The Ucc Essay example - 1263 Words

UCC Crystal Pierce Rasmussen College Author Note This assignment is being submitted on March 17th, 2013, for Rick Barrett’s B491 course at Rasmussen College by Crystal Pierce. UCC It has been a good year and you have decided to put an addition on the side of your house. You hire Bob the Builder to do the job and have a signed contract. You review the plans, make a sizable down payment, and Bob starts demolition. But then after a week, Bob seems to disappear. Several weeks go by, construction has not continued, and Bob cannot be found. The rules governing contracts traditionally came from common law, meaning the law that is produced on an ad hoc basis by courts. When the courts came up against a novel problem, they look at†¦show more content†¦(FindLaw, 2013) Contract is defined as an agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law. For purposes of this chapter, we are concerned with agreements to buy and sell some type of agricultural product. Contracts 101 You should be concerned about contract law because it determines how parties to the contract will need to keep the promises th ey make. Although very few contracts ever end up in court, if the parties to a contract disagree on something and are unable to resolve the disagreement, they may have to resort to the judicial process. This means that as the parties negotiate a contract, they need to consider how a judge might ultimately interpret it. For a contract to be enforceable, it must involve: 1. Competent parties. A court will not uphold a contract entered into by parties the law does not believe have the capacity to take on such a legal responsibility, such as minors or people who are mentally incapacitated. 2. A legal subject matter. A court will not uphold a contract requiring anyone to do something illegal. 3. An offer. An offer occurs when a party communicates the intention of doing something if the other party does another speciï ¬ c thing. Either the buyer or seller can initiate an offer so it could occur when you approach a cranberry cooperative with anShow MoreRelatedUniform Commerical Code (UCC)1005 Words   |  5 PagesIntroduction The UCC refers to the Uniform Commercial Code which originally created in year 1952 by the National Conference of Commissioners on Uniform State Laws and the American Law Institute, which are two national nongovernmental legal organizations (Steingold, 2013). These two private entities recommend that the 50 state governments adopt the UCC; however, it does not become law unless it’s enacted by the state. The UCC is a â€Å"comprehensive statutory scheme which includes laws that cover aspectsRead MoreBranches of Government and UCC1558 Words   |  6 PagesBRANCHES OF GOVERNMENT AND UCC 1.FLOWCHART OF BRANCHES OF GOVERNMENT The government is a single term yet comprised of several different components that collaborate to run the business of the country by making, stating, implementing and ensuring law. The US government has three branches namely legislation, executive and judiciary (Three Branches of Government, 2008). 2. DESIGNATE TWO UCC CLAUSES THAT ALIGN WITH EACH BRANCH The term UCC stands for Uniform Commercial Code that was publishedRead MoreThe Uniform Commercial Code ( Ucc )1329 Words   |  6 PagesThe Uniform Commercial Code (UCC) is just like a whole big book of all the collection of the lawful regulations and acts. They eventually control the trading’s/behavior and negotiations of businesses. It manages the conveys and/or the selling of private property, in other terms personal property. UCC doesn’t state the trading in real property. Well overall, the Uniform Commercial Code institutionalizes business laws within the United States of America. Along with that, it also looks for stabilityRead MoreThe Uniform Commercial Code ( Ucc )1696 Words   |  7 Pagesare mostly judge-made, from court decisions over the years. The Uniform Commercial Code (UCC): The common law does not control contracts that are primarily for the sale of goods. The Uniform Commercial Code (UCC), a standardized collection of guidelines that govern the law of commercial transactions, controls contracts for the sale of goods. Most states have adopted the UCC in whole or in part, making the UCC s provisions part of the state s codified laws pertaining to the sale of goods. The classificationRead MoreThe Uniform Commercial Code ( Ucc )1261 Words   |  6 PagesCommercial Code (UCC) in the private sector and the Federal Acquisition Regulations (FAR) are the documents that govern contract formation in the private verses public sector industry. UCC regulates commercial transactions between merchants, individuals, and across state lines (except Louisiana, where common law prevails). The intent of UCC was to simplify the law, clarify it, modernize, as well as codify uniformity for commercial transactions. The formation of a contract by the UCC is intended toRead MoreThe Uniform Commercial Code ( Ucc )897 Words   |  4 Pagesadults must be of sound mind to consent to a contract. Lastly, writing some types of contracts must be in writing to be enforceable. There are two contract rules for governing the sales of goods and the sale of services. The Uniform Commercial Code (UCC) is the code used for the sales of goods. The sales of services is use common law to govern these contracts. The Uniform Commercial Code was published in 1952 by legal scholars in order to facilitate the easy information and enforcement of contractsRead MoreThe Universal Commercial Code ( Ucc )1345 Words   |  6 PagesIssue #1 The issue is whether the UCC is applies to the alleged offer and acceptance made between Kevin and the department store. Rule The Universal Commercial Code (UCC) governs transactions in goods, which are all things that are tangible and movable at the time of identification to the contract for sale, and the common law governs transactions involving services provided by professionals. When a mixed contract exists involving both goods and services, most courts use the predominate factorRead MoreHow Does The Ucc Apply For Finance Leases?1867 Words   |  8 Pages10. How does the UCC apply to finance leases? Lease financing is a contractual relationship formed between a lessor, lessee and a supplier. The lessor buys goods from the supplier and rents the goods to a lessee who is given the right to possession of the good for a specified amount of time. This turns into a financing situation, since the lessee owes a debt to the lessor for purchasing the goods on behalf of the lessee . The lessor will usually benefit from an interest rate percentage that is collectedRead MoreDelaware s Adopted Version Of The Ucc Defines A Good Essay1979 Words   |  8 PagesDelaware’s adopted version of the UCC defines a good as â€Å"all things which are moveable at the time of identification of the contract for sale† and necessitates said goods to be â€Å"both existing and identified before any interest in them can pass.† 6 Del. C.  §2-105. If these requirements are found to be met â€Å"an action for breach of any contract for sale must be commenced within in 4 years after the cau se of action has accrued.† Further, â€Å"a breach of warranty accrues when tender of delivery is made,Read MoreInteraction of American Laws with International Law962 Words   |  4 PagesUCC and International Law Because the Uniform Commercial Code (UCC) generally regulates commerce or trade on a national basis, one may not realize that it also has an impact on international commerce. However, this assumption would ignore the critical role that American laws and policies play in the arena of international trade. These roles are both formal and informal. In other words, American law has direct and indirect effects on international commerce. In order to understand the impact of

Tccc Business Strategy Free Essays

