Monday, September 30, 2019
E. Goldson, (2010) wrote a valedictorian address, Ã¢â¬Å"Here I StandÃ¢â¬ , a speech dedicated to explain that too much concentration and effort towards memorization and following directions can hinder or distract creativity and the general learning processes.. Goldson describes the educational experience as an uneventful routine Goldson (2010) stated, Ã¢â¬Å"Perhaps, you only learned how to memorize names, places and dates to later on forget in order to clear your mind for the next test. School is not all that it can be.Ã¢â¬ Goldson (2010) moves on with her speech belittling her own accomplishments by stating, Ã¢â¬Å"I cannot say that I am any more intelligent than my peers. I can attest that I am only the best at doing what I am told and working the system.Ã¢â¬ There has to be more to life than a dull routine of going to school, following all directions, and then preparing to work. This sort of depressing picture is usually painted by a negative attitude. However, Goldson proves to have a superior attitude in order for her to gain the position of being top of her class. Goldson shows real talent in her creative writing, unless someone else wrote this speech for her. She must have a more probable reason to belittle her own achievements. One trap some teenagers of high school fall into is displaying a vain or conceited demeanor. Goldson most probably wanted to gain respect from her audience by presenting a humble tone to avoid being accused of thinking of herself as being better than everyone else. Also, most high school students love to show contempt once in a while just to have an outlet of the stress associated with a high school crowded with students many of whom do not want to be there.. This speech definitely shows rebelliousness against the structure of our education system. This criticism of our educational system appeals to the rebel student in her audience. Who can deny that the system is not perfect and that there is always room for improvement? However, GoldsonÃ¢â¬â¢s speech does not offer any solutions to help improve the system. She does not appreciate her own writing skills, reading comprehension, math abilities and good memory. All of these attributes Goldson gained by following directions and doing extra credit can actually enhance new ideas, inspire creativity and open many opportunities. Think of all the scholarships Goldson could take advantage of. Her grades alone qualify her for the most prestigious universities. The only reference Goldson (2010) used to back up her claim was a hypothetical conversation between a Zen student and master. There is no proof this conversation took place, and so it is most likely to be fictitious. The simple truth of the matter remains; that several highly educated people have proven that GodsonÃ¢â¬â¢s argument is outright weak. People in real life have proven beyond any doubt that education does now, and has in the past; inspired new ideas. John F. Kennedy, for example, graduated from Choate (high school) in 1935. He graduated Harvard University in 1940. Martin Luther King Jr. shows tremendous credit to Yonge Street Elementary School, and Booker T. Washington High School: because of his high score on the college entrance examinations in his junior year of high school, he advanced to Morehouse College without formal graduation from Booker T. Washington. Having skipped both the ninth and twelfth grades, Dr. King entered Morehouse at the age of fifteen. From there he then received his Bachelor of Arts degree from Morehouse College in 1948 at age 19 and his Bachelor of Divinity degree in 1951 from Crozer Theological Seminary and Ph.D. from Boston University in 1955. Goldson failed to recognize the opportunities she had well earned from her experience in Athens high school. It was most likely due to her low esteem that Goldson failed to recogonize the skills and abilities learned from her hard work and dedication in Athens High School. She did, after all, bring discredit to achieving the top of her own class of 2010. References Goldson E. (2010, June 25) Here I Stand Retrieved from: http://laborenglishzone.blogspot.com/2013/07/here-i-stand-graduation-speech-by-erica.html
