Essay on Reproductive and Therapeutic Cloning - 1472 Words

There are two types of cloning, one of them is reproductive cloning which is when a whole organism is cloned and therapeutic cloning is the cloning of cells, organs or tissues. Cloning is when two cells decide or are forced to duplicate into two cells to replicate each other. Cloning can be done deliberately or naturally; and it results in two copies having identical cells, DNA, genes, organs and organisms. Cloning is a common, ongoing, debatable topic among society today. Many people argue about how future scientific advances in cloning will affect society. Most often people dislike the idea of cloning because it goes against their ethical beliefs, or because they are in fear of it ending up in the wrong hands. But sometimes when the†¦show more content†¦Those who do not have enough confidence in the matter might argue that someone could create super soldiers for war, but with everything comes limitations and law. No matter how many laws are put into place, there will alway s be people there to either abide by them or to break them. As long as the limitations keep such horrible things from happening and there are officers and the government to aid, then there is no issue. â€Å"Also, because there are many benefits to cloning and since not everyone believes in a god why should religion be used in making decisions for people where religious morality is not even an issue? The beliefs of some people should not deprive others of the benefits of cloning. There are those with religious beliefs who think that taking antibiotics or receiving blood transfusions is wrong, but this does not stop the rest of the world from receiving the benefits from them. Science is based on experimentation and observation, while religion is based on faith and things that can not be proven. Making a law based on a religious belief goes against our Constitution. A human clone is and should be thought of as a regular human, they are entitled to have the same basic rights as everyone else. Whether the government bans cloning or not, it is inevitably going to take place. The discovery has been made and curious scientists are not just going to leave it alone. Decisions onShow MoreRe latedEssay on Reproductive and Therapeutic Cloning2440 Words   |  10 PagesReproductive and Therapeutic Cloning New areas of science often raise questions about safety. Reflecting back on the past medical technologies invented, people have always opposed it but often benefit from it later on in life. The use of in-vitro fertilization, for instance, was once a controversial issue. Some people worried that society could discriminate against humans produced as a result of IVF and humans could spread diseases. Furthermore, its usefulness cannot be predicted becauseRead More Reproductive and Therapeutic Cloning Essay example1484 Words   |  6 PagesReproductive and Therapeutic Cloning Cloning is defined as the â€Å"creation of an exact copy of a living matter, such as a cell or organism† according to Encarta encyclopedia. The copies produced through cloning have identical genetic makeup and are known as clones. Scientists use cloning techniques in the laboratory to create copies of cells or organisms with valuable traits. Cloning is a controversial topic because new areas of science often raise questions about safety. Early experimentRead MoreReproductive and Therapeutic Cloning: Dolly The Sheep1468 Words   |  6 Pagesbeen an increase in the methods in which DNA, Reproductive and Therapeutic cloning and the processes that happen in order for cloning to occur. DNA Cloning occurs when the DNA cell is replicated, an organisms DNA is taken and placed in a Vector also known as plasmid. This self-replicating cell will then create copies of the DNA code. After being placed into a foreign host cell that is suitable for the DNA the cell will then reproduced. Reproductive cloning in some aspects of the developing stages isRead MoreIs Cloning Ethical Or Moral?1617 Words   |  7 PagesCloning is one of the most controversial topics in all of science in the current day. Technology has come miles from where it has been, and we still have yet to perfect how it is used. When I chose this topic as one of the two I had to pick from the list, I didn’t really know how cloning worked or how I actually felt about the on-going conversation of whether or not cloning is ethical or moral, much less legal. What I have come to conclude after the various articles I have read, and the differentRead MoreThe Human Of Human Cloning1100 Words   |  5 PagesHuman Cloning 1. INTRODUCTION Human  cloning  is the creation of a genetically identical copy of a human. However, this term not only refers to the entire artificial human, but also the reproduction of human cells and tissues. There are two types of theoretical human cloning: reproductive cloning which would involve making an entire cloned human and the other, therapeutic cloning, which would involve cloning cells from a human for use in medicine and transplants by somatic-cell nuclear transfer orRead MoreShould Human Cloning Be Pursued? Essay810 Words   |  4 Pagessome movies, cloning in real life doesn’t produce a full grown exact replica of someone. A type of cloning that occurs naturally is when identical twins are born (â€Å"What Is Cloning?†). Somatic cell nuclear transfer (SCNT) is a type of cloning that has to be done in a lab. In SCNT they take the nucleolus out of an egg cell, replace it with the nucleolus of a somatic cell (body cell with two complete sets of chromosomes), and mak e the egg cell divide into a blastocyst (â€Å"What Is Cloning?†). There areRead MoreThe Human Of Human Cloning1098 Words   |  5 Pages1. INTRODUCTION Human  cloning  is the creation of a genetically identical copy of a human. However, this term not only refers to the entire artificial human, but also the reproduction of human cells and tissues. There are two types of theoretical human cloning: reproductive cloning which would involve making an entire cloned human and the other, therapeutic cloning, which would involve cloning cells from a human for use in medicine and transplants by somatic-cell nuclear transfer or pluripotent stemRead MoreShould Cloning Be Allowed?1440 Words   |  6 Pageshuman cloning is becoming a feasible practice. Recently there has been a successful cloning of a sheep, so scientists start to speculate the different uses of cloning human embryos. The three forms of cloning that stand out are reproductive cloning, therapeutic cloning, and cloning for scientific research. Cloning should be permitted, but only reproductive cloning should be permitted with a limit on the number of babies a person or family can reproduce. The arguments that support cloning dependRead MoreWhy Is Cloning? Living A Wonderful Life?1668 Words   |  7 PagesWhy Cloning? Imagine living a wonderful life. A life full of friends and loving relationships. A healthy life. Celebrating holidays with friends and families and finally starting to fall in love with the person might†. Then all of a sudden your wonderful life comes to a screeching halt when you go to the doctor and is diagnosed with HIV, a fatal disease with no cure. You’re now faced with countless decisions such as whether or not you want to be heavily medicated. More medications could lead toRead MoreLiving A Wonderful Life : A Life Full Of Friends And Loving Relationships1666 Words   |  7 Pagesup. Cloning could provide an efficient way to find resistance and cures to diseases while providing an option to infertile couples. Human cloning is the process of using nuclear transfer, (a process of dna transfer) to a human cell in order to grow human cells. Human cloning is necessary and inevitable and research in the fields of reproductive and therapeutic cloning should continue to develop. Human cloning should be legal because reproductive cloning is inevitable and therapeutic cloning provides

How Did Africans Respond And Resist European Penetration...

How did Africans respond and resist European penetration and occupation of Africa? The African’s responded and resisted the European penetration and occupation Africa in four major ways. The everyday African’s made the first major act of resistance. Their main plan of action was to make it difficult for the Europeans to find or capture them. They did this in a number of ways, the first was resettling in places that were hard to find. They settled in remote areas, caves, swamps, and mountains and built ramps, fortresses, and planted poisonous plants all in an effort to protect them from being captured. Others transformed their habitat and manner of the land they occupied. One town was built on stilts in water too shallow for the ships which allowing the natives to see approaching raiders and act appropriately. Another town built houses that were shaped like termite nests tricking the raiders. The resistance of the African Elite helped give their natives the courage to st and up to the European raiders. Many Kings such as; Nzinga Mbemba, Obas Benin, Tezifon, Agia, and Almamy resisted the Europeans by banning the sale of slaves and refusing to give up their people. One example of this resistance occurred when the French had a ship waiting to go back to Europe that they were unable to fill, the French then sent people off to fetch slaves, these people went to Almamy of Futa, who had forbidden slavery, Almamy stood up to the French and refused to allow them to take his people.Show MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesdetermining beginnings and endings that accord with major shifts in political and socioeconomic circumstances and dynamics rather than standard but arbitrary chronological break points. 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Contract It Comes To Statute Of Limitations â€Myassignmenthelp.Com

