Pride and Prejudice Analysis Essay

Elizabeth Bennet gets two proposition; one from Mr Collins and one from Mr Darcy. Mr Collins was a tall and substantial looking man of a quarter century. Despite the fact that he was pleasant and polite he was additionally vainglorious and had a self-swelled conscience. He generally made ‘never finishing talks about nothing’ and exhausted everybody to death. Mr Collins complimented everybody continually except once in a while improperly. ‘He asked to know which of his reasonable cousins the greatness of it’s cooking was owed.’ - By this, Mrs Bennet was annoyed and guaranteed him they were in reality ready to keep a decent cook. This demonstrated his absence of judgment in when to commend. He was additionally very ridiculous and Mr Bennet’s mockery regularly went totally unnoticed. For instance, on page 54, Mr Bennet inquired as to whether his honeyed words were readied and Mr Collins conceded that occasionally he would consider them for his beguilement! Woman Catherine de Bourgh who was his patroness utilized him. He cowered to her continually as she paid his direction; due to her, he was center/privileged. He was a minister at Hunsford close Rosings, Lady Catherine de Bourgh’s home. At the point when Mr Bennet bites the dust, Mr Collins will acquire Longburn, as Mr Bennet can't go out to his better half; ladies couldn’t acquire. In Mr Collins’ letter, he proposes to make harmony with the family. Mr Darcy then again was generally excellent looking. ‘He before long drew the consideration of the room by his fine tall individual, attractive highlights, respectable mien†¦Ã¢â‚¬â„¢ He is likewise portrayed as ‘a fine figure of a man’. Be that as it may, he was destined to be found to be ‘proud over his company’. He was cunning, and yet he was ‘haughty, held and fastidious’. He possessed Pemberly Estate and got one thousand every year. - He was high society and he knew it; ‘He had seen an assortment of individuals in whom there was little magnificence and no design for none of whom he had felt the littlest interest.’ Darcy and Bingley had a decent kinship regardless of numerous distinctions. ‘Bingley made certain of being loved any place he showed up; Darcy was consistently giving offence.’ Darcy had no comical inclination and let it be known. He couldn’t see the interesting side of life while Bingley was carefree and gotten a kick out of the chance to appreciate all that he did. In the past Wickam and Darcy had a contradiction. Mr Darcy’s father had guaranteed Wickam a spot in the congregation however when he kicked the bucket Darcy would not support him. Mr Collins first indications on his likely arrangements in quite a while letter to the Bennets when he composes; ‘I can't be in any case than worried at the methods for harming your genial little girls, and ask leave to apologize for it, just as to guarantee you of my availability to make them each conceivable amends.’ On the principal day of remaining at Longburn, he, in a discussion to Mrs Bennet said; ‘I can guarantee the youngsters that I come arranged to appreciate them.’ - Here he gave Mrs Bennet a little look at his aims. Jane Austin at that point parted with it saying that currently having a decent house and pay; Mr Collins was in need of a spouse. He was likewise satisfying Catherine de Bourgh who figured he ought to wed. So for the principal evening Jane was the settled decision being the oldest, however the prettiest - this was, until he was educated by Mrs Bennet that she was destined to be locked in to Bingley (distortion). At that point at the Netherfield Ball he asked Lizzy to move a few times and she understood she was the anointed one out of the five sisters. Mr Darcy then again was a long way from appreciating Lizzy from the start and when Mr Bingley proposed he hit the dance floor with her at the Meryton Ball he answered that he had not minimal expectation of moving. - Bingley was hitting the dance floor with the main gorgeous young lady in the room. Here he was alluding to Jane. He said Lizzy was ‘tolerable, however not attractive enough to entice me.’ At that point at Sir William Lucas’s party, William attempted to match up both of them and Darcy didn't avoid, yet Lizzy forgot about him with; ‘I have not minimal expectation of dancing.’ - this was take care of. It was at this gathering Darcy understood his actual affections for her. At Netherfield when Jane went to remain, she became sick and Lizzy being concerned dropped by. Here, she saw that Darcy was continually watching her. Miss Bingley who furtively preferred Darcy, in observing that he was attracted to Lizzy attempted to turn him against her. However, all futile, for whatever she stated, he simply stood up for Elizabeth. Miss Bingley, in Mr Darcy’s guarding her said; ‘I am apprehensive Mr Darcy that this experience has rather influenced your profound respect for her fine eyes.’ I think when she says this she’s half-prodding and half desirous of him enjoying her. Before proposing, Mr Collins said to Mrs Bennet, ‘May I trust madam, for your enthusiasm with your reasonable girl Elizabeth, when I request for the respect of a private crowd with her over the span of this morning?’ - Here, he was essentially asking Mrs Bennet’s authorization to propose. He at that point propelled straight into his ‘speech’. Mr Darcy dropped by Lizzy and from the outset made light discussion, getting some information about her wellbeing. At that point there was a clumsy quiet where he more likely than not been attempting to consider how to begin before continuing. - Differences are as of now appearing on the other side. Mr Collins initially said he’d picked Lizzy nearly when he’d met her (which was an untruth) and proceeded to indicate his purposes behind wedding her. He, as a minister needed to set a guide to the remainder of the area, he figured it would make his glad and he was following Lady Catherine de Bourgh’s exhortation. He’d clearly planed out his discourse cautiously however in his reasons, he had not referenced that he was infatuated with her! Darcy then again offered his turn in marriage since he loved her and his initial sentence communicated this plainly; ‘In vain I have battled. It won't do. My sentiments won't be quelled. You should permit me to reveal to you how I respect and love you.’ Mr Collins additionally made a few put-down to Lizzy when proposing to her without acknowledging it! For example, he said that on the off chance that she won't, she my never get another offer. He additionally advises her that on the off chance that she remains single, all she may ever be qualified for is twenty-five pounds when her mom bites the dust. Darcy put his foot in it as well. Subsequent to stating the amount he adored her, he proceeded to state that it was not his desire to do as such with her associations and status; ‘His feeling of mediocrity - of the family snags which judgment had consistently contradicted to inclination.’ At the point when he was turned down he thought she was simply insulted; ‘Could you anticipate that me should cheer in the mediocrity of your associations? - To salute myself on the expectation of relations, your connections?’ He likewise confessed to attempting to separate Jane and Darcy and even ‘rejoiced’ in his accomplishment of doing as such. In light of dismissal, Mr Collins thinks Lizzy is acting shy and says this is not out of the ordinary of a woman. He proceeds to express all the great materialistic motivations to wed him neglecting to specify things like love. He goes about as though wedding would be a wise venture for Lizzy or something. He at that point guaranteed her that both of her folks affirmed of the marriage. Mr Darcy in light of dismissal is stunned and furious however figures out how to control himself. He inquired as to why he had been can't and figured she should be outraged by what he had said before; ‘Could you anticipate that me should celebrate in the inadequacy of your connections?’ In any case, in the wake of saying these words he acknowledged her answer. The two proposition were made for altogether different reasons; Mr Collins clearly proposed for comfort, though Mr Darcy was infatuated. The two men additionally responded in various manners when turned down; in spite of the fact that Mr Collins couldn’t take the dismissal, he was not really made a fuss over something besides having his male pride hurt. - Darcy more likely than not been incredibly disturbed, to him Lizzy was the lady he needed to spend an incredible remainder with however he did whatever it takes not to show his feelings. The two of them included a great deal of self importance in their proposition talks. They imagined that Lizzy would not dismiss somebody of the higher class and she should be appreciative that she was picked out of the various young ladies; both reminded her continually about her status. Mr Collins was progressively close to home referencing both what might happen when her mom and father kicked the bucket yet Lizzy got increasingly irate at Darcy in view of things he has said and done before. Mr Collins and Mr Darcy both said in much detail all the advantages and disadvantages of the marriage. Taking everything into account, the two proposition have a few likenesses yet they vary in the fundamental prerequisite of adoration.