In preparing to write my drama-analysis research paper, I encountered a wealth of information regarding my topic: The Pursuit of Happyness, a film which I believe demonstrates a return to Ã¢â¬Å"classicÃ¢â¬ movie-making and also a return to film as inspiration rather than lamentation. In my essay, I argued that, despite certain flaws and tendencies to revision historical relaity, The Pursuit of Happyness is a great film , and potentially one of the most important American films. Arriving at this conclusion was a long and interesting road, which was partially established by the research and writing of the paper itself. However, I felt determining my opinions and reinforcing them with information from my research materials was much easier than organizing the paper and expressing my opinions in solid, correctly constructed writing. One approach that I thought would be workable, but which proved to be merely frustrating, was to draw primarily from my own experience and opinions about movies. In my original intention for the paper, I had imagined that I would contrast The Pursuit of Happyness with other films I had seen and contrast, also, the way these various movies made me feel and also what I may have thought about their technical aspects. When I tried to use these kinds of comparisons in the actual research paper, I felt like what had been so obvious to me, as a subjective movie viewer, would be very hard for others to identify with, unless I expended a tremendous amount of space and energy to explain my personal tastes and opinions. What seemed to work better than the inclusion of my extended opinions was the citation of otehrsÃ¢â¬â¢ opinions. There seemed to be two advantages in citing material which supported my opinions rather than merely offering my opinions themselves. the first advantage was that i found certain writers expressed my thoughts and ideas just as I would have liked to express them myself. However, because the writers of the articles and essays I cited were professionals, their words were much more succinct and precise than some of my own attempts at saying the same thing. The second benefit of using cited materials was that some of the opinions I cited were, in fact, slightly different Ã¢â¬Å"takesÃ¢â¬ on opinions of mine, and I donÃ¢â¬â¢t think i would have necessarily come to understand these slight variations without having done the research. So, rather than merely supporting my opinions, the research materials actually modified my opinions and sometimes reinforced them very nicely. I felt more confident and determined in my own thesis because I knew authoritative writers from The Wall Street Journal and other professional publications supported some of my views. The only real obstacle I faced with research was whittling down the enormous amount of available information. I think the Internet has made it easier to conduct wide-ranging research quickly, but that in itself makes it much more difficult to sift through all of the available information and pinpoint what will be useful in support of the research paper in question and its thesis. Defining my thesis itself was also challenging. The more I thought about stating my argument simply and directly in a single sentence or a couple of sentences, the less the whole idea seemed meaningful at all. I learned as I continued to work at defining my thesis that it is important to get everything set in a single direction. IÃ¢â¬â¢m not sure if I was actually successful in presenting a sharp, simple thesis, but I tried very hard, Essentially, I wanted to show that The Pursuit of Happyness is a good film and one which also returns film-making to a role which it has steadily abandoned over the years in America: that of inspiring people. I believed that the thesis statement is true and feel it is true,. but I found that making my points in writing and spelling them out logically, as well as addressing counter-arguments forced me to reconsider my solidly constructed beliefs. Even though my overall opinions did not change very much, my respect for the logical formation of written arguments grew steadily as I worked on my own paper. Just as it is important to think simply in many way to secure a good thesis for a research paper, it seems important tow rite simply, as well. That is, I think it is important to stay on topic and make your argument point by point rather than digressing or getting too far off of track, no matter how tempting it is to launch into extra thoughts and associations. Even paragraph by paragraph, I think, all of the sentences should be necessary and feed into one another. I wasnÃ¢â¬â¢t as aware of this fact before spending time on the drama-analysis research paper. In addition to learning valuable steps and techniques for writing and thinking, the process of writing the paper caused me to re-examine the methods or logic by which I arrive at my opinions in the first place. I think that;s the most important thing I leaned in composing my research paper: that the logic and Ã¢â¬Å"formalÃ¢â¬ thought that goes into writing a good research paper differs widely from the Ã¢â¬Å"looserÃ¢â¬ thoughts and associations which typically help define at least my own subjective opinions. IÃ¢â¬â¢m not sure IO was aware of just how different my Ã¢â¬Å"everydayÃ¢â¬ thoughts and logic were from those which are necessary to present a clear, convincing argument which is backed up by solid evidence. In the long run, I feel certain that I could now make, as a consequence of my experience in writing the research paper, a much stronger argument on behalf of my original opinions.
