Malacca Essay

The Tourism Society of England was define the Tourism as that is is a temporary, short-term movement of people to destination outside the places which they work and do their activities during their stay at each destination, it includes movement for all purposes. Tourism is a major income of Malaysia, so every year, the government will organize a strategy for the particular destination, and there have some them of project for the promoting the destination like â€Å"Cuti-Cuti Malaysia†. In Malaysia, the Ministry of Tourism is put a lot of effort to do the developing for all the destinations and the government also allocate a big sum budget to supporting the development of tourism. The attraction of Malaysia’s tourism is the culture and its mystery natural places due to it have a lot of natural rain forest and it is a multiracial society. (Please refer to Appendix A) Malacca is a historical city and it is worth to the tourist for visiting its interesting history and architecture. In Malaysia, Malacca is the only one historical state which listed on UNESCO (United National Educational, Scientific, and Cultural Organization) since 7th July 2008. Malacca is located at southern region of Malay Peninsula; it is the third smallest state in Malaysia, after Perlis and Penang. It is the most mystery history from all states of Malaysia. It is consider convenient to go Kuala Lumpur or Johor Bahru due to iti is located middle between them, it is just taking around one and half hour to reach them. Malacca can be separated into three parts – Central Malacca, Alor Gajah, and Jasin. It has a lot of history attraction, such as Fort A Famosa, Christ Church, Jonker Walk, Stadhuys, Portuges Settlement and so on. It also got a lot of activities can let tourist enjoy it like Dark Tour, River Cruise, and Water Sport at A Famosa and Wondeland Theme Park which is just opening since June 2010. It is very convenient to the tourist it visit the place due to almost the attractions are nearby and in one place, like Jonker Walk, Christ Church and the shopping malls (Dataran Phalawan and Mahkota Parade)are in one area, so it is convenient to the tourists. And it also easy to the tourists. And it also easy to tourists to find the hotels for their stays , because a lot of hotels are developed in Malacca, such as Equatorial, Holiday Inn, Bayview, Emperor Hotel and so on. The most famous thing of Malacca is its Baba Nyonya culture and foods, a lot of tourist come and visit Malacca because of its traditional Baba Nyonya food. It is not only attracting the foreign tourist, and it also attracts the local tourists who are come from different states.

Strategic Financial Ratio Analysis

Strategic Financial Ratio Analysis| Meghna Cement Mills Bangladesh Limited & Heidelberg Cement Bangladesh Limited For the year of 2009,2010 & 2011| Course Title : Fin 254 Section : 11 Submitted to : SFR Submission date: 09/04/2013| Group: 5Mohammad Riyasad Jamil (Id# XXXXXXXXXX) Saika Alam (Id# XXXXXXXXXX) Rifat Kaniz (Id# XXXXXXXXXX) Mohammad Shaikh Ashfaq (Id#1020668030) Anika Tabassum (Id# XXXXXXXXXX) Ishraq Aahmed (Id# XXXXXXXXXX) Introduction: Ratio analysis is the broad method by which financial data is converted into simple mathematic ratios for comparison. Since the data is widely available, calculating ratio analysis numbers can be accomplished by anyone with access to public financial statements.External usage of the ratio analysis data is widespread. While these ratios don’t tell the whole story, sharp deviations from an industry standard, can forecast growth or decline. In this project we have selected two companies from The Cement Industries of Bangladesh, one as our main company for which we intend to analyze through Ratio Calculation and the other one as the direct competitor to that company. The main company we have selected is the Heidelberg Cement and the competitor company is to be Meghna Cement Mills Bangladesh Limited. Both of these companies are enlisted in Dhaka Stock Exchange since 2007 till present.The whole purpose of this project is to comparatively evaluate the main company (The Heidelberg Cement) to its direct competitor (The Meghna Cement Mils Bangladesh Limited), to determine the over-all strategic financial health of The Heidelberg Cement. Heidelberg Cement Bangladesh Ltd, one of the group companies of Heidelberg Cement Group, founded in Germany in 1873, with its core products being cement, ready-mixed concrete, aggregates and related activities, is one of the leading producers of building materials worldwide. The group employs around 43,000 people in more than 50 countries.In 1999, Heidelberg Cement acquired its operation s in Bangladesh. The subsidiary Heidelberg Cement Bangladesh Ltd. , which is the market leader in Bangladesh, operates two cement grinding plants in Dhaka, the capital city, and in Chittagong. At present it has 9. 31 % market shares among total market share of 78. 29 % of 13 major cement manufacturers in Bangladesh. The company’s last estimated production from 2011 was 1,320,129 MT and observed sales were 1,318,110 MT. The last observed market value from 2001 of this company was 248. 8 Taka/share and the book value was 142 Taka/share.So the company was overvalued by the Market. These worked as the reasons for us to choose this company as a test company for The Strategic Ration Analysis. We have selected Meghna Cement Mills Bangladesh Limited to be the direct competitor of our test company for this project. Meghna Cement Mills Ltd is the first manufacturing unit of Bashundhara Group and it is one of the largest cement industries in the country producing nearly 1 million metric tons a year. The company is listed with both Dhaka and Chittagong Stock Exchanges. The last observed Share price of the company from 2011 was 136. 0 Taka/share. Although it’s a domestic company compared to The Heidelberg Cement, it gives quite a completion to the Heidelberg Group in Bangladesh as we are going to observe in the following part of this project. Ratio Analysis: When we calculate the ratios of a firm we have to go through five major categories of ratios as follows: * Liquidity Ratio : Which determines if the firm can make required payments for its maturing financial responsibilities through Liquid Cash drawn from its Assets * Productivity Ratio: Which measures the ability of a firm to generate Sales from its employed Assets Leverage Ratio: These ratios put a light on the Financial Leverages of a firm and the ability of that firm to meet those Financial Leverages effectively. * Profitability Ratio: These ratios measure how efficiently a unit of sales is turned int o profit for the company * Valuation Ratio: These ratios are used to assess how the market is valuing the firm (share price) in relationship to assets and current earnings, profits and dividends. Liquidity Ratio: There are three different ratios under liquidity ratios as follows; * Current Ratio * Working Capital Ratio Quick Ratio 1) Current Ratio: Measures the number of units of current assets to pay out for each unit of current liabilities. The formula for Current Ratio: Current Ratio = Current AssetsCurrent Liabilities Current Ratio = Current AssetsCurrent Liabilities Company name| 2011| 2010| 2009| Heidelberg cement| 0. 56 (x)| 0. 17 (x)| 0. 56 (x)| Meghna cement| 0. 70 (x)| 0. 64 (x)| 0. 66 (x)| Interpretation: In 2009 Heidelberg’s working capital ratio was 0. 56 (x) and in 2010 and in 2011 its working capital was 0. 17 (x) and 0. 56 (x) which implies its current asset went down and total asset went up in 2010.In 2009 Meghna’s working capital ratio was 0. 66 and in 2010 and in 2011 its working capital was 0. 64 and 0. 70 which I plies its current assent went down and total assent went up in 2010. Heidelberg holds a constant working capital ratio which decreased in 2010 and they managed to pull it up in 2011 where as Meghna’s working capital increased gradually from 2009 to 2011. 2) Working Capital Ratio: This Ratio measures the percentage of total assets that is invested in current assets. The formula of Working Capital Ratio: Working Capital Ratio = Current AssetsTotal AssetsWorking Capital Ratio = Current AssetsTotal Assets Company name| 2011| 2010| 2009| Heidelberg cement| 0. 56 (x)| 0. 17 (x)| 0. 56 (x)| Meghna cement| 0. 70 (x)| 0. 64 (x)| 0. 66 (x)| Interpretation: In 2009 Heidelberg’s working capital ratio was 0. 56(x) and in 2010 and in 2011 its working capital was 0. 17 (x) and 0. 56 (x) which implies its current asset went down and total asset went up in 2010. In 2009 Meghna’s working capital ratio was 0. 66 ( x) and in 2010 and in 2011 its working capital was 0. 64 (x) and 0. 70 (x) which implies its current asset went down and total asset went up in 2010.Heidelberg holds a constant working capital ratio which decreased in 2010 and they managed to pull it up in 2011 where as Meghna’s working capital increased gradually from 2009 to 2011. 3) Quick Ratio: The quick ratio gives a clearer indication of the firm’s ability to meet its maturing financial obligations out of current, liquid assets. The formula for the Quick Ratio: Quick Ratio = Current Assets-InventoriesCurrent Liabilities Quick Ratio = Current Assets-InventoriesCurrent Liabilities Company name| 2011| 2010| 2009| Heidelberg Cement| 1. 61(x)| 1. 74 (x)| 1. 51 (x)| Meghna Cement| 0. 86 (x)| 0. 80 (x)| 0. 79 (x)|Interpretation: In 2011 Heidelberg’s current asset without its inventory was 1. 61 (x) and in 2010 and 2009 it was 1. 74 (x) and 1. 51 (x) its current liabilities. In 2011 Meghna’s current asset w ithout its inventory was 0. 86 (x) and in 2010 and in 2009 it was 0. 80 (x) and 0. 79 (x) its current liabilities. Heidelberg’s performance declined over the year of 2009 to 2011. This decrease can be attributed to the fact that the relevant change in its current liabilities was more than the relevant change in its current asset and inventory. Whereas its competitor Meghna cement’s performance increased over the year. Productivity Ratios:There are five different ratios under the criterion of Productivity Ratio: * Receivable Turnover Ratio * Days Sales Outstanding (DSO) * Inventory Turnover * Total asset turnover ratio * Fixed Asset turnover Ratio 4) Total Asset Turnover Ratio (TA TO): This ratio estimates the number of units in Sales, produced by each units investment in the company’s Assets ; TA TO = Net SalesTotal Assets TA TO = Net SalesTotal Assets The formula for TA TO: Company name| 2011| 2010| 2009| Heidelberg Cement| 1. 0631 (x)| 1. 1586 (x)| 1. 1951 (x )| Meghna Cement| 1. 844 (x)| 1. 5855 (x)| 1. 4189 (x)| Interpretation: In 2009 Heidelberg’s TA TO was 1. 1951 (x), in 2010 and 2011 it’s TA TO was 1. 1586 (x) and 1. 0631 (x) of its Total Assets In 2009 Meghna’s TA TO was 1. 4189 (x), in 2010 and 2011 it’s TA TO was 1. 5855 (x) and 1. 4844 (x) of its Total Assets Both the two company’s TA TO s are relatively close to each other. However Meghna’s Ratios are a little bit higher than Heidelberg’s. So we could say that over the past three years Meghna has shown a little bit more efficiency than Heidelberg in utilizing its total assets for generating sales.In this scenario Meghana’s performance as a competitor is better than Heidelberg Cement 5) Fixed Asset Turnover Ratio (FA TO): This ratio estimates the number of units in Sales, produced by each unit investment in the company’s Net Fixed Assets; FA TO = Net SalesNet Fixed Assets FA TO = Net SalesNet Fixed Assets The formul a for FA TO: Company name| 2011| 2010| 2009| Heidelberg Cement| 2. 4539 (x)| 3. 0817(x)| 2. 7202 (x)| Meghna Cement| 4. 9925 (x)| 4. 3774 (x)| 4. 1159 (x)| Interpretation: In 2009 Heidelberg’s FA To was 2. 7202 (x) and in 2010 it went up to 3. 817 (x) of its Fixed Assets. But in 2011 the FA TO went down to 2. 4539 (x), the company’s Fixed Assets. This indicates that in 2011 Heidelberg invested more in its Current Assets in comparison to the previous years. As a result the company was generating fewer sales from its Fixed Assets compared to 2009 & 2010. In 2009 Meghna’s FA TO was 4. 1159 (x) its Fixed Assets. In 2010 and 2011 the FA TO was 4. 3774 (x) and 4. 9925 (x) of its Fixed Assets. Meghna had a significant rise in its FA TO over the years. This means they are utilizing their Fixed Assets more efficiently for generating sales.Over the years Meghna has shown efficiency in utilizing its Fixed Assets and has generated significantly higher sales, on the other ha nd Heidelberg’s Sales generating capacity from its Fixed Assets has declined. So Meghna holds an upper hand when it comes to utilize its Fixed Assets effectively. Leverage Ratios: There are four different ratios under the criterion of Productivity Ratio: * Debt to Asset ratio: * Debt to Equity: * Times Interest Earned: * Cash Flow to Debt ratio: 1) Debt to Asset Ratio: This ratio indicates the proportion of total assets financed by debt at a particular point in time; The formula for Debt to Asset Ratio:Debt to Asset = Total LiabilitiesTotal Assets X 100 Debt to Asset = Total LiabilitiesTotal Assets X 100 Company name| 2011| 2010| 2009| Heidelberg Cement| 34. 2989 (%)| 33. 7784 (%)| 34. 1261 (%)| Meghna Cement| 83. 5524 (%)| 81. 5425 (%)| 79. 7020 (%)| Interpretation: Heidelberg did not have any significant change in its Debt to Asset Ratio over the year though it went down by a little in 2010. We can see that in 2009, 34 % of its Assets were financed by Debt and in 2010 and 2 011 33% and 34% of its Assets were financed by its Liabilities.Heidelberg holds a large proportion of Assets to its Equity and a less proportion to debt. Meghna has a large Debt to Asset Ratio which has a significant rise over the years, from 2009 to 2011 its debt to asset went up from 79% to 83%. Meghna holds a large proportion of Assets financed by its Liabilities. In comparison, Heidelberg has the upper hand In this segment, because it has a lot less Assets exposed to Debt rather than Meghna, which has a large Debt against its Assets. Dupont Analysis: At the end of the project we’d like to draw a concluding summary by using the concept of Dupont Analysis in comparative traits for both of the firms.The Dupont system provides a good starting point for any financial analysis. It shows that financial strength in a company comes from three major sources, rather it focuses on three major segments; * Profitability : Profit generated from a company’s Sales * Asset Utilizati on : Sales generated from investment in Assets * Debt Utilization: Portion of Assets that is held against Owner’s Equity. Return on Equity (ROE) = Net IncomeSales X SalesTotal Asset X Total AssetTotal Equity Or, ROE = Profit Margin (PM) X TA TO X Equity Multiplier (EM)Return on Equity (ROE) = Net IncomeSales X SalesTotal Asset X Total AssetTotal Equity Or, ROE = Profit Margin (PM) X TA TO X Equity Multiplier (EM) So, the formula for Dupont looks like this: Dupont analysis for Heidelberg Cement: From the Ratios we calculated earlier (PM, TA TO & EM); we get the following values for ROE by using the Dupont formula: Year| PM| TA TO| EM| ROE| 2011 | 8. 8028%| 1. 0631 (x)| 1. 5220 (x)| 14. 3243%| 2010| 12. 0014%| 1. 1586 (x)| 1. 5101 (x)| 20. 977%| 2009| 11. 5059%| 1. 1951 (x)| 1. 5181 (x)| 20. 8749%| Interpretation: From 2009 to 2010 we can see a slight rise up from 20. 8749% to 20. 9977% in the ROE Ratio for Heidelberg Cement. However from 2010 to 2011 there was major decline in ROE of 20. 9977% to 14. 3243%. Where TA TO and EM remains approximately similar, the ROE falls due to a declining Profit Margin in the year of 2011. So undermining the decline in the Profit Margin, it is safe to say that Heidelberg showed a considerable poor performance in generating Profit from its Sales, in the last observed year of 2011.

