Thursday, August 27, 2020
Warrior Marks Ã Ã Ã Ã Ã Female circumcision is a customary custom that is generally drilled in Africa on little youngsters with ages that differ from birth to pre-pubescent. It is accounted for to have its inceptions (with shifting degrees of unwavering quality) in antiquated Egypt. Female circumcision was likewise found being polished in western India and eastern Asia until it was prohibited around the turn of the twentieth century (BC). The method is fluctuated through three unique kinds of circumcision: Infibulation, clitoridectomy and Sunna. Clitoridectomy and Sunna are minor rendition of the circumcision with Infibulation being the most radical. These practices cause genuine wellbeing risks in certain ladies, which become more prominent in grown-up a very long time with the presentation of discharging, intercourse and labor. Unmistakably, there must be an amazing explanation behind this strategy to proceed with given the inconveniences and obligatory dull post medical procedures. Some bookkeeping must be taken so as to comprehend why ladies are placed in such danger. The appropriate response lies in culture. An individual's way of life and foundation characterize the conviction framework and understanding that an individual holds as inborn truth. All decisions and choices are made due to culture and anything that is contrary to culture influences the choice procedure and their convictions. Other significant components to understanding the continuation of female circumcision are social and strict conventions, power/distance connections, and stylish tastes. Is this longstanding convention important and if so are there approaches to consolidate progressively favorable (clean instruments, restoratively guaranteed/experienced specialists, age limit, and so forth.) techniques for playing out the activity? Anyw ay superfluous a pariah may think the training is, the irreversible reality is that this custom is a significant component of social personality. In the event that the activity by one way or another was not finished by a specific age in the young ladies life, she would be supported by her companions just as her seniors to search out and demand the circumcision. Not quite the same as most customary practices in African, female circumcision is only saved for womenÃ¢â¬â¢s nearness and men are rejected from point by point information on explicit occasions. Females typically have these activities performed on them previously or at pubescence. It is basic for the mother or other close relative as a rule holds the young lady in dad... ...iciently loathsome that we will effectively work to change the conduct. I would suggest that the United Nations take an increasingly handy remain on the issue and start to set up options that will at any rate make the act of female circumcision progressively sterile. These associations offer condoms to decrease the spread of helps and food assets to actuate good dieting propensities so they should start to prepare these nations to finish the training in precise clinical structure. This does no imply that the United Nations or some other association concurs with the training, it just implies that positive endeavors are being made towards diminishing pointless delayed consequences. We will always be unable to address whether the procedure is vital in light of the fact that we don't comprehend the way of life. Nonetheless, we can improve it. Everybody in America doesn't concur with premature birth, which could be viewed as female genital mutilation, anyway the decision to have the system done is accessible and it is accessible under medicinally prepared spe cialists that are centered around keeping the patient safe. The patients of female circumcision ought to likewise have these alternatives accessible. To comprehend doesn't intend to excuse.
Saturday, August 22, 2020
In the harmony settlement Germany had to acknowledge sole obligation regarding causing World War I. This was a completely reasonable interest with respect to the successful forces. The Treaty of Versailles was established into history in June 1919 with Germany constrained to acknowledge sole duty regarding causing World War I. From that point forward there has been significant discussion concerning the war however even today history specialists despite everything can't completely concur upon the causes. Some help has been given to the hypothesis that Germany was absolutely liable for the war anyway generous proof doesn't bolster that see. In this manner the request by the triumphant forces to remember for the Bargain that Germany acknowledge absolute fault can't be advocated. This exposition looks at specific occasions and activities before the July emergency. These caused strain and threatening vibe among countries yet didn't have a direct bearing upon the war. Additionally it has been resolved that there were choices and game-plans taken by a few countries following the death of Franz Ferdinand beneficiary to the Austrian-Hungarian seat which had an immediate bearing upon World War I. Advancement of political and military partnerships caused strain also, threatening vibe among countries paving the way to World War I. Two significant collusion frameworks created because of clashing national interests which had been apparent during the previous two decades all through Europe. These were the Triple Alliance of Germany, Austria-Hungary and Italy also, the Triple Entente of Britain, France and Russia. Additionally a few littler nations turned out to be by implication associated with the coalitions which viably partitioned Europe into two Armed Camps. Russia vowed to bolster Serbia so as to forestall further Austrian-Hungarian venture into the Balkans. Germany expressed its help for Austria-Hungary and Britain had given its help for Belgiums 2. lack of bias in 