Saturday, September 28, 2019
The presented text is a summary biography of Archimedes of Syracuse. Known as one of the greatest mathematician, scientist, and inventor; ArchimedesÃ¢â¬â¢ notoriety has been maintained over centuries by the scientific discoveries and technological inventions he brought during his lifetime. This text relates of his many accomplishments in a semi-chronological order, in attempting to retrace the marking facts of ArchimedesÃ¢â¬â¢ life. Archimedes was born in 287BC in Syracuse, Sicily. He was the son of astronomer Phidias (Crystalinks, 2008). Presently, there is no information specifying of the work accomplished by Phidias.Similarly, there is little detailed information concerning Archimedes life as a child and adolescent. According to history, Heracliedes wrote a biography of Archimedes which is subjected to have had detailed information about various aspects of Archimedes private life. Unfortunately, the biography was destroyed and many aspects of Archimedes personal were lost in t he process. It seems that the span of the years has erased the memories of his childhood upbringing. In fact so little is known of his personal life, that there exists no specifics on his coupled life. Whether he had a wife and children remains unknown to the present day.In comparison, his professional adult life has been studied and retraced century after century, relating of his incredible prowess with Mathematics, and of its unusual genius for technological inventions; some of which are still being used today, two millennia after his death. Historical texts mention his relation to King Hiero II, then the King of Syracuse and presumed uncle of Archimedes (Crystalinks, 2008). The validity of this relation to the Royal Family of Syracuse comes again and again in writings concerning Archimedes, and the few elements of his young adult life seem to confirm his privileged ranking in Syracusian society.In fact, Archimedes was schooled in Alexandria, Egypt where he traveled to as a teenag er to study mathematics (University of St Andrews, 1999). The many counts of his spectacular professional life as a mathematician, scientist, and inventor seem to retrace an origin to that period of his life. Certainly the ability to pursue university study confirms of his family ties to the Aristocratic society of Syracuse. He would later in his life collaborate closely with King Hiero II to come up with inventions to prevent Roman invasion of Syracuse.Some of those inventions of warfare are reviewed in further detail in the portion of this text dedicated to Archimedes technological inventions and innovations. Archimedes began study in Alexandria at the age of 18. He was then brought to study mathematics along with Conon of Samos, and Eratosthenes (Crystalinks, 2008). As a scholar in Alexandria, he was allowed to study both the theoretical and practical aspects of science and technology, that he often retransmitted back to Greece via letters of correspondence he wrote. It is believ ed that Archimedes spent five to six years in Alexandria at study.There are no other accounts during the life of Archimedes where he would have spent a comparable amount of time being educated in the formal sense. Following his study, he returned to Syracuse to become one of the most prolific scientist and inventors known to mankind. History tells that Archimedes invented the Archimedes screw while at study in Alexandria. The famous screw used to carry water from a low lying position to a higher position would found many useful applications and is presently used in modern day sewage plants. An amazing feat indeed.His ingenuity continued after he returned home to Syracuse, and was fueled by the desire to find adequate solutions in order to protect the city from Roman invasion. In fact, often under the demand of the King, he undertook and completed several inventions targeted at warfare. For so doing, he used mechanisms of destruction and others of dissuasion that proved efficient as they held the roman invader, General Marcus Claudius Marcellus, from entering the city of Syracuse for two consecutive years. Archimedes died in 212BC, while Syracuse was under siege by the Roman invaders.The story tells that he was killed by a roman soldier during the attack of Syracuse (Crystalinks, 2008). His mathematical Genius Archimedes of Syracuse is particularly known the world over for his stunning ability with mathematics, and in particular with geometry. In this section of the biography, we are to retrace the most important theorems he came up with, and relate of his most impressive scientific discoveries. On the contrary to most mathematicians, Archimedes mathematical inspirations often came from his work on Mechanics, thereby suggesting of an influence he brought to mathematics by making hypothesis based in the practical world.This is a very interesting practice which is peculiar and certainly differentiates his work from other mathematicians who mostly would come up wi th a mathematical theorem and then attempt to verify it in the physical world. Archimedes wrote extensively on his work, although most of his work vanished over the years. In particular, he wrote a treatise on mechanics and hydrostatics entitled the Ã¢â¬Å"Method Concerning Mechanical TheoremsÃ¢â¬ , which according to history often inspired his work as a mathematician. As he seemed to find his inspiration in the physical mechanical