Managing Financial Resources and Decisions - 1091 Words

UNIT 2: MANAGING FINANCIAL RESOURCES AND DECISIONS Unit 2: Unit code: QCF level: Credit value: Aim Managing Financial Resources and Decisions H/601/0548 4 15 credits The unit aim is to provide learners with an understanding of where and how to access sources of finance for a business, and the skills to use financial information for decision making. Unit abstract This unit is designed to give learners a broad understanding of the sources and availability of finance for a business organisation. Learners will learn how to evaluate these different sources and compare how they are used. They will learn how financial information is recorded and how to use this information to make decisions for example in planning and budgeting. Decisions†¦show more content†¦ypes of business ie limited company, partnership, sole trader Interpretation: use of key accounting ratios for profitability, liquidity, efficiency and investment; comparison both external ie other companies, industry standards and internal ie previous periods, budgets BH023329 – Edexcel BTEC Levels 4 and 5 Higher Nationals specification in Business – Issue 1 – April 2010  © Edexcel Limited 2010 9 UNIT 2: MANAGING FINANCIAL RESOURCES AND DECISIONS Learning outcomes and assessment criteria Learning outcomes On successful completion of this unit a learner will: LO1 Understand the sources of finance available to a business Assessment criteria for pass The learner can: 1.1 identify the sources of finance available to a business 1.2 assess the implications of the different sources 1.3 evaluate appropriate sources of finance for a business project LO2 Understand the implications of finance as a resource within a business 2.1 analyse the costs of different sources of finance 2.2 explain the importance of financial planning 2.3 assess the information needs of different decision makers 2.4 explain the impact of finance on the financial statements LO3 Be able to make financial decisions based on financial information 3.1 analyse budgets and make appropriate decisions 3.2 explain the calculation of unit costs and make pricing decisions using relevant information 3.3 assess the viability of a project using investment appraisal techniques LO4 Be able to evaluate the financialShow MoreRelatedManaging Financial Resources and Decision1445 Words   |  6 PagesManaging Financial Resources and Decisions-HND Assignment HND Assignment Managing Financial Resources and Decisions Scenario: Emaar Properties on Sunday announced to build a new hotel in Downtown area and that will be the second tallest property in the high-end area, according to chief executive officer for retail Arif Amiri. Amiri did not disclose value of the project and even declined to give the sale price. â€Å"We will announce the price at public launch on September 22,† he told reporters atRead MoreManaging Financial Resources and Decisions1280 Words   |  6 PagesAssessment Brief Unit 2 Managing Financial Resources and Decisions P.1. Identify short term, medium term and long term sources of finance available to Blue Orange Solutions. Long Term âÅ"“ Loans âÅ"“ Debentures âÅ"“ Bank loans (mortgage) âÅ"“ Merchant or Investment Banks Short / Medium Term âÅ"“ Bank loans âÅ"“ Overdraft facilities âÅ"“ Trade credit âÅ"“ Leasing 1. Business Angels Read MoreManaging Financial Resources And Decisions2502 Words   |  11 Pages Unit Number: 2 Unit Title: Managing Financial Resources and Decisions Unit 2: Managing Financial Resources and Decisions Assignment Cover Sheet Assignment No: 825789 I hereby confirm that this assignment is my own work. I have identified and acknowledged all sources used in this assignment and have referenced according to the Harvard referencing system. I have read and understood the Plagiarism and Collusion section provided with the assignment brief and understoodRead MoreManaging Financial Resources And Decisions1818 Words   |  8 PagesIDP 2: Managing Financial Resources and Decisions Assignment Introduction All businesses need finance because that refers to sources of money for business. The reason why firms need finance to: - Start-up a business – eg: pay for premises, new equipment and business strategies short-term or long-term. - Run the business – eg: having enough money to pay for rent, rate, bills, wages and suppliers on time. - Expand the business – e.g.: having funds to pay for new equipment, new office or a branchRead MoreManaging Financial Resources and Decisions4117 Words   |  17 Pagesand equity financing, which includes common shares, preference shares and retained profit. It is also to discuss advantages disadvantages of each source, as well as to assess the implications of these different sources related to risk, legal, financial and dilution of control and bankruptcy. Based on those analyses, it is to select the appropriate sources of finance for the project including retained profit, common and preference shares and loans. What’s more, the costs involved with each sourceRead MoreManaging Financial Resources And Decisions Essay3396 Words   |  14 PagesAssignment On Managing Financial Resources and Decisions Submitted To: Submitted By: Date of Submission: Contents Executive Summary 3 1.1 Why business needs finance and what are the available sources of finance to a business. 4 1.2 Access and compare the implication of the different sources of finance: 7 1.3 Critically evaluate the appropriate the sources of finance for the case: 8 2.1 Analyze the cost of different sources of finance: 9 2.2 Review the importance of Financial Planning 10Read MoreManaging financial resources and decisions Essay5351 Words   |  22 Pagesï » ¿ BUSINESS FINANCE MANAGING FINANCIAL RESOURCES AND DECISIONS GRIGOR GRIGOROV/MRC/20967/NHD MONT ROSE COLLEGE 25.03.2013 Task 1 Programme title HND Business Assessor/Tutor Yannick Fansi Unit 4 – Business Finance Assignment title 1 - Managing Financial Resources and Decisions Student Grigor Petrov Grigorov Date 25/03/2013 1.1 Identify the sources of finance available to a business. There are a number of sourcesRead MoreManaging Financial Resources And Decision Making3266 Words   |  14 PagesTITLE: MANAGING FINANCIAL RESOURCES AND DECISION MAKING Higher National Diploma (HND) in Business British Institute of Technology E-Commerce Managing Financial Resources and Decision Student ID- 48154 Student Name- Nataliya Georgieva Group: J Submission Date: 08-08-2014 Executive Summary The purpose of this assignment is to study the finance sources available to a company. Here according to the assignment requirement, we have to select a British public company to study the available sourcesRead MoreManaging Financial Resources and Decisions Essay4721 Words   |  19 PagesManaging Financial Resources amp; Decisions By: * * Introduction Top of FormBottom of Form | In this report we are going to help Mr T Jones to start his fast food restaurant in Manchester. Mr T. Wants to start a franchise restaurant Wimpy and needs help with the financial resources and planning part.    Step one, there are different souses of finance and it’s divided into internal and external finance, money that comes from within a company and theRead MoreManaging Financial Resources and Decision Ii9980 Words   |  40 Pages 11 Task Two: Unit Costs 12 Task Three: Pricing Decisions 18 Task Four: Investment Appraisal 1. Net Present Value (NPV) approach 22 2. Internal Rate of Return ( IRR) approach 23 3. Payback period 25 4. Accounting Rate of Return (ARR) 25 Task Five: Financial Statements 1. Main financial statements used by organisations 27 2. Differences between financial statements of various businesses 36 3. Ratio Analysis