Business Law Essay Example for Free (#16)

Business Law Essay What is Business Law? Businesses interact in many and varied ways. To name just a few types of business transactions, there are contracts, mergers and acquisitions, leasing, etc. How these transactions are carried out is overseen by Business Law. Additionally, how businesses are formed is a large part of Business law. This area of law is very wide-ranging, although it deals primarily with defining the rights and responsibilities of businesses, rather than enforcing these laws. Because of its extensive scope, Business law has spawned a large number of legal practice area subcategories, which include Sales and Secured Transactions, Banking, Landlord-Tenant, Mortgages, Real Estate Transactions, Debtor and Creditor, Bankruptcy, Consumer Credit, Negotiable Instruments, and Contracts. Business law and Commercial law are very closely related, so much so that the terms are often used interchangeably and the legal issues they address frequently overlap. The Uniform Commercial Code (UCC) is the principal presiding authority over commercial transactions. Business.gov helps small businesses understand their legal requirements and locate government services from federal, state and local agencies. Business.gov is an official site of the U.S. Small Business Administration. * Commercial Law / Business Law – Definition Commercial law (sometimes known as business law) is the body of law that governs business and commercial transactions. It is often considered to be a branch of civil law and deals with issues of both private law and public law. Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of exchange and partnership. It can also be understood to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods. Most aspects of running a business have some legal consequences. Whether your business is just starting up, expanding, or winding down, you must comply with the federal, state, and local laws that govern your business activities. A great many common law rulings, statutes, administrative rules and legislation make up the practice and interpretation of employment law. Its governance falls under the umbrella of both federal and state statutes, as well as administrative regulation and judicial precedent. When workers file claims for employment discrimination, unemployment compensation and workers’ compensation, these claims fall under employment law. Likewise, overseeing workplace safety and standards, fair wages, retirement and pensions, employee benefits, and much more, are part of this wide-ranging legal area. Employment law deals with both the employer and the employee’s actions, rights and responsibilities, as well as their relationship with one another. A well-known, prevalent administrative regulatory body for employment law is the Department of Labor, which exists on both the federal and the state level.The elaws Advisors are interactive e-tools that provide easy-to-understand information about a number of federal employment laws. Each Advisor simulates the interaction you might have with an employment law expert. It asks questions and provides answers based on responses given. Self-Employment Assistance offers dislocated workers the opportunity for early re-employment. The program is designed to encourage and enable unemployed workers to create their own jobs by starting their own small businesses. Under these programs, States can pay a self-employed allowance, instead of regular unemployment insurance benefits, to help unemployed workers while they are establishing businesses and becoming self-employed. Participants receive weekly allowances while they are getting their businesses off the ground. A corporation is a legal entity created through the laws of its state of incorporation. Individual states have the power to promulgate laws relating to the creation, organization and dissolution of corporations. Many states follow the Model Business Corporation Act.State corporation laws require articles of incorporation to document the corporation’s creation and to provide provisions regarding the management of internal affairs. Most state corporation statutes also operate under the assumption that each corporation will adopt bylaws to define the rights and obligations of officers, persons and groups within its structure. States also have registration laws requiring corporations that incorporate in other states to request permission to do in-state business.There has also been a significant component of Federal corporations law since Congress passed the Securities Act of 1933, which regulates how corporate securities are issued and sold. Federal securities law also governs req uirements of fiduciary conduct such as requiring corporations to make full disclosures to shareholders and investors. The law treats a corporation as a legal â€Å"person† that has standing to sue and be sued, distinct from its stockholders. The legal independence of a corporation prevents shareholders from being personally liable for corporate debts. It also allows stockholders to sue the corporation through a derivative suit and makes ownership in the company (shares) easily transferable. The legal â€Å"person† status of corporations gives the business perpetual life; deaths of officials or stockholders do not alter the corporation’s structure.Corporations are taxable entities that fall under a different scheme from individuals. Although corporations have a â€Å"double tax† problem — both corporate profits and shareholder dividends are taxed — corporate profits are taxed at a lower rate than the rates for individuals.Corporate law has important intersections with contracts and commercial transactions law. A generic term for shares of stock, bonds, and debentures issued by corporations and governments to evidence ownership and terms of payment of dividends or final payoff. They are called securities because the assets or profits of the corporation or the credit of the government stand as security for payment. However, unlike secured transactions in which specific property is pledged, securities are only as good as the future profitability of the corporation or the management of the governmental agency. Most securities are traded on various stock or bond markets. Securities law exists because of unique informational needs of investors. Securities are not inherently valuable; their worth comes only from the claims they entitle their owner to make upon the assets and earnings of the issuer or the voting power that accompanies such claims. The value of securities depends on the issuer’s financial condition, products and markets, management, and the competitive and regulatory climate. Securities laws and regulations aim at ensuring that investors receive accurate and necessary information regarding the type and value of the interest under consideration for purchase. Securities exist in the form of notes, stocks, treasury stocks, bonds, certificates of interest or participation in profit sharing agreements, collateral trust certificates, preorganization certificates or subscriptions, transferable shares, investment contracts, voting trust certificates, certificates of deposit for a security, and a fractional undivided interest in gas, oil, or other mineral rights. Certain types of notes, such as a note secured by a home mortgage or a note secured by accounts receivable or other business assets, are not securities. * The Setting for Buying and Trading Two principle settings for buying and selling securities exist – issuer transactions and trading transactions. On the one hand, issuer transactions are the means by which businesses raise capital. These transactions involve the sale of securities by the issuer to investors. On the other hand, trading transactions refers to the purchasing and selling of outstanding securities among investors. Investors trade outstanding securities through securities markets that can be either stock exchanges or â€Å"over-the-counter.† Stock exchanges provide a place, rules, and procedures for buying and selling securities, and the government heavily regulates them. Generally, to have their securities sold and bought on a stock exchange, a company must list its securities on a given exchange. The Securities and Exchange Commission (SEC) must approve the stock exchange’s rules before they take effect. Transactions that do not take place on a stock exchange occur in the the residual securities market, known as the over-the-counter market. Only dealers and brokers registered with the SEC may engage in securities business both on stock exchanges and in over-the-counter markets. Most of the broker-dealers serving the public used to be members of the National Association of Securities Dealers (NASD), which served the NASDAQ stock market, but in 2007, the NASD merged with the dealers from the New York Stock Exchange to form the Financial Industry Regulatory Authority (FINRA) a national securities association registered with SEC. Securities regulations focus mainly on the market for common stocks. Both federal and state laws regulate securities. On the heels of the Great Depression, Congress enacted the first of the federal securities laws, the Federal Securities Act of 1933, which regulates the public offering and sale of securities in interstate commerce. This Act also prohibits the offer or sale of a security not registered with the Securities Exchange Commission and requires the disclosure of certain information to the prospective securities’ purchaser. Then, needing an agency to enforce those regulations, Congress established the Securities Exchange Act of 1934, which created the SEC. Since then, Congress has charged the SEC with administering federal securities laws. The 1933 Act’s registration requirements aimed to enable purchasers to make reasoned decisions by requiring companies to provide reliable information. The Securities Exchange Act of 1934 also regulates officers, directors, and principal share holders in an attempt to maintain fair and honest markets. The Act requires that issuers, subject to certain exemptions, register with the SEC if they want to have their securities traded on a national exchange. Issuers of securities registered under the 1934 Act must file various reports with the SEC in order to provide the public with adequate information about companies with publicly traded stocks. The 1934 Act permits the SEC to promulgate rules and regulations to protect the public and investors by prohibiting manipulative devices and contrivances via the mail system or other means of interstate commerce A partnership is a for-profit business association of two or more persons. Because the business component is defined broadly by state laws and because â€Å"persons† can include individuals, groups of individuals, companies, and corporations, partnerships are highly adaptable in form and vary in complexity. Each partner shares directly in the organization’s profits and shares control of the business operation. The consequence of this profit sharing is that partners are jointly and independently liable for the partnership’s debts.Creation, organization, and dissolution of partnerships are governed by state law. Many states have adopted the Uniform Partnership Act. A partner relationship is generally the result of a contract either express or implied with no formal requirements (such as a signed document). This is not the case of a limited partnership where one or more general partners manage business operations and assume personally liable for partnership debts while other contributing/profit sharing partners take no part in running the business and incur no liability beyond contribution obligations.) Limited partnerships are governed in many states by the Uniform Limited Partnership Act . State property law also impacts partnerships by defining ownership in a partnership and determining how the death of a partner changes the partnership structure. Federal law plays a minimal role in partnership law except in the context of a diversity action, or in instances where a partnership agreement contains an effective choice-of-law provision designating the application of federal law. Federal law also governs whether a partnership exists for federal tax purposes. For state and federal tax purposes, a partnership is not a taxable entity. Partnership income is taxable to the partners in proport ion to their share in the company’s profits. Despite their importance to the economy, small businesses are heavily burdened by the costs of government regulation and excessive paperwork. Advocacy research shows that firms with fewer than 20 employees annually spend 45 percent more per employee than larger firms do to comply with federal regulations. Advocacy is an independent voice for small business within the federal government and is the watchdog for the Regulatory Flexibility Act (RFA). Advocacy advances the views and concerns of small business before Congress, the White House, the federal agencies, the federal courts and state policy makers. An arrangement under which a borrower puts up the title to real estate as security (collateral) for a loan to buy the real estate. The borrower typically agrees to make regular payments of principal and interest to repay the loan. If the borrower falls behind (defaults) on the payments, the lender can foreclose on the real estate and have it sold to pay off the loan. A mortgage involves the transfer of an interest in land as security for a loan or other obligation. It is the most common method of financing real estate transactions. The mortgagor is the party transferring the interest in land. The mortgagee, usually a financial institution, is the provider of the loan or other interest given in exchange for the security interest. Normally, a mortgage is paid in installments that include both interest and a payment on the principle amount that was borrowed. Failure to make payments results in the foreclosure of the mortgage. Foreclosure allows the mortgagee to declare that the entire m ortgage debt is due and must be paid immediately. This is accomplished through an acceleration clause in the mortgage. Failure to pay the mortgage debt once foreclosure of the land occurs leads to seizure of the security interest and its sale to pay for any remaining mortgage debt. The foreclosure process depends on state law and the terms of the mortgage. The most common processes are court proceedings (judicial foreclosure) or grants of power to the mortgagee to sell the property (power of sale foreclosure). Many states regulate acceleration clauses and allow late payments to avoid foreclosure. Some states use instruments called deeds of trust instead of traditional mortgages. Three theories exist regarding who has legal title to a mortgaged property. Under the title theory title to the security interest rests with the mortgagee. Most states, however, follow the lien theory under which the legal title remains with the mortgagor unless there is foreclosure. Finally, the intermediate theory applies the lien theory until there is a default on the mortgage whereupon the title theory applies. The mortgagor and the mortgagee generally have the right to transfer their interest in the mortgage. Some states hold that even when the purchaser of a property subject to a mortgage does not explicitly take over the mortgage the transfer is assumed. Mortgages employ due-on-sale and due-on-encumbrance clauses to prevent the transfer of mortgages. These clauses allow acceleration (having the principal and interest become due immediately) of the mortgage. The law of contracts and property govern the transfer of the mortgage’s interest. If the mortgage being foreclosed is not the only lien on the property then state law determines the priority of the property interests. For example, Article 9 of the Uniform Commercial Code governs conflicts between mortgages on real property and liens on fixtures (personal property attached to a piece of real estate). When a mortgage is a negotiable instrument it is governed by Article 3 of the Uniform Commercial Code. A mortgage may be used as a security interest by the mortgage. * Strangely enough, the word mortgage comes from the French word â€Å"mort† which means â€Å"dead† and â€Å"gage† from Old English, which means pledge. The term came from the doubtfulness of whether or not the mortgagor would pay the debt. In the 1500’s, if the mortgagor did not pay, then the land pledged as security for the debt was taken away. The land was then considered â€Å"dead† to the mortgagor. Nowadays, the term mortgage is used as a term for purchasing a property. We no longer associate anyone’s death with it. Although a few lucky people may be in a position to pay all cash for a property, home mortgages are required to purchase a home. Mortgages all have a term (typically 15, 20 or 30 years) representing the length of time before your home is paid off and a rate which determines the principal and interest payment that will be required to be paid during this term. Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. This supervised division also allows the interests of all creditors to be treated with some measure of equality. Certain bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts. An additional purpose of bankruptcy law is to allow certain debtors to free themselves (to be discharged) of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid in full. Bankruptcy law is federal statutory law contained in Title 11 of the United States Code. Congress passed the Bankruptcy Code under its Constitutional grant of authority to â€Å"establish uniform laws on the subject of Bankruptcy throughout the United States.States may not regulate bankruptcy though they may pass laws that govern other aspects of the debtor-creditor relationship. There are two basic types of Bankruptcy proceedings. A filing under Chapter 7 is called liquidation. It is the most common type of bankruptcy proceeding. Liquidation involves the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors. Bankruptcy involve the rehabilitation of the debtor to allow him or her to use future earnings to pay off creditors. Under Chapter 7, 12, 13, and some 11 proceedings, a trustee is appointed to supervise the assets of the debtor. A bankruptcy proceeding can either be entered into voluntarily by a debtor or initiated by creditors. After a bankruptcy proceeding is filed, creditors, for the most part, may not seek to collect their debts outside of the proceeding. The debtor is not allowed to transfer property that has been declared part of the estate subject to proceedings. Furthermore, certain pre-proceeding transfers of property, secured interests, and liens may be delayed or invalidated. Various provisions of the Bankruptcy Code a lso establish the priority of creditors’ interests. * Small Business Financing – Loans and Grants Federal, state and local governments offer a wide range of financing programs to help small businesses start and grow their operations. These programs include low-interest loans, venture capital, and scientific and economic development grants. The Uniform Commercial Code (UCC or the Code), first published in 1952, is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. The goal of harmonizing state law is important because of the prevalence of commercial transactions that extend beyond one state. The UCC therefore achieved the goal of substantial uniformity in commercial laws and, at the same time, allowed the states the flexibility to meet local circumstances. The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property). The U.S. Department of Commerce has a broad mandate to advance economic growth and jobs and opportunities for the American people. It has cross cutting responsibilities in the areas of trade, technology, economic development, environmental stewardship and statistical research and analysis. The products and services the department provides touch the lives of Americans and American companies in many ways, including weather forecasts, the decennial census, and patent and trademark protection for inventors and businesses. The Uniform Commercial Code (UCC), a comprehensive code addressing most aspects of commercial law, is generally viewed as one of the most important developments in American law. The UCC text and draft revisions are written by experts in commercial law and submitted as drafts for approval to the National Conference of Commissioners on Uniform State Laws (now referred to as the Uniform Law Commissioners), in collaboration with the American Law Institute. The Commissioners are all attorneys, qualified to practice law, including state and federal judges, legislators and law professors from the United States and its territories. These quasi-public organizations meet and decide whether to endorse these drafts or to send them back to the experts for revision. The revision process may result in several different revisions of the original draft. Once a draft is endorsed, the Uniform Law Commissioners recommend that the states adopt these rules. The UCC is a model code, so it does not have leg al effect in a jurisdiction unless UCC provisions are enacted by the individual legislatures as statutes. Currently, the UCC (in whole or in part) has been enacted, with some local variation, in all 50 states, the District of Columbia, and the Virgin Islands. AN ACT to enact the uniform commercial code, relating to certain commercial transactions in or regarding personal property and contracts and other documents concerning them, including sales, commercial paper,bank deposits and collections, letters of credit, bulk transfers, warehouse receipts, bills of lading, other documents of title, investment securities, leases, and secured transactions, including certain sales of accounts and contract rights; to provide for public notice to third parties in certain circumstances; to regulate procedure, evidence and damages in certain court actions involving such transactions, contracts or documents; to make uniform the law with respect there to; to make an appropriation; to provide penalties; and to repeal certain acts and parts of acts. * 1-101. Short Titles. (a) This [Act] may be cited as the Uniform Commercial Code. * 1-102. Scope of Article. This article applies to a transaction to the extent that it is governed by another article of [the Uniform Commercial Code]. * 1-103. Construction of [Uniform Commercial Code] to Promote its Purposes and Policies: Applicability of Supplemental Principles of Law. (a) [The Uniform Commercial Code] must be liberally construed and applied to promote its underlying purposes and policies, which are: (1)to simplify, clarify, and modernize the law governing commercial transactions; (2) to permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and (3) to make uniform the law among the various jurisdictions. (b) Unless displaced by the particular provisions of [the Uniform Commercial Code], the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, fraud, misrepresentation,mistake, bankruptcy, and other validating or invalidating cause supplement its provisions. * 1-104. Construction Against Implied Repeal. [The Uniform Commercial Code] being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided. If any provision or clause of [the Uniform Commercial Code] or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of [the Uniform Commercial Code] which can be given effect without the invalid provision or application, and to this end the provisions of [the Uniform Commercial Code] are severable. * 1-106. Use of Singular and Plural; Gender. In [the Uniform Commercial Code], unless the statutory context otherwise requires: (1) words in the singular number include the plural, and those in the plural include the singular; and (2) words of any gender also refer to any other gender. Section captions are part of [the Uniform Commercial Code]. * 1-108. Relation to Electronic Signatures in Global and National Commerce Act. This article modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., except that nothing in this article modifies, limits, or supersedes Section 7001(c) of that Act or authorizes electronic delivery of any of the notices described in Section 7003(b) of that Act. (a) Unless the context otherwise requires, words or phrases defined in this section, or in the additional definitions contained in other articles of [the Uniform Commercial Code] that apply to particular articles or parts thereof, have the meanings stated. (b) Subject to definitions contained in other articles of [the Uniform Commercial Code] that apply to particular articles or parts thereof: (1) â€Å"Action†, in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in equity, and any other proceeding in which rights are determined. (2) â€Å"Aggrieved party† means a party entitled to pursue a remedy. (3) â€Å"Agreement†, as distinguished from â€Å"contract†, means the bargain of the parties in fact, as found in their language or inferred from other circumstances, including course of performance, course of dealing, or usage of trade as provided in Section 1-303. (4) â€Å"Bank† means a person engaged in the busines s of banking and includes a savings bank, savings and loan association, credit union, and trust company. (5) â€Å"Bearer† means a person in possession of a negotiable instrument, document of title, or certificated security that is payable to bearer or indorsed in blank. (6) â€Å"Bill of lading† means a document evidencing the receipt of goods for shipment issued by a person engaged in the business of transporting or forwarding goods. (7) â€Å"Branch† includes a separately incorporated foreign branch of a bank. (8) â€Å"Burden of establishing† a fact means the burden of persuading the trier of fact that the existence of the fact is more probable than its nonexistence. (9) â€Å"Buyer in ordinary course of business† means a person that buys goods in good faith, without knowledge that the sale violates the rights of another person in the goods, and in the ordinary course from a person, other than a pawnbroker, in the business of selling goods of that kind. A person buys goods in the ordinary course if the sale to the person comports with the usual or customary practices in the kind of business in which the seller is engaged or with the seller’s own usual or customary practices. A person that sells oil, gas, or othe r minerals at the wellhead or minehead is a person in the business of selling goods of that kind. A buyer in ordinary course of business may buy for cash, by exchange of other property, or on secured or unsecured credit, and may acquire goods or documents of title under a preexisting contract for sale. Only a buyer that takes possession of the goods or has a right to recover the goods from the seller under Article 2 may be a buyer in ordinary course of business. (10) â€Å"Conspicuous†, with reference to a term, means so written, displayed, or presented that a reasonable person against which it is to operate ought to have noticed it. Whether a term is â€Å"conspicuous† or not is a decision for the court. Conspicuous terms include the following: (A) a heading in capitals equal to or greater in size than the surrounding text, or in contrasting type, font, or color to the surrounding text of the same or lesser size; and (B) language in the body of a record or display in larger type than the surrounding text, or in contrasting type, font, or color to the surrounding te xt of the same size, or set off from surrounding text of the same size by symbols or other marks that call attention to the language. (11) â€Å"Consumer† means an individual who enters into a transaction primarily for personal, family, or household purposes. (12) â€Å"Contract†, as distinguished from â€Å"agreement†, means the total legal obligation that results from the parties’ agreement as determined by [the Uniform Commercial Code] as supplemented by any other applicable laws. (13) â€Å"Creditor† includes a general creditor, a secured creditor, and any representative of creditors, including an assignee for the benefit of creditors, a receiver in equity, and an executor or administrator of an insolvent debtor’s or assignor’s estate. (14) â€Å"Defendant† includes a person in the position of defendant in a counterclaim, cross-claim, or third-party claim. (15) â€Å"Delivery†, with respect to an instrument, document of title, or chattel paper, means voluntary transfer of possession. Includes the appropriate rules and customs for handling trade between countries. However, it is also used in legal writings as trade between private sectors, which is not right. This branch of law is now an independent field of study as most governments has become part of the world trade, as members of the World Trade Organization (WTO). Since the transaction between private sectors of different countries is important part of the WTO activities, this latter branch of law is now very important part of the academic works and is under study in many universities across the world. International trade law should be distinguished from the broader field of international economic law. The latter could be said to encompass not only WTO law, but also law governing the international monetary system and currency regulation, as well as the law of international development. The body of rules for transnational trade in the 21st century derives from medieval commercial laws called the lex mercatoria and lex maritima — respectively, â€Å"the law for merchants on land† and â€Å"the law for merchants on sea.† Modern trade law (extending beyond bilateral treaties) began shortly after the Second World War, with the negotiation of a multilateral treaty to deal with trade in goods: the General Agreement on Tariffs and Trade (GATT). International trade law is based on theories of economic liberalism developed in Europe and later the United States from the 18th century onwards. International Trade Law is an aggregate of legal rules of â€Å"international legislation† and new lex mercatoria, regulating relations in international trade. â€Å"International legislation† – international treaties and acts of international intergovernmental organizations regulating relations in international trade. lex mercatoria – â€Å"the law for merchants on land†. Alok Narayan defines â€Å"lex mercatoria† as â€Å"any law relating to businesses† which was criticised by Professor Julius Stone. and lex maritima – â€Å"the law for merchants on sea. Alok in his recent article criticised this definition to be â€Å"too narrow† and â€Å"merely-creative†. Professor Dodd and Professor Malcolm Shaw of Leeds University supported this proposition. Contract: the elements of a contract The first step in a contract question is always to make sure that a contract actually exists. There are certain elements that must be present for a legally binding contract to be in place. The first two are the most obvious: * An offer: an expression of willingness to contract on a specific set of terms, made by the offeror with the intention that, if the offer is accepted, he or she will be bound by a contract. * Acceptance: an expression of absolute and unconditional agreement to all the terms set out in the offer. It can be oral or in writing. The acceptance must exactly mirror the original offer made. * A counter-offer is not the same as an acceptance. A counter-offer extinguishes the original offer: you can’t make a counter-offer and then decide to accept the original offer! But†¦ * A request for information is not a counter-offer. If you ask the offeror for information or clarification about the offer, that doesn’t extinguish the offer; you’re still free to accept it if you want. It is very important to distinguish an offer from an invitation to treat – that is, an invitation for other people to submit offers. Some everyday situations which we might think are offers are in fact invitations to treat: * Goods displayed in a shop window or on a shelf. * When a book is placed in a shop window priced at  £7.99, the bookshop owner has made an invitation to treat. * When I pick up that book and take it to the till, I make the offer to buy the book for  £7.99. * When the person at the till takes my money, the shop accepts my offer, and a contract comes into being. * Adverts basically work in the same way as the scenario above. Advertising something is like putting it in a shop window. * The original advertising of the auction is just an invitation to treat. * When I make a bid, I am making an offer. * When the hammer falls, the winning ‘offer’ has been accepted. The seller now has a legally binding contract with the winning bidder (so long as there is no reserve price that hasn’t been reached) An offer can be revoked at any time before it is accepted, so long as you inform the person you made the offer to that the offer no longer stands. * Consideration: each party to the contract must receive something of value.Consideration is the price paid for the other’s promise. There are four legal maxims that apply to consideration: * Consideration must move from the promisor; * Consideration need not move to the promisee; * Past consideration is not good consideration; * The consideration given must be sufficient, but it need not be adequate. Arrangements of a social nature are presumed not to be legally binding, whilse commercial arrangements are presumed to be intended as binding contracts. Of course, these presumptions can always be rebutted in court by producing evidence to the contrary. It is essential to know about business law before starting a business, as it will help you operate your business without the hindrances of ignorance. It is better to seek the expert guidance of an accountant and an attorney to learn about the latest business laws that will affect your business.. There are different laws for different business entities. Be certain you learn about the business laws that govern the kind of business entity that you choose to start. The major types of businesses are C, S and closed corporations, limited liability companies, and sole proprietorships. Zoning Laws: It is essential to know about zoning laws, as certain zones are restricted in certain areas. It deals with the kind or type of business allowed in certain areas, how the land surrounding a business is used, signboards, advertisements, and parking. Licensing Laws: In order to operate a business certain licenses are required and there are some important business laws you need to know. If a business operates without these licenses, it is illegal and the business may be dissolved or forced to close. Trademark and Patent Laws: These are laws that deal with ownership; intellectual property rights, and inventions. They are necessary to protect the business. Employment Laws: These are laws regarding the hiring and firing of employees, their rights, compensation, safety, work place discrimination, child labor laws, overtime pay structure, disability laws and unemployment laws. Tax Laws: This section deals with filing of tax returns and depends on the kind of business entity and the state the business operates in, sales tax. These include franchise tax, income tax and other state and federal tax requirements of a business. These are very important business laws you need to know before starting a business. Environmental Laws: The government enforces the environmental laws for the discharge of hazardous waste and the recycling laws pertaining to the business. Health Department Permits: This is necessary if your business deals with food products. You must get health department permits to operate your business. Fire Department Permits and Air and Water Pollution Control Permits: There are laws that certain kinds of business entities must get permits from these departments to operate. The list above contains basic business laws you need to know before starting a company. It is necessary to take precautions that you are not violating any law by operating your business. You must obtain all the necessary permits and licenses from the appropriate authority. Business Law. (2017, Feb 07). 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Foodborne Outbreaks Essay Example | Topics and Well Written Essays - 500 words