world, Archimedes excelled in the field of Geometry.One of his famous discoveries was in relation to the comparable volume of a sphere and that of a cylinder. Archimedes was able to prove that the volume of a sphere equaled two-thirds of the volume of a cylinder for which the height equaled the diameter of the sphere (University of St Andrews, 1999). Archimedes was so proud for having found that mathematical reality that he insisted on having it carve on his tomb. Although Archimedes is often thought of as more of an inventor than a mathematician, he pa rticipated in several key developments in mathematics.Archimedes often made use of infinitesimal sums to arrive at proving his hypotheses (Crystalinks, 2008). The method is often compared to modern day integral calculus which is very similar to the methods he employed then. One of his famous mathematical proofs was the approximation of Pi. Archimedes often used his ingenious notion of the mechanical world to arrive at more conclusive mathematical realities. In order to estimate the value of pi more accurately, he designed a circle. He placed a polygon on the outside and on the inside of the circle (University of Utah, 1999).As he would raise the number of sides of each polygon, he came closer and closer to having a circle; effectively made of a series of small and connecting distances. As he reached 96 sides for the inner and outer polygons, he measured them to obtain a higher and lower boundary limit of the approximation of Pi. Archimedes concluded from the experiment that the valu e of pi was contained between 3+1/7 and 3+10/71 (Crystalinks, 2008). A remarkable feat leading to an impressive conclusion, which we consider today one of the most important proofs of mathematics.The formula for the area of a circle is also attributed to Archimedes who came up with the fact that the area was equal to the square root of the radius of the circle multiplied by Pi. His interest for arriving at mathematical truths based on geometrical realities as we can perceived them in a multi-dimensional system, led him to prove more theorems often relating to infinite series or infinite sums. Archimedes is known for determining the equivalency of certain rational numbers by determining their infinite sum.A rational number differentiates itself from a whole number (an integer for instance), as it has an integer portion and a decimal portion. The infinite sum approximation is often used in mathematics today to estimate areas and volumes in two dimensional and three dimensional spaces primarily. The technique he employed in his infinitesimal related theorems are commonly called method of exhaustion in modern day mathematics (University of St Andrews, 1999). As impressive as his ability for arriving at mathematical reality was, it made even more physical sense when he applied it to the physical world in which we live.Many of Archimedes theories relating to physics are closely relating to the fields of geometry and physics in general. Often the geometrical mystique of an object would eventually lead to a physical mathematical reality of our world. It is seemingly in such proceeding that Archimedes came up with several theorems of mechanical nature. In fact, Archimedes discovered several theorems on the center of gravity of planes, and solids, and on the mathematical tools and methods to approximate those.It is interesting to mention that his work, whether in theory or practice was often commanded by the search of the infinite in the mundane reality of the finite. A rchimedes is known to have worked on the mathematical theories of spirals, where he helped to determine the mathematical formulation to describe spirals based on polar geometry. The work was compiled in a treatise called the Archimedean Spiral. The treatise describes in mathematical terms the function of a point moving away from a fixed coordinate at a constant speed and with constant angular velocity.The function described in the treatise corresponds to the geographical representation of a spiral, which in the treatise is the result of moving set of points in a given pattern, that of a spiral (University of St Andrews, 1999). Several of his written theoretical work came as correspondence letters, in particular to a person of the name of Dositheus, who was a student of Conon (Crystalinks, 2008). In some of his letters, Archimedes referred to the calculation of the area enclosed in a parabola and determined by a line secant to the parabolic curve.In the letters to Dositheus, Archimed es was able to prove that such area would equal to four thirds the area of an isosceles triangle having for base and height the magnitude of the intersecting line in the parabola. He arrived at the result using an infinite summation of the rational number one fourth. This particular mathematical demonstration would later prove invaluable in calculating the areas and volumes of various objects in using integral calculus, a modern form of Archimedes infinite expansion.One of his most famous scientific discoveries relates to the buoyancy effect of a liquid on a given object: often referred to as ArchimedesÃ¢â¬â¢ principle. The principle explains that any body immersed in a fluid experiences a force of buoyancy which is equal to the magnitude of the equivalent gravitational force of the liquid displaced during immersion. In other words, Archimedes arrived at the reality that any