Question: Discuss About The Contract It Comes To Statute Of Limitations? Answer: Introducation: Contract is a legally binding document which contains a promise where one side of the contracting party undertakes a promise to fulfil to do certain task and the other side of the contracting party undertakes the promise to create legal relations (Latimer, 2012). The contract formation requires presence of certain components, which are the agreement component, i.e., offer and acceptance, followed by elements of consideration, consent, clarity, intention and capacity. In order to create a legally binding contract, there is a need for all of these components to be present, or else, the contract remains non-binding document (Clarke Clarke, 2016). The contract begins when an offer is made by one person to another person, in which the first person offers some conditions or terms to the second party. It is important that clarity is attained between an offer and an invitation to treat (Andrews, 2015). This is because an offer is a part of contract formation and is obligatory to be present for a contract to be valid, but the same is not the case when it comes to an invitation to treat. The offer shows that the parties want to create a contract and thus, have legal liabilities. However, an invitation to treat shows that the person wants to start up the negotiations (Ayres Klass, 2012). The differentiation between these two can be highlighted through different case laws. In Carlill v Carbolic Smoke Ball Company [1893] 1 QB 256, the court stated that a unilateral offer had been made as the acceptance could be attained merely by acting upon the offer and the acceptance did not require a communication. However, this is generally not the case and the commercials in the magazines or newspapers are deemed as an invitation to treat as was seen in Partridge v Crittenden [1968] 2 All ER 421. Where an invitation to treat has been made, the party who puts on something for sale, is not bound in a legal manner to fulfil the sale, and this was deemed by the court of law in Partridge v Crittenden [1968] 2 All ER 421 case (Latimer, 2012). The contract formation has another crucial agreement component of acceptance. The acceptance denotes that the party, to which the offer was made, accepts the terms of the offer. The acceptance needs to reach the offering party in a clear manner and a silence on the offer made is not an acceptance as was seen in Felthouse v Bindley (1862) EWHC CP J35 (Stone Devenney, 2017). It is important that the acceptance is properly told to the offer making party and is given on the offer which was made. In other words, if there is a change in the offer made, while the acceptance is being given, it is not considered as an acceptance and instead would be considered by the court as a counter offer. When such happens, the original offer expires as was held in Hyde v. Wrench (1840) 3 Beav 334 (Marson Ferris, 2015). The third requirement for creating a binding contract is the consideration. It is important that the contract has an element of consideration and it needs to have an economic value in it for it to be valid (Latimer, 2012). The context of the particular case decides the economic value component. For instance, the three wrappers were deemed as valid consideration in Chappell Co Ltd v Nestle Co Ltd [1960] AC 87. Another important point about consideration is that it needs to be adequate and not sufficient, and has to move towards the promisor (Mulcahy, 2008). Clarity regarding the terms of the contract is another crucial element in contract formation as it helps in avoiding ambiguity from the contract. There is also a need for the contracting parties to give a free consent to the contract, without the presence of elements like duress, undue influence and the like (Lambiris Griffin, 2016). The next component is that of capacity which denotes the need of the contracting parties to have the proper contracting capacity to enter into legal relations. This is in terms of the party being of sound mind and the parties having a legal age. The parties need to have the legal intention of creating lawful relations and need to know that by entering into the contract, they would be legally bound by it (Latimer, 2012). Contracts can be formed in both written and verbal manner and irrespective of the manner of formation of the contract, both have legal validity. In the written contracts, the terms on which the contract is being formed, is properly elaborated on a document, and the parties sign the contract. In a verbal contract, these very terms are verbally or orally exchanged, i.e., they are communicated in a manner of speaking. Thus, essentially, only the manner of documenting it differs, but both have legal validity in the eyes of law (Mau, 2010). Even though the written and verbal contracts have legal validity, it is always advised to go forward with a written contract and there are different reasons for the same. Amongst the different reasons for opting for a written contract is that it helps in removing the ambiguity regarding the contractual terms, which can otherwise be present in an oral or a verbal contract. One can always refer to the written contract for a particular term being stated and being stated in a particular manner, but the same cannot be done under an oral contract and thus, the nuances of the oral contract often lead to a dispute (Pendragon, 2014). Furthermore, the statutory legislations relating to the interpretation can be applied over the written contracts but the same is not possible for the oral contract as one cannot say for certain what the exact term of the oral contract was (Irby, 2016). Under the written contracts, the rights and obligations of the contracting parties are clearly provided, but the same is again not possible to be determined in a clear manner, particularly in case of a dispute, for an oral contract. Often, the written contracts cover terms that in case of dispute, a particular thing has to be undertaken. This further helps in solving a dispute in a quick manner under a written contract (Pendragon, 2014). Thus, under the oral contract, the chances of resolving the dispute in an amicable manner are not very high as each party keeps on contending that a particular point was not made, a particular point was made different, or the entire verbal contract was never drawn. An example of the verbal contract being denied to be present was the case of McGellin v Mount King Mining NL (1998) 144 FLR 288 (Austlii, 2017). For all such reasons, it becomes preferable to draw up a written contract. Formal contract can be best defined as such contract where the development of these required a specified manner of formation, for them to be enforceable. In general, the formal contract requires the contract to be signed by the contracting parties and be placed under a seal (Miller Cross 2015). There are different kinds of formal contracts, for instance, promissory notes, drafts, certificate of deposits and cheques. Depending upon the particular formal contract, the formalities of it are defined. The formation of a cheque, for instance, requires the stamp of the bank, the signature of the drawing party, the details of the bank and that of the amount for which the cheque is being drawn, and the date of signing the cheque, which makes the cheque valid only for a specified period of time since it was being drawn (Legal Services Commission, 2017). Was a valid contract created in this case, specifically due to the presence or absence of the component of intention? Where a contract was formed, were any remedies available for the non-breaching party? In the first section of this discussion, the different requirements for creating a contract were defined. Amongst these was the intention of the parties, which denotes that the parties are ready to create a binding agreement, which can make them liable legally. It is important that when a contract is being drawn, the parties want to create legal relations. The case of Trevey v Grubb (1982) 44 ALR 20 helps in clarifying the difference between a social and a legal contract. In this case, an entry coupon was filed by the individual on three members of syndicates behalf. The prize stated in the coupon was won but the defendant declined from sharing the prize money and cited that a social contract was present. In order to given the verdict in this case, the court made reliance on the verdict given under Simpkins v Pays [1955] 1 WLR 975 and presented the similarities between the two cases. There also similar thing took place and social context was cited as an excuse. And so, the court stat ed that a clear intention was present in this case, instead of presence of social setting, which led to a legally contract being created in this case. Accordingly, the court ordered the defendant to share the prize money in an equal manner between the three plaintiffs who had together bought the ticket (Gibson Fraser, 2013). A breach of contract takes place when the promise made as per the contract is not fulfilled by the contracting parties. When such happens, the aggrieved party can apply for both equitable and monetary remedies. Application The facts given in the case study of the question, are similar to that of the case of Simpkins v Pays and Trevey v Grubb. In this case also, a social arrangement was being cited as the reason to evade the contract being as a lawfully valid one. However, the similarity between the quoted cases and this case proves that an intention of creating a lawfully binding contract was clearly present in the case study as each of the parties in the case study had made a contribution towards the purchase of the lottery ticket. And so, this would show that the parties indeed wanted to create a contract. The group which purchased the ticket cannot deny sharing of the prize money or else, they would be made liable for a breach of contract. And as per the verdict given in the two quoted cases, the court would order the ticket purchasing group to share the prize money equally with the other groups. To sum it up, it is very clear that a contract had been formed in this case as a result of presence of the intention of creating legal relations between the parties. And based on the quoted cases, the ticket purchasing group would have to share the prize money equally or would be made liable for a breach of contract. Agency law is a common law which regulates over the liability raised from the work of the agent towards the principal, and this liability is raised for the third party, with whom, the agent interacted. The raison d'tre for making the principal liable, stems from the representation of the agent of the principal in front of the third party. Born from this common law is the concept of vicarious liability. As per this concept, the employer is to be made accountable towards a third party for the work done by their employee, as the employee represents the employer in front of such third party. The presence of this concept makes it important to distinguish between an agent and an independent contractor (Thampapillai et al, 2015). An agent is such an individual who works on behalf of the principal and for whose actions, the principal is liable. However, an independent contractor is someone, whose services are undertaken, usually under a contract, for fulfilling a particular task. And for this very task undertaken by them, the liability is their own. The independent contractor use their own equipments to do the task, at the timings which suit them, and in the manner they deem fit. However, when it comes to the agents, the principal provides the equipments, the work hours are regulated by the principal and they have to do the work on the basis of authority provided to them. Due to such control, the principal is made liable and this makes it necessary to differentiate between the agent and an independent contractor (Miller Jentz, 2007). References Andrews, N. (2015). Contract Law (2nd ed.). UK: Cambridge University Press Austlii. (2017). Thomas Paul Mcgellin Ors v Mount King Mining Nl (Acn 060 118 201) Anor [1998] WASC 96 (7 April 1998). Retrieved from: https://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/wa/WASC/1998/96.html?context=1;query=McGellin%20v%20Mount%20King%20Mining%20NL Ayres, I., Klass, G. (2012). Studies in Contract Law (8th ed.). New York: Foundation Press Clarke, P., Clarke, J (2016). Contract Law: Commentaries, Cases and Perspectives (3rd ed.). South Melbourne: Oxford University Press. Gibson, A., Fraser, D. (2014). Business Law 2014 (8th ed.). Melbourne: Pearson Education Australia. Irby, L. (2016). What is a Written Contract When It Comes to Statute of Limitations?. Retrieved from: https://www.thebalance.com/written-contract-961146 Lambiris, M., Griffin, L. (2016). First Principles of Business Law 2016. Sydney: CCH. Latimer, P. (2012). Australian Business Law 2012 (31st ed.). Sydney, NSW: CCH Australia Limited. Legal Services Commission. (2017). Paying and collecting a cheque. Retrieved from: https://www.lawhandbook.sa.gov.au/ch10s05s02s01.php Legal Services Commission. (2017). Paying and collecting a cheque. Retrieved from: https://www.lawhandbook.sa.gov.au/ch10s05s02s01.php Marson, J., Ferris, K. (2015). Business Law (4th ed.). Oxford: Oxford University Press. Mau, S.D. (2010). Contract Law in Hong Kong: An Introductory Guide. Hong Kong: Hong Kong University Press. Miller, R., Jentz, G. (2007). Cengage Advantage books: business law today: the essentials (8th ed.). Mason, OH: Thompson Higher Education. Miller, R.L. Cross, F.B. (2015). The Legal Environment Today (8th ed.). Stanford, CT: Cengage Learning. Mulcahy, L. (2008). Contract Law in Perspective (5th ed.). Oxon: Routledge. Pendragon. (2014). The Benefits Of A Written Contract. Retrieved from: https://pendragon.net.au/benefits-written-contract-2/ Stone, R., Devenney, J. (2017). The Modern Law of Contract (12th ed.). Oxon: Routledge. Thampapillai, D., Tan, V., Bozzi, C., Matthew, A. (2015). Australian Commercial Law. Melbourne: Cambridge University Press.