1839. Notwithstanding while these political and military partnerships existed there is no immediate proof to show that any country pronounced war on that premise. There had been a few emergency during the period 1905-1913. First the Moroccan emergency including France and Germany during 1905 and 1911. No wars eventuated as it were strains and fears with respect to Germanys forceful expansionist strategies. England bolstered France being engaged with Morocco and France yielded some region in the Congo to Germany. Second the 1908 Balkans emergency eventuated as a result of the breakdown of the Ottoman [Turkish] Empire. Austria-Hungary attached the areas of Bosnia-Herzegovina. Serbia was insensed and looked for Russian help. Germany got included and Russia threw in the towel. At last two wars created in the Balkans. The primary Balkan war  was among Turkey and the Balkan League [Serbia, Bulgaria and Greece] with Turkey being driven out of the Balkans. The subsequent Balkan war  happened among Bulgaria and Serbia/Greece. Winning this war reinforced Serbs position and this gave Austria-Hungary concern with respect to impact in the Balkans. The primary essentialness of the Balkan wars was the situation of Britain and France putting restriction on Russia and Germany controlling Austria-Hungary. This didn't occur with the July emergency of 1914 which brought about World War I. [Condron - The Making of the Modern World] Also the two Balkan wars brought about reestablished hostility among Bulgaria and the other Balkan states particularly Serbia and caused general disappointment in light of the fact that of the obstruction of the extraordinary powers in Balkan politics.[Grolier - World War I]. Proof supports that while the different occasions talked about didn't contribute legitimately to World War I they did to be sure add to extraordinary pressures and doubts between the incredible forces undoubtedly energized the weapons contest which as a result arranged countries for the complete calamity that was to follow the July emergency. The weapons contest which for the most part included Britain and Germany started in 1896 when Germany took the choice to essentially extend its naval force. This extraordinary rivalry which created made noteworthy pressures between countries. The power to grow was additionally filled following each significant emergency which created during the period 1905-1913. England solidified its situation towards Germany. The arms race likewise stretched out to different regions, for example, the development and modernization of armed forces. Proof proposes that because of the huge increment in consumption on naval forces and armed forces along with 3. transport and hardware Britain and the European countries were truth be told getting ready for a war that they knew would eventuate at some stage. Germany touched off the weapons contest with its expect to build up a naval force two thirds the size of Britains to secure the defenseless North Sea and potentially through the dread of circle however proof backings that Britain drove the weapons contest and along these lines this activity contributed fundamentally towards the bloodletting and obliteration that came about because of World War I. The death of Archduke, Franz Ferdinand, beneficiary to the seat of Austria-Hungary happened on the 28
Friday, August 21, 2020
Why Student Volunteering Why Student Volunteering? Considering getting involved in some student volunteering at university? Go for it! University life is all about the experiences â" or at least so we are told. While studying and partying may take up a lot of your time, making space for some voluntary work can really add value to your overall university experience.Here are my top reasons to get involved in student volunteering at university...See also: Benefits of a volunteering gap year1. Make a differenceFirst and foremost, student volunteering is of course a great way to make a real contribution to a cause you feel strongly about. For some, choosing a cause or charity is the hard part, while others may already have one in mind. Look at the list of societies that are part of your university, and youâll probably find all the big names already established there: Amnesty, Save the Children, Water Aid, Cancer Research and the list goes on.Consider what you feel most strongly about, whether itâs children, cancer, stroke, heart disease, animals, the environment, or something else. After this, look at the missi on statements of the charities that match what youâre empathetic about, read about what the society based at your university does, and if possible go and meet them to get a better idea.2. Have amazing new experiencesThe chance to participate in new experiences is a big part of the appeal of student volunteering, and the more involved you get, the greater a sense of satisfaction youâll receive. You could find yourself standing outside a lecture hall with a bucket to fundraise, showing off your baking skills for a bake sale, doing a tandem sky-dive, running races, doing an epic bike ride, hosting a fashion show, competing in a dance off, building a well in a developing country... the list is endless.Volunteering can be as fun as you want to make it, and really caters to everyone. If you are an adrenalin junkie you can use that passion to sky-dive or climb a mountain, or if youâre a fashionista, be part of a fashion show to help your cause. You can always find something â" and i f it doesnât already exist, start it up yourself!3. Meet new peopleItâs not just about the fundraising; volunteering also means getting to meet people with a similar passion. This is also a chance to learn a lot, because of the diversity of the people youâll be working alongside â" all bringing different perspectives, experiences and skills.If youâre studying abroad, you may find you get a new perspective on both local and global causes, and a new desire to help. Having encountered a new culture may place you in a better position to do so, adding to your experience and knowledge.4. Boost your employment prospectsWhen you go for a job interview, having student volunteering work on your CV is always a bonus. No matter how what industry youâre applying to, employers always like to see part of your wider personality, and what you really care about. Most companies will support a charity or work towards charitable efforts in some way.Of course, if you want to enter the non-pro fit and charity sector, voluntary work would be absolutely essential for your CV, to show your commitment. This kind of experience can also be an avenue for getting internships â" and in turn jobs.Benefits of a volunteering gap yearStudent clubs: A waste of time?How to maximise your employment potential
