Negligence of Tort Essay Example for Free

Negligence of Tort Essay DEFINITIONS: In common law jurisdictions, tort is a civil wrong although in certain circumstances it is also treated as a criminal case e.g. in cases of assault. It is recognized legally as a basis for an action of a lawsuit. TORT: In common law jurisdictions, tort is a civil wrong although in certain circumstances it is also treated as a criminal case e.g. in cases of assault. It is recognized legally as a basis for an action of a lawsuit. Torts are considered under the law of obligations. Duties imposed under tort law are considered mandatory for all citizens unlike voluntary obligations imposed under contracts. If a person commits a tortuous act, he/ she are legally a Tortfeasor. Tortiuos acts include breach of duties imposed under statutory laws, causing bodily harm to other people, property, or infringing on another’s legal rights.for there to be a case under tort NEGLIGENCE: This is a legal concept that is usually used to acquire compensation for injuries suffered or accidents met. It is a civil wrong actionable under tort law. Negligence involves behaving in a manner that lacks the legality of protecting other people against foreseeable risks. Under common law for there to be a case under negligence then the following elements must be satisfied. * Duty of care * Breach of the duty EXAMPLES: Experience Of Harm Arising From That Breach. Donoghue V. Stevenson A case of tort on negligence is only successful if the following five elements are met. Firstly, a duty of care must be evident. Donoghue v. Stevenson. Given this fact, we also need to know whether the consequences of  the defendants act were reasonably foreseen. In case of the family friendly fishing company and Neil, they are legally liable for the immediate harm caused to June and Gina. Kent v Griffiths In the case of jack versus the Gosford hospital, jack has no legal case against the hospital since the emergency landing that arose was not reasonably foreseen. Topp v London Country Bus Ltd In addition to this, Gina and June have a legal case against the family friendly fishing company since there was legal proximity of relationship through the contract of hiring the boat. Home Office v Dorset Yacht Club June and Gina have action against Neil and the family friendly fishing. This is because the company and Neil are professionals in this field and yet they breached the duty they are entailed to do. Bolam v Friern Barnet Hospital June has no case against Grosford hospital since the process through which she lost her arm is normal since it does happen. In addition, the hospital done the best it could to help her and thus they cannot be accused of negligence. The Mickey family and the Grosford hospital could all sue the family friendly fishing for damages. However in mitigation the company could claim that there were multiple causes for the injuries suffered, Wilsher v Essex AHA On the issue of Gina and June the company could claim that the presence of the rare fish on the new south Wales coast was not a common thing and thus the fish could be a contributory factor for June and Gina’s accident. On the issue of the Grosford hospital, the family friendly fishing could claim that the helicopter taking an emergency landing could have been a contributory factor to factor to Junes loss of her hand. Jack may have a legally binding case against the Grosford hospital. Although this is, the case jack would end up losing at the end. This is because firstly there was no relationship of proximity either legal or  physical between the incidents that triggered his condition. Caparo v Dickman .In addition, the hospital could claim vicarious liability since at the time of the incident the hospital was on an external mission at the request of the family friendly fishing company. Although Neil is liable for June and Gina’s initial accidents he is well protected by law. Although June and Gina have a case against Neil, Neil could claim protection under the vicarious liability clause. The vicarious liability refers to the notion that a person can and do become responsible or liable for other people’s liabilities because there exist a legally acceptable relationship. Such relationships might include parent-child relationship, or an employer-employee relationship. In this case, the family friendly fishing could be held liable for Neils liabilities since they are the employers. Between the concerned parties, the most liable party is the family friendly fishing company. This is because all the parties concerned in the melee can all sue the family friendly fishing company. This is because the company’s negligent actions are the reason why each involved party is at a loss. The company should prepare itself for lawsuit and the family friendly fishing company should brace itself, to be legally prepared to pay special damages, general damages as well as punitive damages. On top of this, the company should also be prepared for the courts to issue an injunction against them if it is deemed necessary. CONCLUSION: The five elements of negligence should be recognizable under tort law. However, as professor Robertson of Texas University has noted the five elements needs to be kept separate, this is because in practice there arises lots of conceptual mistakes or confusions. The use of vicarious liability as a defense against a case of law on tort of negligence has widely been disputed over its rationale. Many scholars have argued that the use of vicarious liability is only intended to find legally  a more solvent defendant. In a legal perspective, the family friendly fishing company is supposed to pay special and general damages to Gina and June. This is because the company has caused the two irreparable damage because of its own negligent activities. Damages awarded are usually compensatory but not punitive in nature. For the sake of the family friendly fishing company, the damages it would have to pay would most probably include a punitive element. The punitive element would arise if the employee, Neil would declare that indeed he had asked the company to change the boats gear, although the company declined. This refusal of the company to use standard tools for profiteering reasons would be termed as an act of maliciousness or acting in an callously indifferent way.