CLARA Survey Mindful Agency

Question: Examine about theCLARA Surveyfor Mindful Agency. Answer: Individual Reflection After an exhaustive reflection, I built up that I have a solid Mindful Agency. I was so pleased on the grounds that the quality of my Mindful Agency demonstrated to me that I am a capable understudy who is not kidding with whatever movement I perform. Being solid has empowered me to be a basic mastermind who can utilize his brain to settle on sane and cognizant choices in regards to my life. This has allowed me a chance to release my obligations much dependably. In this manner, to get the best out of my educational time, I need to benefit from my qualities by appropriately arranging and dealing with my time since it is a significant asset I have as of now. As an understudy, I realize that I ought to devote my time for scholastics. This is the reason I accept that the aftereffects of my overview show that I have been doing so well (Gale Schrder 2014). Along these lines, the best activity is to exploit my qualities and guarantee that they advantage me in the most ideal manner conceivab le. Simultaneously, I ought to distinguish my shortcomings and feel inspired to make the essential changes. This will assist me with improving my abilities and become an effective understudy and expert so far as that is concerned. As an understudy, I know for sure that I have far to go. Hence, having done a goal self-evaluation on my qualities and shortcomings, I have come into a resolution that I should settle on significant decisions in regards to my profession advancement. Therefore, I have chosen two reasonable systems: scanning for clinical chances to accept obligation just as taking part in charitable effort. I am persuaded that these are significant methodologies that if appropriately abused, can assist with setting me up to be a balanced proficient who is educated and can serve the general public by conveying my best for the wellbeing of the network (Davis, Thwaites, Freeston Bennett?Levy 2015). They have a capability of engaging me to boost my latent capacity and in the end prevail in my examinations. Achievement in my vocation is a long procedure that requires sufficient arrangements directly from this time until I complete my examinations. Consequently, any procedure that can move me towards progres s ought to be welcome and given the fundamental help it merits. Having gauged all the accessible choices, I have chooses to choose the two techniques in light of the fact that as I would like to think, they are the most reasonable. On the off chance that appropriately used, they can empower me to propel my profession to the following level. Looking for clinical open doors will empower me to procure pragmatic abilities and encounters that will make me to fit into the activity advertise. Here, I will get the opportunity to find out much about patient consideration, quiet connections, collaboration and time the board. Then again, chipping in will give me a satisfying opportunity to offer back to the general public, form my notoriety, get introduction, and learn significant aptitudes such intercultural correspondence. Over the long haul, I will wind up turning into an adaptable and dynamic expert who can serve in whatever sort of assorted network (Chaddock, Thwaites, Bennett-Levy Freeston 2014). In this manner, I emphatically accept that these are th e main methodologies that are suitable for me as a forthcoming expert. Saving some an opportunity to obtain commonsense abilities is admirable in light of the fact that it serves to profit me a lot. One thing I can't deny is that I have painstakingly picked methodologies that will make me to be an outstanding expert upon the finishing of my examinations. From the proof assembled during the reflection, I discovered that my methodologies have been of extraordinary assistance to me. By deciding to be a basic mastermind, I have figured out how to utilize my innovativeness to settle on sensible choices that can make me to be an excellent understudy. This is the reason the greater part of the occasions; I have been making precise decisions as I should. Simultaneously, I have been spending an enormous bit of my time on my book work (Katsikitis, McAllister, Sharman, Raith, Faithfull-Byrne Priaulx 2013). Which means, I have received splendid time the board systems to empower me to appropriately utilize the accessible time with no wastage. It is hence that I qualify my Mindful Agency as a better quality that I merit than have as an engaged understudy. Saving some time and participating in deliberate and clinical work can be a compensating activity. To be sure, my techniques gave me generous control over my ways to deal with learning. The conviction of devoting my opportunity to administration of the network is a reasonable confirmation that I am profoundly worried about my profession advancement. Through my systems, I have settled on a decision to be a dependable understudy who takes as much time as is needed to play out all the obligations given to me. In this manner, I have figured out how to create and sustain the aptitudes of time the executives, collaboration and responsibility. As I would see it, I see these as the most noteworthy aptitudes that should manage me in whatever movement I take part in (Cleary, Horsfall, Muthulakshmi, Happell Hunt 2013). For instance; being responsible has made me to be a straightforward understudy who can assume a full liability for every one of my activities at whatever point essential. I do this on the grounds that, to me, it sets me up to be direct proficient who can be depended with overw helming obligations and duties in whichever setting I work. The decision of my systems has affected on me from multiple points of view. In particular, it has set me up to rise as a perfect understudy. The way that I can utilize my imagination to settle on objective choices suggests that I can be a decent time chief who devotes his vitality to do useful exercises. This has profited me, however profited others too. The obtained aptitudes have empowered me to viably speak with others, hear them out and set up a decent and sound relational relationship with them (Boud, Keogh Walker 2013). Simultaneously, my methodologies have made me to be a magnanimous expert who is worried about the government assistance of others in the general public. This is the reason I have settled on the choice to take part in humanitarian effort since it will give me a sufficient stage to offer back to the general public as I fabricate my nursing profession. Whenever allowed a chance to utilize the system once again, I would not stop for a second to do as such. From the reflection completed up until this point, I came to build up that my techniques are very fitting for me as an engaged understudy. What I cannot deny is that I am in a difficult circumstance that requires appropriate dynamic. To do as such, I have to apply the most reasonable procedure that can empower me to utilize my abilities and experience to think of very much idea and levelheaded choices. Consequently, given the positive effects of the technique, I would have no way out as opposed to reusing it over and over. By the by, I would need to have sufficient opportunity to refine my correspondence and collective aptitudes (Bennett-Levy Lee 2014). This will engage me to be a dedicated and friendly character who can get by in any of condition anyway testing it may be. This, as I would see it, is the thing that I have to prevail in my examinations and satisfactorily set myself up for my vocation. References Bennett-Levy, J. Lee, N.K., 2014. Self-Practice and Self-Reflection in Cognitive Behavior Therapy Training: What Factors Influence Trainees Engagement and Experience of Benefit?. Conduct and Cognitive Psychotherapy, 42(01), pp.48-64. Boud, D., Keogh, R. Walker, D., 2013. Advancing appearance in learning A modeli. Limits of grown-up learning, 1, pp.32-57. Chaddock, A., Thwaites, R., Bennett-Levy, J. Freeston, M.H., 2014. Understanding individual contrasts in light of Self-Practice and Self-Reflection (SP/SR) during CBT preparing. The Cognitive Behavior Therapist, 7, p.e14. Cleary, M., Horsfall, J., Muthulakshmi, P., Happell, B. Chase, G.E., 2013. Vocation advancement: graduate medical caretaker sees. Diary of clinical nursing, 22(17-18), pp.2605-2613. Davis, M.L., Thwaites, R., Freeston, M.H. Bennett?Levy, J., 2015. A quantifiable effect of a self?practice/self?reflection program on the helpful aptitudes of experienced cognitive?behavioural specialists. Clinical brain research psychotherapy, 22(2), pp.176-184. Storm, C. Schrder, T., 2014. Encounters of self?practice/self?reflection in psychological social treatment: A meta?synthesis of subjective investigations. Brain research and Psychotherapy: Theory, Research and Practice, 87(4), pp.373-392. Katsikitis, M., McAllister, M., Sharman, R., Raith, L., Faithfull-Byrne, A. Priaulx, R., 2013. Proceeding with proficient advancement in nursing in Australia: Current mindfulness, practice and future bearings. Contemporary medical caretaker, 45(1), pp.33-45.