International Business in Japan Free Essays

string(54) " holdings formed the glue between these six Keiretsu\." Abstract Capitalist and mostly single family centered, Zaibatsu led to a static system with weak competitive forces resulting in what is known as ‘cordial oligopoly’. (Niciejewska, 2007, pg 17) Keiretsu networks on the other hand, with its cross stockholdings is more dynamic and provided a more competitive business economy that continued to drive the Japanese economy during the post war period. The high cohesion that existed between the participating firms in the vertical keiretsu resulted in production and operational efficiency that gave Japanese manufacturers significant advantages in international markets. We will write a custom essay sample on International Business in Japan or any similar topic only for you Order Now The impact of information technology and the internet in particular enabled the western countries implement modular production strategies and improved value chain management with setting up of contracted production centers across the globe. The japans keiretsu firms struggled to fight the American companies that specialized in single core functions leading to what is known as the mega competition. Keiretsu networks are unsuitable under modern, globally competitive, and technologically advanced market conditions. There is definitely a shift towards a more western centric business organization. Introduction Japanese corporate governance has undergone a lot of change since the Meiji restoration in 1868. It was during this time that the industrial revolution flourished across the world. The Zaibatsu originated when the Meiji government sold out certain government undertakings to a select few private and influential families namely Mitsui, Mitsubishi, Yasuda and Sumitomo. These government controlled firms slowly developed into different industries that helped Japan grow economically strong. During this period Japan practiced a closed economic system and foreign technology was totally shunned except in areas concerning domestic development (Thorson Whitney, 2003). The Zaibatsu which could be loosely translated as monopolies emerged as the corporate structure that underlined the Japanese economy from this time till the end of the Second World War. In particular, the Zaibatsu or the industrial and financial conglomeration of the Japanese empire controlled a large percentage of the national economy during the first few decades of the twentieth century. In the aftermath of the World war 11 and the occupation of Japan by American forces, the Zaibatsu system was broken down and this gave rise to what is what is known as the Keiretsu system which is nothing but a group of companies with cross shareholdings and preferential business practices. Though the American government was bent on totally destroying the protectionary policies that the Zaibatsu system represented and proceeded with the dissolution of many Zaibatsu such as Asano, Furukawa, Nakajima, etc they stopped short of complete dissolution owing to fear of the intrusion of China’s communist practices into Japan. The formation of Keiretsu was an attempt to democratize the Japanese economy and to eliminate the restrictive policies (Thorson Whitney, 2003). A brief overview of the firm structures in the Keiretsu and flourishing of Japanese economy between 1950-90, and its implications to the current Japanese e conomy would be discussed in this paper. Zaibatsu (Upto 1945) As briefly mentioned above, the Zaibatsu promoted a strong monopoly with holding companies at the top of the pyramid controlling all the operations between the various enterprises within the pyramid. Holding companies typically enjoyed the majority of the stocks of these businesses and more than 50% of the overall stocks of all the small companies that constitute the Zaibatsu were owned by its members (Thorson Whitney, 2003). Stock options were never sold out to any third parties not connected with the zaibatsu making it a totally closed economic structure. The Zaibatsu was in short, a government led economic drive with strategies as well as resources provided for by the government. Japan’s industrial growth witnessed a rapid upswing under the Zaibatsu system. Buoyed by it success at home, the Japanese government forced the Zaibatsu system in Korea when it colonized the country (Shim Lee, 2008, pg 49). The Zaibatsu enjoyed complete domination with Mitsui, Sumitomo and Mitsubishi, enjoying as much as 28% of the assets in Japanese companies by 1929. Just when the World War II was about to finish the Zaibatsu had 22.9% of the Japanese company stocks. Thus a handful of Japanese families had control over a vast majority of the Japanese enterprises under the Zaibatsu system. The structure of the Zaibatsu changed very quickly and soon there was intense diversification. For instance the single Mitsubishi Corporation rapidly diversified its business in to mining, shipping, insurance, trading, etc in a very short period of time and soon transformed into a holding company that was at the top of the Pyramid controlling a range of individual yet affiliated businesses. The Iwasaki family owned and controlled the entire business network of Mitsubishi (Lincoln Shimotani, 2009). Keiretsu Keiretsu represents a cluster of enterprises that are linked to each other by way of cross shareholdings and preferential trading practices creating mutual interests in the business progress. Keiretsu are basically divided into two main types’ namely Vertical keiretsu and horizontal keiretsu. However there are also other keiretsu such as the distribution keiretsu that relate to the distribution networks of big manufacturers. For instance the distribution networks of Matsushita, Fuji Photo Film, etc come under the distribution Keiretsu (Shimotani, 1995). Keiretsu emerged as a protective response to the dissolution and distribution of the largely family owned stocks of the Zaibatsu. When