Investment: Time Value of Money Essay

Investment is the use of money for a future financial gain. Investments may come in the form of shares of stock, life insurance, government bonds, or putting up a savings account. Every investment decision has its underlying risks and uncertainties. Various factors can affect investment decisions and outcomes such as annuities and time value of money. Money has a time value. A dollar now is worth more than a dollar to be received at any later date. Many economic decisions involve investing money now in the hope of receiving more money later on. Various economic factors affect the time value of money such as risk, inflation, opportunity cost, and others. According to Robert C. Higgins (1999), â€Å"time value of money exists for at least three reasons†. Robert C. Higgins (1999) stated that â€Å"inflation reduces the purchasing power of future dollars relative to current ones, uncertainties surrounding the receipt of dollar increases as the date of receipt draw away, and because of the presence of opportunity cost†. In economics, inflation is a decline in the value of money in relation to the goods and services it can buy. Inflation can affect time value of money and investment decisions. Due to inflation, borrowers usually benefit while lenders suffer, because mortgage, personal, business, and government loans are paid with money that loses purchasing power over time (Encarta, 2004). It is important to understand however, that borrowers only benefit when the inflation is unexpected, when inflation is expected by creditors, the interest rate they charges rises to compensate for the unexpected decline in the purchasing power of the principal loan (Encarta, 1999). Risk or financial risk is defined as the possibility of loss in an investment. Investment decisions involve some type of risk because of the time value of money. Lenders should take into consideration various factors before extending credit such as the borrower’s ability to pay or collaterals. Interest rates on loans can also be based on the degree of risk involved. The higher the risk involved the higher interest rate. On the other hand, lower interest is imposed on low-risk loans. As mentioned above, investment decisions has its underlying risk and uncertainties, therefore before making investment decisions it is important to understand the risks and uncertainties involved. Opportunity cost is defined as the expected income on the next best alternative or the income foregone if an investor chooses one action over another (Higgins, 1999). A dollar today is worth more than a dollar in the future since money today can be invested for it to double in the future. Opportunity cost depends on what action is to be considered. Before making decisions, an investor must first look for and obtain an understanding of all the available alternative courses of action. After determining the various alternatives, the differential effects of each alternative should be considered to avoid potential problems in the future. Interest is the payment made for the use of another person’s money and is regarded as a payment made for capital (Encarta, 2004). Interest can be affected by economic factors such as inflation. When interest is computed based on the principal amount, it is called simple interest. However, when interest is computed not only on the principal amount but also on the cumulative total of past interest payments, the process of interest computation is now called compounding. Compounding is the process of determining the future value of a present sum (Higgins, 1999). The interest rate used on compounding is called the compound interest rate.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Discounting, on the other hand is the exact opposite of compounding. Discounting is the process of finding the present value of a future sum (Higgins, 1999). The interest rate used in discounting is called the discount rate. The amount of money to be received in a future date is usually a combination of the original investment and the interest on that investment. Discounts are rewards or considerations given on the purchase of negotiable instruments such as bills of exchange and promissory notes in advance of their maturity date. When these negotiable instruments are said to be discounted, discounts are regarded as advance collection of interest on the loans. An annuity is a type of investment that can provide a steady stream of income over along period of time (Understanding annuities, 2006). Annuity is an annual allowance, payment, or income derived from funds especially designated for the purpose (Encarta, 2004). At times, it is required to compute for the present value of a series of equal amounts to be received at the end of a series of years. Annuity earnings grow tax-deferred and are usually purchased by investors who are primarily concerned with limiting their taxes (Understanding annuities, 2006). The rule of 72 is a method of estimating an investment’s doubling time or halving time (Rule of 72, 2006). The Rule of 72 estimates the number of years it takes for an investment’s value to double at a specific interest rate or rate of return and the result can be obtained by dividing the expected growth rate into 72 to determine the number of years it will take to double. By taking into consideration the rule of 72, investors can assess the length of time in which their investment can double and to determine if their investments are feasible. Investing involves the decision of committing resources such as money for a period of time. Evaluating investment decisions involve the determination and assessment of the possible inherent risks and uncertainties. An effective investing decision requires a consideration of the time value of money. References Encarta Reference Library 2004. Microsoft Corporation Higgins, R. (1999). Analysis for financial management. Evaluating investment opportunities (pp 231-266). Washington. Irwin McGraw Hill. Rule of 72 (2006). Wikipedia, the free encyclopedia. Retrieved December 3, 2006 from: http://en.wikipedia.org/wiki/Ruleof72 Understanding annuities (2006). Retrieved December 3, 2006 from: http://www.tdi.state.tx.us/consumer/cb078.html   