string(114) " their resources to build a brand that is unique and known on a large scale throughout the world for its quality\." This report is centered on research of The Coca Cola Company (Global) in the carbonated beverage market. Various methods and models of analysis were used in examining the company’s market position and determining its strategic competitive advantage. The Pestel model and Porter’s five forces model was used to identify the company’s opportunities and threats. We will write a custom essay sample on Tccc Business Strategy or any similar topic only for you Order Now The barriers to entry in the carbonated beverage market are really high which means that the threat of other companies successfully entering into the industry is low and this has been a big advantage for the company. Brand loyalty is another. People today in general are becoming increasingly aware of a healthier lifestyle in light of new information regarding nutrition and this has been a major threat to the company and the market in general. The Company’s strategic competitive advantage stems from its three main core competences. The manufacture and distribution system of its beverages (products), branding through marketing campaigns and the innovative nature of the company in its market are all major strengths. One thing special about the company is that it uses its resources in a way unique to its competitors and consumers see value in their product. The Coca Cola Company understands the clout of their stakeholders and they have set their strategic objectives to meet their individual demands. This message has been firmly implanted in the company’s mission statement. Coca cola competes on the basis of value added for customers. People will pay the premium over lesser brands for the coca cola product and this may be why they have chosen (from Porters model) a differentiation strategy. This has paid off for them. Their manufacturing and distribution system has been an effective business level strategy. The Coca Cola Company and its bottlers can work together to determine local responsiveness and produce products that best suit the local tastes in that particular geographical area. Amongst other business level strategies these two would have to be the most effective. The companies structure and systems lend there hands to the successful implementation of their planning. Without which it might not have its position within the carbonated beverage market today. Strategic Analysis External Analysis We looked at the external environment of the carbonated beverage industry using the pestel model and Porter’s five forces model to find the key trends or influences on the industry. People today in general are becoming increasingly aware of a healthier lifestyle in light of new information regarding nutrition. People are trying to eat and drink a lot healthier and as a result there has been an increase in market demand for drinks such as orange juice, water, and other healthier alternatives. This was once a threat to the business of The Coca – Cola Company. Instead they eliminated this threat through product diversification. As you may have seen The Coca – Cola Company has a product from most drink categories. The barriers to entry in the carbonated beverage market are really high which means that the threat of other companies successfully entering into the industry is low. Virgin once tried to enter into the industry with Virgin Cola and was unsuccessful because Coke and Pepsi were already too strong. The Coca Cola Company has already well established brand awareness and distribution channels and the production costs are also substantial in the industry. Creating brand awareness and achieving market acceptance is a very costly procedure, extensive market research needs to be undertaken to understand local tastes and preferences. The Coca Cola Company has arrangements with certain Fountain Outlets (MacDonald’s and Subway) who are contractually obliged to distribute only their drink product. There are many other fountain outlets that have existing contracts with one of the soft drink companies and this makes it harder for new entrants. The large quantity of marketing and propaganda has lead to increased brand loyalty and is a major strength for the Coca Cola Company. It has also lead to the brand Coca Cola being perceived as the premium Cola drink. The dominance of Coca Cola can be seen by the failure of the drink Virgin Cola. Because of the limited size of the market, the growth in market share of one brand will result in the decrease of another. The Coca – Cola Company has used the large amount of resources at their disposal to wage competitive war on PepsiCo and other brands and results have shown that they have come out on top. One of the major strengths of The Coca – Cola Company is its sheer size in the industry because of which it can effectively utilize economies of scale. TCCC concentration is on marketing the brand, new product development, researching future venture opportunities and warding off competition. Their operations take place in a very dynamic environment and therefore innovation is vital to their success. Internal Analysis The company as the leading brand of carbonated beverages has a number of core competencies which it utilizes to give it its strategic competitive advantage (SCA) in the market. The manufacture and distribution of non alcoholic beverages The process of manufacture and distribution of Coca Cola products is unique to the industry. The Coca Cola Company has different bottling partners throughout the globe which manufacture and bottle the final product which the end consumer ultimately receives. The Coca Cola Company produces the concentrates and syrups of the products itself and then sells the rights to manufacture the products to its bottling partners. They do not control the policies and programs of these bottling partners, but they do have mutual self-interests and therefore work together to find common ground and take common action in many areas. Through this system they can effectively devise the appropriate strategy for responding to the needs of the local environment. Branding through marketing campaigns The Coca Cola Company has put a lot of emphasis over the years on creating and maintaining its brand name through large scale marketing campaigns. They have effectively used their resources to build a brand that is unique and known on a large scale throughout the world for its quality. You read "Tccc Business Strategy" in category "Papers" This has led to a brand loyalty factor. Innovation: Product, packaging, equipment and marketing Coca Cola is always bringing out new carbonated beverages. Through the use of its resources and technology, it has led the innovation of new, improved, and different soft drinks around the world. A recent example of this from Coca Cola is â€Å"Jianchi† meaning strong inner energy in Chinese, the drink, made with fruit juices and plant extracts and available in three flavors is inspired by ancient Chinese wisdom to enhance the inner balance. The Coca Cola Company has invented a bottle which is made from a blend of petroleum-based materials and up to 30 percent plant-based materials named the ‘plant bottle’. It is a significant development in sustainable packaging innovation. The new bottle reduces carbon emissions by up to 25 percent, compared with petroleum-based PET, and is 100% recyclable. â€Å"The Coca-Cola Company is the first company to introduce a beverage bottle made with recycled plastic has been focused on ensuring the sustainability of its packaging for decades. It has put resources behind creating packaging that is recyclable and investing in recycling infrastructure to ensure that its packages are collected, recycled and re-used†. The Company has built the world’s largest recycling plant with the ambition of reducing costs and the amount of materials in their packaging through recycling. The packaging being lighter will also reduce the cost of fuel on delivery etc. To increase the market for recycled materials, The Coca Cola Company has also released a line of merchandise which is made from 100% recycled material. Overall the innovation of recycled packaging will reduce costs, prevent waste and maximize value over the life of the product and inadvertently adding value to the Coca Cola brand. Coca Cola won the Gold lion in the point of sale category at the 2009 Cannes lion’s international advertising festival with the â€Å"video vendor† being the latest innovation in vending machines. It is believed to create a uniquely immersive experience for