hostile companies were taking over the zaibatsu firms the three main Zaibatsu leaders convened and arranged a solution of cross shareholding and preferential trading policies that enabled them to retain the overall control of the enterprises among themselves. For instance the Mitsui, Sumitomo an d Mitsubishi zaibatsu formed this strategic pact of cross shareholdings to maintain their stronghold in the business. This is how the Keiretsu emerged from the Zaibatsu. Soon by the 1960’s a few big financial institutions in Japan such as Dai-Ichi Kangyo, Fuji and Sanwa joined with the Mitsubishi, Sumitomo and Mitsui to constitute what was popularly known as the six horizontal Keiretsu (Lincoln Shimotani, 2009). Periodic meetings between the president’s council (shacho-kai) members and executive exchanges and cross share holdings formed the glue between these six Keiretsu. You read "International Business in Japan" in category "Essay examples" The horizontal Keiretsu is centered around a large bank. On the other hand, the vertical Keiretsu are the large manufacturing companies and supply chain companies, the distributors etc. Unlike the Horizontal Keiretsu there is no president’s council in the vertical Keiretsu but the groups of suppliers of a manufacturing firm represent that role (Miwa and Ramsayer, 2006). Similar to the horizontal Keiretsu, the firms in the vertical keiretsu are also linked together by share holdings across firms and preferential business policies. In vertical Keiretsu there is improved knowledge sharing by way of business transfers including exchange of experts and technical staff members across the vertical network. Overall, vertical Keiretsu promotes improved cohesion among the network firms. In fact, the increased dependence of main firms on the supplier firms in the vertical Keiretsu even lead to large scale investments by these ancillary Japanese firms in US following the footsteps of the Japanese automobile manufacturing firms setting up their FDI in that Country (Banerji Sambharya ,1996). In technology intensive industries of Japan vertical Keiretsu has greatly improved their international competitiveness by facilitating rapid knowledge sharing across the partnership firms. Empirical studies that measured the effects of such knowledge sharing across the firms in the vertical Keiretsu clearly suggest positive productive gains (Branstetter, 2000). One of the important advantages of the vertical keiretsu is the improved coordination between the suppliers and the assemblers. In the keiretsu automotive industries the suppliers receive plenty of support in products manufacturing , processing and people management. This is distinctly different from the US approach where the suppliers and the assembly line operate entirely independently. This model of operation facilitates both the parties as it helps to reduce the overall risk for either party. (Lincoln Shimotani, 2009) Thus the Keiretsu improved knowledge transfer among the networked firms, improved productivity, reduced risk for the firms and gave the Japanese companies clear advantage in the international market. Furthermore, Gerlach (2004), also notes that the Keiretsus were particularly important due to their one-set principle and networking. For instance, synergies were achieved in input and output, especially in the case of manufacturing. Centralized systems and departments were used in conducting basic support operations, which helped all subsidiaries in cost savings (Lincoln Shimotani, 2009). Also, profit-trapping mechanisms were used in place, by distributing them effectively through subsidiaries (Lincoln Shimotani, 2009). Cross shareholdings were also particularly important as it helped avoid takeovers, encouraged risk taking amongst companies, and had a long term outlook on strategy (Sturgeon, 2006). One of the important examples of the vertical Keiretsu is the Toyota group. In fact, Toyota has a unique distinction of being both a horizontal keiretsu as well as a vertical keiretsu. They key difference is that the massive size of the Toyota organization makes it possible to exist wi thout being controlled by a central bank as is the case with horizontal keiretsu. Toyota with more than $72 billion in annual revenue has the financial might to stand for itself without the dependence of any major funding source. However, it is associated with the Mitsui group horizontally. Toyota is also widely diversified like a horizontal keiretsu company with its firms representing industries as varied as real estate, computer development, aircraft development, nonlife insurance, etc. The disintegration of the Keiretsu (Why keiretsu failed?) The keiretsu system started to decline slowly by the early nineties and one study by Gerlach (2004) that analyzed the cluster networking pattern of 257 Japanese organizations between 1978 and 1998 found clear evidence indicating this shift away from the Keiretsu. Analysis of cross shareholdings further confirmed the decline of the keiretsu structure (Lincoln Shimotani, 2009). By the late nineties many major banks that were previously the core of the Horizontal keiretsu had already sold off major portions of their shares to international financial institutions (Ahmadjian and Robinson, 2001). Several Bank mergers further shook the keiretsu structure. Starting with the Mitsui and Taiyo-Kobe Bank merger in 1990 to the 1998 merger of Industrial Bank of Japan, Fuji and Dai-ichi Kangyo bank the largescale mergers of Japanese financial institutions led to consolidation of the related keiretsu firms (Lincoln Shimotani, 2009). Globalization and technological changes further led to the withering of the Keiretsu. The numbers of board of directors were reduced and many foreign personals took up the position. International investors further demanded the selling off of the stocks in supplier firms and other affiliate firms. Furthermore, the global shift towards modular production system and the production efficiency that it gave rise to, along with a degree of independence between the firms that are involved, kind of eroded the production line advantages that Japanese firms specialized in mass production under the keiretsu system had enjoyed for a long period. The growth of information technology and the adaptation of computer simulation technologies in production testing and experimentation and swift data exchange between the firms reduced the need for physical communication (which was key in Keiretsu) and drastically improved value chain management.