Trx Case

1. How does the strategic repositioning of the company and the use of the IPO as an exit for minority shareholders affect the attractiveness of the IPO? The strategic repositioning of the company was to gradually shift away and exist from customer care which TRX generated more than 50% in 2000, and Davis’s long term strategy was to focus on the higher margin sectors, such as data transaction and integrations. By shifting away from customer care, of course would reduce operational cost and increase bottom line for the company but I think it would affect the attractiveness of the IPO in negative way.If I was an investor I would be in agreement with TRX only if they were reducing the customer care due to the high operating cost, but I mean reducing, not totally exist. In the service based company, interacting with end consumers is critical even know it has lower margin but the company should be able to profit from it, if it continues to operate in the future which I believe would create higher customer satisfaction and strong long term relationship with end-consumers.Davis decided to use the strategy to make the financial data looking good or positioning the company for the IPO which he knows that he was going to do in the future because the company need capital to support the firm’s growth, however to exist a sector was not good way to start with the risk that they might have lower customer satisfaction, as the company went IPO, any negative issues would tank the company’s shares if they were not in good relation with end consumers.Davis had chance to improve the attractiveness of the IPO, he had two options; first one was go ahead with the IPO at the lower price of $9 per share, then he had to deal with Hogg Robinson whose intention was to exit TRX, and Sabre whose was in its best interest to sever the relationship with TRX. Their lack of agreement would eventually block the IPO, in order to prove the attractiveness of the IPO; Davis has to convince those two companies to agree upon the price so the proper managerial plan could carry forward.Second, David would just wait for some time to grow the company and complete the exit from the customer care business before the next IPO attempt while increase higher margin businesses. The use of the IPO as an exit for minority shareholders would eventually help the company better alignment of his stakeholders while offering liquidity for those minority shareholders an â€Å"easy out† which would increase the attractiveness of the IPO for small investors. 1. Estimate a preliminary file range for TRX’s shares.CSFB had prepared a valuation of the file price range by comparing TRX to comparable publicly traded companies, there are really no direct competitors as a result there were not going to be perfect comparable company. The methods CSFB and TRX’s management believed are best for them are both enterprise and price earnings multiples which would bring the com pany credit for its strong cash flow and an improving earnings outlook. In the EXHIBIT 9, by using enterprise multiple methods which a measure of a company's value, often used as an alternative to straightforward market capitalization.Enterprise value is calculated as market cap plus debt, minority interest and preferred shares minus total cash and cash equivalents. Base on the result estimated from 2005-2006, the enterprise for online travel sector were around 15, for Payment Processors were about 10 and for distribution is around 7. The calculation is based on CSFB’s financial projections on its own research and forecasts of TRX’s business, and is more conservative if compared to TRX’s management’s forecasting.The second method is price earnings, it is a valuation of a company’s current share price compared to its per share earnings and we calculated it by taking market value per share divided it by earnings per share, the ratio for online travel is around 25, for payment processors is about 20, for distribution is around 17, a high price earning suggests that investors are expecting higher earnings growth in the future compared to companies with a lower price earnings. For those two methods, a 15% discount was applied to this equity value based on the banker’s belief that a newly public firm would not trade at the same value as a seasoned firm.The proposed IPO filing ranged based on analysis should be set at least $11 to $13 per share. However, due to the investor demand during the time of TRX’s road show were really low, and the final IPO offer price will have to be $9 in order to attract more or enough investors. Technology changes so fast and brutal to make it more serious, Davis’s long term goal as discussed in question 4 might not be as good as it really is due the uncertainties of being in such shifting and fast moving tech world, it is very likely that TRX might or ight not fail, we don’t know but if the company did not keep up with the skilled workforce and future prospects, it would put the company in a very difficult position even after IPO, if they are lucky, there could be some big investor jump in and take over the company but the chance are too low because TRX’s is still too young in terms of operation, and even know that the revenue have been steadily increasing, the net income were still negative and there were too many I considered red flags in the financial statement, for example, goodwill on TRX’s balance sheet have increased dramatically from 2003-2004, and current portion of long term debt almost 7 times as higher than previous year, all those factors be main contributor to the future’s success of the company. One last thing is that while the TRX is going public, two of its main investors want to exit; if I am an investor, I wouldn’t want to invest in the company. 2.Given the situation Davis faced in September 2005, what wou ld you recommend that he do with respect to the offering? The situation Davis faced in September 2005 was tough, but the situation could be solved if he could convince Hogg Robinson, and Sabre which I recommend him to signify all the positive aspects of TRX such that they have strong relationship between majority shareholder in BCD technology, and present the fact that due to the 911 incident, the travel industry had experienced some serious headwinds and should be recover as matter of time soon in the future and company will started to make profit if IPO is successfully launched, and proper managerial plan is implemented.Besides, some strength such that its ability to automate and engineer travel and travel related processes, if Hogg Robinson and Sabre agreed to the $9 price, then Davis should proceed with the IPO which will help TRX to raise capital to support growth and accelerate the transition away from customer care, when the company started to grow so their stock price should start to increase too therefore making up the difference of the company’s expectation. I would recommend him do whatever he could at his best to proceed the IPO and I think it is the best option for the company. Otherwise chose the second option which is to withdraw the IPO and allow TRX time to grow and complete the exit from the customer care businesses, and some of TRX’s operational uncertainty would also be reduced because the time might not be right as Delta and Northwest Airlines declared bankruptcy and the overall difficulties and risk as being a technology company.The first dimension be a proper fit, TRX cannot define all major problems and issues that is facing probing and analytical investment, and its products and services were only few, the information about the future perspective of the company given by the Davis were too simple, the only thing that he mentioned again and again is that the company need capital to expand and support growth. The company has the working capital deficit almost four times higher by comparing from 2001-2005 and two investment companies for TRX have declared they want to exit even when the TRX want go to public which would indicate that there are something wrong within the company or perhaps they just aren’t in agreement about that fact that the company is going public so TRX is not proper fit in the first dimension. Second, sharing of ownership seems to be a bit problem, as Davis have indicated that going public offered liquidity for minority shareholders, and lead to a better alignment of his stakeholders.As what it sounds like that Davis did not really want to give up majority of its shares to other companies therefore is not fit on this dimension too. Third dimension is investors appeal, Davis and TRX management met with investment bank which they selected Credit Suisse First Boston because CSFB had strong analyst coverage in the online travel and data transaction sector which Davis believed wou ld help investors understand TRX’s business model therefore they do fit in this dimension in terms of helping investors to understand their business model. Fourth one is the amount raised in capital for the company, Davis decided to officially start the IPO process with a proposed IPO of 6. 8 million shares of common stock, 3. 4 million primary share, and 3. 4 million secondary shares.Even though they have all the shares planed out, Davis did not give any clear idea of how much the company really need to expand and how much ownership he is willing to abandon, as a result I will state that TRX did not meeting this dimension. Fifth, the purpose and timing of the IPO, Davis has been thinking about going public since 2000, but due to the dot-come bubble burst, he was forced to abandon its IPO. After carefully exam the technology IPO market performance, Davis finally decided to file an S-1 registration statement with the U. S. SEC. on May 9, 2005. In term of purpose and timing, Da vis has been very carefully, I think that he knows that he needs this success in IPO in order to support the company.

Inspiration: Disability and Final Lap

Disability and Final Lap BY cancans Inspiration: Life Is Like photography. You need the negatives to develop. Do you always think of what people say about you? Does It affect your dally basis and break down your motivation and inspiration? Always try to avoid negative people, they feed on your reaction and if they see you being affected by what they say or do, they'll keep doing it. If paralysis had their minds posted to the bad comments people give, they would've never reached success.The reason why I chose the Paralytics instead of the Olympics as inspiration, is the fact that paralysis are disabled and they need o work so much harder to gain a certain goal. Their disability can easily break their will to keep on working towards these goals as well as their mindset and motivation. Being disabled keeps you humble because you know what it feels like to have nothing, to lose something very important like their legs etc. Or to work twice as hard as people with no disability.It's like a little voice that whispers to them â€Å"maybe† when it seems like the whole world is shouting â€Å"no†. Paralysis never know how strong they are, until being strong is the only choice they have. That is why they are an inspiration to so many people. They teach you that discipline Is the distance between reality and your dreams and you need to appreciate the little things In life because one day you're going to look back and realize that it was the big things.People tend to be more inspired by disabled people because even though they have lost something they still work hard to gain something to replace what they've lost. They know, when you truly want success, you'll never give up on it. No matter how bad the situation may get. Of course what they do are challenging but challenges are what make life Interesting and overcoming them Is what makes life meaningful. They would also tell you that they never underestimate their strength and never overestimate their weakness es and that's why most of them are humble.At the Olympics in London in the year 2012, there was four deferent swimmers: One with both arms and Just one leg, one with both arms and no legs, one with half an arm and the most important one, one with no arms. To start the swimming competition you have to jump in the water and hold on to the blocks. The man with no arms couldn't so they tied a ball on a piece of string and attached the string to the block and he put the ball In his mouth. He swam the fastest fifty meters anyone could've ever seen.In the first lap he was in the lead and everyone was standing for two reasons: one, he is winning and two, how is he going to turn? He slowed down, bumped his head turned. The second lap was breast stroke, not his strongest and at the end of the second lap he dropped down to third place. He turned for the third lap. This time it's the butterfly . He gets to the end of the third lap and dropped down to fourth place. He turns for the final lap. Th is time it's freestyle, his fastest stroke. He was quicker in the freestyle than any other stroke.In the final lap, this man went from fourth place to third, from third to second and with a meter to go, the crowd on their feet as his head Is in front of the man next to him. But he didn't win because the man next to order to succeed, your desire for success should be greater than your fear of failure and that's why he was happy with second place. His motivation was so powerful that he kept humble and gained his goal of succeeding in what he does. If you love what you do it will be the only way to great work. If you haven't found it yet, keep looking. Don't settle for something less than your goals you set for yourself.