African-American History Since 1877

Film Analysis Gregory Hamlin HIST 222. African-American History Since 1877 Professor Alli Chambers American Military University October 14, 2012 Documentary Film Analysis Worksheet History 222 – African American History Since 1877 Instructions: †¢ You will find the list of films you can choose from in the assignment section of the course. †¢ Go to the list and pick your film. You must view the entire film. If you can’t access films because of deployment, geographic location, or other reasons, please let your instructor know so they can give you an alternate assignment. Please type you answers into this sheet. You must submit the worksheet two ways: 1) upload the worksheet as a Word document 2) cut and paste your answers into the student response box for the assignment. †¢ You must answer in complete sentences, using a short answer/paragraph format. 1. What is the title of the film you picked? The title of the film I picked was â€Å"A Class Divided†. 2. Why did you pick this film over the others offered? The reason I picked this film was because of the message it offered. The message was brought about at a time where most people who agreed with the message were a minority.This message changed the individual’s lives that were part of the documentary. 3. What is/are the central message(s) of this documentary/fictional film? Be specific. Use examples from the film to support your choice. The central message of this documentary was to never discriminate. â€Å"Discrimination is the treatment or consideration of, or making a distinction in favor of or against, a person or thing based on the group, class, or category to which that person or thing belongs rather than on individual merit† (Discrimination).Discrimination can come in a variety of ways, such as racial or sexual discrimination. The discrimination that was most talked about in this film was racial discrimination. In 1968 a teacher by the name of Jane Elliot asked her students what they thought of other racial groups such as African Americans and Native Americans. They stated that they were dumb and explained the different obscenities that were thrown at them. In response, the teacher from the film set up a scenario where she divided her class into two groups according to eye color.There was a brown eye color group and a blue eye color group. She told the class that the blue eye color group was more superior to the brown eye color group. The brown eye color group was not as smart, they could not use the water fountain, and the blue eye color group had extra time for recess. This caused the brown eye color group to be unfocused, unhappy, and humiliated. The next day the teacher switched the groups around so that the blue eye color group was the more superior. This caused the blue eye color group to feel the same as the blue eye color group the previous day.At the end of this scenario she asked both groups how it felt when they were the l ess superior group. They stated that they did not like it and they hated being separated from their peers. Then she asked them should they treat people with a different color differently and they stated no. Then she asked should they treat people of a different skin color different, they gave the same response (Peters). This taught the children not to discriminate against anyone and they learned not to discriminate by playing those scenarios.This message was incredibly strong. 4. Consider the effectiveness of the film for this history class. What are its strengths and weaknesses of this film in documenting history? The effectiveness of this film is very strong because of the fact it shows that we all deserve to be treated equally. This is important to this history class because in the lessons we learn during this class deal with Civil or Equal rights of all Americans. The film was a documentary about the lessons a classroom of children and adults learned from a teacher about discrim ination.No one should be discriminated against. The only weakness I saw in this film was that the studies that were done transpired in a prominently white community where they do not deal with other minorities on a day to day basis. Due to this fact, the study is not as realistic as it could have been if it were to transpire in a community where there is more diversity. 5. How do you think the filmmakers want the audience to respond? Is there a social justice message? If so, what is it? I think the filmmakers wanted the audience to respond to this film positively.The documentary had to be a breath of fresh air during the time frame it was produced. It was created during a time were discrimination and prejudice was very common among whites and minorities. The social justice message is to treat everyone equally and do not discriminate based on the color of one’s skin. 6. Did the documentary leave you with any unanswered questions? If so, what were they? An unanswered question I had about this documentary was whether or not the teacher experienced seeing minorities treated a certain way that made her want to teach others to never discriminate against one another?Did her parents raise her to treat everyone equally or is this something she wanted to do on her own? 7. How did this film change any misconceptions or stereotypes you had about the subject matter? If so, what were they? This film did not change any misconceptions or stereotypes I had about the subject of discrimination. I was raised in the south where I have faced discrimination from white people. I have also become friends with white people who do not discriminate at all and were raised with the same values instilled in them as some of the individuals from this film. 8.What is the most important thing you learned from watching the film? The most important thing I learned from this film is that there are people out there who genuinely care for others and how they feel. This teacher from Idaho did not have to teach those children that discrimination was incorrect. She just genuinely cared for these children to grow with good moral values. 9. Why is this film important to understanding contemporary African American History? This film is important to understanding contemporary African American History because discrimination was huge issue during the Civil Rights Movement.It took men like Martin Luther King to stand up for minorities and speak out against discrimination and other various issues. As a result the Civil Rights Act of 1964 came about that put an end to lawful discrimination. Bibliography Discrimination. Dictionary. com.  © Encyclopedia Britannica, Inc.. Encyclopedia Britannica, Inc.. http://dictionary. reference. com/browse/discrimination (accessed: October 14, 2012). Peters, William. â€Å"A Class Divided. † Recorded March 26 1985. Web, http://www. youtube. com/watch? v=GouGUeB3fYs.