Monday, May 25, 2020
Individuality is something we all strive for, so how is it that sometimes being different is regarded as a bad thing? Nowadays the society goes through a great deal of trouble to make sure that they do not resemble, dress or even speak alike someone else. Most of mankind accept and respect people who try so hard to be different. What about the people who donÃ¢â¬â¢t try to act different but who are merely born different, why does society regard them as abnormal? People suffering from mental and/or physical handicaps are always looked upon as being different in an awful way. Individuals should all be treated the same and have the right to human dignity. We are all the same and we all have our flaws and imperfections. Just because some people areÃ¢â¬ ¦show more contentÃ¢â¬ ¦If anything she realizes that she needs to be more understanding and accepting towards them. Christopher Reeve, also referred to as the previous superman, had a sudden life alternating accident. He fell off a ho rse and he is now paralysed from the neck down and cannot breath on his own. After his injury, he was considered a handicap, however, this never changed his personality. His ability to love and his humour remained unaltered. In the end we all have flaws, so there is no reason why we should judge someone else for having their own imperfection. Seventy-five percent of the time, people suffering from any kind of handicap are excluded by regular folks. The society has to begin integrating them into the system in order to create a movement of acceptance towards them. It is unacceptable that the population just does not deal with individuals that require special needs, they rather just avoid them all together. As a result, the disabled are always left behind, never wanted, and often ridiculed. The ones that are not mentally challenged grow up to have an extremely low self esteem because of the lack of understanding in relation to them. On the other hand, those who do have mental disorder s simply donÃ¢â¬â¢t understand what is really going on around them. They could think they have friends but in the end they were just laughing and making fun of them, without their knowledge.Show MoreRelatedRules for Offer and Acceptance979 Words Ã |Ã 4 PagesRules of Offer and Acceptance are applied to enforce an agreement by the law. This agreement is the first requisite of any contract of the business. In order to a contract come into being between parties, the offer is made by the offeror and the oferee accept that offer. In 21st century, there are rapid changes in business trend which create lots of new business model such as e-business and global business. The more business participates, the more requirements of Offer and Acceptance Rules to adapt toRead MoreQuestions On Department Of Law Essay2082 Words Ã |Ã 9 PagesPaloschi (1) When forming a contract, the requirements of offer and acceptance have to be met. Offer; intimation of a willingness to enter a legally binding contract, is the first step to enter into an agreement. Additionally, the second requirement is acceptance, when the offeree must accept the offer. A fundamental requisite in order to establish and finalise an agreement is that offer and acceptance must correspond between the parties. Here, we encounter the intricacies of dealingRead MoreHow Technology Affects Consumer Behaviour?14761 Words Ã |Ã 60 PagesTechnology Acceptance Model, Motivation Model, Theory of Planned Behavior, Innovation Diffusion Theory etc. Davis Technology Acceptance Model (Davis, 1989) predicts information technology acceptance and usage. In this model the userÃ¢â¬â¢s behavioral intention to use a technology is affected by their perceived usefulness and perceived ease of use of the technology. This model was originally developed for studying technology at work. Later it has been used as such or modified to study user acceptance of consumerRead MoreClimate change and society Essay1055 Words Ã |Ã 5 Pagesand Society Second draft Name : Suen Ching Yi Student ID : 14101226D Topic : In considering solutions to the problem of global warming, state whether you agree with the statement by Tickell ((1996), in Houghton, Chapter 8 p.253) Ã¢â¬Å"Mostly we know what to do but we lack the will to do itÃ¢â¬ . Give reasoned arguments in support of your opinion. Global warming is the topic that increasingly occuipies the attention of world. Is it really happening? If so, how much of it is dueRead MoreConsumers Attitude Towards Green Practices in the Hotel Industry867 Words Ã |Ã 4 PagesTierney et al., (2011), reveals that there exists a green skeptic where they believes that going green is not important and the global warming is not serious as claim by media. There were more than 39 per cent consumer are strongly agreed or agreed that government forces is the primary reasons the travel/tourism companies implies green practice. Consumer also believes that global warming problem is not serious as the media wants them to trust