Application Of Supercharging To Si Engines

Application Of Supercharging To Si Engines Enhancements in fuel consumption can be achieved through engine downsizing. However, it is essential to provide a corresponding increase in power in order to improve or maintain vehicle performance. This increase can be obtained through supercharging or turbocharging. Supercharging has the most visual impact of any high performance modification. Supercharging or turbocharging may help achieve engine downsizing that reduces relative value of losses at lower engines loads and vehicle weight, thereby decreasing road fuel consumption of a vehicle. By employing the appropriate motor-management, it is also possible to regulate the necessary full-load speed curve [1]. On the other hand, the danger of knocking or mixing auto-ignition restricts the optimum compression ratio established for the best efficiency. Furthermore, the optimum combination of spark advance and combustion ratio needs to be investigated particularly at low engine speed at which knocking often takes part. The driving power demand of a supercharger or the exhaust back pressure exerted by a turbine is likely to compensate for the efficiency benefits from engine downsizing in strong reliance on the system of boost pressure control. In essence, it is important because it allows for the reduction in the engine speed at maximum torque. Thus, such multi-parametric optimization is not generally provided by experiments since the process is too time-consuming and too expensive [2]. The most appropriate way is to simulate a virtual-engine into some basic experiments employed for initial calibration of engine model and eventually for confirming the optimum results by checking the vicinity o f simulation-predicted optimum matching. This simulation offers a useful tool to compare between different boost pressure control factors within rapid or quasi-steady change operation parameters [1]. Toward that end, a supercharger is said to be an air compressor that is extensively used for performing forced induction of an internal combustion engine. Moreover, the higher mass flow-rate The application of supercharging to SI engines offers more oxygen for supporting combustion than the naturally-aspirated engine that lets more amount of fuel to be supplied and more work to be performed per cycle, thereby increasing the overall power output of the engine. In essence, a supercharger is powered mechanically by a gear, belt, chain or shaft attached to the engineà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s crankshaft. A Supercharger can also be powered by an exhaust gas turbine. Furthermore, a turbine-driven supercharger is termed as a turbosupercharger or a turbocharger. And the term supercharging relates to any pump that is driven directly by the engine, as against turbochargers that are driven by the pressure exerted by the exhaust gases [1]. 2. Types of superchargers with respect to the method of compression: Dynamic compressors: Dynamic compressors depend on accelerating the air to high speed and then interchanging that velocity for pressure by slowing down or diffusing. Main types of dynamic compressors are Centrifugal, pressure wave supercharger and multi-stage axial à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬flow. 2.2 Positive displacement: Positive displacement pumps are responsible for delivering a nearly-fixed volume of air per revolution at all speeds. The device separates the air mechanically into distinct parcels to deliver it to the engine mechanically moving the air into the engine gradually. Main kinds of positive-displacement pumps are roots, sliding vane, Wankel engine, scroll-type supercharger, piston, and Lysholm screw [3]. Positive displacement pumps are again categorized into internal and external compression types. Moreover, roots superchargers are mainly external compression only. External compression is for pumps that transfer air at enclosed pressure into the engine. If the engine runs under boost conditions, the pressure at the intake manifold is greater than the one coming from the The application of supercharging to SI engines This results in a backflow originating from the engine into the supercharger until both reach equilibrium. And this backflow actually causes compression of the incoming gas [4]. Internal compression on the other hand refers to the compression of air inside the supercharger itself, which is already at boost level, can be transmitted smoothly to the engine without any backflow occurring. Internal compression is much more efficient and effective than backflow compression and allows for greater efficiency to be obtained. Furthermore, internal compression pumps usually employ a fixed internal compression ratio. That is, when the boost pressure equals the compression pressure in the supercharger, the backflow becomes zero. However, if the boost pressure becomes higher than that compression pressure, backflow may still occur similar to the roots blower [4]. 3. Supercharger drive types: Superchargers are also defined according to their method of drive, i.e. whether turbine or mechanical. 3.1 Exhaust gas turbines: Radial turbine. Axial turbine. 3.2 Mechanical: Belts (Flat belt, V-belt, Synchronous belt). Gear drive. Direct drive. Chain drive. The application of supercharging to SI engines Practical mechanical supercharging pumps are classified into: Sliding vane compressors. Centrifugal compressors. Rotary compressors. Sliding vane compressors and Rotary compressors are the positive displacement compressors. Centrifugal compressors are aerodynamic compressors [5]. Sliding vane compressors consist of deep slots that are cut into the rotor in order to accommodate thin vanes that are free to move radially. The rotor is placed eccentrically in the entire housing. With every rotation of the rotor, the centrifugal forces exerted on the vanes drive them outward against the housing, and divide the crescent-shape space into various compartments. Furthermore, ambient or enclosed air is drawn through the intake port into every compartment with the volume increasing to reach its maximum. Then, the trapped air is compressed whenever the compartment volume reduces, and is further discharged through the outlet port. Moreover, the flow capacity of the sliding vane compressor relies on the maximum induction volume that is determined by the bore of the housing cylinder, rotor length and diameter, number of vanes, eccentricity, and the dimensions of the intake and outlet ports. Also, the actual pressure and flow rate rise at constant speed will decrease due to l eakage, the heat transfer from the vanes and rotors in motion and the stator surfaces will decrease compression efficiency except when cooling is used for removing the thermal energy produced by friction at the vanes, the rotor and the stator [5]. The roots blower is an alternative positive displacement supercharger. It consists of two rotors connected by gears. The working of roots blower follows transmission of air trapped in the recesses between the rotor lobes and the main housing, towards the delivery port without any The application of supercharging to SI engines substantial change in volume. When these recesses open to the delivery ports, as the suction side is closed, the trapped air is compressed by the backflow generated at the higher-pressure delivery line. This sporadic and abrupt delivery generates non-uniform torque on rotor as well as pressure pulses at the delivery line. Moreover, the volumetric efficiency relies on the rotor length, rotational speed, pressure ratio and the running clearances [3]. A performance map of a distinctive small roots blower is demonstrated in Figure [1]. It is almost same as that of the sliding vane compressor. Figure [1]: A performance map of a distinctive small roots blower [3]. Furthermore, the flow rate is dependent on increasing pressure ratio, at constant speed, only via the resulting decrease in volumetric efficiency. In essence, screw compressor need to be precision machines to obtain close tolerance between stationary and rotating elements for acceptable operation. Moreover, they operate at speeds ranging from 3000 rev/min to 30,000 rev/min. Generally, it is essential to cool the rotors internally, and high values of isentropic and volumetric efficiency are claimed [6]. The application of supercharging to SI engines A centrifugal compressor is mainly used to boost inlet air or the mixture density that is coupled with an exhaust-driven turbine within a turbocharger. This compressor is single-stage radial flow device, most suitable for the high mass flow rates at the comparatively low pressure ratios needed by the engine. In order to operate effectively, it should rotate at high angular speed. Therefore, it is better suited to direct coupling to the exhaust-driven turbine of the turbocharger rather than to mechanical coupling via a gearbox to the engine for mechanical supercharging. Essentially, the centrifugal compressor comprises of a stationary inlet casing, a stationary diffuser, a rotating bladed impellor, as well as a volute or collector for bringing the compressed air leaving the diffuser to the engine inlet system [6]. 4. Turbines: The turbocharger turbine is motored by the energy produced at the engine exhaust. The ideal energy consists of the blowdown work transfer generated by expansion of the gas within the cylinder at exhaust valve opening to atmospheric pressure and the work done by the piston that displaces the gases remaining in the cylinder after the blowdown occurs [1]. 5. Supercharging vs. Turbocharging: Similar to a supercharger, the purpose of a turbocharger is to enhance the mass of air inbound to the engine in order to create more power. A turbocharger, however, differs in that the compressor is driven by a turbine powered by the engines own exhaust gases [5]. Positive displacement superchargers absorb as much as one-third of the total crankshaft power driven from the engine, and is most supplications, are less effective than turbochargers. The application of supercharging to SI engines Significantly, in applications for which engine power and response are more crucial than any other factor, like the top-fuel dragsters, positive displacement superchargers are commonly used. The thermal efficiency or fraction of air/fuel energy converted to output power is less in a mechanically-powered supercharger than in a turbocharger, since turbochargers use energy from the exhaust gases that are normally wasted. As a result, both the economy as well as the power of a turbocharged engine is much better than with superchargers [3].

