Marijuana for Medical Purposes

Dear Mr. Ted Peetz I have perused the exposition you composed, â€Å"Marijuana for Medical Purposes: Is It a Dopey Idea,† and I have discovered a few missteps that I need to enable you to fix! I am not composing this to slam your paper, yet to help give you more grounded models. I need to help clear up and finish your considerations before you further your article. Moreover, at the base of the main page in your article you utilize the wellspring of Jo Daily, the previous police in San Francisco, who smokes unlawfully to help ease her agony after chemotherapy.Jo Daily is definitely not a decent hotspot for this theme. Anybody, and particularly a cop, ought to be observing the law. Residents admire individuals like Jo Daily, however she is setting a poor model as a law requirement official. On the subsequent page and in the fourth section, you prescribe offering weed to kids underweight with AIDS to help increment their hunger and alleviate the pressure of agony. You ought to ne ver make reference to children and smoking since it would have a negative impact on the group, particularly guardians, regardless of how solid the contention is.You pointed towards feeling yet it was not the best subject. Toward the start of your article you began with a statement. You ought to never have a statement remain solitary in a paper. Rather, install the statement into a sentence. By implanting the statement, you get your paper moving right away. In the event that you do what you are attempting to do, you are beginning your paper effectively clumsily. It's viewed as a divided and it’s less formal. It could likewise have a negative impact and dismiss the peruser from the earliest starting point. â€Å"Hey man, need some pot? is simply going to make your paper sound like it is tied in with smoking pot and it truly doesn't have a decent connection with the remainder of the paper. In the main passage of the subsequent page, you look at two unique subjects, maryjane and penicillin, and attempt to associate it by utilizing sentiment. There are actually no assets saying that weed can fix yet penicillin is utilized with numerous specialists to fix patients. Additionally, on the second page you share how Chris Woiderski would get alleviation from muscle fits and agonies related with being a paraplegic.A paraplegic is somebody who can't feel torment starting from the waist. In conclusion, you completely clarified how legitimizing pot can assist the patients with chemotherapy, kids with AIDS, and torment and stress alleviation and I still can't seem to see a solid hotspots for any of these contentions or any following up sentences to guard them. Your sources show inspirational attitudes toward maryjane, yet the online articles are just a page to a page long. There additionally needs to an unexpected source in comparison to â€Å"Online High Times Magazine,† on the grounds that their data is one-sided.

The Dj Essay Essay Example

The Dj Essay Paper The Dj Essay, Research Paper The DJ About fifteen years back a culture was conceived. In Europe another kind of music was being made. Something new, something new. A music energized by pounding beats over shaking bass. This is electronic music. The brains behind this entire best in class culture was and is the DJ. In the previous five years have become increasingly more well known ordinary. A few people who don't know about this music or this culture may contend that being a DJ is certainly not a genuine calling for different reasons. All through this paper I will refute these ideas. As help I will give the historical backdrop of the DJ, what precisely it is, knowledge from different DJ’s and significantly more. Everything started around fifteen years prior. In towns in Europe individuals began tossing mystery parties, little gatherings all the more a get-together to party and have some good times. At these gatherings there would DJ’s turning early electronic sounds and moving. Not very long after that word began to spread and an ever increasing number of individuals needed to â€Å"party†. So the individuals tossing these gatherings searched out greater spots to host these gatherings that could suit more individuals. We will compose a custom exposition test on The Dj Essay explicitly for you for just $16.38 $13.9/page Request now We will compose a custom exposition test on The Dj Essay explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom paper test on The Dj Essay explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer It developed so quick that mystery data telephone lines were made to forestall issues with the specialists. Throughout the following scarcely any years an ever increasing number of individuals developed to adore these gatherings for the music and the general climate. Likewise an ever increasing number of electronic craftsmen began to surface. As well known as these occasions were the fact of the matter is without its DJ none would have been conceivable. In the mid nineties this developing underground development began to shape gradually in the United States and different nations. These gatherings before long assumed the name of â€Å"raves†. In Europe these raves developed continually. Before long there were raves being tossed with five to ten thousand individuals in participation. Before long we began to see not just the development of a music and culture yet in addition another industry. There began to be an ever increasing number of electronic specialists surfacing regular. The innovation expanded extremely quick consistently progressively new gear permitted new imaginative limits to be broken. Before long the DJ gradually began to turn out to be a greater amount of the point of convergence of these â€Å"raves†. DJ’s began to be the attractions of these raves rather than only a spot to have a fabulous time. The DJ’s began to make names for themselves alongside this came various styles of DJing. One of the primary styles of electronic music made was house music. This music immediately moved into dance club and raves. Before long a wide range of styles of electronic music were conceived. For example, break beat, drum and bass, hard house, stupor, dynamic daze, enormous beat, and upbeat hardcore(www. clubdance. com). DJ’s began to represent considerable authority in particular kinds of electronic music. Some began to see themselves as DJ’s as well as specialists. The music turned out to be increasingly about articulation and solidarity. In an ongoing narrative drum and bass craftsman Roni Size says(Better Living Through Circuitry) â€Å" When I step behind the tables at a gathering it’s something other than playing tracks for a gathering of individuals. It’s like my objective to take these individuals to a spot they have not been