and said that green practice were done because of the publicRead MoreGlobal Warming And Its Effects880 Words Ã |Ã 4 PagesEver since the 1980Ã¢â¬â¢s Global Warming has been an intriguing topic among citizens, scientists and government officials. ItÃ¢â¬â¢s ironic to think that only years earlier in the 1970Ã¢â¬â¢s the phenomenon was global cooling, now on a dime it suddenly shifted from intense glaciation to excessive carbon dioxide emissions that raise the temperature of the planet. A large number of influential scientists and engineers do not agree that drastic actions on global warming are necessary. This is simply just anotherRead MoreClimate Change and Public Policy Essay examples1503 Words Ã |Ã 7 PagesIt is becoming increasingly certain that climate change will have severe adverse effects on the environment in years to come. Addressing this issue poses a serious challenge for policy makers. How we choose to respond to the threat of global warming is not simply a political issue. It is also an economic issue and an ethical one. Responsible, effective climate change policy requires consideration of a number of complex factors, including weighing the costs of implementing climate change policiesRead MoreEnvironment Friendly Lifestyle Products : An Analysis Of The Adoptio n Levels, Consumer Perceptions And Marketing Techniques1612 Words Ã |Ã 7 Pagesof using such products in the long run? Ã¢â¬ ¢ How can the manufacturer / marketer enhance consumer attraction and profitably market a climate smart product using conventional and unconventional marketing techniques for its increase in sales and wider acceptance? It has to be observed that climate all over the world is changing and the usage of conventional gadgets and products requiring higher energy and emitting green house gases are gradually affecting our environment. If there are alternate productsRead MoreClimate Change : Global Warming1274 Words Ã |Ã 6 PagesBefore continuing it is best to define some well known but often misunderstood terms, so confusion does not arise. Firstly, Climate Change and Global warming; You may hear these terms used interchangeably but for the purpose of this paper they are not and in fact the term global warming will be avoided where possible due to its definition being too narrow. Global warming speaks specifically of an Ã¢â¬Å"Ã¢â¬ ¦increase in EarthÃ¢â¬â¢s average surface temperature due to rising levels of greenhouse gases.Ã¢â¬ (http://wwwRead MoreGlobal Warming and Climate Change Essay1057 Words Ã |Ã 5 PagesGlobal Warming, much of what does or does not happen forty years from now rests on our actions or inactions taken between now and then. The crucial question is whether we should pour all our resources into mitigation Ã¢â¬â reducing our carbon emissions. According to scientists who study the climate there are other environmental problems; Ã¢â¬Å"we now face a global crises in land use and agriculture that could undermine the health, security, and sustainability of our civilizationÃ¢â¬ . Rather than worry too much
Thursday, May 14, 2020
They say the only things certain in life are death and taxes. That might be true. But the way you pay your taxes is certainly changing. Key Takeaways The Internal Revenue Service (IRS) officially stopped mailing annual tax return forms to individual taxpayers at the end of 2010.The IRS estimated at the time that the change would, in fact, save taxpayers over $10 million a year in printing, postage, and processing costs.Paper tax forms and instructions can still be ordered from the IRS or picked up at local IRS assistance centers or participating post offices and public libraries.Electronic filing or Ã¢â¬Å"efilingÃ¢â¬ is now the predominant method of filing tax returns, with over 56 million taxpayers having prepared and efiled their federal tax returns since the IRS stopped mailing paper tax forms in 2011 The Internal Revenue Service announced that it will no longer mail out paper tax forms to Americans, effective 2011. The move is designed to save everyones favorite government agency a little cash - about $10 million a year. With the continued growth in electronic filing and to help reduce costs, the IRS will no longer mail paper tax packages that typically arrive in January of each year, the agency said in a postcard mailed to taxpayers. The IRS will save money by not having to print and mail the thick, 44-page packet of information, tax tables and Form 1040s. If you dont want to file electronically, here are your options for getting paper tax forms: Log onto IRS.gov, where you can download and print the latest tax forms.Drop by your local IRS Taxpayer Assistance Center.Go to your local post office or library if they participate in the federal tax products program.After Jan. 1, you can also dial the IRS toll-free hotline and ask them to mail you the paperwork. The number is (800) 829-3676. The IRS has been encouraging taxpayers to file electronically for years. About 96 million taxpayers filed electronically in 2010, and another 20 million submitted their forms to the IRS through professional tax preparers, according to the agency. By comparison, only about 11.5 million taxpayers who filed paper tax forms had received them in the mail. Electronic Filing Now Dominates Figures released by the IRS in 2019 show that the agencyÃ¢â¬â¢s 2011 decision to Ã¢â¬Å"go paperlessÃ¢â¬ was a wise and popular one. According to the IRS, the number of tax returns that are filed electronicallyÃ¢â¬âefiledÃ¢â¬âhas grown every year since. By the end of May 2019, for example, more than 127,939,000 million tax returns for Tax Year 2018 had been efiled. Taxpayers who self-prepare and efile their own tax returns have continued to grow. In 2019 (for Tax Year 2018), over 56,214,000 million taxpayers have prepared and efiled their federal tax returns themselves as of May 2019. In addition, as of May 2019, over 86,965,000 million taxpayers had received faster federal tax refunds via direct bank deposits into bank accounts through electronic bank transfers (EBT). The average tax refund received by direct deposit was $2,868. The option to file tax returns electronically has actually been around for 25 years. The practice of efiling began in 1986 as a small test program in 1968, when only 5 tax IRS-selected tax preparers from Cincinnati, Raleigh Durham, and Phoenix agreed to participate. Since then, efile has grown to become commonplace, serving millions of taxpayers every year. Updated by Robert Longley