Anti Jerk Control Of Hybrid Electric Vehicle Engineering Essay

Anti Jerk Control Of Hybrid Electric Vehicle Engineering Essay The report details the review done in the area of anti-jerk control of vehicles. It explains the phenomenon of driveline oscillations excited due to torsion of driveline at high engine torques causing unwanted longitudinal oscillations in vehicle body. Report starts with a broad introduction to the topic and lays down the aims and objectives of the research project. The aims and objectives of the project are to design an active feedback control for an electric motor of a hybrid electric vehicle to damp these undesirable oscillations. A summary review of previous research work done in this area is presented which defines the starting point of the project. Different techniques used for anti-jerk control in conventional vehicle are discussed. Basic approach to model based control design is presented in the report. An introduction to hybrid electric vehicle driveline and description of its components different from conventional vehicle is shown. The report also lays down the procedure o f the work to be followed for the research project with a project plan. INTRODUCTION The increasing pressure of protecting the natural environment and to decrease the dependence on non-renewable sources of energy has encouraged vehicle manufacturers to develop more clean and efficient power systems. As a result Hybrid vehicles are hot topic for research among vehicle manufacturers. Efforts are being made to make the vehicles more fuel efficient with high performance and minimum CO2 emissions. Diesel hybrids are considered as next big thing among ecological designs since diesel engines are 20 % – 30% more fuel efficient than their petrol counterparts. Nowadays noise, vibration and harshness (NVH) issues have become more important for a customer such that there are very stringent requirements for noise or vibration in a vehicle. Driveability of a vehicle is majorly impacted by NVH problems and is strongly felt as vehicle’s performance during various manoeuvres such as ac celeration, braking, gear change etc. Thus vehicle manufacturers and OEM’s have realized the importance of NVH issues and target to identify the root cause of vibration and incorporate the correcting measures at early stages of manufacturing with a main goal to refine the ride and driveability of a vehicle. These days’ efforts are being made to increase the performance of vehicles and to make them more fuel efficient by using different techniques and one of the techniques is electrification of various systems in a vehicle. Electronic power assist steering system, electric active roll control, electronic differential, brake by wire are some of the examples of electrification of vehicle systems. This kind of methodology becomes more evident in case of hybrid electric vehicles where electric power components including power electronics are integral part of the powertrain. It has been observed that using these electrification techniques not only helps in increasing the per formance of the vehicle but also makes them more fuel efficient. Thus the electrification in a diesel hybrid powertrain to improve the driveability of vehicle forms the main platform for this research project. Problem Statement One of the major NVH issues in automobiles is torsional vibrations of driveline. The torsion of drivetrain at high engine torques causes oscillations in driveline. These oscillations are generally excited by various sources such as rapid or sudden load/torque change, gear change and unevenness of road surface. These oscillations cause longitudinal acceleration in vehicle structure and passenger compartment of the vehicle, which reduces the comfort and driveability of the vehicle and are experienced as unwanted jerking by the driver and passengers. These type of driveline oscillations are termed as Jerking, which is the main focus of this research.

Environment Science Essay Example | Topics and Well Written Essays - 1250 words

Environment Science - Essay Example Another environmental issue is related to freeing the planet from the bad effects of carbon emissions by 2050 so that by 2100 carbon emissions are in required limits. A detailed energy system model has been developed to find the relation between the aims of 2050 and 2100. By using a computer simulation, future greenhouse gas emissions have been put on the test assuming there is no climate policy in practice. Implications of limiting emissions by 2050 have been analyzed on different levels. According to the study, current technologies won’t help in achieving the set targets for 2100. There are two options suggested: either reduce 20 percent below 2000 levels by mid-century to maintain the option for end-of-the-century or as per the rising needs of energy and land, the reduction should be 50 percent, which is unattainable with the given energy resources.According to the research team, more research needs to be made on technological feasibility for mid-and end-of-century emission deadlines to circumspect the issue.Science Daily has attracted the attention of its readers towards the South Asian monsoon the reason of which could be heat and moisture from the Himalayas. Basically, it is a climate issue on which the Harvard climate scientists have drawn attention. It is assumed that the Tibetan Plateau is the leading resource for generating heat resulting in the South Asian monsoon. The Harvard climate scientists believe that monsoon in the region is caused more due to the Himalayas and the adjoining mountains.

Community Work Research Paper Example | Topics and Well Written Essays - 1250 words

Community Work - Research Paper Example Although our community strives to provide diversity for all individuals in many ways Cascade Maryland lacks opportunities for ethnically diverse individuals. At my profession I often assisting in providing treatment to individuals composed of different races. Like many other individuals in our community I was born in America. My ancestors immigrated to America from Germany in 1785. According to Washington County Maryland (n.d.), our town was "a city founded by German immigrants in 1762" (pp. 2). Our community does not have a large foreign born population. Encountering individuals with accents is a rarity. From 1995-2000 the foreign born population was 0 (City-Data, n.d.). Community work manuals and texts are relevant to me as an individual. I believe these readings are meant to address people like me. I would imagine the minorities living in this community may struggle with understanding these work manuals; as they are not designed for them based upon their cultural make-up. Approximately 95% of individuals living in this community speak only English and no other languages at home (City Data, n.d.). The remaining five percent that utilize different langue at home are compiled by languages such as Spanish (.3%), European (1.9%), or Asian (2.8%). Perhaps the lack of cultural diversity can be attributed partially to the history of our state. Our state is home to many historical battle sites and monuments. Maryland being one of the thirteen original colonies formed was effected by west bound expansion during the 1800's leading many immigrants to settle in other states. Due to the geographical location of our state finding immigrants is not a common occur rence. In the past I have encountered skeptism from minorities I have treated in my profession. I remember during the O.J. Simpson murder trial talking to an African American woman about the trial. With the evidence present by the media we both agreed that we felt that he was guilty of the crime. Some time passed before the verdict in the trial was read and I thought very little about the conservation as I did not see the woman for treatment regularly. After the verdict was read the woman called my human resources department claiming that I was a racist. I do not believe my actions constituted racism as I was merely stating an opinion in the discussion we were having. The human resources department for the facility I work for did not believe this constituted racism either. However, I have learned not to discuss trials, politics, or other controversial views and/or opinions with the clients I treat out of fear for the potential negative ramifications that could occur for stating my opinion ; even when the client initially agrees with my opinion. Our community is composed equally of half women and half men. My age is slightly older than the rest of the community. Our community consists of people mainly child bearing age. My children are grown and on their own. I am the proud grandparent of seven grandchildren and a prouder great grandmother to two young children. . According toThe United States Census(2000),18.6% of the population is over the age of 55. Unlike few others in my community I am a widow. My husband died suddenly in 2007. Of the people in my community the widows 9% are widowed. Of this 9% the majority (7%) are women. I believe that the community is well represented politically

A Comparison Of Clinique Marketing Strategy Case Study

A Comparison Of Clinique Marketing Strategy - Case Study Example These three items were said to be the only products necessary for healthy skin. The parent company, Este Lauder, had already established itself as an icon in beauty and fragrance (Xenias), and over the years Clinique developed a positive brand image as well. In addition to the simplicity of their image, the company's Web site was equally simple-illustrations of products with very little or no text. But with businesses expansion taking place in order to reach global markets, the simplicity of Clinique's marketing strategy might not have the same effect in countries other than UK and USA. Purpose of Study China is the market of the future, and successful companies expanding their bases throughout the world see China as a necessary market. What are the differences in the way Clinique reaches domestic customers and customers in other cultures Will the 1-2-3 plan work in China What barriers must be faced Two recent articles included Clinique in a list of cosmetic companies accused of using harmful chemicals in their products in China (China Monitoring 2006; Overseas Companies 2006). At present the international Clinique Web site doesn't seem to offer a simple doorway into other countries, at least for researchers. Clinique does, as a way to reach Chinese customers, discuss a product called Clinique Derma White which focuses on Asian markets. Derma White is an update on Clinique's Active White line, developed by Korean dermatologists to address pigmentation in the skin. Derma White uses blackout yeast to break up pigment into smaller fragments and exfoliants help remove them from the skin (Clinique 2006). The Asian culture considers white skin to be beautiful, while Western countries and cultures seem to prefer tanning products. The emphasis on darker skin... The importance is in drawing customers to a specific site. With Clinique, marketing strengths include introducing new, innovative products directed at specific customers and the use of language in the product names which immediately describe their attributes, i.e. Superdefense Triple Action Moisturiser and Lifting Face Serum as well as Dramatically Different Moisturising Lotion, a standard of the company since its inception. A weakness, however, could be the company's apparent belief in a customer knowing who they are, what they do and how they do it. They are taking for granted that their products will sell themselves. Clinique has not even begun to tap the opportunities to sell their products through the Internet. Much of the research information on skin care is filtered through the Està ©e Lauder advertising and press releases. It is also important for them to be aware of negative commentary online which might affect their market share if they don't meet the challenge of offsetti ng negativity. At present one of the major efforts by Clinique is to increase the male customer base, and much of their advertising focus on that market. In the meantime, the female market might be discouraged when trying to get information on the products they want, especially in China, where women are not considered worth cultivating but are beginning to see themselves in a more attractive light. Another important market for Clinique is the aging population looking for anti-ageing products such as "Stop Signs" said to "make time stand still".

Entrepreneurship and Law Research Paper Example | Topics and Well Written Essays - 1250 words

Entrepreneurship and Law - Research Paper Example It can be attested that this is a huge step towards the promotion of entrepreneurial activities since it gives entrepreneurs the opportunity to contact more investors. In this relation, more laws and rules that are still oppressive and restrictive to the profitable activities of entrepreneurs should be revised to open more opportunities and help to enhance economies (Medved, 2013). However, since it is an activity that involves new technological advancements in relation to the use of social networking sites, it will be imperative to come up with new legislation and laws. This will create platforms through which the entrepreneurs and investors can conduct their operations in ways that are legally acceptable. In addition, they will serve as means through which internet crimes can be prevented hence the maintenance of social media security. The main item being brought up in this article is the activities of different entrepreneurs. These are the individuals who are occupied in the legal manufacture and sale of new psychoactive substances. However, they market them as â€Å"not for human consumption†. A great contradiction is highlighted in this article in the sense that drugs, which are usually considered as illegal substances can be legal, sold in areas such as Belgium hence the title ‘legal high†. According to the article, most people are putting an end to other business activities to get involved in the business of making drugs. This involves the production of powders and pills that are psychoactive in nature (Whalen & Zhang, 2010). In relation to this article, I think that the governing body at Antwerp and Belgium, in general, should conduct more research about these drugs that are considered to lie in between the legal and illegal zones. This is because it is a great indication that as much as they are legal they are not safe for consumption.  It is sustained by the fact that the producing entrepreneur admits that the Nopaine drug they manufacture â€Å"is every bit as good as cocaine†.

LOREAL BUILDING A GLOBAL COSMETIC BRAND. Pages 644- 651 of your main Case Study - 1

LOREAL BUILDING A GLOBAL COSMETIC BRAND. Pages 644- 651 of your main text Ghauri and Cateora text book (2010) - Case Study Example L’Oreal has managed to penetrate the market deeper because of the strength of its brand. Mostly, it is its association with top models and proper marketing that has aided the company to fly high. Amid strong competitive environment, L’Oreal has fully engrossed in one line of product production to achieve quality. Unlike its competitors who have diversified, L’Oreal has only opted to stay fixed to one line of production. Branding is a major asset of a company and through it; a company can either achieve market or financial advantage (Jayachandran 2004). A brand can be defined as a name which influences buyers. Throughout its entire period in the market L’Oreal has managed to grab the attention of customers. At the display of its products customers are easily evoked to make a purchase. L’Oreal has adopted a method of saliency, differentiation and intensity to market its products globally. Being an attention driven economy brand campaign is a requirement, bringing to the fore the major attributes of the product aids the sale of that product; these are the mechanisms which L’Oreal has incorporated in its strategy (Cant 2006). L’Oreal’s brand has been a certitude and risk reducer in the market. Each moment a customer comes across these products they feel contended about the quality and use of them. L’Oreal’s product images portray a quality and functional product which is essentially attractive in the eyes of the customers. It is these appealing techniques which have spurred the growth of this company. A clear observation at the taglines of the company is a sign that its planning mechanisms are up to date; ‘because you are worth it’. These Cathy taglines are what pull customers continually to remain loyal in the company’s products. It gives a sense of caring and concern to customers in the market (Little & Marandi 2003) The logo chosen by the company is a simple and easily interpreted