object plunged in a liquid plentiful enough to maintain such object in equilibrium, would experiment a forc e in reality equal to the body of water displaced to maintain such equilibrium.There is a famous anecdote on how Archimedes came up with the physical theorem. Legend has it that it was during a bath that he came up with the concept for the buoyancy theorem. According to history, he came up with the answer to the buoyancy theorem in wanting to help his uncle, King Hiero II, to solve the Golden Crown Mystery. In fact, the story relates that the King, Hiero II, sent a certain amount of gold to his goldsmith to be made into a crown. When the crown returned from the goldsmith, the King apparently noticed that it was lighter than the presumed amount of gold that was given to the goldsmith.King Hiero II presented the dilemma to his nephew Archimedes of Syracuse, who supposedly came up with an answer to the problem that very night. The legend states that Archimedes came up with the buoyancy theorem by filling his bathtub to the top. When he entered the bath, a certain amount of water poured out of the bath. He later on realized that the mass of the amount of water dispersed from the bathtub was equivalent to the mass of his own body. From arriving at this discovery, the story claims that Archimedes ran the streets of Syracuse naked and screaming Ã¢â¬Å"EurekaÃ¢â¬ , which means Ã¢â¬Å"I have found itÃ¢â¬ .The next day he reiterated the experiment with the Golden Crown and the same amount of gold that was initially given to the goldsmith, when he was able to confirm King HieroÃ¢â¬â¢s assumption that not all the gold given to the goldsmith was used in making the Golden Crown (Andrews University, 1998). This amazingly simple proof carries one of the most important theoretical truths of physics. The principle of buoyancy is better known today as the Law of Hydrostatics, and is directly attributed to Archimedes of Syracuse.The above anecdote is a classic example of ArchimedesÃ¢â¬â¢ability to confront complex theoretical problems by transcribing them into practical l ife. A considerable number of his experiments and scientific theorems were similarly found through empirical and methodical practical proceedings. Archimedes Inventions As a keen mathematician, Archimedes was particularly talented in determining physical solutions to various problems encountered in his life. Often, the mechanical tools that he devised were a direct projection of a theorem he wanted to prove or vice versa. One of his most famous inventions was the Archimedes screw.Sometimes referred to as Archimedes water pump, the device was created by the Greek mathematician during his study in Alexandria. Archimedes screw is a machine made to pump water from a lower level to a higher level. In short, an ingenious method for carrying water over distances thereby apparently defeating the law of gravity. The screw is made of a cylindrical pipe angled at fourty five degrees and containing a helix. When the bottom end of the device is plunged into water and set to rotate, the helixÃ¢â ¬â¢s rotation carries water from the bottom end of the cylinder to the top end (Crystalinks, 2008).Archimedes according to historians, devised another form of the screw in a comparable yet dissimilar shape. In our day, the system is being used primarily in waste-water treatment plants to pump sewage waters. There is little account however on the applications for which the Archimedes screw may have served during Archimedes life, other than its use for irrigation of the Hanging Gardens of Babylon, and for removing water in the hull of ships. In fact, most counts of using the technique point to its modern day utilization.Other inventions brought by Archimedes received a considerable amount of attention, and found direct applications during his lifetime. From his close relationship with the King Hiero II, Archimedes was requested to build machines to keep the Roman assailant at bay. Archimedes successfully created several weapons of war that held the Roman invader several years. Archim edes is in fact known for inventing the catapult for that purpose. The catapult is a device based on the principle of the lever, which is capable of carrying an object several times its weight.When the catapult is fired, the object Ã¢â¬Å"fliesÃ¢â¬ in describing a parabolic curve, prior to hitting its target. The catapult was often used during warfare as a defensive method to protect a territory from invaders. He would later on be used as on offensive weapon for attacking protected areas or castles. The catapult can be assimilated as the early form of a canon, which solely relied on mechanical means to operate. The device served Syracuse of Sicily well during the Punic wars of Rome vs. Carthage. Archimedes, at the KingÃ¢â¬â¢s request, created several weapons to defend the city (Biography Shelf, 2008).Among such weapons were the catapult, the crossbow, and the claw; which could be used to cover several ranges. These various methods of defense allowed Archimedes to keep the Roman assailants at shore for two long years, according to historical reports. Archimedes also came up with the Archimedes ray, a device which was created to set invading ships on fire at a large distance. The device is made up of several mirrors forming a parabolic shape where the rays are reflected to subsequently interfere at a point which can be considered the focus