The Yellow Wallpaper - Journey Into Insanity Essays - Beecher Family

The Yellow Wallpaper - Journey into Insanity In "The Yellow Wallpaper", by Charlotte Perkins Gilman, the dominant/submissive relationship between an oppressive husband and his submissive wife pushes her from depression into insanity. Flawed human nature seems to play a great role in her breakdown. Her husband, a noted physician, is unwilling to admit that there might really be something wrong with his wife. This same attitude is seen in her brother, who is also a physician. While this attitude, and the actions taken because of it, certainly contributed to her breakdown; it seems to me that there is a rebellious spirit in her. Perhaps unconsciously she seems determined to prove them wrong. As the story begins, the woman -- whose name we never learn -- tells of her depression and how it is dismissed by her husband and brother. "You see, he does not believe I am sick! And what can one do? If a physician of high standing, and one's own husband, assures friends and relatives that there is really nothing the matter with one but temporary nervous depression -- a slight hysterical * * * * * Roberts 2 tendency -- what is one to do?" (Gilman 193). These two men -- both doctors -- seem completely unable to admit that there might be more to her condition than than just stress and a slight nervous condition. Even when a summer in the country and weeks of bed-rest don't help, her husband refuses to accept that she may have a real problem. Throughout the story there are examples of the dominant - submissive relationship. She is virtually imprisoned in her bedroom, supposedly to allow her to rest and recover her health. She is forbidden to work, "So I . . . am absolutely forbidden to "work" until I am well again." (Gilman 193). She is not even supposed to write: "There comes John, and I must put this away -- he hates to have me write a word." (Gilman 194). She has no say in the location or decor of the room she is virtually imprisoned in: "I don't like our room a bit. I wanted . . . But John would not hear of it." (Gilman 193). She can't have visitors: "It is so discouraging not to have any advice and companionship about my work. . . but he says he would as soon put fireworks in my pillow-case as to let me have those stimulating people about now." (Gilman 196). Probably in large part because of her oppression, she continues to decline. "I don't feel as if it was worthwhile to turn my hand over for anything. . ." (Gilman 197). It seems that her husband is oblivious to her declining conditon, since he never admits she has a real problem until * * * * * Roberts 3 the end of the story -- at which time he fainted. John could have obtained council from someone less personally involved in her case, but the only help he seeks was for the house and baby. He obtains a nanny to watch over the children while he was away at work each day: "It is fortunate Mary is so good with the baby." (Gilman 195). And he had his sister Jennie take care of the house. "She is a perfect and enthusiastic housekeeper." (Gilman 196). He does talk of taking her to an expert: "John says if I don't pick up faster he shall send me to Weir Mitchell in the fall." But she took that as a threat since he was even more domineering than her husband and brother. Not only does he fail to get her help, but by keeping her virtually a prisoner in a room with nauseating wallpaper and very little to occupy her mind, let alone offer any kind of mental stimulation, he almost forces her to dwell on her problem. Prison is supposed to be depressing, and she is pretty close to being a prisoner. Perhaps if she had been allowed to come and go and do as she pleased her depression might have lifted: "I think sometimes that if I were only well enough to write a little it would relieve

How to Earn Money as a Freelance Writer

How to Earn Money as a Freelance Writer Cormac McCarthy, American novelist, Pulitzer Prize winner and playwright, once said, I never had any doubts about my abilities. I knew I could write. I just had to figure out how to eat while doing this.This monumental task- figuring out how to do what you love (write) and pay the bills while doing it- is one that every writer faces, regardless of ability. However, before making the decision to quit your day job and launch out into the uncharted, and often stormy, waters of freelance writing, there are a few things you should know. Most importantly, you should know that the success you find in the field of freelance writing will be due to a mix of luck, fortitude and networking, and it will take a healthy dose of all three to thrive financially.Freelance websitesIn the Information Age, when everything has turned global, websites that offer freelancers the opportunity to create profiles and bid on jobs can be one of your best resources to earn steady money as a freelance writer. Websi tes like Freelancer.com and Guru.com are some of the most commonly used online portals for bidding on freelance writing jobs of all types- from ghostwriting to copywriting to everything in between. Both of these sites offer limited bid submission for proposals without having to pay a monthly fee; however, if you want to bid on a lot of proposals to increase your chances of getting the work, you will need to pay a small monthly fee to do so. The more proposals you bid on, the more money you will be able to make; so for some writers, this additional fee is worth it.The best thing about websites like these is that the site administrators will ensure that you indeed get paid. They do this through setting up an escrow account in which the client requesting the work has to fund an account with the amount that is owed to you. Once you complete the job to the satisfaction of the client, the website will then release the funds to you. However, both Guru.com and Freelancer.com take a small pe rcentage of the payment as their fee for facilitating the transaction.The current going rate for most projects on freelance websites is approximately .01 - .02 per word. You will be hard-pressed to find clients who are willing to pay more, especially since the sites are international, meaning that there are thousands of international freelancers available through them who are willing to write for that amount if you arent. While there are certainly jobs posted that do offer more money, signing up with the expectation of this amount of payment is your best bet in entering the field with a realistic understanding of what you can make as a freelance writer through these types of websites.While freelance websites can offer you unlimited amounts of freelance writing work, the work itself is often unfulfilling for many writers. Copywriting includes writing online content about different topics- ranging from law for attorney blogs to sales copy for marketing companies. While the work is oft en steady, the writing can become extremely boring and repetitive the longer you do it. In addition, most of the clients you will find on these freelance websites want you to ghostwrite the copy, meaning that your name will not be attached to the content. If you want to just be able to work from home as a writer and make money doing it, these websites are a great option; however, if you want to make a name for yourself as a writer, you might try other avenues, such as writing for a magazine.MagazinesFor most freelance writers, writing for a magazine provides a better opportunity than freelance websites to find success as a freelance writer and build a solid reputation. When you publish an article for a magazine, your name is generally placed in the by-line and you are able to share your accomplishment with your friends and family, as well as use it as part of your published work portfolio to gain even more clients.The best way to break into the world of freelance writing for magazin es is to build a relationship with the editor of that magazine. This can be done in several ways but usually starts by sending a rà ©sumà © and portfolio to him or her, and let the editor know that you are available as a writer for any freelance work that the magazine might have available in the future. If an editor is in need of freelance writers due to not having enough staff writers (which is often the case), he or she is likely to give you an assignment based on this interaction. However, if the editor doesnt immediately give you an assignment, it is up to you to be proactive and begin to look for stories that would catch the attention of the editor and the readership of the magazine.Once you have an idea for a story, go ahead and query the editor with your idea by sending a letter or email with details about the article youd like to write. For an even better chance of getting published in the magazine, write the article before querying. This will not only give the editor a gl impse of your ability but will also help sell your article, if it is written well.Most magazines pay anywhere from $70-$100 for a feature story, so this is a great way to start making decent money as a freelance writer. However, it also requires you to be constantly creative and always observant in order to find the best content to pitch.