consumers. Strategic Directions; Strategic Objectives Vision The vision of Coca Cola â€Å"specifies what the organization could achieve if it performed perfectly† (Viljoen and Dann, 2003:97) â€Å"To refresh the world, to inspire moments of optimism and happiness and to create value and make a difference† Mission The mission statement of The Coca Cola Company has all the elements a good mission statement should have. It specifies the company’s commitment to their shareholders. Their mission is to: Achieve sustainable quality growth, be a great place to work where people are inspired to be the best they can be, bring the world a portfolio of quality beverage brands that anticipate and satisfy peoples desires and needs, nurture a winning network of customers and suppliers, be a responsible citizen that makes a difference be helping build and support sustainable communities, maximise long term return to s hareholders while being mindful of our overall responsibilities and be a highly effective, lean and fast moving organisation. |Stakeholder |Salience |Stakeholder demands / needs |strategic objective(s) to address | | | |that must be satisfied |stakeholder demands / needs | |   |   |   | | | | | | |Shareholders |Definitive |High dividends growth in share |Growth in profitability | | | |price |Increase in revenue | | | | |Financial stability | | | | |Efficiency | | | | |Research and development | |   |   |   |   | | | | | | |Customers |Dominant |Quality products at lowest price |Social Responsibility | | | |socially and environmentally aware |Product quality and service | | | | |Higher level of customer satisfaction | | | | |than rivals | | | | |Research and development | | | | |Focus on the needs of consumers, | | | | |customers, and franchise partners | | | | |Listen, observe and learn in the market | |   |   |   |   | | | | | | |Employees |Dominan t |All employee benefits satisfied |Employee welfare | | | |Clean and safe working environment |Financial stability | | |Friendly working environment |Be a great place to work where | | | |Job security |people are inspired to be the best | | | | |they can be | |   |   | |   | | | | | | |Community |Dominant |Minimal environmental impact |Social responsibility | | | |Support the community |Be a responsible citizen that makes a | | | | |difference by helping build and support | | | | |sustainable communities | | | | |Support charities and community | | | | |organizations | | | | |Research and Development – | | | | |Environmentally friendly products | | | | |Possess a world view | |   |   |   |   | | | | | | |Suppliers / Bottlers |Dominant |Network and communication |Nurture a winning network of customers | | | |Reliability |and suppliers, to together create mutual | | | |Support |and endearing value | | | | |Research and evelopment | |   |   |   |    | | | | | | |Government |Dormant |Abide by the laws and legislation |Abide by the law | | | |governing each county TCCC has |Be mindful of overall responsibilities | | | |its products | | |   |   |   |   | The strategic objectives of The Coca Cola Company are in alignment with the demands of each of its stakeholders. Its strategic objectives are firmly bound within its mission statement showing their commitment to upholding their responsibilities to meeting the demands of all possible stakeholders. Key Strategies – Current Using Ansoff’s product / market strategies model it can be determined that The Coca Cola Company is pursuing a product development / diversification strategy. This means that their aim is to keep distributing new products into the same existing market as well as look for opportunities in new markets. An example is the release of Jianchi a new product made from fruit juices and plant extracts. Miles and Snow’s adaptive strategies model reveals that the company is in the prospector / defender position in the market. The company is a prospector leading change in the industry through creating new products and identifying new opportunities in the market place. High innovation is key in the prospector business strategy. However it could be said that it is a defender as well in terms of the original coca cola product and its position in the Cola market. They are defending vigorously focusing on high quality and creating barriers to entry. Their position on strategy is characterized by stable growth, profits, efficiency and flexibility in a dynamic environment. Their business structure is flat / loose and authority is decentralized within the organization. The high level of innovation can be seen through the company’s marketing at a functional level with the recent release of the new four and a half minute Music Video released by The Coca Cola Company titled – â€Å"open Happiness† which has taken marketing in the carbonated beverage industry to a new level. Coca cola competes on the basis of value added for customers. People will pay the premium over lesser brands for the coca cola product and this may be why they have chosen (from Porters model) a differentiation strategy. In the past the company has focused cost leadership however this sometimes leads to lowered market entry barriers this has led them to a differentiation strategy and a focus on pervasive penetration, preference and price related value. Due to economies of scale Coca Cola has the opportunity to be a low cost provider and undercut Pepsi’s prices but from what we can see it chooses the differentiation strategy and distributes its products at a premium. A possible reason why they may not have chosen a cost leadership strategy is that it can generally be seen as a weak competitive advantage. Competitors may undercut you and it is easily emulated as well as difficult to sustain over time. In order to differentiate from the conventional Coke product, The Coca Cola Company has produced / innovated other such products as cherry coke, vanilla coke and diet coke and it has undertaken competitive marketing against such companies as PepsiCo and Cadbury / Schweppes to advertise how their products are so different and better in quality. The Coca Cola Company has employed a strategy which closely resembles a multidomestic strategy. A multidomestic strategy is characterized as being â€Å"orientated towards local responsiveness†, establishing â€Å"semiautonomous national units in each country in which it operates to produce and customize products to local markets†. It does this in a unique way in collaboration with its bottling. Together The Coca Cola Company and all its bottlers form one system called The Coca Cola System. The benefit of this strategy is that The Coca Cola Company and its bottlers can work together to determine local responsiveness and produce products that best suit the local tastes in that particular geographical area. We have seen this strategy in action with the introduction of the Coca Cola equivalent of red bull being â€Å"Mother† the energy drink being release certain regions but not others. Strategic Implementation; General Perspective Evidence of unrealized strategy The Coca Cola Company was set for the acquisition of the Huiyuan Juice business in China around March earlier this year, which looked to agree with their product development / diversification and differentiation strategy. Unfortunately the Chinese Ministry of Commerce (MOC) decided to decline approval for the proposed purchase. Coke released a statement saying: â€Å"We will now focus all of our energies and expertise on growing our existing brands and continuing to innovate with new brands, including in the juice segment. † The innovation of one of their newest products – â€Å"Jianchi† came approximately around this time. Apart from minor setbacks such as the failure of the Chinese juice company merger and acquisition, the coca cola company has implemented its strategies of diversification and differentiation well and this can be seen in the popularity of their products and their prosperous position in the carbonated beverage market. Key Strategic Implementation Issues Using the Mckinsey 7’s’ model we found that the three major strategic implementation issues that confront The Coca Cola Company is structure, style and systems. Structure The Coca Cola Company has in the past gone through major