Friday, November 29, 2019
An Old Woman With Crocodile Boots free essay sample
The elevator doors open and an eighty-year-old woman wearing crocodile boots, and a full face of make-up steps out into a five-star restaurant. Ignoring the shocked eyes of her onlookers, she confidently maneuvers her way through the busy tables to the hostess station. Trailing behind her are my mortified parents, who are surprisingly overshadowed by a woman fifty years their senior. This vivacious, self-assured woman is my great-grandmother, Freda Kaigh. Although I was three when she passed away, she has left an imprint on me. Throughout my life, Nanny has been a source of confidence and motivation, inspiring me to accomplish things I never believed I could achieve. Freda was born in Ukraine and immigrated with her Jewish parents to the United States at the age of three. Within years of her arrival, Freda became the oldest sibling to four brothers. Growing up in the early 1900s, Fredaââ¬â¢s brothers were favored over her and had more support to continue their education. We will write a custom essay sample on An Old Woman With Crocodile Boots or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Her parents ran a small grocery store, and they wanted their children to be even more successful. They encouraged their sons to attend college and were not concerned with their daughterââ¬â¢s education. Freda, however, pushed past her brothers and demanded the opportunity to attend college. After graduating college, Freda worked as a pharmacist in a Philadelphia drug store. She was loved among her customers and formed strong relationships with each of them. During this time, Freda gave birth to two children and, without a husband, supported her family throughout The Great Depression. As her children grew older, she urged them to become lawyers or doctors, even though this was rare for Jews at the time. With her guidance, her son Irving eventually became a doctor, and followed in the footsteps of his motherââ¬â¢s success. Fredaââ¬â¢s daughter Gloria attended college and advocated for people who could not afford prescription medication. Everywhere she went, Fredaââ¬â¢s dem eanor advertised her confidence and she was respected by friends and colleagues alike. She never let society dictate to her how she should behave. Instead, Freda pursued happiness in her own unique way. Freda was so strong-willed that she continued to work until she was forced into a wheelchair at the age of ninety. My grandmother had to take Nannyââ¬â¢s license away because she was just too stubborn to stop driving on her own. Nannyââ¬â¢s life story has influenced me to constantly pursue my objectives. Although our lives have been separated by a century, our perspective is parallel. As a single Jewish mother, she endured great difficulties and occasional biased opinions. In my life, Nannyââ¬â¢s spirit has inspired me to break down gender barriers. My personal dream is to become a lawyer in a world where women and men are seen as equals. By following her legacy, I will push myself beyond the expectations of others. Even though she passed away when I was only three, Nanny co ntinues to compel me to stretch my arms out and reach for success. To keep the memory of my great-grandmother alive, I have a shelf dedicated to her in my bedroom. It contains her sunglasses, ring-holder, mother-of-pearl makeup case, and a wooden merry-go-round. These items are a constant reminder of Nannyââ¬â¢s life story and serve as daily source of inspiration. I will hopefully pass these items on to my children and raise them as Nanny raised hers. When I turn eighty, maybe I will be the one confidently wearing crocodile boots in an upscale restaurant while turning the heads of shocked onlookers.
Monday, November 25, 2019
Turn-Taking Definition in Conversation Analysis
Turn-Taking Definition in Conversation Analysis In conversation analysis, turn-taking is a term for the manner in which orderly conversation normally takes place. A basic understanding can come right from the term itself: Its the notion that people in a conversation take turns in speaking. When studied by sociologists, however, the analysis goes deeper, into topics such as how people know when its their turn to speak, how much overlap there is between speakers, when its OK to have overlap, and how to consider regional or gender differences. The underlying principles of turn-taking were first described by sociologists Harvey Sacks, Emanuel A. Schegloff, and Gail Jefferson in A Simplest Systematics for the Organization of Turn-Taking for Conversation in the journalà Language, in the December 1974 issue. Competitive vs. Cooperative Overlap Much of the research in turn-taking has looked into competitive versus cooperative overlap in conversations, such as how that affects the balance of power of those in the conversation and how much rapport the speakers have. For example, in competitive overlap, researchers might look at how one person dominates a conversation or how a listener might take some power back with different ways of interrupting.à à In cooperative overlap, a listener might ask for clarification on a point or add to the conversation with further examples that support the speakers point. These kinds of overlaps help move the conversation forward and aid in communicating the full meaning to all who are listening. Or overlaps might be more benign and just show that the listener understands, such as by saying Uh-huh. Overlap like this also moves the speaker forward. Cultural differences and formal or informal settings can change whats acceptable in a particular group dynamic.à à Examples and Observations Television programs, books, and films present some fine examples of turn-taking. Christine Cagney: Im being quiet now. That means its your turn to talk.Mary Beth Lacey:à Im trying to think of what to say.(Cagney Lacey, 1982) Once a topic is chosen and a conversation initiated, then matters of conversational turn-taking arise. Knowing when it is acceptable or obligatory to take a turn in conversation is essential to the cooperative development of discourse. This knowledge involves such factors as knowing how to recognize appropriate turn-exchange points and knowing how long the pauses between turns should be. It is also important to know how (and if) one may talk while someone else is talking- that is if the conversational overlap is allowed. Since not all conversations follow all the rules for turn-taking, it is also necessary to know how to repair a conversation that has been thrown off course by undesired overlap or a misunderstood comment. Cultural differences in matters of turn-taking can lead to conversational breakdown, misinterpretation of intentions, and interpersonal intergroup conflict. (Walt Wolfram and Natalie Schilling-Estes, American English: Dialects and Variation. Wiley-Blackwell, 2006) The Wolf: Youre Jimmie, right? This is your house?Jimmie: Sure is.The Wolf: Im Winston Wolfe. I solve problems.Jimmie: Good, we got one.The Wolf: So I heard. May I come in?Jimmie: Uh, yeah, please do.(Pulp Fiction, 1994) Turn-Taking and Parliamentary Procedure The rules regarding turn-taking in formal situations can differ markedly than between people who are speaking casually together. Absolutely fundamental to following parliamentary procedure is knowing when and how to speak in your correct turn. Business in deliberative societies cannot be conducted when the members are interrupting each other and when they are speaking out of turn on unrelated subjects. Etiquette calls interrupting someone else rude behavior and unfitting for people in refined society. [Emily] Posts book of etiquette goes beyond this to describe the importance of listening and responding to the correct topic as being part of good manners when participating in any form of conversation. By waiting your turn to speak and avoiding interrupting another person, you not only show your desire to work together with the other members of your society, you also show respect for your fellow members. (Rita Cook, The Complete Guide to Roberts Rules of Order Made Easy. Atlantic Publishing, 2008) Interrupting vs. Interjecting Sometimes butting in while someone is talking may not be considered as interrupting, but only interjecting. To be sure, a debate is as much about performance and rhetoric (and snappy one-liners) as it is about meaningful dialogue. But our ideas about conversation inevitably shape how we perceive the debates. This means, for example, that what seems an interruption to one viewer might be merely an interjection to another. Conversation is an exchange of turns, and having a turn means having a right to hold the floor until you have finished what you want to say. So interrupting is not a violation if it doesnââ¬â¢t steal the floor. If your uncle is telling a long story at dinner, you may cut in to ask him to pass the salt. Most (but not all) people would say you arenââ¬â¢t really interrupting; you just asked for a temporary pause. (Deborah Tannen, Would You Please Let Me Finish ... The New York Times, Oct. 17, 2012)
Thursday, November 21, 2019
Petro-Canada's Total Compensation Strategy and Program Research Paper - 1
Petro-Canada's Total Compensation Strategy and Program - Research Paper Example However, the report analyses the above compensation structure before the occurrence of the merger between Petro-Canada and Suncor Energy. The idea is to analyze the compensation package of this employee to evaluate the same for the organization. Overview of the Company It is important to provide an introduction about the company before studying its compensation structure. Petro-Canada is a public organization producing oil and gas organization and taking part in all of the upstream and downstream operations. The company is known for exploring for and producing energy not only locally but also internationally. It has as many as 1,323 retail outlets which supplies petroleum products and services across the nation (The Canadian Encyclopedia, 2011). Headquarter of the company is located at the in downtown Calgary in Alberta. In the year 2008, the total revenue of the company was $27,785,000, while its employee strength was 6,088 (Petro-Canada, 2008, p.110). The oil and gas industry in Ca nada happens to be highly competitive having strong competitors like Encana etc. The objective to increase strength and emerge as a larger oil and gas company the company decided to merge with Suncor in the year 2009. However, now it operates as a subsidiary under the parent company, Suncor Energy (Suncor Energy Inc, n.d). Compensation Program for Applications Analyst I The compensation package received by an applications analyst I is quite favorable (Please refer Appendix 1). Cash Compensation The cash compensation received by an Applications analyst I in Petro-Canada is CDN$75,000-85,000 (Tang, 2010). This is a much higher amount as compared to the average market rate which is $50,795 (Pay Scale, 2011). Thus it can be said that the company has a lead policy in this regard. Apart from having an attractive salary the company also has a scheme of sharing profits with employees which happens at the end of each fiscal year. The amount of the profits shared with the workers depends on t he performance of the company at that financial year. As per the rules of the company an Application Analyst I is able to earn an amount of 10% of his base pay as profit sharing. In this way an employee could earn as high as 15% to 20% when the company has a successful performance in a year (Tang, 2010). Benefits Every staff in the company is subjected to the same comprehensive benefits and there is no biasness in that. Some of the benefits are determined by the company; however certain benefits schemes are subjected to more flexibility by the employees. Employees have certain amount of liberty to decide plans for the schemes. Thus, a flexible policy of benefits was developed by Petro-Canada to provide workers with the flexibility to choose their benefit coverage as per their choice. Beginning from the day the employee starts working with the organization, he is entitled to the following benefit schemes. Medical Insurance Companies generally provide benefits regarding the medical ex penses of the employees. This type of benefit forms a major part in employee benefit policy. It has often seen that if the employeesââ¬â¢
Wednesday, November 20, 2019
Britain ID Cards Debate Essay Example | Topics and Well Written Essays - 1000 words
Britain ID Cards Debate - Essay Example Yes, a law was broken. Even though Transport Security Administration Officials argue that they did not violate the Privacy Act of 1974, the fact is that 5 million JetBlue customers had an expectation of privacy and did not consent to their personal information being turned over to a third party. They submitted their information for the purpose of obtaining a specific service and when doing so, did not consent to the passing of their information to any other party. Accordingly, in my opinion, both the spirit and the letter of the law were violated. According to several sources, such as CNet, Wikipedia, and DarkNet, the first computer virus struck in the early years of the 1970s and was called the Creeper virus. The exact year of its release is unknown but it is commonly regarded as the first computer network virus. Secure Socket Layer (SSL) is a protocol that Netscape created. In brief, it enables the establishment of a secure connection between web servers and web clients. Generally speaking, SSL employs the public key cryptology system as a means of ensuring data security during a transmission process. In an SSL session, both client and server create a unique session key which will be used for the encryption of sensitive data during SSL data exchange process. WRAM stands for Windows Random Access Memory. It is a type of RAM developed by Samsung Electronics for the achievement of faster display performance. WRAM is capable of the faster display as it supports two ports, allowing the video adapter to fetch and display images while new image bytes are being loaded into its memory. It is, thus, much faster than the single port RAM 1) Name Netsky.P Description: In 2005, PC Magazine published an April Foolââ¬â¢s story which claimed that the Center for Disease Control had discovered that the Netsky.