Academic and Professional Development Assignment

Academic and Professional Development - Assignment Example The paper manages to set up questionnaires that were used to capture accounting students’ attitude towards plagiarism. The questionnaires were administered to accounting students in both undergraduate and post graduate levels. The final results were then analyzed and comparisons were made (Yeo, 2007, p.12). Previous empirical studies have discovered a number of factors that relate to student plagiarism such as environmental factors, demographic variables and moral capability. However, none of the research has ever considered comprehensive factors of plagiarism (Barrett and Cox, 2005, p. 14). Most of the previous studies have often tested linear relationships between constructs instead of constructing the validity of hypothesized models. Considering the collection of data, all the previous studies sampled only undergraduate students and not post graduate students (Bornstein, 2007. p.17). This paper introduces a number of factors that have been left out in the previous empirical studies into a hypothesized model, for instance, accounting education (Bretag and Carapiet, 2007, p.19). The objectives of the paper is to identify factors that influence the plagiaristic behaviors of students, to develop and empirically test a model of factors that influence students plagiaristic behaviors and to make recommendations for accounting educators prevent student plagiarism. The paper has empirically tested and developed a model of factors that influence student plagiarism within the context of accounting education. 2. Analysis The internet is no doubt the major cause of plagiarism amongst students as the paper suggests. There internet has a lot of information that students can access without having to read a lot of books from the library. The internet has been expanding rapidly with information from a number of sources and this has facilitated plagiarism. There has also been the development of a number of online software that is used to detect plagiarism ((Sierles, Hen drickx, and Circle, 1980, p.29). Some of these online software include Turnitin and grammarly.com that are used to detect work that has been plagiarized. Approximately sixty percent of UK institutions use Turnitin to detect work that has been plagiarized. When lectures discover that students have plagiarized their work, they often penalize students. These penalizations are what make students fear plagiarizing their work. Students who intend to gain academic qualifications are expected to reveal appropriate levels of attainment and ability through examinations and coursework. This requires students to produce submissions that meet a certain assignment specification that is marked by a tutor to confirm that the work reaches the required standard. In most institutions, students are required to confirm that the submission is the result of their own work. Plagiarism may also occur when students self-plagiarize their work. Self plagiarism is usually a delicate and complex issue. Some acad emics argue that self plagiarism may not occur because plagiarism is theft and one cannot steal from himself. The major types of self plagiarism include duplicate and redundant publications, partitioning a larger sturdy into smaller published studies. The paper mentions plagiarism but fails to mention self plagiarism, which is one of the major concerns in academics. Students often plagiarize their previous works because of their laziness or to complete their work faster. The paper reviews nine factors that concern student plagiarism and these factors include demographic variables, cultural influences, institutional support, and new technology, accounting educat

Hemingway's Personal Life and its Influence on his Short Story, Hills Research Paper

Hemingway's Personal Life and its Influence on his Short Story, Hills Like White Elephants - Research Paper Example ling to give them space and do not realize the damage they cause to their psyche due to over-protectiveness or outright suppression of their rights and individuality. Ernest Miller Hemingway was born on July 21, 1899 in Oak Park, Illinois and he was the second child of his parents Grace Hall and Clarence Edmonds Hemingway. After graduation, he shifted to Kansas City and joined as a cub reporter for the Star Newspaper. The ongoing World War excited him and he joined Red Cross as an ambulance driver. He was injured in the war and during the course of his recuperation, he met Agnes von Kurowsky. Hemingway took the relationship seriously but Agnes treated him as a kid. He returned to America to be honored as a war hero. With the termination of relationship with Agnes, Hemingway was heart-broken. In Chicago, when on freelance assignments, he met Hadley Richardson and they got married in 1921. Both of them moved to Paris, on the advice of a friend, to live in association with other writers. That move brought Hemingway to the limelight in the world of literature. In Paris he did some writing for the Toronto Star newspaper. Soon the marriage with Hadley ended, but Hemingway remarried Pauline Pfeiffer and they moved to Key West, Florida. His father committed suicide and his writing was interrupted. By then Hemingway had taken to heavy drinking. The marriage again was on the rocks and he went to Spain accompanied by his new love Martha Gellhorn. In 1940, he divorced Pauline. They jointly bought a house in Cuba and World War II broke out and Hemingway went to Europe to cover the war. Martha was already there to work. Their relationship however ended in 1945. He was in love again and he married Mary Welsh in the year 1946.They returned to Cuba and Hemingway was on his writing assignments again. The next phase in his life was full of tragedies. Ernest and Mary were enjoying a safari in Africa, and they were involved in a plane crash. The injuries were minor and the rescue

Knowledge and reality Essay Example for Free

Knowledge and reality Essay The quest for knowledge remains a perplexing problem in the field of philosophy. Even nowadays mankind continue to seek to understand himself and the world around him he is thirst to know were exactly our knowledge comes from. The question of knowledge appears to be a battle between the empirisists who believed that knowledge is acquired through sense experience and the rationalists who believed that knowledge can only be required through reasoning. Although there are a lot of people who abides with these groups in my essay in my essay I will only deal with John locke who in this case argues that knowledge is acquired throughsense experience thereby representing the empirisists group and Rene Descartes who argues that knowledge comes fronm reasoning thereby representing the rationalists. Diffrent scholars have also shown their appreciation to the work which was done by the two groups. Rene Descartes who is the rationalist have claimed that the ultimate starting point for knowledge is is not the senses but reason. According to Cottingham,Descartes argues that knowledge of a particular subject matter is underwritten by intuition or rational insight and deductive reasoning rather than experience of that subject matter(1984). Descartes in this case is of the opinion that the only way one can acquire knowledge is through deductive reasoning ,reasoning that aims at exactitude. In one way or other that exactitude is the one which we can now call knowledge Descartes maintain that without prior categories and principles supplied by reason wen could not organise and interrupt one’s sense experience in any way (Kenny:1986). In this case one would be faced with just one huge ,undifferentiated,kaleidospic whirl of sensation ,signifying nothing(Kenny:1986). Rationalism in its purest form goes so far as to hold that al our rational beliefs and the entirety of human knowledge consists in human principles and innate concepts. According to Russel Descartes believes that men are born with innate ideas or ideas that we are born with (1946:548). He argues that those innate ideas are generated and certified by reason along with anything logically deducable these first principles. Furthermore on innate ideas ,a number of mankind still how can reason supply ay mental category or first principle at all? The question is a bit easy for such people like Descartes who claimed that we are born with several fundamental concepts or categories in our minds ready for use(Stitch:1975). Descartes went own to argue that this gives us innate knowledge . This might be through certain categories of space ,time,cause and effect. In one way or other Descartes argues that people thinks in terms of cause and effect and this helps one’s experience of the world(Stitch:1975). A ccording to Stitch Descartes argues that people think of themselves as seing some things causing other things to happen,but in terms of our raw sense experience ,one sees certain things happen before other thing happen and remember having seen such before and after the sequences at earlier times (1975). One can come up with an example like ,a rock hits the window and then the window breaks. We don’t see the third thing called causation but we believe it has happened. The rock hitting the window caused it to break but this is not experienced like the fight of the rock or the shattering of the glass. Descartes argues that experience does not seem to force the concept of causation on us. On this case Descartes bis denying the fact that knowledge comes fron sense experience but reasoning. Descartes also claimed that the foundations of our knowledge are propositions that are self-evidently true. A self-evident proposition has the strange property of being such that ,on merely understanding what it says and without any further checking or special evidence of any kind. One can just intellectually see that it is true(Caruthers:1992). If A is greater than B the B is greater than C and therefore A is greater than C. In this example the claim is that once these statements are understood ,it takes no further sense experience whatsoever to see that they are true . Descartes was athinker who used sceptical doubt as a prelude to constructing a retionalist philosophy. He was convinced that all our beliefs that are founded on the experience of the external senses could be called into doubt ,but that with certain beliefs like ‘I am thinking’,there is n o room for creating and sustaining a reasonable doubt(Pojman:1991:72). Descartes then tried to find enough other first principles with immune to rational doubt that he could provide an indubitable ,rational basis for all other legitimate beliefs. According to Pojman Descartes thought that mathematics gave a paradigm or model of certain knowledge or of attaining such knowledge (1991:73). He argued that mathematical knowledge is based on self evident axioms ,or first principles. In this case those principles are clear and distinctly persued as self-evident and in other words they are indubitable that is to say it is hard to doubt them. They are intrinsically valid on self-certifying . Dscartes argues that once we have such self-evident truths ,then with the rules of reasoning or logic ,theories can be validly deduced from them (Spinoza:1905). Descartes wanted to apply the method of philosophy as he argued that in mathematics ther is no appeal to sense experience . Human reasoning is the sole source of mathematical knowledge (Spinoza:1905). In this case Descartes claimed that by poor reasoning one can achieve knowledge. It was this method of doubt that Descartes used to get at the indubitable starting point which will be unshakable foundation of the edifice of knowledge hence to doubt means to think and think means to be(Pojman:1991). On the other hand we have the empirialists who in this case are being represented by John Locke. Locke is of the view that knowledge is acquired through sense experience. Locke was actually influenced by Descartes writings in which Descartes was arguing that knowledge comes from reasoning and the issue of innate ideas. According to Pojman Locke believes that the senses we maintain ,gives us all our raw data about the world and without this raw material their would be no knowledge at all(Pojman:1991:83). To Locke perception starts a process and from this process come all our beliefs . In its purest form ,Locke and his collegues believes that sense experience alone gave birth to all our knowledge. Locke was influenced by Descartes writings because what Descartes believes was the opposite of what Locke and his collegues believed mostly on the issue of innate ideas hence he decided to put on his suggestion on were exactly our knowledge comes from. Locke argues that innate ideas are suppose to be inborn ideas and they are their in the human mind since birth (Locke:1894). He argues that these ideas are neither created by us nor derived from our experiences. Locke argues that the human mind is a ‘tabula rasa’ meaning to say it is blank and it looks like a white sheet of paper without any content or ideas. According to Pojman there are no inborn ideas in the human mind(Pojman:1991). Ideas denote the content of human mind and consciousness. This then supports the idea that all ideas spring from experiences. According to Spinoza ,Locke argues that all knowledge is formed as and ultimately derived from sensational or inner reflection(1905) To add more the empirisists argue thatideas acquired through sensation and reflection are simple ideas. According Russel Locke argues that the mind has the power to reject ,compare and combine them to then form complex ideas(1946:551) . The simple ideas are the materials of the mind or consciousness. The mind elaborates them in defferent ways and this knowledge is developed(Russel:1946:551)Simple ideaas in this case are thus produced in the mind by the outer things through external experiences and simple ideas posseses valididty. The two theories presents different ideas on were exactly we get knowledge but I think I am convinced with the theory of Descartes which says knowledge is acquired through reason. Although the theory was mainly meant for the mathmaticians I think it is good for me because a men ought to reason so as to find knowledge. To me reasoning shows that someone really is thinking deeper so as to find whatever he wants . The method of doubt which he uses convince me also because I think through doubting you will be able to find knowledge. The Christians might want to say Thomas was wrong but in one way or other Thomas made Christians to know that realy the man they saw was Jesus and Christians were made to believe that really there is resurrection and this was through doubting Thomas. I cant just believe what I have not see without doubting because nowadays people tend to lie so as to get whatever they want in their lives . Therefore the theory of Descartes to me is good one on how we aquire knowledge . ? BIBLIOGRAPHY Carruthers. P.(1992)Human knowledge and human nature,Oxford: Oxford University Press’ Cottingham. J. (1984)Rationalism,London:Palada books. Fieser. P. (1991) Introduction to Philosophy. Oxford:Oxiford University Press Kenny. A. (ed). (1986)Rationalism,Empiricism and Idealism ,Oxiford:Oxiford University Press Locke. J. (1690)An essay on human understanding. (ed)R. Woolhouse. (1997). London:Panguin Books Louis. P. (2007)The theory of knowledge ,classical and temporary readings. Belment CA:Wadsworth Stitch. S. (ed)(1975)Innate ideas ,Berkely CA:Carlifonia University Press Russell. B. (1912)History of Western Philosophy . Oxiford:Oxiford University Press.