Foodborne Outbreaks - Essay Example Just about any food can become a threat if it has spoiled, however, the foods most commonly associated with leading to foodborne illness include fresh foods and dairy products, like eggs, fish, poultry, and condiments, like mayonnaise. The Centers for Disease Control and Prevention explains that while there are many measures taken to prevent the possibility of causing an foodborne outbreaks, it is not always easy because the contamination can occur at any point in the food production chain, the fault could lie in the production, the processing, preparation, and distribution; which makes identifying the sources, scope, and efficient treatment incredibly difficult and important (2014). Foodborne outbreaks may seem uncommon, but are common enough to pose a serious health risk that costs the United States $77 billion per year to address the ,almost 130,000 of hospitalizations and 3,000 deaths caused yearly by foodborne illnesses (Nuzzo & et al, 2013). Determining the range and scope of an outbreak involves a number of factors, including, where and how the contamination occurred, how much was contaminated, where was it sent, and how many people have been in contact with or consumed it. However, the most essential step and greatest challenge is identifying which of the millions of possible culprits is responsible for the outbreak. The majority of foodborne illness outbreaks is an important issue for a number of governmental agencies that work to make certain that the food that is provided, sold, and consumed by the public is safe (The Centers for Disease Control and Prevention, 2014). Most outbreaks can be controlled by the local and state health agencies, however, larger outbreaks will include multiple agencies working together . (The Centers for Disease Control and Prevention, 2014). The three federal agencies most closely involved in the occurrences of foodborne outbreaks are the CDC. FDA, and the USDA. The first, again, is the Centers for Disease

Paganism and New Ageism Essay Example | Topics and Well Written Essays - 3500 words