Monday, November 18, 2019
Jazz Music in America from 1900 to 1920 Research Paper
Jazz Music in America from 1900 to 1920 - Research Paper Example As the discussion stressesà originating in the United States among African American communities, jazz has played a powerful role with respect to the development of popular music within the 20th century. This form of music was originally the result of a type of synthesis between African and European/American musical instruments/styles. Key elements that help to differentiate jazz from other forms of music are concentric upon the fact that jazz incorporates the following components: swing tones, improvisation, syncopation, blue notes, and poly-rhythms. Additionally, jazz has also incorporated elements of American popular music, further proving it to be one of the most syncretic types of music. As a direct result of the change that has been presented with respect to jazz music, it has continued to evolve and currently represents one of the most dynamic musical genres.à From this paper it is clear thatà the transatlantic slave trade can at least be partially understood to have cont ributed heavily to the influx of jazz instrumentation, style and culture from parts of West Africa. During this time, roughly half a million sub-Saharan Africans were taken to the Americas. These slaves were mainly from West Africa and the majority of them originated from the Congo River basin. With them, they brought strong musical traditions.à Understanding concerning jazz music cannot be wholly separated from an understanding of unique societal patterns and/or the politics of a particular era.
Saturday, November 16, 2019
Distinguishing Men From Animals With Culture
Distinguishing Men From Animals With Culture For culture is the sociological term for learned behaviour: behaviour which in man is not given at birth, which is not determined by his germ cells as the behaviour of wasps or the social ants, but must be learned anew from grown people by each new generation. The degree to which human achievements are dependent on this kind of learned behaviour is mans great claim to superiority over all the rest of creation; he has been properly called the culture being animal. Benedict Different people may have different definition of culture. The most common definition of culture is that culture means the mode of human activities, such as human knowledge, learning and belief which are integrated in the symbolic thoughts. Culture includes ideas about identity, nature, social relationship and so on, as well as artifacts. This topic is based on several assumptions. Firstly, this essay assumes that humans are not animals and only men have culture while animals do not have any. I also assumed that culture can be definite. In the following, I will discuss the perspective of human in the point of view for zoologists, and also the inter-specific relationships between human and animals. This might counter my argument of culture distinguishes men from animals. Secondly, I will discuss Zoologist accounts on the human-animals inter-specific relationship To zoologists, all animals (including human beings) are equally interesting. For them, all animals undergo the inter-specific relationship which is in the food chain, i.e. prey, symbiont, competitor, parasite and predator, and human beings exist in these pair of species. According to The Naked Ape (1967) by British zoologist, Desmond Morris, Any species which competes with us for food or space, or interferes with the efficient running of our lives, is ruthlessly eliminatedà ¢Ã¢â ¬Ã ¦Large carnivores have been out other serious competitors and these too have been eliminated wherever the population density of out species has risen above a certain level. Same as in the predator relationship, we humans are involved in it. Morris (1967) stated that larger carnivores such as sharks which are the killers are accounted for more humans deaths than any other is one cannot devour the nutritious corpuses it produces. Moreover, Morris (1967) also pointed out that the inter-specific relationship appears to human and other animals not only in the food chain, but also in other ways. For example, human beings could not resist to say Hi or any other greetings to his/her own pet, such as his/her own dog. Even we all know the animals will not understand, we still could not resist the temptation. We could not explain that. The response was just triggered off inside us when we see the animal. Furthermore, Morris (1967) also pointed out that out love or hatred to the animals is also included in the human-animal relationship. Through this, we can see the inter-specific relationship between human beings and animals exist in the vast amount of cultures, or even, we carried further in these relationships than other animals. Therefore, to zoologists, humans are not unique in these respects. Biological differences between human and other animals However, biologist anthropologists and other biologists may argue that there is something which is different in human than in other animals, which this will lead to human are not animals (which I assumed before). So what distinguishes us from other species on animals? Gorillas and chimpanzees are close primate relative to humans. Compare to chimpanzees, human has 98 percent of genes same as the chimps. The differences between human and chimpanzees were brought by the 2 percent difference in our genes. Biological anthropologists believe that human beings have got a familiar skeletal hallmark. The major difference is that humans are bipedalism (standing on two legs) and the adaptation of the straight, upright gaits. Humans are having particular small teeth and large braincase as well. The 2 percent difference also brought the difference of using modern language to communicate idea. Human beings also use culture, which are complex ideas to survive. These are all the anatomical character of human beings. Human evolution in human brains: What is in the Homo sapiens mind? According to Jerome Kagan (2004), at the end of the first year, human and chimpanzee infants are similar to each other, Both of the species locomote, attend to unexpected or unfamiliar events, and remember where an attractive object disappeared ten seconds earlier. However, 24 months later, maturational changes occur in human brain and it brought four unique quantities for humans: (1) Children can infer varied thoughts and feelings in others; (2) Children use a symbolic language with a grammar and semantic categories for events that share no physical feature; (3) Understand for the concepts of good. Bad, right and wrong; (4) Become consciously aware of some of their intentions and feelings. Moreover, Kagan also stated that chimpanzees are incapable of appreciating the partner intends to engage in reciprocally cooperative act has no implication for the gaining of food or protectionà ¢Ã¢â ¬Ã ¦Every two-year-old child makes this simple assumption automatically. Therefore, it is beli eved that a pair of chimpanzees could not throw a ball back and forth between them, while a pair of humans will assume to throw the ball back. One of the unique characteristic in human brains is the feeling of guilty. Human is the only animal species which will feel guilty, it is not possible even in our close primate relatives such as the chimpanzees. Kagan explained that Guilt requires an agent to know that a voluntary act that could have been suppressed has hurt another. Guilt requires the ability to reflect on a past action that injured another in some way, to realize that the behaviour could have been inhibited, and to appreciate that the self was the cause of the ethical violation. During human evolution, human developed to be conscious and aware to others feeling, while other animals did not. Thus, the feeling of guilty is one feature which makes human unique. Kagan pointed out another unique quality of Homo sapiens is the consciousness of ones feelings, intentions and properties, which is called sensory awareness. According to Kagan, there is not just only one form to awareness. It is believed that all these awareness require the brain circuits. There is awareness in properties such as consciousness in ones physical features, beliefs, talents and social categories. The other form of awareness is the awareness that one is about implement or suppress an action. Neuroscientist Michael Gazzaniga believes that there is another form of consciousness which is the interpretation of ones feelings and perceptions. However, these four forms of consciousness are not evolved in the same time, they evolve in different ages in the humans early childhood. In the first year, there will be the appearance of the awareness of sensory. In the second year, children will smile after completing a difficult task. It is not until the third year of life that childr en will be aware of their intentions and that they can describe what they are doing. Finally, in the fourth year, children can regularly integrate the present moment with their recollections of the past and begin to be able to interpret others feeling and perceptions. However, for apes, they do not possess any other forms of consciousness apart from the sensory consciousness. In terms of consciousness, human is unique. Another unique quality in the Homo sapiens is that they are the animal species which are willing to limit their offspring from inclusive fitness (the ability of an organism to ensure the survival of their own offspring or to see how their genes pass on). The family size in human families is thus decreasing. Meanwhile, in other species, they will reproduce the offspring as much as they can, so that their species would not extinct due to any environmental factors, such as drought, lack of food, lack of shelter, disease and so on. For example, female fish will lay their eggs as much as possible so that there will be a greater chance for the eggs being fertilized. Moreover, this will increase the survival rate as most of the eggs will be eaten by other marine animals or bigger fishes. This will ensure their species would not be extinct. The same theory to increase the chance of survival of offspring is also applied in all other animals, such as dogs, cats and turtles. Therefore, human is unique by limiting their offspring. Human cognition Michael Tomasello brought up the idea of ratchet effect in human cultural evolution . The most distinctive characteristic of human cultural evolution as a process is the way that modifications to an artefact or a social practice made by one individual or group of individuals often spread within the group, and then stay in place until some future individuals make further modifications and these then stay in place until still further modifications are made. The major part of the ratchet effect takes place in childhood. Taboos For Vezo people, what makes human different from animals is taboos. They believe that it is taboos which make us humans. Human beings practice a whole range of taboos which animals dont. Lambek (1992) noted that taboos are distinctive at every level of social inclusion, from humanity viewed as a whole down to the individual. The Vezos have different taboos to show respect to animals. According to Astuti (2000), Vezos do not hunt or eat dolphins because they are generous towards human. Therefore, taboos on eating or hunting dolphins as dolphins saved peoples lives by gently keeping them afloat and pushing them back to the land after their canoes had capsized. However, children are too young to know about taboos and moral issues. They do not have taboos. If taboo is the unique quality of human beings, are children considered as animals? For me, children are considered as premature humans, which they do not have much experience on what is happening in the world. Even as I mentioned above, the brains undergoes human evolution and become more consciousness and awareness in their first four years of life. They are unwise and do not understand anything. However, as they grew up, and their perspectives will be changing. For example, after they have faced the life and death of their animal pets or toys, they will understand more about human death. And as what Astuti mentioned, this will contribute to transform their appreciation of the boundary between animals and people Until they understand and appreciate the boundary between animals, they will become a mature human. It takes 5-12 years for a child to become a mature human. Therefore, taboos ma y be a unique quality for Homo sapiens.