previously. To make a blend that is so one of a kind and extreme that takes the crowd and places them all into another spot together. It’s a work of art! † As you can see by this announcement these DJ’s pay attention to their employments. Before long DJ’s began to put out many blend cd’s as well as they began creating their own tracks. I imagine this was an extraordinary forward leap in this kind of music. In the course of recent years probably the best electronic collections put out have been by DJ’s. DJ’s before long began to go on their own visits, playing settings that musical crews play at. They were playing at these settings as well as selling them out simultaneously. Ideal proof of this originates from a book The Ambient Century, â€Å" Dance music detonated into a wonder that appeared to have no closure. As the music transformed, new structures were hurled continuously. Encompassing House and Ambient Techno were mind balming reactions to the power of the club culture. Excursion bounce and Drum and Bass were UK dark varieties of what was initially a development by dark Americans. Exciting music ingested House and Techno, and DJ’s and electronicists started to visit and act like demigods. As one century tipped into another, move music was as yet an essential wellspring of intrigue and innovativeness as Trance, a cutting edge mix of innovation and House and Techno, turned into a diagram besting, globe supporting sensation†( Prendergast pg 367). Another extraordinary progressively explicit case of this is Paul Oakenfold as written in Last night a DJ spared my life, â€Å" When Paul Oakenfold plays records in a club, each individual on the move floor will confront him. Much the same as they’d face a musical crew on a phase. There’s very little to see: a baseball top possibly, a productive face inclining toward a couple of earphones, some insignificant arm developments as he slides in another immaculate blend. Sometimes he may surrender in energy, grin out because of an especially fabulous track, or offer a wink with some enthusiastic fan, and when he does, there’ll be an ocean of hands overhead, a breakout of waving and smiling, an expanse of grinning artists reflecting all his motions. For he is a superstar†( Brewster pg 384). Alongside these visits came yearly celebrations. Immense celebrations consistently with in some cases over a hundred thousand individuals in participation. A portion of these are Love Parade and Gatecrasher( www. loveparade. com)( www. intruder. com). Much the same as any music industry this one before long began having shows. The greatest one is the Winter Music Conference( www. wmcon. com). This typically remembers anyone and everyone for electronic music. A multi day long celebration including a feature of the new apparatus and hardware and the best ability in the music performing. In Europe now DJ’s are increasing than heroes. They stroll down the road and individuals run. DJ’s like this are Fatboy Slim, Paul Oakenfold, Carl Cox and John Digweed( www. yippee. com). So since you have a concise foundation on the historical backdrop of DJ’s you may think about what various kinds of occupations are accessible out there for DJ’s. Well above all else there is the sort of DJing I have been mostly concentrating on that is the rave DJ. There are likewise numerous open doors for work nowadays in night clubs everywhere throughout the world. The club business presently is turning into an enormous industry. Some are stating considerably more with the goal that the times of Studio Fifty-Four. Likewise there are a great deal of employments as versatile DJ’s. These DJ’s for the most part work for an organization. These organizations do gatherings, weddings, and a wide range of exceptional occasions. On a voyage I went on the previous summer I met a versatile DJ that works out of Houston. He stated, â€Å"Even however I have a degree in Communications I cannot beat the measure of accessible work and the cash of being a DJ. I can pull in 60,000 to 70,000 per year on the off chance that I buckle down. † This by itself shows how in need the world is of DJ’s. So since you have a smart thought of the historical backdrop of DJ’s and what employments are accessible you may be thinking about the stuff to be a decent DJ. Well this inquiry all relies upon whom you pose. So I have teamed up various thought of what a decent DJ is. Most importantly a decent DJ needs to know the music he is turning. In addition to the fact that he has to realize it like the rear of his hand yet in addition they must have an adoration for the music. Without the affection and energy for this activity then it changes from a fine art to simply playing music. A decent DJ must have information on the group and how to function them into furor. A wide range of little abilities are completely joined together to make an extraordinary DJ. DJ Tony Humphries who has worked expertly since 1977 and has been a significant effect on his companions in New York City, talks from an underground point of view on a decent DJ: â€Å" DJ’s need to comprehend the idea of programming. Step by step instructions to break a record. Step by step instructions to play with records, rehash introductions, extend breaks, endings†¦Ã¢â‚¬ ¦There is a craftsmanship to programming your set†¦Ã¢â‚¬ ¦. The DJ who plays all his most smoking records straight isn't carrying out his responsibility right. You can’t play all your best material at the same time since you need to spare some of it for later at night. The DJ doesn't into that force record a similar way the group does. You should be isolated from the group. You’re expected to be into presenting them to new material. In this way, what you do is play a track, trailed by something new and afterward you back it up with something they know and like. It’s like a train ride. The group becomes reliable that you will return with something they like. It’s the fifteen-minute game. About each third tune, you give them a notable melody. Following 60 minutes, the group has been presented to ten new records. That way, you please yourself and the group. Larry Levan was extraordinary at this. The most significant thing to recollect is that melodic substance, how you program, is a higher priority than genuine blending aptitudes sometimes†( Fikentscher p38). As should be obvious there are a wide range of things that a DJ needs to know. Another perspective on a decent DJ was taken from a book considered Last night a DJ spared my life, â€Å" At its most essential DJing is the demonstration of introducing a progression of records for an audience’s delight. So at the least difficult level a DJ is a moderator. This is the thing that radio DJ’s do, they intr

Case Study of Dick Smith Holdings Samples †MyAssignmenthelp.com