Elasticity Paper Essay Example for Free

Elasticity Paper Essay Introduction A consumer walking through the grocery store intent on purchasing the necessary ingredients for a peanut butter and jelly sandwich notices the prices for all brands of peanut butter are higher than expected. Will this consumer choose to not purchase peanut butter and buy bread and jelly only? By raising the price of peanut butter the retailer risks selling less bread and jelly in addition to reduced peanut butter sales. If the same consumer went to another grocery store and found only one brand of peanut butter priced higher than the others, the elasticity principle of substitution will apply. The consumer will pick a different brand of peanut butter and follow his original plan to purchase bread and jelly. Complementary Products Complementary products are, goods used in conjunction with other goods (Colander, 2013, pg.136). The law of elasticity in relation to complementary products shows that when the price of a product increases or decreases it will have an impact on the demand for complementary products, in this case resulting in lower sales of those products. In the example above the desired meal is a peanut butter and jelly sandwich. The elasticity in the price of peanut butter will force the consumer to spend more money and buy the peanut butter with its complementary products of jelly and bread. If the elasticity of the price increase is too great for the consumer and the consumer chooses to purchase tuna fish, jelly manufacturers will see reduced sales. Manufacturers and retailers must understand the relationship between their products and the complementary products of their product. Another example of complementary products is an ink jet printer and the ink cartridges (Living Economics, 2013). The l aw of demand states that when the price of an inkjet printer falls, then the quantity demanded will rise. When consumers purchase  more printers, then more ink will be purchased. On the other hand, when the price of the printer increases, quantity demanded will decrease leading to fewer printer purchases, also leading to a reduction in ink cartridge purchases. In both instances when prices increase consumers will look for substitute products. Substitute Products Demand for a substitute product is determined by timeframe, the degree of luxury, and the importance on ones budget (Colander, 2013, pg. 130). A substitute is a good with a positive cross elasticity of demand. In practice, this means that its demand will increase when another products price increases. For example, Coke and Pepsi represent major rivals, and when Coke introduces a price increase, the need and demand for Pepsi will increase. Consumers will substitute when one product in competition with another chooses to increase their price, as shoppers typically choose the lower price. â€Å"The more substitutes a good has, the more elastic is its demand† (Colander, 2013, pg. 131). Some consumers will agree that generic store brand products easily replace more expensive name brand products. When the prices for name brand products rise, consumers will switch to the generic brands in order to save money. The demand for the name brand products is very elastic at that point. Conclusion â€Å"Cross-price elasticity of demand is defined as the percentage change in demand divided by the percentage change in the price of a related good† (Colander, 2013, pg. 136). The result of positive cross-price elasticity is represented by goods consumers substitute when their desired product is too expensive. Consumers will find substitutes for most products, and competition is a good thing for consumers. When the result of cross-positive elasticity is negative, complementary products will see a decrease in demand for those products. Reference Colander, D. C. (2013). Microeconomics (9th ed.). New York, NY: McGraw- Hill/Irwin. Living Economics, (2013). Complements and substitutes. Retrieved from http://livingeconomics.org/article.asp?docId=289

Interior Castle Or The Mansions Theology Religion Essay

Interior Castle Or The Mansions Theology Religion Essay In both Lakoff and Johnsons Metaphors We Live By and Teresa of Avilas Interior Castle or The Mansion there is a discussion of metonymy in relation to metaphor, both of which are significant crucial concepts in St. Teresas Christian conceptual metaphorical system. Within this paper I shall formulate an argument proving that St. Teresas Christian conceptual metaphorical system is coherent and falls within Lakoff and Johnsons conceptual metaphorical systems guidelines on the grounds that Teresas system appeases Lakoff and Johnsons definitions of metaphor and metonymy and all the sub-classes. In order to validate my argument I will make reference to the Teresas Interior Castle outlining the structure of her metaphorical system by covering the metaphor and metaphor sub-classes used along with identifying the target and source domains entailed in the system. Teresas Christian conceptual metaphorical system has three primary conceptual metaphors: IN GOD, IN MANSION, and IN SOUL. Teresa uses a JOURNEY metaphor to talk about the path to achieving spiritual union with God. According to Tim Perrine, St. Teresa of Avila wrote The Interior Castle as a spiritual guide to union with God. Teresa received her inspiration for this work from a religious experience she had. God gave Teresa a vision that showed her a crystal globe that contained seven mansions within it. At the centre of the globe, residing in the deepest mansion is God. Teresa interpreted this religious experience as an allegory which reveals the way for ones soul to take a journey to achieve union with God by reaching the seventh inner most mansion. The soul must go on a journey to become united with God in the seventh mansion. Each mansion represents a step closer to reaching God or climbing another level on a ladder. The Crystal Castle with seven different mansions is a metaphor re presenting the soul. The rooms closest to the seventh were able to receive a glimpse of the essence of God which resided in the seventh room. From the outside of the Crystal Castle the lights cannot be seen because darkness and impurity surrounds the outside of the castle. If one on this journey to reach the seventh room succumbs to temptation and falls victim to the devils torment, the light that was once emanating from the seventh room where God resides will as a result of being infected by sin, disappear and the venomous animals that were once held outside the Crystal Castle by Gods divine light will be able to enter the castle. In the first mansion the concern is the souls state of purity. A soul in the first mansion is surrounded by sin and is only able to reach God by seeking his divine grace through preaching humility. The second mansion is also a mansion where one practices prayer daily. The soul can only advance on its journey by humility, recognition of God in the soul and daily prayer. The third mansion is the mansion of exemplary life whereby one has such a love for God in their soul. Their soul also truly disl ikes all form of sin and the soul has a longing to do works of charity in the name of almighty God. In the fourth mansion the soul opens itself up to God, relying on him for everything and becomes purer as God increases his influence. The fifth mansion contains the initial stage of union with God whereby the soul opens itself up to embody Gods grace in order to receive his gifts. The soul commits to marry. Teresa refers to the soul as a silkworm which feeds on the sustenance of God. The soul enters a cocoon like state in order to transform into a butterfly which embodies part of Gods divine light. In the sixth mansion the soul and God are like lovers. In this mansion the soul receives an increasing amount of favors from God but is also faced with outside afflictions. In the seventh mansion the soul succeeds on its journey to achieve spiritual marriage with God as a result of the soul acquiring clarity in prayer. When one partakes in sins their soul is unable to partake in the journe y to reach God. One must be able to acquire humility and self-knowledge to understand the works of God. Once an individual on their journey learns to truly understand humility and self-knowledge they will realize the beauty of the soul as a result of Gods light. All our goodness and that good works that come from ones good are authored by God. The strength and power of ones will is strengthened by what lays behind that door of the seventh room in the Crystal Castle. The journey inside oneself that takes place in the crystal castle is likened to degrees of prayer by Teresa. One entered within themselves and penetrates the depths of their soul while gaining perfect self-knowledge along the way which ultimately leads to one reaching the seventh room where God is waiting. One who has perfect self-knowledge is able to become unified with Gods grace through a union with him which allows those who reach the seventh room to take part in his light and love. à ¢Ã¢â€š ¬Ã‚ ¦ the soul grows and profits by its communication with God (Teresa, 23), we suffer from a self-ignorance that is curable if o ne seeks to cure it. Not enough inward reflection is given to the beauty of the soul. When one doesnt reflect upon their soul which is innate they are unable to receive gifts that soul may possess, they are unable to see who is inside the soul or how important a role the soul can play in their life. à ¢Ã¢â€š ¬Ã‚ ¦souls without prayer are like bodies, palsied and lame, having hands and feet they cannot use.(Teresa, 43). In order to enter the castle and begin this journey into the soul one must take part in prayer and meditation. The mind must take part in this prayer, repetition praying and not taking God into consideration is not praying. Those typically found residing in the first mansion in the castle are typically those who self reflect occasionally and pray a few times a month. Usually these individuals are concerned with materialistic things. Teresa says that it is still possible for these individuals to realize the state of their soul on the road it is currently travelling and make adjustments and changes in their lives to set their soul on a positive path. Those who choose to do this begin the journey that takes place inside their soul which is referred to as the crystal or diamond castle. Those who enter the first rooms are followed by numerous venomous reptiles which are a metaphor for sin and the torments of hell. The sin of an individual creates these creatures which attempt to blind the individual from seeing the divine light of God which resides at the center of the castle in the seventh mansion When mortal sin is present in the soul it obscures Gods divine grace. Teresa uses a metaphor to describe what m ortal sin does to the soul, à ¢Ã¢â€š ¬Ã‚ ¦the sun in the centre of the soul, which gave it such splendour and beauty, is totally eclipsed. (Teresa, 46). The soul that is in mortal sin is separated from God and no longer a part of him. It has been tainted which causes the crystal which is a metaphor for the soul to become dark and unable to reflect the bright sun. The soul is like a crystal in the sunshine over which a thick black cloth has been thrown, so that however brightly the sun may shine the crystal can never reflect it. (Teresa, 47). Crystal is used as a metaphor to refer to a tainted mortal sin soul, throwing a black cloth over a clear crystal that was once able to reflect the sun will no longer be able to do so. The meaning behind this is that sinning taints the soul and creates a disconnection between an individual and God. As long as that thick black cloth is there, the soul will not be able to experience what the bright sun representing Gods divine grace has to offer. Teresa refers to the soul as a tree which is planted by a river. The tree receives life from the sun which enables it to bear fruit. The sun is a metaphor for God and the fruit that comes from the tree are metaphors for good deeds and good actions. Thus, God is the initiator behind those good deeds. When in the first mansion within the crystal castle one is able to be humble on this journey and that one individual should only think of God when doing any good deed or action. In the second mansion one is taught how important prayer is to reach God. One must retire into them self in order to truly know thyself; without retiring into the soul to contemplate life and ones actions, heaven will always be out of their reach. In the second mansion the soul is able to take more charge on its spiritual journey. Those who reach the third mansion are those who realize the issues that arise when one trusts in their own strength. The individuals in the third mansion live a balanced life which is achieved through prayer, penance, charity, and abstaining from sin. Through this the individual is able to go farther in their spiritual journey to become a part of Gods divine grace. In this stage of the journey the individual who has been able to enter the third mansion will have their soul baptized in the Holy Spirit. As a result of this the individual on their spiritual journey has their soul opened up and is filled with the gifts God has given them through the Holy Spirit. Teresa states that An earthy king may have subjects yet all do not enter his court (Teresa, 41). This is a metaphor which refers to those disciples of God on their spiritual journey. God may have many children and followers but this does not mean everyone is granted access into his kingdom in heaven. Nor should anyone assume that because they are a follower or believer in Him that they will automatically gain access into the kingdom because of this. On the spiritual journey in the soul those who enter each mansion will learn to be jumble and realize that they are a servant of God and entering his kingdom is something one earns by journeying within oneself and joining God in the seventh mansion. Humility is the ointment for our woundsà ¢Ã¢â€š ¬Ã‚ ¦God, who is our Physician, will come and heal us. (Teresa, 45). Teresa uses a metaphor for humility by describing it as the ointment for our wounds; she makes a point to concentrate on humility because one should learn to be humble in order to succeed on this spiritual journey. Teresa refers to God as a physician who will heal our wounds; this metaphor is used to show that no matter what one must go through on this journey God will always be there to heal the wounds of those who seek him. On this spiritual journey in the soul one must have e an everlasting unyielding love for God. According to Teresa true love for God is one of the essential things one must learn to pay à ¢Ã¢â€š ¬Ã‚ ¦no attention to the weaknesses of nature which might retard us. (Teresa, 45). God will look after the individual on their spiritual journey and reward them in proportion to their great love for God. Teresa presents a metaphor of nestling baby birds that are taught by watching elder birds. Their flight makes us try to soar, like nestlings taught by the elder birds, who, though they cannot fly at first, little by little imitate their parents: I know the great benefit of this. (Teresa, 47) This metaphor is used to teach that one should not give up if they find a trial on this spiritual journey difficult, they should consult a person who is detached from the worldly things and seeks spiritual marriage with God. Just like a baby bird learning to fly is taught by the elder more experienced bir d to fly, an individual on a spiritual journey trying to reach unity with God should consult an elder who has learnt how to get through trials and tribulations in order to become one with God. Their soul is not yet strong enough and may succumb to the suffering that their soul will be exposed to during the trials on their spiritual journey. In the fourth mansion one must practice the prayer of the quiet; this prayer is quiet and passive which allows one to travel deeper on their spiritual journey in to the soul where they meet with the divine grace of God. The soul is no longer dependant on the individuals will but becomes dependant on God. The natural and supernatural meet in this mansion; the soul receives natural understanding from God, this can be thought of as the mind being impregnated with wisdom directly from the gifts of God. Teresa uses a metaphor to explain two types of prayer one will use in the fourth mansion. The metaphor uses two fountains with basins that fill with water; these fountains are filled two different ways. One fountain receives its water from a distance that travels through numerous waterworks and pipes. The other fountain receives its water directly from the source which is the spring, no machinery or aqua-ducts are needed. The water that runs through the waterworks and pipes represents sens ible devotion which is obtained through meditation. This water is obtained through the results of an individuals endeavors which are thoughts, labor of ones mind, and meditating on created things. The fountain that receives the water directly from the spring itself is a representation for God. Prayer of Quiet or divine consolation receives supernatural favors directly from God himself just like the fountain which receives water directly from the spring. This greatness from God that presents one with divine joy is presented in the soul itself according to Teresa. This transition between the two fountains represents the individual on this spiritual journey breaking away from the bonds they once had with the outside world in order to be able to enter deep prayer which focuses on the importance of love; true love that flows directly from the spring itself which is God. On page sixty-three, Teresa presents another IN metaphor. We should rather abandon our souls into the hands of God, leaving him to do as he chooses with us, as far as possible forgetting all self-interest and resigning ourselves entirely to himself. (Teresa, 63) God is a container metaphor whereby the soul which is the target domain of the source domain. The source domain is interior castle that has seven mansions one must go through in order to achieve union with God. The journey present here is a spiritual journey where the soul must enter IN the interior castle in order to become one with God through spiritual union. God is the container object in the container metaphor along w ith the interior castle which is also the container object of the container metaphor. Throughout the rest of the journey IN the interior castle the soul opens itself up to receive more gifts from God, ultimately leading up to the seventh mansion which is the mansion of spiritual marriage where the individuals soul becomes one with God through spiritual union.