Wednesday, November 13, 2019
Physics of Submarines Essays -- physics submarine
Submarines have been around for longer than most people think. The first American attempts at creating a submersible boat date back to the days of the Revolutionary and Civil Wars. These boats, however, turned out to be just as dangerous to the people on board as they were to the enemy boats. So the concept was put aside for a while. But in the 1890's two men named John Holland and Simon Lake built a practical underwater boat. The US Navy bought its first submarine from Mr. Holland on April 11, 1900, a date which is thought of as the birthday of the US submarine force. Submarines progressed in technology throughout the years and were used extensively and quite successfully in both world wars. The major breakthrough in submarine technology came in the next ten years after the war, when nuclear propulsion was developed. Early submarines were driven by big diesel engines. These engines provided plenty of power for turning the propellers to drive the sub as well as a way to heat the sub and provide electricity. There were however a few drawbacks, fuel economy and the ability to stay underwater for long periods of time. In order to run a diesel engine, you of course need diesel fuel and lots of it. This was a problem since you could only carry so much fuel on a ship. Also diesel engines give off emissions. This was not a problem as long as the submarine was on the surface. When they dove, however, there was only a limited amount of space in which you could pump the fumes before you had to surface and vent. You also need an oxygen intake from the surface. Both of these problems were solved, however, by nuclear power. The world's first nuclear powered submarine was an American boat called the USS Nautilus, which was p... ... . 2) Freudenrich, Craig, Ph. D., and Marshall Brian. How Submarines Work. 12 Apr. 2003 . 3) Lehman, Cherie Bibo. Doppler Effect. 10 Apr. 2003 . 4) Nuclear Propulsion. 13 Apr. 2003 . 5) Serway, Raymond A., Robert J. Beichner, and John W. Jewett, Jr. Physics for Scientists and Engineers. 5th ed. N.p.: Thomson Learning, Inc., 2000. 6) Vest, Bryant, and Juli Arendt. What is Sonar? 13 Apr. 2003 . Physics of Submarines Essays -- physics submarine Submarines have been around for longer than most people think. The first American attempts at creating a submersible boat date back to the days of the Revolutionary and Civil Wars. These boats, however, turned out to be just as dangerous to the people on board as they were to the enemy boats. So the concept was put aside for a while. But in the 1890's two men named John Holland and Simon Lake built a practical underwater boat. The US Navy bought its first submarine from Mr. Holland on April 11, 1900, a date which is thought of as the birthday of the US submarine force. Submarines progressed in technology throughout the years and were used extensively and quite successfully in both world wars. The major breakthrough in submarine technology came in the next ten years after the war, when nuclear propulsion was developed. Early submarines were driven by big diesel engines. These engines provided plenty of power for turning the propellers to drive the sub as well as a way to heat the sub and provide electricity. There were however a few drawbacks, fuel economy and the ability to stay underwater for long periods of time. In order to run a diesel engine, you of course need diesel fuel and lots of it. This was a problem since you could only carry so much fuel on a ship. Also diesel engines give off emissions. This was not a problem as long as the submarine was on the surface. When they dove, however, there was only a limited amount of space in which you could pump the fumes before you had to surface and vent. You also need an oxygen intake from the surface. Both of these problems were solved, however, by nuclear power. The world's first nuclear powered submarine was an American boat called the USS Nautilus, which was p... ... . 2) Freudenrich, Craig, Ph. D., and Marshall Brian. How Submarines Work. 12 Apr. 2003 . 3) Lehman, Cherie Bibo. Doppler Effect. 10 Apr. 2003 . 4) Nuclear Propulsion. 13 Apr. 2003 . 5) Serway, Raymond A., Robert J. Beichner, and John W. Jewett, Jr. Physics for Scientists and Engineers. 5th ed. N.p.: Thomson Learning, Inc., 2000. 6) Vest, Bryant, and Juli Arendt. What is Sonar? 13 Apr. 2003 .
Monday, November 11, 2019
Mountain Man Beer Company – Case Analysis
Case Analysis Mountain Man Brewing Company: Bringing the Brand to Light Mountain Man Brewing Company (MMBC) was founded by Guntar Prangel in 1925. He reformulated an old family brew with quality ingredients, resulting in a flavorful bitter tasting beer which was launched as the Mountain Man Lager. The brand grew to claim a respectable market share for an independent-family-owned-brewery, in whole of the East Central United States by 1960. Even today, after 80 years, the lager is a legacy brew, awarded as the Best Beer in West Virginia for many years in a row.MMBC is still a single product company and generates over $50 million in revenue and selling over 520,000 barrels of Mountain Man Lager. All has been well thus far but now the market trends are changing rapidly. Problem Statement For the first time in the 80+ years MMBC has experienced a 2 percent decline in revenue, relative to the prior fiscal year. Is this a one-time occurrence or a signal shift in the overall marketplace? Bus inesses must act in a certain manner in order to maximize profits or run the risk of losing their place in the marketplace.Chris Prangel, son of the President and owner of MMBC, Oscar Prangel, is to inherit the business in only five years. With differing management styles and thoughts on the direction the organization should take, this uncertainty could be potentially crippling over time. The question of whether or not MMBC should move ahead with Chris's plan to introduce a light beer product is the one that is most pertinent to the overall direction the company will take. The ever changing marketing environment with respect to demographic, socio-cultural, and political cenario will influence managementââ¬â¢s decision on which path to take. SWOT Analysis: Strengths Mountain Man Lager has established a brand with a strong loyal blue ââ¬âcollar clientele. This high quality lager is known for its dark color, distinct bitter taste and slightly higher alcohol content. It boasts an unaided response rate of 67% from the adult population of WV and is known to be the best regional beer. In 2005, Mountain Man Lager won ââ¬Å"Best Beer in West Virginiaâ⬠for its eighth straight year. It also won ââ¬Å"Best Beer in Indianaâ⬠and was selected as ââ¬Å"Americaââ¬â¢s Championship Lagerâ⬠at the American Beer Championship.Research has shown blue-collar males purchase 60% of the beer they drink from off-premise locations. Currently MMBC sells 70% of its beer at off-premise locations which is quiet consistent with the industry wide sales. The lager is affordably priced for the middle-to-lower income ââ¬Å"working manâ⬠, at $2. 25 for a 12-ounce serving of draft beer in a bar and selling for $4. 99 for a six-pack in a local convenience store. Market research shows, Mountain Manââ¬â¢s position as an independent, family owned brewery provides a sense of ââ¬Å"authenticityâ⬠with ââ¬Å"anti-big-businessâ⬠core drinkers.The brand is a s recognizable in the East Central region as Chevrolet and John Deere. MMBC has proven to be successful in grass-root marketing with a sales force which is known to not just push the brand but influence customers to embrace Mountain Man and promote the brand by word of mouth. Weaknesses: MMBC is well known for their bitter tasting product. This has given them great success in the past, however with the changing market they need to conform to the new way of doing business if they wish to continue to succeed in the future.Having only one main beer that is sold in the East Central region of the United States makes it hard to maintain profits. MMBC has been experiencing a decline in their sales by nearly 2%. MMBC has a very small demographic to which the lager appeals to. As such they are losing their influence over the younger market, as well as the women drinkers. The attractiveness of a bitter tasting lager doesnââ¬â¢t quite win over the younger generation. Studies have shown they prefer a light beer, something MMBC is considering developing. MMBC needs to consider the cost associated with launching the new line.They would sell the MMLight at the same price as the regular beer; however it costs considerably more to produce. Advertising would also add to the burden of MMLight. Advertising alone would cost over $750K for a six month campaign to reach brand awareness of 60%. As they still would only be able to sell the new product at the same price that their competitors are selling theirs, the cost might outweigh the rewards. Opportunities: Looking externally one can see that MMBC has many possible avenues they could take advantage of, in the changing U.S. demographic and beverage market. MMBC is known for their traditional high quality lager with the potential to expand into several fast growing markets such as light beer and super-premium beer. By entering a growing market MMBC could gain drinkers from different demographics which they currently lack, for in stance women and those in their twenties new to drinking. By implementing these changes it could offset the market share loss MMBC lager is currently facing. MMBC could restructure how they market their beer, looking at new avenues.The internet is one possibility, capitalizing on the younger generation and their anti-big-business-sentiment as a marketing tool. MMBC could try to increase sales in ââ¬Ëon-premiseââ¬â¢ locations. MMBC should also look to expand their distribution range to acquire more states in the U. S. focusing on their core grass root marketing strategies to grow their market share. Threats: The ââ¬Å"threatsâ⬠portion of a SWOT analysis is best described as an analysis of external environmental threats to the business itself.The following is a discussion of the most pertinent potential external influencers facing MMBC. Over the past four years per capita beer consumption in the US has declined by 2. 