of the parabolic shape.By aligning the mirrors adequately, it was then feasible to set ships on fire by focusing light reflected from the mirrors directly onto the ships. However, not all of Archimedes inventions were meant for warfare. The Greek mathematician and inventor came up with several devices to assist sailors to carry large objects from the water. Most of those devices operated based on the principle of the lever that was also used in the conception of the catapult. Off all of his work both in theory and in practice, only his writing remained to this day.In fact several of his correspondence letters were compile d into a repository of treatise commonly called the Archimedean Palimpsest (Cryslalinks 2008). According to ancient history, a palimpsest is a literal compilation of writings that were transcribed onto parchments and contained several layers of text on a given page. It seems evident to modern day historians and archeologists that the multiple writings on a single page indicated that parchment were expensive and hard to come by, and thus demanded that the author writes several times on the same page in order to conserve the precious parchment.The Archimedean palimpsest was made of the following treatises: 1- On the Equilibrium of Planes The treatise was focused on the principle of the lever and its various applications. The document describes how the principle of the lever can be applied to the calculation of the center of gravity of various bodies including parabola, hemispheres, and triangles. 2- On spirals The treatise Ã¢â¬Å"On SpiralsÃ¢â¬ describes the mathematical function o f point moving in a curvilinear direction in a three dimensional setting. The work is better known under the appellation of the Archimedean Spiral. 3- On the Sphere and the CylinderThe treatise describes the mathematical derivation on the relationship between a given sphere and a cylinder having for height the diameter of the sphere. Archimedes was able to mathematically prove that in that very context, the volume of the sphere equaled two thirds to that of the cylinder. 4- On Conoids and Spheroids In this treatise, Archimedes demonstrates how to calculate the areas and volumes of conical sections, spherical sections, and parabolic sections. 5- On Floating Bodies Probably one of the most famous works of Archimedes, the Ã¢â¬Å"On Floating BodiesÃ¢â¬ treatise describes the theorem of equilibrium of fluidic materials.In this document, Archimedes proved that a body of water would take a spherical form around a given center of gravity. In the second volume of the treatise, he describe s the equilibrium states of parabolic sections partially immersed in a body of water. 6- The Quadrature of the Parabola This treatise corresponds to the mathematical derivation that the area made by the intersection of a line with a parabola equals four thirds of a triangle having a base and height both equal to the segment of the line intersecting the parabola. 7- StomachionThe treatise describes a problem in which Archimedes attempted to estimate the number of strips of paper of various shapes and quantities that would be necessary to reconstruct a square. The method is said to be an early version of the field of combinatorics. The Archimedean palimpsest was conserved over two millennia, and his now conserved at the Walters Art Museum in Baltimore, MD. It is the only remaining work directly written by Archimedes himself to be existing today. Unlike the mathematicianÃ¢â¬â¢s writings which were compiled in the Archimedean palimpsest, there are apparently no remains or originals of his practical inventions.The Archimedean palimpsest is direct testimony of ArchimedesÃ¢â¬â¢ inclination for mathematical prowess, in particular when it concerned geometry. Most of his work that was conserved in the redaction of the palimpsest describes some very important rules and theorems for Mathematics. Among those, the approximation of pi and the use of the method of exhaustion to estimate areas, volumes, and surface areas of solids of varying forms were key elements leading to modern day mathematical practice.Some of his inventions are in use today, yet his name is most often associated in our era with the buoyancy theorem also known as ArchimedeÃ¢â¬â¢s Principle. References Andrews University, 1998, Biographies of Mathematicians Ã¢â¬â Archimedes, website available at http://www. andrews. edu/~calkins/math/biograph/bioarch. htm Biography Shelf, 2008, Short Biography of Archimedes, website available at http://www. biographyshelf. com/archimedes_biography. html Crystalin ks, 2008, Archimedes, Biographical Sketch of the Mathematician, available at http://www.crystalinks. com/archimedes. html Trebuchetstore, 2008, Archimedes: A biography, website available at http://www. redstoneprojects. com/trebuchetstore/archimedes_1. html University of St Andrews, 1999, Archimedes of Syracuse, School of Mathematics and Statistics, available at http://www-groups. dcs. st-and. ac. uk/~history/Biographies/Archimedes. html University of Utah, 1999, Archimedes and the Computation of Pi, website available at http://www. math. utah. edu/~alfeld/Archimedes/Archimedes. html
Friday, September 27, 2019