Question: Examine about the Case Study of Dick Smith Holdings. Answer: Presentation DS Holdings is an open organization situated in Australia; the organization is holding organization of Dick Smith Group that has 11 auxiliaries (Dick Smith-Annual Report, 2014). The business association works in buyer electronic retail locations and furthermore online customer gadgets retails all through Australia and New Zealand. The business association has a range up to 390 areas with an enormous workforce (Chung, 2016). The organization was claimed by Woolworths from 1982 and later was gained by Anchorage. The acclaimed brand name Dick Smith was liquidized in the year 2016 making a huge misfortune its speculators and investors. Anyway the organization stamped benefit in the year 2014-15 and has additionally given immense measure of profit to its financial specialists. The arrangement for development anyway caused obstacle and the organization continued creation misfortunes (Chung, 2016). The report attempts to break down the association on a more extensive view. The organization was later bought by Kogan.com and it is likewise estimated that to get recorded in Australian Stock Exchange the organization has advertised the sum. The report expects to give a more extensive and wide view according to the organization and variables that has assumed a significant job in its prosperity. The different issues, for example, the moral issue looked by the business association are likewise talked about in the report. Brief Review of Dick Smith In the year 1968, Dick Smith set up an organization which came to be known as Dick Smith Company in Sydney, Australia. With a little introductory capital, it began its business concentrating on introducing vehicle radios. The organization slowly extended its business by going into various items and set up roughly 20 stores all through Australia. The significant portions of Dick Smith were offered to Woolworths during 1980. The rest of the shareholding was additionally claimed by Woolworths. In the wake of getting significant portions of the organization Woolworths chose to rebuild the brand Dick Smith, however later it shut down nearly 100 stores of the brand in Australia (Dick Smith-Annual Report, 2014). This activity of Woolworths additionally brought another shock for Dick Smith. Woolworths offered Dick Smith to Anchorage Capital Partner for $115 million (Anchorage Capital Partners, 2017). In November 2012, the organization selected Nick Abboud as its CEO. After the arrangement, D ick Smith got recorded in the Australian Stock trade in the year 2012, which expanded its total assets. no one have ever understood that an organization who continued setting benefits imprint could crumple out of nowhere, anyway this occurred, the organization went into misfortunes and fallen in the year 2016. The significant explanation for its circumstance was the contested organization. The directorate of the organization and the speculators didnt reach at a state of understanding so they picked various characters each speaking to their gatherings. The directorate of the organization names McGrath Nicol, while the financial specialists delegated Ferrier Hodgson as beneficiary. Today the brand Dick Smith is possessed by Kogan.com, which sold its item on the web. Kogan.com procured the organization in 2016 (West, 2016). Evaluating the Valuation of Dick Smith The brand Dick Smith was procured by Woolworths in the year 2016, it was being bought by Anchorage Capital Partners at an underlying capital of $20 million. In the year 2013, the portions of Dick Smith were coasted in the Australian Stock Exchange. The Annual reports of the organization unveiled that in the past one year the EBITDA of the brand Dick Smith got expanded which not a decent sign for a sound organization. It has been surveyed that the ascent in EBITDA was because of lack of regard and inconsistencies in the administration of stock (Dick Smith-Annual Report, 2014). The yearly reports didnt show the incentive for the advantages which have been discount. Anyway the devaluation in the stock was announced which was $58 million (Chung, 2016). Noncurrent arrangements were discounted with $58 million and all the required was done cautiously and decided as reasonable. In a brief length of 7 months the poor administration of the stock lead to the further decay of the equivalent, th e stock got declined by $171 million in the year 2013. In the year 2014, the all out deterioration was just $10 million since plants, types of gear and different resources were recorded in the year 2013. What's more, it has likewise been seen that advances and different borrowings of the Dick Smith got expanded in the year 2015, which was not detailed to be determined sheet of the year 2014. The credits got expanded by $70.5 million. This was very abnormal as the examination of the reports of the year 2015 demonstrated everything ordinary and reasonable. Simultaneously, when the instance of the organization was evaluated intently, it was seen that the obligation proportion of the organization was 67% which didnt demonstrate a sound business practice (Walker, 2016). The level of obligation proportion for example 67% was very high and named hazardous for business activities. In the year 2015, Dick Smith couldn't orchestrate its transient obligations on account of the poor working capital. Aside from this, the stock turnover proportion was likewise analyzed which didnt indicated any criticalness increment in its benefits from the year 2014. The entire business tasks and different elements of the organization was botched, the staff of the organization was additionally not working proficiently because of no long leaves were given to the worker in the year 2015, this has laid an extraordinary effect on the effectiveness and efficiency of the representatives (White, 2016). The top level administration of the organization has additionally reported the breakdown in the costs of the results of the organization. Aside from this they additionally reported that the organization has flopped in its activities in the year 2015. Every one of these declarations lead to unexpected decrease in the costs of the portions of the organization in the Australian Stock Exchange. In this manner entire of these procedures has seriously affected the profitability and effectiveness of the organization. With regards to starting open contributions, DSE source has been included the asset reports of the organization so control should be possible. Aside from this, the benefits and misfortunes of the organization were likewise not evaluated appropriately. This shows the individuals with higher positions in the top administration didnt focused on increment the presentation of the organization in the market. Its been