restructuring of its organization. It has cut out various levels and moved to a more multi-domestic structure. A couple of years ago they restructured their operations in both North America and internationally. â€Å"Not to save pennies but to simplify decision making and expedite the speed in which we can execute†. To this day they continue to refine their business structure. In June 2009 they integrated three core functions for a new business structure: Global Business Services, Global Information Technology and Transformational productivity. This will allow the company to deliver services that are highly dependent on technology and standardized processes to its business units in a more effective and efficient way. Style Amongst the list of The Coca Cola Company’s seven â€Å"values† includes integrity and accountability. Muhtar Kent the current CEO of the company was caught betting against the company’s stock allegedly based on insider information then claimed not to know that his actions were illegal. This does not constitute good leadership and could however be classified as an implementation issue for the company. The style of leadership a CEO shows can have a massive effect on the shared values or culture of an organization. So far there are no further signs of further situations like the one described above by the CEO and the company is continuing to improve. The signs point towards Muhtar Kent redeeming his reputation in the company. Systems The Coca Cola Company has the largest beverage distribution service in the world. With close to 1. 6 billion servings a day consumed in over 200 countries, The Coca Cola Company has had to develop effective and efficient system to cope with the magnitude of the business. Systems are as important to The Coca Cola Company as they are to any business. The distribution system of their products is unlike any other in the industry. It ties in with their business structure closely resembling a multi-domestic organizational structure. The Coca-Cola Company frequently utilizes promotional merchandise to connect consumers with its brands. It is critical that all such merchandise make a positive impression upon consumers. It is important that they monitor quality control not just for their concentrates and syrups but also on their promotional merchandise. The organization of The Coca Cola Company comprises many systems which enable the company to run smoothly. It takes strong successful systems for a company to survive and they can also give a company its strategic competitive advantage. However they must also be monitored and evaluated. TCCC has a triple bottom line approach to reporting and they utilize the balanced scorecard to achieve this. Evaluation of Strategy – Current / Future Efficient evaluation has been implemented through a triple bottom line reporting approach. They understand due to their large public profile they have to maintain a focus not just on financial reporting but also on their social responsibilities and the environment. The balanced scorecard is used in their financial reports based on key performance indicators to measure their performance in implementing their strategic objectives. The message is therefore communicate to their stakeholders through their general purpose financial reports (GPFR). References Textbooks Hill et al. 2007, Strategic Management: An integrated approach 2ed, Wiley and Sons. Page: 4 – 19, 64 – 72 Internet News Article I’d like to sell the world a Coke http://www. nytimes. com/ref/business/20070527_COKE_GRAPHIC. tml Viewed: 10:52 Monday 31st August The Coca Cola Company Website: Innovation http://www. thecoca-colacompany. com/ourcompany/innovation. html Viewed: 4:59 Monday 31st August The Coca Cola Company Website: The System The Coca Cola logo (used above) is a registered trademark of The Coca Cola Company http://www. thecoca-colacompany. com/ourcompany/the_cocacola_system. html Viewed: 4:59 Monday 31st August Strategic management http://www. docstoc. com/docs/10713752/Strategic-Management Viewed: 4:00 Saturday 10 October 2009 Brand Spotlight: Coca-Cola http://www. brandingstrategyinsider. com/2007/04/brand_spotlight. html Viewed: 6:31 Sunday 11 October 2009 Organization Strategies: Strategies used in Coca Cola http://www. findfreecollegeessays. com/show_essay/47865. html Viewed: 6:40 Sunday 11 October 2009 Open Happiness: Music Video http://www. youtube. com/watch? v=Cxfkg3RaRjsfeature=related Viewed: 4:53 Saturday 10 October 2009 THE COCA-COLA COMPANY INTRODUCES INNOVATIVE BOTTLE MADE FROM RENEWABLE, RECYCLABLE, PLANT-BASED PLASTIC http://www. thecoca-colacompany. com/presscenter/nr_20090514_plantbottle. html Viewed: 10:16 Sunday 11 October 2009 ACQUISITION OF HUIYUAN JUICE GROUP IN CHINA NOT TO PROCEED http://www. thecoca-colacompany. com/presscenter/nr_20090318_huiyan_juice. html Viewed: 11:37 Sunday 11 October 2009 How to cite Tccc Business Strategy, Papers

System of Education in the United Kingdom free essay sample

The quality of a countrys future life, commercially, industrially and intellectually, depends on the quality of its education system. The state in the United Kingdom provides a full range of free schooling. Those parents who prefer to send their children to private educational institutions, are free to do so. There are about 2500 fee-paying, or public schools in the country. State schooling in the UK is not as centralized as in most European countries. Firstly, there is no prescribed curriculum. Secondly, the types of schools available and the age ranges for which they cater vary in different parts of the country. Local Educational Authorities are responsible for education in each area. At any state school no tuition fees are payable. State schooling in the UK is funded by the government and the local rates. Schooling is voluntary under the age of five, and compulsory from 5 to 16. Generally, primary education in the UK takes place in infant schools and junior schools (for ages 8—11); secondary education takes place in secondary schools. We will write a custom essay sample on System of Education in the United Kingdom or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Pupils can stay at school voluntarily for up to three years longer. Until 1964 children took an eleven plus exam at the age of 11 and were streamed according to the results of the exam for education in different types of secondary schools. Grammar schools provided a mainly academic course for the top 20 %, technical schools specialized in technical studies, modern schools provided a general education with a practical bias. In 1965 non-selective comprehensive schools were introduced, though the old system still exists. Having completed a compulsory education, 16 year-olds may start work, remain at school or study at a Further Education college. At schools and colleges they can take the school-leaving General Certificate of Secondary Education (GCSE) exams — in a range of subjects. Other students prefer to pursue work-based training such as General National Vocational Qualifications (GNVQs), which provide skills and knowledge some in vocational areas such as business, engineering, etc. Having completed GCSEs most students usually specialize in three to four subjects leading to General Certificate of Education (GCE) A Levels. Others can take higher grade GNVQs. Many students then move towards higher education training at universities, colleges and institutes offering studies at degree level and higher. The most common degree courses, which usually take three years to complete are the Bachelor of Arts (BA), Bachelor of Science (BSc), Bachelor of Education (BEd), Bachelor of Engineering (BEng) and Bachelor of Laws (LLB). Master degrees for those undertaking further study include the Master of Arts (MA), Master of Science (MSc), Master of Business Administration (MBA) and Master of Laws (LLM). Then there are research-based postgraduate courses leading to the Master of Philosophy (MPhil) and Doctor of Philosophy. These academic qualifications involve thousands of courses at more than 180 higher educational establishments in Britain. The most famous British universities are, of course, Oxford and Cambridge called Oxbridge and famous for their academic excellence.