Manage Budgets And Financial Plans Essay

This project, I chose Woolworths Limited Annual Report 2012 to answer the following questions: To whom is this report disseminated and how is this done? â€Å"The financial report provides people who are interested in a company – such as shareholders, lenders, analysts and employees – with information about the financial performance and financial position of the company†( A guide to understanding annual reports 2012). It is one means by which directors of the company advise shareholders on how the business has performed during the year. The financial report also provides information to shareholders on how the directors have discharged their responsibilities. In other words, Current shareholders and potential investors remain the primary audiences for annual reports. Employees (who today are also likely to be shareholders), customers, suppliers, community leaders, and the community-at-large are also targeted audiences. Employees The annual report serves many purposes with employees. It provides management with an opportunity to praise employee innovation, quality, teamwork, and commitment, all of which are critical components in overall business success. In addition, an annual report can also be used as a vehicle to relate those company successes—a new contract, a new product, cost-saving initiatives, new applications of products, expansions into new geographies—that have an impact on its work force. Seeing a successful project or initiative profiled in the annual report gives reinforcement to the employees responsible for the success. The annual report can help increase employee understanding of the different parts of the company. Many manufacturing locations are in remote areas, and an employee’s understanding of the company often does not go beyond the facility where he or she works. An annual report can be a source for learning about each of a company’s product lines, its operating locations, and who is leading the various operations. The annual report can show employees how they fit into the â€Å"big picture.† Employees also are often shareholders. So, like other shareholders, these employees can use the annual report to help gauge their investment in the company. In this case, the annual report can serve as a reminder to employees of the impact that the work they do has on the value of the company’s stock value. Customers Customers want to work with quality suppliers of goods and services, and an annual report can help a company promote its image with customers by highlighting its corporate mission and core values. Describing company initiatives designed to improve manufacturing processes, reduce costs, create quality, or enhance service can also illustrate a company’s customer orientation. Finally, the annual report can also show the company’s financial strength. Customers are reducing their number of suppliers, and one evaluation criterion is financial strength. They want committed and capable suppliers that are going to be around for the long term. Suppliers A company’s abilities to meet its customers’ requirements will be seriously compromised if it is saddled with inept or undependable suppliers. Successful companies today quickly weed out such companies. By highlighting internal measurements of quality, innovation, and commitment, annual reports can send an implicit message to suppliers about the company’s expectations of outside vendors. Sometimes an annual report will even offer a profile of a supplier that the company has found exemplary. Such a profile serves two purposes. First, it rewards the supplier for its work and serves to further cement the business relationship. Second, it provides the company’s other suppliers with a better understanding of the level of service desired (and the rewards that can be reaped from such service). The Community Companies invariably pay a great deal of attention to their reputation in the community or communities in which they operate, for their reputations as corporate citizens can have a decisive impact on bottom-line financial performance. A company would much rather be known for its sponsorship of a benefit charity event than for poisoning a local river, whatever its other attributes. Annual reports, then, can be invaluable tools in burnishing a company’s public image. Many annual reports discuss community initiatives undertaken by the company, including community renovation projects, charitable contributions, volunteer efforts, and programs to help protect the environment. The objective is to present the company as a proactive  member of the community. This sort of publicity also can be valuable when a company is making plans to move into a new community. Companies seek warm welcomes in new communities (including tax breaks and other incentives). Communities will woo a company perceived as a â€Å"good† corporate citizen