Foreign Investment In The Philippines Marketing Essay

Foreign Investment In The Philippines Marketing Essay After researching the background of the Philippines economically, politically and socially, our company believes that it is ready to venture our business into the Philippines. What kind of business sector should the company look into that is not only suitable for the local but also profitable to the corporation? In year 2012, Philippines population has reached 103,775,002 and the increasing numbers of population has made the country the 12th largest population in the world today (Central Intelligence Agency, 2012). Due to the increasing population, it has opened up opportunity for foreign companies such as ours to create business investments in the Philippines. There are numbers of industry that our corporation can look into when thinking of doing business in the Philippines, for example the hotel industry. Philippines is well known for their beautiful beaches islands and attractive tourist destination thus tourism is one of the main economy in the Philippines. The spokesperson of Philippines Tourism, Abigail Valte, states that tourism has contributed US$12.83billion for the country and it has not only helps the economics of citizens of Philippines but it also contributes to their improved standard of living (Eturbonews, 2012). Besides the hotel industry, it is recommended that our company looks at stepping into the food and beverage industry. This is because eating good food has become one of the Filipinos habits. An average person will consume three heavy meals in a day but an average Pinoy can actually eat about 7 to 8 heavy meals which consists of the normal breakfast, snacks, lunch and dinner and additional of three meals which are merienda, pica-pica, pulutan. (Matthew Sutherland, 2010). Not only that, their love of food is proven when 0.8 out of 1 of their advertisements talks about food whether you are in a bus or cab, and advertisements on television channels also will include food (Panda B, 2011). Lastly, venturing into the fashion retail industry in the Philippines can be another option. Retailing has been one of the major contributors in job offering to the locals as well as one of the reasons behind of the success of the Philippines economy. According to The Philippine Retailers Association, retailing has contributed 15 percent of their gross national product (The Philippine Retailers Association, 2012). Other than that, Americans and the Spanish have exposed Filipinos to Western culture since the colonization. In addition, pinoys always wanted to look for new gadgets and clothes that are in the current market. Moreover, because of globalization and the use of the Internet, famous clothing brands such as Zara is successful within the Philippines. Retail Clothing Industry Our company should also consider venturing into the retail fashion and clothing industry in the Philippines. Retail clothing or apparel refers to the sales of products such as menswear, womens wear, and childrens clothes to consumers usually from a physical store in an area. The retail industry has seen tremendous growth over the past several years in the Philippines. According to the Philippine Retailers Association (2012), the retail industry contributes about 15% to the total gross national product (GNP) of Philippines. Furthermore, the retail sector creates employment for approximately 5.25 million people, equivalent to 18% of the labor force in the Philippines. Retail industry constitutes 33% to the Philippine service sector (Philippine Retailers Association, 2012). Therefore, it is possible for our company to benefit from the retail sector in the Philippines. The growth potential in the retail sector for our company is relatively positive. In 2010, Business Monitor International (BMI) reported in the Q111 BMI Philippines Retail Report that retail sales were forecasted to grow from PHP1.40 trillion (US$31.42 billion)  in 2011 to PHP1.65 trillion (US$37.06 billion)  by 2014 (Business Monitor International, 2010). This is due to consumer spending and the increasing level of income. Furthermore, an increase in dual-income families and young professionals can also potentially enhance retail sales. In recent years, in order to attract foreign investment and maintain global competitiveness, the Philippine government has also opened up its retail sector to foreign companies. In 2000, this is done through the Republic Act 8762, which is also known as the Retail Trade Liberalization Act. Section 2 of the Retail Trade Liberalization Act states that it is the policy of the State to promote consumer welfare in attracting promoting and welcoming productive investment that will bring down price for the Filipino consumer, create more jobs, promote tourism, assist small manufacturers, stimulate economic growth and enable Philippine goods and services to become globally competitive through the liberalization of the retail trade sector. Pursuant to this policy, the Philippine retail industry is hereby liberalized to encourage Filipino and competitive retail trade sector in the interest of empower the Filipino consumer through lower prices, higher quality goods, better services and wider cho ices (Republic Act 8762, 2000). This gives our company the opportunity to benefit from the incentives provided by this trade liberalization act when we venture into the clothing and fashion stores in the Philippines. As fashion and clothing lines generally targeted towards the young adult demographic, Philippines growing younger population play an important role in retail consumption. Based on UN data, Filipinos between the ages of 20 to 44 has been forecasted to increase to about 39% by 2015, 63% of the population will be economically active in 2015 and 70% of the population will be located in urban areas (Business Monitor International, 2010). The Philippines also has a thriving fashion industry and the citizens are fashion conscious, especially in the metropolitan areas such as Manila and other major cities. Every season, the Philippine Fashion Week is hosted to display designs from top brands around the world and local Philippine designers as well. In order for this firm to venture into the fashion business in the Philippines, the firm would need a platform in which to create exposure for the product and the Philippine Fashion Week can be an ideal place to start building brand recognition for our firm. Moreover, our company can also take advantage of the local talent pool and hire Filipino design experts with superior knowledge of the fashion industry in the Philippines. Entry Mode There are several ways that our company can enter the retail clothing industry in the Philippines. There are many ways to sell and distribute clothing in this todays world. Some retailers market and sell their clothes and products online, shipping directly to the consumer. Others open a physical boutique or retail outlet in locations such as shopping malls, flea markets, and so on. We suggest the company to look into establishing its own clothing brand or committing to a joint venture by procuring a stake in an existing brand of clothing in the Philippines. These two methods of entering the retail market have its own benefits and drawbacks to our company. Our company can look into building its own brand by producing and selling its own garments in retail outlets in the Philippines. As a foreign brand, the Philippines is