(Sturgeon, 2006) Modular production is propelled by ease of systems integration facilitated by information technology. By the 1990’s modular production system was already in place in the US electronic industry with its contract manufacturers spread across the globe. While the American firms capitalized on the internet enabled modular production systems and dominated the electronics industry and related computer hardware industry, Japanese electronics industry was still sticking to the ‘components plus products’ strategy. Cisco systems for instance enjoyed total domination in the network routers market enjoying as much as 80% of the market share while simply outsourcing its device production to contracted producers such as Solectron and Flextronics. Often the production centers are located in low cost regions such as China giving a distinct advantage for the modular production strategy. This contrast between the modular production strategies of the American firms and the in house à ¢â‚¬Ëœintegrated production system’ of the Japanese keiretsu firms gave a clear advantage to the American firms. In other words, the Japanese keiretsu firms could not handle the ‘mega competition’ from the American firms which specialize in single core functions or narrow core competencies. The following figure 1 illustrates the loss suffered by the Japanese keiretsu electronic industries in the early years of the new millennium. (Sturgeon, 2006) Another factor that accompanied global trade is the fluctuation of the exchange rates and its influence on the profit margin. Furthermore, the expansion into international markets and the associated transportation costs motivated many of Japan’s manufacturing firms to move their production facilities abroad as a cost effective solution. Though some suppliers too moved and invested in these new countries, in most cases the central firms such as Toyota started building trust and relationships with the local suppliers. Furthermore, changes in Japanese economic reforms including the Tax policies did not tolerate risk sharing measures as they used to before which clearly undermined one of the key Keiretsu principles. Conclusion The Large capitalist and mostly single family based zaibatsu companies flourished during the early twentieth century creating industrial monopolies that were closely controlled by the government. Zaibatsu led to what is known as a static system as most of the stocks are retained by the family that controls the business. Furthermore Zaibatsu promoted weak competition leading to what is known as ‘cordial oligopoly’.) Keiretsu on the other hand with its cross stockholdings is more dynamic and provided a more competitive business economy that continued to drive the Japanese economy during the post war period. The high cohesion that existed between the participating firms in the vertical keiretsu resulted in production and operational efficiency that gave Japanese manufacturers significant advantages in international markets. However, the Keiretsu principles of ‘preferential business’ affected foreign companies from entering the Japanese markets. Globalization and increasing pressures from international organizations to sell off stocks in affiliated firms affected the cohesion that previously existed between the participating firms in the keiretsu network. Furthermore, the successful integration and mass production strategies of the keiretsu networks that helped Japanese manufacturing firms flourish were soon affected by the shift in global production strategies. Particularly, the concept of modular production where product design could be isolated from its manufacture and the shift towards outsourcing in the western world created a dent in the Japanese manufacturing sector which was still stuck with the ‘in house production’ policies. The impact of information technology and the internet in particular enabled the western countries implement modular production strategies and improved value chain management with setting up of contracted production centers across the globe. The japans keiretsu firms struggled to fi ght the American companies that specialized in single core functions leading to what is known as the mega competition. These fundamental shifts in organizational structure and strategies in the West have made the Keiretsu networks unsuitable under modern globally competitive and technologically advanced market conditions. There is definitely a shift towards a more western centric business organization. Bibliography Ahmadjian, Christina L and Patricia Robinson. (2001). Safety in Numbers: Downsizing and the New Political Economy of Structural Adjustment and Globalization, New York: M.E. Sharpe. Jae Seung Shim Moosung lee, (2008), The Korean Economic System, Ashgate Publishing Ltd. England. James R Lincoln Mashiro Shimotani, (2009), Institute for Research on Labor and Employment, Working Paper series, [online] University of California, viewed Mar 9th 2012, Katharina Niciejewska, (2007) The Influence of Social networks in Japanese business. Keiretsu as a Japanese Network. Auflage , Germany. Kunal Banerji PhD Rakesh B Sambharya, (1996), Vertical Keiretsu and international market entry: The case of the Japanese automobile ancillary industry, Journal of international business studies. Vol 27, No 1. Lee Branstetter (2000), Vertical Keiretsu and Knowledge Spillovers in Japanese Manufacturing: An Empirical assessment, Journal of Japanese and International Economies , Vol 14, Issue 2, pg 73-104 Miwa, Yoshiro and J. Mark Ramsayer. 2006. The Fable of the Keiretsu: Urban Legends of the Japanese Economy. University of Chicago Press, 2006. Thayer Watkins, The Toyoto Group: The One and Only Horizontal and Vertical Keiretsu, [Online] San Jose State University, viewed Mar 9th 2012, Timothy J Sturgeon, (2006), Modular Productions Impact on Japan’s Electronic industry, MIT, IPC Working papers series. Viewed Mar 10th 2012, How to cite International Business in Japan, Essay examples

What You Need to Know About Browns PLME

Dreamt about being a doctor since you’re kid? If so, then you need to know about Brown University’s PLME. What is Brown’s PLME? Brown’s Program in Liberal Medical Education, more commonly known as PLME, combines the undergraduate education and professional medical studies in a single 8-year program. Judging by the number of years, you should note that PLME is not an accelerated program. The purpose of the program is to give students the opportunity to gain admission to medical school without sacrificing the benefits of first receiving a liberal arts education. Benefits of Brown’s PLME 1. Open Curriculum Brown University is most well-known for its undergraduate open curriculum. There are no core requirements for enrolled students, so they have the freedom to choose what they wish to study. The only specific requirement for Brown students is to successfully finish at least 30 courses in 8 semesters, to complete at least one concentration program (a.k.a. major), and to demonstrate excellent written English skills by graduation. Under Brown’s undergraduate open curriculum, students have the flexibility and options of studying anything from the Art History to Biology. While this is so also true for other pre-medical programs, there is less pressure for students to major in a hard science since they’ve already been accepted to the Warren Alpert Medical School. 