Television Violence And Children Essay Example For Students

Television Violence And Children Essay Children and TelevisionTelevision affects childrens lives. There are many facts to support this opinion. In the following paragraphs I will prove that TV affects children and their behavior. Also I will talk about things related to this topic. What children watch today affects their lives. Television has a powerful impact on everyone. Many people, even super stars like Madonna feel there children should not watch television. Many of todays youth and family programs include sexually promiscuity, profanity, coarse joking, and anti family plots. Before allowing your children to watch television one must take into consideration what influences TV will have on them and what are the consequences of viewing television. Television has a power against our innocent children. People need to take into consideration religion factors, exploration, and the education of our children. We will write a custom essay on Television Violence And Children specifically for you for only $16.38 $13.9/page Order now The average child watches three hours of television a day. Children who watch violence on TV are most likely to display on aggressive behavior. Young children do know the difference between programs and commercials. Children in the United States spend more time on viewing television than any other activity except sleep. Television sends strong messages to kids about violence, sex, and alcohol. Brutal violence can be found in the news, primetime programming, music videos, and cartoons. Television glorifies sex and alcohol. Television can confuse our children about their values and abuse there up bringing. Many religions like Islam and Pentecostal are more concerned peace, family values, and respect. They do not condemn pre-martial sex, abhorrence, violence and waste, and drugs and alcohol. Unfortunately, TV promotes all of the above. Television can disrupt our childrens education and creativity. Time is taking away from our childrens study. The kids attention span is smaller. Instead of concentrating on their own imagination, they are concentrating on others creativity. Despite all this negativity, television can be very beneficial. Children who watch educational programs have better math and verbal skills. High quality programs can provide our children with a well rounded education like history, science, humanities, religion, the environment, and much more. Children need experiences that stimulate and integrate their senses of sight, hearing, taste, smell and touch. Their senses need to be protected from over stimulation, since young children are literally sponges. Children absorb all they see, hear, smell, taste, and touch from their environment since they havent developed the brain capacity to discriminate or filter out unpleasant or noxious sense experience. Our thought brain, the neocortex, represents our hi ghest and newest form of intellect. It receives extensive input from the core (action) brain and limbic (feeling) brain and has the potential of separating itself and being the most objective part of the brain. It connects us to our higher self. The neocortex needs more time to process the images from the action and feeling brains. It is also the part of the brain that has the most potential for the future, and it is the place where our experiences, recollections, feelings, and thinking skills all combine to shape our ideas and actions (Everett 1997Pg.105).The thinking brain is 5 times larger than the other brains combined and provides intellect, creativity thinking, computing and, if developed, sympathy, empathy, compassion and love (Pearce 1992 pg.50)By age 4, both the core and limbic brains are 80% myelinated. After age 6-7 the brains attention is shifted to the neocortex with myelination beginning first on the right side or hemisphere and later joined by the left hemisphere. The right hemisphere is the more intuitive side of the brain, and it particularly responds to visual images. It grasp wholes, shapes, and patterns and focuses on the big picture rather then the details. It directs drawing and painting and monitors Melodies and harmonies of music. It is especially responsive to novelty and color and is the dominant hemisphere when watching TV. (Healy, 1990, Everett 1997 pgs.122, 102.)Brain size has been shown to decrease 20-30% if a child is not touched, played with or talked to (Healy 1990 pg.199). In addition, the poor quality of reproduced sound presented to our hearing and the flashing, colored, fluorescent over-stimulating images presented to our eyes cause problems in the development and proper function of these two critical sense organs (Poplawski 1998 pg.60). It is important to realize that a six-year olds brain is 2/3 the size of an adults though it has 5-7 times more connections between neurons than does the brain of an 18-month old or an adul t(Pearce 1992 pg.78). Television has been in existence for the past 80 years, though the broadcasting of entertainment shows did not begin until the 1940s. In 1950, 10% of American households own a TV set. By 1954, this Percentage had increased to 50%, and by 1960, 80% of American households owned a television. Since 1970, more than 98% of American households own a TV and currently 66% of households own three or more TVs. Television is on almost 7 hours per day in an average American home. Children of all ages from preschool through adolescence, watch an average of 4 hours of TV per day (excluding time spent watching videos or playing computer games). A child spends more time watching TV then any other activity except sleeping, and by age 18 a child has spent more time in front of a TV than at school. (Internet yahoo.com)Parents have to regulate and take part of there childrens lives with television. Some things parents can do to control what children watch and protect them are:*Mov e your TV to the basement, sunroom, or attic. Having a TV in a prominent place is too tempting. When you want to watch a show, move the tube back to the living room. You may be surprised at how few programs you find worth all this moving. .u9fd73e7ad1476b7e41ccd74675f7deea , .u9fd73e7ad1476b7e41ccd74675f7deea .postImageUrl , .u9fd73e7ad1476b7e41ccd74675f7deea .centered-text-area { min-height: 80px; position: relative; } .u9fd73e7ad1476b7e41ccd74675f7deea , .u9fd73e7ad1476b7e41ccd74675f7deea:hover , .u9fd73e7ad1476b7e41ccd74675f7deea:visited , .u9fd73e7ad1476b7e41ccd74675f7deea:active { border:0!important; } .u9fd73e7ad1476b7e41ccd74675f7deea .clearfix:after { content: ""; display: table; clear: both; } .u9fd73e7ad1476b7e41ccd74675f7deea { 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; } .u9fd73e7ad1476b7e41ccd74675f7deea:active , .u9fd73e7ad1476b7e41ccd74675f7deea:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9fd73e7ad1476b7e41ccd74675f7deea .centered-text-area { width: 100%; position: relative ; } .u9fd73e7ad1476b7e41ccd74675f7deea .