Paganism and New Ageism - Essay Example As the discussion highlights Paganism encourages worship of godheads that are similar to the medieval Pagan godheads that thrived in an age of anarchy, and the New Age movement presents a complex mix of occult, science, belief in extraterritorial beings that exist in a different plane and â€Å"Enlightened Masters† to resemble Gnosticism. This essay argues that it is best to avoid the Pagan and New Age religiosities because they present a potential for even greater anarchy than is apparent in a world that predominantly subscribes to the monotheistic doctrines.This paper declares that  over the past decades, North America and the Western World have witnessed a substantial increase in the number and diversity of New Religious Movements and new forms of religious life. This is probably because of the fact that with the emergence of a new world, religion must now adapt to new realities. Now, religion is a private matter; more of a matter of choice than it used to be, and religio n must now cope with advanced capitalism. Information is now far more readily available for the masses with the freedom to question and to think.  God who deliberately divided His people into followers of Judaism, Christianity and Islam tolerate the slaughter and the butchery that are the result of His messages to humanity?  Are any of the three of those that presented messages about monotheism imposters and Satanists?... Information is now far more readily available for the masses with the freedom to question and to think. According to Partridge (2006), notions of wellbeing are now important for spiritual health and individuals search for that which satisfies them most in their interaction with the world around them. The reality associated with suffering in a world in which God, an omnipotent being, the all-powerful and the all-knowing Creator, should and could have prevented despair creates a certain lack of satisfaction with the established religious doctrine, especially the monotheistic religious doctrine (Davy, 1997, pp. 1 – 20). After all, how could a merciful monotheistic God who deliberately divided His people into followers of Judaism, Christianity and Islam tolerate the slaughter and the butchery that are the result of His messages to humanity? Are any of the three of those that presented messages about monotheism imposters and Satanists? How can one believe in the truth of events tha t unfolded many thousands of years ago? Why is it impossible for this God, who has the power to create, to maintain all of His creations in dignity and satisfaction in a world that He created and if there is an omnipotent God, why does he delight in the slaughter and destruction of His creation? Many questions and doubts haunt many followers of the three monotheist religious doctrines and the history of monotheism spread over many thousands of years presents many flaws, contradictions, abhorrent notions and notions that defy logic. A study of Armstrong (2011), Stark (2003), Bianchi (1975) and Paterson (2004) lends some support to the previously mentioned doubts. Davy (1997) suggests that a failure to remain satisfied by the notion

Growing online gambling industry and its effects socially, Research Paper

Growing online gambling industry and its effects socially, economically - Research Paper Example Instant messaging has replaced the meet-and-greet sessions that were always held as part of family tradition (Powers 45). To add salt to an injury, the most socially revered types of gaming, gambling, was introduced into the virtual world. People were allowed to take their gambling into the virtual world with loads of money at stake and with addiction becoming a key concern amongst several social researchers (Gainsbury 21). The internet then led to an increase in the number of gambling options that an individual could ascribe to with each improvement making betting more lucrative and enticing to people. Research shows that approximately 8 million people participated in online gambling in the year 2001 with the exponential growth expected to hit a higher percentile in the forthcoming years (Shaffer and Hall 169). Despite a myriad of legislations being passed, gambling has become a lucrative business with more people joining and more side effects being felt by those who are around the players. The report herein will seek to identify any social and economic side effects that have resulted with the continued growth of online gambling in the world and what legislations have been put in place to check such increases. To start with, gambling is defined as the waging of money or anything that may of material value based on an event and its outcome. It requires one to bet and thus forfeit the placed bet in case the outcome of the event is on the contrary. The main intent of all those placing their bets is to win with the stakes depending on how the outcome is. Thus, the fact that it has been allowed to go on by the increasing number of laws and betting sites on gambling, means that it has been accepted as a legal way of doing things and has to be conducted according to the gaming rules (Powers 50). The internet brought about the virtual connectivity of each player and made it easier for people to gamble from closed doors and in the comfort of their own homes. It has

Carrefour company Assignment Example | Topics and Well Written Essays - 1250 words

Carrefour company - Assignment Example items, products, food and merchandise and, secondarily, providing within the said stores all services that may be of interest to the customers was the purpose of establishing Carrefour (2012, p.272). This multi-format, multi-channel and multi-local group comprises of 9,994 stores which operates in thirty three different countries. Followed by the first hypermarket which was opened in 1963 in Sainte-Genevià ¨ve-des-Bois (Essonne), the company out-sourced in 1973, starting business in Spain (2012, p.05). During the consecutive years Carrefour expanded throughout the Europe, America, Middle-East and Asia and currently, more than 10 million customers annually visit Carrefour stores while 25,000 suppliers provide fresh food, grocery and other items such as small house-hold goods, textiles, home appliances (photo equipment, DVDs, sound and multimedia equipment) to its stores which are established worldwide. The objective of the current study is to analyze the activities and strategy of Carrefour which leads to its competitive advantage in the market and adopt Porter’s five forces competition theory model (Carrefour, 2012). The principal risk factors in the industry have been identified and categorized by Carrefour. These risk factors include, 1) business environment: Political and social environment, Economic environment and market volatility, Environment, pressure and regulatory changes, Changes in the sector and the competitive Environment, Natural disasters and climate change, Terrorism and crime 2) strategy and governance: Strategy definition, adjustment and implementation, Compliance and fair practices, Corporate responsibility, Environment, Disputes/Litigation 3) operations: Relevance and performance of economic and business models, Operational and financial control of growth and expansion, Partnerships and franchising, Control of the supply chain, Product quality, compliance and safety, Safety of people and property, Human resource management, Continuity,

Ethics Essay Example | Topics and Well Written Essays - 500 words - 43

Ethics - Essay Example The movie is based on the life of individuals who spend and operate in rented offices and use their ways or illumining wealthy people into investing in their ideas and in the long-run leave they stripped of their hard earned money. These individuals will go miles to prove even to the old people living their pensions on how they can invest on the stock market only to realize that they lost everything they had saved their whole life. Normative ethics seeks to investigate the given set of questions which may come up when evaluating how and why one might opt to act to react or speak morally. It is known to be distinct from  the others like Meta ethic since it tries to understand the standards set and believed to be righteous and the wrong way of taking actions (Kimpel, 52). Seth (Ribisi) ignores this ethic when lies to his family about attending college while in real sense he has been operating a casino in his own apartment which his father disapproves staunchly disapproves. According to Seth, he is fully convinced that he is doing what is right since he makes wads of cash from single transactions which if he didn’t have, he wouldn’t be living a posh life as he does from the little upkeep funds his father gave him. In an aim to please his father who is never proud of the son he has become, he breaths the wind from the famous Long Island which is a New York stocks company which has the rumor that it can turn anyone from a zero to a hero million as long as the person can drive to work their minds off. Applied ethics is phrased as the most humbled field of philosophical ethics that seek to be boost normative theories in specific cases to help individuals in differentiating what is right from wrong(Kimpel, 48). It covers thorny factors especially those in businesses that affect the mode of transacting and how the operations flow. Throw out the film, Seth has been conducting transactions and wooing individuals which he so

Self-Portraits. Journal Essay Example | Topics and Well Written Essays - 750 words

Self-Portraits. Journal - Essay Example Additionally, I do not need to be responsible to anyone or share my practice with anyone; I do not need to dress up, put on make-up, I just need to capture the uniqueness and individuality of me. I choose to do a self-portrait so that I can capture and paint my subject matter as best as I can and as no one else as ever done before. Painting a self-portrait helps me in expressing certain aspects of myself and identities, far beyond the surface of physical appearance. 2. Describe â€Å"your† artistic choices in composition: use of color, space, etc. I consider color to be the most ungovernable and essential element in painting, therefore, when choosing the under painting, the first thing I usually do before I start painting, I am always weary of the color that I will use. I prefer creating a gray scale using Raw Sienna starting at white and mixing a small amount of the preferred color into white; this creates various tones of color. Using burnt amber and ultramarine blue, I mix the black color. Using twelve square scale gives me enough values that I use in painting the self-portrait (Bartel, 2010). As noted earlier, I prefer raw sienna; this is because, it helps in setting charcoal such that, it acts as highlight, which allows for the under painting to be visible through the final paints layer surface; and also, it does not smear into my painting. The colors I use are more affluent and brush strokes are more prominent In order to portray illusionistic form, I borrow the smooth, fine technique utilized by Rembrandt in his paintings (Bruyn, Wetering, & Rijn, 2005). In some areas of my self-portrait where I have used paint with tactile quality, I employ the technique of rough treatment of highly multicolored paint surfaces so as to allow for the portrayal of illusionist form (Albert, 2003). In order to suggest space, I again borrow a technique of leaving large white spaces employed not only by Rembrandt, but by Titian, as well. In addition, I also use of intr icate webs of line in order to get an effect of rich dark tones (Bruyn et al., 2005). Primarily, I am able to create dramatic effects by using shadow and strong contrasts of light, which is an emulation of Rubens’ baroque style. Having read, seen and become familiar some of Venetian art, my use of brushwork is more expressive; and I have developed a tendency of putting figures in parallel to the picture plane. 3. Explain what the portrait represents about â€Å"you† (as the artist.) This self-portrait depicts or represents a happier, although it looks a bit serious, the smile on my face, the look in my eyes, and the grim in my face shows a comfortable, happy, and free soul. The most important thing to note about this portrait is that, it is a unique representation of the real me; I have not in any way attempted to conceal the imperfections on my face, therefore, it leaves very little to be imagined. Apart from accurately representing the physical and emotional uniquene ss of my face, this self-portrait also invites the spectators to study and analyze the techniques I use. For instance, on close inspection of this portrait, anyone familiar with Rembrandt’s work will notice that, my face emerges from the movement of the brush and that my hair is as a result of carefully measured work. 4. Explain â€Å"your† choices of subject with regard to at least three other specific pieces

Business Synoptic Essay Example | Topics and Well Written Essays - 4000 words - 1

Business Synoptic - Essay Example Strategic Posture of Nestle at Corporate Level 13 6.0. Efficacy of Nestle’s Strategic Posture 13 7.0. Alignment of Nestle’s Strategic Posture with its Management Structure and Philosophy 15 References 17 Bibliography 20 21 1.0. Linkage between Strategic Management Accounting and the Realistic Practices of Nestle According to the definition of Strategic Management Accounting (SMA), it efficiently links with the business strategy of a firm and helps to maintain and/or increase its competitiveness. Few basic attributes of the SMA process, relates with the collection of competitors’ information regarding price, products, market share and others; identifying opportunities in global market and recognising the efficacy of company’s strategic position with providing emphasis on the accounting aspects (Collier & Agyei-Ampomah, 2006). With a thorough analysis of Nestle’s case study, it can be stated that the company has achieved a sustainable and at the same time quite impressive growth with a long-term benefit to the company. Two most significant causes to stimulate growth of the company can be identified as strategic management approach and managerial accounting behaviour of the company to take a certain decision. These two theories can be evidently linked with the company’s adopted strategies, with reference to case study and fundamentals of the theory SMA. Nestle’s strategic decisions over the years have been focussed on its expansion in the global platform covering almost every economic market of the world. Thus, one of the company’s most significant strategic decisions can be identified as its aggressive expansion strategies. For instance, the company started expanding its operations worldwide since 1868 and by late 1990s, the company had already acquired the markets of 76 countries and 193 nations to manufacture and market its products respectively. Another strategic decision taken by the company was to diver sify its product lining from simple infant formulas to condensed milk, chocolates, coffee drink, soups and mineral water as well. With this strategic alliance the company was able to achieve a huge amount of profit in western economies, especially in European and the US markets. However, to imply these strategies in an effective and efficient manner the company focussed on few other factors, such as market competency, internal and external environment and others. In this regards, the company can be observed to apply a few analytical measures. For instance, as mentioned in case study, the company observed that markets of Europe and North America were particularly growing rapidly in terms of competition along with stagnant population growth. This in turn acted as a barrier to Nestle’s growth. To be specific, as the population growth was stagnant and number of market players was also increasing rapidly, there was a little scope for Nestle’s growth in the economies. Moreov er, the trends of markets were becoming much favourable for local firms manufacturing the products similar to that of Nestle’s. Realising these facts, the company initiated to expand its market in emerging markets where the population is at rise, demand for branded food items are also increasing and local competitors are also minimum. Hence, the company instigated its operations in eastern emerging countries such as China, India and others. Accordingly, the company also narrowed its market focus to basic food