Analysis of Shakespeares The Tempest - Heart Of The Savage :: free essay writer

The Tempest: The Heart Of The Savage Caliban the deformed savage on the island from his first appearance in the play is more animal than human. Prospero first refers to Caliban by calling him a, "tortoise" (1.2.318). This sets the tone for Caliban's character in the play as he is labeled as a semi-beast in the play. But interestingly despite Caliban's deformed body and animal like appearance he possess remarkable eloquence that gives him power. Prospero, a renaissance prince even with his velvety language only equals Caliban in eloquence. In some ways this dichotomy between Caliban's appearance in the play and his remarkable gift for language creates a magical and mysterious atmosphere in the play. It complicates the relationship between Caliban and Prospero for although Prospero claims to own his savage his savage speaks not like one who is owned. Caliban from his first appearance in the play speaks with a remarkable eloquence despite his deformed image, "As wicked dew as e'er my mother brushed/ With raven's feather from unwholsome fen/ Drop on you both!" (1.2.324-326). These lines show how Caliban speaks in the same eloquent tongue that Prospero speaks with. His lines are long and his words are filled with imagery: "wucked dew", "unwholesome fen", "raven's feather". Caliban doesn't in the play ever seem to be at a loss for words when describing his situation. Later in Act 1 Scene 2 Caliban describes how he once the island was his. Caliban acts like a tour guide for the reader describing the water, berries, toads, and beetles of the island. In this passage through language Caliban is able to once again recreate the past when he was not a slave. Caliban despite his position as a slave to Prospero in the physical world in the world of language, Caliban is Prospero's equal. Because of this when staging Caliban's passage we need to re-create this mysterious dynamic between Caliban and Prospero. Caliban must appear like beast more resembling and animal then a human being. But he should also exude a hidden power that befits his eloquent speech. In Act 3 Scene 2 Caliban speaks to Stefano and Trinculo with a magical rhythm that incorporates the images of dreams and air. Because of this when staging this scene Caliban should be a wild looking beast who speaks with a eloquent voice. In addition lights should be focussed on his huddled and animal like figure to give him the semblance of power.

The Charge of the Light Brigade and Attack Essay -- Alfred Lord Tennys

The Charge of the Light Brigade and Attack ' The Charge of the light Brigade' by Alfred Lord Tennyson and 'Attack' by Siegfried Sassoon are two very dissimilar poems. Both of them are on the same topic of war but have many contrasts in how they treat the subject matter, war. The main difference between these two poems is the audience that they were written for. Tennyson, as poet laureate, was written for public reading, but Sassoon's work which showed more emotion and feeling, was therefore more of a private poem. The poems' tone and mood are very different. Tennyson's poem is a triumphant, victorious and celebratory poem. This is because the Victorians did not want to read about defeat, as it was not considered honourable, so Tennyson praises the men who died in the charge. He writes, "Boldly they rode and well," and, "While horse and hero fell." Tennyson also tells us that they were fearless and did everything without query. " Theirs not to make reply. Theirs not to reason why." In the last verse of the poem Tennyson asks all people to, "Honour the Light Brigade, Noble six hundred!" Even in defeat Tennyson portrays the men as heroes. In contrast Sassoon created a sinister and threatening mood. His poem contains a mysterious haunting quality revealing the shocking brutality of what war was really like. Instead of portraying the men who fought as brave and fighting without question, he says they were, "Masked with fear," when they had to go over the top to meet the "Bristling fire". It is clever the way he uses bristling to depict the gunfire because by this he makes out that the gunfire is heavy. He also says, "Lines of grey, muttering faces," which depicts a questioning attitude, which is a com... ...een lines. ' Attack has thirteen lines.) The two poems are written from two points of view, and have very different purposes. Tennyson is reflecting on an event that had happened ten years beforehand and an event that he himself was not involved him. He was writing to commemorate those that had died during the charge. By the way he has written the poem, he seems to think that war was very honourable, even in defeat Sassoon however had experienced war, and really knew what it was like to be in the front line, ( unlike Tennyson). The purpose of his poem was to tell people what war was really like. How it was frightening and sad. He clearly and blatantly had a negative view of war, as he says in his last line, "O Jesus, make it stop!" and thinks of war as dishonourable and futile, " And hope with furtive eyes and grappling fists, flounders in the mud."

An Internship and My Interest in Medicine Essay -- Medicine College Ad

Admissions Essay - An Internship and My Interest in Medicine    How does a hospital run without adequate water to develop X-ray films? What are the signs and symptoms of malaria? What is the most common cause of infant mortality worldwide? These are all questions to which I learned answers during my six-week clerkship in rural South Africa. That a well-rounded education is the mark of a true scholar is a belief I acquired from my high-school education, and in that spirit I flew off to try and understand some of the important issues in the changing South African health care system.    I learned more than I had anticipated was possible and can easily conclude that studying abroad is one of the quickest, most memorable, and most enjoyable ways of broadening one's education. Furthermore, it teaches lessons that are not possible to learn at home.    Tinswalo Hospital, where I worked, is small. The number of hospital beds is approximately 92, and the faculty (consisting of doctors, nurses, pharmacists, translators, and administrators) is fewer than 200. The population that the hospital serves, on the other hand, is large - approaching 200,000. Although Nelson Mandela has been increasing government funds for this and other public hospitals, diagnostic and treatment supplies are scarce. Deciding how to distribute scarce resources among a large population is a common, complicated topic in African... ...p; The world is becoming a smaller place. People are increasingly communicating across cultures and discovering how similar their problems are. These experiences encourage broad-mindedness. In addition to the traditional education, a physician studying abroad may become naturally interested in health care politics and the cultural aspects of disease developments, and may obtain a general global perspective. He or she also will learn that doctors bring their personal water from home to rural hospitals for developing X-rays in times of drought; that the most common symptoms of malaria are fever, nausea, and diarrhea; and that diarrhea and dehydration are the most common causes of infant mortality in the world.