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9fd73e7ad1476b7e41ccd74675f7deea .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9fd73e7ad1476b7e41ccd74675f7deea .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; } .u9fd73e7ad1476b7e41ccd74675f7deea:hover .ctaButton { background-color: #34495E!important; } .u9fd73e7ad1476b7e41ccd74675f7deea .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9fd73e7ad1476b7e41ccd74675f7deea .u9fd73e7ad1476b7e41ccd74675f7deea-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9fd73e7ad1476b7e41ccd74675f7deea:after { content: ""; display: block; clear: both; } READ: Planning for Professional Development Essay*Have everyone in the family make lists of activities to do besides watching TV then start doing them. *Sell all but one TV. Remove extras from bedrooms, the kitchen, and the garage. Use books or tapes or the radio instead of TV as background noise. Instead of using the TV as an electronic baby-sitter as you make dinner, invite children to help plan and make meals. Then leave the TV off while you eat. *Try to limit viewing to less than five hours a week, not by browbeating by providing fun alternatives for everyone in the family. Avoid using TV as reward and punishment. This increases the power of TV. Have a family meeting and agree on such limits as no morning TV or no TV before all homework is done. With all these possibilities, parents can secure childrens innocence. People can live without television. There are many more ways to tune out TV. IF some children have a computer they can keep themselves busy with it. Some can play sports go on outings and more. Television is a dangerous factor that can be avoided. (Infotrac.com)The average child watches five hours of TV by time they are in the first grade and nineteen thousand by the end of high school. Children watch TV more than any other single activity. Play a large role in our childrens televisions screening. Do not allow television to shape the attitudes of our children. Whether its regulating our children and TV or turning t he thing off it must be controlled. When one is going to watch TV they should make it positive activity instead of negative one. In conclusion even though TV affects children and adults I feel no one will ever stop watching Television. Television is to important and great to watch for people to just stop watching. I know I will not stop because I feel it is very entertaining and sometimes educational. Now we have cartoons likeHysteria, which talk about History in a fun way for kids to watch. Also Sesame Street for our young viewers. If you think that TV programs are going to affect your child or childrens life it is your decision to decide what they should watch. REFERENCESEverett, Miles. How Television Poisons Childrens Minds.1997 :Miles Publishing.pgs.89-105Healy, Jane. Endangered Minds: Why Children Dont Think and What We Can Do About It. 1990 New York:Simon and Schuster. Pgs.89,102,105Internet:Yahoo.comInfotrac.comPearce, Joseph Chilton. Evolutions End:Claiming Our Potential of Our Intelligence.1992:Harper San Francisco.pgs.50,78. Poplawski, Thomas. Losing Our Senses. A journal for Waldodorf Education,Vol.7,No.2,1998.pg.60

Teach Your Child All About King Arthur With an Essay Topic

Teach Your Child All About King Arthur With an Essay TopicKing Arthur exists in the hearts of all children and adults alike because of this terrific and funny kid's essay topic. It is also ideal for middle school or high school students as well as teachers. Many children are definitely drawn to the character of Arthur, a legendary swordsman, and they want to know more about his adventures.This sort of adventure and conflict is a huge draw for young readers as they enjoy following the adventures of a hero. The characters of the tale, the knights of the Round Table, Arthur, Guinevere, Lancelot, Morgan Le Fay, and Gudrun also appeal to adult readers, and because of this, King Arthur essay topics are increasingly becoming popular for books and young children's stories.These are the same stories that made the top-rated list for the blockbuster movie 'The Hobbit' which was based on the novel 'The Lord of the Rings'. 'The Lord of the Rings' has become a great worldwide phenomenon, and more children and adults are being drawn to the novels of J.R.R. Tolkien, which involve a fictional world of dwarves, elves, and giants.J.R.R. Tolkien's work has had great success in both the book and movie arenas. For parents who have never read the story of the powerful adventures of King Arthur, this may be the perfect time to start reading the classic tale of King Arthur, as well as the 'Lord of the Rings'.This is an excellent time to talk about all of the fantastic adventures that arise from the famed epic tale of King Arthur. Children will love to see their hero of the story emerge from his stables and fight by his side. Adults who have never experienced an epic fantasy tale, will find themselves quite enthralled with the beloved tale of King Arthur.So what makes these tales so appealing? If you ask your child, he may describe these sorts of adventures as exciting and really amazing. Whatever your child's preferences, there is no doubt that his interest will be motivated by these w onderful tales.King Arthur essay topics are a perfect choice for teaching about any memorable and enjoyable story of life. As a parent, you should consider this as an option for providing excitement for your child. In this age of electronic media, there is no need to have only one medium for introducing your child to the tales of King Arthur.