more zealously than one that is not. The good corporate citizen also will receive less resistance from local interest groups. The company’s annual report will be one document that all affected parties will pore over in evaluating the business. The way that the company publish it annual report, most listed companies publish their financial statements and reports on their website and notify shareholders of its action including Woolworths Limited. Alternatively, a company may elect to send shareholders a hard copy or a concise report. A shareholder has the right to receive a hard copy, but must specifically request the printed version. Copies are lodged with ASIC and the ASX and are available for inspection online. Why do these people need the information contained in the annual report? Those people need the information contained in the annual report because the financial accounts provide a wealth of information that is useful to various users of financial information, as summarised below: User Interest in / Use of Accounting Information Investors Investors are concerned about risk and return in relation to their investments. They require information to decide whether they should continue to invest in a business. They also need to be able to assess whether a business will be able to pay dividends, and to measure the performance of the business’ management overall Lenders Banks and other financial institutions who lend money to a business require information that helps them determined whether loans and interest will be paid when due Creditors  Suppliers and trade creditors require information that helps them understand and assess the short-term liquidity of a business. Is the business able to pay short-term debt when it falls due? Customers & Debtors Customers and trade debtors require information about the ability of the business to survive and prosper. As customers of the company’s products, they have a long-term interest in the company’s range of products and services. They may even be dependent on the business for certain products or services Employees Employees (and organisations that represent them – e.g. trade unions) require information about the stability and continuing profitability of the business. They are crucially interested in information about employment prospects and the maintenance of pension funding and retirement benefits. They are also likely to interested in the pay and benefits obtained by senior management! Government There are many government agencies and departments that are interested in accounting information. For example, the IR&CE needs information on business profitability in order to levy and collect Corporation Tax. Various regulatory agencies (e.g. the Competition Commission and the Environment Agency) need information to support decisions about takeovers and grants, for example. Analysts Investment analysts are an important user group – specifically for companies quoted on a stock exchange. They require very detailed financial and other information in order to analyses the competitive performance of a business and its sector. Much of this is provided by the detailed accounting disclosures that are required by the London Stock Exchange. However, additional accounting information is usually provided to analysts via formal company briefings and interviews. General public Interest groups, formed by various groups of individuals who have a specific interest in the activities and performance of businesses, will also require accounting information. Table: User of account (Riley 2012) What financial information does the report offer-describe the contents of the report and explain Under the Companies Act is required to prepare a set of accounts that give a true and fair view of its profit or loss for the year  and of its state of affairs at the year end. Woolworths Annual accounts include: Performance Summary Growth Plans Chairman’s Report Managing Director’s Report The Results in Brief Food, Liquor and Petrol General Merchandise Hotels Home Improvement Consumer Electronics Discontinued Operations Overheads, Expenses and Balance Sheet Capital Management and Outlook Board of Directors Directors’ Statutory Report Remuneration Report Auditor’s Independence Declaration Corporate Governance Statement Financial Report to Shareholders Shareholder Information For Woolworths Limited, It is a parent company due to it also owns other companies subsidiaries. Therefore, there are consolidated accounts in its annual report. There are many contents contained in Woolworths Limited Annual Report because Woolworths is the big company and also owns other companies subsidiaries which lead to many transactions occurred in the company. Therefore, I will explain some contents to give some idea. Managing Director’s Report: The directors’ report of a listed company is required to contain information that shareholders