a ranking of building 68 thesis defense posters

a ranking of building 68 thesis defense posters I spend several minutes in and around Building 68 elevators most days of the week. Often the elevators are where I find out about cool talks that are going to happen, see below. Those posters are eye-catching, professional, and seem as if they were made by someone who isnt the person giving the talk. Except, of course, for the many posters I see advertising upcoming thesis defenses. Those posters have a kind of soul to themâ€"they radiate heavy grad student energy. I imagine hunched over adults sitting at a computer moving text boxes around and sending things to front, grumbling about having to make one of these posters in the first place and getting frustrated when they cant find images with transparent backgrounds. Weirdly enough, however, Ive noticed that graphic design is something that biologists are usually pretty good at. It might be all the figures and powerpoints you have to put together. Integrated passive design education. Here is my definitive ranking of all of the thesis defense posters Ive seen in Building 68 in the past two weeks, from least favorite to most favorite. Strap in!01 I had a long back-and-forth conversation in my head about whether to censor the names on these posters. On one hand, a grad students thesis is their baby. So much work gets put into these projects that it could be a bit alienating to separate their names from the years of work they put in. On the other hand, people on the internet can be mean. This is ultimately why I chose to black the names out. Additionally, even though I dont know any of the people behind these theses, I didnt want to make it seem like I was judging them personally by vaguely ranking them in terms of favorite-ness. I hope you understand, dear grad student (or freshly defended Doctor!) who may be reading this. 13. Synthetic Analog Feedback Control Circuits in Living Cells Now this one was just a little bit plain for my tastes. It actually stood out from the others in its sheer simplicity. While I am tickled by the line breaks in the title,02 Its almost like a course 6 snuck in as a bio grad student and was like emI want to study synthetic analog feedback circuits... in... umm... living cells!/em the little circuit diagram doesnt do much for me. It does have a little color going on, which makes it overall not too bad.   12. The Assembly and Functions of microbial communities on complex substrates Color! Good! Also good choice using a non-standard font. This one only ranks low on my list because of the murky figures at the top which remind me of 18.0203 multi-variable calc for the non-MIT ppl out there for some reason and therefore trigger my fight or flight response. The bottom pictures are good for doing mini-Rorschach tests, especially the last one, which makes me think either that figure/ground illusion where its a vase but also two faces looking at each other or Simpsons hair. 11. Evolutionary Dynamics of the Human Gut Microbiome That poor cell is full of microbes :/ . I wish I could help him out. Oh wait, now youre telling me that this cell is packed with little microbes initially and yet there are still Single microbes at the end of the experiments? Forget the cell. Poor microbes. Why wouldnt your thesis project be setting up a blind date system for the microbes to get to know each other and maybe develop meaningful relationships? How typical of a human biologist not to care about the happiness of beings that their naked eyes cant see.04 The original caption for this was just going to compare the microbe-y cell to an I Spy puzzle but it is very late at night at the time of me writing this, and the worms start eating holes in my brain at night (oww). Anyway, I think microbe dating would make a pretty watchable reality show on TLC. 10. Understanding Neurodegenerative Disease-Relevant Molecular Effects of Perturbagens Using a Multi-Omics Approach I had this one closer to the bottom of the list before looking at it a second time and recognizing genius. Yes, it is a very average-looking poster. Yes, it contains the words perturbagens and multi-omics, and I did have to go look up what those meant. The coup de grâce, however, is the almost comically vague choice of clip-art at the bottom. Just look at it. Eppendorf. Assay plate with like 1000 wells. DNA. Graph. Nodes n edges. This poster looks like something they would use in a movie scene where theyre in a really smart genius science lab, and the genius science person explains that theyre working on understanding neurodegenerative disease-relevant molecular effects of perturbagens using a multi-omics approach to the non-genius protagonist hero of the story, who responds with something like could you repeat that in English please? Beakers and flasks full of colorful liquids are bubbling and generating fog in the background as the science genius explains what they meant in three words. Eureka! 9. Enzyme Structure, Function, and Evolution in Flavonoid Biosynthesis Oooo flowers. Since I spend so much time doing experiments that involve animal cells, I forget that some people are plant folk. Its refreshing. Tending to science crops. I didnt notice the stick models in the flowers at first; it would be cool if those were bigger. Other than that, a pleasant poster. And they use the Oxford comma!05 This is a thing that nerds who write are required to pretend to be excited about. Forgive me. 8. BMI1: a context-dependent tumor suppressor and barrier to dedifferentiation in lung adenocarcinoma Insert Game of Thrones joke here. These dragons are giving me DeviantArt war flashbacks, but I long for colors. What do these dragons even represent? Why are they yin-yang? I want this image to be my new family crest. 7. Biosynthesis and medicinal chemistry of therapeutically promising plant natural products This is one of the posters that was relatively eh but got pushed up to #6 because of the topic. Natural products supported by MIT research? Cool! Also, Im wondering if that image is a stock photo or if this artsy af grad student waited for perfect natural lighting, arranged those flowers with care on the floor, and did one (1) art and craft molecule. Good for you. 6. Developing VHH-based tools to study Ebolavirus Infection Hate to be predictable, but of course the poster with the llama gets to be in the top half. +1 for the Pac-Men in the lower right of the summoning circle. 5. The evolution and specialized metabolism of beetle bioluminescence Now this is a poster with narrative. Confused Charles Darwin. Two kind, gentle bugs. A quote from Darwin saying that the bugs are simply too different to think that they got their shared light-up capabilities from a common ancestor who also glowed in the dark. A background that at first I thought was black but is actually a picture of some trees at dusk that gives me nostalgia for childhood because the lightning bugs06 or you can call them fireflies if youre a terrible person would come out at dusk in the summertime. 4. Cell cycle S-phase arrest drives cell extrusion I added this one several days after this was originally posted. But look at that Mickey Mouse anthropomorphic hunk of tissue yeeting those cells out of there. This one deserves to be up here (or I guess down, since this is descending order). 3. Identification of genotype-specific dependencies in Keap1-mutant lung adenocarcinoma Now this is a grad student who is familiar with Adobe Creative Suite. Look at that army mouse! The Nerf theme is well-executed, and I appreciate the details put into making it work (e.g. the swoosh in the Nerf logo was changed to a 2 to make it more clearly Nrf2). Also, go figure, the mouse thats smoking a big cigar has lung cancer. Life imitates art, and this is art. Bronze medal. 2. Understanding the dynamics of fecal transplants and the immune system to improve health This one was in the bottom half when I first configured my rankings, but it made it up here for similar reasons to why #9 wasnt last. Its got that weird, irony-adjacent feel to it that could only come from a poop scientist. The poop is also a lightning cloud, and somehow Poop, Blood, and and Cheese are the most important characters in this story. Silver medal. 1. Promoters of Metastasis to Different Organs Dr. Seuss! So whimsical and yet so tragic. These   little colorful cells are about to make that big epithelial to mesenchymal transition and go find an exciting new place to attach, like Liver, Lungs, Brain, and Bone. Its just so morbid to use childrens book imagery to frame metastasis. Like whats more cute than stage IV cancer?   A brave editorial decision, and well-executed at that. Gold medal. Post Tagged #Course 7 - Biology I had a long back-and-forth conversation in my head about whether to censor the names on these posters. On one hand, a grad student's thesis is their baby. So much work gets put into these projects that it could be a bit alienating to separate their names from the years of work they put in. On the other hand, people on the internet can be mean. This is ultimately why I chose to black the names out. Additionally, even though I don't know any of the people behind these theses, I didn't want to make it seem like I was judging them personally by vaguely ranking them in terms of favorite-ness. I hope you understand, dear grad student (or freshly defended Doctor!) who may be reading this. back to text ? It's almost like a course 6 snuck in as a bio grad student and was like I want to study synthetic analog feedback circuits... in... umm... living cells! back to text ? multi-variable calc for the non-MIT ppl out there back to text ? The original caption for this was just going to compare the microbe-y cell to an I Spy puzzle but it is very late at night at the time of me writing this, and the worms start eating holes in my brain at night (oww). Anyway, I think microbe dating would make a pretty watchable reality show on TLC. back to text ? This is a thing that nerds who write are required to pretend to be excited about. Forgive me. back to text ? or you can call them fireflies if you're a terrible person back to text ?