One basic assumption of Black-Scholes model Essays

One basic assumption of Black-Scholes model Essays One basic assumption of Black-Scholes model Essay One basic assumption of Black-Scholes model Essay One basic assumption of Black-Scholes model is that the stock price is log-normally distributed with constant volatility. However, in option market, does this assumption hold? In our paper, we try to show how wrong Black-Scholes is by challenging this assumption and illustrate the difference between Black-Scholes and real world. Method used to exam mispricing problem of Black-Scholes model About Mixlognormal: The probability distribution of the stock price might be made up of a mixture of two lognormal distributions, one for the possibility of an increase in share price and the other one of a decrease. In this way, we can capture the empirical distribution of stock price; its shape must be more accurate and accordingly more likely to be the same as the distribution of the companys share price in the real world. (Precisely, if we can employ more lognormal distributions to obtain the possibility for the movement of share price, we would get better distribution to describe real world.) Therefore, we could simply test the accuracy of Black-Scholes model by comparison. About Data: We chose Six Continents as our target company to do our analysis and made a comparison between its mixlognormal distribution and Black-Scholes lognormal distribution. We chose Feb 19th as the big event date for the company, because there was a takeover bid from the management of Pizza Express on that day. The share price of Six Continents jumped more than 10% on Feb 19th and the trading volume increased more than 200%. The dates before and after the big event date are Feb 18th and Feb 20th respectively. Following this way, the mispricing drawback of Black-Scholes might be detected more easily due to the noise of big event. Interpretation of the results Using the Excel VBA programme, we got the Black- Scholes lognormal distribution and mixlognormal distribution for these two particular days. The lognormal distribution of Black-Scholes is shown in blue and the mixlognormal distribution is shown in pink. Figure 1 Mixlognormal distribution and lognormal distribution for Six Continent options on 18th, Feb 2003. Figure 2 (Figure 1 and 2 are consistent with each other. Both illustrate the option is mispriced by Black-Scholes.) Comparing these two distributions (i.e. figure 1) of the date of Feb 18th, we find that: 1, the mixlognormal distribution has a fatter left tail and thinner right tail than the lognormal distribution (This phenomenon is also supported by empirical evidence when some people analysed the S;P 500 index), and 2. Both sides of the tails in mixlognormal distribution are longer as well. 3. The right tail is longer than the left tail. For the first finding, it means that in the more accurate scenario, the volatility used to price a low strike price option (i.e. a deep-out-of-the-money put or a deep-in-the-money call) is higher than that used to price a high-strike-price-option (i.e. a deep-in -the-money put or a deep-out-of-the-money call). The second finding means that the Black-Scholes lognormal distribution chops some small probability events, but in fact, these small probability events do exist in real world. The explanation of the third finding is that the bid proposal for Six Continent leaked before the announcement date. Investors have taken the probability of takeover into consideration and predict the price will go up. The probability of the share price going up is bigger than the probability of its going down, the right tail is longer. Figure 3 Mixlognormal distribution and lognormal distribution for Six Continent options on 18th, Feb 2003. Figure 4 Comparing the mixlognormal figure with the lognormal one (i.e. figure 3) of the date of Feb 20th, we find that: 1. This relationship of the two distributions is similar to those of the date of Feb 18th. 2. The left tail is still a little bit fatter and the right side a little thinner in the mixlognormal than that of lognormal. 3. The right tail is longer than of the left tail. The interpretations of this figure are the same to the above ones. From the above comparison and analysis, we can find the reason that Black-Scholes model is often shown to misprice out-of -the money and in-the-money options relative to their at-the-money counterparts: the assumption, which states that future stock price have a lognormal distribution and equivalently future returns have a normal distribution (which both results from the assumption of stock prices following a geometric Brownian motion.), is invalid. If this assumption is neglected, the risk neutral probability density does not necessarily fall into the family of lognormal distributions but can be shaped differently. This implies, that lognormal parametric estimation of risk-neutral probabilities leads to wrong result. When we move the two mixlognormal distributions (i.e. figure 6) together and also the two Black-Scholes distributions (i.e. figure 5) together, it is obvious to find that beside the mean of the share price moving to high level, the volatility shape changes a little. The left tail of figure before the big event dates is much fatter than the left tail of the figure after the big event date. Figure 5 Lognormal distributions of Six Continent options on 18th and 20th of Feb 2003. Figure 6 Mixlognormal distribution of Six Continent options on 18th and 20th of Feb 2003. This is understandable if we accept the explanation for the volatility smile when concerns leverage. It says that as a companys share price declines in the value, the companys leverage increases. Thus the equity of the company becomes more risky and its volatility increases. When the companys share price increases, leverage decreases, then the equity become less risky and its volatility decreases. Since the bid for the Six Continents was accepted as favourable news for the shareholders, the share price had a big jump. According to the above explanation, its shares become less risky and thus lower volatility, so the left tail becomes thinner. Conclusion We estimated risk neutral density of equity option prices and compared mixlognormal distribution and lognormal distribution before and after big event. We found that the assumption (stock prices are log-normally distributed) of Black-Scholes does not hold in the real world and this hole can make the options mispriced. Appendix 