of the company would reasonably require to make an informed assessment of: †¢ the operations of the company reported on †¢ the financial position of that company †¢ the business strategies of that company and its prospects for future financial years (unless their inclusion would be unreasonably prejudicial) The report by the directors will identify the names of the directors and officers of the company, and is required to contain information about options including share options, executive options, indemnity and insurance. The directors’ report includes a remuneration report that must include a discussion of the board’s policy on remuneration and its relationship to company performance. The remuneration report includes information about the cost to the company of providing its directors and key management personnel with short-term employee benefits, post-employment benefits, other long-term employee benefits, termination benefits and share-based payment arrangements. For the managing director’s report of Woolworths reveal that Woolworths pleased to report that we are making significant progress against their goals. Also, for this financial year Woolworths pleased to report a solid increase in net profit after tax from continuing operations of 3.6% and by the end of FY12 Woolworths was Australia’s leading online retailer. These statement shows that they were achieve their goals and success during financial year 2012. Directors’ declaration The Directors declare that: (a) in the Directors’ opinion, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable; (b) in the Directors opinion, the attached financial statements are in compliance with International Financial Reporting Standards, as stated in Note 1 to the Financial Statements; (c) in the Directors’ opinion, the attached Financial Statements and notes thereto are in accordance with the Corporations Act 2001, including compliance with accounting standards and giving a true and fair view of the financial position and performance of the consolidated entity; and (d) the Directors have been given the declarations required by s.295A of the Corporations Act 2001. Examine the financial summaries for information about the fiscal condition of the company. Did the company show a profit? Yes, Woolworths show a profit  and for financial results net profit after tax from continuing operations increased 3.6 per cent to $2.18 billion on total Group sales from continuing operations of $55.1 billion, up 4.8 per cent. These results were affected by provisioning for the disposal of the Consumer Electronic business, which has been impacted in recent years by significant price deflation, around the world. On a one off basis, this reduced our after‑tax profits by 14.5% and earnings per share by 14.9%, compared to the previous year. What sorts of recommendations are made and what suggestions are made regarding business activities for the up-coming year? Business activities for the up-coming year: Leadership in food and liquor Act on Woolworths portfolio to maximize shareholder value Maintain track record of building new growth Woolworths expect further earnings growth in FY13, with net profit after tax from continuing operations expected to grow in the range of 3% ‑6% (on a normalised 52 week basis), subject to the uncertainties detailed above (note: FY13 will be a 53 week year). Section 2 Explain the following statement. â€Å"Ratio analysis can help in measuring business performance and setting objectives/goals†. Ratio Analysis is a form of Financial Statement Analysis that is used to obtain a quick indication of a firm’s financial performance in several key areas. The ratios are categorized as Short-term Solvency Ratios, Debt Management Ratios, Asset Management Ratios, Profitability Ratios, and Market Value Ratios. Also, ratio Analysis as a tool possesses several important features. The data, which are provided by financial statements, are readily available. The computation of ratios facilitates the comparison of firms which differ in size. Ratios can be used to compare a firm’s financial performance with industry averages. In addition, ratios can be used in a form of trend analysis to identify areas where performance has improved or deteriorated over time. However, ratios are not just a device used by accountants, but a useful tool that identifies strengths and weaknesses of a business and leads to questions about performance that  should result in action. Moreover, â€Å"ratios can be used to set performance goals. For instance, a business seeking to improve its cash flow position may do so by setting targets to reduce average debtors and inventory turnover† (Manage budgets and financial plans 2010). Understanding the relationship between these items and their impact on cash flow, gives greater control over the business and the ability to clearly communicate performance objectives.