Wednesday, May 6, 2020
The symbolic Use of Color in Belovednbsp;nbsp; In the novel, Beloved, Toni Morrison uses color to show the reactions of some of the main characters. Color represents many things in the book. Freedom is an example because once the slaves were free, they noticed the beautiful colors all over. They see that the world is not just black and white and two different races, there are many beautiful things that were unnoticed. When Baby Suggs was free, she was able to spread happiness and joy to the community. When the community did not accept that, she fell into depression, but still enjoys freedom, in a different way, more by herself than with others. It was when she wanted to see bright colors. She loved color. In his journey to theÃ¢â¬ ¦show more contentÃ¢â¬ ¦Even though she is depressed, and on her deathbed, she used the rest of her energy to enjoy her own freedom. She celebrated with her community and this is the time for herself. The brightest color in Baby Suggs room is the two orange patches on her blanket. She was Ã¢â¬Å"starv ed for colorÃ¢â¬ (38) in her room. The orange patches were very vibrant in the room; it was the only color that Baby Suggs noticed.nbsp; Bright, vibrant colors are what made Baby SuggsÃ¢â¬â¢s last days of her free life so memorable. nbsp;nbsp;nbsp;nbsp; Paul D. was just starting his new freedom. His journey to the North from the South provided him with the most important experience of his life. He hid and received advice from many helpers. He was told by Cherokees to Ã¢â¬Å"follow the tree flowersÃ¢â¬ (119) to get to the North. Flowers are known to be beautiful and colorful objects. As Paul D treks to the North, he is following the flowers to his freedom. nbsp;nbsp;nbsp;nbsp; Red is a very intense color in the book. It represents death, blood, and evil. When Paul D. arrives at 124 he walked Ã¢â¬Å".... straight into a pool of red and undulating light that locked him where he stoodÃ¢â¬ (8).nbsp; He immediately asked Sethe what kind of evil is in the house.nbsp; That was the first sign of warning Paul D. receives from the house of 124. Paul D. did not understand the warning at first. Morrison described it as, Ã¢â¬Å"as he stepped through the red light he knew that, compared to 124, the rest ofShow MoreRelated Color as a Symbol and Symbolism in Toni Morrisons Beloved Essay1844 Words Ã |Ã 8 PagesUse of Color as a Symbol in BelovedÃ Ã Ã Ã Ã Ã In Beloved, Toni Morrison portrays the barbarity and cruelty of slavery. She emphasizes the African AmericanÃ¢â¬â¢s desire for a new life as they try to escape their past while claiming their freedom and creating a sense of community.Ã In Beloved, Much of the charactersÃ¢â¬â¢ pain occurs as they reconstruct themselves, their families, and their communities after the devastation of slavery (Kubitschek 115). Throughout the novel, Morrison uses color to symbolicallyRead MoreRacism And Discrimination On African Americans1210 Words Ã |Ã 5 Pagesher frequent use of symbolism.2 In The Bluest Eye, an extremely important symbol is blue eyes (Crayton 73). Blue eyes are used to symbolize racially based beauty standards and the power associated with whiteness (Ã¢â¬Å"BluestÃ¢â¬ LitCharts). In the novel, society believes that if a person does not have white skin, he or she is not beautiful. Pecola Breedlove falls victim to this widespread belief and longs to possess blue eyes. In her world, blue eyes are far more than a simple eye color. They are beauty.Read More The Importance of Color in Toni Morrisons Beloved Essay1886 Words Ã |Ã 8 PagesThe Importance of Color in Toni Morrisons Beloved Ã Ã Ã Ã Ã Toni Morrisons Beloved - a novel that addresses the cruelties that result from slavery.Ã Morrison depicts the African Americans quest for a new life while showing the difficult task of escaping the past.Ã The African American simply wants to claim freedom and create a sense of community.Ã In Beloved, the characters suffer not from slavery itself, but as a result of slavery - that is to say the pain occurs as they reconstruct themselvesRead MoreLiterary Elements Of Maya Angelou1976 Words Ã |Ã 8 PagesAngelou and Toni Morrison Maya Angelou was born on April 4, 1928, in St. Louis, Missouri. She was a writer and civil rights activist best known for her 1969 memoir, Ã¢â¬Å"I Know Why the Caged Bird Sings.Ã¢â¬ As a young child Angelou witnessed her parentsÃ¢â¬â¢ divorce and she and her brother were sent to live with their grandmother in Stamps, Arkansas. While in Arkansas, she constantly experienced racism and discrimination, and she was able to translate the emotions that she felt, into her works. Toni MorrisonRead MoreAnalysis Of Toni Morrison s Beloved1200 Words Ã |Ã 5 Pages Ã¢â¬Å"WeÃ¢â¬â¢ve all got both light and dark inside of us. What matters is the part we choose to act on (Sirius Black) Ã¢â¬ . Toni MorrisonÃ¢â¬â¢s novel Beloved dedicates her novel to the 60 million and more exposed to the darkness within the people set out to hurt them. The novel depicts how cruelty leads ex-slaves to make irrational decisions and shape the people they are at the end . The cruelty inflicted on one including but not limited to slavery causes a chain reaction of hatred, pain and suffering and theRead MoreAnalysis Of Toni Morrison s Beloved1200 