accounted for that the records andfinances of the organization was not reviewed from 2010-2014 that made a climate of question in the financial specialists and inspectors (Ong and Janda, 2016). They built up a sort of doubt with respect to the credibility of the records. Every one of these exercises goes up against that the organization Dick Smith was not working appropriately, it was not adhering to the bookkeeping measures and has not recorded its fiscal summaries from 2010-2014. Harbor Capital Partners and its Ethical Dilemma The organization Anchorage Capital Partners is arranged in Australia and is a private value firm, it significantly centers around turnovers and income age (Anchorage Capital Partner, 2016). It has assume control over Dick Smith in the year 2012 from Woolworths and paid $115 million altogether. Dick Smith got recorded in Australian Stock Exchange in the year 2012. Anyway the organization lost the trust of speculators and different partners since it has introduced reports and records which were totally confounded. One of them was the poor administration of the stock, because of which the EBITDA was the organization raised. Notwithstanding this the obligation of the organization was likewise expanded and in absence of the transient obligation, the top level administration of the organization proclaimed that the organization is working in misfortunes. The organization additionally neglected to record their budget summaries from the most recent 4 years which created doubt among its partne rs. Mooring capital accomplice is a benefit making organization, which builds the benefit of investors independent of their venture (Anchorage Capital Partner, 2016). The organization is working not just for those which are recorded in the stick trade yet additionally for the medium and little measured organizations. It utilizes value shares as a methods for activity. Likewise, it has been seen that such firms seriously deducts the resources for show an augmentation in the net revenue of the organization. The top administration was very happy with the exhibition of the Dick Smith and they were seeking after greater interest in the organization in future. The fiscal reports introduced by the organization were not legitimate as a few figures referenced in the books were not satisfactory and their appropriate source was likewise absent. What's more, the unaudited records of the organization was likewise recouped which shows that the organization has not examined its records from 2010-2014 (Wright, 2016). Every one of these exercises show that genuine lack of regard a flippant conduct of the administration prompts the decay of the Dick Smith. The fiscal reports appeared by the organization were a negligible endeavor to impact its investors and financial specialists. Deloitte has assumed a huge job in the liquidation procedure of the Dick Smith. The organization guaranteed that the budget summaries were set up with most extreme consideration and is likewise in consistence with the bookkeeping measures. Anyway it was seen that the future possibilities of the organization was not recorded and past activities were likewise not present. Deloitte was taking a shot at the venture as records examiner, following three days of appropriate perception it stopped the records of Dick Smith. Deloitte saw that the top level administration who have selected an unmistakable flippant conduct towards its investors and speculators. The organization has not put forth any attempt in expanding the wellsprings of funds, aside from this they has likewise not demonstrated their sources in the budget reports (Boyd, 2016). They were attempting to keep up the phony execution of the organization in the market so that so as to dazzle its partners and speculators. Deloitte saw that the senior execut

How to Find Good Third Grade Essay Samples

How to Find Good Third Grade Essay SamplesAs the deadline for writing your third grade essay approaches, you may be in a quandary about where to turn to find those popular essay samples. There are a number of different sites on the internet that offer free or low cost essays, but many of them are not suited for children with little writing skills and those that require deep explanation of concepts.Many essays are given to the deserving children who go on to write the best and brightest essays that are sought by colleges and universities. These are the children that have not only excelled in their classes, but also mastered the craft of essay writing, which means they know how to express themselves and complete their assignments. The essays that they produce are outstanding and tend to put their schoolwork and other work in an admirable light.For a child to get great grades in school, they need to be able to create essays that are compelling and interesting. This is where third grade essay samples can help. In these resources, they will be able to find many different samples that allow them to get some great ideas of what they should be writing.When a child is in this age, they are not necessarily going to be able to think of something that hasn't been written down before. When they look at these samples, they can actually see the directions that were followed, as well as what subject matter is discussed in each sentence. Many times, they will be able to look at each sentence and see if it has been explained in more detail in the sample essay.With the online resource websites that offer third grade essay samples, they are able to click a button and have access to many different essays. This allows them to determine which ones will be right for them, as well as which one will be easy to read and understand. If they are unable to understand something, they are able to simply close the window and move onto the next.Third grade essay samples are also available on th e child's own device. With this, they do not have to wait to go through the paper themselves, but can actually see it at their leisure. This allows them to compare notes on what they learn from it and determine which ones they think would be suitable for them to use in their future work.Not all children enjoy writing a paper, but those that do love to express themselves and learn, are most likely to want to continue to do so as they get older. This is why having an essay for them to do is important. This can help them along the way to being able to write their own papers, as well as helping them learn how to develop their own unique style.It is important for them to understand that these are free resources and not free for them to get. This means that they will have to keep a limit on how much they are willing to spend for it. After all, no one wants to pay for something that they can get for free without doing anything for it.