Insert Abbreviated Title Essay Example for Free

Insert Abbreviated Title Essay It’s a very baffling thing that as humanity and technology has progressed, the rate at which the different diseases have emerged and multiplied has been almost directly proportional. If we look back at the last few generations we find that the diseases that were prevalent then were very different from ours. There was no such thing as the bird flu or the swine flu back then, it was just normal everyday flu which people would get and then recover from in a bit. But today the type of diseases that can be found are numerous with many direct and indirect costs (which are both financial and non financial) linked to them. The Costs The costs that one faces are numerous and it’s not just the person who is afflicted with the illness but all the people around them and the society suffer to some degree or another. The costs are both financial and nonfinancial. The costs of the treatment, the testing, the commuting from the house to the hospital or to wherever the testing and examinations might have to take place, the medication all fall under the heading of direct financial costs related to the disease. The non direct financial costs that are related are time spent away from work, the number of sick leaves one can avail and most of these are without pays. The non direct financial costs also put a strain on the workplace as deadlines are not met and other workers have to try and meet the demands of the employers, creating stress for them which could lead to them falling ill or having high blood pressure or asthma attacks. Ill-Health Costs Introduction, 2005). Other costs that a person faces are the non financial ones where the inflicted person and family and friends go through much agony, trauma and pain hoping for the ordeal to end soon. The more life threatening or severe a disease the more people are worried, they stop taking care of their health, and are constantly worried and hoping things will improve which they may very easily not. Testing and preventing  It is therefore advisable that a person has regular checkups with a doctor especially when they know there is a family history of some ailment or another within the close family (Early Disease Detection , 2008). This saves one from much pain and trauma later also preparing one mentally for what may come. The biggest advantage is that it reduces financial costs to a minimum preventing the major costs that arise when a disease is diagnosed at a later stage, when it might be even more difficult to beat it at its own game making the person terminally ill. Conclusion The lives of everyone in this world are interconnected and dependent on each other in some way or another. It is therefore important that to go on living healthily we take preventive measures to ensure that we lead a healthy life in a healthy environment. If the machine remains well oiled, it will function properly, if not, it’ll creak and squeak and make the functioning of the rest irregular.

Starting and Naming a Business Essay Example for Free

Starting and Naming a Business Essay Betty Wilson’s venture of opening a Christian Coffee House in Belmont, NC, presents her with abundant opportunities in selecting a business form. She is considering the following types of entities: 1) franchise, 2) sole proprietorship, 3) partnership of some sort, 4) corporation of some sort, 5) LLC, or 6) even as a joint venture. We will briefly explore each business option and give Betty concise recommendations as to what business form to pursue as well as what business partners to engage. Franchise A franchise is a legal agreement between franchisers and franchisees that consents use of the franchise’s trademark and trade name or marketing plan to sell products or services (Kubasek, Brennan, Browne, 2012, p. 791). Through a franchising arrangement franchisee can profit from implementing another’s efficacious business model. One of the most attractive advantages is the high probability of success of 90 % as compared to 20 % for small businesses (Staring and Naming a Business Presentation, 2012, Slide 9). Other advantages include established franchise reputation, operational support and training, product research and development, and better access to financing. On the downside, business plan rigidity can deprive the quality of customer service and hinder a creative business owner. Thus, both the Clayton Act regulates business competition and price discrimination (15 USC  §Ã‚ § 12-27; 36 Am J1st Monop etc  §Ã‚ § 141, 142) and the Sherman Act is a federal antitrust act (15 USC  §Ã‚ § 1 et seq; 36 Am J1st Monop etc.  § 141) protect the public and small business owners from monopolization and market power. Sole Proprietorship Sole proprietors own an unincorporated business on their own and this type of business constitutes the most predominant form of business enterprise in the United States (Kubasek, et al., 2012, p. 758). Advantages of a sole proprietor include complete decision-making power, flexibility, easiest and inexpensive to start, enjoyment of all profits, no corporate tax payments, and reporting losses and income on personal tax returns. A sole proprietorship is treated as one entity with the owner. The most significant disadvantage is total personal responsibility for all debts and liabilities, which constitutes the element of risk that drives away investors to more solid business ventures (Kubasek, et al. 2012, p. 758-759). Partnership General. Similar to sole proprietorship, this type of entity is uncomplicated and less costly to create. This is an association of two or more individuals who contribute labor, money, property, and skills and consequently share in the profits of the business. A general partner exists only if the profits are shared and do not only receive a wage or salary (Kubasek, et al., 2012, p. 759). Some of the most enticing features are sharing in the decision-making control, authority different aspects of the business (i.e., management, capital, etc.), and simplified taxing. As with a sole proprietorship, a disadvantage is that each partner has unlimited personal liability for all debts, contracts, and torts. And similarly to any conglomerate of people, differences in views, standards, performance, and expectations can undoubtedly clash and encumber profitable business management. Limited. Limited partnerships consist of both general and limited partners (Staring and Naming a Business Presentat ion, 2012, Slide 4). The main difference of limited partnership to general partnership is that limited partners are not liable in sharing the debts outside the funds they contribute to the partnership. A limited partner is vastly disengaged in management decisions and operations and function solely as contributors of capital. One of the main advantages of this business structure is that they enjoy direct contact to the flow of income. In North Carolina, limited partnerships are strictly controlled by the Uniform Partnership Act (1941, c. 374, s. 1; 2000 140, s. 101(j); 2001 487, s. 20.) administrates the creation, operation, and liquidation of all partnerships formed. Finally, at any time a limited partnership agreement is breached, the business entity is treated as a general partnership. Corporation A corporation is a separate legal entity that possesses distinctive liabilities and privileges than that of their members or shareholders. As an investor, a corporation’s advantage is liability for their own investments especially in risky investments (Kubasek, et al., 2012, p. 760). Among the various types of corporations for Betty to select from, an S corporation is an enticing venture for new entrepreneurs given that it grants limited personal liability for debts, sharing of corporate profits, and taxation relief. Double taxation is a main disadvantage of C corporations but not for S corporations. The General Corporation Law (Corp C  §Ã‚ §100-2319) treats S corporations similarly to partnerships for taxation purposes. Limited Liability Company (LLC) As a hybrid of partnerships and corporations, LLC’s provide limited liability for debts and flexibility to be taxed as a partnership or corporation (Staring and Naming a Business Presentation, 2012, Slide 5). Some specific advantages include being empowered authorities in the management of the business, diversity of members, limited liability, pass-through taxation, and less paperwork (appreciated by many). A drawback of this business structure is the need for a tailored operating agreement that specifies the specific needs of the company. Joint Venture A joint venture is a business partnership that usually involves a specific purpose or goal for its formation and the partnerships dissolve after the goal is attained. The Internal Revenue Service (IRS) normally does not recognize a joint venture as a legal entity so it is treated as a partnership (Staring and Naming a Business Presentation, 2012, Slide 8). This is advantageous in that the partners equally distribute authority to govern, share profits and losses, and contribute labor, money, property, efforts, and skills to expand the success of the business project (Kubasek, et al., 2012, p. 759). According to the Small Business and Work Opportunity Tax Act of 2007 (Public Law 110-28), the only type of qualified joint venture that cannot be treated as a partnership it that of an unincorporated business between a husband and wife. The main disadvantages of joint ventures are uneven collaboration, expertise, management styles, and research to reinforce sound decisions. Recommendation Business name. To determine corporate name availability, Betty must comply with statutory requirements to allow her to name the coffee shop â€Å"Gathering Place.† After utilizing the search engine for the Department of the Secretary of State North Carolina to determine the name availability â€Å"Gathering Place,† generating fifteen results. The businesses range from motels, publishers, books stores, churches, and pastry and coffee shops. Under the hospitality industry, two food service businesses resulted that are Gathering Place Cafà © Sweet Treats, Inc. located in Archdale, NC and The Gathering Place and Bake Shoppe of Fayetteville, NC. Some of the basic apprehensions to the name is that it is confusingly similar and it doesn’t target the desired consumer market. Because it is in a town with no businesses with the same title, Betty can definitely brand her business with the â€Å"Gathering Place† title. Business type. In hindsight, a LLC would grant Betty needed flexibility given the diversity of interested business partners. This business structure is well suited for individuals who can invest into a new venture and have many interested parties as well as needed beneficiaries of taxation privileges. The Delaware Limited Liability Company Act (C  § 18-1101(b) set precedent to the freedom of contract of LLC’s and obligations set forth in operating agreements. Betty would be legally well protected if she entered business with John (husband), Alice (sister), or Erma (neighbor). My recommendation would be for Betty to include John and Erma in the business endeavor and keep Alice outside the endeavor given the strong opposition of her husband. Final Thoughts We can find numerous Bible passages that warn against unequal yoking (i.e., 2 Corinthians 6:14). I would advice Betty to enter into an LLC with her husband John and Neighbor Erma. In spite of her confused perfection of her â€Å"Christian† worldview, Erma can prove to be a good business partner and profit from being in business with a mature Christian such as Betty. References Clayton Act (15 USC  §Ã‚ § 12-27). Corporations Division for Department of the Secretary of State North Carolina (2012). Retrieved from http://www.secretary.state.nc.us/corporations/searchresults.aspx?onlyactive=OFFWords=ALLsearchstr=gathering%20place Delaware Limited Liability Company Act (C  § 18-1101(b). General Corporation Law (Corp C  §Ã‚ §100-2319). Kubasek, N. K., Brennan, B. A. Browne, M. N. (2012). The legal environment of business: A critical thinking approach (6th ed.). Upper Saddle River, NJ: Prentice Hall. Liberty University (2012, Spring). Staring and naming a business. Legal Issues in Business class presentation. Retrieved from http://bb7.liberty.edu/bbcswebdav/pid-15354309-dt-content-rid-74512567_1/courses/BUSI561_D10_201220/presentations/Module%207/index.html Small Business and Work Opportunity Tax Act of 2007 (Public Law 110-28). Uniform Partnership Act of North Carolina ( §Ã‚ § 59-31).