Theology of the Book of Romans free essay sample

In the first seven chapters of the book of Romans the apostle Paul writes a logical and clear presentation of the Gospel as he systematically explains the sinfulness of mankind and God’s answer, justification by faith. Romans chapter 8 is a powerful summary and conclusion to the arguments Paul presents. This essay will highlight Paul’s dominant points sequentially from chapter one, making reference to the correlating verses Paul presents in summary in chapter eight. In Romans chapter one verses 16-17 Paul declares, â€Å"For I am not ashamed of the gospel of Christ, for it is the power of God to salvation for everyone who believes, for the Jew first and also for the Greek. For in it the righteousness of God is revealed from faith to faith; as it is written, â€Å"The just shall live by faith. † These two verses are often referred to as the heart of the letter. We will write a custom essay sample on Theology of the Book of Romans or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page They state the theological theme which Paul outworks in the first seven chapters. Martin Luther wrote in his Commentary on Romans: The Gospel is called the power of God in contradistinction to the power of man. The latter is the (supposed) ability by which he, according to his carnal opinion, obtains salvation by his own strength, and performs the things which are of the flesh. But this ability God, by the cross of Christ, has utterly declared null and void, and now gives us His own power by which the spiritual – (the believer) – is empowered unto salvation. In Romans 1:18-3:20. Paul quickly begins to paint a picture of mankind’s position before God. It’s as if Paul leads the reader into Gods courtroom where all of mankind will be tried. Until man knows he is a sinner he cannot appreciate the gracious salvation God offers in Jesus Christ. Drawing on three separate arguments Paul declares that all men are sinners, guilty before God and in need of redemption. The first of Paul’s three arguments in this first section is found in Romans 1:18-32. Here Paul argues that the whole Gentile world is guilty. Paul’s next argument is that the Jewish world is also guilty (Romans 2:1-3:8). The Jews thought that because they were Gods chosen people they were exempt from judgment. They were given the Law, they had the physical sign of God’s covenant – circumcision, and they were led by God to the Promised Land where they saw victory after victory. God proved time and again that He was the one true God and He had promised never to abandon them. Surely they would escape His wrath. However, the Jews’ actions were contrary to the law. They were guilty along with everyone else. Paul finishes his argument in Romans 2 by drawing a distinction between outward and inward circumcision. The Jews had come to depend on this outward sign of circumcision instead of the spiritual significance it represented. They had come to believe that only those who had been circumcised in the flesh were saved. Their faith was in this physical religious rite which they thought guaranteed a person’s entrance into God’s kingdom. First Paul argued that the Gentile world is guilty. Second he declared that Jewish world is also guilty. Romans 3:9-20 presents Paul’s third argument that in fact the whole world is guilty before God! Paul finishes this first section of the letter in Romans 3:20 declaring that â€Å"Therefore by the deeds of the law no flesh will be justified in His sight, for by the Law is the knowledge of sin. Some commentators have called this verse the ‘therefore of condemnation’, a horrible position for all of mankind that we will see answered completely in Romans chapter eight verse one, the ‘therefore of no condemnation’. The Jews stand condemned by the law and the Gentiles by creation and conscience, the whole world is guilty, both Jews and Gentiles need a liberator. In Romans 3:21-22 God begins to reveal His answer to this guilt and condemnation. The two words, ‘But now’, opening chapter 3, verse 21 begin to introduce the solution to the terrible spiritual predicament facing mankind. The law cannot make man right with God; all it can do is reveal his sins. What can be done? Paul shows us the answer in verse 22 ‘the righteousness of God’. God gives mankind right standing before Himself through what we know as ‘the righteousness of God through faith’. This thought is summed up in Romans 8:3 â€Å"For what the law could not do in that it was weak through the flesh, God did by sending His own Son in the likeness of sinful flesh, on account of sin: He condemned sin in the flesh†. Leon Morris, in his commentary on Romans, says that passage from Romans 3:23-25 may be possibly the most important single paragraph ever written. For all have sinned and fall short of the glory of God, being justified freely by His grace through the redemption that is in Christ Jesus, whom God set forth as a propitiation by His blood, through faith, to demonstrate His righteousness, because in His forbearance God had passed over the sins that were previously committed† (Rom 3:23-25). Martyn Lloyd-Jones describes verse 24 so well in his Romans Exposition of Chapters 3:20-4:25, Atonement and Justification: This is undoubtedly one of the great verses of the Bible. It is a statement that can be compared with John 3:16. It is a perfect synopsis of the Christian faith, and it is important, therefore, that we should understand it clearly. ‘Being justified freely by his grace’, there is a sense in which the reader must grasp the meaning of this verse or there is no purpose in proceeding any further. A revelation of this verse is paramount if we are to enjoy the liberty that is offered to us in the Gospel. Many people have struggled with this verse because of the consciousness of their own sin, however, ‘justification’ makes no actual physical change in a person as it is a legal declaration by God. It is not something that results from what a person does, but rather something that is done for them. God declares the repentant sinner as righteous. Parallel this thought with Romans 8:4, â€Å"that the righteous requirement of the law might be fulfilled in us who do not walk according to the flesh but according to the Spirit†. The righteous requirement of the law is fulfilled if we walk in what God has provided for us and not in our works. Verse 25 continues â€Å"whom God set forth as a propitiation by His blood, through faith, to demonstrate His righteousness, because in His forbearance God had passed over the sins that were previously committed†. Here the Apostle Paul now begins to explain the Gospel he has already described. Sinful, lost mankind is redeemed by the substitutionary death of Jesus Christ and this is the only way it could happen. This is one of the most important verses in the whole of scripture. God was ‘setting forth,’ making a public declaration of redemption and the way of salvation. All men are now justified free from human works, justified by His grace alone. James Denney in his classic book, The Death of Christ: Its Place and Interpretation in the New Testament, says: There can be no gospel unless there is such a thing as a righteousness of God for the ungodly. But just as little can there be any gospel unless the integrity of God’s character be maintained. The problem of the sinful world, the problem of all religion, the problem of God in dealing with a sinful race, is how to unite these two things. The Christian answer to the problem is given by Paul in the words: â€Å"Jesus Christ, whom God se t forth a propitiation†¦. † Righteousness is a gift received through faith and therefore there is no room for human boasting. This applies to both Jews and Gentiles. A helpful way of understanding God’s gift of righteousness is to contrast it with the law. â€Å"For the Law was given by Moses, but grace and truth came by Jesus Christ. † (John 1:17 ). Romans chapter four now expands on this contrast. Justification is by faith alone. In Romans chapter 4 Paul shows this by using the example of Abraham. Abraham was justified by faith not works, grace not law. Abraham was not circumcised when he was declared righteous, demonstrating that he can be the ‘father’ of all believers, both Jew and Christian. Circumcision was a symbol’ of, not the action that demonstrated faith. The ‘promise’ of justification by faith was not given to Abraham through the law, because the law was not yet established. In Romans 3:20 Paul presented the ‘therefore of condemnation’. Now in chapter 5:1 he argues the ‘therefore of justification’. â€Å"Therefore, having been justified by faith, we have peace with God through our Lord Jesus Christ† (Rom 5:1). Romans 8:2 declares â€Å"For the law of the Spirit of life in Christ Jesus has made me free from the law of sin and death†. This is the only reason why we have peace with God. Now that mankind is redeemed, has peace with God and the past is taken care of, God will no longer hold their sins against them. Every Christian now has access to God so that He can take care of their present needs. In Romans 5:2-5 Paul now explains that justification is not an escape from the tribulation or the problems of this world, however if Christ died for the sinner how much more shall God save the righteous from the wrath to come. This whole thought is the subject of the second part of Romans 8, verses 31-39. Paul speaking from experience takes a very realistic view of the challenges; difficulties and persecutions believers will have to face in this life. In the second half of Romans 5 Paul now makes a contrast between Adam and Christ stating that the consequence of Christs obedience is far greater than Adams disobedience. Adam had dominion over all of creation but when he sinned he lost his kingdom. Because of this sin, all mankind is under death and condemnation. Jesus Christ is now the King over a new creation (2 Cor. 5:17). Jesus’ obedience on the Cross has brought righteousness and justification. He has not only undone all the effects of Adam’s sin, He has accomplished ‘much more’ by making all who receive Him, to become the very sons of God. In verses 17-21 the two ‘one acts’ of Adam and Christ are contrasted. Adams ‘one act’ of offence, resulted in condemnation, making all men sinners while Christs ‘one act’ of obedience resulted in justification of life, and the righteousness of many. Having been made righteous, how shall the Christian now live? The struggle for all Christians is that ‘the flesh’ still tries to control them, despite them having been justified by Christ. Having clearly proved the sinfulness of both Jews and Gentiles and that both must be redeemed by Christ through faith and grace, in chapter six Paul now takes up the argument of the divine method of dealing with sin, and the secret of a victorious and holy life. The reader discovers from Romans chapters 6-8 that although mankind has been delivered from the penalty of the power of sin, they have not yet been delivered from the presence of sin. In chapter six, Paul gives instruction for attaining victory over sin, summed up in the three key words: know, reckon and present. . Romans 6:1-10 Know. The disciple must know the Word of God and the facts pertaining to this redemption and his relationship with Christ. Romans 8:5-6 â€Å"For those who live according to the flesh set their minds on the things of the flesh, but those who live according to the Spirit, the things of the Spirit. For to be carnally minded is death, but to be spiritually minded is life and peace†. The disciple must renew their mind to the facts of the Word of God (Rom 12:2). 2. Romans 6:11 – Reckon. â€Å"Reckon yourself to be dead indeed to sin†. The disciple must reckon these facts to be absolutely true personally, daily and continuously. Romans 8:10 declares â€Å" †¦ if Christ is in you, the body is dead because of sin, but the Spirit is life because of righteousness†. As renowned New Testament scholar C. E. B. Cranfield says: No matter what we used to be like, God considers that old person dead and gone. However, because God sees our old way of life as ‘dead and gone’, so should we. The purpose of this ‘death’ is that ‘the sinful body (literally ‘body of sin’) might be destroyed, and we might no longer be enslaved to sin’. By the ‘sinful body Paul means ‘the whole man as controlled by sin’ 3. Romans 6:12-16 – Present. The disciple must present himself to God with a willing heart. Rom 6:15 asks the question ‘Shall we sin because we are not under law but under grace? ’ This question is followed by the absolute denial ‘Certainly not! Do you not know†¦,’ which is a reference back to what ought to be ‘known’ in verses 1-10. Whatever someone ‘presents their members to’ or ‘yields themselves to’ makes them ‘slaves of that power’. Rom 8:12-13 â€Å"Therefore, brethren, we are debtors—not to the flesh, to live according to the flesh. For if you live according to the flesh you will die; but if by the Spirit you put to death the deeds of the body, you will live. This all sound well and good in theory however what if the Christian still struggles with sin what legal right does ‘the law’ have to do with them? Paul’s conclusion in Romans seven, verses 1- 6 is that the law no longer exercises dominion over Christians because they have died, in the sense of dying with Christ, and this death involved a death ‘to the law’. The Christian’s old life is described as a life ‘in the flesh’ (v. ), which refers to an existence controlled and dominated by the fallen human nature. In this condition Paul confesses that â€Å"sin taking opportunity by the commandment, produced in me all manner of evil desire. For apart from the law sin was dead† (Rom 7:8). This revealing statement is expounded in verses 7-13. Even though the law’s primary purpose was to bring the â⠂¬Ëœknowledge of sin’ (Rom 3:20; 7:7), sin was aroused when confronted by the law (Rom7:8-11). Rom 8:8-12 says: â€Å"So then, those who are in the flesh cannot please God. But you are not in the flesh but in the Spirit, if indeed the Spirit of God dwells in you. Now if anyone does not have the Spirit of Christ, he is not His. And if Christ is in you, the body is dead because of sin, but the Spirit is life because of righteousness. But if the Spirit of Him who raised Jesus from the dead dwells in you, He who raised Christ from the dead will also give life to your mortal bodies through His Spirit who dwells in you. Therefore, brethren, we are debtors—not to the flesh, to live according to the flesh. When Paul wrote that he failed to do the good that he wanted to do (Rom. 7:15–20), clearly he meant that he was missing his intended target of faithfully following God. Cranfield says â€Å"The more seriously a Christian strives to live from grace and submit to the discipline of the gospel, the more sensitive he becomes to the fact that even his very best acts and activities are disfigured by the egotism which is still powerful within him – and no less evil because it is often more subtly disguised than formerly†. As stated in the introduction Romans chapter eight summarises and brings to conclusion the previous seven chapters. It powerfully describes Paul as a Christian, transitioning from trying to live under the ‘law’ to living in freedom and victory under ‘grace’. In the preceding seven chapters he expounded that the law, the flesh and the new Christian nature on their own are totally inadequate to produce holy Christian living. The Christian who relies on his own strength and will power is fighting a losing battle. Only when he avails himself of the grace that is his ‘in Christ Jesus’, will he be ‘more than a conqueror’. Stanley Toussaint, writing in the Bibliotheca Sacra Journal says â€Å"Bible teachers accurately make a large point to the fact there is no reference to the Holy Spirit in Romans chapter seven. What is needed is the power of the Holy Spirit outworking in a Christians life. God’s amazing provision for this is the teaching of Romans chapter eight. As if presenting his case in a court of law, we have seen Paul continually summarising his evidence with the conjunction ‘therefore’. In Rom 3:20 he presents the ‘therefore of condemnation’ and in chapter 5:1 the ‘there fore of justification’. Now in Rom 8:1 Paul declares the culmination of these, the ‘therefore of no condemnation’. Continuing on Paul makes three supporting statements about the believer and the law, and together they add up to ‘no condemnation’.