Horror story with vampire Essay Example | Topics and Well Written Essays - 500 words

Horror story with vampire - Essay Example The raws looked like the jaws of a shark; only difference was that the teeth were a sheer white, and the bordering gum line had a crimson hue. â€Å"There’s no use panicking, Rob† Mike said, stepping back. â€Å"Let’s weigh our options. We can run to the car and let him chase us, or we can race to the cafeteria, grab the knives and garlic and fight him. Rob patted Mike’s hand. â€Å"We’ll fight him.† Then, he suddenly bolted towards the cafeteria. As Mike charged behind him, he heard the noise of flapping wings. He rushed into the cafe, banging the door shut behind him. Mike heard the monster’s voice even as he turned from the door, breathing heavily. It had taken the form of a bat, and swooped down from the window, towards Rob who stood in the front side. The monster regained the form of a man as it touched the ground. Jaws clenched, his lips parted to reveal the pairs of fangs in his mouth. Rob cowered, falling to a corner of the cafà ©Ã¢â‚¬â„¢s pantry, as the creature seized him by bending down. â€Å"A puncture by my fangs,† it said, â€Å"is all it will take for you to follow me like little pups.† His voice sounded as if it were coming from some deep void within earth’s womb. Fingers of his left hand, gripping Rob’s throat, tightened. The long nail of his thumb dug into his Adam’s apple, and Rob squirmed like a worm trying to extricate from the trap of a lizard’s mouth. The stench of rotten blood gushed into Mike’s face; he held his breath and struggled to break free. The more he tried the tighter the monster’s grip became. Mike had read that the vampires are affected and finally killed by sunlight. But it was a far cry; morning was several hours away and by that time the monster would have done away with both of them. What could they do? Then, suddenly, as if out of the blue, the idea struck him. Mike raised both his legs up to his waist high and threw his right leg across the kitchen sink,

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

Summry - Assignment Example The front view is shown as full section. This kind of section is advantageous when the object is symmetrical about a centre line. Here, full section view may not be necessary. In this case, a half sectional view is drawn as a front view which shows internal details of half the component. In cases where full information cannot be obtained if the section is taken along the centre line, offset section is used. To obtain full details the cutting plane is offset by 90 degrees to pass through all the holes and slots. The advantage of this section lies where there are elongated parts of the object are also present. This is used to show the transverse section of one part of object. The cutting plane is shown in section by cutting in a direction perpendicular to the longitudinal axis. An adjacent view is obtained by rotating the cut section by 90 degrees. The Disadvantage of this kind of section is that when too many parts are present then using this section view may get complicated. In such cases, removed section proves to be advantageous as the section are shown removed from the front view located adjacently. This kind of sectional view has its own advantage as it does not use a cutting plane at all. Instead, the section view is shown with the front view and a jagged line is used to show the break. Hence, one may chose to break the object any way which helps showing the full internal details. The disadvantage of this view is that it may some how become difficult to decide how to introduce the break. In case, the object has elongated parts, the application of this section may become very

Madeleine-Leininger Assignment Example | Topics and Well Written Essays - 1000 words

Madeleine-Leininger - Assignment Example She highlighted that the theory had its basis on comparative culture care. The document also describes the ethnonursing research method that Leininger developed when developing her theory. In addition, models and enablers used in the ethnonursing research method are also described in depth. From this document, it becomes evident that the numerous factors, which can be categorized as both diverse and universal cultural factors that influence nursing care. From the document, the strengths of the ethnonursing research method become evident to the reader. It is intriguing to analyze Leininger’s understanding of culture care in her effort to form the foundation of transcultural nursing. All the definitions and concepts used in her theory are well explained in this overview document. A close analysis of the document helped me understand the different constructs that define the culture care theory. I also realized that transcultural nursing was the field developed by Leininger after describing her theory successfully (Madeleine-Leininger.com, 2014). This field utilizes both cultural differences and similarities in an effort to provide assistance that matches the needs of people from different cultures. The context under which Leininger developed her theory is also given attention in the document (Leininger, 2008). Doctor Madeleine Leininger calls her theory Culture Care Diversity and Universality as highlighted in the info-facts section. It is identified as the only theory that focuses on transcultural nursing (Leininger, 2008). After reading the info-facts section, I had the impression that Dr. Leininger is an experienced professional in the nursing field. She had conducted wide research in an effort to develop her theory. She has been recognized for her efforts in launching the transcultural nursing field. Notably, she is the author of 28 books, more than 300 articles, and about 60 chapters. This makes it evident that she is a resourceful