Physical Chemistry - Essay Example This motivated John Dalton to study what makes different reactions unique. John Dalton, in his childhood years was educated by his father, and a man who managed a private school, called John Fletcher. He gained a wide understanding of science from the unofficial tutoring byÃ John Gough. At age 27 he was appointed to teach mathematics andÃ natural philosophyÃ at theÃ New CollegeÃ where he taught for 7 years (Emery, 1988). Dalton formulated the theory after carrying out experiments into the behaviour of various gases. These experiments were based on 2 laws. The first was the law ofÃ conservation of mass (by Antoine Lavoisier) that posits that the overall mass in a chemical process does not change (Dial, et al., 2009). The next law was theÃ law of definite proportions (by Joseph Proust) that posits that when a compound is stripped into its basic elements the masses of the basic elements will have similar quantities, irrespective of the amount of the original material. As a follow-up to the experiment conducted by Proust on oxides of tin, John Dalton conducted the same experiment on the oxides of tin. He also experimented with water and how it absorbed carbon dioxide and nitrogen. Dalton also started the study of various atomic weights depending on the combinations of the mass proportions, while taking the hydrogen atom as the base standard.Ã From the laws Dalton established theÃ law of multiple proportions that posits that when 2 chemical elements combine to produce more than one likely compound then the proportion of the second elementÃ¢â¬â¢s mass that joined with a specific mass of the first element will be represented as proportions of whole numbers (Niaz, 2001). The results of this laid the foundation for DaltonÃ¢â¬â¢s Atomic Laws. These are made up of five theorems. The first theorem posits that an element, in its unmixed state, is made up of particles referred to as atoms. The second posits that all the atoms in
Thursday, September 26, 2019
Wal-Mart to open new Super center in Tarpon Springs, Florida - Essay Example Wal-Mart has been one of the most profitable companies in the world, yet a growing movement among local citizens and leaders could cost the company valuable time, extensive legal fees, and a potential boycott among the locals in this traditional small city. Despite working with local and state officials in acquiring the proper zoning and building permits, Wal-Mart has faced an unexpected obstacle. Known as the U.S. base for the Greek-Orthodox religion, and a quaint area known for its exquisite sponges, traditional sponge-divers, and small Greek shops and restaurant, Tarpon Springs has amassed a unique culture. So, when Wal-Mart announced in 2004, that it was opening a Super center, opponents lined up to try to stop it. Armed with a piece of restrictive growth legislation titled "Statute 163," the non-profit citizens' group, Concerned Citizens, has raised tens of thousands of dollars to block the expansion. By February 1, 2006 this group has spent over $100,000 in legal expensesiii. Headed by the umbrellas organization, Friends of the Anclote River, and founders, Helen and William Gladwin, citizens' groups continue to fight and have placed the Tarpon Springs City Council in an uncomfortable positioniv.
Miracles of Jesus - Essay Example He instructed the servants to get six pots of water and when they poured the pots out, it was transformed into a very high quality of wine. So to save the face of the guests there, Jesus turned the water into wine. This showed that he had extraordinary powers and can perform miracles as only God can change one substance into another. The immediate result of this was that the disciples started believing in him. Thus Jesus power over creation in past and future times as deity was manifested to the humans (Guided Bible Studies, King James Bible - John 2:1-25 n.d.). 2. The second sign of miracle performed by Jesus was the healing of the noble manÃ¢â¬â¢s son. The son was very ill and was near death when the man went to Jesus to ask him to heal his son. He was a high official and therefore by healing his son the credibility of Jesus as being sent by God enhanced even further. Jesus had spoken the words of healing without even meeting the son and this showed the power of his healing over space (Towns 2002, xiii). This showed that God was not limited by space and so isnÃ¢â¬â¢t Jesus as he holds the nature of power (Guided Bible Studies, King James Bible - John 4:1-54 n.d.). 3. The third miracle performed by Jesus was that of the healing of a lame. Man. The person was paralyzed for a lot of years, in fact for 38 years and because Jesus was full of love and compassion he healed the man. The person had laid by the pool at the sheep market for many years and slowly his faith and hope was fading away. Another reason was that the person was losing hope and therefore to renew his hope and trust in God he healed him. This miracle showed the power of Jesus and his deity was restored as he chose the timing for the deliverance of his powers (Guided Bible Studies, King James Bible - John 5:1-47 n.d.). This also exemplified the power given to him by God. The deity was shown by him doing no one else would have done (McFarland 2008). 