Argument for Human Cloning Essay - 1886 Words

Introduction Cloning is the process of manipulating DNA and embryonic stem cells to create an identical living organism. The purpose of cloning is to find medical treatments and to reduce human suffering (Rosalyn). Is it wrong? Is it disrespectful toward nature itself? According to Sir John Gordon, cloning is not as playing God it is simply copying â€Å"what nature has already produced† (Gordon). This new development established a series of debates because if there are technologies that enable humans to artificially create mammal, sooner or later the same process will be performed on human. This points to the question, should human cloning be banned? (Cloning: An Overview). Even though there are numerous critics who believe human cloning†¦show more content†¦Overtime the fusions between cells occur and form an embryo. This could lead to the transfer of healthy cell in an unborn child who contains diseases due to genetics from the parents. Unfortunately the research w as banned. There are a lot of obstacles standing between the researches of human cloning that could possibly save many lives. Diseases such as Alzheimer and cardiovascular diseases can be cured by the process of cloning. Scientists have discovered a method of creating stem cells (an unspecialized cell that has the ability to become any various differentiated cell) from an embryo. Genetic copies of DNA from a living healthy person are inserted into an egg which divides in the process of cell division or meiosis, and grows into an embryo. If the process is successful, stem cells are then extracted, with the healthy gene placed in the DNA, the cells can divides and produce a healthful system. This whole procedure is for the purpose of improving treatment. However, this action puts fear into a lot of people’s minds of using stem cells for other purposes (Healy). Stem cells can be produced for the desire of new treatments has the potential to fight viruses in the human system and the prosperity will soon outweighed the terror of human cloning. Therapeutic cloning has the potential use stem cells to cure diseases. Although there are many benefits the process of obtaining stem cells depends upon the massacre of the embryo. Nonetheless the benefitsShow MoreRelatedHuman Cloning : An Argument Against Human Reproductive Cloning2226 Words   |  9 PagesExplain in full the ‘life in the shadow’ argument against human reproductive cloning. How might the argument be objected to? Do you regard the argument to be morally decisive, in the sense that it establishes that human cloning for purely reproductive purposes must never be permitted? Explain and defend your answer. Introduction: As the advancement of time, the concept of human cloning can become a reality as with the breakthrough of biotechnology. Human cloning can be defined in terms of formationRead MoreArguments Against Human Cloning1986 Words   |  8 Pages According to Judith A. Boss, author of Analyzing Moral Issues, cloning is an asexual reproduction process in which genetically identical individuals are produced (Boss 126). Two authors, specifically, Julian Savulescu and Leon Kass have very distinct and different points of view on cloning and genetic enhancement. Human cloning has become a significant argument that most people have a stance either for or against it. Cloning is allowed and occurs in our society today, but whether one finds it acceptableRead MoreEssay about Argument Against Human Cloning1902 Words   |  8 Pagesapplied to humans, this percentage may decrease and become lower and more unpredictable. With lives at stake, is it worth the risk of the embryos involved in the unstable pr ocess? Although cloning may allow for new medical procedures and research of diseases and cures, it takes away from the natural biological order of life, and allows humans to play God while creating a margin of error which could result in many defects. Many ethical and moral dilemmas arise when discussing human cloning, and oneRead MoreShould Cloning Be Allowed?1440 Words   |  6 Pagesstory, human cloning is becoming a feasible practice. Recently there has been a successful cloning of a sheep, so scientists start to speculate the different uses of cloning human embryos. The three forms of cloning that stand out are reproductive cloning, therapeutic cloning, and cloning for scientific research. Cloning should be permitted, but only reproductive cloning should be permitted with a limit on the number of babies a person or family can reproduce. The arguments that support cloning dependRead MoreArguments Against Genetic Engineering673 Words   |  3 Pagesconsider one of the strongest arguments against genetic engineering was the statement given by the European Parliament in Cass R. Sunstein’s argument, The Constitution and the Clone. The following is an excerpt from the text book given by the European Parliament â€Å"The cloning of human beings†¦ cannot under any circumstance be justified or tolerated by any society, because it is serious violation of fundamental human rights and is contrary to the principle of equality of human beings as it permits a eugenicRead MoreEthical Issues Related to the Cloning Debate1389 Words   |  6 PagesThe act of cloning a human being comes dangerously close to human beings acting as God. Do human beings have the right to tamper with nature in this way? This essay explores the various ethical issues related to the cloning debate, and seeks answers to this deep philosophical question at the heart of bioethics. As a student of genetic biology and future biologist, this question also has personal relevance. Our science is evolving at a rapid pace. As human cloning becomes increasingly possible, itRead MoreThe Ethics of Cloning Essay1504 Words   |  7 PagesAccording to Richard Dawkins â€Å"Cloning may be good and it may be bad. Probably its a bit of both. The question must not be greeted with reflex hysteria but decided quietly, soberly and on its own merits. We need less emotion and more thought† (Dawkins, 2011). Cloning is a general term used to describe the replication of biological material (Cloning Fact Sheet, 2009). Throughout this paper the reasoning behind why cloning is an acceptable and potentially life changing science will be examinedRead MoreThe Pros And Cons Of Cloning872 Words   |  4 PagesThere are many arguments against cloning. Leon R. Kass bases his argument on repugnance in his article The Wisdom of Repugnance. He is a well-known physician, educator and scientist. Kass perceives cloning as offensive, grotesque revolting, repulsive and wrong. To establish his argument he states, â€Å"Most people recoil from the prospect of mass production or human being, with large clones of look-alikes, compromised in their individuality.†1 His rationale is cloning is unnatural, because it is asexualRead MoreEvaluation Of A Good Argument1394 Words   |  6 Pagesviolated the sufficiency criterion of a good argument. The author has violates the sufficiency criteria by committing the fallacy of false analogy. In paragraph 4 the author states, â€Å"In the mid 1940s – before publicly funded healthcare – my grand parents sold their car to pay the hospital bill related to my father’s birth, so â€Å"purchasing† the birth of a child is nothing new.† This is a wrong analogy. Just because you pay for hospital bill and cloning, does not make them the same. In one situationRead MoreThe Ethical Implications Of Science And Technology1147 Words   |  5 Pagesmight come next: human cloning. As reported in the article, â€Å"Clinton Bars Federal Funds for Human Cloning Research† by CNN, in 1997, President Clinton stopped all federal funding for cloning. â€Å"Clinton also called on privately funded researchers to voluntarily implement a temporary moratorium on human cloning research ‘until our bioethics advisory committee and our entire nation has had time to... debate the ethical implications’† (CNN). With scientific discoveries such as cloning many people rely

What Makes A Great Leader - 1271 Words

Mahatma Gandhi, Mike Krzyzewski, Pope Francis, and Abraham Lincoln. All great leaders, all posses the same characteristics. When it comes to leadership many different names can be added to the long list. If you were to take a closer look on those people you will find what makes up a great leader. Being a leader is meant for only a certain breed of people. To be a great leader a person must consist of Confidence, Intelligence, and they must be versed. Great Leaders are all alike in someway. A Great leader is always a canny person. A person of great intelligence on the thing that they are trying to lead. Mike Krzyzewski is considered one of the best coaches of all time in the sports world. When younger, Coach Krzyzewski enrolled into the†¦show more content†¦A coach is a leader. Another great leader who shows that great leaders need to have intelligence is Pope Francis. Pope Francis is the head of the Christian Religion. He is of huge importance when it comes to maintaining wo rld peace. A task that requires a great amount of knowledge. Pope Francis attended Colegio Of San Josà ©. One of the top christian academies in the world. Pope Francis thrived at this school (Biography.com). This shows that Pope Francis knows a lot about the Christian religion and the world. He contains great intelligence, a characteristic that all great leaders need to posses. Knowing the answer is only the start, a great leader needs the confidence to present the answer. Confidence is key. A clichà © that everyone in the world has heard at one point in their lives. The only difference is that when it comes to being a notorious leader, confidence is actually key. Without confidence in what they are doing and why they are doing it, a leader would not be considered a leader. To help show this better, let us look back at one of the best leaders the world has ever seen. Mahatma Ghandi. Mahatma Gandhi was the leader of the indian independence movement. A movement to help the people o f India gain independence from Great Britain. During this movement Gandhi gained many followers and support by practicing peaceful protests. These protest were ways of hurting Great