How the media negatively effects women's body image Essay

How the media negatively effects women's body image - Essay Example In movies, particularly, but also in television shows and the accompanying commercials, womens and girls appearance is frequently commented on: 58 percent of female characters in movies had comments made about their looks, as did 28 percent in television shows and 26 percent of the female models in the accompanying commercials† (â€Å"Media’s Effect on†). The definition of a beautiful woman has undergone a radical transformation over the last few decades, and no factor’s role is as dominating in causing this effect than media. The trend of a skinny woman being defined as beautiful started around the mid-20th century. It would not be wrong to state that the new definition of beauty is just as old as the television itself. Hollywood has played a pivotal role in bringing a transformation in the definition of a beautiful woman. By offering roles to skinny and beautiful actresses from as early as the later half of the 20th century in movies, television and media has been slowly but progressively reincarnating the image of a beautiful woman. Today, the transformation has completed and its biggest victims are ordinary women. When women look at the skinny actresses and models at the cover pages of their famous magazines and in the soaps, even the most beautiful women who are naturally beautiful according to all reasonable and right standards find themselves losing to the beauty of these cover girls. Women are trying a range of techniques and strategies in an attempt to meet the standards of beauty in the contemporary age. From changing diet plans, adopting an intense exercise regime, to undergoing liposuction surgery to get that supposedly extra fat sucked out, women are doing it all. â€Å"The mindset that a person can never be "too rich or too thin" is all too prevalent in society, and it makes it difficult for females to achieve any level of contentment with their physical appearance† (Serdar). All of this comes at a great cost. Some women have to pay a lot of

Great Depression Essay Example | Topics and Well Written Essays - 1250 words

Great Depression - Essay Example The citizens, on the other hand, cut down their expenditure. It then spread to the other parts of the world because of the relationships the US had with other countries. Both the poor and the rich countries felt the effects of the great depression. Cities were affected and mostly the ones which depended on heavy industry. Construction and farming were hit hard. The level of joblessness rose. Citizens blamed the president in power for the economic depression they were facing and were not willing to re-elect him back to power. This led to the election of President Roosevelt, a democrat, who applied some changes in the economy of America and adopted new policies. In the mid 1930s, some economies began to recover with some recovering after the end of the World War 2. This essay will look into the causes of the Great depression and the reasons it lasted so long. Causes of the Great Depression The economic depression happened because of a number of causes. The crash of the stock market is said to be the spark that ignited the fire of the economic depression. A number of scholars agree that it is the leading cause of the great depression. At the end of the market day on 24 October, the market had declined by 21 percent from the high. The market fell by several points in the first three quarters of the year. A selling panic occurred. By the year 1932, when the crash was completed, stocks had lost almost 90 percent of their value. The great depression could not be avoided despite the fact that the stock market recovered some of its losses (Walton 424). Another cause of the depression was the reduction in purchasing. After the fall in the stock market, people of both the upper and lower classes stopped purchasing items. This was due to the fear of probable future economic problems. No one was ready to risk his property. Resultantly, the production of items decreased leading to need of a smaller work force. Employees had to sack a number of their employees to reduce the w orkforce resulting in a rise in the number of the unemployed to a percentage of around twenty-five. The people who lost their jobs could not continue paying for the items they had bought hence led to repossession of their items (Walton 425). Another great cause of the depression was bank failures. Over nine thousand banks failed throughout the 1930s. This failure led a massive number of people losing their savings and rendering them broke. The few surviving banks were concerned with how they will be able to continue. They hence had to come up with new strategies on how they will continue without failing. One of the strategies was they are not extending loans. This lead to a worse situation than it was after savings got lost because of bank failures. People spent less since they had lost savings in the failed banks and the surviving banks were not ready to give them loans. Hence, the demand went down (Walton 429). Things got more difficult and businesses started failing. The American government thought that creating an American economic policy with Europe will save the situation but it did not. This policy was called the Smoot-Hawley Tariff and was created in the 1930. Its aim was to help protect the American companies. The policy increased the import tax charge. This increase in the import tax led to less trade between America and foreign countries. Countries found it expensive to trade with America after the increase in the i