Becoming a Video Game Designer essays

Becoming a Video Game Designer essays It has been 10 years since I became an addicted gamer when I was 11 years old. I always dreamed of designing a game of my own. I have came up with many nice ideas about video games from what I have played and I believed one day my dream will come true. However, the reality was disappointing. My parents were worried about the fact that I spent hours sitting in front of the screen and playing video games. As a result, I had to give up what I wanted to do and chose mathematics as my major. But after watching the video in class I started rethinking about it. Just assuming, what if I chose to be a video game designer? What is needed for it? How can you be a part of it? Also, what is the future of this job? After doing researches, I found that in fact, the video game industry is a multi-billion dollar industry. One person could sit down and make a game from start to finish by himself. Now a game can take millions of dollars and dozens of people to make. However, before deciding on a career in this multi-billion dollar industry, someone must see if he or she has the right type of personality and understands the different types of careers and where the video game industry is headed. Many people don't seem to understand what being a game designer really means. If you randomly ask most gamers, they'll probably tell you the designer is the person in charge of a game's vision. While truth is being a game designer is a lot of work. Usually, a game designer oversees the entire process from art and programming down to things as small as enemy and scene and level design. If someone was thinking about becoming a game designer then he or she should grasp concepts in art, programming as well as production. Being a game designer requires the personality blend of a punk star and a rocket scientist. You have to be able to imagine a virtual world while at the same time have the technical knowledge to make it happen. "Game designers have a good ble...

Differences and similarities between financial and management accounting The WritePass Journal

Differences and similarities between financial and management accounting Introduction Differences and similarities between financial and management accounting IntroductionFinancial AccountingManagement AccountingManagement accounting has the following concepts:BibliographyRelated Introduction In this essay I will be talking about the differences and similarities between financial and management accounting and how they are used to communicate a business’s financial information to shareholders and managers. In business there are various areas marketing, economics, accounting and finance among these accounting is one of the most difficult ones as it requires you to analyse and report a business’s financial transactions thought periods of time. Accounting divides into various areas but the areas I will mainly be looking at are financial and management accounting. Financial Accounting Financial accounting is about with the preparation of financial statements for the use of the stockholders, suppliers, banks, employees, government agencies and the owners of the business enterprise. It is intended to aid in the reduction of problems that may arise in the day to day transactions of the business. It publishes an annual report that summarizes an organizations financial data that are taken from their records. It is governed by local and international accounting standards. Its main purpose is to produce financial statements, provide information that can be used in the decision making and planning and to help an organization meet regulatory requirements. It is a legal requirement of all publicly traded organization. Management Accounting Management accounting is concerned in providing basis for decision making and use of information by managers within an organization. It helps identify, measure, accumulate, analyze and interpret information to be used in planning, evaluation and control to ensure the proper use of organizations resources. It also provides financial reports to shareholders, creditors, regulatory agencies and tax agencies. Management accounting involves sales forecasting reports, budget and comparative analysis, feasibility studies and merger or consolidation reports. It is intended to provide information that is more a forecast than a background, to managers within the organization, is confidential and is computed by using information systems rather than general financial accounting standards. It is used in strategic, performance and risk management. Management accounting has the following concepts: . Cost accounting which is a central element is managerial accounting. (GPK) which a German costing method that gives ways on how to calculate costs that are assigned to a product or service. . Lean accounting is used for a lean enterprise. . (RCA) gives managers the information required to support an organizations growth. . Throughput accounting which recognizes modern production processes   need for each other. . Transfer pricing which is used in manufacturing and banking. 1. Financial accounting is legally required from an organization, while management accounting is not. 2. Financial accounting must be reviewed by a separate accounting firm, while management accounting is not required of this. 3. Financial accounting is concerned about how the financial resources of the organization will affect its performance, while management accounting is concerned in how the reports will affect the behaviour and performance of its employees. 4. Financial accounting is governed by both local and international accounting standards, while management accounting is not. 5. Financial accounting is historical in nature, that is, the reports are based on an organizations previous performance and dealings, while management accounting is a forecast Bibliography Read more: Difference Between Financial Accounting and Management Accounting | Difference Between | Financial Accounting vs Management Accounting differencebetween.net/business/accounting-business/difference-between-financial-accounting-and-management-accounting/#ixz

Abandoned vehicle problem evidences Assignment Example | Topics and Well Written Essays - 750 words

Abandoned vehicle problem evidences - Assignment Example An abandoned vehicle can be plainly defined as a vehicle gone unattended, left parked with no information about the owner and further parked within an area of 10 feet or more or less the same, for a time period of 48 hours and in the publicly used or mostly in the privately owned area for around 30 days, without the permission or consent of the zone owner (Alaska Department of Administration, 2011). Some of the most common reasons of the car abandoning are as follows: Most of the cars abandoned in Jeddah are by the expats who do not find enough time to dispose of their cars and travel back to their native lands without going through the hassle of disposing off their vehicles. Some abandoned vehicles, that as in fulfill the above definition of vehicle abandoning i.e., stay parked at airports or other areas for a period of 30 days are actually left or parked by expats until their return from vacations from their native lands. Majority of these cars are old and derelict for a safe daily based use and parked as useless by the owner after they have removed all the proves of their ownership. Another big part of these abandoned cars come from both the local residents and expats who flee away from holding any accountability to the money owed for the cars, most of which comprise of luxurious sports cars. Some abandoned cars are highly under car loan defaults and the owners look for sneak away by parking the cars as unrecognized. Because of the above reasons and further many not identified properly, the car abandoning has turned into one of the biggest reportable issues of The Kingdom of Saudi Arabia, specifically in Birman and Jeddah. According to reports, Law enforcement officers have been into devastating nightmares dealing with the abandoned vehicles that have apparently been aggressively multiplying over the time. The major threats and environmental nuisance these abandoned vehicles are posing is rising alarmingly. They are taking up unwanted space and creating a se nse of insecurity amongst the normal residents as the long parked cars give a secure pathway for crimes (Historic Vehicle, 2012). Another big issue related to the vehicle abandoning is that they, if seen from a financial perspective are a big block towards making the cash liquid. Liquid cash is very important for the refining and uplifting of economic standards and the Kingdom of Saudi Arabia is amongst the strongest Arab economies. Their strength is most looked after for the viable working of the Arab and most importantly the economy of all the Muslim countries. A block of average 7200 vehicles per month is a bid hindrance to the smooth working of their economic system. The reinforcement authorities have actively involved Department of Specialized Hygiene of the Waste Department of Municipality to draft out feasible and practical strategies to work over the abandoned vehicles. Now, these abandoned cars are left at wait for the owner’s contact for maximum six months. During t his time, efforts are made to trace the owner and the vehicle is also printed in newspaper for any whereabouts of the owner. If the owner gets traced, he is levied with a penalty and warned to dispose of the vehicle officially or otherwise keep the vehicle and clear off the claims that the vehicle holds. Regular checks are made about the outstanding vehicle schedules that had prompted the owner to attempt silent abandoning (Seatlle, 2013). If the owner is found to have

Poe Essay Example | Topics and Well Written Essays - 750 words

Poe - Essay Example His poem ‘Annabel Lee’ is one of the greatest illustrations of Poe’s poetic talents. In the poem Poe through the narrator’s melodious voice presents the death of a beloved and its effect on the lover. â€Å"Using a melodious narrative form, the speaker laments the death, many years ago, of his beloved young bride Annabel Lee.† (Allen Poe, 2005-2006). The poem artistically develops the mysterious relation between the poet and his mistress whose death affected the poet greatly. An analysis of the theme, mood, and the point of view in â€Å"Annabel Lee† would confirm the merit of the poet as well as the poem as these elements of the poem, when analyzed is seen as largely effective in conveying the poem’s deep meaning. In a close reading of the poem, it becomes evident that the poet achieves great success in dealing with the prevailing theme of the poem conveyed through the literary tools which creates an effective mood that leads to the fo cal theme of the poem. In this paper, a very close analysis of Poe’s ‘Annabel Lee’ is undertaken in order to reveal the mood, theme, and point of view of the poem. Poe presents the main theme, mood, and the point of view of the poem in the very opening lines and we rightly identify the theme as the lamentation over the death of the beloved which happened long ago. The theme entirely focuses on the passionate relationship between the lover and beloved. We need also to understand the mood of the poem in this connection. It is clear from the poem that the central character, the maiden beloved, â€Å"lived with no other thought/ Than to love and be loved by me.† (Poe). The poem is told in the background of their deep love which â€Å"was stronger by far than the love/ Of those who were older than we-/ Of many far wiser than we† and this creates the mood of the poem. (Poe). The mood of the poem creates in the minds of the reader the same kind of an intense feeling of love and this proves the creative faculty of

Power and Organization Essay Example | Topics and Well Written Essays - 2250 words

Power and Organization - Essay Example â€Å"A has power over B to the extent that he can get B to do something that B would not otherwise do† (Dahl 1961 p. 202-203). Dahl chose to analyze decision-making on key issues only, and, furthermore, did not state objective criteria for the selection of such â€Å"key issues† (Dahl 1961). He held that he was able to identify subjective interests in the form of dominant policy preferences made visible by patterns of political participation in concrete key issue decision-making. Peter Bachrach & Morton S. Baratz (1962; 1963; 1970) fervently criticized this one-dimensional approach, asking whether a sound concept of power could be predicated on the assumption that it was totally embodied and fully reflected in â€Å"concrete decisions†.  Power is a term, which is defined in different ways by different theorist because power can be used as a means of influence in different ways. Way back, Max Weber has defined power as â€Å"Power is the probability that one a ctor within the relationship will be in the position to carry out his own will despite resistance (Weber, 1947, P.152). Nord has defined power in the context of mobilization of energy and resources to achieve one set of goals as against other sets of Goals. He defines power as follows. â€Å" Power is the ability to influence flows of the available resources towards certain goals as opposed to other goals. Power is assumed to be exercised only when these goals are at least partially in conflict with each other (Nord, 1978, P.675). Robbins has defined power in the more elaborate way when he says† Power refers to a capacity that A has to influence the behavior of B so that B does something he or she would not otherwise do. This definition implies 1) A potential that need not be actualized to be effective 2) A dependence relationship, and 3) That B has some discretion over his or her behavior†.