Words Ã |Ã 5 PagesÃ¢â¬Å"WeÃ¢â¬â¢ve all got both light and dark inside of us. What matters is the part we choose to act on (Sirius Black) Ã¢â¬ . Toni MorrisonÃ¢â¬â¢s novel Beloved dedicates her novel to the 60 million and more exposed to the darkness within the people set out to hurt them. The novel depicts how cruelty leads ex-slaves to make irrational decisions and shape the people they are at the end . The cruelty inflicted on one including but not limited to slavery causes a chain reaction of hatred, pain and suffering and the cycleRead MoreEssay on The Song of Solomon2983 Words Ã |Ã 12 Pages Book Title Song of Solomon Author Toni Morrison Summary The first black boy ever born in Mercy Hospital in a town in Michigan comes into the world the day after an insurance agent named Robert Smith kills himself by trying to Ã¢â¬Å"flyÃ¢â¬ from the roof of the hospital across Lake Superior. The boys mother, Ruth, nurses him until he is eight or nine years old, thus earning him the ridiculous nickname Milkman. Milkman befriends an older boy named Guitar, visits his Aunt Pilate, and falls in love withRead MoreEudora Welty a Worn Path12166 Words Ã |Ã 49 Pagesconversation, he refers to her as Granny, as the other characters do, all of whom are unwilling to look beyond Phoenixs age and see her as an individual. Phoenix Jackson Old Phoenix Jackson is the protagonist of the story. She is described in vivid colors, suggesting her lively nature: she wears a red rag in her hair and her skin is described as yellow, golden and copper. Her age is indicated by the way she movesÃ¢â¬âslowly, in small steps, with the assistance of a caneÃ¢â¬âand by the wrinkles on herRead MoreEudora Welty a Worn Path12173 Words Ã |Ã 49 Pagesconversation, he refers to her as Granny, as the other characters do, all of whom are unwilling to look beyond Phoenixs age and see her as an individual. Phoenix Jackson Old Phoenix Jackson is the protagonist of the story. She is described in vivid colors, suggesting her lively nature: she wears a red rag in her hair and her skin is described as yellow, golden and copper. Her age is indicated by the way she movesÃ¢â¬âslowly, in small steps, with the assistance of a caneÃ¢â¬âand by the wrinkles on her
Tuesday, May 5, 2020
Question: Explain Strategic Management. Answer: Introduction Oil is a major component of the energy sector. The oil price dropped drastically during the last half of the 2014 and as a result of this the stock price of the energy sector declined by 35% (Fitzgibbon, Kloskowska and Martin 2015). The fall in oil price has created lower level of profit and lower level of investment for the project. During the 8th month of 2014, the price of barrel was $100 per barrel for West Texas Intermediate and it has fallen to $50 per barrel by March, 2015. The price of oil has been dropped by 60% since 2014 to 2016. This drop was quite huge. This hinders operations of many firms in this industry and many projects got cancelled during this time (Tim Bowler 2015). The usage of drilling rigs in US declined from 980 in last quarter of 2014 to 954 in middle of April 2015 (Lv and Spigarelli 2015). This number is likely to decline further as some of the ongoing drilling commitment is soon to be completed. Therefore, the OPEC countries reduced their spending in the e xploration of natural gas and oil (Fich, Nguyen and Officer 2015). The firms in the energy sector uses Merger and Acquisition to cope up with the problems. Through this kind of strategies, the energy sector tries to stabilize and improve position by accessing new market; more resource and advanced technology. In this report, the paper will analyze the Merger and Acquisition strategy during oil price decline during 2014 to 2016. The challenges and benefits of M A within the energy sector will be discussed. Critical analysis The drop in oil price started to affect M A strategy and the buying and selling of assets by the companies of energy sector. The Middle East focused on international diversification strategy and long-term investment regionally. Out of deals worth 3 trillion US dollar in 2015, major deals were made between the companies of energy sector. However, the M A deals were less in 2015 than 2014, the amount of deal among the companies were significant. Many studies have found that in spite of the fall in the oil price, the companies will spend on project in the oil and gas sector because of long term strategic importance (Raice 2014). Many surveys predicted that the spending in project will increase during 2015. The companies that emphasized on traditional non-renewable energy and renewable energy were victim to the rapid change of this industry (Yoo, Lee and Heo 2013). The announced mergers of energy sector, mainly in the oil and gas sector was amounted to 323 Billion USD. This sector was third most important sector for M A strategies to be implemented. Among many other oil producing countries, the most of the merger and acquisition takes place in US. The M A accounted for 159.6 billion US Dollar in US during first three quarter of 2015. In this period, some of the mega merger deals revived and this was the striking feature under this scenario where stock price of energy sector was declined significantly (Ng and Donker 2013). The deals in this sector understood the position of the market and synergies played vital role in enhancing the activities in this sector. While possibility of a short term and low oil price environment continued through 2014, the adaptability of this situation started to grow over 2015. In 2015, the only big deal was between BG Group Plc and Royal Dutch Shell Plc, which worth $70billion. Here, deals of upstream moved towards assets. The other deals were between William Companies Plc and Energy Transfer Equity and between Energy Transfer Partner and Regency Energy Partners. Out of 349 acquiring and