Term Paper of Dbbl Free Essays

Introduction: To finance their investments firms use retained earnings, new borrowings or the issue of stock. The financing decision involves i) dividend and ii) the capital structure. Dividend policy involves the decision to pay out earnings versus retaining them for reinvestment in the firm, and dividend policy decisions can have either favorable or unfavorable effects on the price of a firm’s stock. We will write a custom essay sample on Term Paper of Dbbl or any similar topic only for you Order Now Cash distributions are made to stockholders form the firm’s earnings, whether those earnings were generated in the current period or in previous periods. Origin of the Report: During this semester of Summer 2010 in MBA program of East West University, we are required to submit a term paper in the course Corporate Finance: â€Å"An Appraisal of Dividend Policy and Capital Structure of An Organization†. We have chosen PRAN for our term project. Objectives of the Report: The general objective is to prepare and submit the term project within specified time by having an idea and over viewing the PRAN, their Dividend Policy and their Capital Structure. Scope of the Report: The scope is limited to over viewing PRAN their dividend policy and the Capital Structure they have adopted for their organization. Limitations of the Study: Secondary data were used in this study as result it may differ from actual data. As a group, we have also faced some difficulties in compiling and discussing it due to unavailability of all members at the same time. The absence of solid and verse knowledge about dividend policy is absent and we have taken it as an addition in our learning curve. Methodology: The report is originated from secondary data sources- 1. The Company’s Annual Report 2. DES website 3. Different Articles from Internet 4. Other related websites Company Profile PRAN: PRAN stands for Programme for Rural Advancement Nationally. â€Å"PRAN† is currently the most well known household name among the millions of people in Bangladesh and abroad also. Since its inception in 1980, PRAN Group has grown up in stature and became the largest fruit and vegetable processor in Bangladesh. It also has the distinction of achieving prestigious certificate like ISO 9001:2000, and being the largest exporter of processed agro products with compliance of HALAL HACCP to more than 70 countries from Bangladesh. PRAN is the pioneer in Bangladesh to be involved in contract farming and procures raw material directly from the farmers and processes through state of the art machinery at our several factories into hygienically packed food and drinks products. The brand â€Å"PRAN† has established itself in every category of food and beverage industry and can boost a product range from Juices, Carbonated Drinks, Confectionery, Snacks, and Spices to even Dairy products. Today, our consumers not only value â€Å"PRAN† for its authentic refreshing juice drinks products, but also for its mouth watering quality confectionery products with high visual appeal and exciting texture. We intend to expand our presence to every corner of the world and strive to make â€Å"PRAN† a truly international brand to be recognized globally. The authorized capital of PRAN is BDT 50,000,000 and paid up capital is BDT 8,000,000. The proportion is given below: |Share Percentage | |Director /Sponsor |Govt. Institute |Foreign |Public | |42. 75% |0% |1. 27% |0% |55. 98% | [pic] Dividends: Dividend is that part of the profits of a company which is distributed amongst its shareholders. According to ICAI, â€Å"Dividend is a distribution to shareholders out of profits or reserves available for this purpose. † In other words we can say that a corporation makes Dividend payments to its shareholder. It is the portion of corporate profits paid out to its stockhol ders. When a corporation earns a profit at the end of a financial year, that profit can be uses by two different ways: it can either be re-invested in the business or it can be paid to the shareholders as a dividend. Many corporations retain a portion of their earnings and pay the remainder as a dividend. Dividend Policy and Stock Value: There are various theories that try to explain the relationship of a firm’s dividend policy and common stock value. Dividend policy is the policy a company uses to decide how much it will pay out to shareholders in dividends. A firm has different options to deal with its earnings. It can give all their earnings as dividend or it can retain all its earnings as retained earnings. The firm can also declare a portion of its earnings as dividend and can retain other portion as retained earnings. Dividends may be in the form of cash or stock. Most secure and stable companies offer dividends to their stockholders. Their share prices might not move much, but the dividend attempts to make up for this. High-growth companies  rarely offer dividends because all of their profits are reinvested to help sustain  higher-than-average  growth. Dividend Relevance Theory: The value of a firm is affected by its dividend policy – the optimal dividend policy is the one that maximize the firm’s value. Optimal Dividend Policy: Proponents believe that there is a dividend policy that strikes a balance between current dividends and future growth that maximizes the firm’s stock price. Dividend Irrelevance Theory: The theory states that a firm’s dividend policy has no effect on either its value or its cost of capital. Bird-in-the-Hand Theory: It states that dividends are relevant. Remember that total return (k) is equal to dividend yield plus capital gains. Myron Gordon and John Linter took this equation and assumed that k would decrease as a company’s payout increased. As such, as a company increases its payout ratio, investors become concerned that the company’s future capital gains will dissipate since the retained earnings that the company reinvests into the business will be less. Gordon and Linter argued that investors value dividends more than capital gains when making decisions related to stocks. In this theory â€Å"the bird in the hand’ is referring to dividends and â€Å"the bush† is referring to capital gains. The traditional argument in favour of dividend is the idea that dividends reduce risk because they bring shareholders’ cash inflows forward. Although shareholders can create their own dividends by selling part of their holdings, this entails trading costs, which are saved when the firm pays dividends. The risk reduction or bird in the hand argument is associated with Graham and Dodd (1951) and with Gordon (1959) and it is often defended as follows. By paying dividends the firm brings forward cash inflows to shareholders, thereby reducing the uncertainty associated with future cash flows. In terms of the discounted dividend equation of firm value, the idea is that the required rate of return demanded by investors (the discount rate) increases with the plough-back ratio. Although the increased earnings retention brings about higher expected future dividend, this additional dividend stream is more than offset by the increase in the discount rate. This argument overlooks the fact that the risk of the firm is determined by its investment decisions and not by how these are financed. The required rate of return is influenced by the risk of the investments and should not change if these are financed from retained earnings rather than from the proceeds of new equity issues. As noted by Easterbrook (1984), in spite of paying dividends the firm does not withdraw from risky investments, thus the risk is merely transferred to new investors. Reasons for Paying Dividends: 1. Clientele Effect: The investors in your company like dividends. 2. The Signaling Story: Dividends can be signals to the market that you believe that you have good cash flow prospects in the future. 3. The Wealth Appropriation Story: Dividends are one way of transferring wealth from lenders to equity investors (this is good for equity investors but bad for lenders) Types of Dividend Policies: 1. Constant-Payout-Ratio: Constant-Payout-Ratio is a dividend policy based on the payment of a certain percentage of earnings to owners in each dividend period. The problem with this policy is that if the firm’s earnings drop or if a loss occur, the dividend may low or nonexistent. 2. Regular Dividend Policy: Regular Dividend Policy is a dividend policy based on the payment of fixed amount of dividend in each period. It provides the owners with positive information, thereby minimizing their uncertainty. 