2. No MCAT Good news! Once you get accepted to PLME, you’re accepted to both the undergraduate program at Brown University and the Warren Alpert Medical School of Brown University. This means there’s no need for you to study for the dreaded MCAT. 3. Single Application Since you’ve already been accepted to the Warren Alpert Medical School, you do not have to submit another medical school application! Typically, pre-med students would have to complete their medical school applications during senior year of college. Application Requirements for PLME1. Recommended Courses in HS There aren’t high school prerequisites for students, but PLME are encouraged to take up honors and AP classes that are offered at their high school. Here are a few of the recommendations:4 years of English, with significant emphasis on writing 3 years of college preparatory mathematics 3 years of foreign language 2 years of laboratory science above the freshman level 2 years of history, including American history 2. Standardized Testing Requirements Brown University’s PLME allows students to take either the ACT or the SAT. If you choose to take the ACT, the ACT Writing portion is required. The program also requires 2 SAT subject tests. PLME applicants are encouraged to take one of them in a science. Please note if you get a score over 750 for the Physics SAT Subject Test, you fulfill the PLME Physics Competency. Take it under consideration, as it may help you in the future! 3. Supplemental Essays The application to Brown’s PLME is available on the Common Application. On top of the general Brown University application, students are also required to answer two additional supplemental essay prompts: PLME Supplement Essay Prompt 1: Most high school seniors are unsure about eventual career choices. What experiences have led you to consider medicine as your future profession? Please describe specifically why you have chosen to apply to the Program in Liberal Medical Education in pursuit of your career in medicine. Also, be sure to indicate your rationale on how the PLME is a â€Å"good fit† for your personal, academic, and future professional goals. (Please limit your response to this question to 500 words.) PLME Supplement Essay Prompt 2: Since the Program in Liberal Medical Education espouses a broad-based liberal education, please describe your fields of interest in both the sciences and the liberal arts. Be specific about what courses and aspects of the program will be woven into a potential educational plan. (Please limit your response to this question to 500 words.) PLME Successful Essay Examples EJW2154 Brown University ‘20 A few months ago, I came across a video called the â€Å"Brown Difference.† If I hadn’t seen that video, I would never have believed that another person had pursued the same esoteric double concentration that attracted me. Jennifer Tsai, class of 2014, spoke of not only her studies in Human and Health Biology and Ethnic Studies, but also of Brown’s PLME program that supported her to thrive in these two seemingly disparate fields. Her words echo not only the path I want to take, but also the community to thrive in. Keep reading.Morgan Brown University The most attractive feature of the PLME program is the heavy emphasis on liberal arts education in order to fully achieve a medical doctorate. As a Latin scholar at a high school for science and technology, I have always made sacrifices to pursue the classics, and have been planning to do the same throughout college. However, because the PLME encourages and allows for a premedical student to fully indulge in a liberal arts education, this program would be a perfect fit for me. I would plan to take the necessary premedical courses as well as the related science courses that interest me, specifically to prepare me for a career in anesthesiology. These include Organic Chemistry, Biotechnology in Medicine, Tissue Engineering, and Synthetic Biological Systems. Continue reading. What You Need to Know about PLME 1. Applicants and Acceptance Rates This BS/MD program is highly selective, since it accepts students to both the undergraduate and graduate program at Brown. The school usually only accepts approximately 100 PLME students every graduating class. To put this into perspective, PLME’s acceptance rate was 3.67% in 2015, while Brown’s overall acceptance rate in 2015 was 9.5%. 2. Early Regular Decision PLME applicants can submit their application during both the Early Decision round and the Regular Decision round. Because you’re applying to both the university and the medical school, there are a few things you should know. 3. Transfer Opportunity If you’re accepted to Brown’s PLME, you’re accepted to the college and the medical school. That’s pretty straightforward. PLME applicants can be accepted early decision to the College only and not the PLME. Early PLME applicants are bounded by the early decision agreement and are obligated to enroll regardless of the outcome of the PLME application. Students rejected from the PLME early decision will be reconsidered for regular decision. Applicants not admitted to the PLME will still be considered for admission to the College for their undergraduate degree. The PLME is only offered to prospective freshmen students. It is not available for students who are transferring from other universities. No internal transfers are available to Brown students as well. 4. Withdrawal or Other Medical Schools Once you’re accepted to the PLME, you will have to complete the requirements of all PLME students. There are specific PLME courses students have to take and are more rigorous than the general pre-medical studies. PLME students also have a grade level they must maintain throughout their 4 undergraduate years at Brown. PLME students are free to apply out of PLME, which means they are free to apply to other medical schools. In order to do so, they must notify the university by September 15th of their senior year. If you choose to apply out, you will forfeit your reserved spot at the Warren Alpet Medical School. You’ll be required to follow traditional medical school application path, including taking the MCAT. You are welcome to re-apply to Warren Alpet, along with other medical schools you wish to apply to. Ourpremium plansoffer different level of profile access and data insights that can help you get into your dream school. Unlock any of ourpackagesor search ourundergraduate profile databaseto find specific profiles that can help you make an informed choice about where to apply!