Critically discuss the empirical evidence that there are sex Essay - 1

Critically discuss the empirical evidence that there are sex differences in intelligence - Essay Example Rather, it reflects a broader and deeper capability for comprehending our surroundings—"catching on", "making sense" of things, or "figuring out" what to do. (p.13) The complex factors that affect intelligence have fascinated researchers over the years, with the belief that gender plays a significant role in cognitive abilities. In an effort to settle controversies concerning gender and intelligence, empirical researches in the fields of psychology and learning have made attempts to identify how the two sexes perform in certain cognitive tasks. Based on the results of the standardized measures in cognitive batteries, increasing evidence from various studies confirm that men’s functioning and women’s functioning are in fact different. A study conducted by Jackson and Rushton (2005) investigated the sex differences in general mental ability. A Scholastic Assessment Test was given to 100,000 high school graduates where results showed that the male samples performed better with an average IQ score of 3.63 higher than the females. This finding was consistent with other factors across groups such as gender differences in gene ral mental ability for participants from different socioeconomic levels and ethnic groups. Likewise, the British Journal of Psychology published the findings of a study made by Lyn and Irwing (2005) on a big sample of university men and women. The controversial research that aroused public attention indicated that based on IQ, men’s average scores were higher between 3.3 and 5.0 than women. While outcomes of these research studies have favored the male sample, results of other studies revealed that although both male and females vary on average in how competently they function on different skill tests, cognitive skills are actually equally distributed between them (Halpern, D.,Benbow, C., Geary, D., Gur, R., Hyde, J., and Gernsbacher,M., 2007). For instance, women are likely to achieve higher scores on specific verbal