Case Study Fuala Choclates Company Marketing Essay

Case Study Fuala Choclates Company Marketing Essay Fuala Company considered as one of the most famous chocolate companies in the UAE, this company has been established in 2002 moreover it has many branches in all Emirates states. The name of Fuala comes from the hospitality of UAE people. This report will cover many points such as business description, unique selling point, Company advertising, Strengths plus weaknesses, Company problems in addition to the solutions and Companys market share. LiRead phonetically khaleejia.blogspot.com/Fuala-Emirati-à ¢Ã¢â€š ¬Ã… ½ 2. Business Description  Dictionary View detailed dictionary noun introduction prelude preface preamble foreword premise vanguard advance guard proem adjective headlong adverb fore pFuala pride identity of the UAE is a national company specializing in making all kinds of sweets and chocolate, founded in 2002 to be the sample of local industry with excellent quality, belief in the importance of participating in the report of development and experience of those who made it paid to the challenge of all that is imported to begin with the idea of manufacturing Fuala inspired from the date of the UAE and the taste of the community and his love disease. Fuala makes marvelous cakes, cookies, in addition to biscuit with high quality dates filled by different kind of nuts. If you need to make an official gift Fuala makes dazzling gift-sets, perfectly decorated on the big plate or in basket .Often local emirate buy them for el- Edie, weddings ,moreover baby birth .I usually buy them when I go to visit my dear friends or occasion . Faula has shops all over UAE cities with the same price also company offers 80 flavors. www.thenational.ae//Ramadans-sweetest-job Fuala companys by the general manager detection Radwan ALHosni built a large factory special with its products in the city of Dubai In 2007 at total cost of up to AED 50 million, noting that there are continuous efforts to expand the plant to meet the needs and demands increased and contributes to the increase in production for the opening of stations selling. www.facebook.com/fuala 3. Unique selling point The company has several rival of foreign companies, but depends section to accept the consumer industries and products, and at the same time the company try to get a high level to be with global companies, despite the major differences, the field of providing products that beat their quality from other companies such as sweets the most impressive kind of date, dry figs apricots and biscuits. The company makes fresh chocolates simple as that. Our difference is double The taste Fair trade part sourced this will make a difference to both your taste flower and to cocoa growers conscience clear! vimeo.com/tag: snacks/page:8/sort: newest The design of the basket and checkout has been a labor of love to try and give customers all the options they need in a simple interface. Customers can choose to collect their order (and save money) or have the Chico delivered. They can also choose multiple recipients to send any www.flickr.com/photos/again/31159915 number of containers to, with a note for each and even decide how the tins should be packed-either individually to letter box size or in a single pack. The company goes step by step to be more famous than another competitor in UAE plus all over the world in next view year because it use some thing special to make their products, furthermore it has managements enjoys ability along with renewable goals with provides the best. According Fuala became an associate to all society members in all occasion and availed its powers to record great results. www.facebook.com/fuala?v=wallviewas=0à ¢Ã¢â€š ¬Ã… ½ 4. Company advertising Fuala company from time to time dose several things for the advancement of the definition of its products for example in the firstly, advertise in newspapers and magazines to attach some pictures + Posting some of the paragraphs concerning chocolates Secondly, its offer programs for the company and shows products through television channels with the work of a television program are displayed some of the products Company. Thirdly, shows products through the screens in malls in the State Assembly. Fourthly, its shows products in exhibitions by using some kinds to explained how its tasty and delicious .Finaly,Fuala use the internet to advertising the products in several website ØÙ„ØØ ³ÃƒËœÃ‚ ªÃƒâ„¢Ã¢â‚¬ ¦ÃƒËœÃƒËœÃ‚ ¹ قؠ±ÃƒËœÃƒËœÃ‚ ¡ÃƒËœÃ‚ © Ø µÃƒâ„¢Ã‹â€ ÃƒËœÃ‚ ªÃƒâ„¢Ã…  ÃƒËœÃ‚ © للكلÙ†¦ÃƒËœÃƒËœÃ‚ ª ØلقØÙ†¦Ãƒâ„¢Ã‹â€ ÃƒËœÃ‚ ³ Ø ¹ÃƒËœÃ‚ ±ÃƒËœÃ‚ ¶ ØلقØÙ†¦Ãƒâ„¢Ã‹â€ ÃƒËœÃ‚ ³ Øلن¦Ãƒâ„¢Ã‚ ÃƒËœÃ‚ µÃƒâ„¢Ã¢â‚¬Å¾ ØØ ³Ãƒâ„¢Ã¢â‚¬ ¦ reinforcement article.wn.com/view/chocolate 5. Strengths and weaknesses All companies have something good and bad all over the word for example, the strengths in Fuala the brand which the company take it from UAEs hospitality which people used to have it in the past and still have it now .The tasty of the chocolates and the flavors when you try it for the first time you will never forget it at all, so in the next time you will need more.. Products experts specialize in the art of pastries, citrus and chocolate. annmariemcqueen.blogspot.com The company has an experience of international chefs are trained by the chefs of Europe. Its use the best types of dates, figs and apricots in their products so its make them delicious and more needs from customers. Select the best types of raw materials as well as they use of best natural products .Fuala has modern shops with new machines and their staff the know how to management them in right way in all condition without any problems. The weaknesses in Fuala Company are a little put still effect their work for example, it has limited scope of work within the State only. The company provide expert foreign to offer training courses for workers in it so it cost DH 50000 during the week .On the other hand some Arab workers inexperienced for the variety work so they need for continuous training, which cost the company a lot. Some sweets attitude a high amount of sugar, which can unhealthy for users. Although it has shops in all emirate cities put, it has only one warehousing it based in Abu Dabi. ØÙ„ØØ ³ÃƒËœÃ‚ ªÃƒâ„¢Ã¢â‚¬ ¦ÃƒËœÃƒËœÃ‚ ¹ قؠ±ÃƒËœÃƒËœÃ‚ ¡ÃƒËœÃ‚ © Ø µÃƒâ„¢Ã‹â€ ÃƒËœÃ‚ ªÃƒâ„¢Ã…  ÃƒËœÃ‚ © للكلÙ†¦ÃƒËœÃƒËœÃ‚ ª ØلقØÙ†¦Ãƒâ„¢Ã‹â€ ÃƒËœÃ‚ ³ Ø ¹ÃƒËœÃ‚ ±ÃƒËœÃ‚ ¶ ØلقØÙ†¦Ãƒâ„¢Ã‹â€ ÃƒËœÃ‚ ³ Øلن¦Ãƒâ„¢Ã‚ ÃƒËœÃ‚ µÃƒâ„¢Ã¢â‚¬Å¾ ØØ ³Ãƒâ„¢Ã¢â‚¬ ¦ attenuating circumstances www.facebook.com/fuala 6. Company problems and the solutions All company has problems some are similar and another are different for example in Fuala company they have many problem firstly it hasnt any support form the government so that it will be always keep it in risk. Then the company is new in the market, so it might be failure at any time. Next, it sales their products in UAE so the profit will not increase like if it has external work .Finally, The rent of the shops were it sale their products is very high so the profit will be decrease. The solutions to solve the problems the company open a big factory in Dubai to use it for providing more products, which can seals to other countries. The company started to open shops in out side boarder for example, Oman, Qatar and KSA so this plan will make more profit for the company and it will be famous all over the world. The company try to create some thing new in the market so it will be good for customers to have a new tasty product ,so it will be satisfied them so the profits will increase. Vimeo.com/fualaà ¢Ã¢â€š ¬Ã… ½ 7. Companys market share However, this company begins by less than one million dirhams step by step they became good company with good reputation. In 2007 they spent about 50 millions just to built new factory in Dubai. If we think about the history of this company as we mentioned before it started in 2002 by less than 1million as well as in 2007 they built new factory cost 50 million this tell us that this company still developing furthermore this is indicate to high amount of people who are dealing with this company. 8. Conclusion Fuala Company now is hard challenger to other chocolates companies and there is plan to offer some types of sweets in other countries such as France and Italy. Absolutely it will attract many people and this will give us good reputation for Arabic sweet. www.facebook.com/fuala