3. Low Regular and Extra Dividend Policy: Low regular and Extra Dividend Policy refers to a dividend policy based on paying low regular dividend, supplemented by additional dividend when earnings are higher than normal in a given period. Nature of Dividend Decision The dividend decision of the firm is crucial for the finance manager because it determines: 1. The amount of profit to be distributed among the shareholders, and 2. The amount of profit to be retained in the firm. There is a reciprocal relationship between cash dividends and retained earnings. While taking the dividend decision the management take into account the effect of the decision on the maximization of shareholders’ wealth. Maximizing the market value of shares is the objective. Dividend pay out or retention is guided by this objective. Factors Affecting Dividend Policy: A. External Factors B. Internal Factors A. External Factors Affecting Dividend Policy 1. General State of Economy: In case of uncertain economic and business conditions, the management may like to retain whole or large part of earnings to build up reserves to absorb future shocks. In the period of depression the management may also retain a large part of its earnings to preserve the firm’s liquidity position. In periods of prosperity the management may not be liberal in dividend payments because of availability of larger profitable investment opportunities. In periods of inflation, the management may retain large portion of earnings to finance replacement of obsolete machines. 2. State of Capital Market: Favorable Market: liberal dividend policy. Unfavorable market: Conservative dividend policy. 3. Legal Restrictions: Companies Act has laid down various restrictions regarding the declaration of dividend: Dividends can only be paid out of: Current or past profits of the company. A company cannot declare dividends unless: It has provided for present as well as all arrears of depreciation. Certain percentage of net profits has been transferred to the reserve of the company. Past-accumulated profits can be used for declaration of dividends only as per the rules framed by the Central Government 4. Contractual Restrictions: Lenders sometimes may put restrictions on the dividend payments to protect their interests (especially when the firm is experiencing liquidity problems) B. Internal Factors affecting dividend decisions 1. Desire of the Shareholders: Though the directors decide the rate of dividend, it is always at the interest of the shareholders. Shareholders expect two types of returns: [i] Capital Gains: i. e. , an increase in the market value of shares. [ii] Dividends: regular return on their investment. Cautious investors look for dividends because, [i] It reduces uncertainty (capital gains are uncertain). [ii] Indication of financial strength of the company. [iii] Need for income: Some invest in shares so as to get regular income to meet their living expenses. . Financial Needs of the Company: If the company has profitable projects and it is costly to raise funds, it may decide to retain the earnings. 3. Nature of earnings: A company, which has stable earnings, can afford to have a higher divided payout ratio 4. Desire to retain the control of management: Additional public issue of share will dilute the control of management. 5. Liquidity position : Payment of dividend results in cash outflow. A company may have adequate earning but it may not have sufficient funds to pay dividends. Apprising Dividend Policy of PRAN: Year |NI |EPS |Dividend Per |Dividend Payout Ratio | | |(in Millions) | |Share | | |2000 |33. 76 |42. 20% |20. 00% |47. 39% | |2001 |41. 99 |52. 49% |20. 00% |38. 10% | |2002 |43. 41 |54. 26% |25. 00% |46. 07% | |2003 |44. 39 |55. 49% |24. 00% |43. 25% | |2004 |40. 31 |50. 39% |24. 00% |47. 3% | |2005 |40. 77 |50. 96% |26. 00% |51. 02% | |2006 |28. 95 |36. 19% |26. 00% |71. 84% | |2007 |29. 33 |36. 66% |26. 00% |70. 92% | |2008 |35. 95 |44. 94% |28. 00% |62. 31% | |2009 |39. 97 |49. 96% |29. 00% |58. 05% | Table: 1 From the table 1 we see that in 2000 and 2001 PRAN have paid a cash dividend of BDT 20 per share in 2000 and 2001; in 2002 the dividend payment was BDT 25 per share. In 2003 to 2004 and 2005 to 2007 they have paid a cash dividend of BDT 24 and BDT 26 per share respectively. In the year 2008 and 2009 the cash dividend per share was BDT 28 and 29 respectively. Here we see that the dividend has increased in last two year, although the Net Income of the company decreased. However the EPS has also increased during the last two years and the same pattern can be seen in the Market Price of the share. [pic] Figure: 1 From figure 1 we can say that the dividend payment of the PRAN is certain and stable, regardless with earnings. As we see that despite of a drop in the earning in the year 2006 and 2007 the company maintained a constant cash dividend payment which is BDT 26 per Share and when the earnings increased in the year 2008 and 2009 the Dividend payment also increased. [pic] Figure: 2 The Dividend payout ratio indicates the percentage of each unit earned that a firm distributes to the owners in form of cash |Dividend Payout Ratio |= |Dividend Per Share | | | |Earnings Per Share | If we look at the figure 2 we see that to maintain a steady dividend payment per share each year they had to make a huge payment out of the Net Income. In 2006 and 2007 the dividend payout ratio was above 70% and in 2008 and 2009 it was above 58%. According to the Regular Dividend Policy the payment of the dividend is a fixed amount in each period. The Regular Dividend Policy also tries to establish to pay out a certain percentage of earnings, however it tries to stabilize the dividend by pay out a certain amount of dividend and it adjusts the dividend towards the target payout as proven earnings increases. In short we can say that PRAN is following the Regular Dividend Policy Constrains of Regular Dividend Policy: If we have a look at the figure 1 we see that the earnings of PRAN fluctuates year to year for this Regular dividend policy may sometimes prove dangerous. Once a company adopts the regular dividend policy, any adverse change in the dividend payment may result in serious damage regarding the financial standing of the company in the mind of the investors. The same problem is been experienced by PRAN despite of a drop in the earnings that they had to maintain the same amount of dividend. Appropriate type of Dividend Policy: A Stock market tends to be very efficient in the allocation of capital to its highest-value users. That market also helps increase savings and investment, which are essential for economic development. An equity market, by allowing diversification across a variety of assets, helps reduce the risk the investors must bear, thus reducing the cost of capital, which in turn spurs investment and economic growth. However, volatility and market efficiency are two important features which will ultimately determine the effectiveness of the stock market in economic development. In contrast to that the stock market of Bangladesh which is informationally inefficient, investors face difficulty in choosing the optimal investment as information on corporate performance is slow or less available. The resulting uncertainty induce investors either to withdraw from the market until this uncertainty is resolved or discourage them to invest funds for long term. Moreover, most of the time it is seen that investors are not rewarded for taking on higher risk by investing in the stock market, or excess volatility weakens investor’s confidence as a result they people avoid investing their savings in the stock market. Due to the imperfect market and the uncertainty of return the investors always aim for short term investment as a result they prefer dividend rather maximizing the firm’s wealth. The regular dividend policy, which ensures a fixed amount of dividend to be paid to the investor regardless to the company’s income during the period, helps to reduce the uncertainly for the investors. For this the Regular Dividend Policy is the appropriate for PRAN. Year |Net Asset Value Per |EPS |Dividend Per Share |Bonus Share |Market Price Per | | |Share | | | |Share | |2000 |258. 39 |42. 20% |20. 00% |- |416. 50 | |2001 |284. 60 |52. 49% |20. 00% |- |370. 00 | |2002 |312. 82 |54. 26% |25. 00% |- |366. 00 | |2003 |343. 9 |55. 49% |24. 00% |- |412. 00 | |2004 |362. 27 |50. 39% |24. 00% |- |523. 50 | |2005 |386. 55 |50. 96% |26. 00% |- |519. 25 | |2006 |396. 11 |36. 19% |26. 00% |- |386. 00 | |2007 |383. 91 |36. 66% |26. 00% |- |382. 63 | |2008 |428. 9 |44. 94% |28. 00% |- |1142. 00 | |2009 | 449. 96 |49. 96% |29. 00% |- |1363. 00 | Net Asset Per Share Vs. Market Value Per Share: Table: 2 From the table 2 we can say that PRAN has never issued any Bonus shares from 2000 to 2009. However they have maintained a steady dividend payment that shows a positive slope. The market price is very fluctuating in 2005 the MV was 519. 25 but in 2006 it went down to 386. 00, in 2007 it was 382. 63 but in 2008 the MV was 1142. 00. [pic] Figure: 2 From the figure 2 we see that till 2007 the Share Market Price and the Net Asset Value Per share is very close however from 2008 the difference between the Market Price and Net Asset value per Share increased despite of a drop in the Net Income. In the year 2008 and 2009 the corporation has paid a cash dividend of BDT 28 and 29 per share respectively and the EPS in 2008 was 44. 