Development Of A Five Star Hotel Island Construction Essay

Development Of A Five Star Hotel Island Construction Essay This report has been prepared for Expedition Maldives Pvt. Ltd to evaluate the feasibility of investing in a project to develop a five star hotel island under the name of Mendhoo Island Resort Development project by using project development methods with financial assessment. This report has been structured with the project scope definition, scope management, financial analysis with a conclusion drown from the analysis following with the recommendation. Scope management has been developed with the project life cycle with required phases with works in each phase in detail. To analyze the project financially, Discounted Cash flow analysis, Net present value analysis and internal rate of return analysis has been used Through this report, analysis has shown that investing in development of 100 room hotel is the most viable option for the Expedition Maldives Pvt. Ltd. The findings have shown that this project provides a good return since the internal rate of return of the project is higher than the required rate of return. Analysis on time value for money has also shown that its significant to invest in this project. Properly executing all the phases of project life cycle is very important and any delay could incur extra costs since the cash inflow starts from third year, when the hotel is in operation. For this project its highly recommended for the responsible management team of the Expedition Maldives Pvt. Ltd to track, trace and monitor all activities of the project life cycle and make necessary amendment if requires on time for the successful accomplishment of the project. 1. Introduction This report has been prepared for Expedition Maldives Pvt. Ltd to evaluate the feasibility of investing in a project to develop a five star hotel island under the name of Mendhoo Island Resort Development project by using project development methods with financial assessment. For this project whether to invest in 50 or 100 rooms hotel is been assessed and investing in development of 100 room hotel has been chosen as the most viable option and analyzed in detail. This report has been structured with the project scope definition, scope management, financial analysis with a conclusion drown from the analysis following with the recommendation. Scope management has been developed with the project life cycle with required phases with works in each phase in detail. To analyze the project financially, Discounted Cash flow analysis, Net present value analysis and internal rate of return analysis has been used. 2. Project Scope Management 2.1. Scope Definition Project Scope Management includes the process required to ensure that the project includes all the work required, and only the work required, to complete the project successfully. (Turner, 1992) The project scope definition document is mainly intended to endow with the project organization and the project manager with a road map of both the work to be completed within the estimated budget and time frame. It is a guide for future actions. Therefore, the scope document will be of an assistance to manage the project confidently and to maintain an effective communication process within the key stakeholders throughout the project. Mendhoo Island Resort project is planned to develop a Five Star Hotel (a Resort Island), which requires a huge financial investment. Tourism industry of Republic of Maldives is the fastest growing industry across the island nation and it is the major economic activity. Before considering the lease agreement from the owner, The Board of Directors of Expedition Maldives Pvt. Ltd have done necessary environmental analysis and developed a strategic business plan based on the recent market research to assess the feasibility of investing on this project. With the positive outcomes, the top management of the organization decided to hire the island on a long term lease basis for a period of ten years, within that, two years period is targeted for the construction and the balance seven years for the Hotel business operation at its full swing. The construction and development of the Hotel till its pre-opening is budgeted for US$ 8,000,000.00 (Eight million US Dollars). First activity of this project will be started with construction of Jetties, in order to aid and facilitate the unloading of required heavy load machineries and tools, material and other goods which is requisite to proceeding with the construction. Development phase of this project consists of 100 Guest Rooms (includes Beach Villas, Water Bungalows. The other important activities of this project include carrying out all the other related works which are required for accomplishment of this project. Development works of the project would be carried out in accordance with the project charter and the approved design frame work. According to the project charter, the project scheduled to commence on July 2011 and to be completed on July 2013. In regard with the all works, the company decided to hire skilled and qualified employees from related fields for the different areas of the total work to be done to accomplish the project. Project team of this project includes a project manager, Engineers and other functional department HODs and other staffs. apart from mentioned scope of the project, While continuing project if the need arises make amendments, that has to be considered in accordance with all the factors related to the project which includes budget, time frame and the quality of work. 2.2. Scope Management The above Figure: 1 which is the life cycle of this project, adopted in order to manage the scope of the project .this will provide all the detail activities which are to be carried out for project to succeed. Phase-1 Phase-2 Phase-3 Phase-4 Two years to complete the project Monitoring and Controlling Gate-1 Gate-2 Gate-3 Gate-4 Activities 1- Develop business case 2- Establish the terms of reference 3- Appoint the project team 4- Setup the project office 5- Review the phase Activities 1- Project plan 2- Resource plan 3- Financial plan 4- Quality plan 5- Risk plan 6- Acceptance plan 7- Communication plan 8- Procurement plan 9- Contract the suppliers 10- Review the phase Activities 1- Build deliverables 2- Monitor and control 3- Time management 4- Cost management 5- Quality management 6- Change management 7- Risk management 8- Issue management 9- Procurement management 10- Acceptance management 11- Communication management 12- Review the phase Activities 1- Perform project closure 2- Review project completion Activities 1- Current tourism market analysis 2-Envirnmental analysis 3- Feasibility study 4- Review the phase Activities 1- Start operating island as a hotel 2- Checking the performance Gate-5 Phase-5 Phase-6 Operation Completion Market Research Carryout the project works Initiation Planning Remaining eight years for operation Figure : Project Life Cycle. Life cycle of this project is consisting of six different phases with numbers of activities. The scopes of those activities are described below. The first phase is market research of the product and service, starting from analyzing the Current tourism market. Environmental analysis, to identify the risks associated with the project environment and to take possible action to mitigate the risk if required. Feasibility study; collecting all the information of business problems and gathering required solution option to fix it, finding out the available solution option, evaluating feasibly for each option, identifying risk and issues associated with each option and developing suggested solution option for implementation. Reviewing the phase is going to check all the requirements are identify and take proper action. The first phase of this project is carrying out market research, before considering financial investment decision on this project, the company will be conducting researches to collect information regarding the trends in current tourism industry of the country as well as global market to identify the cost and benefit of investing the project, which will be followed by environmental analysis to identify the issues associated with project environment to take proper action before proceeding with a legal