Renaissance and the church

Renaissance and the church The renaissance period is known to have had various effects on the Catholic Church, both positive and negative. This was the period when the Catholic Church gained a lot of popularity from people. However, it was also during this period when the church almost collapsed. This paper seeks to establish the various ways that the rise and the near collapse of the church were due to the renaissance period.Advertising We will write a custom essay sample on Renaissance and the church specifically for you for only $16.05 $11/page Learn More Despite the very many contrasts that were existent during this period, there was a declining influence of the Catholic Church. Most humanists thought that the church still had traditional rules, values and policies which they felt that they were getting outdated and should therefore change. In the earlier periods, the Catholic Church was an imperative part of the structure that was based on the faithfulness between vassals of the feudal system and the lords. In the renaissance period however, there was a shift on focus from religious matters to money matters. The church had a hard time adjusting to this fresh philosophy. As a result the church had been accused on the grounds of corruption on several occasions, an act which gave the church a bad reputation. The high regard of the church was also wounded as some church heads desecrated the biblical regulations they were delegated to uphold and existed no differently that the worldly merchants and political numbers. This was additionally compounded by the comprehension by the new sovereigns that, in order to maintain supremacy, the church had to operate according to its traditional rules and regulations, practices that were fading in the church. This was because some church leaders were acting in a manner which was in accordance to the principles of the Catholic Church. Although there was decline in the popularity of the Catholic Church during this era, there w as some growth in religious matters. This mostly happened in the 14th to the 15th century in a period which later came to be known as The Reformation. It was more critical in the 16th century. Decline of the Church The papal patio was mortified when, in the in the early years of the 14th century, the French emperor enforced them to Avignon. This strained move led the churches uppermost leaders to emerge as the subjects of France.Advertising Looking for essay on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More The church, in its place of providing religious leadership to the rapidly shifting society, became pre-occupied with its management of staff and procedures. The dilemma became even worse during the Great Schism, when opponent popes vied for power of the church. This was evidence of greed in the church. The ultimate outcome further lessened the political weight of the church. There were commendable leaders of the Catholi c Church for the duration of these times. Nicholas V and Pius II, who followed after the latter, were educated, devout and dignified heads of the church. There were in addition other popes, like Alexander VI, who was pope in the year 1492, Julius II and also Leo X, who were primarily concerned with the political grounds, the endorsement of their families and the benefaction of the art. These popes additionally weakened the capability of the Catholic Church to have authority on the society and also in politics. With its destabilized authority, the church established that its papal power was getting increasingly challenged, both in the vicinity and countrywide. These tests to the papal influence, known as â€Å"heresy†, burgeoned, and critics turned out to be more candid and copious The Growth of Religion The worry of the churches situation was a consequence of the power of the church, not the flaw. The pressure of the Catholic Church was failing but there was yet increasing re cognition of religion all the way through all regions of Europe (Barry, 11). Religion started to revolutionize. Preachers called on the sinners to ask forgiveness (repent). This association believed in straight revelations from God devoid of the church as an agent. People who protested the Catholic Church, along with their contradictory beliefs, posed a menace to customary religion. Popular unorthodox movements sustained their growth and continued to dare papal authority. Some fractions of these movements happened to be so willing to have the whole Catholic Church done away with. For the duration of the 14 century, a British theorist, John Wycliffe started airing his grievances against the Catholic Church in his trainings and scripts. These heretics grow to be popular due to their attacks, but they hang about as a small underground. The preponderance of the reformers expected to modify the Catholic Church, not get rid of it. There was a very significant theologian in the early times of the 16th century at the University of Paris who supported conciliar theory. This hypothesis aimed at making a reformation to the Catholic Church by eliminating the supreme influence of the pope and putting it in a common council.Advertising We will write a custom essay sample on Renaissance and the church specifically for you for only $16.05 $11/page Learn More The renaissance period can hence be seen as a period that meant a lot of trials and consequent tribulations to the Catholic Church as a whole. It kept the church in constant upheavals (Starn, 22). Barry, William. The Renaissance. The Catholic Encyclopedia. New York: Robert Appleton Company, 1911. Vol. 12. Starn, Randolph. A Postmodern Renaissance? Renaissance Quarterly. 2007. 60(1): 1-24

Berlin Airlift and Blockade in the Cold War

Berlin Airlift and Blockade in the Cold War With the conclusion of World War II in Europe, Germany was divided into four occupation zones as had been discussed at the Yalta Conference. The Soviet zone was in eastern Germany while the Americans were in the south, the British the northwest, and the French the southwest. Administration of these zones was to be conducted through the Four Power Allied Control Council (ACC). The German capital, located deep in the Soviet zone, was similarly divided between the four victors. In the immediate period following the war, there was great debate regarding what extent Germany should be allowed to rebuild. During this time, Joseph Stalin actively worked to create and place in power the Socialist Unity Party in the Soviet zone. It was his intention that all of Germany should be communist and part of the Soviet sphere of influence. To this end, the Western Allies were only given limited access to Berlin along road and ground routes. While the Allies initially believed this to be