an ideal market to establish the companys foothold as a retail clothing brand because Filipinos are receptive to foreign clothing brands such as Zara, Topshop and Gap. The younger urban Philippine citizens often purchase foreign brands; therefore, our company should look into setting up its new branch in a major city such as Manila before expanding the business to other parts of the country. Furthermore, our company can also set up an online platform in order to reach customers in the broader Philippine region as well. Setting up an entire new clothing brand can be challenging for our company as well as costly. However, our company should look into reducing production costs by manufacturing within the Philippines to reduce cost of transporting or lower manufacturing costs by outsourcing the production to a country with cheaper labor. The United States Department of Labor (2011) found that the hourly compensation costs in manufacturing in 2010 in the Philippines is $1.90, which is the lowest among all the countries compared in its study including Mexico, Taiwan and Brazil and others. On the other hand, our company can look into creating a joint venture with a local brand or a local designer. The Philippines has many talented local fashion designers that may not have the resources to manufacture and sell their clothing. Our company can provide the funds necessary for these designers to create a clothing line to sell to consumers. In this sense, our company saves cost in conducting market research, hiring new personnel to observe the industry trends and hiring designers to come up with new clothing because the designers are equipped with the knowledge of the fashion industry in the Philippines and are better versed in the fashion industry. This option is less risky than Greenfield venture because the company has limited liability should the venture fail. The company will only have fewer losses from the capital provided to the designer as compared to capital losses from creating an entire new brand from scratch. Food and Beverage Industry There are a few business sectors that our company could consider venturing in the Philippines. One of it is the Food Beverage (FB) industry. FB is an industry that specializes in the making of, conceptualization, and delivery of foods. The biggest sector in FB employees are in restaurants and bars, which includes hotels, resorts, and casinos. Based on statistics by the Department of Primary Industries (DPI) in Victoria (2009), Philippines is one of the worlds youngest population and fastest growing populations, which is 96 million and 65% of its people below 30 years of age. The difference between the rich and poor is large with 30% of them living below the poverty line. This wide gulf results in very contrasting food consumptions trends in the Philippines. In general, locally produced products are consumed and low-medium priced imported products are consumed by traditional markets whereas medium-high priced imported products are mainly found in five star hotel restaurants and foreign owned supermarkets in major urban centres such as Manila. The majority of food consumed by the Filipinos are mainly manufactured by local companies such as San Miguel and RFM Corporation, which produces all major food sectors, such as processed meat products, processed fruit and vegetables products, dairy products and snacks. These manufactured food plus with fresh meat, fruits and vegetables are the typical food for the low-middle class Filipinos, who are the dominant consumer in the Philippines. However, middle-high income earners are demanding for non-traditional and imported foods that are ready-to-eat and in turn for a modernization in the food-retailing sector. This is a good opportunity for our company to venture in the Philippines by exporting our local goods to meet their demands. According to a company that organizes trade expositions (2012), this year itself the foods and beverages industry is expected to grow around 5% to 10%, stimulated by the demand of healthier foods and beverages. As said by Mildred Caballero (2012), president of Tradecon, Right now, there is more focus on health food and health-related products. Now, when people buy food, they look for health benefits. That is the strength of the industry right now, in an interview at the fifth annual Philippines International Food and Beverage Expo. Other factors that influence and shape the countrys demand for food and beverage products are the Filipinos food-oriented culture that stresses on frequent snacking, the youth oriented food market (35% of the population is below 15 years old), the increasing workforce participation by women and dual income households, which results in greater demand for convenience food that is easy to prepare, and also the western influence on the food and beverage market . Entry Mode As consumers in the Philippines are becoming more health conscious, our company could export our local products and increase the range of their organic products. Although countries like United States and New Zealand are the top exporters of packaged foods to the Philippines, there is still opportunity for our company to provide them with healthier packaged food products such as seafood-based, vegetarian, all natural and organic products. It is also expected that more Filipinos are moving to urban areas due to better job opportunities and demand for easy meal preparation packaged food products will definitely increase. Apart from their traditional Filipino dishes being the majority meal solution, there are still opportunities for our local cuisine as the market slowly evolves to globalization. Despite that, we will have to consider factors like affordability due to limited disposable income of most households. Hotels and Accommodation The other business that is suitable in the Philippines is the hotel and resort business. As we know that, the hotel industry is related to the tourism industry in one country. Anticipating the tourism industry in the country can bring the answer whether to enter the market of hotel industry in that country is a valid decision. The tourism industry of Philippines had kept on building up as visitor arrivals from January to September 2012 had reached an amount of 3,149,985 for a 9.08% topping over last years arrivals of 2,887,715 for the same time of the year. Most markets throughout the mentioned period had showed increasing growth rates. Korea continued as the Philippiness top tourist market with 752,918 arrivals, for 23.90% of the total visitor volume, and displaying an expansion of 9.61%. Korea is followed by the U.S.A., which made up 485,484 or 15.41% of the total visitor arrivals. This market increase 4.01% from the 466,767 visitors registered for the same time last year. In the meantime, Japan supplied 311,008 arrivals for 9.87% share to total visitor volume, increasing the percentage up by 8.52% from 2011. China positioned at the fourth place with 6.25% share of the total visitor volume or total visitor arrivals of 196,926. This market registered total visitor arrivals of 171, 981 versus its double-digit expansion of 14.50% a year ago. Taiwan is positioned at fifth with 171,420 arrivals for a 5.44% share of the total visitor volume. This market expanded by 25.39% from 136,713 arrivals registered last year, therefore, setting the uppermost growth rate amongst the top five markets. After examining the tourism aspect of the Philippines, we also took the business environment of Philippines into consideration. With the lifting of restrictions on the foreign investment law, 100% foreign equity may be approved in all sectors of investment apart from those held in reserve for Filipinos by consent of the Philippine Constitution and existing laws. A foreign corporation has to initially acquire the essential licenses or registrations from the proper government organization. For corporations or partnerships, the required incorporation documents from the Securities and Exchange Commission must be attained. The government of Philippines appreciates the critical role of private sector investments and, thus, pledges to constantly improve the business environment. Foreign investments are inspired to fulfill capital gaps, assist in provide employment, enhance production, and supply a base for the overall growth of the economy.  