contract with the island owner. Carrying out the feasibility of the project is also included in this phase by evaluating the current business problems and opportunities. Project Initiation is the second phase of the life cycle. The scopes of activities included in this phase are as follows: Develop a business case describing the opportunities, problems and issues which are exist and evaluating options to deliver solution and resolve the problems. This phase also includes cost and benefit associated with each solution option and recommended solution option for approval the business. Establishing the terms of reference, define the project vision, objectives, scope and deliverables, identifying the roles and responsibilities of stakeholders and allocating resource and finance required in accordance with the plan. Appointing project team, selecting qualified employees for appropriate positions is the most important function of the project. Settings up the project office, to monitor and control the project environment and manage cultural diversity of workforce. Review the phase, evaluation of achievement of this phase. Considering Initiation phase of this project, finding out business opportunities of investing to build 100 rooms hotel and its operation, also identifying the environmental changes that might impact the project period and gathering required solution for those impacts. This phase also will identify the core aspect of business environment such as business vision, goal and objectives to be archived. This phase also will evaluate the process and technology available for the project. Process and technologies that is relevant to the project, products and services. legal requirements of government on environmental factors and commercial and operational trends which drives towards the business, the key stakeholders information and assuring the most appropriate methods of allocating required resources for the project to be finalized. Appointing the project manager and allocating his responsibilities to proceed with selection of other team members necessary for carrying forward the project and allocating their responsibilities respectively. The final activity of this phase is building the project office to use the infrastructure as a base to manage project activities. Iproject planning is the third phase of project life cycle. Scope of this phase includes: Project plan: to identify the milestones, phases, activities and tasks to quantify the effort required. Allocating resources required and creating a project schedule including listing of the planning dependencies, assumptions and constraints. Resource plan: identify and list out the general types of resources required and assigning the resources to the activities and complete the resources usage table. Financial plan: to manage the costs and expenses likely to be inquired on the project such as employees wages, equipment, materials and administration cost. Quality plan: to maintain the terms of quality consider on the project and identify the targets to be met and describe the quality assurance and control techniques to be under taken. Risk plan: identifying list of risks and rating the likelihood of each risks occurring, provide the report of impact and reason of occur and setting up the prevention action to reduce the likelihood of the risk occurring. Setting out a mitigation action plan to reduce the impact. Acceptance plan: identify milestones to be archived and deliverables to be produced, developing what criteria and standards should be maintained for customer acceptance and reviewing the deliverables. Communication plan, provide required information to the stakeholders to keep them regularly informed of the progress of the project status. Scheduling the communication Events, methods and release dates, use matrix to highlight resources involved in each communication event and use clear process for each communication event with in the project. Procurement plan, understanding of the external supply market and provide to key stakeholders with required materials and reliable details of suppliers to present the materials within the time and budget to proceed procurement in accordance with the companys procumbent policy Contract the suppliers: conduct the tender process and evaluate the supplier and select appropriate supplier by looking ability and capability. Finally negotiating a formal contract with the preferred supplier. Review the phase, reviewing to check if the activities are in accordance with the requirements. Planning phase of this project is concerned on finding the milestones of project phases, number of activities and tasks to be complete within the particular timeframe, resource plan list out the required resources for the project such as employee, equipments and material. In this phase financial plan will identify the number of resources required and its related costs. Quality plan will provide the quality targets that should be archived. Risk plan is intended to emphasize the potential risks and what actions could be taken for mitigation of those risks. Acceptance plan is intended to list out the acceptance standard of the customer in regard with their expectations. Communication plan will describe what information is required and necessary to communicate with stakeholders. Procurement plan will identify a list of products and source of external suppliers which will be followed by the activity of contracting the suppliers after evaluating the best bidders. Fourth phase of the life cycle is Carryout the project works. The scopes of this phase are: Build deliverables, clearly define the objectives and deliverables, the final deliverable should meet the requirements of customers. Monitor and control, physically constructing each deliverable and use series of management process to monitor and control the activities that are undertaken. Time management, identify the total time required for each activity to complete the work on time and identify the percentage completed and outstanding works. Cost management, identify the cost/expenses of overall project and accurately manage the record the details, approve and paid the payments on time. Quality management, maintain the quality standard of the project according to the quality plan, using most appropriate quality measurement and techniques to measure the quality standards. Change management, if any changes required to the project scope, deliverable, timescale or resources, should be evaluated and approved before implementation. Risk management, use the best methods and theories to identify the risk associated with the project which includes quantifying, monitoring, avoiding, transferring and mitigating the risk with the help of risk register. Issue management, use the appropriate method to identify the issue through the issue register and take number of action to reduce impact that the issue is having on the project. Procurement management, to maintain the relationship with suppliers, monitor things that required and controlling the ordering receipt, review and approval of form suppliers, managing overall performance of the supplier. Acceptance management, to check the deliverables are met with the customer requirements by presenting each deliverable separately until the acceptance of all the project deliverables. Communication management, to provide right information at the right time to the correct stakeholders and should ensure the message is reached to the right person. Carrying out the project works: This phase will provide with the final deliverables to the stakeholders. While carrying out the project works, deliverables would be checked on a regular interval to get the feedbacks from respective stakeholders before beginning every stage which would be done through monitory and controlling. Each activity would be allocated with a particular time frame to meet deadlines. Variance has to be considered and adjusted if required and project scope should be discussed at managerial level for approvals. Risk management of the project should be carried out by recording in the project risk register to take necessary action for mitigation of the risk. In same manner other project issues also have to be registered in issue register to take required and needful actions. Procumbent