3% due in some part to competition from wine and spirit based drinks but also due to changing cultural mores encouraging moderation and personal responsibility. If this trend continues MMBC will be competing for an ever shrinking piece of the market. The potential economic and marketing response from the major brewery competitors is daunting to a company the size of Mountain Man.With economies of scale in brewing, transportation and marketing, the Budweisers of the world are formidable rivals to say the least. They could respond in such a way as to make doing business very difficult moving forward. Governmental involvement in the beer industry is another issue at hand. The Federal Government has already raised the excise tax and with laws changing how beer can be promoted in a retail setting newly passed in WV could other states in the East Central region be too far behind? The biggest potential threat is the shift in beer consumers taste to light beer and away from the premium beers overall.Light beer sales account for over 50% of all beer sales and are growing at a compound rate of 4% per year. One of the most troubling aspects of the surge in light beers popularity is the demographic that is driving it. Young, first time, beer buyers / drinkers are at the crux of the demographic and marketers understand that if you can capture a customer young enough you have them as a customer for life. Financials: A look at the market analysis show alarming trends. In 2005 MMBCââ¬â¢s revenue was down relative to the prior fiscal year.Changes in beer consumption are being driven by changing consumer segments. Light beer sales are increasing while Premium beer sales are decreasing in the east central region as seen in Exhibit 5 in the MMBC case. Super-premium beer sales increased the most by well over 9% in the past 6 years. This shows beer drinkersââ¬â¢ tastes are shifting significantly causing sales to reflect this trend. Exhibit 5 shows light beer has a much greater volume than premium beer; signifying even small marke t penetration can mean significant volumes.Looking at Exhibit 6 part A, the other brands have 14% of the light beer market beating out Coors coming in at 11%. This could imply that the light beer market is easily penetrated by a new product. Exhibit 2 examines the beer drinker demographics in 2005, MMLager has 19% of the female demographic which is only a small portion, while domestic light beer boasts of 42% of the female beer drinking demographic. MMLager is the preferred beer of only 2% people in the 21-24 yr age bracket. In the 25-34 yr age group, 15% people prefer the lager and in 19% prefer the lager in the 35-44 yr age bracket.These numbers are significantly less than those drinking domestic light beer and domestic premium beer. MMLager is losing the younger generation hands down. A large segment of the light beer drinkers (24%) make over $100 thousand dollars a year, so introducing a newer light beer at a slightly higher cost will hit a new income demographic that is not as worried about pricing. Recommendations: 1. Do nothing ââ¬â MMBC customers base drinking lager is a shrinking market. The rate at which MMBC can make new customers can only replace a fraction of existing ones.Assuming the 2% annual sales decline, by 2010, sales would have declined by 10%, the profit margin would be drastically shrunk, and with fixed costs remaining the same the company might be out of business in a matter of years. Keeping in mind the demographics, there is quiet a possibility that the rate of declining sales might accelerate due to the aging customer base. The senior management at MMBC is reluctant to launch the new product and site the examples of over 40 breweries those have closed down. But this does not, in anyway, provide any solid evidence that MMBC will fall in those same footsteps if they are to launch the new line.According to research, product line extensions ââ¬Å"helped brewers obtain greater shelf space of productsâ⬠and ââ¬Å"created greater product focus among distributers and retailersâ⬠. Suggesting that MMBC do nothing would be a very short-sighted decision and classic mistake of ââ¬Å"marketing myopiaâ⬠. MMBC should do something soon in order to keep up with the changing market. 2. Launching Mountain Man light ââ¬â The research suggests that where the brand equity drives the sales of lager; the same strategy would not work for light beer as the association of stronger, bitter flavor is not going to capture the light beer segment.MMBC needs to distance itself from the blue-collar beer image in order to attract the younger generation. 3. Launching light beer with a new name ââ¬â Data suggests that light beer should not be marketed to the existing customer base, as they are simply loyal to the original lager. As such, they should still incorporate the Mountain Man brand but name it something like ââ¬Å"Mountain Lightâ⬠. Having an affiliation with the brand will allow the same grass-root market ing strategy to be applied for marketing the light beer to the younger segment. Exhibits [pic] [pic] [pic]
Friday, November 8, 2019
Edgar Allan Poe Compared to Robert Frost Research Paper Example
Edgar Allan Poe Compared to Robert Frost Research Paper Example Edgar Allan Poe Compared to Robert Frost Paper Edgar Allan Poe Compared to Robert Frost Paper Essay Topic: Literature When comparing Edgar Allan Poeââ¬â¢s ââ¬Å"The Ravenâ⬠to Robert Frostââ¬â¢s ââ¬Å"The Road Not Takenâ⬠it seems that there are plenty of obvious similarities that are on the surface and there are subtle differences that one can find when they truly look deep into the meanings of things. In both poems the speaker is putting all meaning into what they are seeing. The speaker in ââ¬Å"The Road Not Takenâ⬠is viewing what is in front of him, ready to make an important decision in his life. He is viewing the roads as a paramount decision to make in his life. In ââ¬Å"The Ravenâ⬠the speaker is watching the raven that has enters his room, giving it major importance in what he is going through. In both poems the objects that lay in front of the speakers are devices, they are metaphors given the utmost importance. Both speakers are haunted by what has happened in their life and what could happen based on the decisions that lie in front of them. The overall tone is the difference in Robert Frost to Edgar Allan Poe. You can look at any poem that either author has written and see this. Robert Frost dealt with the trials and tribulations that life throws our way, just as Poe did. At times Frost is dark and cynical about life, but overall he is an optimist and still sees beauty in life. Poe is the antithesis of this. Poe is inherently dark and gloomy in his work. In ââ¬Å"The Road Not Takenâ⬠Frostââ¬â¢s speaker is given a choice. Heââ¬â¢s at a fork in the road in his life. Heââ¬â¢s seen the path he normally takes, itââ¬â¢s safe, but has not made him as happy as he wants to be in life. The other road is dangerous. It comes with many risks and potential pitfalls, but he feels ready to take on this challenge now. He understands this road wonââ¬â¢t be easy, but believes that anything worth having must have hardships along the way. Life and taken the safe road has taught him this. It is an optimistic tone and feeling that you have once youââ¬â¢re done with reading it. In ââ¬Å"The Ravenâ⬠it is decidedly different. The speaker has lost his love. The raven enters his room tormenting him, uttering only ââ¬Å"Nevermoreâ⬠when the speaker asks about his lost love. The speaker goes mad by wallowing in his own pity and grief. By the end of ââ¬Å"The Ravenâ⬠there is no resolution. I believe that the raven was death himself sent to take the life of the speaker. The speaker could no longer live without his love, Lenore. Distraught with grief he dies. Poe and Frost have their speakers in very similar circumstances. With no pun intended, they are at a crossroads in their lives. Poeââ¬â¢s speakers succumbs to his grief and sorrow. He never saw a way out. Frostââ¬â¢s speaker is full of regret and grief, but he still sees hope that he can live a good life, as long as he takes the road not taken.