Research Movie Paper

In the beginning, the setting took place on a never ending road where Gilbert and Arine were sitting; waiting to see the campers come in. This seemed to be something they did often together. The lived in a town where nothing ever much happens. Gilbert worked at a local grocery store where he describes it as being â€Å"empty†. At home gilbert takes care of his youngest brother Arine. Arine has a disability problem and wasn’t expecting to live as long as he did. At any time his life was over. Gilbert has two sisters, a 15 year old name Ellen, and another sister who use to work at the school kitchen until it was burned down her name was Amy. He’s mother was a large women who haven’t left the house in almost 7 years but that was soon to change after an accident occurred with Arine. Gilberts farther died so most of the responsibilities were left with him. When Gilbert goes to work Arine sits there and waits for him. Just before Gilbert shift was over a women called by the name of Betty Carver calls for a delivery. Betty quickly alarmed the kids to go outside to play. Gilbert took the groceries to the kitchen where Betty starts to kiss him, showing that this was something that usually happens while he makes deliveries. The kissing stops when Gilbert sees Mrs. Carver husband outside on the trampoline with his kids. While walking out Mr. Carver sees ice cream that was fed to him by Mrs. Carver on his face and immediately tell Gilbert that he wants to see him in his office. When he got to his car he noticed Arine was missing. He sees Arine climbing the town’s water tower and sings to him to get him down. By the way the police were talking to gilbert Arine had done this before multiple times. On their way back to the car they notices the girl from one of the campers that where driving in. Later in the movie the family is planning an 18th birthday party for Arine. One day while they were visiting a cafe they saw the girl from the campers again. They got really close and Gilbert and Becky began to see each other more. One day when Becky and Gilbert were hanging out Gilbert had to go home and give Arine a bath, when he got there he told Arine that he was old enough to wash up by himself. So he left. When he got back home he noticed that Arine was still in the tub shaking back in forth from being in the tub all night. After then Arine never wanted to take a bath again. One night Gilbert tried to tell Arine that it was time for him to take a bath so they were in the bathroom and Arine wouldn’t get in so they started fighting and Gilbert hit Arine and Arine ran away to Becky’s house. When he arrived home the next morning it was his 18th Birthday party. Gilbert came home later that day to find out that Arine party had started when he got there he apologized to Arine for hitting him. Gilbert introduced Becky to his mother even though she hated people to see her because of her wait. After the party was over Gilbert, Amy, and Ellen began to clean up while Bonnie sat on the couch and watching television but not for long after sitting on the couch for 7 years without never getting up she finally got up and made an effort to go upstairs to her room that she haven’t been in since the death of her Husband. While she was upstairs she asked Ellen to get her some water while to talked to Gilbert she told him that he was her â€Å"Night and Shimmering Armor† after they were finished talking she asked to talk to Arine as she referred to as the Birthday Boy. When Arine got upstairs he started to call for his mother but she wouldn’t respond he thought she was playing a game and he got irraitted but his mother was dead. When Gilbert and his sisters were upstairs they cried. Later they burned the house down because they knew no one would be able to remove their mother from the house.

Art of War Studies Essay

What is War? In order to describe what war is one has to define it. According to The Collins Dictionary war is 1. open armed conflict between two or more parties, nations or states†¦ 2. a particular armed conflict: the 1973 war in Middle East. 3. the techniques of armed conflict as a study, science, or profession. 4. and conflict or contest: the war against crime. 5. (modifier) of, resulting from a characteristic of war: war damage; war history. This is obviously straight to the point, but does not go into enough detail to fully describe what war is. Clausewitz chooses not to follow the definitions put forward by, what he calls, â€Å"publicists†, in ‘ Vom Kriege’. Instead he puts forward his own view that it â€Å"is nothing but a duel on an extensive scale.† To fully understand what war is you have to look at the four main factors in war; force, the agents involved, intensity and duration, and teleology. The use of force and the violent nature of it is arguably the most obvious feature of war. However, one has to consider what force actually is, the answer to this creating significant disagreement. When talking about the use of force as a feature of war one immediately considers this force to be of military form, whereby weapons are used to strike down their opponents. This is of course true to an extent, but is not the only force used in war. Force can also be political or ideological force, as seen in the beginnings of the Cold War. Here, the Soviet Union uses their ideological ties with other countries in Eastern Europe to force them to reject the Marshall Plan in their war against the United States of America (US) for dominance. Clausewitz’ ‘Total War’, whereby the nations uses all of their wealth and resources, putting them on the line, in order to destroy their enemy’s armies, property and even their citizens, ties in with this use of force. Here, force is everything that the attacking group can muster together in order to destroy the other group’s will to fight and bring a quick, decisive victory, and can involve killing soldiers as well as destroying important buildings. Wars are not always like this, and with the introduction of nuclear weapons, Van Creveld believes that ‘conventional war’ is effectively at its end. Also, if this ‘Total War’ was true then more groups would use nuclear weapons in order to win the war, but they do not. This is due to mutually assured destruction and the risk of a backlash from other nuclear powers. There has been plans to try and incorporate nuclear weapons into conventional war, but this was unsuccessful. When considering what is war, it is not simply a case of the use of force by the attacking party, but one has to take in account the opposed force. Without this opposed force it would not be war, it would simply be a massacre or perhaps genocide. The form of opposition force, like an attackers force, can vary, whether they respond in an offensive or defensive manner. If they are defending the war will be restricted to their own turf and their forces concentrated on preventing attack and protecting certain people or buildings. However, the offensive force of the attacking party can be met with similar offensive force. The war will ultimately begin on their turf as they are being attacked, but they will attempt to remove the threat and then attempt to destroy them as in Clausewitz’ ‘Total War’. If force is indeed the use of weapons, then one has to consider what sort of weapons are used in war. Weapons have changed through time, becoming increasingly high-tech to the point of nuclear weapons that could remove all humans off the face of the earth, but they have not been used to their full extent as of yet. The larger powers tend to use weapons such as aircrafts with bombing and firing capabilities, tanks and battleships, whilst the soldiers involved will carry such things as guns and grenades. Martin van Creveld puts forward his thesis that in future wars weapons will become less sophisticated due to the types of groups involved. With this, he believes the production of high-tech weapons will stop and cheaper, but still effective weapons, will be used. This is already happening in the war between Al-Qaeda and the West, where they are trying to bring down the US and the whole western system. They did not kill people with high-tech weapons in their most devastating strike against the US, which killed thousands of people, but took over two aeroplanes around New York and flew them into two buildings, which were among the most important in the West, showing it does not have to be all guns and bombs in wars. Another important part of war is the agents involved in it. In today’s world, since the Peace of Westphalia, one would find it very tempting to say that war is a game played out by states. However, it is increasingly emerging to be not just a game played by states, but other groups are emerging that take refuge in sympathetic states that wage war on other states or groups. One such group is Al-Qaeda, which took refuge in Afghanistan in their fight against the West. If it is states fighting wars then this will be very similar to Clausewitz’ ‘Trinitarian’ war, which is made up of a trinity of the government, the army and the people. In this situation, the government decides whether to go to war but they do not fight it. The army are strictly the players in the game and the ordinary civilians are not allowed to join in at all. If indeed this is true then all wars in the world would be an army versus an army. However, in today’s world we see wars break out between armies and a group of civilians, like the situation in Iraq at the moment and the ‘War against terror’. Wars can even break out between two non-army organisations, such as a gang warfare between Mafia groups, although obviously the scale will not be as big as van Creveld’s ‘conventional war’. These wars which do not occur between armies does not fit into Clausewitz’ ‘Trinitarian’ war, but is more an element of van Creveld’s ‘non-Trinitarian’ war. He sees a decline of the state and with this the liquidation of boundaries between the trinity. This means that it will not only be armies that fight wars, but also groups of civilians, as seen with groups like Al-Qaeda. This arises another important part of war, which is how intense or how long it has to go on for in order for it to be classed as a war and not a skirmish of any other act of violence that is not a war as such. A war cannot simply be a single gun fight between two gangs as this is just a one off event. It has to be a series of events or battles between two or more groups for a certain cause. The saying â€Å"you may have won the battle, but you have not won the war†, although is a very dramatic saying, is perhaps the most obvious quote that war cannot just simply be one battle, that would be a skirmish. War is number of these skirmishes and would ultimately be more than two. The intensity is another matter, and this varies from war to war depending on the strength, nature and will to destroy of the groups involved. Wars do not necessarily have to be high intensity, although Clausewitz’ ‘Total War’ would be, where as Van Creveld’s ‘Low Intensity Conflict’ would not. War would not happen if it was not fought for a certain reason, for that fact one has to understand what means war is fought for. This can be seen in Clausewitz’ definition that â€Å"war is the continuation of politics by other means†. War is not always going to be fought for political reasons and can in fact be due to such things as ideological and economic factors. In conclusion one can see that the definition of war in a dictionary is not explicit enough. Saying war is an â€Å"open armed conflict between two or more parties, nations or states† is much too thin an answer to discuss what war is in who is involved. Discussing fully the four factors in the introduction brings about a clear definition of war, which cannot really be put into a few sentences as it varies a great degree and is ever changing through time, whether it be who is involved, the weapons used or the means of which it is fought for. Bibliography Martin van Creveld – Transformation of War Carl von Clausewitz – On War Lawrence Freedman – War The Collins Dictionary

The Letter C in French

The Letter C in French The letter C in French is very similar to how we use it in English. It can be hard or soft depending on the letters that follow it, it can have an accent, and the pronunciation changes when combined with other letters.   This quick French lesson will walk you through the various ways to pronounce the letter C. There are even a few examples to practice along the way. Pronunciation The French letter C  is a lot like the C in English. The sound will change depending on if it is followed by a hard or a soft vowel. The French C  can be pronounced in one of two ways: Soft pronunciation - In front of an E, I, or Y, the C is pronounced like an SHard pronunciation - In front of an A, O, U, or a consonant, C is pronounced like a K When a C is in front of a hard vowel but has to be pronounced as a soft C, the accent cà ©dille - à § - is added to make it soft. Thus, à § is never found in front of an E or I  because those are soft vowels. French Words With 'C' With that introduction, lets practice a few C words in French. Given what you just learned, try to pronounce each of these words on your own. Then, check to see how you did by clicking on the word and listening to the proper pronunciation. Run through this exercise as much as needed to perfect your C sounds and expand your vocabulary. cafà ©Ã‚  (coffee)sucre  (sugar)ceinture  (belt)nià ¨ce  (niece)à §a va?  (how are you?)caleà §on  (mens underwear) Letter Combinations With 'C' The letter C is also used in a few common combinations and the C sound will change. As you learn more French, you will come across these quite often, so its good to practice them. CH  - Pronounced like the English SH or like a K.SC  - In front of a soft vowel, it sounds like an S. In front of a hard vowel or consonant, the S and C are pronounced separately and according to their respective rules.As in  sciences  (science) or escargots  (snails).XC - In front of a soft vowel, it sounds like [ks] or the soft X.  In front of a hard vowel or consonant, the X and C are pronounced individually and according to their traditional rules.As in  excentre (outlying) or express (espresso).