Writing Researches

Writing ResearchesWhen you're writing a science or math research paper, there are some things you must remember. Some steps of the process seem obvious, but others don't seem so easy to remember, and they should be very simple to follow. With any good research paper, you'll learn how to organize the topics you want to cover in the best way.First of all, there's the need to know what you're going to write about. Just as a reader needs to know what he or she will be reading, your readers need to know what you're going to write about. This is an important step that can prevent your ideas from just being random drivel. By knowing why you're writing the paper, you'll be able to avoid going off topic.At this point, it's a good idea to come up with a title for your paper. It's the first thing the reader sees, and by deciding on a title beforehand, you're not wasting time trying to figure out what the paper is about later. It is also necessary to use a title that is easy to remember.The seco nd step you need to consider when writing a research paper is to make sure you know what you're writing about. For example, you don't want to just throw in any old question about aliens and the government that pop into your head. A good part of writing a research paper is being able to tie up your ideas in a way that makes sense. You need to know that what you're researching is important and relevant to your own research.You'll also want to check out how well the information written in the paper is presented. For example, does the paper read well? Does it flow smoothly? Is there a clear hierarchy to the points you're making? All of these questions should be answered before you go ahead and start writing.Finally, you'll want to consider the length of your research paper. How long should it be? How many pages is long enough? What works best for you?The bottom line: you'll need to take some time to think about the right order to go through when writing a research paper. Use the title, think about the topic, and think about the order you want to present your ideas. Then begin writing your papers. With practice, you'll be able to write them without any trouble.Of course, I hope this article has helped you out in some way. To learn more about how you can really help others, sign up for a free e-course. If you've never done this before, you may want to go check out some other articles by clicking the links below.

Economic Growth In Northern And Eastern Province Finance Essay - Free Essay Example

Ever since the LTTE was defeated in May 2009, there has been just one thought on the business communitys minds opportunities for growth in the North and East provinces. However, business confidence was low due to the political instability in the country at that time. But, following the results of the recently held Presidential and Parliamentary Elections, the emergent political stability for the foreseeable future has restored investor confidence. With abundant man-power and land availability coupled with the massive infrastructure development taking place and incentives provided for investment in the area, almost all industries are trying to grab a piece of the pie. In addition to the local investors, the government has also taken steps to attract foreign direct investments in the region. However, their success will be determined by their ability to raise finance for their planned investments. BANKING INDUSTRY Blue chip companies have the option of generating funds through the sale of equities in the form of IPOs and rights issues. However, most Sri Lankan businesses are small and medium sized enterprises most of which are not attracted by the option of sharing ownership through the sale of shares. Hence they look towards banks to provide financial solutions for their investments. The banking industry is one of the most profitable industries in the island. With the above scenario of businesses clamoring to obtain funds for their investments, the banking industry has turned into a vital business partner without which nothing can happen. This is also the opportunity that each bank has to create a reputation for itself in Project Financing. In order to meet these needs, banks have to undergo expansion. The Sri Lankan banking industry comprises of licensed commercial banks, licensed specialized banks and registered finance companies. The licensed commercial banks comprise of what can be termed as state banks, domestic private banks and foreign private banks. It is these institutions, the licensed commercial banks, numbering 22, which fight for the spoils in a very profitable industry. The two state banks have an advantage since they are used by the government for its numerous projects. The foreign banks, 11 in number, have an advantage where-in they are able to provide funds for large investments by approaching their world-wide groups. It should be noted that the foreign banks have increased their stake in credit advances in recent times. It is the nine domestic private banks which have to strive hard to win over clients through capitalizing on their very own competitive edge. Furthermore, the domestic private banks also face some competition from the 14 development banks (categorized under licensed specialized banks) which normally make the first move in the project finance sector. THE NEED FOR RISK MANAGEMENT With increasing regulation in the banking industry, banks have to balance their potential profitability against risk of loans turning into non performing advances. For instance, over-exposure to a particular industry could result in losses if the industry fails. In addition, the selection of a wrong location to establish a bank branch would result in poor customer attraction. Thus, Risk Management has come to the forefront of all activities connected to banks. Stringent credit tests need to be undertaken to weed out poor investments and banks would have to reduce risk by getting involved in a range of industries. Banks presently focus on risks relating to nonpayment of advances and exposure to a particular industry. However, they would also have to take into account knowledge risk, relationship risk, operational risk etc. when taking decisions as all these play a role in the final decision. Furthermore, relationship risk is of significance since people in the region place their faith in financial institutions based on relationships. Therefore, in an environment of economic growth where the demand for credit is rising, banks have to be careful of the options they select. Diving head-on into any mildly feasible project or haphazard selection of expansion tactics will spell disaster. It is here that the management should ensure that effective risk management strategies are in place and a right balance is struck