short-term, trusting to Stalins goodwill, all subsequent requests for additional routes were denied by the Soviets. Only in the air was a formal agreement in place which guaranteed three twenty-mile-wide air corridors to the city. Tensions Increase In 1946, the Soviets cut off food shipments from their zone into western Germany. This was problematic as eastern Germany produced the majority of the nations food while western Germany contained its industry. In reply, General Lucius Clay, commander of the American zone, ended shipments of industrial equipment to the Soviets. Angered, the Soviets launched an anti-American campaign and began to disrupt the work of the ACC. In Berlin, the citizens, who had been brutally treated by the Soviets in the closing months of the war, voiced their disapproval by electing a staunchly anti-communist  city-wide government. With this turn of events, American policymakers came to the conclusion that a strong Germany was necessary to protect Europe from Soviet aggression. In 1947, President Harry Truman appointed General George C. Marshall as Secretary of State. Developing his Marshall Plan for European recovery, he intended to provide $13 billion in aid money. Opposed by the Soviets, the plan led to meetings in London regarding reconstruction of Europe and the rebuilding of the German economy. Angered by these developments, the Soviets began stopping British and American trains to check the identities of the passengers. Target Berlin On March 9, 1948, Stalin met with his military advisors and developed a plan for forcing the Allies to meet his demands by regulating access to Berlin. The ACC met for the last time on March 20, when, after being informed that the results of the London meetings would not be shared, the Soviet delegation walked out. Five days later, Soviet forces began restricting Western traffic into Berlin and stated that nothing could leave the city without their permission. This led to Clay ordering an airlift to carry military supplies to the American garrison in the city. Though the Soviets eased their restrictions on April 10, the pending crisis came to head in June with the introduction of a new, Western-backed German currency, the Deutsche Mark. This was ardently opposed by the Soviets who wished to keep the German economy weak by retaining the inflated Reichsmark. Between June 18, when the new currency was announced, and June 24, the Soviets cut off all ground access to Berlin. The next day they halted food distribution in the Allied parts of the city and cut off electricity. Having cut off Allied forces in the city, Stalin elected to test the resolve of the West. Flights Begin Unwilling to abandon the city, American policymakers directed Clay to meet with General Curtis LeMay, commander of United States Air Forces in Europe, regarding the feasibility of supplying West Berlins population by air. Believing that it could be done, LeMay ordered Brigadier General Joseph Smith to coordinate the effort. Since the British had been supplying their forces by air, Clay consulted his British counterpart, General Sir Brian Robertson, as the Royal Air Force had calculated the supplies required to sustain the city. This amounted to 1,534 tons of food and 3,475 tons of fuel per day. Before commencing, Clay met with Mayor-Elect Ernst Reuter to ensure that the effort had the support of the people of Berlin. Assured that it did, Clay ordered the airlift to move forward on July 26 as Operation Vittles (Plainfare). As the US Air Force was short on aircraft in Europe due to demobilization, the RAF carried the early load as American planes were moved to Germany. While the US Air Force began with a mix of C-47 Skytrains and C-54 Skymasters, the former was dropped due to difficulties in unloading them quickly. The RAF utilized a wide array of aircraft from C-47s to Short Sunderland flying boats. While initial daily deliveries were low, the airlift quickly gathered steam. To ensure success, aircraft operated on strict flight plans and maintenance schedules. Using the negotiated air corridors, American aircraft approached from the southwest and landed at Tempelhof, while British aircraft came from the northwest and landed at Gatow. All aircraft departed by flying due west to Allied airspace and then returning to their bases. Realizing that the airlift would be a long-term operation, the command was given to Lieutenant General William Tunner under the auspices of the Combined Airlift Task Force on July 27. Initially derided by the Soviets, the airlift was allowed to proceed without interference. Having overseen the supply of Allied forces over the Himalayas during the war, Tonnage Tunner quickly implemented a variety of safety measures after multiple accidents on Black Friday in August. Also, to speed up operations, he hired German work crews to unload aircraft and had food delivered to pilots in the cockpit so they would not need to deplane in Berlin. Learning that one of his flyers had been dropping candy to the citys children, he institutionalized the practice in the form of Operation Little Vittles. A morale-boosting concept, it became one of the iconic images of the airlift. Defeating the Soviets By the end of July, the airlift was delivering around 5,000 tons a day. Alarmed the Soviets began harassing incoming aircraft and attempted to lure them off course with fake radio beacons. On the ground, the people of Berlin held protests and the Soviets were forced to establish a separate municipal government in East Berlin. As winter approached, airlift operations increased to meet the citys demand for heating fuel. Battling severe weather, the aircraft continued their operations. To aid in this, Tempelhof was expanded and a new airport built at Tegel. With the airlift progressing, Tunner ordered a special Easter Parade which saw 12,941 tons of coal delivered in a twenty-four hour period on April 15-16, 1949. On April 21, the airlift delivered more supplies by air than typically reached the city by rail in a given day. On average an aircraft was landing in Berlin every thirty seconds. Stunned by the success of the airlift, the Soviets signaled an interest in ending the blockade. An agreement was soon reached and ground access to the city reopened at midnight on May 12. The Berlin Airlift signaled the Wests intention to stand up to Soviet aggression in Europe. Operations continued until September 30 with the goal of building a surplus in the city. During its fifteen months of activity, the airlift provided 2,326,406 tons of supplies which were carried on 278,228 flights. During this time, twenty-five aircraft were lost and 101 people killed (40 British, 31 American). Soviet actions led many in Europe to support the formation of a strong West German state.