merging activities in the energy sector, 48% accounted for 500 million US dollar. In United States, the acquisition by WPX, Noble, Vangard and Exxon has been made in the Shale plays. Vedanta in India and Sequa in Norway and BPs interest in the Siberian Project led to international purchases. However, the deals were different in terms of numbers and value engaged in it. The two US yield companies, TerraForm Global and TerraForm Power was sponsored by Sun Edison. Sun Edison was the leader in the acquisition and was the leader o f the portfolios from Vivint Solar; Renova Energis; Globaleq Mesoamerica Energy; Firstwind and Atlantic Power (Ptri et al. 2014). The two crucial acquisitions of gas utility in US was the acquisition of Southern Companies takeover of AGL Resources and Black Hills of Source Gas that operates controlled natural gas utilities. The continuous activity M A activity gained momentum during the decline in the energy sector, because; the buyers wait for further fall in the oil price and producers wait for price to increase. The OPEC did not cut down its output due to fall in the price of the product. The reason behind such small and big deals was to find a method of escaping the market turbulence. The companies have taken these approaches in order to address the cost of production of energy sector and cash flow pressures faced by the company. To raise the cash flow of the company and improve financial position many companies in the energy sector sold their highly valued assets. However, some of the companies do not prefer to sell their assets as the price is too low. This has caused downturn of the players; cost cutting. The capital venture started to delay in order to delay cash. 90% of firms in this sector believe that merger and acquisition will rise by 2016. Due to lower price of crude oil, the prices of other commodity also decline (Deloitte Nigeria 2014). As a result of this low price of commodity, the energy sectors value of assets also declined. This has made merger and acquisition so favourable to the companies. The expansion deals of petrochemical plant between Shell and Saudi Basic Industries and Qatar and Royal Dutch Shell got cancelled because, both buyers and sellers were less confident due to volatility in the atmosphere (Saadi 2015). They perceived that the expectation may become worse instead of having anything better. The sellers think that prices are at its lowest and buyers expect further decline and do not prefer to pay much. Academic Models Five Stage Model of Merger and Acquisition: The initial stage of Merger Acquisition model is the corporate strategy evolution. The firms developed the objectives of the M A strategy. This assists to maximize the portfolio of the running business and to manipulate the interest of the stakeholders. The following phase includes organizing for acquisition. The firms prepare itself for effective acquisition by acknowledging value creation logic that can be acquired through acquisition. This results into post-integration success. In the next phase, firms go through deal structuring and negotiations. In this phase, firms prepare themselves for negotiation bids to takeover other firms. This involves, developing defence strategy; selecting negotiation parameter and choosing advisor (Hansen, Foldmand Hansen 2014). In the following stage, post-acquisition integration the functioning of the operations are included. In this phase, the post-merger valuation is evaluated and delivered. The four kinds of post-acquisition integrations are: p revention; holding company; symbiosis and absorption. The five stage model ends with post-acquisition audit and organizational learning. The companies who are eager to develop in order to attain success in the M A process, it is necessary for them to acquire core competence and proficient in it (Karniouchina et al. 2013). Proper strategy implementation and with capabilities, the firms learn how to attain success efficiently and apply further strategies in an effective manner. This model reflects how different process is implemented in the merger and acquisition in the energy sector. SWOT Analysis The internal and external factors influencing the M A strategy in the energy industry can be analyzed through Strength -Weakness- Opportunity- Threat analysis. Strength Weakness: The primary motivation behind M A is the economies of scale. This is the main operating synergies of the merging planners. The smaller firms are more benefitted by the M A strategy as they can enjoy significantly low cost of production. This is the foremost strength of this policy. The major internal weakness of this strategy is that M A strategy involves huge investment. Therefore, by huge cash the acquisition is possible. Managers with less opportunity may use the cash flow in the unprofitable merging venture. The managers with great cash flow may try to destroy the value generated in the M A process. Extra amount of cash held by the companies of energy sector often hinders the long term investment like exploration. Opportunity Threats: The firms face the gap between the capacity of production. As a result of this, the values of the assets reduce. Therefore, there will be a decline in the return to capital that has been already invested. The firms with excess capacity find resources in order to resolved the issues. This is the opportunity for the firm to enjoy the benefits of excess capacity (Kolk, Lindeque, and Buuse 2013). In addition to this, the focus of the corporate and opportunity of market control is a inducing factor of the M A strategy. The threat of this strategy is that the plan of the energy sector may fail due to poorly managed resources. Moreover, deregulation in the energy sector might change the scenario, as there is modification in the industrial structure. The competition may tend to vary after implementation