Wednesday, November 6, 2019
Constitutions of Pakistan Essay Essays
Constitutions of Pakistan Essay Essays Constitutions of Pakistan Essay Essay Constitutions of Pakistan Essay Essay Introduction: The fundamental law of Pakistan that came into being on March 23. 1956. abolished the office of the governor-general and provided for power-sharing agreements between the president and the premier curate. East Pakistan ( now the independent province of Bangladesh ) and West Pakistan ( known as Pakistan since 1971 ) were to hold equal seats in the national legislative assembly. While parliamentary and federal in signifier. the fundamental law ensured that the president retained supreme powers and the centre was more powerful than the states. But this fundamental law had a really short life. The countryââ¬â¢s foremost general elections were scheduled for February 1959. but President Iskandar Mirza. fearing a rise in East Pakistanââ¬â¢s influence could sabotage his clasp on power. abrogated the fundamental law before the elections in 1958. set uping soldierly jurisprudence and naming ground forces head Ayub Khan as main soldierly jurisprudence decision maker. This se t a case in point for the military to asseverate itself into the countryââ¬â¢s political personal businesss. It besides led to a form of coup detats. corruption of constitutional commissariats. and a military-bureaucracy dominated executive that superseded the elected parliament. A new fundamental law came into consequence in 1962 which failed to include cardinal rights until the first amendment was made to it. allowing the executive power to the president and get rid ofing the office of the premier curate. Most significantly. it institutionalized the intercession of military in political relations by supplying that for 20 old ages. the president or the defence curate must be a individual who had held a rank non lower than that of lieutenant-general in the ground forces. In 1969. the 1962 fundamental law was suspended. soldierly jurisprudence was declared. and General Yahya Khan took over. After the sezession of East Pakistan to organize the new province of Bangladesh. a new fundamental law was brought in 1973. After taking control of the authorities in 1971. Z. A. Bhutto started work on a democratic fundamental law for the state. On 17th April 1972 the National Assembly constituted a commission to fix a bill of exchange fundamental law. The Committee worked difficult and prepared the bill of exchange of the fundamental law which was presented to the leaders of all parliamentary leaders on 20th October 1972. All the leaders signed the bill of exchange. After that it was discussed and debated n the National Assembly which gave its blessing on 10th April 1973. The President gave his acquiescence on 12th April 1973. Finally the Senate approved the fundamental law in August 1973. Consequently the fundamental law was enforced in the state on 14th August 1973. Harmonizing to the Constitution of 1973 Mr. Z. A. Bhutto expression over as the 10th Prime Minister and Mr. Fazl-e-Elahi was sworn in as the President of Pakistan. Fundamental law of Pakistan 1956: The Constitution of 1956 was the cardinal jurisprudence of Pakistan from March 1956 until the Revolution of October 1958. a ) Origins: Pakistan became independent of the United Kingdom in 1947. Under Section 8 of the Indian Independence Act. 1947. the Government of India Act. 1935 became. with certain versions. the working fundamental law of Pakistan. But the demand of a fundamental law to be framed by the elective representatives of the people was all the more necessary for the free citizens of a autonomous province. Therefore the first Constituent Assembly was formed under the Independence Act and was entrusted with two separate maps: To border a Fundamental law for the state. and To put as a Federal Legislative Assembly or Parliament until that Constitution came into consequence. The powers and maps of the cardinal legislative assembly under the Government of India Act were conferred on the Constituent Assembly. The Constituent Assembly could. nevertheless. amend the Indian Independence Act. 1947 or the Government of India Act. 1935. and no Act of the British Parliament could be extended to Pakistan without statute law by the Constituent Assembly. The first Constituent Assembly originally consisted of 69 members ; later the figure of members was increased to 79 The first large measure in the framing of a fundamental law for Pakistan was taken by the Constituent Assembly on 12 March 1949. when it passed a declaration on the ââ¬ËAims and Aims of the Constitutionââ¬â¢ . popularly known as the Objectives Resolution. It laid the foundation of the fundamental law and indicated the wide lineation of its construction. The declaration was moved by Liaquat Ali Khan. the first Prime Minister of Pakistan. While traveling the Resolution. he said: Sir. I consider this to be a most of import juncture in the life of this state. following in importance merely to the accomplishment of independency. because by accomplishing independency we merely won an chance of constructing up a state and its civil order in conformity with our ideals. I would wish to remind the house that the Father of the Nation. Quaid-i-Azam. gave look of his feelings on this affair on many an juncture. and his positions were endorsed by the state in unmistakable footings. Pakistan was founded because the Muslims of this sub-continent wanted to construct up their lives in conformity with the instructions and traditions of Islam. because they wanted to show to the universe that Islam provides a Panacea to the many diseases which have crept into the life of humanity today. ] The declaration was debated for five yearss. The taking members o f the authorities and a big figure of non-Muslim members. particularly from East Bengal. took a outstanding portion. Non-Muslim members expressed sedate apprehensivenesss about their place and function in the new policy. Hindu members of the Constitutional Assembly argued that the Aims Resolution differed with Muhammad Ali Jinnahââ¬â¢s ( Quaid-e-Azam ) position in all the basic points. Sris Chandra Chattopadhyaya said: What I hear in this ( Objectives ) Resolution is non the voice of the great Godhead of Pakistan ââ¬â the Quaid-i-Azam. nor even that of the Prime Minister of Pakistan the Honorable Mr. Liaquat Ali Khan. but of the Ulema of the land. Birat Chandra Mandal declared that Jinnah had ââ¬Å"unequivocally said that Pakistan will be a secular province. â⬠Bhupendra Kumar Datta went a measure farther: ââ¬Å"â⬠¦were this declaration to come before this house within the lifetime of the Great Creator of Pakistan. the Quaid-i-Azam. it would non hold come in its present form. After nine old ages of attempts. Pakistan was successful in bordering a fundamental law. The Constituent Assembly adopted it on 29 February 1956. and it was enforced on 23 March 1956. proclaiming Pakistan to be an Islamic democracy. B ) Commissariats: The Constitution of 1956 was drawn-out and elaborate ; it contained 234 articles divided into 13 parts and six agendas. The Fundamental law of 1956 provided for federal system with the rule of para between East Pakistan and West Pakistan. The Federal Legislature was to execute like the British Parliament. The Centre was invested with such powers as to take one-sided action in exigency and it could act upon the provincial liberty. The Fundamental law of 1956 provided for the parliamentary signifier of authorities. where existent executive authorization was vested in a cabinet. jointly responsible to the legislative assembly. The cabinet was presided over by the Prime Minister. The Fundamental law declared that there would be merely one house of parliament known as the National Assembly and equality between the two Wingss ( i. e. East Pakistan and West Pakistan ) was maintained in it. The Governor General was replaced by a President. who was to be elected by the Electoral College of Pakistan composed of members of the National Assembly and Provincial Assembly. Familiar democratic rights and freedoms such as freedom of address and look. of assembly and association. of motion and of profession were all provided in the Constitution. with the usual makings. With respects to civil rights. familiar rights such as rights of life. autonomy and belongings were granted. once more with the usual makings and precautions. The bench was given power to implement the cardinal rights and the tribunals were to make up ones mind if a jurisprudence was abhorrent to any commissariats of the cardinal rights. degree Celsius ) Salient characteristics: Written Constitution ââ¬â This is a written and drawn-out papers. Rigid Constitution ââ¬â The fundamental law could merely be amended through a procedure necessitating the amendment to be passed by at least a two-thirds bulk of the parliament and hallmark by the President. Islamic Republic of Pakistan ââ¬â The name of the state was adopted as the Islamic Republic of Pakistan. Objectives Resolution ââ¬â The nonsubjective declaration was included as permeable by the fundamental law. Federal System ââ¬â The fundamental law provides for a federal system in the state. Powers was divided between the Centre and the states. The topics were divided into three lists ; The Federal List. The Provincial List. and the Concurrent List. Unicameral Legislature ââ¬â The legislative assembly would dwell of a individual house. Both the wings of the state were given representation in the National Assembly. The National Assembly consisted of 300 members. 150 members were draw n from each wing. Parliamentary System ââ¬â a parliamentary system was adopted. harmonizing to it the president was the caput of province and the Prime Minister the caput of authorities. The President ââ¬â required being a Muslim of at least 40 old ages of age. The term of office of his office was five old ages. In instance of internal or external danger he could declare a province of exigency in the state. He was authorized to name the Governors. the Judges of the Supreme Court. Auditor General and the Advocate General. The Prime Minister ââ¬â He was to be the leader of the Parliamentary group and was therefore indirectly elected by the people. He could take his cabinet from the members of the National Assembly ; the cabinet was answerable to the Assembly. Provincial Autonomy ââ¬â Curtailed in the fundamental law to a great extent. Islamic Law ââ¬â no jurisprudence would be passed against the instructions of the Quran and Sunnah. Free Judiciary ââ¬â An independent bench in the state. A Supreme Court interpreted the fundamental law. advised the province whenever required. and decided the issues whenever required. Fundamental Rights ââ¬â included freedom of motion. freedom of address and look. freedom to take profess ion and freedom to profess faith. Right to life. autonomy. and belongings. Language ââ¬â Urdu A ; Bengali were made national linguistic communications. vitamin D ) Islamic commissariats: Islamic Republic of Pakistan ââ¬â The name of the state was adopted as the Islamic Republic of Pakistan. Objectives Resolution ââ¬â Included as preamble to the fundamental law. Islamic Law ââ¬â No Law would be passed against the instructions of the Quran and Sunnah. and bing Torahs would be made Islamic in character. Muslim President ââ¬â a demand. Religious Freedom ââ¬â Freedom to profess. pattern and propagate any faith and the right to set up. maintain and manage spiritual establishments. Life Harmonizing to the Holy Quran and Sunnah- Harmonizing to the directing rules. stairss were to be taken to enable the Muslims of Pakistan separately and jointly to order their lives in conformity with the Holy Quran and Sunnah. Teachings of the Holy Quran ââ¬â Were to be made compulsory for all Muslims. Slavery and forced labours were prohibited. Alcohol and narcotics ââ¬â sale was banned and were prohibited Prostitution ââ¬â was prohibited Particular revenue enhancement ââ¬â No individual should be compelled to pay any particular revenue enhancement whose returns were to be spent on the extension of any faith other than the personââ¬â¢s ain. Unity among Muslim states ââ¬â States were required to beef up the bonds of Muslims. Organization for Islamic Research and