94% and in 2009 was 49. 96. From the above mentioned information we can say that there is a high possibility that the reason behind the increase in the market price of the share imperfect market condition in the Capital Market in Bangladesh. The imperfect market situation might be the result of Syndication or by spreading rumor in the market, which caused the Share Price of PRAN to go up. Capital Structure: In finance, capital structure refers to the way a corporation finances its assets through some combination of equity, debt, or hybrid securities. In other words we can say that Capital Structure is the mix of a company’s long-term debt, specific short-term debt, common equity and preferred equity. The capital structure is how a firm finances its overall operations and growth by using different sources of funds. Debt comes in the form of bond issues or long-term notes payable, while equity is classified as common stock, preferred stock or retained earnings. Short-term debt such as working capital requirements is also considered to be part of the capital structure. For example, a firm that sells BDT 20 billion in equity and BDT 80 billion in debt is said to be 20% equity-financed and 80% debt-financed. The firm’s ratio of debt to total financing, 80% in this example is referred to as the firm’s leverage. In reality, capital structure may be highly complex and include dozens of sources. Gearing Ratio is the proportion of the capital employed of the firm which come from outside of the business finance, e. g. by taking a short term loan etc. A company’s proportion of short and long-term debt is considered when analyzing capital structure. When people refer to capital structure they are most likely referring to a firm’s debt-to-equity ratio, which provides insight into how risky a company is. Usually a company more heavily financed by debt poses greater risk, as this firm is relatively highly levered. The Modigliani-Miller theorem, proposed by Franco Modigliani and Merton Miller, forms the basis for modern thinking on capital structure, though it is generally viewed as a purely theoretical result since it assumes away many important factors in the capital structure decision. The theorem states that, in a perfect market, how a firm is financed is irrelevant to its value. This result provides the base with which to examine real world reasons why capital structure is relevant, that is, a company’s value is affected by the capital structure it employs. Some other reasons include bankruptcy costs, agency costs, taxes, and information asymmetry. This analysis can then be extended to look at whether there is in fact an optimal capital structure: the one which maximizes the value of the firm. Capital structure in the real world if capital structure is irrelevant in a perfect market, then imperfections which exist in the real world must be the cause of its relevance. The theories below try to address some of these imperfections, by relaxing assumptions made in the M model. Capital Structure Theory: Trade-off theory of capital structure Trade-off theory allows the bankruptcy cost to exist. It states that there is an advantage to financing with debt (namely, the tax benefit of debts) and that there is a cost of financing with debt (the bankruptcy costs of debt). The marginal benefit of further increases in debt declines as debt increases, while the marginal cost increases, so that a firm that is optimizing its overall value will focus on this trade-off when choosing how much debt and equity to use for financing. Empirically, this theory may explain differences in D/E ratios between industries, but it doesn’t explain differences within the same industry. Pecking order theory Pecking Order theory tries to capture the costs of asymmetric information. It states that companies prioritize their sources of financing (from internal financing to equity) according to the law of least effort, or of least resistance, preferring to raise equity as a financing means â€Å"of last resort†. Hence: internal debt is used first; when that is depleted, then debt is issued; and when it is no longer sensible to issue any more debt, equity is issued. This theory maintains that businesses adhere to a hierarchy of financing sources and prefer internal financing when available, and debt is preferred over equity if external financing is required (equity would mean issuing shares which meant ‘bringing external ownership’ into the company. Thus, the form of debt a firm chooses can act as a signal of its need for external finance. The pecking order theory is popularized by Myers (1984)[1] when he argues that equity is a less preferred means to raise capital because when managers (who are assumed to know better about true condition of the firm than investors) issue new equity, investors believe that managers think that the firm is overvalued and managers are taking advantage of this over-valuation. As a result, investors will place a lower value to the new equity issuance.. Agency Costs: There are three types of agency costs which can help explain the relevance of capital structure. Asset substitution effect: As D/E increases, management has an increased incentive to undertake risky (even negative NPV) projects. This is because if the project is successful, share holders get all the upside, whereas if it is unsuccessful, debt holders get all the downside. If the projects are undertaken, there is a chance of firm value decreasing and a wealth transfer from debt holders to share holders. Underinvestment problem: If debt is risky (e. g. , in a growth company), the gain from the project will accrue to debt holders rather than shareholders. Thus, management has an incentive to reject positive NPV projects, even though they have the potential to increase firm value. Free cash flow: unless free cash flow is given back to investors, management has an incentive to destroy firm value through empire building and perks etc. Increasing leverage imposes financial discipline on management. Other The neutral mutation hypothesis—firms fall into various habits of financing, which do not impact on value. Market timing hypothesis—capital structure is the outcome of the historical cumulative timing of the market by managers. Accelerated investment effect—even in absence of agency costs, levered firms use to invest faster because of the existence of default risk. Primary Factors influencing the Capital Structure: 1. Business Risk: It is the risk associated with the unique circumstances of a particular company, as they might affect the price of that company’s securities. If the business risk is higher than the optimal debt amount will be lower. 2. Tax Position: It is the second key factor. The major reason for using debt is that the interest is tax deductable which helps to lower the effective cost of debt. However, if much of a firm’s income is already sheltered from taxes by accelerated depreciation or tax loss carried forward from previous years, its rate will be low, as a result debt will not be advantageous as it would be to a firm with higher effective tax rate. 3. Financial Flexibility: It indicates a firm’s ability raise capital on reasonable terms under adverse conditions. 4. Managerial Attitude: It is the firm’s attitude to borrowing fund. Some of the firms are more aggressive than others; hence, some firms are more inclined to use debt in an effort to boost profit. This factor does not affect the optimal capital structure or value-maximizing, however it does influence the firm’s target capital structure. Evaluating the Capital Structure of PRAN: The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of shareholders’ equity and debt used to finance a company’s assets. Closely related to leveraging, the ratio is also known as Risk, Gearing or Leverage. Year |Equity |Debt |Debt to Equity Ratio|NI |EPS | | | | | |(in Millions) | | |2005 |330. 04 |165. 94 |33. 46% |40. 77 |50. 96% | |2006 |337. 69 |152. 59 |31. 12% |28. 95 |36. 19% | |2007 |327. 93 |114. 00 |25. 80% |29. 33 |36. 66% | |2008 |342. 71 |92. 9 |21. 25% |35. 95 |44. 94% | |2009 |359. 97 |138. 99 |27. 86% |39. 97 |49. 96% | Table: 3 From the table: 3 we can say that that in 2005 when the D/E ratio was 50. 96% the company experienced the highest EPS. If we compare the D/E ratio and the EPS of 2008 and 2009 we see that in 2009 the debt ratio has increased by 6. 61% which had a positive effect on the EPS as a result the EPS increased by 5. 02%. It shows that when the D/E ration increases the EPS also increases. If we look at the graphical presentation it will be easier for us to understand which is given below. [pic] Figure: 4 If we take the average of the D/E ratio from 2005 to 2009 we see that on average PRAN is maintaining a D/E ratio of 27. 90%. In short we can say that 27. 90% of the total equity is financed by Debt. It means that the PRAN is moderately aggressive towards the debt financing. As a result they have a lower Financial Risk and higher Business risk. Conclusion: PRAN is one of the reputed companies in the Dhaka Stock Exchange and they fall under the Category â€Å"A†. From year 2000 to 2009 PRAN has always have paid cash dividend however they have never paid stock dividend. PRAN is maintaining a reserve capacity Dividends can be used to budge assets out of the company and consequently from the potential allege of creditors which can be injurious to creditor wealth, and creditors will beyond a shadow of a doubt take pricing or contractual actions to offset these latent uses of dividends. The contemplations of signaling, agency and the effects of market imperfections upon optimal dividends are imperative dimensions about which financial managers must be sentient. Recommendations: Cash and stock dividend, both should be paid without fail. Our stock market is not an efficient market. The available information most of the times do not lead to the desired reality. Many investors believe on the rumors and invest in the share market. Security Exchange Commission should take proper steps to minimize this condition. Disclosure of the overall market price in the annual report is desirable. The company can ideas from its investors to improve the situation and thereby engaging them in the part of the decision making process. Issuing of bonus shares can be a good option to attract the potential investors. How to cite Term Paper of Dbbl, Essays