Investment laws and regulations have therefore been loosened to ease the entry of foreign investments. Entry Mode There are a few form of entry that can be considered in entering the hotel industry in Philippines. The form of entry that is deemed suitable is through merger and acquisition. Mergers and acquisitions  (M A) is a common term used to signify the combining of companies. A merger is the merging of two companies to create a new company, whereas an acquisition is the acquirement of a company by another where no new company is established. (Investopedia, 2012) We have chosen this form of entry with valid reasons. Due to the established market in Philippines, it is appropriate to use this form of entry to enter the market. Using MA also provides a certain advantage that is to minimize the time needed to start the business which includes building a hotel or resort from scratches. The effort of gathering human resources to manage the business is also nullified to the minimum since the basic labor force has already existed and the company only needs to delegate the management sector of the business. Since the hotel industry is a high capital and high risk business, we avoid using the Greenfield form of entry for the risk it imposes. Currency and the International Monetary Policy The currency in Philippines is Peso or officially piso. The currency code or an international abbreviation for Peso is PHP and the symbol of it would be P (a line or a double line in the middle of the capital P). The currency rankings show that the most popular Philippines Peso exchange rate is the PHP to USD rate. Peso is divided into 100 centavos (officially centimo). Currently in November 2012, the U.S. dollar is worth about 41 pesos and the Euro about 52 pesos. Current are coins of 1, 5, 10, and 25 centavos and 1 and 5 pesos, and bank notes of 5, 10, 20, 50, 100, 200, 500 and 1000 pesos. Five and ten peso note is no longer printed, but still legal tender. In 1997, all old Philippine currency was replaced by new banknotes and coins. Notes from before 1997 cannot be used anymore. In December 2010, a new series of banknotes was announced. The old notes will remain valid for at least three more years. New coins have been announced for 2012. The Security Plant Complex of the Bangko Se ntral ng Pilipinas is where the coins and banknotes are made. In 2009, the Bangko Sentral ng Pilipinas announced that has launched a massive redesign for current banknotes and coins to further enhance security features and improve durability. Sources from Bangko Sentral ng Pilipinas, the members of the numismatic committee include Bangko Sentral Deputy Governor Diwa Guinigundo and Dr. Ambeth Ocampo Chairman of the National Historical Institute. The new banknote designs feature famous Filipinos and iconic natural wonders. Philippine national symbols will be depicted on coins. The BSP started releasing the initial batch of new banknotes in December 2010 while new coins will be introduced beginning 2012. Current banknotes will remain legal tender for at least three years exactly in December 2013. Table below is the current exchange rates taken last updated on Tuesday, 6 November 16:00 Currency Code Rate Rate pesos / foreign currency foreign currency / peso US dollar USD 41.251 0.024242 Euro EUR 52.801 0.018939 Japanese yen JPY 0.51463 1.9431 Australian dollar AUD 43.057 0.023225 Brasilian real BRL 20.282 0.049304 Bulgarian lev BGN 26.997 0.037041 Canadian dollar CAD 41.504 0.024094 Chinese yuan renminbi CNY 6.5865 0.15183 Croatian kuna HRK 7.0098 0.14266 Czech koruna CZK 2.0866 0.47925 Danish krone DKK 7.0777 0.14129 Hong Kong dollar HKD 5.3225 0.18788 Hungarian forint HUF 0.18737 5.3370 Indian rupee INR 0.75780 1.3196 Indonesian rupiah IDR 0.0042883 233.20 Israeli New Shekel ILS 10.588 0.094443 Latvian lats LVL 75.831 0.013187 Lithuanian litas LTL 15.292 0.065393 Malaysian ringgit MYR 13.463 0.074277 Mexican peso MXN 3.1699 0.31546 New Romanian leu RON 11.684 0.085586 New Turkish lira TRY 23.218 0.043069 New Zealand dollar NZD 34.173 0.029263 Norwegian krone NOK 7.2113 0.13867 Polish zloty PLN 12.813 0.078048 Pound sterling GBP 65.923 0.015169 Russian rouble RUB 1.3100 0.76335 Singapore dollar SGD 33.715 0.029660 South African rand ZAR 4.7359 0.21115 South Korean won KRW 0.037819 26.442 Swedish krona SEK 6.1596 0.16235 Swiss franc CHF 43.728 0.022869 Thai baht THB 1.3410 0.74569 The Philippines has used the floating exchange rate system for many years. As a result, it was not one of the Asian Tigers that thrived under fixed exchange rates. When the tiger economies moved to the floating exchange rate system, their economies collapsed in what is was called the Asian Financial Crisis in 1997. In recent years, the Philippines have moved away from a strict application of the floating exchange rate system (Central Banks description of policy). Philippine banks are allowed to purchase foreign currency for their own accounts, following the Central Banks guidelines. These guidelines require depository banks to maintain 100% cover for their foreign currency liabilities (except for US dollar denominated repurchase agreements with the Central Bank- Section 73). In addition, the Central Bank admits that it intervenes in the market to stabilize the currency and ensure the competitiveness of Philippine products. From the official foreign reserves, the Philippines now build up official foreign reserves and since 2003 has had current account surpluses. Its foreign investments have increased from the equivalent of 2.6 months imports in 1995 to the equivalent of more than 9 months imports in 2009. It appears to be stabilizing the exchange rate and raising its foreign reserves. This movement away from the strict application of Friedmans floating exchange rate system is injecting new money into the Philippine economy, thereby stimulating economic growth, which reached 8% in real terms in 2007. At the same time, it is improving the external balance of payments position of its economy. In addition, it is contributing to the economic growth of the Philippines. The graph below shows the growth imports and exports in the Philippines. The global financial crisis has reduced exports in 2008 and 2009 and reduced imports in 2009. http://www.buoyanteconomies.com/Philip1.gif Exports and Imports in current dollar terms (source Central Bank of the Philippines) Even so, further reform to monetary policy of the Philippines could see that economy grow more rapidly to utilize the existing high level of unemployed resources while maintaining balance of payments stability.