Instructions ââ¬â The president was required to put up an organisation for Islamic Research and Instruction in advanced surveies to help in the Reconstruction of Muslim society on a true Islamic footing. vitamin E ) Drawbacks: A far-reaching degeneration of power already a political world. was non given a constitutional acknowledgment and accepted as the footing of the stale. The federal list was well reduced and the provincial list greatly enlarged. reassigning to the states. among other things. control over mineral resources. enlisting of services. industries. internal communications and the tribal countries in the North West Frontier. This was contrary to the pattern of advanced states where the deferral rule has been used in constructing up a common nationhood through a strong Centre. The fundamental law in Pakistan alternatively of being an instrument for integrity a state already divided by geographics. sought to make two distinguishable political entities with maximal liberty in the direction of their personal businesss Regional truenesss were farther consolidated by the debut of para of representation the National Assembly. The fundamental law was concerned in the belief th at the political life of the state would ever be tied to provincial moorages and will neer lift a higher plane of patriotism in which party associations would cut across the physical barriers. Parity ââ¬Ëwas certain to further parochial experiencing every bit in the part in whose favour it was to run and in the part whose involvements were adversely affected by it. degree Fahrenheit ) Death:On 7 October 1958. He abrogated the fundamental law. imposed soldierly jurisprudence and appointed General Muhammad Ayub Khan as the Chief Martial Law Administrator and Aziz Ahmad as Secretary General and Deputy Chief Martial Law Administrator. However. three hebdomads subsequently General Ayub- who had been openly oppugning the authorization of the authorities prior to the infliction of Martial law- deposed Iskandar Mirza on 27 October 1958 and assumed the presidential term that practically formalized the mobilization of the political system in Pakistan. [ 6 ] Four old ages subsequently a new papers. Fundamental law of 1962 was adopted. This was finally succeeded by the Constitution of 1973. Fundamental law of Pakistan 1962: The Constitution of 1962 was the cardinal jurisprudence of Pakistan from June 1962 until soldierly jurisprudence was declared in March 1969. It was finally replaced by the current Fundamental law of 1973. a ) Origins:Pakistan became an independent province in 1947. The first papers that served as a fundamental law for Pakistan was the Government of India Act. 1935. The first Pakistani Constituent Assembly was elected in 1947 and after nine old ages adopted the first autochthonal fundamental law. the ephemeral Fundamental law of 1956. In October 1958. President Iskander Mirza staged a putsch dââ¬â¢etat and abrogated the fundamental law. Shortly afterwards General Ayub Khan deposed Iskandar and declared himself president. [ 1 ] On 17 February 1960 Ayub Khan appointed a committee to describe on the future political model for the state. The Commission was headed by the former Chief Justice of Pakistan. Muhammad Shahabuddin. and had ten other members. five each from East Pakistan and West Pakistan. composed of retired Judgess. attorneies. industrialists and landlords. The study of the Constitution Commission was presented to President Ayub on 6 May 1961 and exhaustively examined by the President and his Cabinet. In January 1962. theCabinet eventually approved the text of the new fundamental law. It was promulgated by President Ayub on 1 March 1962 and eventually came into consequence on 8 June 1962. The Constitution contained 250 articles divided into 12 parts and three agendas. B ) Commissariats: PAKISTAN was named as ââ¬ËIslamic Republic of Pakistanââ¬â¢ . The fundamental law provided for a federal system with the rule of para between East Pakistan and West Pakistan. Both the states would run their separate provincial authoritiess. The duties and authorization of the Centre and the states were clearly listed in the fundamental law. The Cardinal Legislature had one house known as the National Assembly. There were 156 members of the National Assembly. The equality between the two wings were maintained in it. The Constitution of 1962 provided for a presidential signifier of authorities. as opposed to the parliamentary signifier of authorities under the 1956 Constitution. The President. who must be a Muslim non less than 35 old ages of age and qualified for election as a member of the National Assembly was to be elected indirectly by an electoral college in conformity with the commissariats outlined in the Constitution itself. The Electoral College formed by non less than 80. 000 Basic Democrats ( B. D. ) . every bit distributed between the two states. Under the Constitution of 1962. if the figure of campaigners for election to the office of President exceeds three. the Speaker of the National Assembly was to convene a joint session of the members of the National and Provincial Assemblies to choose merely three campaigners for election. the staying campaigners so would non be eligible. This showing was non applicable to a individual who was keeping the office of the President i. e. if the sitting President was besides a campaigner the figure of campaigners would be four. The term of the President was five old ages to move as Head of State every bit good as Chief Executive- solely responsible for countryââ¬â¢s disposal. Governor and Minister were appointed and removed by him. He was eligible to proclaim Regulations and veto against legislated Torahs merely override able by two-thirds of the National Assembly. However. the President was non empowered to fade out the Assembly except at the cost of his office besides. On a charge of go againsting the Constitution or gross misconduct the President might be impeached by the National Assembly for which tierce of the entire members of the National Assembly must give written notice to the Speaker for the remotion of the President. The President was to be removed from office if the declaration for impeachment was passed by ballots of non less than three-quarterss of the entire members of the Assembly. A important characteristic of the impeachment process was that if the declaration for remotion of the Presi dent fails to obtain one-half of the entire figure of members of the National Assembly the movers of the declaration would discontinue to be members of the Assembly. The Constitution of 1962 provided for elections of the Central and Provincial Legislatures for a term of five old ages. The members of the Assemblies were elected by the Basic Democrats. The National Assembly was entirely empowered to pass for the cardinal topics. However. it could pass on affairs falling under provincial legal power. The power to enforce revenue enhancements was laid with the cardinal legislative assembly. The Assembly had to function as a tribunal in the instances of impeachment. strong belief or declaring the President as incapacitated. It could amend the Constitution. but with two-thirds bulk. However. if the Presidentââ¬â¢s veto was over-ridden. he had the right to inquire for the acquiescence of the Electoral College. The process of the Provincial Assemblies was indistinguishable with that of the National Assemblyâ⬠¦Ã¢â¬ ¦ ! degree Celsius ) Salient characteristics: Written Fundamental law: The Constitution of 1962 was a written papers. It consisted of five agendas and 250 articles. Rigid Fundamental law: This is a stiff fundamental law. This is a stiff fundamental law can merely be amended through a peculiar procedure. If an amendment to the fundamental law is passed by at least two-third bulk of the parliament so it becomes a portion of jurisprudence after hallmark by thePresident. Federal System: A federal system was introduced in the state. It consisted of a cardinal authorities and two provincial authorities consisting East and West Pakistan. Presidential forum of Government: President was the head Executive of the state. He was empowered to put up the curates of his cabinet. Indirect Method of Election: The President was elected by an Electoral College consisting 80. 000 Basic Democrats. every bit distributed between the two states. Provincial Governments: There were two provincial authoritiess. Each of them was headed by a governor. He enjoyed powers in the state which the President enjoyed in the centre. The Governor was empowered to name provincial curates with the countenance of the President of Pakistan. Provincial Legislature: Each state was provided with a legislative assembly. It originally consisted of 150 members. However. subsequently on this figure was increased to 218. Powers of President Harmonizing to the 1962 Constitution the President should be a Muslim with the term of 5 old ages. He was eligible to proclaim Regulations and veto against legislated Torahs merely override-able by two/thirds of the National Assembly. However. the President was non empowered to fade out the Assembly except the cost of his office besides. Restrictions to the President: The President was non allowed to keep any office of net income in the service of Pakistan but was non prevented from keeping a pull offing private belongings. Muslim Law: No Law would be passed against the instruction of Quran and Sunnah and the bing Torahs would be made Islamic in character. Cardinal Rights: The fundamental law of 1962 laid down cardinal rights of address and look. freedom to take profession and freedom to profess faith. With Regards to civil rights. familiar right such as the rights of life. livery and belongings were granted. Role of Judiciary: The Judiciary was responsible for the reading of Torahs and executive orders in the visible radiation of the rules embodied in a written fundamental law. Supreme Judicial Council: A supreme judicial council dwelling of two Judgess of Supreme Court main justness of Supreme Court and two Judgess of high tribunals was to be established. vitamin D ) Islamic Commissariats: The preamble of the Constitution of 1962 was based on the Objectives Resolution. The Constitution laid down merely that the province of Pakistan shall be an Islamic democracy under the name of Islamic Republic of Pakistanââ¬â¢ . Harmonizing to the rules of policy. stairss were to be taken to enable the Muslims of Pakistan separately and jointly. to order their lives in conformity with the cardinal rules and basic constructs of Islam. and should be provided with installations whereby they may be enabled to understand the significance of life harmonizing to those rules and constructs. No jurisprudence shall be enacted which is abhorrent to the instructions and demands of Islam as set out in the Qurââ¬â¢an and Sunnah and all bing Torahs shall be brought in conformance with the Qurââ¬â¢an and Sunnah. Merely a Muslim could be qualified for the election as President. Teaching of the Quran and Islamiyat to the Muslims of Pakistan was made compulsory. Proper administration of Zakat. waqf. and mosques was ensured. Practical stairss were to be taken to eliminate what were seen as societal immoralities by Islam. such as the usage of intoxicant. gaming. etc. A fresh Islamic proviso in the 1962 Constitution had introduced an ââ¬ËAdvisory Council of Islamic Ideologyââ¬â¢ to be appointed by the President. The maps of the Council was to do recommendations to the Government as to agencies which would enable and promote the Muslims of Pakistan to order their lives in conformity with the rules and constructs of Islam and to analyze all Torahs in force with a position to convey them into conformance with the instructions and demands of Islam as set out in the Qurââ¬â¢an and Sunnah. . There shall be an administration to be known as Islamic Research Institute. which shall be established by the President. The map of the Institute was to set about Islamic Research and Instruction in Islam for the intent of helping in the Reconstruction of Muslim society on a truly Muslim footing. The province should endeavor to beef up the bonds of integrity among Moslem states. vitamin E ) Death: The 2nd soldierly jurisprudence was imposed on 25 March 1969. when President Ayub Khan abrogated the Constitution of 1962 and handed over power to the Army Commander-in-Chief. General Agha Mohammad Yahya Khan. On presuming the presidential term. General Yahya Khan acceded to popular demands by get rid ofing the one-unit system in West Pakistan and ordered general elections on the rule of one adult male one ballot. Fundamental law of Pakistan 1973: The Constitution of the Islamic Republic of Pakistan is the supreme jurisprudence of Pakistan. Known as the Constitution of 1973. it was drafted by the authorities of Zulia Ali Bhutto and. following add-ons by the resistance parties. was approved by the legislative assembly on April 10. 