of the project would be managed according to the procumbent plan, suppliers performance will be monitored are reviewed regularly. Further, all necessary information relating to project has to be recorded and delivered accordingly to the respective parties timely. Fifth phase of the life cycle is Completion; scopes of this phase are: Perform project closure, to ensure from the stakeholders the deliverables are met with their acceptation and check project achieved the objectives and delivered the benefits describe in the business case. Review project completion, to monitor achievements and failures of the project, to get better ideas for feature projects. Completion, phase of this project will check and ensure the deliverables are delivered according to the stakeholders expectation and project fully archived the objectives that are mentioned in the project scope and all the activities are review to identify the mistakes and errors to avoid in the feature projects. The last phase of the project is operations of hotel scope are Start operating island as a hotel, increasing the number of customers visiting on hotel providing quality standard services to them. Checking the performance, maximize the revenue of the hotel. Operation, phase of this project is to provide quality product and service customer to attract them to hotel and maintain their first choice holiday destination in Maldives and also yearly increasing the revenue of the company. 3. Financial Analysis of Project 3.1. Factors influences the choice of discount rate Considering to this project factors influence to the choice of discount rate are interest rate and inflation. When discounted if the interest rate is higher the outcome of NPV (time) would lower and vice versa due to inverse relation. Total Investment Capital Interest p.a. Total money payment Equity 8,000,000 14% 560,000 Total 8,000,000 560,000 Table : Cost of capital The bank saving rate at bank of Maldives is 10% p.a. for fixed deposits and the bank lends long term loans at 15% interest (which is the cost of borrowing). The firm owners (shareholders) who have invested for equity capital, although they are not expecting any interest for the invested equity capital, they have expectations about the companys performance and return for the risk that they have taken instead of investing in the bank. They would be getting a 10% return p.a. which is even less risky. Therefore the expectation of the shareholders in regard with the return is higher, which is 14% p.a. as presented in the above table 1.0. Therefore the while taking investment decision the company has to invest in such a way that fulfills the expectations of the shareholders in accordance with rate of return on their investment. The company decided to invest in a project to build a five star hotel. Before considering this investment decision the company carried out initial feasibility studies to decide whether to invest in construction and operations of 100 rooms or 50. The main purpose feasibility this study is to identify the cost/ benefit of the project and to consider the investment which gives highest rate of return. The following tables (table 2.0 and 3.0) provide the details of selection between two choices. Expected cash inflow per year if invested in 50 rooms Room Type No of rooms Expected occupancy per room p.a Room Rate US$ Water Villa 25 180 days 450 Beach Villa 25 180 days 250 Total Table : Expected cash inflow per year if invested in 50 rooms Total project duration ten years Construction and development requires one year. Full board operation nine years Expected duration to build and develop 50 room hotels requires one year. Operation will be started right after this period. Therefore this project totally consists of total ten years out of which nine years would be in full operations. The total expected cash inflow of this project by the end of ten year is US$ 28,350,000 at the rate of US$ 3150000 cash inflow per year for nine years. Expected cash inflow per year if invested in 100 rooms Room Type No of rooms Expected occupancy per room p.a Room Rate US$ Water Villa 50 180 days 450 Beach Villa 50 180 days 250 Total   Table : Expected cash inflow per year if invested in 100 rooms Total project duration ten years Construction and development requires two year. Full board operation eight years Expected duration to build and develop 100 room hotels requires two year. Operation will be started right after this period. Therefore this project totally consists of total ten years, out of which eight years would be in full operations. The total expected cash inflow of this project by the end of ten year is US$ 50,400,000.at the rate of US$ 6300,000 cash inflow per year for eight years. Since investing in construction and operation of 100 rooms givers higher cash inflow than 50 rooms hotel, the company decided to invest in construction and development of 100 rooms. 3.2. Discounted cash flow analysis The management of the company evaluated the option of investing in the project for construction and development of 100 (hundred) Rooms which includes Beach villas and water bungalows. The details are stated below. 3.3. Net present value (NPV) analysis Net present Value (NPV) represents the difference between the present vale (PV) of cash inflows and the Present value (PV) of cash outflows. Net Present Value is used to evaluate and analyze the profitability of this project since. The Net Present Value of following projected cash flow is calculated   Ã‚  with consideration of amount and timing of future cash inflows, amount and timing of future cash outflows and by using discount rate (at the rate of 14%). Project cash flow and Net Present Value(NPV) Year Net cash flows 0 -8000000 1 0 2 0 3 6300000 4 6300000 5 6300000 6 6300000 7 6300000 8 6300000 9 6300000 10 6300000 Net Present Value at 14% Table : Project cash flow and Net Present Value (NPV) 3.4. Internal rate of return analysis Internal rate of return is calculated to find the true rate of return earn on this investment over the course of 10 years life. The higher the projects internal rate of return, the more desirable to proceed with the product Project cash flow and Internal rate of Return(IRR) Years Net cash flows 0 -8000000 1 0 2 0 3 6300000 4 6300000 5 6300000 6 6300000 7 6300000 8 6300000 9 6300000 10 6300000 Internal Rate of Return (IRR) = 21.185 Table : Project cash flow and Internal Rate of Return (IRR) The Required Rate of Return (ROR) is 14% but the Internal Rate of Return (IRR) is 21.185% which means IRR is greater than ROR, and therefore project has to be preceded and carried forward. Since IRR > ROR the project has to be preceded and carried forward. 4. Conclusions Through this report, analysis has shown that investing in development of 100 room hotel is the most viable option for the Expedition Maldives Pvt. Ltd. The findings have shown that this project provides a good return since the internal rate of return of the project is higher than the required rate of return. Analysis on time value for money has also shown that its significant to invest in this project. Properly executing all the phases of project life cycle is very important and any delay could incur extra costs since the cash inflow starts from third year, when the hotel is in operation. The success depends on the ability of the project team to carry out the project work phases in accordance with the plan. If the project team is incompetent to carry out the planned work scheduled, it would be a countable threat to succeed the project 5. Recommendation As mentioned under conclusion the project team of Expedition Maldives Pvt. Ltd should ensure all means to stay with the project plan but to meet and resolve any unexpected issues on timely basis. Since Maldives is a country geographically widespread, regular transfer of required materials should be well in advance prepared and the senior management of the project must be ready to face this challenge if arises at any phase of the project life cycle to accomplish the project on time. Delay in accomplishment is costly since no cash inflow is projected before the hotel is in operation. Therefore its highly recommended tracking, tracing and monitoring of all activities of the project life cycle and make necessary amendment if requires on time.