Hard Times-Charles Dickens Essay -- GCSE English Literature Coursework

Hard Times-Charles Dickens In â€Å"Hard Times† there is a teacher called Mr Gradgrind, Mr Gradgrind set up a school As a charity. Although this makes him sound like a kind man he is quite the opposite. He is very harsh and cruel man. I know this because of how he treats one of the members of his school. Her name is Sissy Jupe. One day Mr Gradgrind said â€Å"girl number 20, who is that girl. Sissy stood up and said â€Å"me sir†. Mr Gradgrind asked her name, when she replied he said â€Å"sissy is not a name and your father should not call you it!† then Mr Gradgrind asked her fathers job and Sissy told him that he looked after the horses in the circus. Mr Gradgrind said, â€Å"right then, define a horse!† Sissy could not do this. Then he asked one of the boys to do this and straight away all of the boys put their hands up in the air. Mr Gradgrind chose one called Bitzer, he defines a horse very well with great detail. Bitzer only knew this because he had committed it to memory by chanting it, he didn’t know what it all meant. I think this was unfair because Mr Gradgrind was favouring the boys over the girls and he was being practically unfair to Sissy. Mr Gradgrind has no feeling of love for anyone, he doesn’t even know the meaning of love of feeling because it is not a â€Å"fact†. After this Mr Gradgrind was on his way home walking through the streets and he came across the circus, of course he did not believe in the circus because it was entertainment. He looked around and saw his son Tom and his daughter Louisa watching the circus performers. Straight away he went over to them and told them to get home immediately. Mr Gradgrind walked them home and in to the living room. In the room already were Mr Bounderby and Mrs Gradgrind. Mr Bounderby is a man who has a lot of self-confidence and is always boasting about how he used to be poor and live in the gutters and now he is rich and lives in a rich house. Mrs Gradgrind was ill and just like Mr Gradgrind. She stayed at home all day and lay down. Mr Gradgrind told Mr Bounderby and Mrs Gradgrind what tom and Louisa have been doing. They were both ashamed of them and asked them why they were there, they replied that they liked the entertainment. Mr Gradgrind told them to go to the study. Tom went to the study and as Louisa was walking down the stairs Mr Bounderby approached her. He said that he will sort it out with Mr Gradg... ...e talking and Louisa was very angry with him because he hadn’t thought her the meaning of love. This changed him and made him realise that there is another side of life, this was love. Bitzer came running into the house saying that they have been robbed! All of the money has been taken out of the safe. Immediately for some reason they all assume that it was Stephen Blackpool. Mr Bounderby told the police and they sent out a search for him. Mr Gradgrind went over to Tom and said â€Å"it was you, it was you that took the money wasn’t it.† Now Mr Gradgrind knows that it was Tom he took him to the circus to hide him. Mr Sleary dressed Tom up in a clown costume. He did this to give him a disguise in case of anyone finding out that it was him. Bitzer came in to the tent and said â€Å"come with me Tom, I know that you did it all along.† Bitzer led Tom out of the tent walking him towards Coketown. I have learned al lot from this book, things like the meaning of love. I found it a challenging book because a lot of the words were meant to have two meanings. I have seen the two ways of life, rich and poor. I have also seen the different ways that people understand things.

Beowulf: Fierce and Compassionate Warrior :: Epic of Beowulf Essays

The epic Beowulf is one of the oldest poems written in English. According to the Norton Anthology, "the poem was composed more the twelve hundred years ago, in the first half of the eight century. Its author may have been a native of what was Mercia, the Midlands of England today, although the late tenth-century manuscript , which alone preserves the poem, originated in the south in the kingdom of the West Saxons" (Norton 21). Although the poem is of English origin, it speaks of tribes (the Danes and the Geats) that are from the "Danish island of Zealand and southern Sweden respectively" (Norton 22). The main character, Beowulf, demonstrates that he is a warrior who places heroism and bravery over his own well-being and life. Beowulf is a hero and an example of a great warrior. His actions give us a good example of the pagan warrior mentality. The pagan society is a warrior society, in which courage and bravery are extremely prevalent. Beowulf fights against monsters and dragons, and he would rather die in battle, then anywhere else. Beowulf is called upon to help defeat Grendel, who is a monster that has taken over the hall of Heorot. He is greeted with great hospitality. Hrothgar, the King of Denmark, is relived to see Beowulf. There is some skepticism by Unferth, who recalls a fight in which Beowulf lost in Battle. Unferth is wrong, and Beowulf says this great line: "fate often saves an undoomed man when his courage is good." Beowulf defeats Grendel with great ease and the people of the hall are gracious to Beowulf. With all his great achievements, he becomes king of his homeland (Geatland). Even in his old age, he still has an obligation to fight against the evils of nature. Beowulf hears about a dragon who has become extremely upset because a thief stole a cup from a treasure which he had been guarding for several years. When Beowulf asks for volunteers to fight against the dragon, all but one of Beowulf's followers run into the forest in fear. The one who stays with Beowulf, is a young warrior named Wiglaf.