Aircraft Electrical and Mechanical Systems Case Study

Aircraft Electrical and Mechanical Systems - Case Study Example This is why the name static to distinguish it from other concepts such as dynamic and absolute pressure. Atmospheric pressure reduces height and vice versa. The main explanation for this phenomenon is that Air has weight, and it is this weight exerted on a unit area of a surface that is known as pressure. The atmospheric pressure can be defined as the total force or weight by an air column at a point or area. Moving up means the air column is reducing resulting in less weight due to less air. Therefore, the pressure becomes less, which explains why atmospheric pressure reduces with height. Air presses on us more when at sea level that when on a mountaintop. This because at sea level the air pressure is approximately 14.7 lbs. /in2 and this value reduce as one goes up. Pressure varies significantly as one moves from the earth’s surface upwards to the top of the atmosphere. At higher altitudes, there is less air resulting in less weight and consequently less pressure. Therefore, mathematically the density and pressure of air reduce with elevation. Airspeed refers to the speed of an aircraft comparative to the air. Airspeed is measured ordinarily on board an aircraft using an airspeed indicator that is connected to a pitot-static system. The relationship between pressure and airspeed is that the function of calibrated airspeed is part of the compressible impact pressure. It is also important to note that, at sea level pressure, the rate of equivalent airspeed is equal to calibrated airspeed. 1. Description of types of basic pitot/static probes found on most 1st and 2nd generation aircraft 1st and 2nd generation aircrafts relied on non-compensating pitot tubes. These tubes were also associated with errors in static pressure measurements. Modern aerodynamic pitot tubes have an ogival shape (Clancy, 1975, p. 97). The shape is because of the formation of a quadratic polynomial profile.

Challenges in The Developing Ethical Practice in Health Care Essay

Challenges in The Developing Ethical Practice in Health Care - Essay Example The ethical practice in health care industry faces different challenges each day. Given are some common scenarios that nurses encounter, and how it is being handled. II. The Foundation of the Code of Ethics The set of rules is widely known as the â€Å"code of ethics.† The word â€Å"ethics† is derived from Greek terminology ethos, which implies conduct and character, among many others, such as practices and habitual operation. It is a universal code practiced by many nurses all over the world with a common goal in line with the â€Å"Nightingale Pledge,† which was first used in 1893. The pledge is the physician’s counterpart of the â€Å"Hippocratic Oath.† An ethical practice in the nursing field includes basic ethical obligations, which nurses are presumed to follow. Nurses are responsible for how they interact in terms of offering comfort and respecting their patient’s requests, their patients’ family members and/or friends, communi ty, and colleagues, in a professional manner (Canadian Nurses Association, 2008, p. 2). A responsible nurse is a good nurse; being responsible is an indispensable trait since an ethical practice is merely a guiding principle to help nurses in decision-making, and therefore, it is the nurse’s decision to whether or not follow and practice the ethical code. The Canadian Nurses Association (2008) believed that in order for the ethical practice to be considered as such, these factors have to be weighed: the nurses’ word to do good; views on ethical topics; and his or her interrelationship communication skills, to deal either in an individual or a group of people who requires medical attention (p. 4). Moral integrity is one’s ability to keep their ethics intact under any circumstances. III. Moral Identity in Ethical Practice Nurses give qualified and ethical treatment filled with compassion. A lot of professions, especially the ones in the non-medical field, often do not have guiding principles to the extent of the ethical code being practiced in the nursing field. Whereas the same level of compassion is not really needed in other professions, as mentioned in the Canadian Nurses Association (2008), one of the nurses’ roles is to deliver compassionate service by talking in a sensible manner that communicates care and act in a way that shows empathy (p. 8). Empathy and compassion allow nurses to even feel the patient’s pain to some degree, which is a valuable trait, because it shows the human element in communicating caring is evident. A. Moral Identity Moral identity is an intellectual depiction of a person’s ethical character, which is innate by nature and projected externally (McFerran, Aquino, & Duffy, 2010). Its blueprint is characterized by the actions and the corresponding people involved in it, such as colleagues, the organization, or even the society in general. As an example, based on the code of ethics, a critical care nurse, according to the American Association of Critical-Care Nurses (2012) may intervene when the patient’s interest is in question, as in the case of patients in Intensive Care Unit (ICU). Similarly, they can speak on a patient’s behalf according to the patient’s beliefs and values. The importance of getting compassion from someone has