Turkey Economy :: essays research papers

Turkey’s economy has weathered some spectacular pratfalls in the past, with a major economic crisis in 2001 almost bringing the country to its knees. What’s different in 2004 from the previous "recoveries" is how committed Turkey is to establishing firm economic footing once and for all. The government is swallowing the International Monetary Fund’s painful economic medicine, making tough choices for fiscal discipline. Turkey’s financial wunderkind, the 37-year old Minister of State for Treasury Ali Babacan credits a strong, popular and unified government with having both the clout in Ankara and the backing of the people to administer badly-needed shock therapy. "During the last decade, stability has been a problem," Babacan concedes. "We had coalition governments and [frequent] early elections. "But after the 2002 elections," which ushered his faintly Islamic yet pro-Western Justice and Development Party to power under Prime Minister R. Tayyip Erdogan, "we have a stable government, one the people have confidence in, which provides a much-needed base for economic recovery." Erdogan came to Ankara under heavy suspicion due to his past in radical Islamist politics. But as mayor of ungovernable Istanbul he won grudging praise from political opponents for his hard work on civic issues and muted Islamic rhetoric. As Prime Minister he has focused on bread-and-butter issues, leading with gusto the country’s drive to join the European Union. Indeed, the JDP’s acceptance of fiscal reform and pro-EU stance has rebuilt confidence in Turkey’s ability to manage its finances once the IMF decamps. "Our economic program was declared in detail before the election," Babacan, a graduate of the Kellogg School of Management notes. "We’re doing what we promised." It was only during the 1980s that Turkey ditched its closed command-economy, replete with Soviet-style Five Year Plans and huge state-run monopolies. The result was a roller-coaster of boom and bust, with hyperinflation and a Wholesale Price Index at 160% by the end of 1995 and a Nominal Interest Rate of 320% at one point. Such shenanigans were offset by production in overdrive – growth through the turbulent ‘90s averaged 5% per year. But in the late ‘90s the Asian crises and the collapse of the Russian economy cost Turkey valuable export markets. Foreign exchange sought calmer waters, leaving the government to resort to offering 140% interest on its T-bills to finance its deficit. Annual inflation ran at a Weimaresque 102%. The IMF stepped in with a three-year stabilization program and a $4 billion jump start.

How Effective is “The F Word”?

When having a baby one of the most difficult parts of the process is deciding on a name for the little one. Parents want to be careful in choosing, no one wants there child picked on or treated unfairly because of a name they have chosen. In the article â€Å"The F Word† the author, Firoozeh Dumas expresses her thoughts and feelings about coming from Abadan, Iran to America with her native name. She explains how her name that has much meaning in her country was nothing but a hindrance for her trying to get established in this country.In the â€Å"F Word† the author uses contrast between names in America and names in her home land to show the effectiveness of this article. â€Å"How could our parents have ever imagined that someday we would end up in a country were monosyllabic names reign supreme, a land where â€Å"William† is shorten to â€Å"Bill†, where â€Å"Susan† becomes â€Å"Sue†, and â€Å"Richard† somehow evolves into †Å"Dick† ( Dumas751). Here the author uses logos to make the reader think, why is it that we call â€Å"William† by the short name of â€Å"Bill†? It’s a logical question, the audience may want to know the answer to.It makes one wonder, do the names in this country have any meaning or are we just trying to make things as simple as possible. If simple is what we, as Americans are after, is that why we don’t like to pick acentric names for our children? In terms of ethos, the author effectively tells how she researched her idea by adopting a new simpler name â€Å"Julie†. â€Å"People actually remembered my name, which was an entirely refreshing new sensation. All was well until the Iranian Revolution, when I found myself with a new set of problems.Because I spoke English without an accent and was known as Julie, people assumed I was American . This meant that was often privy to those real feelings about those, damn Iranians† (Dumas 753). The authors says later she went back to using her native name because she felt like a fake. Eventually, Firoozeh went back to the name Julie after college when she could not obtain a job. This is where the author begins to use emotional appeal to her argument. Dumas says, â€Å"Once I changed my name on my resume call it coincidence, but the job offers started coming in.Perhaps it’s the same kind of coincidence that stops an African American from getting a cab in New York† (Dumas 753). That’s very strong statement on the authors part because most people associate African Americans not being able to hale a cab as a racial issue. That is an issue that would make a lot of people upset and generates plenty of emotion, thus this is a very effective use of pathos. This article was written for an audience of Americans. In the author’s argument it was her name that really caused her a problem when she came to America.She did a good job of adding the pathos, etho s, and logos in her article to draw the audience in to how life was for her in a new country with such a unique name. The article also tells the audience how something as simple as a name could be viewed as a form of racism. Americans’ should show enough respect and courtesy to try and understand ones heritage. Everyone knows at least one person who has been discriminated against. The author now uses her native name and is comfortable in doing so.

Internet Security1 essays

Internet Security1 essays The Internet has become a greater medium of communication, data exchange, and entertainment over the past 5 years. With this widespread growth of Internet access, there come growing pains. These growing pains come in the form of people who are up to no good and want to ruin everybody elses experience on the net. High-speed connections also make it a very easy way for hackers to attack your pc in your daily life. In this report, I will discuss the types of Internet connections that are commonly used by consumers. I will also talk about the kinds of hackers that are out there. Each hacker has his or her own reason for doing it and by knowing that, prevention can be made simpler. I will discuss the types of Internet security programs that are available to everyday users. There are also hardware devices that arent as common in the home, but I will discuss their importance also. Finally, I will tell you how easily these programs can be implemented. I. Types of internet connections b. Permanent "all-the-time" connections c. Out-for-fun, harmless hackers b. Turning off PCs when not in use The Internet was a very unknown term to people ten years ago. This new information superhighway was reserved only to those who had the income or the need for data exchange between corporate locations. In the mid 1990s, companies like America Online and Prodigy created a easy connection to the Internet. These connections were called dial-up connection. They made use of a modem connected to your pc and by using your phone line, connected you to their services. In this early age of dial-up connections, the availability and ease for people to obtain access to your information was enormous. Bank records, shopping habits, and credit card information became common ground for people who hacked into personal computers. As the Internet spread to locally owned ISPs, or Interne...