Discussion and Analysis Essay

Construct a good, solid essay of at least 3 full pages which answers one of the prompts below. In addition to consulting your lecture notes and textbook, you may find it helpful to consult the New Cambridge Medieval History, Vol. I, which may be found in the Walsh Library Reference Room, call number D117. N48. Essays will be graded on content (clarity and coherence) as well as mechanics (grammar and spelling). Late papers will be significantly penalized and any paper later than 24 hours will NOT be accepted. Drafts of papers are to be submitted as hard (printed) copies to both  your editing partner and me. Final versions of papers are to be submitted as hard (printed) copies to me; you will also  include  the marked-up version of your draft. All papers must have 1† margins, be double spaced, and in Times New Roman or Garamond, size 10-12 font. Do not double-space your initial, first page heading. In supporting your observations, you will certainly need to point to specifics in the texts. However, you should not rely on direct quotations and should use them very sparingly. You may not use any quote lengthier than two sentences. No block quotations. Any essay that consists of more than one-quarter direct quotations will receive a D. You should learn how to sum up examples in your own words, but be aware that changing only a few words of someone else is still considered plagiarism. Any time you use a direct quotation or paraphrase something, you need to cite the material. This includes anything from the Chronicle text. For this second essay, your goal is to analytically read primary source materials. As you read and begin to formulate your essay, consider some of the following questions: who is this author? Why are they writing? What is the obvious, surface purpose of this document? Is there a purpose or conclusion that the author reaches which is not so obvious? What fundamental assumptions does the author have about his subject material? How do these assumptions influence or appear in the work, either explicitly or implicitly? How do the attitudes or perceptions of the subject matter change or evolve over time? How does the historical context of each author influence his approach and treatment of his subject matter? These questions should be only the beginning of your inquiry and you certainly are not restricted to them. Use them to formulate your own questions, and then use those questions to help you structure your essay. Often the best essays are built around thesis questions, not thesis statements. Primary source excerpts can be found in your Rosenwein reader or online at the Fordham Medieval Sourcebook and google books. This is a 3 page paper; obviously you cannot use all the sources, however what you choose should make sense for your thesis. The Crusades Tactic I Using the documents listed below, explore what motivated people to go on crusade to the Holy Land in the middle ages. Did their experiences match their expectations? Were they fulfilled, disappointed? How important was morale and how was it kept up? Address strengths and weaknesses of the source material and be sure to make connections between the sources. Tactic II Using the documents listed below, explore what we can learn about memory and different groups’ interpretation of events. Address strengths and weaknesses of the source material and be sure to make connections between the sources.

Literature Review on Marriage

In the study of literature it is very important that you know exactly what you are reading and that you completely understand the meaning behind the stories, poems, or plays. When reading the stories you must fully be able to apply many different analogical structures and also different literature theories to them. When reading the stories about lovers and marriage that are going to be listed in my final paper here, you can truly see how they give many great examples of all the things you need to make literature studies work. In choosing the following stories I have decided that they are the closest things related to my personal life. The Story of an Hour†, â€Å"The Necklace†, and â€Å"The Proposal†. I do believe that these are wonderful works of literature and that they can be fully understood and just work with any person that is open to reading different literature pieces. I do believe that if you are willing to sit down and take the time to read these storie s that you will see just how wonderful life with someone can truly be. The way that you need to approach literature is as followed,† The first objection might take this form, in which the reader is imagined to think that this study has not gone far enough.Such readers will have agreed that the theories of literature offered (implicitly or explicitly) by the institutionalist critics discussed above are inadequate in differing but central aspects. They will agree that the dialogue which takes place between the work and its writer and readers as it develops is as important as that which takes place between the work and its origins in philosophical, psychological, and historical causation. They will agree, in short, that works of literature are capable of resisting and transforming institutional contamination as well as succumbing to it. Cited Lansdown, R. Autonomy of Literature : Institutionalism and Its Discontents. (2001) I think that the above is a great way to start when you are beginning to approach literature rather reading it or studying it as well. I believe that it is also important to really do the following as well. When you are reading â€Å"The Story of An Hour† you need to be able to understand that you are reading a story about a woman who experiences a lot of different emotions and experiences a great life trauma.Once you are capable of understanding this reading then you will be able to understand that this is a strong story about trying to understand the great things that can change your life in a few moments on any given day. When I was reading this story, I did find myself being able to relate to it. That may be because I have a heart condition my own self and it was easier to understand that meaning in the story line. For myself in reading this I found that I was using the reader response. I have always been the type of person that has tried to read a story and express my emotions to it by trying to understand and relate to what I am reading.You have to try to use a reader response whenever you are reading a new story or poem. You need to be able to understand the meanings in a story in order to fully either appreciate it or feel nothing towards the story or poem. I however can not see how you would get no feeling what so ever from reading â€Å"The Story of An Hour†, because it is very emotional, heartfelt, and warm. When reading the story you can see how the story is unfolding and leading up to a wonderful ending, even if it very sad at the end as well. When reading any story though you need to be aware of how you can understand any type of story.This is a story that is going to involve you needing to use many different resources in order to fully understand that the writer is trying to use a great expression as to how the lady died in the aftermath of her husband was also found to be dead from a railroad accident. According to the story here you can understand just how the lady probably felt as sh e was leading up to her own death, while her sister and her husband’s friend were waiting outside the door for her to calm down from receiving bad news on her husband.As far as being able to relate this story to what the author wrote the story about, you can truly see that she was also a heartfelt woman who probably did miss her husband deeply after he died, and had wished that she could have died with him, instead of having to continue on with her life as well. You can understand from the reading that you are going to need to understand a little bit about the author’s life in general to truly enjoy the story for what it is about. If you are going to read a story like this then you are going to want to use the reader-response, formalist, or biographical/ historical approach.The two that make this story easy for me to use and understand has been the reader-response that I have tried to describe in the upper half of the paper. Also the formalist approach works well for m e in this paper because the plot to the story is very memorable and stands out very well. It is very suprising to see that you are reading