Leadership and Management Assignment Example | Topics and Well Written Essays - 1250 words

Leadership and Management - Assignment Example Conflict in business organizations is a common phenomenon that can arise from various reasons and in between different members of the organization, be it between the leaders and the employees, among the co-workers, or between the organizational members and the customers (Ingram 2013). Need for conflict management through effective leadership and management is thus highly essential for every business organization. The present study focuses on an understanding of conflict handling in business organizations through effective leadership and management, based on a scenario of conflict in a chosen business organization. Scenario: ABC Company Limited is a software company performing more than a decade and has successfully achieved its position in BPOs and software development companies. The financial and technical background of the company is very strong and the skilled manpower of the company is focused on to providing its customers with the best of software products and services. Thus com mitment and goodwill are two essential factors that the management team of the company takes significant concern of. A, B, C, D and E are the members of the organization and hold different positions. ... According to E, while B provided them with all instructions for the completion of the project they were working on, D was arrogant and acting as a boss when B was not around. E also complained that D treated E in a manner as if E was working under D and not as another team member. E was highly disappointed and wanted to get out of the particular project as he thought he was nothing less in capabilities than D, and that if B was the project head, E was only supposed to follow B. A found that the project should not get hindered for any such conflicts among the members, and asked B and C to immediately resolve all issues, such that the work on the project could continue. Since the completion of the project was very important, B and C decided to separate D and E, and put E on a different project, where the other member working was new in the company, and hence were expected not to create any issue. The interactions between the members are provided in Appendix A. Conflict Handling  œ Management Theories: Conflicts in business organizations, as the above mentioned scenario describes, occur when two or more individuals working together differ in their behavior and attitudes that are reflected in their opinions and actions, affecting the others. Conflicts in interpersonal relationships need to be handled strategically otherwise which the relations might be affected, affecting the organizational goals as a whole. It is extremely essential that organizational employees have respect for each other (Managing Conflict in Interpersonal Relationship at Workplace 2013). The Conflict Process: There are usually many stages that complete the conflict process. Sources lead to the conflict that is followed by different

Art and Architecture of Africa-Identification of terms Assignment

Art and Architecture of Africa-Identification of terms - Assignment Example It was common with ancient Egypt. It came to use under the kingdom of pharaoh Sneferu (Crouch, 34). In architecture, zoomorphic architecture refers to architecture that, designs tend to build buildings in resemblance of animals. In other contexts, it pertains to deity or being conceived in the form of an animal. In abstract terms, it represents or uses animal forms. Bet Medhane is a name that revolves around the ability of a person to possess tools to become an original person with a highly creative approach. Therefore, it is essential in art as much as originality is. Verdite is the name given to the two types of green stones found in South Africa, which are used in curving sculptures (PALMER, 5). Ankh is also known as the key of life and was associated with ancient Egypt as a representative of eternal life. Afo-A-Komis a wooden sculpture that was curved as sacred sculpture among the Kom people one of the tribes found in Cameroon (Kostof, 46). Wattle and Daub, on the other hand, refers to a building material used in making walls. It is important in architecture as it involve woven lattice of wooden strips in making beautiful walls. A white lady is a female ghost who has been known to be seen in rural areas across the world and associated with a local tragedy (Begg, 35). It forms part of modern art in acting and stage show movies. Apedemak refe rs to a lion headed warrior god who was known as one of the gods of the Nubia among the Meroitic