1973. It was Pakistanââ¬â¢s foremost of all time fundamental law by consensus unlike two earlier fundamental laws. the Fundamental law of 1956 and the Constitution of 1962. a ) Origins: Pakistan became independent from British India in 1947. following its divider. The first papers that served as a fundamental law for Pakistan was the Government of India Act. 1935. The first Pakistani Constituent Assembly was elected in 1947 and after nine old ages adopted the first autochthonal fundamental law. the ephemeral Fundamental law of 1956. In October 1958. President Iskander Mirza staged a putsch dââ¬â¢etat and abrogated the fundamental law. Shortly afterwards General Ayub Khan deposed Iskandar and declared himself president. In 1960 Ayub Khan appointed a committee to outline a new fundamental law. The new Constitution of 1962 was decreed by President Ayub in March of that twelvemonth. On 25 March 1969 the Second Martial Law was imposed ; President Ayub Khan abrogated the 1962 fundamental law and handed over power to the Army Commander-in-Chief. General Agha Mohammad Yahya Khan. On presuming the presidential term. General Yahya Khan acceded to popular demands by get rid ofing the one-unit system in West Pakistan and ordered general elections on the rule of one adult male. one ballot. General Yahyaââ¬â¢s government made no effort to border a fundamental law. The outlooks were that a new component assembly would be set up by keeping a free and just election. In order to keep the proposed elections. President Yahya Khan promulgated a Legal Framework Order on 30 March 1970 that besides spelled out the cardinal rules of the proposed fundamental law and the construction and composing of the national and provincial assemblies. [ In December. 1970 elections were held at the same time for both the national and five provincial assemblies. By any standards. elections were free and just. Although Mujib had been released from prison by yahya khan due to the fact that he vanished all the charges on all political leaders. There was no intervention from the authorities ; it maintained rigorous neutrality demoing no favour or favoritism for or against any political parties. The members of the governing council of curates were debarred from engagement in the elections. There were no allegations of tackle of the elections as is frequently alleged in elections held in the states of the Third World. But the consequences of the first and the last general elections in united Pakistan were merely black from the point of view of national integrity and demonstrated the failure of national integrating. There was non a individual national party in the state which enjoyed the assurance of the people of Pakistan. both east and West Pakistan. Two regional parties- the Awami League ( AL ) under the leading East Pakistan- won 290 out of 288 seats allotted for East Pakistan. But in West Pakistan it could non procure a individual place and the per centum of ballots secured by the Awami League in the four states of West Pakistan were: 0. 07 ( Punjab ) . 0. 07 ( Sindh ) 0. 2 ( Pakhtunkhwa and 1. 0 ( Baluchistan ) . The Pakistan Peoples Party ( PPP ) under the leading of Zulfikar Ali Bhutto won 88 out of 144 seats for West Pakistan. But the PPP did non even make bold to put up a campaigner in East Pakistan. The staying 57 seats of West Pakistan were shared by seven parties and there were 15 independent campaigners. The PPP emerged as the individual largest party in West Pakistan with bulks in Sindh and the Punjab ; and the National Awami Party ( NAP ) together with their political ally. Jamiat-ul Ulema-i-Islam ( of Maulana Mufti Mahmood ) JUI. got clear bulks in Baluchistan and Khyber-Pakhtunkhwa. None of the West Pakistani political parties. like the PPP. could win a individual place in East Pakistan. The spiritual inquiry played small or no portion in the elections. There can be no uncertainty that in East Pakistan the rules which won the consensus of sentiment was the individual basic impression of liberty The Awami League had fought the elections on the footing of their six points expression. which committed them to reconstitute the bing federal system in order to guarantee maximal political liberty for East Pakistan. Under this expression. merely two portfolios- Ministry of Foreign Affairs and Defense- would be retained by the cardinal authorities. The PPP. on the other manus. was non willing to thin the authorization of the cardinal authorities in malice of guaranting full provincial liberty for all the states of Pakistan. The National Awami Party and JUI alliance sided with the AL so that they might obtain maximal liberty for their ain states. i. e. . Baluchistan and Khyber-Pakhtunkhwa. The election consequences genuinely reflected the ugly political world: the division of the Pakistani electorate along regional lines and political polarisation of the state between the two wings. Pakistan and West Pakistan. Inpolitical footings. therefore. Pakistan as a state stood divided as a consequence of the really first general elections in 23 old ages of its being. Therefore the general elections of 1970 produced a new political constellation with three distinguishable Centres of power the AL in East Pakistan: ( two ) the PPP in Sindh and the Punjab. B ) Commissariats: This fundamental law represented a via media consensus on three issues: the function of Islam. the sharing of power between the federal authorities and the states. and the division of duties between the President and the Prime Minister. with a greatly strengthened place for the latter. The Constitution provided for a federal system. The Federal Legislature is to map like the British Parliament. In order to still the concerns of the states refering the just distribution of legislative power. the fundamental law established a bicameral legislative assembly with a Senate ( the upper house ) . supplying equal provincial representation. and a National Assembly ( the lower house ) . apportioning seats harmonizing to population. Islam was declared the province faith. The Constitution stated Pakistanââ¬â¢s functionary name as the Islamic Republic of Pakistan. Merely a Muslim could go the President or the Prime Minister of Pakistan. No jurisprudence repugnant to Islam shall be enacted and the present Torahs shall besides be Islamized. The President must be a Muslim non less than 45 old ages of age. elected by members of Parliament. He is to keep office for a term of five old ages. The President could be removed by the declaration of parliament of non less than two tierces of the entire rank. The President could publish regulations when the Parliament is non in session. The President has the power of allowing forgiveness and the right to be kept informed by the Prime Minister on all affairs of internal and foreign policies. The Constitution sets forth the parliamentary system of Government. The caputof the Government. harmonizing to the Constitution. will be the Prime Minister. The Prime Minister and his Cabinet is accountable to the National Assembly for his actions. The Prime Minister would be elected by the bulk of the National Assembly. The Constitution of 1973 introduced a new establishment known as the ââ¬ËCouncil of Common Interestsââ¬â¢ dwelling of Chief Ministers of the states and an equal figure of Ministers of the Federal Government nominated by the Prime Minister. The Council could explicate and modulate the policy in the Part II of the Legislative List. In instance of ailment of intervention in H2O supply by any state the Council would look into the ailment. Another major invention in the Fundamental law of 1973 is the constitution of a National Finance Commission ( NFC ) consisting of the Federal and Provincial Finance Ministers and other members to advice on distribution of grosss between the federation and the states. The Principles of Policy includes Islamic manner of life. publicity of Local Government establishments. full engagement of adult females in national life. protection of minorities. publicity of societal and economic well being of the people. and beef uping the bonds with the Muslim universe and to work for international peace. Under the 1973 Constitution. Fundamental Rights include security of individual. precautions as to collar and detainment. prohibition of bondage and forced labour. freedom of motion. freedom of association. freedom of address. freedom to profess faith and precautions to spiritual establishments. non-discrimination in regard of entree to public topographic points and in service. saving of linguistic communications. book and civilization. The judiciary enjoys full domination over the other variety meats of the province. degree Celsius ) Salient Features: Written Fundamental law:Like the old fundamental laws of 1956 and 1962 the Fundamental law of 1973is a written papers. It is really comprehensive and consists of 12 parts dwelling of 280 articles. Introductory and the Objectives Resolution: It commences with an introductory which slates the Islam shall be province faith. The rules and commissariats set out in the Objectives Resolution have been made substantial portion of the fundamental law. Muslim System: The inclusion of Islamic Provisions has given the 1973 Constitution an unprecedented Islamic character. It ensures an Islamic system in the state. Rigid Fundamental law:It is a stiff fundamental law. No Government can alter it at will. It is non easy to do amendments in it. Two-third bulk of both the Houses is required for this intent. Federal System:The Constitution of 1973 has introduced a Federal system in the state. The federation of Pakistan consists of a Cardinal Government and four Provincial Governments. The Federal Government is headed by a President elected by members of Majlis-e-Shoora ( Parliament ) Parliamentary signifier of Government: The 1973 Constitution proposes a Parliamentary signifier of Government in the state. Prime curate is the caput of the Parliamentary system. He is leader of the Majlis-e-Shoora ( Parliamentary ) . He is elected on direct grownup franchise footing. The Prime Minister selects a cabinet of cardinal curates from the members of Parliament which conducts the personal businesss of the state. Harmonizing to 1973 Constitution the Prime Minister enjoys broad powers. Bicameral Legislature: The Constitution provides for the constitution of a bicameral legislative assembly in Pakistan. The Majlis-e-Shoora ( Parliament ) consists of two Houses named Senate and National Assembly. The Senate or the Upper House consists of 63 members ( the 8th Amendment has raised this figure to 87 ) . The National Assembly consists of 200 members ( Now this figure has been raised to 207 ) . The Majlis-e-Shoora enjoys broad powers of legislative assembly. Direct Method of Election: The Constitution of 1973 gives a direct method of election. The members ofthe National Assembly. the Provincial Assemblies are straight elected by the people. Independence of Judiciary:The Constitution of 1973 emphasiss upon the constitution of an independent bench. Full occupation security has been provided. The Judgess are appointed by the President. They can non be removed from service before the terminal of their term except on the recommendation of the Supreme Judicial Council. In add-on the Judges National Language: The 1973 Fundamental law are paid respectable wages.has declared Urdu as the national linguistic communication of Pakistan. However English has been retained as the official linguistic communication for 15 old ages. Similarly regional linguistic communications have been provided full protection. Single