E Commerce

E-commerce advantages and disadvantages E-commerce provides many new ways for businesses and consumers to communicate and conduct business. There are a number of advantages and disadvantages of conducting business in this manner. E-commerce advantages Some advantages that can be achieved from e-commerce include: †¢Being able to conduct business 24 x 7 x 365 . E-commerce systems can operate all day every day. Your physical storefront does not need to be open in order for customers and suppliers to be doing business with you electronically. Access the global marketplace . The Internet spans the world, and it is possible to do business with any business or person who is connected to the Internet. Simple local businesses such as specialist record stores are able to market and sell their offerings internationally using e-commerce. This global opportunity is assisted by the fact that, unlike traditional communications methods, users are not charged according to the distance over which they are communicating. Speed. Electronic communications allow messages to traverse the world almost instantaneously. There is no need to wait weeks for a catalogue to arrive by post: that communications delay is not a part of the Internet / e-commerce world. †¢Marketspace. The market in which web-based businesses operate is the global market. It may not be evident to them, but many businesses are already facing international competition from web-enabled businesses. †¢Opportunity to reduce costs. The Internet makes it very easy to ‘shop around' for products and services that may be cheaper or more effective than we might otherwise settle for. It is sometimes possible to, through some online research, identify original manufacturers for some goods – thereby bypassing wholesalers and achieving a cheaper price. †¢Computer platform-independent . ‘Many, if not most, computers have the ability to communicate via the Internet independent of operating systems and hardware. Customers are not limited by existing hardware systems' (Gascoyne & Ozcubukcu, 1997:87). †¢Efficient applications development environment – ‘In many respects, applications can be more efficiently developed and distributed because the can be built without regard to the customer's or the business partner's technology platform. Application updates do not have to be manually installed on computers. Rather, Internet-related technologies provide this capability inherently through automatic deployment of software updates' (Gascoyne & Ozcubukcu, 1997:87). Allowing customer self service and ‘customer outsourcing'. People can interact with businesses at any hour of the day that it is convenient to them, and because these interactions are initiated by customers, the customers also provide a lot of the data for the transaction that may otherwise need to be entered by business staff. This means that some of the work and costs are effectively shifted to customers; this is r eferred to as ‘customer outsourcing'. †¢Stepping beyond borders to a global view. Using aspects of e-commerce technology can mean your business can source and use products and services provided by other businesses in other countries. This seems obvious enough to say, but people do not always consider the implications of e-commerce. For example, in many ways it can be easier and cheaper to host and operate some e-commerce activities outside Australia. Further, because many e-commerce transactions involve credit cards, many businesses in Australia need to make arrangements for accepting online payments. However a number of major Australian banks have tended to be unhelpful laggards on this front, charging a lot of money and making it difficult to establish these arrangements – particularly for smaller businesses and/or businesses that don't fit into a traditional-economy understanding of business. In some cases, therefore, it can be easier and cheaper to set up arrangements which bypass this aspect of the Australian banking system. Admittedly, this can create some grey areas for legal and taxation purposes, but these can be dealt with. And yes these circumstances do have implications for Australia's national competitiveness and the competitiveness of our industries and businesses. As a further thought, many businesses find it easier to buy and sell in U. S. dollars: it is effectively the major currency of the Internet. In this context, global online customers can find the concept of peculiar and unfamiliar currencies disconcerting. Some businesses find they can achieve higher prices online and in US dollars than they would achieve selling locally or nationally. Given that banks often charge fees for converting currencies, this is another reason to investigate all of your (national and international) options for accepting and making online payments. In brief, it is useful to take a global view with regard the potential and organisation of your e-commerce activities, especially if you are targeting global customers. †¢A new marketing channel. The Internet provides an important new channel to sell to consumers. Peterson et al. 1999) suggest that, as a marketing channel, the Internet has the following characteristics: †¢the ability to inexpensively store vast amounts of information at different virtual locations †¢the availability of powerful and inexpensive means of searching, organising, and disseminating such information †¢interactivity and the ability to provide information on demand †¢the ability to provide perceptual experiences that are far superior to a printed catalogue, although not as rich as personal inspect ion †¢the capability to serve as a transaction medium the ability to serve as a physical distribution medium for certain goods (e. g. , software) †¢relatively low entry and establishment costs for sellers †¢no other existing marketing channel possesses all of these characteristics. Some of these advantages and their surrounding issues are discussed below in further detail. E-commerce disadvantages and constraints Some disadvantages and constraints of e-commerce include the following. †¢Time for delivery of physical products . It is possible to visit a local music store and walk out with a compact disc, or a bookstore and leave with a book. E-commerce is often used to buy goods that are not available locally from businesses all over the world, meaning that physical goods need to be delivered, which takes time and costs money. In some cases there are ways around this, for example, with electronic files of the music or books being accessed across the Internet, but then these are not physical goods. †¢Physical product, supplier & delivery uncertainty . When you walk out of a shop with an item, it's yours. You have it; you know what it is, where it is and how it looks. In some respects e-commerce purchases are made on trust. This is because, firstly, not having had physical access to the product, a purchase is made on an expectation of what that product is and its condition. Secondly, because supplying businesses can be conducted across the world, it can be uncertain whether or not they are legitimate businesses and are not just going to take your money. It's pretty hard to knock on their door to complain or seek legal recourse! Thirdly, even if the item is sent, it is easy to start wondering whether or not it will ever arrive. †¢Perishable goods . Forget about ordering a single gelato ice cream from a shop in Rome! Though specialised or refrigerated transport can be used, goods bought and sold via the Internet tend to be durable and non-perishable: they need to survive the trip from the supplier to the purchasing business or consumer. This shifts the bias for perishable and/or non-durable goods back towards traditional supply chain arrangements, or towards relatively more local e-commerce-based purchases, sales and distribution. In contrast, durable goods can be traded from almost anyone to almost anyone else, sparking competition for lower prices. In some cases this leads to disintermediation in which intermediary people and businesses are bypassed by consumers and by other businesses that are seeking to purchase more directly from manufacturers. †¢Limited and selected sensory information. The Internet is an effective conduit for visual and auditory information: seeing pictures, hearing sounds and reading text. However it does not allow full scope for our senses: we can see pictures of the flowers, but not smell their fragrance; we can see pictures of a hammer, but not feel its weight or balance. Further, when we pick up and inspect something, we choose what we look at and how we look at it. This is not the case on the Internet. If we were looking at buying a car on the Internet, we would see the pictures the seller had chosen for us to see but not the things we might look for if we were able to see it in person. And, taking into account our other senses, we can't test the car to hear the sound of the engine as it changes gears or sense the smell and feel of the leather seats. There are many ways in which the Internet does not convey the richness of experiences of the world. This lack of sensory information means that people are often much more comfortable buying via the Internet generic goods – things that they have seen or experienced before and about which there is little ambiguity, rather than unique or complex things. †¢Returning goods. Returning goods online can be an area of difficulty. The uncertainties surrounding the initial payment and delivery of goods can be exacerbated in this process. Will the goods get back to their source? Who pays for the return postage? Will the refund be paid? Will I be left with nothing? How long will it take? Contrast this with the offline experience of returning goods to a shop. †¢Privacy, security, payment, identity, contract. Many issues arise – privacy of information, security of that information and payment details, whether or not payment details (eg credit card details) will be misused, identity theft, contract, and, whether we have one or not, what laws and legal jurisdiction apply. †¢Defined services & the unexpected . E-commerce is an effective means for managing the transaction of known and established services, that is, things that are everyday. It is not suitable for dealing with the new or unexpected. For example, a transport company used to dealing with simple packages being asked if it can transport a hippopotamus, or a customer asking for a book order to be wrapped in blue and white polka dot paper with a bow. Such requests need human intervention to investigate and resolve. †¢Personal service . Although some human interaction can be facilitated via the web, e-commerce can not provide the richness of interaction provided by personal service. For most businesses, e-commerce methods provide the equivalent of an information-rich counter attendant rather than a salesperson. This also means that feedback about how people react to product and service offerings also tends to be more granular or perhaps lost using e-commerce approaches. If your only feedback is that people are (or are not) buying your products or services online, this is inadequate for evaluating how to change or improve your e-commerce strategies and/or product and service offerings. Successful business use of e-commerce typically involves strategies for gaining and applying customer feedback. This helps businesses to understand, anticipate and meet changing online customer needs and preferences, which is critical because of the comparatively rapid rate of ongoing Internet-based change. †¢Size and number of transactions. E-commerce is most often conducted using credit card facilities for payments, and as a result very small and very large transactions tend not to be conducted online. The size of transactions is also impacted by the economics of transporting physical goods. For example, any benefits or conveniences of buying a box of pens online from a US-based business tend to be eclipsed by the cost of having to pay for them to be delivered to you in Australia. The delivery costs also mean that buying individual items from a range of different overseas businesses is significantly more expensive than buying all of the goods from one overseas business because the goods can be packaged and shipped together. E Commerce Electronic commerce, commonly known as e-commerce or ecommerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDILinventory management systems, and automated data collection systems.Modern electronic commerce typically uses he World Wide Web at least at one point in the transaction's life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices, social media, and telephones as well. Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions. This is an effective and efficient way of communicating within an organization and one of the most effective and useful ways of conducting business. E-commerce can be divided into:E-tailing or â€Å"virtual storefronts† on websites with online catalogs, sometimes gathered into a â€Å"virtual mall† Buying or Selling on various websites and/or online marketplaces The gathering and use of demographic data through Web contacts and social media Electronic Data Interchange (ED'), the business-to-business exchange of data E-mail and fax and their use as media for reaching prospective and established customers (for example, with newsletters) Business-to-business buying and selling The security of business transactions Types of e-commerce[edit] The major different types of e-commerce are:Business-to-Business (82B): 82B e-commerce is simply defined as e-commerce between companies. This is the type of e-commerce that deals with relationships between and among businesses. About 80% of e-commerce is of this type, and most experts predict that 82B e- commerce will continue to grow faster than the B2C segment. The 82B market has two primary components: e-frastructure and e-markets. Business-to-consumer (B2C): Business-to-consumer e-commerce, or commerce between companies and consumers, involves customers gathering information; purchasing physical goods i. . , tangibles such as books or consumer products) or information goods (or goods of electronic material or digitized content, such as software, or e-books); and, for information goods, receiving products over an electronic network. It is the second largest and the earliest form of e-commerce. Business-to-Government (826): Business-to-government e-commerce or B2G is generally defined as commerce between companies and the public sector. It refers to the use of the Internet for public procurement, licensing procedures, and other government-related operations.This kind of e-commerce has two features: first, the public sector assumes a pilot/ leading role in establishing e-co mmerce; and second, it is assumed that the public sector nas the greatest need tor making its procurement system more ettective. Web- based purchasing policies increase the transparency of the procurement process (and reduces the risk of irregularities). To date, however, the size of the B2G e- commerce market as a component of total e-commerce is insignificant, as government e-procurement systems remain undeveloped. Consumer-to-consumer (C2C):Consumer-to-consumer e-commerce or C2C is simply commerce between private individuals or consumers. This