Introduction Of Copd Health And Social Care Essay

Introduction Of Copd Health And Social Care Essay Chronic Obstructive Pulmonary Disease is a group of chronic and progressive respiratory disorders that are characterized by an airway obstruction with little or no reversibility. Damage to the lungs continues to make breathing gradually more difficult over time. Two clinical conditions often associated under the diagnosis of COPD are chronic bronchitis and emphysema, which obstruct or limit airflow into the lung fields. Chronic bronchitis is the presence of chronic productive cough for three months in each of two consecutive years in a patient in whom other causes of chronic cough have been excluded. Emphysema is an abnormal permanent enlargement of the air spaces distal to the terminal bronchioles, accompanied by destruction of their walls and without obvious fibrosis (Lewis, S., Heitkemper, M., Dirksen, S., OBrien, P., Bucher, L., 2007, p. 629). Most patients diagnosed with COPD suffer from both pathological conditions, but manifestations can vary significantly from patient to patient. According to Medline Plus (n.d.), Your airways branch out inside your lungs like an upside-down tree. At the end of each branch are small, balloon-like air sacs. In healthy people, both the airways and air sacs are spring and elastic. When you breathe in, each air sac fills with air like a small balloon. The balloon deflates when you exhale. In COPD, your airways and air sacs lose their shape and become floppy, like a stretched-out rubber band (Medline Plus, n.d., para.2). These disease processes affect the bronchi, bronchioles and lung parenchyma with predominance on distal airway. COPD is a growing health problem not only in the United States, but also worldwide. In 2005, approximately one in 20 deaths in the United States had COPD as the underlying cause. Smoking is estimated to be responsible for at least 75% of COPD deaths (Centers for Disease Control and Prevention, 2008, para.1). The Centers for Disease Control and Prevention (CDC) also estimates that there are over 119,000 deaths, 726,000 hospitalizations, and 1.5 million hospital emergency department visits are caused by COPD annually(Centers for Disease Control and Prevention, 2009, para. 2). Even more alarming are the statistics world-wide. The World Health Organization (WHO) (2007), revealed that currently 210 million people have COPD and 3 million people died of COPD in 2005. WHO predicts that COPD will become the third leading cause of death worldwide by 2030 (World Health Organization, 2009, para.3). With statistics this rampant, what exactly are the manifestations that cause COPD? Etiology/Prognosis: There are several causes of COPD. Of all potential inhaled pollutants, cigarette smoking is the primary risk factor thought to contribute to COPD. Patients with a history of smoking a pack per day, over forty years, are especially predictive of COPD development. Exposure to passive cigarette smoking, air pollution, occupational hazards such as dust or fine particles (coal or silica dust, asbestos) and childhood respiratory disorders such as severe viral pneumonia can also contribute to the development of COPD. The elderly, patients with a low body weight and clients with a history of alcohol abuse are also susceptible. Prognosis of COPD is highly dependent upon the degree to which the patients breathing is affected and the ability to manage dyspnea, the ability of the heart to oxygenate other body systems. It is also dependent upon how damaged the lungs are upon diagnosis and if they are able to continue to oxygenate the blood without difficulty. Early diagnosis of COPD can help identify predisposing factors; such as smoking, and help provide a better prognosis through smoking cessation and deep breathing exercises to help ensure that the disease does not progress. A late diagnosis, that has affected the patients ability to perfuse vital organs, can result in organ failure on multiple levels and prognosis can be very grim. Further evaluation may be needed to determine the full extent of damage from lack of tissue perfusion. Pathophysiology: Chronic Obstructive Pulmonary Disease can be a result of chronic bronchitis and emphysema. An enlargement and multitude of mucous glands are produced with chronic bronchitis, resulting in an increased mucous production and a characteristic cough. Apart from the amount of mucous produced; the quality of the mucous also becomes more viscous in nature, making it harder for the patient to expel. Accumulation of excess mucus causes airway obstruction in the peripheral airway and therefore an increase in airway resistance. Lymphocytes, neutrophils and macrophages also accumulate which can lead to fibrosis or a formation of excess fibrous connective tissue in the lung fields as an attempt to repair the area. Emphysema results in large part from an enlargement of airspaces distal to terminal bronchioles. The loss of elasticity of the lung tissue and the closure of small airways is due to the destruction of the alveolar walls. When the connective tissue is destroyed in the alveolar walls, protease is released, further destroying elastin and inhibiting the ability of the alveoli to recoil. Protease affects structural integrity of the alveolar wall. In a healthy individual, the ability of the alveoli to recoil helps to maintain the patency of the airway lumen, especially during expiration. With COPD, there is airflow limitation due to loss of alveolar attachments, inflammatory obstruction of airways and obstruction of the terminal branches with mucus. Airways begin to narrow due to the inflammation, resulting in a loss of elastic recoil and loss of alveolar attachments. Ciliary function in COPD is also abnormally impeded. Cilia in the airway wall normally acts as a force to help thrust mucus or other foreign bodies toward the trachea for expulsion from the body. This function is often impeded by the thick and firm mucus often seen with chronic bronchitis. Lack of ciliary function increases the risk of recurrent infections in the lungs due to accumulation of these foreign particles within the lung fields. Destruction of the alveoli and profuse mucous accumulation destroys the ability of the body to deliver oxygen, resulting in hypoxia. The patient suffering from COPD often struggles to breathe and hypoxic-related dyspnea systemically affects other areas of the body ofte n leading to pulmonary hypertension and heart problems such as heart attacks and right-sided heart failure. Patients with COPD are more prone to respiratory infections, lung cancer and depression. Signs and symptoms of COPD usually do not occur until significant damage to the lungs and other body systems have occurred. Signs and Symptoms: Patients with COPD usually present with signs and symptoms of both emphysema and chronic bronchitis to include a continuous hacking-type cough that produces a thick mucus which is often hard to expectorate. Patient may also complain of significant shortness of breath that presents particularly with exercise or exertion. Clients may also complain of difficulty sleeping with constant fatigue and an abrupt, unplanned weight loss. Patients typically also present with rapid breathing, barrel-like distention to chest and will sit often in a tripod position, leaning forward with arms braced against their knees, chair, or bed. This gives them leverage so that their rectus abdominus, intercostals, and accessory neck muscles all can aid in expiration (Jarvis, C., 2008, p. 449). Due to lack of oxygen the patient might also present with cyanosis of the skin, wheezing and chest tightness, with possible signs and symptoms of respiratory infection. Patients with COPD can also experience exacerbatio ns, which are periods or episodes where the patients COPD symptoms can suddenly worsen. Exacerbations can be caused by influenza, infections or exertion. Other contributing factors include a rapid change in humidity or temperature, exposure to smoke or other pollutants, allergens and dust. According to report from the Global Initiative for Chronic Obstructive Lung Disease (GOLD) (2009), COPD can be broken down into four various stages to include: Stage I: mild COPD: Characterized by mild airflow limitation predicted. Symptoms of chronic cough and sputum production may be present, but not always. At this stage, the individual is usually unaware that his or her lung function is abnormal. Stage II: moderate COPD: Characterized by worsening airflow limitation with shortness of breath typically developing on exertion, with a productive cough. This is the stage at which patients typically seek medical attention because of chronic respiratory symptoms or an exacerbation of their disease. Stage III: severe COPD: Characterized by further worsening of airflow limitation, patient experiences an even greater degree of shortness of breath, reduced exercise capacity, fatigue, and repeated exacerbations that almost always have an impact on patients quality of life. Stage IV: very severe COPD: Characterized by severe airflow limitation with the presence of chronic respiratory failure. Respiratory failure may also lead to effects on the heart such as cor pulmonale (right heart failure). At this stage, quality of life is very appreciably impaired and exacerbations may be life threatening (GOLD Report, 2009, p.4). With the varying manifestations in the progression of the disease, providers must take into account the assortment of challenges and medical interventions necessary in the treatment of COPD. COPD: Medical Interventions Diet Plan: Needs and Modifications: Individuals with COPD have overall muscular weakness, including the respiratory muscles, that relates to systemic inflammatory process in the lungs. Diet is an important factor to take into consideration, especially in the elderly because the risk for malnutrition increases. COPD and malnutrition go hand in hand, malnutrition and a low BMI of Individuals who are underweight have an underlying problem that relates to an increased metabolism and the breakdown of essential nutrients for energy requirements. In these individuals it is best to modify their eating habits, with frequent breaks to decrease fatigue. It takes a lot of energy to metabolize food, breathing and eating become harder, [the individual] may have to choose between taking a gasp of air or a bite of food (ONeill, 2004, para. 3). For those who are overweight, the problem as it relates to COPD is due to excess abdominal fat. Abdominal fat prevents the diaphragm from expanding completely, which causes a decrease in oxygen availability. This decrease in oxygen compromises the cardiovascular system due to the inadequate amount of oxygen being delivered to the heart and throughout the body. Both malnourished and obese individuals need to monitor weight, food and fluid intake daily. According to Peggy ONeil (2004), intake of fluids, calories, protein, calcium and potassium all play a role in protecting immunity and easing breathing (ONeil, 2004, para. 8). The American Lung Association states that the metabolism of each [nutrient] requires a different amount of oxygen and produces a different amount of carbon dioxide. Metabolism of carbohydrates produces the most carbon dioxide for the amount of oxygen used; metabolism of fat produces the least (American Lung Association, 2010, para. 3). Good sources of fat should come from unsaturated fats such as nuts, olive oil, soy and avocados. Protein is essential for muscle repair and assists in the healing process when an infection or injury occurs. ONeil recommends that generally two cups of milk plus six ounces of protein from other sources each day provide four servings of high-quality protein, good sources of protein, which is adequate for someone with COPD (ONeil, para. 12). Potassium is found in fruits, vegetables, dairy products and meats [and are] key to control blood pressure, muscle contraction, and nerve impulses transmission. Normal serum potassium levels help with optimal muscle contraction to aid breathing (ONeill, para. 15). Excessive need for increased nutritional intake is imperative for the adequate daily functioning and maintenance in the COPD client. In order to facilitate sufficient digestion and proper absorption of food the patient should remain upright after meals to prevent the stomach from pushing on his diaphragmà ¢Ã¢â€š ¬Ã‚ ¦limit intake of carbonated beveragesà ¢Ã¢â€š ¬Ã‚ ¦[and to consume] soft, easy-to-chew foods to prevent him from becoming short of breathe while eating (ONeil, 2004, para. 16). Consumption of clear fluids should be encouraged to prevent dehydration and also to help thin mucous secretions. Appropriate Medications and Diagnosis: Although there is controversy over the amount of oxygen to give a patient with COPD, it is generally understood that the long term use of oxygen therapy improves survival, exercise capacity, cognitive performance, and sleep (Lewis et al., p. 640). There are various ways that oxygen therapy can be administered to a patient with COPD. In hospitals the most precise delivery of oxygen therapy is through the use of the venturi mask, however most patients prefer