Destination Management Essay Example | Topics and Well Written Essays - 2750 words

Destination Management - Essay Example Destination management has therefore become a recommendable system to any destination that expects to remain relevant in the world market. A good plan for any destination is very important based on various reasons that are highlighted herein. One of the best reasons is been able to predict and regulate some of the changes that come with hosting visitors in a destination ( Khraisheh & Jawahir, 2011, p. 154).The ability to predict lies on the dynamics of the industry as well as the seasonality. Tourists flow in a particular destination depends on seasonality in year. Visitors will tend to develop interest in visiting destinations during particular seasons. This may be during cold seasons or certain times in a year when specific attractions can be witnessed. Another importance of destination management is to promote optimal development and orderliness. A destination manager should consider factors that may cause overflow of visitors in a destination and regulate such incidences by enfor cing policies that control the flow of tourist. This promotes development of the destination and prevents straining of basic amenities and degradation of the attractions (Mazane, 1999, p.214). The ability to have order in a destination promotes environmental conservation and prevents hostility from the host communities. In order to achieve the defined goals of destination management, the ability to demonstrate clearly defined objectives is vital. Objectives of a destination should be more elaborate and driven towards the achievement of a certain goal. Destinations are managed in order to realize profits while at the same time satisfying the visitor’s expectations (Robinson, 2011, p.68). Through the application of objectives and goals a destination is able to come with a strategic plan that is meant to boost the economy of a destination. Strategic plan may be by providing incentives to visitors, having political stability, good road network and infrastructure, ruling out any t ransmittable disease and so forth. A destination should be safe and secure so as to attract visitors. A strategic plan reduces loses while at the same time optimizing the benefits depending on a destinations carrying capacity. If a manager is able have an organized and a well-planned way of controlling and maintaining a constant flow of visitors in a destination, it becomes easier to optimize and plan on how to realize profits and reduces loses (Lis, 2010, p.77). This is possible only if a manager is able to research on the market dynamics and the chances of receiving visitors. Therefore proper planning requires the ability to optimize benefits while at the same time reducing loses. A good destination manager takes into consideration the needs of key players and stakeholders in the industry. The needs of stakeholders vary depending on the factors that influence the tourism markets (Das Gupta, 2011, p.239). Stakeholders include the tour operators, travel agents, transport systems, ac commodation facilities and recreation centers. The integration of all these stakeholders makes a destination complete through having a larger participation. Therefore it is important to put other stakeholder interests into consideration since they play part in some key roles in the industry. Figure 1.1 Integration in the industry Tour operators Tourism organizations Transport Travel Agents A place can only be referred to as a destination depending on the fact that it has all the necessities that are required. This includes

Hand Hygiene Research Paper Example | Topics and Well Written Essays - 1000 words

Hand Hygiene - Research Paper Example 98) Recent statistics underscore the seriousness of this practice as about 80,000 people die annually because of infections that result out of poor hand hygiene. (p. 98) Description of Literature on the Subject Hand hygiene is considered part of the fundamental healthcare standards for health care providers. It is expected, hence, that it is sufficiently covered in the corpus of medical literature, particularly in health care service. To verify this, several medical references were exhausted, ranging from medical standards, disease treatment and control, best practices in the industry, to medical guides for professional health care, among other related sources. A special attention was given to those nursing-related references. The investigation of the literature revealed a comprehensive and detailed academic works that have been undertaken according to scientific and medical standards. All in all, the literature is credible, authoritative and complete. Effective Hand Hygiene The book , The Foundation of Nursing (2005), explained that hand hygiene includes â€Å"hand washing (using plain soap and water), antiseptic hand wash (using antimicrobial substances and water), antiseptic hand rub (using alcohol-based hand rub), and surgical hand antisepsis (using antiseptic hand wash or antiseptic hand rub preoperatively by surgical personnel to eliminate transient resident hand flora). (White, p. 527) Numerous sources are one in explaining in detail the procedures by which the previously outlined hand hygiene procedures can be effectively carried out. Gregory and Mursell (2010) summed them into the following guide: 1. All wrist and hand jewelry should be removed prior to hand-cleansing. Cuts and abrasions must be covered with waterproof dressings. Finger nails should be kept short and free from nail polish. 2. Hand washing techniques involve three phases – preparation, washing and rinsing, and drying: a. Wet the hands under running tepid water BEFORE applying cle aning preparations. b. Hand wash solution must come into contact with ALL of the surfaces of the hand. c. The hand must be RUBBED together for between 10 to 15 seconds paying particular attention to the tips of the fingers, the thumb and the areas between the fingers. d. Hands should be rinsed thoroughly before drying. 3. When decontaminating hands using an alcohol hand-rub, hands should be free of dirt and organic material. The hand-rub solution must come into contact with all surfaces of the hand. (p. 231) Current Practice Even though hand hygiene requires very simple procedure and supposedly form part of the standard routines of medical professionals, its compliance rate is as low as 50%. (Creedon 2005, p. 208-216) Mayers’ (2009) work was more detailed and dismal in depicting this statistics. He found that compliance with hand hygiene and proper glove use ranged from 9% to 25%. (p. 1284) Indeed, according to Dixon’s (2008) research, staff members do not wash hands e nough, at the right time to employ optimal technique and that efforts at interventions such as education and training in order to increase compliance are not overly successful. (p. 247) Several reasons are given why medical service providers fail to practice proper hand hygiene besides sheer neglect. Some of these are listed below: 1. dermatitis and skin problems, which affect that frequency of