type of e-commerce is characterized by the growth of electronic marketplaces and online auctions, particularly in vertical industries where firms/businesses can bid for what they want from among multiple suppliers. It perhaps has the greatest potential for developing new markets. Mobile Commerce (m-commerce): M-commerce (mobile commerce) is the buying and selling of goods and services through wireless technology-i. e. , handheld devices suc h as cellular telephones and personal digital assistants (PDAs).Japan is seen as a global leader in m-commerce. As content delivery over wireless devices becomes faster, more secure, and scalable, some believe that m-commerce will surpass wireline e-commerce as the method of choice for digital commerce transactions. This may well be true for the Asia-Pacific where there are more mobile phone users than there are Internet users. Governmental regulation[edit] In the United States, some electronic commerce activities are regulated by the Federal Trade Commission (FTC). These activities include the use of commercial e- mails, online advertising and consumer privacy.The CAN-SPAM Act of 2003 establishes national standards for direct marketing over e-mail. The Federal Trade Commission Act regulates all forms of advertising, including online advertising, and states that advertising must be truthful and non-deceptive. [24] Using its authority under Section 5 of the FTC Act, which prohibits u nfair or deceptive practices, the FTC has brought a number of cases to enforce the promises in corporate privacy statements, including promises about the security of consumers' personal information. [25] As result, any corporate privacy policy related to e- ommerce activity may be subject to enforcement by the FTC.The Ryan Haight Online Pharmacy Consumer Protection Act of 2008, which came into law in 2008, amends the Controlled Substances Act to address online pharmacies. [26] Internationally there is the International Consumer Protection and Enforcement Network (ICPEN), which was formed in 1991 from an informal network of government customer fair trade organisations. The purpose was stated as being to find ways of co-operating on tackling consumer problems connected with cross-border transactions in both goods and services, and to help ensure exchanges of nformation among the participants for mutual benefit and understanding.From this came Econsumer. gov, an ICPEN initiative since April 2001. It is a portal to report complaints about online and related transactions with foreign companies. There is also Asia Pacific Economic Cooperation (APEC) was established in 1989 with the vision of achieving stability, security and prosperity for the region through free and open trade and investment. APEC has an Electronic Commerce Stearing Group as well as working on common privacy regulations throughout the APEC region. In Australia,Trade is covered under Australian Treasury Guidelines tor electronic commerce, [27] and the Australian Competition and Consumer Commission[28] regulates and offers advice on how to deal with businesses online,[29] and offers specific advice on what happens if things go wrong. [30] Also Australian government e-commerce website[31] provides information on e-commerce in Australia. In the United Kingdom, The FSA (Financial Services Authority)[32] is the competent authority for most aspects of the Payment Services Directive (PSD).The UK implemente d the PSD through the Payment Services Regulations 2009 (PSRs), which came into effect on 1 November 2009. The PSR affects firms providing payment services and their customers. These firms include banks, non-bank credit card issuers and non-bank merchant acquirers, e-money issuers, etc. The PSRs created a new class of regulated firms known as payment institutions (Pls), who are subject to prudential requirements. Article 87 of the PSD requires the European Commission to report on the implementation and impact of the PSD by 1 November 2012. 33] Forms[edit] Contemporary electronic commerce involves everything from ordering â€Å"digital† ontent for immediate online consumption, to ordering conventional goods and services, to â€Å"meta† services to facilitate other types of electronic commerce. On the institutional level, big corporations and financial institutions use the internet to exchange financial data to facilitate domestic and international business. Data integri ty and security are very hot and pressing issues for electronic commerce.Aside from traditional e-commerce, m-Commerce as well as the nascent t- Commerce[34] channels are often seen as the current 2013 poster children of electronic I-Commerce. Global trends[edit] In 2010, the United Kingdom had the biggest e-commerce market in the world when measured by the amount spent per capita. [35] The Czech Republic is the European country where ecommerce delivers the biggest contribution to the enterprises' total revenue. Almost a quarter (24%) of the countrys total turnover is generated via the online channel. 36] Among emerging economies, China's e-commerce presence continues[when? ] to expand. With 384 million internet users, China's online shopping sales rose to $36. 6 billion in 2009 and one of the reasons behind the huge growth has been the improved trust level for shoppers. The Chinese retailers have been able to help consumers feel more comfortable shopping online. [37] China's cross- border e-commerce is also growing rapidly. E-commerce transactions between China and other countries increased 32% to 2. 3 trillion yuan ($375. 8 billion) in 2012 and accounted for 9. % of China's total international trade [38] Other BRIC countries are witnessing the accelerated growth of ecommerce as well. In Russia, the total ecommerce market is projected to total somewhere between 690 billion rubles ($23 billion) and 900 billion rubles ($30 billion) in 201 5, at 2010 values. This will equal 5% of total retail volume in Russia. Longer-term, the market size of Russian e-commerce could reach $50 billion by 2020. Brazil's ecommerce is growing quickly with retail ecommerce sales expected to grow at a healthy double-digit pace through 2014.By 2016, eMarketer expects retail ecommerce sales in Brazil to reach $17. 3 billion. [39] India's ecommerce growth, on the other hand, has been slower although the country's potential remains solid considering its surging economy, the rapid growth of internet penetration, English language proficiency and a vast market of 1. billion consumers (although perhaps only 50 million access the internet throug n PCs and some estimate the most active group of e-commerce customers numbers only 2-3 million). E-commerce traffic grew about 50% from 2011 to 2012, from 26. 1 million to 37. million, according to a report released by Com Score. Still much of the estimated 14 billion dollars in 2012 ecommerce was generated from travel sites. ecommerce is also expanding across the Middle East. Having recorded the world's fastest growth in internet usage between 2000 and 2009, the region is now[when? ] home to more than 0 million internet users. Retail, travel and gaming are the region's top ecommerce segments, in spite of difficulties such as the lack of region-wide legal frameworks and logistical problems in cross-border transportation[citation needed].E-commerce has become an important tool for small and large businesses worldwide, not only to s ell to customers, but also to engage them. [40][41] In 2012, ecommerce sales topped $1 trillion for the first time in history. [42] Impact on markets and retailers[edit] Economists have theorized that e-commerce ought to lead to intensified rice competition, as it increases consumers' ability to gather information about products and prices.Research by four economists at the University of Chicago has found that the growth of online shopping has also affected industry structure in two areas that have seen significant growth in e-commerce, bookshopsand travel agencies. Generally, larger firms are able to use economies of scale and offer lower prices. The lone exception to this pattern has been the very smallest category of bookseller, shops with between one and four employees, which appear to have withstood the trend. [43] E Commerce Electronic commerce, commonly known as e-commerce or ecommerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDILinventory management systems, and automated data collection systems.Modern electronic commerce typically uses he World Wide Web at least at one point in the transaction's life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices, social media, and telephones as well. Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions. This is an effective and efficient way of communicating within an organization and one of the most effective and useful ways of conducting business. E-commerce can be divided into:E-tailing or â€Å"virtual storefronts† on websites with online catalogs, sometimes gathered into a â€Å"virtual mall† Buying or Selling on various websites and/or online marketplaces The gathering and use of demographic data through Web contacts and social media Electronic Data Interchange (ED'), the business-to-business exchange of data E-mail and fax and their use as media for reaching prospective and established customers (for example, with newsletters) Business-to-business buying and selling The security of business transactions Types of e-commerce[edit] The major different types of e-commerce are:Business-to-Business (82B): 82B e-commerce is simply defined as e-commerce between companies. This is the type of e-commerce that deals with relationships between and among businesses. About 80% of e-commerce is of this type, and most experts predict that 82B e- commerce will continue to grow faster than the B2C segment. The 82B market has two primary components: e-frastructure and e-markets. Business-to-consumer (B2C): Business-to-consumer e-commerce, or commerce between companies and consumers, involves customers gathering information; purchasing physical goods i. . , tangibles such as books or consumer products) or information goods (or goods of electronic material or digitized content, such as software, or e-books); and, for information goods, receiving products over an electronic network. It is the second largest and the earliest form of e-commerce. Business-to-Government (826): Business-to-government e-commerce or B2G is generally defined as commerce between companies and the public sector. It refers to the use of the Internet for public procurement, licensing procedures, and other government-related operations.This kind of e-commerce has two features: first, the public sector assumes a pilot/ leading role in establishing e-co mmerce; and second, it is assumed that the public sector nas the greatest need tor making its procurement system more ettective. Web- based purchasing policies increase the transparency of the procurement process (and reduces the risk of irregularities). To date, however, the size of the B2G e- commerce market as a component of total e-commerce is insignificant, as government e-procurement systems remain undeveloped. Consumer-to-consumer (C2C):Consumer-to-consumer e-commerce or C2C is simply commerce between private individuals or consumers. This type of e-commerce is characterized by the growth of electronic marketplaces and online auctions, particularly in vertical industries where firms/businesses can bid for what they want from among multiple suppliers. It perhaps has the greatest potential for developing new markets. Mobile Commerce (m-commerce): M-commerce (mobile commerce) is the buying and selling of goods and services through wireless technology-i. e. , handheld devices suc h as cellular telephones and personal digital assistants (PDAs).Japan is seen as a global leader in m-commerce. As content delivery over wireless devices becomes faster, more secure, and scalable, some believe that m-commerce will surpass wireline e-commerce as the method of choice for digital commerce transactions. This may well be true for the Asia-Pacific where there are more mobile phone users than there are Internet users. Governmental regulation[edit] In the United States, some electronic commerce activities are regulated by the Federal Trade Commission (FTC). These activities include the use of commercial e- mails, online advertising and consumer privacy.The CAN-SPAM Act of 2003 establishes national standards for direct marketing over e-mail. The Federal Trade Commission Act regulates all forms of advertising, including online advertising, and states that advertising must be truthful and non-deceptive. [24] Using its authority under Section 5 of the FTC Act, which prohibits u nfair or deceptive practices, the FTC has brought a number of cases to enforce the promises in corporate privacy statements, including promises about the security of consumers' personal information. [25] As result, any corporate privacy policy related to e- ommerce activity may be subject to enforcement by the FTC.The Ryan Haight Online Pharmacy Consumer Protection Act of 2008, which came into law in 2008, amends the Controlled Substances Act to address online pharmacies. [26] Internationally there is the International Consumer Protection and Enforcement Network (ICPEN), which was formed in 1991 from an informal network of government customer fair trade organisations. The purpose was stated as being to find ways of co-operating on tackling consumer problems connected with cross-border transactions in both goods and services, and to help ensure exchanges of nformation among the participants for mutual benefit and understanding.From this came Econsumer. gov, an ICPEN initiative since April 2001. It is a portal to report complaints about online and related transactions with foreign companies. There is also Asia Pacific Economic Cooperation (APEC) was established in 1989 with the vision of achieving stability, security and prosperity for the region through free and open trade and investment. APEC has an Electronic Commerce Stearing Group as well as working on common privacy regulations throughout the APEC region. In Australia,Trade is covered under Australian Treasury Guidelines tor electronic commerce, [27] and the Australian Competition and Consumer Commission[28] regulates and offers advice on how to deal with businesses online,[29] and offers specific advice on what happens if things go wrong. [30] Also Australian government e-commerce website[31] provides information on e-commerce in Australia. In the United Kingdom, The FSA (Financial Services Authority)[32] is the competent authority for most aspects of the Payment Services Directive (PSD).The UK implemente d the PSD through the Payment Services Regulations 2009 (PSRs), which came into effect on 1 November 2009. The PSR affects firms providing payment services and their customers. These firms include banks, non-bank credit card issuers and non-bank merchant acquirers, e-money issuers, etc. The PSRs created a new class of regulated firms known as payment institutions (Pls), who are subject to prudential requirements. Article 87 of the PSD requires the European Commission to report on the implementation and impact of the PSD by 1 November 2012. 