between profitability, expansion and risk exposure. PUBLICATION An analysis of the above scenario is seeking publication in a magazine/newspaper catering to bankers and professionals across other industries. I have short listed the following publications; The Banker is a quarterly publication by the Institute of Bankers in Sri Lanka. This is the only local industry journal and covers all aspects of the banking industry in the country. With its circulation of 16,000 reaching industry professionals, its position as a journal makes it a good medium for any industry related articles. Its only drawbacks are that articles have a ceiling limit of 1,500 words, is highly technical and focuses little on strategy. The Financial Times is Sri Lankas only financial daily. Launched in 2009, it covers news items on local and foreign businesses while giving more emphasis to domestic issues. It also consists of articles relating to business strategy across varying industries on a weekly basis. With its core readership being financial sector employees and business analysts, this newspaper would be an ideal platform to capture the attention of my target audience. Lanka Monthly Digest (LMD) is the island nations leading business magazine with a monthly readership of nearly 20,000 and a target readership which comprises business and opinion leaders, senior managers and professionals. Its content comprise chiefly of current affairs, business and politics relating to the domestic environment. However, it provides little emphasis on the local banking industry. I firmly believe that my article, which takes into account the need for risk management in an environment of economic growth potential is a timely read for professionals in the banking and financial services industries, and as such would be of interest to the readership of the above three magazines. However, The Financial Times emphasis on local business news and investment opportunities making it the preferred read for investors, bankers and business analysts influences me to make it the chosen publication for my article. I believe that this newspapers readership would benefit from the points raised from the banking industry perspective on tackling growth and risk management. It could also be a starting point of debate on what the future holds for the banking industry and strategies to be implemented in the current economic climate. Word Count: 1059 words TASK TWO THE BALANCING ACT ECONOMIC GROWTH, RISK EXPANSION ECONOMIC GROWTH Sri Lanka has received its third opportunity to turn around its economy. Following independence in 1948 and opening up of the economy in 1977, the end of the conflict in the Northern and Eastern parts of the country in May 2009 has bought with it opportunities hitherto inaccessible. The infrastructure development currently taking place together with the abundant man power, availability of land, proximity to Trincomalee port and government incentives for investment in the region has made the Northern and Eastern Provinces hot spots for investors. At present, analysts forecast that bids for investment in tourism, agriculture, fisheries and manufacturing sectors will increase in the region. While blue chip organizations will undertake most of the large scale investments, many small and medium enterprises have been queuing up to grab a piece of the pie. This is where the banking industry comes into play as more than 95% of the investors are bound to approach banks for funding. The Sri Lankan banking industry has performed reasonably well over the past few years. Profit before tax of all Licensed Commercial Banks reached Rs. 27.6 billion for the year ended 2009 while registering a growth of 9.3 per cent. On average, the banks are taxed nearly 60% of their earnings. However, the Sri Lankan banks have comfortably managed to remain on the black despite 2009 being a tough year due to the heightened war and global recession. To-date, business ventures based themselves in the Western Province primarily due to infrastructure availability. However, with the ending of the war and the development activities in the other regions as well as in the Northern and Eastern Provinces, banks have begun expeditiously establishing their presence in certain areas. The 2009 Central Bank Annual Report states that The number of new bank branches opened by Licensed Commercial Banks was 49, of which 38 were outside the Western Province. Further, out of the 49 new bank branches 17 branches were opened in the Eastern Province while 10 branches were opened in the Northern Province. This indicates that banks have begun expanding their operations to meet the demand. It also shows that the banks have recognized the need to build relationships with the community in order to help them get them back on their own two feet. In the long term, a step by step approach would assist banks to increase their volume of retail banking activities due to the fact that, with time and economic development of the region, people tend to turn to banks for other financing solutions. However, corporate banking is a different kettle of fish. The recent decrease in interest rates to around 10% to 13%(the lowest in recent times) and the Central Banks special lines of credit for the agriculture and livestock sectors, Small Medium Enterprises, and development programmes such as Eastern Rising and Awakening North, have resulted in a massive demand for project finance. Offering advances for investments which comply with the special lines of credit category provide banks the room to earn more profits since the cost of obtaining funds for those loans is lower than the market rate of obtaining funds to provide advances to loan applicants under normal circumstances. The Central Banks above-mentioned initiatives would not only assist entrepreneurs obtain cheaper funds, but also provide banks with opportunities for increased profitability. However, the demand for advances also means that commercial banks have to face increased competition among themselves and with development banks to win over large clients. While negotiating with SMEs tend to be a little easier considering their lower bargaining power and their fear of the application being rejected elsewhere, banks tend to struggle when negotiating with multi-nationals or conglomerates since they are able to look at other avenues of finance due to positive credit ratings and reputation as well as the promise of a slice of probable future banking needs, such as working capital, once operations start. Furthermore, not all projects succeed as planned, and with banks handing out more advances to maintain market share, they run the risk of their advances turning into non-performing loans which have now hit 8.8% (refer appendix table 3). In addition, setting up new