Critical Thinking and Interpersonal Decision Making

Question: Discuss about the Critical Thinking and Interpersonal Decision Making. Answer: Introduction Decision making refers to the channels through which logical choices are sought and the best alternative reached. During this process all information to do with the available options has to be considered. Through critical thinking, all the known data and information surrounding the alternatives are expounded on and a more benefiting option sought. The negatives and positives of each alternative. Projecting a forecast is one way through which predictions in favor or against an option can be reached. The primary objective behind video dairy in decision making is study design and rapport development among the participants. It assures trust and excellence moderation through the process. The mix of activities and conversations ensures a deeper process coverage. Video dairies have a strong eminent way in giving details on how a process has developed. They detail on every personal view and opinion of the participants. The also deeply detail on the steps and processes taken to reach a decision. one is able to achieve an in depth understanding of a concept from video dairies. Through the use of video dairies in the decision making process opens a channel through which the ideas of every individual can be sought and be understood. The rich data sets derived from video blogs plays a major role in critical thinking and decision making purposes. Decision making and critical thinking The decision making processes should always be done on a step by step basis. In this manner, the decisions reached are always thoughtful and deliberate. The solution selected is essentially more specific to the eminent problem. Decision making and critical thinking need to follow a process as illustrated: Identifying subject matter The initial step is to get a deep understanding of the issue to be addressed. Knowing the details about it ensures a deeper development of a decision for it. Among the questions to ask at this level include: What the issue is. When it started. What causes it. What the solution need to address. The scope of cover. Information collection on the subject matter This process entails collection and documentation of all relevant information relating to the issue. The information should be sought both internally and externally. Essentially conducting a self-assessment reveals much of the data needed here. A research on the issue also provides additional insight to the scope of the issue to be decided on. Identifying alternatives and solutions after gaining in detail knowledge of the issue, one develops a better insight on the kind of solutions to be used to address the issue. All the possible alternatives need to be documented. The alternatives can be identified through imagination and by research. Assess the options Conducting a SWOT analysis for each option at this step ensures a deeper understanding of all the alternatives. The evaluation should be focused on addressing the questions raised in the first step. have a theoretical prediction on how each alternative shall be effective in addressing the issue. Once done, prioritize on the alternatives starting with the most effective option. Select and implement the best from the alternatives At this point a decision need to be made on the best alternative with all considerations in place. The alternative can then be implemented in to the process. Decision review After the implementation, there is need to continuously assess the effectiveness of the chosen alternative. The alternative need to exhaustively address all the issues raised in step 1. This ensures the issue is sufficiently addressed. Video diary in decision making and critical thinking Video diaries make a strong way through which users can make documentations and keep track on processes and decisions. The videos may as well be referred to as self-ethnography. The videos are recorded as a response to issues and concerns over time. The interactions in the activities result in a development of better understanding and relationship among the participants. From the video dairies one is usually able to ascertain the authenticity and actual attitude of the respondents and as such be aware of the attitude. The behavior comes natural as opposed to other channels through which this could have been recorded. They form a strong basis through which decisions can be made. When well detailed, the video dairies carry all the content that is discussed in a forum or process. Impact of video diaries in decision making and critical thinking. Develops a narrative journey to a decision or thinking Listening a well-documented video dairy will always take the audience through a deeply articulated steps and process through which a decision can be reached. They take the audience along in all the processes. The videos guide the audience, while providing every little details, through the channels used to reach a decision. From the tone and attitude, an audience is able to relate with the topic of discussion. To realize success, the videos need to be spontaneous. It ensures no detail in the decision making process is not left behind. Detailed in information dissemination Video dairies document every little detail through a process. There are minimal chances of information loss. When doing a critical thinking, all these details are needed to be included. Addressing them implies that the decision reached is all inclusive and considerate. They ensure a detailed narrative development Decision making and critical thinking have to be done in a particular manner. The development has to be in a definite direction. Concept development from a previous video is highly aided. It ensures the process is continuous. Challenges of loss of track in records are effectively addressed. The story line is definite ensuring minimal data loss and deeply sought process for a solution to be reached. Easier concept sharing While developing the video dairies, it is easy to incorporate details such as charts and previous results. Through this, keeping track of a process is ensured. An audience is able to instantly keep up to speed in all the elements within the subject matter. In a collaborative environment, the participants are able to gain knowledge on ongoing processes faster. Learning points From the course I have developed a stronger understanding on the proper channels through which a decision is made. I have strengthened my understanding on critical thinking and the need to keep track on all the steps and procedures passed through before a solution is reached. I have developed skills on proper and effective development of video dairies for managerial uses. I now have a strong intuition on powerful documentation of processes and steps necessary for sensitive steps. From this knowledge, I shall be in a better position to lead team members in making strong supported critical thinking and decision making in my career. I shall be able to make powerful insight on the modalities and channels for effective decision making. I shall also be able to ensure information flow and share among peers and management through video dairies to ensure efficient processes. Do data mining and manipulation for managerial decision making. Analyze managerial issues and ascertain inferences and theories surrounding them. I am also able to do evaluations on reasoning and judge self-opinion. Conclusion Decision making and critical thinking require strong interpersonal skills. They make critical managerial roles which need sensitivity while addressing. All the steps taken to reach a decision need to be sufficiently documented. Each participant need to exercise the art of listening and contributing. With effective video dairies, developing content for the decision making purposes get highly enhanced. Decisions are reached through a high developed content. The dairies are available for making revisions and revisits. The dairies are also available for a later stage revisit and recap. Sharing of ideas and concept among the decision making participants is also highly enhanced