to use the nasal cannula. The structure of the nasal cannula allows the patient to perform daily activities such as eating and talking without interrupting oxygen delivery. When oxygen therapy is used in conjunction with smoking cessation it improves the patients quality of life by increasing the amount of available oxygen and increasing systemic perfusion. Depending on the severity of COPD, bronchodilators such as beta2-antagonist, anticholinergic, and methylxanthine (Lewis et al., 2007, p. 639) will be given to relax the smooth muscles of the airway, and to increase gas exchange. These medications can be administered as an inhalant or by the oral route. For those experiencing moderate-to-severe COPD, glucocorticoid therapy may be combined with a bronchodilator to decrease inflammation of the airways. Inhaled glucocorticoids are preferred over oral glucocorticoids for long term treatment, because oral treatments can lead to adrenal insufficiency and Cushings syndrome. (See Appendix A). Patient should expect to experience improved oxygen utilization. Diagnostic Tests and Lab Work: Pulmonary functions test measures the intake and output of air in the lungs and is used to confirm the diagnosis of COPD. There are four components to pulmonary function testing, [which consist of]: spirometry, postbronchodilator spirometry, lung volumes, and diffusion capacity (Chronic Obstructive Pulmonary Disease Diagnosis, 2010, para. 3). Also, there are many diagnostic studies that support the diagnosis of COPD, such as chest x-rays, arterial blood gases, echocardiogram and electrocardiogram (ECG) (Lewis et al., p. 638). X-rays are not the preferred method of diagnosing COPD since it cannot pick up abnormalities until COPD is in the later stages. Arterial blood gases are performed to monitor the amount of oxygen and carbon dioxide in the blood. In individuals with COPD typical findings are low PaCO2, elevated PaCO2, decreased or low-normal pH, and increased bicarbonate (HCO3) levels (Lewis et al., 2007, p. 638). COPD can cause right sided heart failure related to pulmonary hypertension so patient should be monitored regularly by ECG and echocardiogram. As discussed earlier, changes in the lungs are related to smoking, toxins in the environment or occupation. In order to identify the causative effects of these toxin, clinical trials are being conducted to development new diagnostic tests that are aimed at identify early neoplastic changes in the lung. For example, advanced imaging techniques such as the PET scan is able to reveal metabolically active nodule [that are] highly indicative of malignancy (Petty Miller, n.d. p. 7), that could not be found with prior diagnostic tests. Also, a tissue autofluorescence, which is an enhanced bronchoscopy technique, can indicate a high likelihood of malignancy (Petty Miller, p. 7) in the lung tissue, that cannot be seen in a CT scan or chest X-ray. Hopefully, these clinical studies as they become available to the general population, will not only identify acute changes in the lung structure in advance, but also could potentially assist in finding a cure for lung diseases. Treatment and Treatment Options: Medications can make COPD patients more comfortable, but there is no overall curative treatment. The disease itself extends beyond the airways and lungs to include other body systems, (Barnett, 2008, p. 30). The goal in treatment is aimed at the controlling the symptoms involved in these various areas of the body and to reduce the inflammatory response in the lungs. To do this, the patient will need to modify their diet and lifestyle habit to prolong the quality of their life. As discussed earlier, emphysema and bronchitis constitute the disease known as COPD. The management and treatment of these two diseases is necessary for the patient to live a quality life. The medical treatments used to treat COPD was reviewed earlier, there are also non-pharmacological treatment options available that slow the progression of the disease and the symptoms of chronic obstructive pulmonary disease. One non-pharmacological treatment option is pulmonary rehabilitation. The goal of this treatment is to: break the vicious cycle of increasing inactivity, breathlessness and physical de-condition, and improving exercise capacity and functional status as well as improving individual patients self-management skillsà ¢Ã¢â€š ¬Ã‚ ¦Pulmonary rehabilitation is conducted by physiotherapist and respiratory nurses. Each session is based on the patient exercise tolerance and consists of one to two sessions a week for about an hour, for 6-8 weeksà ¢Ã¢â€š ¬Ã‚ ¦ then followed by an educational component to enable to the patient to make lifestyle changes to help them cope better with living with COPD (Barnett, p. 31). There are various energy conservation techniques that a patient can use to improve the quality of available oxygen. Often COPD patients struggle to breathe. The overall goal of the following energy conservation techniques is to help the patient breath better and to improve activities of daily living by relieving the distressing symptoms that accompany COPD. According to Barnett (2008), these techniques are: Exhale during strenuous part of an activity and use pursed lips to reduce to work of breathing, alter strenuous activities with easier tasks, place items within easy reach, to reduce bending and stretching for items, If needed, use aids and equipment such as electronic wheel chairs and to sit down to perform many of the daily activities (Barnett, 2008, p. 32). With a healthy individual, there is a low residual of air that remains in the lung. With the COPD patient, the volume of trapped air is increased and therefore decreases oxygen exchange within the lungs. Stress reducing techniques can help relax the patient. Therefore the patient can exhale the excess retained carbon dioxide and inhale even greater amounts of saturated oxygen with each new breathe. Hence, the efficiency of oxygen and carbon dioxide exchange is improved. Individuals should be updated on immunizations, even more so if a patient has COPD. According to the CDC (2010) adult immunization schedule, patients with chronic lung disease are required to have one annual influenza and one or two pneumococcal inoculations within the patients lifetime (CDC, 2010, p. 2). If the patient becomes infected with influenza or pneumonia, damage to the lung fields can be exacerbated if not treated quickly and can possibly lead to death. COPD: Holistic Assessment of Patient Scenario: Mr. Johnson is a 73 year old male who has presented to the Emergency Department for the third time this week with dyspnea. Patient has been smoking a minimum of one pack per day for the past 46 years. Patient is currently on two liters of supplemental oxygen at home via nasal cannula and states that he cannot seem to catch his breath. Mr. Johnson is leaning over the side of the bed in tripod position, gasping with supraclavicular retractions noted on inhalation. As a nurse, what do you think could be wrong with your patient? Physical Assessment Upon further evaluation, the nurse notices that Mr. Johnson also has a non-productive hacking-type cough that has persisted throughout the triage process. Mr. Johnson complains, I just cannot seem to get this thick mucus up out of my throat and I feel like I am suffocating, like I cannot catch my breath! Patient appears to be bracing himself over the side of the chair in a tripod position. The nurse is a waiting for the provider to place orders in the computer for the clients chest x-ray. A venturi mask is placed on the patient and oxygen delivery is set to be administered at three liters of oxygen per minutes. This intervention successfully alleviates the patients rapid and shallow respirations, as well as the circumoralcyanosis. Upon auscultation the nurse notices diminished lung sounds over the left and right lower lung fields with auditory wheezing upon exhalation. The nurse also notices a barrel-like distention to the patients chest. The nurse begins to take the patient to radio logy and abruptly stops as the patient begins to weep inconsolably. What could be the likely factor associated with the emotional reaction exhibited with the patient? Psychosocial Assessment: To make an accurate assessment of the patients psychological reaction, the nurse casually begins to inquire about the patients daily activities. The patient divulges to the nurse that he has lost his job, is no longer able to care for himself and feels a sense of guilt that he has become burdensome on his family members. Patient states, I have a loving family, but feel as though they would be better off without me. I know I shouldnt feel this way, but I have been depressed and feeling lonely for some time now. The nurse recognizes that the patient is displaying signs of depression, low self-esteem and lack of autonomy with loss of control over his personal life. The priority nursing interventions for this patient should include a referral to a mental health agency and community outreach programs that can assist the patient to meet the psychological strains produced by his current health situation. The patient then covers his face and whispers in a soft undertone, I cannot even afford to pay for my groceries, much less this visit! How can I afford this referral? With this statement in mind, what priority nursing assessment should the nurse consider? Socioeconomic Assessment: Mr. Johnson is one of many faces dealing with the strains and financial hardship associated with COPD. The overall costs of COPD are overwhelming. According to the Harvard University (2008), the annual cost to the nation for COPD (emphysema and bronchitis) is approximately $32.1 billion, including healthcare expenditures of $18.0 billion and indirect costs of $14.1 billion (Harvard University: Healthcare delivery- Deconstructing the costs, 2008, para 58). The global statistics are even more astounding. According to the American College of Chest Physicians (2003), the global direct yearly costs of chronic bronchitis and COPD patient was $1876. The cost generated by the patients with COPD was $1,760.00 [per patient/year/costs], but the cost of severe cases ($2,911 per year) [per patient/year/costs] was almost double that of mild cases ($1484 per year) [per patient/year/costs] (Miravitlles, Murio, Guerrero, Gisbert, 2003, p.786). With these statistics in mind, what are some of the teac hing points that a nurse can utilize to assist the COPD patient? Health Teaching and Community Resources: The nurse must take in various considerations when assisting the COPD patient. How well is the patient able to tolerate activity? Does the patient suffer from dyspnea related disturbance in their sleep pattern? What are the patients physical or financial resources? A patient that has a hard time meeting monthly utility bills is far less likely to be compliant with a medical regime. The nurse should focus on trying to coordinate social work service to help the patient to meet healthcare needs. If the patient has a family member, how does this affect his or her role if they are primary breed winner in the family? Interview should point out any psychological stressors that may be affecting the patient and should determine if therapy may be required. Primary education should focus on convincing the patient to quit smoking. Inform the patient to keep up to date on immunizations such as annual flu and pneumonia vaccines. Patient should compliantly take prescribed medications and avoid second-hand smoke or exposure to other irritants such as dust, smog, extreme heat or cold and high altitudes, pollutants that can exacerbate symptoms. COPD patients must increase fluid intake to decrease viscosity of mucous secretions in addition to maintaining an adequate nutritional status to facilitate extra nutritional requirements. Diets should be low in saturated fat and should include various fruits, vegetables and whole grains. Highly emphasize to the patient that use of oxygen therapy should be only used as directed and control of respirations with pursed lip technique. Direct the patient to take frequent breaks to minimize fatigue. Pacing of activities throughout the day will minimize undue stress on the lungs. It may be necessary to coordin ate follow-up appointments for the patient; however signs and symptoms such as shortness of breath, wheezing or the desire to lean forward to aid in breathing will warrant an earlier visit. A trip to the emergency room will be necessary if the patient starts to have sudden, severe shortness of breath, or if they become lightheaded, weak, faint or experience chest pain with a rapid, irregular heart rate. Conclusion Chronic Obstructive Pulmonary Disease is a progressive and debilitating disease process that wreaks havoc on the patients cardiovascular and respiratory systems. Management of COPD can be maintained and symptoms minimized through adequate diet interventions, medication regimens, completing diagnostic exams and lab tests. Though COPD is a preventable disease, the realistic nature of the disease process requires a nurse that is knowledgeable, caring and sympathetic to the patients overall needs.