branches and the expense involved in promoting the bank is a cost that most banks did not forecast. Therefore, while the positive economic climate is going to bring in more business, increased costs will have to be incurred to be able to meet the demand. Thus, if not managed properly, the economic growth could spell doom for some banks. RISK MANAGEMENT IN TIMES OF GROWTH The Sri Lankan banking industry managed to steer clear of the ills faced by the banking industry in the western world. However, the crisis in the west has resulted in domestic banks adopting extremely tight conditions which have to be complied with in order to get approval for advances. Despite being in an environment of economic growth, interest rates being lowered and demand for credit rising, the current sentiment expressed by entrepreneurs is that they are not getting advances they apply for. While banks are right to protect their interests and ensure they keep their non-performing loans at a minimum, their tight financial risk management policies have blocked them from earning as much as they can. Furthermore, operational risk management strategies have also limited the scope of intuitive judgment. Thus, employees are constrained by not being able to proceed with attractive options till the necessary controls have been complied with. In comparison, banks have devoted insufficient attention to knowledge risk and relationship risk. In these times of economic growth, banks should ensure that their personnel are consistently provided with training and education programmes on the developments in different industries and market trends. An absence of knowledge of the market could result in evaluators turning down applications for profitable ventures. Furthermore, in an industry operating largely on the strength of relationships and an environment where it is the retail customers who set up SMEs, banks run the risk of losing customers to competitors who accommodate their request for advances. Therefore banks have to ensure that they give as much support to their clients as possible. After all, when it comes to an enterprise, a lost customer also means a loss of all the future business, such as leasing, current accounts, overdrafts etc., he would carry out once the venture gets off the ground. EXPANSION The banking industry has recognized the need to establish a presence in the Northern and Eastern areas. However, this was not something they envisaged when budgets were drawn up at the end of the year. For instance, Sampath Bank has now drawn up a strategy to open their 200th branch by end 2011 (they had 131 at end 2009). But selection of locations in North and East would not be easy since infrastructure development projects are still to be completed and the people have barely begun returning to their homes. However, early movement into the region would provide them with the opportunity to establish a relationship with the community and begin retail banking activities. While retail banking would be slow to pick up and provide returns, a presence is nevertheless important to assist business ventures which have already started or are proposed to start in the region. However, expansion is more than simply setting up branches. Some analysts are of the opinion that with 22 licensed commercial banks and 14 licensed specialized banks, the Sri Lankan banking industry is too crowded and mergers would bring about improved efficiency and profits. However, with single shareholder ownership limits, acting in concert rules and anti-competitive laws in place, this seems highly unlikely at present. Furthermore, the Sampath Bank-HNB takeover incident in 2000 and the 2009 Commercial Bank ownership tussle indicate that directors of banks are loath to takeovers of any sort. This leaves the banks with the option of Market Development and Product Development. At present, none of the domestic private banks and foreign banks has a presence in the districts of Kilinochchi, Mannar and Mullaitivu while certain domestic private banks have only one or two branches in Trincomalee, Batticaloa and Vavuniya districts. However, Bank of Ceylon and Peoples Bank, the state-backed banks, have a considerable presence in the area connected to its online network. It is safe to say that they have already obtained the first mover advantage. Under these circumstances, a strategy for the private domestic banks would involve identification of a suitable location to set up the branch, identification of which products to sell and then a considerable amount of expenditure in promotions and marketing staff. The marketing arm would need to sell their existing products to a segment of the population who may already bank with their competitors the state banks. Thus pricing should be carried out carefully. Initially, basic instruments such as different savings accounts, current accounts, housing loans, leasing facilities and ATM networks would be sufficient. However, these banks would also have to meet the needs of the corporate clients who invest in the region. Thus the expansion strategy would have take into account the relevant banks level of involvement in the area before setting up a branch. Furthermore, risk evaluations have to be carried out to forecast the potential earnings in the long run since the branches would provide a positive return only in the medium-term period. While a physical presence in the area would cover one part of the strategy, the balance part would require adapting products to suit the needs of the corporate clients. Standard products would be difficult to sell considering the different environment of operations in the region. Meanwhile, risk management should be carried out effectively to ensure that non performing advances are kept to a minimum. Thus, the balancing of the opportunity for growth, the requirement to follow risk management procedures and the need expand operations while maintaining profitability is something the banks will have to carefully consider in the coming months. MARKETING IN THE INDUSTRY The above scenario would necessitate a change in the manner in which marketing professionals carry out their work. Hitherto, financial solutions were first created and then the task of attracting customers was given to the marketers. The Sri Lankan financial market still trades in basic savings and credit instruments and therefore the risk is low. Furthermore, most customers are aware of the various instruments. It was simply a matter of convincing the clients to make use of the variety of financial solutions. A change in the status quo could pose a problem to the marketing profession in the banking industry as it employs few pure marketers. In Sri Lanka, in order to be promoted, even marketers have to arm themselves with academic or professional