Immigration to Americas essays

Immigration to Americas essays Prior to 1650, many Englishmen immigrated to the New World, specifically to the North American Colonies. These immigrants fled from a society that they found to be displeasing in many specific ways. Although economic and political values led to much of the English migration to the New World, religious tumult in England was undoubtedly the main cause for the immigration. James I, who believed in the divine right of kings, thought he was allowed to disobey Parliament because he answered to no one but God. He started a conflict with Parliament that gained momentum under Charles I's reign. This conflict finally sparked a civil war lasting seven years, during which time the government unsympathetically persecuted its citizens, driving many of them out of the country. Furthermore, England's unstable economy and inflation led to much poverty. The demand for a certain raw material like wool could put many slaves out of a job if the landowner suddenly decided it was more profitable to raise sheep; thus requiring only a small fraction of the work force. Inflation also made life hard for the poorer people, who found they could no longer pay for basic necessities. People saw that moving to the North American Colonies was a great money-making opportunity. Growing sugar on islands off the North American coast was so profitable that one man's capital may have spilled over to a relative who lived generations later. People were also quite excited about the idea of Capitalism, the economic system in which one makes even more money by investing his capital in a growing business, for example. Finally, people saw that the vast fields in the New World would yield much produce, and that moving to the Colonies was an opportunity too good to pass up. Religious conflict, however, was the main factor contributing to the English migration to New England. The...

High School Athletic Department Research Paper Example | Topics and Well Written Essays - 3750 words

High School Athletic Department - Research Paper Example Furthermore, the HR portfolio speaks about performance appraisal, reward systems, motivation, and job design, leadership and decision style, and on how these can be applied into the Orange High School Athletics. This portfolio is in line with the purpose of describing the entirety of the sport organization and improvement of the human resources which are essential to the improvement of the organization. Introduction The mission of Orange County High School Athletics Department is to let students explore in an environment of positive, supportive, nurturing and safe where they have room to grow, excel and succeed in their endeavors in all aspects such as academics and sports. Students are expected to develop critical-thinking and civic-minded values, and contribute to the local community and to the global society. The members of the organization believe in the following: (1) the core business of the Orange Schools is to provide students a learning environment, and make their studies an d physical activities valuable, satisfying and challenging; (2) students will be able to reap something worth keeping if they are exposed, guided, and taught; (3) the environment that the students stay must be nurturing, safe, and conducive for learning (4) all students need adults’ supervision and care; (5) all individuals such as staff and employees shall adhere to commitment for excellence and teach students with values (6) cooperation and gathering among all members of the organization and the community help build stronger relationships with the students in their learning (â€Å"Orange County Schools,† n.d.). Meanwhile, following the hierarchical organizational structure, these are the ranks/positions within the organization: the principal, the athletic director, the interscholastic athletic director, and coaches. In order to carry out the goal well, the staffs and employees are in constant coordination. They connive to each other’s office to achieve desired results. For example, in Orange County School’s Interscholastic Athletic Program, the principal is responsible for the operation of the entire school in cooperation with the Athletic Director. The main function of the athletic director is to oversee all school athletic programs to ensure that all interscholastic athletic programs are conducted in accordance with the North Carolina State Board of Education, North Carolina High School Athletic Association (NCHSAA) requirements, policies established by the State Board of Education, the Orange County Board of Education, and the General Statutes of North Carolina (â€Å"Mission Statement,† n.d.). All program leaders must construe to the duties and responsibilities set forth by the organization’s Constitution and by-laws. Staffing 1.1 Staffing Needs Assessment First and foremost, before jumping into the more critical points in the organization like doing the job analysis, job description, job specification, hiring an d so on, the Human Resource personnel should consider the assessment of the current staffing situation of the organizatio

Other Essay Example | Topics and Well Written Essays - 500 words

Other - Essay Example However, Tough’s portrayal of Geoffrey Canada’s passion to change the prevailing perspective that I share with millions of other people in America made me sit up in awe, curious to find out if his grand plans for Harlem’s children will work. His promising idea begins with very early interventions, even as early as from the womb, and to empower parents with the right skills to raise their children well. Canada is interested in combining educational, social, and medical services to help all children to grow up with the right foundations regardless of their family’s socio-economic status (4). He envisions that the only way to solve the problem of poverty in America is to â€Å"transform every aspect of the environment that poor children were growing up in; to change the way their families raised them and the way their schools taught them as well as the character of the neighborhood that surrounded them† (19-20). It would seem like a tall order, but com e to think of it, it does make sense to start a-fresh with people who are appropriately trained to combat poverty as they grow up to be intelligent, compassionate and productive citizens. My mindset before reading this book was that it is society’s fault that poverty is so widespread. The cause of the deterioration of morals is mainly due to people’s need to acquire their basic needs from a society that does not give them enough opportunities to live a high quality of life just because they are poor and uneducated. This book has caused in me a paradigm shift that problems should be addressed from the grassroots level, in this case, from childhood or earlier on. To be dependent on society or government would only be setting oneself for failure if one does not do anything out of his own initiative. Children should develop their skills early on so they can be self-reliant. Tough echoes this: â€Å"Skill begets skill; learning begets learning. Early disadvantage, if left

Coursework Example | Topics and Well Written Essays - 750 words - 2

Coursework Example that the company should consider includes ensuring that the quality of the products is not compromised at any time as this will help to maintain the sales levels and the profit margin. Absorption costing also known as full costing is a costing technique that value the closing stocks at the fill production cost including the fixed production costs. This method treats the fixed costs as product costs and they are incurred when the stock has been sold. The cost per unit constitutes both the fixed and the variable production costs. The process of absorption costing is as follows: gathering the raw data from the financial records, classifying the raw data in respect to the type of expense a process known as coding, cost analysis, determination of the cost centres that provide services to production cost centres, identify product cost centres that are involved directly with the production process and finally overhead absorption. This technique can be applied in different types of organizations that deal with the production and manufacturing of various products. For example the organizations that deal with sales have different costs that can be absorbed using the absorption technique to prepare the financial statements. A manufacturing organization is another example where this technique can be applied to absorb the various overhead costs using the direct costs incurred as the cost centres for allocation of the overheads. Absorption costing absorbs the total overheads into production and this generates implications when measuring performance, cost control and also the valuation of stocks. It is worth noting that the fixed costs do not vary with the level of activity and therefore this can lead to managers making incorrect decision about the business operations. Additionally, absorption costing allocates the overhead costs including the fixed costs on the basis of the cost driver. This method can be biased in determining the cost driver for each cost and therefore this

Nutrition and The Journey of Life Essay Example for Free

Nutrition and The Journey of Life Essay Caring for and fueling our bodies requires for the mother to take prenatal vitamins in order to meet us to keep a balanced nutrition. Just as our bodies The nutritional needs of the growing fetus. need the right nutritions so does a embryo, futons and baby in order to grow and develop properly. Nutrition and pregnancy The mother must make good nutritional The first eight weeks after fertilization which choices such as eating foods such as the ones is known as the embryonic stage the embryo gets its illustrated above rather then processed foods and nutrition from the lining of the uterus, but after week snacks that will provide little nutrients, these good 9 of development the growing fetus will get its nutritional habits can be practiced after birth and oxygen and nutrients from the placenta. Can be taught to the baby. The fetus is growing everyday which requires a If the nutritional needs of the fetus are not met variety of nutrients such as calcium, copper, folic acid, several health concerns may occur such as iron,vitamins A, B6, C, D and E. The demand for these Complications with fetal development, fetal size nutrients by the fetus will have to be met by having a organs, brain, and may cause a miscarriage and proper and Healthy diet, but it may also be necessary death of the infant and or mother. Post Birth Nutrition Additional Information From conception to birth the process of creating Having the proper knowledge of the nutritional baby requires a lot of energy and nutrient for the mother needs of the body before conception and post and the developing fetus, after the birth of the baby the child birth is very important for the well being newborn will continue to need nutrient in order to grow of the mother, fetus, and baby. The are several and develop. The baby will receive it nutrient from milk resources that people can use to learn more for the first year of its life so it is important to decide about the nutritional needs of the mother and weather the baby will consume breast mil or formula. fetus, listed below are some of these resources. Breast milk VS. Formula 1. Chosemyplate.gov Breast milk is the perfect food for babies it contains all 2. Medline Plus webpage and call center the nutrients that the baby will need to grow and 3. Baby center develop . Unlike formula breast milk contains properties 4. Seek the advice of your doctor that protect against infections such as white blood cells  also breast milk can pass on immune shots that the mother  may receive such as a flu shot. Formula are getting better  through he years to mach the ingredients found in breast   milk such as DHA and ARA. References Choose my plate. (2016). Retrieved from http://www.choosemyplate.gov/pregnancy-breastfeeding/pregnancy-nutritional-needs.html Grosvendr, M., Gmolin, L. (2012). Visualizing Nutrition Everyday Choices (2nd ed.). Retrieved from .

Essay --

Stephanie LaGrua Professor Nichols Art and Human Needs Final Exam 13 December 2013 Part One: Shelter The Villa Rotonda is a house built by Andrea Palladio from 1566 to 1571. The Villa Rotonda is located on top of a low hill in Vincenza, Italy. Built during the Renaissance era, this 16th Century Italian house has showed influence to many other architects throughout the world. The Villa Rotonda is the most urbanized structure Andrea Palladio has constructed. The floor plan was a square floor plan roofed by a dome. The structure has four entrances with each having steps leading up to a columned portico, porch like area. It has been said that the columned porticos give the building a Roman Temple look. The Villa Rotonda only has livable rooms on the first floor while the second floor is strictly state rooms. Andrea Palladio designed the Villa Rotonda with mathematical precision and symmetrical proportions. Fertility/Sexuality The Venus of Willendorf, or also called, The Woman of Willendorf, is a statue of a female that is 10.8 cm high. Johann Veran had found the statue is 1908 in a village called Willendorf in lower Austria close to the city of Krems. Which is how it has gotten its name. The statue is now held in the Naturhistorishes Museum located in Vienna, Austria. The figurine was carved between 28,000 BCE and 25,000 BCE. This time period was the Paleolithic Period, also more commonly known as the â€Å"Old Stone Age.† The statue is made of a type of limestone that is not known to be produced in the surrounding area it was found in, along with a reddish tint of red ochre. The figurine does not have a way to stand on its own due to the fact it does not have feet. The statue also does not have a face but does have what it seems to b... ...ch her face. She looks off into the distance not knowing what is going to happen and despair in her eyes. The wrinkles and creases on her face show worry and sadness. There are two children almost hiding behind her as she slouches forward cradling a baby that seems sound asleep. Her shirt is unbuttoned, her clothes along with the children’s clothes are dirty and worn out. The Migrant Mother communicates emotions of fear, uncertainty, pain and depression that many American families felt during this period. The photograph portrays what life was like for America’s families suffering during this depression. The fact that this in an actual photograph and not a painting makes it more compelling and relatable because it is a realistic view of a human being in pain. A painting would just be a replica therefore the affect it would have on people would not be as significant.