of M A strategy. This is a threat of this strategy as it leads to overestimation or underestimation about the value generation. Benefits and Challenges of Merger and Acquisition By the term Merger, it is meant that firms are operating together as a single entity. In this process the merged firm will have large share of market with lower level of competition. These firms enjoy large economies of scale. This would enable the firm to lowering the average cost of production and this would also enable the firms to charge lower price to the customers. This strategy also helps in competing in the global market and helps in challenging the rivals. This also increases value of the company by improving revenue generation. Since merging brings the firms together, the values of the shareholders are also greater in the new company. Therefore, as a whole merger will bring more profits but this is a risky venture. Merger improves the quality of goods. In energy sector, merging requires huge investment; hence, it is risky but highly profitable. The redundancy is eradicated with greater amount of efficiency. This strategy safeguards the company from shutting down. Those firm s struggle to stay alive due to drastic fall in the oil price, they consider merging as a convenient options. During drop in the oil price, the firm acquisitions of the big companies increase their market power and sell the good at the competitive rate. The acquisition involves buying distributor; acquiring the business; supplier and even the competitors. Acquisition removes the entry barrier in the energy sector. The firms are able to access more resources. The collaboration like acquisition offers lower risk than developing or investing in new product, as risk associated with new techniques of managing financial risks is less due to acquisition strategy (Cartwright and Cooper 2012). Developing completely new product has more probability of failure. Acquisition is of more beneficial when acquisition is more related, i.e. product of similar category or related to same supply chain. The competitive scope increases with dependency of the firm. When the companies are struggling with market related problems, like fall in oil price, then to cope with the situation acquisition is beneficial. The s trong company purchases the weak one and the new firm is considered to be more efficient in terms of cost. Acquisition by parent company combines with other one, which in turn increases scale of operations. Acquired firm can have more market share and attain more competitiveness than the weaker situation of the firms before acquisition. The synergies between the firms of the energy sector enable more improvement within the firm then their separated counterpart. Acquisition allows sharing of management expertise of the oil and gas sector. These firms have more access to stronger financial base and capital resource base. However, with innumerable benefits, merger also faces some challenges. Merging needs to follow some legal formalities that are quite long process. Differences in the culture of firms are one of the major drawbacks. The consumers also have less choice of products due to merger and acquisition. When the acquisition is aggressive in nature, this tends to retrenchment of unproductive labour. Due to this situation, the retained workers also fear of losing job, which distract them from their performance. Acquisition also reduces the competition from the market as new firms attain monopoly power over price. The objectives of the associated firms may cause conflict as they are different in nature. Merging also takes huge costs that increase debt of the firms. Debt is not good for the firms. The firms fell into financial struggle. This in turn reduces the credit rating of the firms (Shimizu 2012). Moreover, firms before M A already have strong customer base. The newly merged firms may not fu rther create further market for sales. M A can be failed due to several reasons, for example, over expectation about the expansion; companies engage in huge over investment. Ineffectiveness of the administration eradicates advantageous prospects of the M A strategy (KamiÃâ¦Ã¢â¬Å¾ski 2014). Acquisition is also suffers from integration difficulty. The targets of the firms of the energy sector are not evaluated adequately. When potential firm evaluates target firm, due to overestimation, the company might pay high premium for the target firm. It is very likely that the firm underestimates the costs and overestimates the synergy. In the oil and gas sector, the diversification leads to low performance. The alliance firms may have conflict of interest among them. Personal motive of any of the firm may lead to failure of this strategy. The lack of motivation behind M A activities resulted into wrong target firm selection. The status of economy due to significant decline in the oil pr ice, merged or acquired firms encounters difficult challenges in operating successfully. Conclusion The perpetual fall in the oil price since 2014, leads to fall in revenue in the energy sector. As a result of this, the companies under this industry involved them in the merger and acquisition. This report discussed about the scenario of the energy sector in the recent years. It has mentioned how the energy companies have been facing challenges due to decline in oil price and involvement in the M A process. Two academic models have been discussed in the above section; such as, Five stage model of Merger Acquisition and SWOT analysis of the industry. The paper also identified benefits and drawbacks of the M A strategy. Some of the examples of current merger and acquisition has also been mentioned in this report. References Cartwright, S. and Cooper, C.L., 2012.Managing Mergers Acquisitions and Strategic Alliances. Routledge. 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