qualifications in banking. Therefore, marketers in the industry would also have to gear themselves with knowledge on business, finance and statistics. Furthermore, in an environment where banks have to be a partner in most business ventures, marketers would now have to play a more pro-active role in the field of corporate banking. They will have to attract customers by analyzing the investment market, opportunities for growth and then lure existing business ventures to actively engage in business in the northern and eastern regions. Simply said, they have to be a step ahead of the investors and provide the enterprises with the opportunities to do business in, instead of businesses seeking opportunities and then approaching banks for finance. This would require considerable investments in knowledge management. Furthermore, marketing professionals, as individuals, would have to invest more time in keeping a tab on available business opportunities as well as conduct studies on various industries and segments in each industry which would stand to benefit from the opportunities in the North and East. They will also have to strengthen ne gotiation skills to be able to convince corporate clients to sign up with their bank. In both, retail banking and corporate banking, customer relationships are a vital component since, in a climate of growth, a loss of a client would also result in the loss of further business the customer would have bought in through positive word of mouth and turning towards the bank for financial solutions to unrelated problems. Hence, marketers will have to be more courteous in service and establish better bonds. This means that marketing professionals would have to ensure that customer relationship strategies are strengthened while carrying out operations. TIME TO GET THINGS STARTED FAST Private domestic banks would have to get things rolling fast if they are to grab a slice of the retail banking share in the North and East provinces. Adjustments need to be incorporated into strategic plans and implemented. Furthermore, risk management strategies have to be reviewed and strengthened while taking into account relationship risk, knowledge risk and operational risks when dealing with corporate clients. And for all this to succeed, the marketers would have to change their approach and get ahead of the game by updating themselves on the advances in each industry and developments in the Northern and Eastern provinces. Word Count: 2150 Words REFERENCES Central Bank of Sri Lanka Annual Report 2009, report on Financial Sector Development Available at: https://www.cbsl.gov.lk/pics_n_docs/10_pub/_docs/efr/annual_report/ar2009e/PDF/12_chapter_08.pdf [Accessed 21 April 2010] Medium Term Macro Economic Policies and Challenges Central Bank of Sri Lanka Available at: https://www.cbsl.gov.lk/pics_n_docs/10_pub/_docs/efr/annual_report/ar2009e/PDF/5_chapter_01.pdf [Accessed 21 April 2010] LMD magazine Available at: https://www.lmd.lk/2010/April/about.htm [Accessed 22 April 2010] Financial Sector Assessment of Sri Lanka by Asian Development Bank Available at: https://www.adb.org/documents/assessments/financial/SRI-financial-sector-assessment-2005.pdf [Accessed 23 April 2010] BOI incentives for Northern and Eastern Provinces Available at: https://www.boi.lk/2009/pdf/Eastern%20%20Northern.pdf [Accessed 5 May 2010] Central Bank Key Economic Indicators Interest Rates Available at: https://www.cbsl.gov.lk/pics_n_docs/10_pub/_docs/efr/annual_report/ar2009e/PDF/3.pdf [Accessed 5 May 2010] Selected Financial Performance Indicators in the Banking Industry 1998-2009 Available at: https://www.cbsl.gov.lk/pics_n_docs/08_stat/_docs/xls_financial_sector/table5.04.xls [Accessed 5 May 2010] Association of Professional Bankers of Sri Lanka Available at: https://www.apbsrilanka.org/general/aboutus.html [Accessed 22 April 2010] Regulation of the Banking and Related Sectors in Sri Lanka by Ms. Joan De Zilva, Director, Bank Supervision, Central Bank of Sri Lanka Available at: https://www.ips.lk/events/workshops/22_07_2004_ria/papers/joan_de_zilva_banking_supervision.pdf [Accessed 5 May 2010] Sri Lanka Sector Quarterly Update Third Quarter 2009 Available at: https://www.wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2009/11/24/000334955_20091124015756/Rendered/PDF/517720NEWS0Sri10Box342045B01PUBLIC1.pdf [Accessed 7 May 2010] World Bank Sri Lanka Economic Update, April 2010 Available at: https://www.wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/05/27/000334955_20100527074112/Rendered/PDF/547290WP0SriLa10Box349429B01PUBLIC1.pdf [Accessed 24 May 2010] Central bank of Sri Lanka Recent Economic Developments Highlights of 2009 and Prospects for 2010 Available at: https://www.cbsl.gov.lk/pics_n_docs/10_pub/_docs/efr/recent_economic_development/Red09En/data_e_2009_10/red_chap_8.pdf [Accessed 26 May 2010]

Industrialization in England Essay - 1828 Words

The world has changed in many ways throughout history. Industrialization has changed England in many ways. The Industrial Revolution was too hard on the men, women, and children in England. The changes that occurred in the economy and society in Britain during the late 18th and 19th century is known as the Industrial Revolution (McCloskey Int.). The Industrial Revolution was a drawn-out process that transformed Britain’s economy from the production of goods by hand to the production of goods by machine (Thackerary 1). During this time the number of people employed in industrial manufacturing, making many different goods, and especially making textiles, iron goods, metal waves, and pottery increased dramatically (McCloskey Int.). At the†¦show more content†¦In 1851, the employment of textiles rose from 1.3 million to over 1.5 million by 1911. Clothing went from nine hundred thousand to over 1.2 million workers. Engineering and metal working rose from over half a millio n workers to nearly two million. In the paper and printing industry the employment increased five-fold to nearly four hundred thousand employees. Employment in the chemical, oil, and soap industries increased over four-fold to two hundred thousand workers (Mingay 27). By 1849, there were twelve steel-pen factories employing an average of one hundred fifty-four employees in each factory. Mechanized industries employed less than two million workers in 1851 (Mingay 26). In 1871 there were one hundred forty-five factories making boots and shoes, and each factory employed an average of one hundred twenty-five workers. There were fifty-eight cheap clothing factories that employed an average of one hundred thirty-six workers a piece. The expansion of the market at home and overseas was the ultimate reason for the growth of the factories in Britain (Mingay 26). 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