33] Forms[edit] Contemporary electronic commerce involves everything from ordering â€Å"digital† ontent for immediate online consumption, to ordering conventional goods and services, to â€Å"meta† services to facilitate other types of electronic commerce. On the institutional level, big corporations and financial institutions use the internet to exchange financial data to facilitate domestic and international business. Data integri ty and security are very hot and pressing issues for electronic commerce.Aside from traditional e-commerce, m-Commerce as well as the nascent t- Commerce[34] channels are often seen as the current 2013 poster children of electronic I-Commerce. Global trends[edit] In 2010, the United Kingdom had the biggest e-commerce market in the world when measured by the amount spent per capita. [35] The Czech Republic is the European country where ecommerce delivers the biggest contribution to the enterprises' total revenue. Almost a quarter (24%) of the countrys total turnover is generated via the online channel. 36] Among emerging economies, China's e-commerce presence continues[when? ] to expand. With 384 million internet users, China's online shopping sales rose to $36. 6 billion in 2009 and one of the reasons behind the huge growth has been the improved trust level for shoppers. The Chinese retailers have been able to help consumers feel more comfortable shopping online. [37] China's cross- border e-commerce is also growing rapidly. E-commerce transactions between China and other countries increased 32% to 2. 3 trillion yuan ($375. 8 billion) in 2012 and accounted for 9. % of China's total international trade [38] Other BRIC countries are witnessing the accelerated growth of ecommerce as well. In Russia, the total ecommerce market is projected to total somewhere between 690 billion rubles ($23 billion) and 900 billion rubles ($30 billion) in 201 5, at 2010 values. This will equal 5% of total retail volume in Russia. Longer-term, the market size of Russian e-commerce could reach $50 billion by 2020. Brazil's ecommerce is growing quickly with retail ecommerce sales expected to grow at a healthy double-digit pace through 2014.By 2016, eMarketer expects retail ecommerce sales in Brazil to reach $17. 3 billion. [39] India's ecommerce growth, on the other hand, has been slower although the country's potential remains solid considering its surging economy, the rapid growth of internet penetration, English language proficiency and a vast market of 1. billion consumers (although perhaps only 50 million access the internet throug n PCs and some estimate the most active group of e-commerce customers numbers only 2-3 million). E-commerce traffic grew about 50% from 2011 to 2012, from 26. 1 million to 37. million, according to a report released by Com Score. Still much of the estimated 14 billion dollars in 2012 ecommerce was generated from travel sites. ecommerce is also expanding across the Middle East. Having recorded the world's fastest growth in internet usage between 2000 and 2009, the region is now[when? ] home to more than 0 million internet users. Retail, travel and gaming are the region's top ecommerce segments, in spite of difficulties such as the lack of region-wide legal frameworks and logistical problems in cross-border transportation[citation needed].E-commerce has become an important tool for small and large businesses worldwide, not only to s ell to customers, but also to engage them. [40][41] In 2012, ecommerce sales topped $1 trillion for the first time in history. [42] Impact on markets and retailers[edit] Economists have theorized that e-commerce ought to lead to intensified rice competition, as it increases consumers' ability to gather information about products and prices.Research by four economists at the University of Chicago has found that the growth of online shopping has also affected industry structure in two areas that have seen significant growth in e-commerce, bookshopsand travel agencies. Generally, larger firms are able to use economies of scale and offer lower prices. The lone exception to this pattern has been the very smallest category of bookseller, shops with between one and four employees, which appear to have withstood the trend. [43] E Commerce Electronic commerce, commonly known as e-commerce or ecommerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDILinventory management systems, and automated data collection systems.Modern electronic commerce typically uses he World Wide Web at least at one point in the transaction's life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices, social media, and telephones as well. Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions. This is an effective and efficient way of communicating within an organization and one of the most effective and useful ways of conducting business. E-commerce can be divided into:E-tailing or â€Å"virtual storefronts† on websites with online catalogs, sometimes gathered into a â€Å"virtual mall† Buying or Selling on various websites and/or online marketplaces The gathering and use of demographic data through Web contacts and social media Electronic Data Interchange (ED'), the business-to-business exchange of data E-mail and fax and their use as media for reaching prospective and established customers (for example, with newsletters) Business-to-business buying and selling The security of business transactions Types of e-commerce[edit] The major different types of e-commerce are:Business-to-Business (82B): 82B e-commerce is simply defined as e-commerce between companies. This is the type of e-commerce that deals with relationships between and among businesses. About 80% of e-commerce is of this type, and most experts predict that 82B e- commerce will continue to grow faster than the B2C segment. The 82B market has two primary components: e-frastructure and e-markets. Business-to-consumer (B2C): Business-to-consumer e-commerce, or commerce between companies and consumers, involves customers gathering information; purchasing physical goods i. . , tangibles such as books or consumer products) or information goods (or goods of electronic material or digitized content, such as software, or e-books); and, for information goods, receiving products over an electronic network. It is the second largest and the earliest form of e-commerce. Business-to-Government (826): Business-to-government e-commerce or B2G is generally defined as commerce between companies and the public sector. It refers to the use of the Internet for public procurement, licensing procedures, and other government-related operations.This kind of e-commerce has two features: first, the public sector assumes a pilot/ leading role in establishing e-co mmerce; and second, it is assumed that the public sector nas the greatest need tor making its procurement system more ettective. Web- based purchasing policies increase the transparency of the procurement process (and reduces the risk of irregularities). To date, however, the size of the B2G e- commerce market as a component of total e-commerce is insignificant, as government e-procurement systems remain undeveloped. Consumer-to-consumer (C2C):Consumer-to-consumer e-commerce or C2C is simply commerce between private individuals or consumers. This type of e-commerce is characterized by the growth of electronic marketplaces and online auctions, particularly in vertical industries where firms/businesses can bid for what they want from among multiple suppliers. It perhaps has the greatest potential for developing new markets. Mobile Commerce (m-commerce): M-commerce (mobile commerce) is the buying and selling of goods and services through wireless technology-i. e. , handheld devices suc h as cellular telephones and personal digital assistants (PDAs).Japan is seen as a global leader in m-commerce. As content delivery over wireless devices becomes faster, more secure, and scalable, some believe that m-commerce will surpass wireline e-commerce as the method of choice for digital commerce transactions. This may well be true for the Asia-Pacific where there are more mobile phone users than there are Internet users. Governmental regulation[edit] In the United States, some electronic commerce activities are regulated by the Federal Trade Commission (FTC). These activities include the use of commercial e- mails, online advertising and consumer privacy.The CAN-SPAM Act of 2003 establishes national standards for direct marketing over e-mail. The Federal Trade Commission Act regulates all forms of advertising, including online advertising, and states that advertising must be truthful and non-deceptive. [24] Using its authority under Section 5 of the FTC Act, which prohibits u nfair or deceptive practices, the FTC has brought a number of cases to enforce the promises in corporate privacy statements, including promises about the security of consumers' personal information. [25] As result, any corporate privacy policy related to e- ommerce activity may be subject to enforcement by the FTC.The Ryan Haight Online Pharmacy Consumer Protection Act of 2008, which came into law in 2008, amends the Controlled Substances Act to address online pharmacies. [26] Internationally there is the International Consumer Protection and Enforcement Network (ICPEN), which was formed in 1991 from an informal network of government customer fair trade organisations. The purpose was stated as being to find ways of co-operating on tackling consumer problems connected with cross-border transactions in both goods and services, and to help ensure exchanges of nformation among the participants for mutual benefit and understanding.From this came Econsumer. gov, an ICPEN initiative since April 2001. It is a portal to report complaints about online and related transactions with foreign companies. There is also Asia Pacific Economic Cooperation (APEC) was established in 1989 with the vision of achieving stability, security and prosperity for the region through free and open trade and investment. APEC has an Electronic Commerce Stearing Group as well as working on common privacy regulations throughout the APEC region. In Australia,Trade is covered under Australian Treasury Guidelines tor electronic commerce, [27] and the Australian Competition and Consumer Commission[28] regulates and offers advice on how to deal with businesses online,[29] and offers specific advice on what happens if things go wrong. [30] Also Australian government e-commerce website[31] provides information on e-commerce in Australia. In the United Kingdom, The FSA (Financial Services Authority)[32] is the competent authority for most aspects of the Payment Services Directive (PSD).The UK implemente d the PSD through the Payment Services Regulations 2009 (PSRs), which came into effect on 1 November 2009. The PSR affects firms providing payment services and their customers. These firms include banks, non-bank credit card issuers and non-bank merchant acquirers, e-money issuers, etc. The PSRs created a new class of regulated firms known as payment institutions (Pls), who are subject to prudential requirements. Article 87 of the PSD requires the European Commission to report on the implementation and impact of the PSD by 1 November 2012. 33] Forms[edit] Contemporary electronic commerce involves everything from ordering â€Å"digital† ontent for immediate online consumption, to ordering conventional goods and services, to â€Å"meta† services to facilitate other types of electronic commerce. On the institutional level, big corporations and financial institutions use the internet to exchange financial data to facilitate domestic and international business. Data integri ty and security are very hot and pressing issues for electronic commerce.Aside from traditional e-commerce, m-Commerce as well as the nascent t- Commerce[34] channels are often seen as the current 2013 poster children of electronic I-Commerce. Global trends[edit] In 2010, the United Kingdom had the biggest e-commerce market in the world when measured by the amount spent per capita. [35] The Czech Republic is the European country where ecommerce delivers the biggest contribution to the enterprises' total revenue. Almost a quarter (24%) of the countrys total turnover is generated via the online channel. 36] Among emerging economies, China's e-commerce presence continues[when? ] to expand. With 384 million internet users, China's online shopping sales rose to $36. 6 billion in 2009 and one of the reasons behind the huge growth has been the improved trust level for shoppers. The Chinese retailers have been able to help consumers feel more comfortable shopping online. [37] China's cross- border e-commerce is also growing rapidly. E-commerce transactions between China and other countries increased 32% to 2. 3 trillion yuan ($375. 8 billion) in 2012 and accounted for 9. % of China's total international trade [38] Other BRIC countries are witnessing the accelerated growth of ecommerce as well. In Russia, the total ecommerce market is projected to total somewhere between 690 billion rubles ($23 billion) and 900 billion rubles ($30 billion) in 201 5, at 2010 values. This will equal 5% of total retail volume in Russia. Longer-term, the market size of Russian e-commerce could reach $50 billion by 2020. Brazil's ecommerce is growing quickly with retail ecommerce sales expected to grow at a healthy double-digit pace through 2014.By 2016, eMarketer expects retail ecommerce sales in Brazil to reach $17. 3 billion. [39] India's ecommerce growth, on the other hand, has been slower although the country's potential remains solid considering its surging economy, the rapid growth of internet penetration, English language proficiency and a vast market of 1. billion consumers (although perhaps only 50 million access the internet throug n PCs and some estimate the most active group of e-commerce customers numbers only 2-3 million). E-commerce traffic grew about 50% from 2011 to 2012, from 26. 1 million to 37. million, according to a report released by Com Score. Still much of the estimated 14 billion dollars in 2012 ecommerce was generated from travel sites. ecommerce is also expanding across the Middle East. Having recorded the world's fastest growth in internet usage between 2000 and 2009, the region is now[when? ] home to more than 0 million internet users. Retail, travel and gaming are the region's top ecommerce segments, in spite of difficulties such as the lack of region-wide legal frameworks and logistical problems in cross-border transportation[citation needed].E-commerce has become an important tool for small and large businesses worldwide, not only to s ell to customers, but also to engage them. [40][41] In 2012, ecommerce sales topped $1 trillion for the first time in history. [42] Impact on markets and retailers[edit] Economists have theorized that e-commerce ought to lead to intensified rice competition, as it increases consumers' ability to gather information about products and prices.Research by four economists at the University of Chicago has found that the growth of online shopping has also affected industry structure in two areas that have seen significant growth in e-commerce, bookshopsand travel agencies. Generally, larger firms are able to use economies of scale and offer lower prices. The lone exception to this pattern has been the very smallest category of bookseller, shops with between one and four employees, which appear to have withstood the trend. [43]