The William Wrigley Jr. Company Essay

1.0   Introduction Identifying opportunities for corporate financial restructuring was typical for Blanka Dobrynin, a managing partner of the hedge fund Aurora Borealis LLC. In 2002, with the then debt free William Wrigley Jr. Company (Wrigley) in her sights, she asked her associate Susan Chandler to conduct research on the impact of a $3 billion debt recapitalisation on the company. This case report aims to make an informed recommendation on whether Wrigley should pursue the $3 billion debt proposal. 2.0 Optimal Capital Structure According to Miller and Modigliani’s (1958) first proposition, the value of a firm is independent of its capital structure, assuming no corporate taxes. It was later demonstrated that the existence of debt in the capital structure creates a debt shield that increases the value of the firm by the present value of the tax shield (Miller & Modigliani, 1963). This line of reasoning implies that debt financing adds significant value to the firm and an optimal capital structure occurs with 100% debt. However, this is an unlikely outcome in reality with restrictions imposed by lending institutions, bankruptcy costs and the need for preserving financial flexibility implying that management will maintain a substantial reserve of borrowing power (Miller & Modigliani, 1963). These imperfections have since been discussed as additional factors when determining an optimal capital  structure. The trade off theory suggests that an optimal capital structure may be achieved by determining the trade-off between tax shields and the costs of financial distress (Kraus & Litzenberger, 1973). The presence of tax shields means that the optimal capital structure decision is unique for each firm (DeAngelo & Masulis, 1980). High levels of debt can lead to indirect bankruptcy costs and financial distress costs which relate generally the costs associated with going bankrupt or avoiding bankruptcy. At high debt levels, the benefit of debt may be offset by financial distress costs. It appears that the optimal cash structure exists somewhere in the middle. Jensen and Meckling (1976) noted the existence of ‘agency costs of debt’. These costs arise when equity holders act in their own interest rather than the firm’s interest. As Wrigley is a family owned company it is unlikely that agency costs will be an issue. 3.0 Weighted Average Cost of Capital (WACC) The question that underlies the decision to pursue the debt proposal is whether Wrigley is efficiently financed without debt. In this report, the WACC will be the main factor when determining whether Wrigley is efficiently financed. The WACC is the minimum return that a company needs to satisfy all of its investors, which is also the – it is the required rate of return on the overall firm. The value of Wrigley will be maximized when its WACC is minimized. This report will examine the optimal capital structure as the one that produces the lowest possible WACC. WACC is one of the most important methods in assessing a company’s financial health, both for internal use, such as capital budgeting, and external use, such as valuing investments or companies. It is able to provide an insight into the cost of financing and can be used as a hurdle rate for investment decisions. It can also be used to find the best capital structure for the company. The WACC can be used as a rough guide to the interest rate per monetary unit of capital (Pratt & Grabowski, 2008). The WACC method can be considered a better indicator than other methods such as earnings per share (EPS) or earnings before interest and tax (EBIT) because it takes into consideration the relative weight of each component of a company’s capital structure (Armitage, 2005). The calculation uses the market values of the components rather than the book values as these values may differ significantly. The components WACC takes into consideration include internal and external factors such as equity, debt, warrants, options, pension liabilities, executive stock options and government subsidies (Hazel, 1999); whereas the EPS and EBIT calculations only take into consideration the internal factors, such as total earnings. of the company and However, the earnings reported by a company may not be a reliable value, as they tend to report more favourable values as opposed to the true amounts. However, as the WACC is calculated according to M&M theory, some of the input parameters can be difficult to ascertain. This is due to the uncertainty that exists in the market that would influence the outcome. Another issue limitation with the WACC, is that it relies on the assumption made in the M&M propositions, which do not necessarily apply in the real world. Some assumptions that do not apply include the fact that transaction costs exist and individuals and corporations do not borrow at the same rate. Referring to Appendix 1, the calculations show a slight increase in the WACC after the $3 billion debt is acquired. This change is more profound when using the 10 year US treasury rate as the risk free return – an increase from 10.11% to 10.28% for the WACC. Therefore it appears that the optimal capital structure for Wrigley would be one containinginclude no debt as this provides the lowest WACC. 4.0 Estimating the effect of the recapitalisation on: 4.1 Share value In an efficient market, it is assumed that the share price will change  quickly to reflect investors changing perceptions about the new debt issue. The effect of the recapitalisation on the share price can be summarised by Miller and Modigliani’s adjusted NPV formula: Post-recapitalisation equity value = Pre-recapitalisation equity value + Present value of debt tax shields + Present value of distress related costs + SignalingSignalling, incentive & clientele effects Assuming the debt will continue into perpetuity, the present value of the $3 billion debt would be $1.2 billion. Using the post recapitalisation value of equity incorporating the tax shield of $1.2 billion, the stock price is increased from $56.37 to $61.51. The remaining factors of this equation are very difficult to ascertain. The present value of the distress related costs could be assumed to be the value of a put option on the debt. Nevertheless, it could be assumed that financial distress costs would be negligible in Wrigley’s situation, as it is a market leader with a strong financial position. It is very difficult to estimate the cost of signalingsignalling and clientele effects and it is necessary to bear this in mind when looking at the increase on share price as it does not fully reflect all relevant considerations. 4.2 Level of Flexibility Financial flexibility refers to the ability of a firm to respond in a timely and value-maximizing manner to unexpected changes in the firm’s cash flows or investment opportunity set (Dennis, 2011). Chief Financial Officers surveyed by Graham and Harvey (2001) state that financial flexibility is the most important determinant of corporate capital structure (Graham and Harvey, 2001). A flexible capital structure can be achieved by preserving access to low-cost sources of capital. DeAngelo and DeAngelo (2011) argue that firms should optimally maintain low levels of leverage in most periods in order to be better equipped to cope with the adverse consequences of exogenous shocks. They also argue that firms should maintain low leverage and high dividend payouts in â€Å"normal† periods in order to preserve the option to borrow or issue equity in future â€Å"abnormal† periods characterised by earnings short  falls and/or lucrative investment opportunities. The financial flexibility of Wrigley will be reduced as borrowing $3 billion now will lower their ability to borrow in the future if there are any lucrative investment opportunities or cope with any unexpected exogenous shocks to the market and themselves. 4.3 Mix of Debt and Equity Considerations have to be made when evaluating the recapitalisation of Wrigley’s capital structure by adding debt. A concern of Wrigley is deciding the debt ratio which optimizes the overall value of the firm. Companies are often inclined to choose debt over equity as the cost of debt is cheaper due to the tax shield created. With the addition of $3 billion of debt in Wrigley’s capital structure, the tax shields benefit will increase the equity value by $1.2 billion. The estimation of the tax benefits are assumed under the condition that Wrigley will maintain debt value of $3 billion in perpetuity. As a result of $3 billion payout, the value of equity will decline by $1.8 billion which will be offset by the present value of the debt tax shield ($1.2 billion). Wrigley’s debt/equity level after recapitalisation will be 78% and 22% debt. The traditional view is that taking on higher levels of debt could potentially generate more earnings on positive NPV projects which could increase the company’s value. Although it should be noted that considerations have to be made at what which point, debt becomes more costly to Wrigley in terms of increased risk to shareholders. Assessing Wrigley’s optimal debt level, it suggests that the optimal point would be not taking on any debt. By taking on debt, Wrigley’s credit rating will fall from AAA to BB/B, as it would be increasing it’s risk levels of financial distress and risk of bankruptcy cost. Assessing From this, it can be recommended that Wrigley’s optimal debt level, it suggests that the optimal point would be not taking on any debt.having minimal debt. 4.4 Reported earnings per share Before the proposed recapitalisation, Wrigley will have no minimal debt. If Wrigley does not have any income, they still need to pay the interest on the debt, so EPS will be negative. Referring to Appendix 2, the two lines intersect where EBIT is $1.70 billion and EPS is $12.21. This is the break-even point – if EBIT is above this point leverage is beneficial. If Wrigley’s income was higher than $1.70 billion, they could should take the $3 billion debt. In fact, the current income is only $0.51 billion therefore according to a breakeven EBIT analysis, Wrigley should not pursue the debt. 5.0 Other matters for the board’s consideration 5.1 Effect on Voting Control Assuming the $3billion is used either for a dividend payout or share repurchase, only the second option would alter the amount of shares outstanding. The Wrigley family already controlled 21% of the common stock and 58% of the Class B common stock, which had superior voting rights attached. A $3 billion share repurchase would substantially increase the voting control of the Wrigley family, however the family was already in a majority position so voting control would not be substantially different. A strong controlling majority is highly advantageous in deterring potential mergers and acquisitions. 5.2 Clientele and Signaling effects In general, companies that take on debt signal to investors that the company is in a good financial position as it is able to make future interest repayments. If the debt were used for a dividend payout, this would signal to investors that the company is doing well and increase the stock price. However, using the debt for a share repurchase might have a clientele effect  on potential investors that prefer dividend payouts. These investors could potentially sell their remaining stock in reaction to the share buyback resulting in the stock price falling. 6.0 Conclusion The WACC indicated that taking on $3b of debt would reduce the value of Wrigley company. This value could change, provided the Wrigley company had an investment opportunity or plan to use the newly obtained debt of $3b. The WACC value may be disregarded or adjusted if Wrigley had a high NPV project to invest in or provided a specific use for the funds. However, in the current situation, there is no indication of the reasons for Wrigley to take on the debt and thus they are unnecessarily restricting their financial flexibility. This could prove costly in the future if there are any unexpected negative shocks to the market or Wrigley may miss out on a highly lucrative investment opportunity due to their inability to borrow more. Therefore it is our recommendation that the Wrigley company does not take on the $3b of new debt as it would reduce the total value of the company at this point in time. 7.0 References Armitage, S. (2005). The Cost of Capital: Intermediate Theory. Cambridge, UK: Cambridge University Press. DeAngelo H., & DeAngelo, L., (2006) Capital Structure, Payout Policy, and Financial Flexibility, University of Southern California working paper. DeAngelo, H., & R.W. Masulis. 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