Citizenship: The Constitution of 1973 has established the rules of individual citizenship. Harmonizing to this rule the rights and responsibilities of the citizens are determined by the Federal Constitution merely. Thus the people throughout Pakistan are citizens of Pakistan. Rule of Law: The 1973 Constitution establishes regulation of jurisprudence in Pakistan. Harmonizing to regulation of jurisprudence no individual can be deprived of his cardinal rights. All the citizens of Pakistan are equal before jurisprudence. High Treason: Harmonizing to the Constitution of 1973 the act of unconstitutional repeal of the Constitution has been declared as an act of High Treason. Referendum:The Constitution of 1973 has authorized the President to keep Referendum on any national issue. Similarly the Prime Minister can inquire the President to keep referendum on any of import national issue. vitamin D ) Islamic commissariats: The name ââ¬ËIslamic Republic of Pakistanââ¬â¢ is selected for the province of Pakistan. Islam is declared as the province faith of Pakistan. Steps shall be taken to enable the Muslims of Pakistan. separately or jointly. to order their lives in conformity with the cardinal rules and basic constructs of Islam. Steps shall be taken to do theinstruction of the Qurââ¬â¢an and Islamiyat compulsory. to promote and ease the acquisition of Arabic linguistic communication and to procure correct and exact printing and publication of the Qurââ¬â¢an. Proper administration of Zakat. waqf and mosques is ensured. The province shall forestall harlotry. gaming and ingestion of intoxicant. printing. publication. circulation and show of obscene literature and advertizements. Merely a Muslim could be qualified for election as President ( male or female ) and Prime Minister ( male or female ) . No limitation as to faith or gender on any other station. up to and including provincial gove rnor and Chief Minister. All bing Torahs shall be brought in conformance with the injunctions of Islam as laid down in the Qurââ¬â¢an and Sunnah and no jurisprudence shall be enacted which is abhorrent to such injunctions. A Council of Islamic Ideology shall be constituted referred to as the Islamic Council. The maps of the Islamic Council shall be to do recommendations to Parliament and the Provincial Assemblies about the ways and agencies of enabling and promoting the Muslims of the Pakistan to order their lives in conformity with the rules of Islam. The President or the Governor of a state may. or if two fifths of its entire rank so requires. a House or a Provincial Assembly shall. mention to the Islamic Council for advice on any inquiry as to whether a proposed jurisprudence is or is non abhorrent to the injunctions of Islam. For the first clip. the Fundamental law of Pakistan gave definition of a Muslim which states: ââ¬ËMuslimââ¬â¢ means a individual who believes in the integrity and unity of Allah. in the absolute and unqualified conclusiveness of theProphethood of the Islamic prophesier. Muhammad. and does non believe in. or recognize as a prophesier or spiritual reformist. any individual who claimed or claims to be a prophesier. in any sense of the word or of any description whatsoever. after Muhammad. The province shall endeavour to beef up the bonds of integrity among Moslem states. The Second Amendment ( wef 17 September 1974 ) of the 1973 Constitution declared for the first clip the Ahmadiyya Community or the Lahore Ahmadiyya Movement for the Propagation of Islam ( Lahoris ) as non-Muslims. and their leader. Mirza Ghulam Ahmad. who claimed to be prophesier of God. to which mainstream Muslims do non hold. vitamin E ) Comparison with old fundamental laws: With respect to provincial rights the 1973 fundamental law was in fact the most centralized of Pakistanââ¬â¢s assorted fundamental laws. The Government of India Act of 1935. which Pakistan adopted as its first on the job fundamental law. granted the federal authorities 96 points of power. The 1956 fundamental law reduced that figure to 49. and this was retained in the 1962 fundamental law. In 1973. nevertheless. it was so enlarged to 114. Decisions: The predating study of Pakistanââ¬â¢s Constitution and the consecutive alterations brought approximately in it may assist gain a few major points. The most noticeable fact is that the Constitution has faced the challenge of endurance. which hasbeen threatened many a clip in the yesteryear. Once the Constitution was abrogated and later it was held inabeyance. Whenever the Constitution was restored it wasdone so along with alterations and amendments. which characteristically altered its earlier position. Therefore. whatwe identify today as the Constitution. is drastically differentfrom its form when it was adopted in 1973. Change in the Constitution is non something which in itself can beopposed. A living fundamental law ever responds to thechanging conditions and the new demands of thesociety. Strategic Analysis: Where in the State shall exert its powers and authorization through the chosen representatives of the people ; Wherein the rules of democracy. freedom. equality. tolerance and societal justness. as enunciated by Islam. shall be to the full observed ; Wherein the Muslims shall be enabled to order their lives in the person and corporate domains in conformity with the instructions and demands of Islam as set out in the Holy Quran and Sunnah ; Wherein adequate proviso shall be made for the minorities freely to profess and pattern their faiths and develop their civilizations ; Wherein the districts now included in or in accession with Pakistan and such other districts as may hereafter be included in or submit to Pakistan shall organize a Federation wherein the units will be independent with such boundaries and restrictions on their powers and authorization as may be prescribed ; Wherein shall be guaranteed cardinal rights. including equality of position. of chance and before [ the ] jurisprudence. societal. economic and political justness. and freedom of idea. look. belief. religion. worship and association. topic to jurisprudence and public morality ; Wherein adequate proviso shall be made to safeguard the legitimate involvements of minorities and backward and down categories ; Wherein the independency of the judiciary shall be to the full secured ; Wherein the unity of the districts of the Federation. its independency and all its rights. including its crowned head rights on land. sea and air. shall be safeguarded ; So that the people of Pakistan may thrive and achieve their rightful and honoured topographic point amongst the states of the World and do their full part towards international peace and advancement and felicity of humanity ; Conscious of our duty before Almighty Allah and work forces ; Cognizant of the forfeits made by the people in the cause o f Pakistan and Faithful to the declaration made by the Founder of Pakistan. Quaid-i-Azam Muhammad Ali Jinnah. that Pakistan would be a democratic State based on Islamic rules of societal justness ; Mentions: 1. hypertext transfer protocol: //en. wikipedia. org/wiki/Constitution_of_Pakistan 2. hypertext transfer protocol: //www. Pakistani. org/pakistan/constitution/ 3. hypertext transfer protocol: //pakistanconstitutionlaw. com/ 4. hypertext transfer protocol: //www. cssforum. com. pk/study-forums/constitutions 5. hypertext transfer protocol: //storyofpakistan. com/the-constitution-of-1956/ 6. hypertext transfer protocol: //www. pppusa. org/1973constitution. htm 7. hypertext transfer protocol: //www. guesspapers. net/2380/salient-features-constitutions
Monday, November 4, 2019
Capacity Management Assignment Example | Topics and Well Written Essays - 500 words
Capacity Management - Assignment Example The capacity measure is the number of seats that are present in the restaurant. This implies the number of people it can accommodate at sitting. Number of customers served and the pizza eaten can also count. College admissions department. The capacity measure here is the number of students that are admitted. More students admitted calls for more departments.The number of lanes and the time that is taken by a student to be admitted is vital in measurement. The business that I have chosen is the American Apparel, a firm that sells all types of casual wears. It uses the following reason to adjust its short-term capacity levels as explained below. (Mark, 2012) The American Apparel buys more casual clothes of which the excess is stored. Since it uses FIFO method, those clothes that are much newer are stored. When the old stock reduces and the demand for the new arises they are released to the market for sale. The company believes in the quality delivery and therefore it employs workers who have good credentials and good marketing skills. It also applies the cross training to update its employees on the upcoming trends and the needs of its
Saturday, November 2, 2019
The Value of a Vanilla Bond Coursework Example | Topics and Well Written Essays - 1000 words
The Value of a Vanilla Bond - Coursework Example Between the two companies it has been observed that Microsoft Corp. has the highest credit rating in the country. Due to the volatility of Aonââ¬â¢s operations and lower credit ratings, interest rates are higher, which makes the investment in Microsoft Corp. safer than that in Aon Corp, from an investorââ¬â¢s point of view. The Value of a Vanilla Bond A vanilla bond is a bond that has no underlying features, a fixed rate is implied and the bond is redeemable in full on maturity. In this paper, the vanilla bonds of two companies will be focused on to determine why the price of one companyââ¬â¢s bonds differs from the price of the bond of the other company. The companies that are being focused for this paper are Microsoft Corp. and Aon Corp. According to the financial results reported by Microsoft Corp and Aon Corp. the companies had a total of $11.9 billion and $2.9 billion outstanding in debt. This debt component comprised of different loan notes, each with a varying range o f maturity dates, out of them only the loan notes that fulfill the criteria of vanilla bonds will be considered for this paper. To calculate the present value of these bonds, each lone note will have to be dealt with separately. The list of the amount of these loans, their coupon rates, price and their maturity dates is mentioned below, and on its basis the present value of each note will be calculated. ... October 2020 1,000 3.000% 105.7 941.85 2.27 February 2021 500 4.000% --- 459.79 --- June 2039 750 5.200% 122.0 612.653 3.88 October 2040 1,000 4.500% 113.6 835.607 3.73 February 2041 1,000 5.300% --- 805.150 --- TOTAL 10,750 10,043.51 AON CORP: Maturity Date Face Value ($ Millions) Standard Coupon Rate Price Present value ($ Million) yield to maturity September 2015 600 3.50% 105.0 589.609 2.07 September 2020 600 5.00% 112.1 570.808 3.37 September 2040 300 6.25% 124.8 248.854 4.67 TOTAL 1,500 1,409.271 As it can be seen, the bonds held by Aon Corp are generating higher yield to maturity than the bonds held by Microsoft Corp. Even though the time till maturity of the two companies is same for some bonds, still Aon Corp is charged with a higher rate of interest than Microsoft Corp. For the bonds that will mature till the years 2015, 2020 and 2040, the respective yields to maturity for Microsoft and Aon Corp. are 0.64, 2.27 & 3.73 and 2.07, 3.37 & 4.67 respectively. Thus it is obvious t hat the bonds issued to Aon Corp are receiving a better price than that of Microsoft Corp. According to Standard and Poorââ¬â¢s Rating Services and Moodyââ¬â¢s Investor Service Inc. the Microsoft Corporate credit rating is AAA and Aaa respectively, whereas that of Aon Corp is BBB+ with a stable outlook and Baa2 with a negative outlook respectively. The increase in Microsoftââ¬â¢s credit ratings ensures lower borrowing costs and easy access to financial options for the company. Microsoft was assigned top rating right after the company made public a $ 2 billion commercial paper program and according to S&P only five U.S non-financial companies hold AAA rating according to their standards (Linnane, 2008). The commercial paper of Microsoft Corp is rated A-1+ by Standard & Poor and P-1 by moodyââ¬â¢s.
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