1: The raw data of lognormal distribution for Six Continent options on 18th, Feb 2003. Trade 18-Feb-03 Maturity 16-Apr-03 r 0 T 0.1561644 F 554.5 sigma 0.4091905 mkt call strikes BS theory Sq Error moneyness weigted sq error 196 360 194.58 2.01 194.5000 0.0103 166.5 390 164.89 2.59 164.5000 0.0157 138 420 135.86 4.57 134.5000 0.034 101.5 460 99.5 3.98 94.5000 0.0421 69 500 67.93 1.14 54.5000 0.0211 38 550 37.88 0.01 4.5000 0.0032 17.5 600 18.77 1.62 45.5000 0.0356 7 650 8.34 1.8 95.5000 0.0188 2.5 700 3.36 0.75 145.5000 0.0051 1 750 1.25 0.06 195.5000 0.0003 0.5 800 0.43 0 245.5000 0 18.53 0.1862 Appendix 2: The raw data of lognormal distribution for Six Continent options on 20th, Feb, 2003. Trade 37672 Maturity 37727 r 0 T 0.15068493 F 615.5 sigma 0.36813434 mkt call strikes BS theory Sq Error moneyness weigted sq error 256.5 360 255.5013903 0.997221354 255.5 0.003903019 227 390 225.5132704 2.210364876 225.5 0.009802062 197 420 195.5835263 2.006397745 195.5 0.010262904 157.5 460 156.0819138 2.010968563 155.5 0.012932274 119.5 500 118.0715084 2.040588233 115.5 0.017667431 76.5 550 75.70383997 0.633870793 65.5 0.009677417 42.5 600 42.91727918 0.174121912 15.5 0.011233672 21 650 21.38061239 0.144865789 34.5 0.004199008 9 700 9.401761762 0.161412513 84.5 0.001910207 3.5 750 3.688784898 0.035639738 134.5 0.000264979 1 800 1.308782808 0.095346823 184.5 0.000516785 0.5 850 0.425705755 0.005519635 234.5 2.35379E-05 10.51631797 0.082393295 Appendix 3: The raw data of mixlognormal distribution for Six Continent options on 18th, Feb, 2003. Trade 18-Feb-03 Maturity 16-Apr-03 r 0 T 0.1561644 F 554.5 F1 613.42684 sigm1 0.0050015 F2 545.13413 sigma2 0.4331614 p 0.1371431 Cmarket X Cimplied (Cmarket-Cimplied)^2 Implied sigma by BS 196 360 194.6650299 1.782145105 0.605651935 166.5 390 165.1475618 1.82908915 0.53766516 138 420 136.4577704 2.378472184 0.502173454 101.5 460 100.7421585 0.574323782 0.454991983 69 500 69.60810609 0.369793012 0.424942163 38 550 38.86792249 0.753289445 0.410555737 17.5 600 17.00376787 0.246246324 0.393289282 7 650 6.928636732 0.005092716 0.38547187 2.5 700 2.914632833 0.171920386 0.382378979 1 750 1.14301875 0.020454363 0.394114927 0.5 800 0.422795028 0.005960608 0.417111769 8.136787075 Appendix 4: The raw data of mixlognormal distribution for Six Continent options on 20th, Feb 2003 Trade 20-Feb-03 Maturity 16-Apr-03 r 0 T 0.1506849 F 615.5 F1 631.64945 sigm1 0.005 F2 613.47651 sigma2 0.3942533 p 0.1113462 Cmarket X Cimplied (Cmarket-Cimplied)^2 Implied sigma by BS 256.5 360 255.5039835 0.992048772 0.684121728 227 390 255.5291768 2.163320768 0.634591317 197 420 195.6487533 1.825867624 0.544725925 157.5 460 156.3364319 1.353890697 0.457835271 119.5 500 118.6654525 0.696469529 0.411053745 76.5 550 76.50974266 9.49E-05 0.380098628 42.5 600 42.7445391 0.059799374 0.363618501 21 650 20.42471433 0.330953606 0.363939585 9 700 9.572591543 0.327861075 0.362150688 3.5 750 4.077689599 0.333725272 0.363395708 1 800 1.597153827 0.356592693 0.351554917 0.5 850 0.581926491 0.00671195 0.376206304 8.447336279

Thirty Years War Battle of Rocroi

Thirty Years' War Battle of Rocroi In early 1643, the Spanish launched an invasion of northern France with the goal of relieving pressure on Catalonia and Franche-Comtà ©. Led by General Francisco de Melo, the mixed army of Spanish and Imperial troops crossed the border from Flanders and moved through the Ardennes. Arriving at the fortified town of Rocroi, de Melo laid siege. In an effort to block the Spanish advance, the 21-year old Duc de dEnghien (later the Prince of Conde), moved north with 23,000 men. Receiving word that de Melo was at Rocroi, dEnghien moved to attack before the Spanish could be reinforced. Summary Approaching Rocroi, dEnghien was surprised to find that the roads to the town were not defended. Moving through a narrow defile flanked by woods and marsh, he deployed his army on a ridge overlooking the town with his infantry in the center and cavalry on the flanks. Seeing the French nearing, de Melo formed up his army in a similar fashion between the ridge and Rocroi. After camping overnight in their positions, the battle began early on the morning of May 19, 1643. Moving to strike the first blow, dEnghien advanced his infantry and the cavalry on his right. As the fighting began, the Spanish infantry, fighting in their traditional tercio (square) formations gained the upper hand. On the French left, the cavalry, despite dEnghiens orders to hold their position charged forward. Slowed by soft, marshy ground, the French cavalrys charge was defeated by the German cavalry of Grafen von Isenburg. Counterattacking, Isenburg was able to drive the French horsemen from the field and then moved to assault the French infantry. This strike was blunted by the French infantry reserve which moved forward to meet the Germans. While the battle was going poorly on the left and center, dEnghien was able to achieve success on the right. Pushing Jean de Gassions cavalry forward, with support from musketeers, dEnghien was able to rout the opposing Spanish cavalry. With the Spanish horsemen swept from the field, dEnghien wheeled Gassions cavalry around and had them strike the flank and rear of de Melos infantry. Charging into the ranks of German and Walloon infantry, Gassions men were able to force them to retreat. As Gassion was attacking, the infantry reserve was able to break Isenburgs assault, compelling him to retire. Having gained the upper hand, by 8:00 AM dEnghien was able to reduce de Melos army to its vaunted Spanish tercios. Surrounding the Spanish, dEnghien pummeled them with artillery and launched four cavalry charges but was unable to break their formation. Two hours later, dEnghien offered the remaining Spanish terms of surrender similar to those given to a besieged garrison. These were accepted and the Spanish were permitted to depart the field with their colors and weapons. Aftermath The Battle of Rocroi cost dEnghien around 4,000 dead and wounded. Spanish losses were much higher with 7,000 dead and wounded as well as 8,000 captured. The French victory at Rocroi marked the first time the Spanish had been defeated in a major land battle in nearly a century. Though they had failed to crack, the battle also marked the beginning of the end for the Spanish tercio as a favored fighting formation. After Rocroi and the Battle of the Dunes (1658), armies began shifting to more linear formations. Selected Sources: The French Phase of the Thirty Years WarFrance and the Thirty Years War