mis essays

mis essays Let's face it, in today's world we are using computers more and more. The growth of accessibility to the Internet has given us a brand new definition to connectivity, thus exponentially widening the wealth of information at our fingertips. Those of us who are computer and Internet users have experienced this rapid growth, yet many users do not understand some the "trade-offs" that have been made to bring this level of user-friendly technology to desk-tops all over the world. It's just so easy. Buy it, bring it home, plug it in, insert a disk, and your on the Internet. From the users perspective this is an incredible leap in the right direction. However, from a business point of view we must be very cautious. Due to the numbers of business who are involved in the production of computers and the fact that Microsoft has been not only a corner stone in development, but a household name since the very beginning, creates a potentially hazardous business environment. This has been t he topic for many heated debates. The main question Microsoft has been confronted with is weather or not they have created a monopoly or merely experienced a large market share and a competitive advantage stemming from their dedication to provide more efficient systems. Historically, the United States has set a precedent to penalize companies who demonstrated monopolistic actions. In the Sherman and Clayton Anti-Trust Acts, the United States officially made monopolies against the law. However, companies like AT The reason why Microsoft is currently under investigation is a result of some of the following ideas and events: Ø Users have extremely limited operating systems that are compatible with existing hardware and the only operating system in ...

Accountancy Assignment Example | Topics and Well Written Essays - 500 words

Accountancy - Assignment Example The AICPA, American Institute of Certified Public Accountants, is an earlier body, founded in 1887. Its distribution involves 128 countries all over the globe and associates in a variety of disciplines such as student affiliates, education, government, public practice, and international associates among others. Hence, this diversity functions as a credible source for accounting information. In the US, the AICPA sets the auditing and ethical standards for private, public, and non-profit organizations. Its mission is to provide sufficient resources, data, and leadership that enables accountants to give quality services in the highest professional manner for the benefit of the public, clients, and employers. The AICPA and ACCA are all members of the IFAC, International Federation of Accountants. The latter is a global body that develops high-quality guidance and standards concerning accounting professionals. It is made up of 173 associates and members in 129 countries, representing about two and a half million accountants in government service, public practice, commerce, education, and industry. However, the AICPA is the most well-known body in the United States (Dohr, 1947). The Financial Accounting Standards Board (FASB) is also a major standard-setting organization that among other things govern the work done by accountants. Other than this, the FASB is an authoritative source and mentor in the accounting discipline. However, unlike the ACCA and the AICPA, it establishes the accounting standards for private entities.

Entrepreneurship and UK's Economic Recovery and Growth Essay

Entrepreneurship and UK's Economic Recovery and Growth - Essay Example The private sector has been turned with the express aim of replacing the employment opportunities that have been surrendered in the public service due to job cuts and for the emphasis on starting up of businesses in order to create jobs rather than lose them. Entrepreneurship is indeed the answer to the United Kingdom’s economic recovery and growth. For many a decade, British sociologists have been puzzled by entrepreneurship values atavistic persistence and about the aspirations of the labour force. This is despite the decrease in return on investment of entrepreneurial role and the dwindling numbers of new entrepreneurs in the UK. Given the laissez-faire traditions of the United Kingdom as far as business is concerned, entrepreneurial ambition is easier to understand as residual of the culture of the by-gone economic era. Max Webber, who founded the entrepreneurship research, has laid claim to the fact that Puritan theology once encouraged all its believers to adopt the role of the entrepreneur and define anew the content of the role. As a result, European form of capitalism, including the United Kingdom’s, was given a stimulus which gave it the chance to move its focus the restraints of guild traditionalism, which had earlier frustrated the development of capitalism in other regions of the world. Webber was able to identify a significantly causal form of entrepreneurship since he linked a determinant that was not economic, theology, to entrepreneurial supply. Webber was also of the belief that huge bureaucratic organizations were the future model of business (Soe, 2009 p88). This particular view can be construed as anti-entrepreneurial since most of these mammoth organizations are not in need of many entrepreneurs. His supposition that the twentieth century’s victorious capitalism did not need the support of any kind of religious asceticism was also significant at the time. His work tried to imply that capitalism, which could be consider ed mature, was reliant, upon, signals from the market that could be relied upon to provide entrepreneurs needed from a materialistic idealized population. This would result in the provision of entrepreneurs by the market, which was in place to replace the role of the wider society in providing these entrepreneurs. Webber’s vision took the presumption that capitalism had matured enough and had moulded a crucial labour force where there was cultural enshrinement and legitimization of entrepreneurship (Soe, 2009 p65). In the wake of this shift in culture in the United Kingdom, entrepreneurship has become an elastic, fungible, and inexhaustible commodity of labour. He concluded that entrepreneurship had lost the connection it historically had to supply sources that were of a non-economic nature, and, therefore, had lost its significance causally. Schumpeter expressed the theory that entrepreneurship can be distinguished from economic innovation by treating entrepreneurship as one of the ways via which economic innovation can occur (Soe, 2009 p89). He supposed that professionally managed, large, and corporately organized firms had the impetus to replace owner-operated small firms as the industrial combination that was dominant in societies with advanced markets. However, management of giant corporations would take the duties of entrepreneurship. Professional managers thus would take over the tasks of entrepreneurs in plan execution, risk evaluation, and innovation planning. Karl Marx who was uninterested in