about a woman finding out that her husband was involved in a railroad accident, yet also turns out that she doesn’t live through the news about him as well either even though he was supposed to not be dead in the end.The language the author used to write this story keeps you involved in reading it to the end because of how she is about describing the setting of the lady’s death within the moments leading up to her last breathe. You can understand everything clearly and nothing is expressed in the writing that turns you off from it. You can relate to the characters very easily and see yourself as being one of them in the story line. The point of view is very well wrote out in the first person from what I can understand and believe as the lady is the one describing how she could feel all this things happening to her from the way that she felt them.Overall this is a very wrote out story and you can also use the biographical/historical approach because of the author having lost her husband at a young age as well. You can see how all of that would affect her and make her not want to continue on with her life raising her children alone as well. In reading the necklace you can also see how the husband really loved his wife and would do anything for her. As he was not a rich man but knew of how she longed to go out and feel the life style of the rich.I know that the husband in the story was all about making sure that his wife was able to go out and enjoy herself at a very high price. You can see how the woman in the story is wanting to make sure she has the proper dress and jewelry to wear on the night of the big party. It is about being able to love the life that you are leading and know that no one can make you feel like you do not deserve happiness either. You have to just be thankful for all that you are given and not wish for more because things can always get worse than they are.The Necklace is about being able to understand this from a third person setting. The narrator is the person telling the story from his point of view here and you can see that this is a wonderful way to get to read this because then you can understand how the wife and the husband feel about the wife losing the necklace. It is always important that you be able to see the two sides to a story like this because then you can understand how the man is feeling about having to give up his money for his wife to be able to go out and enjoy herself like she always wants.Then on the other side you can see how the woman must feel about the dress, necklace, and about losing a not so expensive piece of jewelry as well. As well as this is a story about being able to use a reader approach to be able to understand that this story is going to make you feel a certain way in the end. It is important for me to say that I used the reader approach because of the fact that I feel like I really could relate to the lady in the story as well. I want to always know what it would feel like to be a rich woman for just a short time but I do understand that it could not turn out as well as I would like it to either.It is about the story catching your heart and making it break for the couple within it. You want to be able to help this lady who believes that it was important to feel wonderful for just a few hours when finding out that she is responsible for losing what she believes is an important expensive piece of jewelry that she was allowed to borrow. You are wanting to be able to help this woman and man earn the money to pay for the necklace so that they can return to being able to enjoy life’s simply things.In the story of â€Å"The Necklace† it is a story that is based more so on characters and the setting that they are trying to become involved in as well. You want to be able to understand how important t he setting is because it is what makes the lady want to be able to experience being rich and famous almost. It is the very thing that has made her poor husband work so hard for just so that he can make sure she gets to go out and enjoy herself in the setting that she has always belonged to in her mind. It is also about being able to see that the husband is very caring and loves his wife deeply.He is willing to have to work all these long hard years just to help her replace a piece of jewelry that gave her the one night that she has always wanted. You can also see how it is very important that you know that the plot of the story is about the necklace but also the lessons that you can learn from wanting more than you have. It is a big thing for the plot to be about the party because it is what makes the lady so desperate to be a part of and want to borrow what she believes is a very rich piece of jewelry.I do believe that you need to understand that the necklace is just a prop in the story line about the lady that is going to end up having to spend all of their extra money that they earn in order to replace this item that she has borrowed from her friend. No matter rather you can understand that the necklace is just a piece of jewelry for her to wear that makes her feel important or not you can also see how it is important for the lady to learn that not everything is what it appears to be in life either. This is a big lesson that many people need to be able to nderstand so that they will learn to be happy and not take things for granted like she did within this piece of literature. In the story that is called,†The Proposal† you can see how this is a play about the proposal of marriage to a woman who is just not fully accepting of the man wanting to marry her at first. It is very odd that the lady would want to argue over who owns what land and who does not. However at the same time the lady is madly in love with the man that is wanting to marry her b ut yet she is really not wanting to agree with him that he owns more land than her family does.It is just funny to read about how the two people begin to feel ill over the argument about the land that their families own once they realize how much they love each other and want to be together no matter what happens. This is a story about a man and woman loving each other and not wanting to set for just anyone or anything. This is going to be considered a first person themed story because of it being a play and the characters having to act out their own parts without a person to read the story lines to you from their point of view.You can really see how the play is going to express lots of different emotions and show you that things in life are not as important as the people that you love and care about deeply. It is really about the people that you are willing to learn to let things go for and not be worry about what happens in the end of life. You need to be able to see that this is a story about the setting which is apparently on a bunch of land in the woods, so most people would probably consider it to be a country style home.The country style home is the setting in which the man comes to ask the lady for her hand in marriage but must first talk to her father about doing so. In the story you can see how it is important that the man sit and talk to the girl’s father before he talks to her so that you can see how nervous and anxious he really is about asking her to marry him. The father in the story also ends up being the one that lets his daughter know just why the young man is there and arguing with her so much over a piece of land.You can also see how this story is again about the characters that are playing in it. You need to have these characters laid out for you to be able to understand this because of the fact that it is a play. You are going to want to understand that the young man is a very rich land owner and the older man in the story is the f ather to the young lady. The lady is also the one that is going to end up engaged in the end and the one who is arguing very much so over a piece of land that she feels is close to her heart.Overall though it is again about being able to see that the people in a story can make it or break it for most people who are reading and studying literature. You need to be able to feel connected to the stories in many ways and need to be able to understand that the characters are very important pieces to reading literature. You want to feel like you are sitting in the same room as the story is being told or played out in front of you. You want there to be a meaning behind the literature that you are reading or taking in, as to this is what makes literature grand.