4. The fourth miracle performed by Jesus was t he feeding of 5000 people. Since the power of JesusÃ¢â¬â¢ healing was becoming well known and therefore people now gathered at the place where Jesus was present to speak on the eve of the Passover. Jesus asked from where the bread could be taken and he was given only five loaves of bread and two fish. He asked his servants to serve the bread to the people present there and thanked the god. By miracle all the people ate as much as they could and after everyone left Jesus asked his servants to collect the leftover pieces so that nothing is lost. When his servants collected the leftover pieces 12 baskets were full (Guided Bible Studies, King James Bible - John 6:1-71 n.d.). This miracle showed the power over food. After this incident a lot of people started believing in Jesus as a Ã¢â¬Å"prophetÃ¢â¬ and that he was a wonder to the people. A deeper meaning of this symbol is that food here not only represents the physical thing that is used to feed humans but is also talking about t hat spiritual food that feeds the soul of the person and that none could remain hungry in the presence of Jesus (Signs and Miracles in John n.d.). 5. The fifth miracle that was performed by Jesus Christ that eventually affected his deity was that he walked on the water in a sea storm. The disciples were going on a ship into sea whereas Jesus had gone over to the mountain but at night they got caught up in a night storm and they saw Jesus coming towards them by walking in the sea. They got fearful but then
Wednesday, September 25, 2019
Bank Failure - Case Study Example This however, also led to the fact that banks and other financial institutions started to take on more liberty due to this financial liberalization. The removal of restrictions on capital flows allowed banks to invest into cross border projects thus assuming more risks but also allowed them to indulge into banking practices which were more risky for the overall health of the financial institutions. The subprime mortgage market failure however, forced many experts including Prof. Susan M Wachter to conclude that the subprime mortgage failure will be much worse than the expectations held by most of the market participants. (Knowledge@Wharton). Evidence indicate that the literature comprehensively provided an insight into what may actually happen due to the lending policies adapted by the banks and other financial institutions and as such if such practices continue, it may be difficult for the financial system to sustain the increasing pressures from speculative activities in which banks and financial institutions have engaged themselves into. ... ning for the developing countries however, the current financial crisis and resulting insolvencies of banks like Lehman Brothers is an ample example of how the financial system of developed world can bear the heavy cost of bank insolvencies also. This paper will discuss some of the evidence and predictions that were presented in the literature published prior to the crises and will specially focus on literature published prior to 2003. Bank Failure Caprio G & Klingbiel D (1996) is of the view that the bank insolvencies have increased since 1970s and as such the losses are significant as compared to the losses that were incurred due to such bank insolvencies prior to such episodes. What is however, significant to note that such bank insolvencies clearly indicate the misallocation of resources as banks failed to identify and book profitable projects which can self generate the cash flows to repay the loans taken against them. (Caprio and Klingebiel). This analysis captures the real practices of the banks which continued in the 21st century also where banks continue to lend into those areas which were significantly more risky hence more deterimental to the overall health of the financial system. The lending into subprime mortgage market is just one example of imprudent lending practices adapted by the banks in order to achieve higher profitability targets with a very limited and short term horizon. What is also significant to understand that there was a systematic shift towards achieving the short term results as compared to ensuring long term insolvency of the banking institutions. Another analysis by Caprio G & Klingbiel D (1996) indicating that the worst affected of the crises would be Japan and other developing countries such as Argentine and Chile. (Caprio and
Tuesday, September 24, 2019
Landmark - Case Study Example The difficulty of this issue is illustrated in the aforementioned case where Article 3 of the HRA was invoked. According to Article 3 of the HRA, "[s]o far as possible to do so, primary legislations and secondary legislation should be read and given effect in a way which is compatible with Convention rights" (HRA 1998, Art 3), referring to the European Convention on Human Rights and Fundamental Freedoms. By virtue of this provision, the conventional manner that statutory interpretation under the act, is therefore challenged, such that instead of giving effect to the intention of the legislators, which enacted particular statutes; statutory interpretation must now proceed in a manner that gives effect to the original intent of those who crafted the HRA provision. This shift away from the conventional procedure, therefore leads judges to stray in the grey area between judicial interpretation and law making, which endangers them of judicial vandalism and usurpation Parliament's will. ... In Ghaidan v Godin-Mendoza , the House of Lords dismissed an appeal by Ahmad Ghaidan to overturn a previous decision of the Court of Appeal; which named Juan Godin-Mendoza as successor to the tenancy of the flat Godin-Mendoza lived in until the death of his partner of the same sex by interpreting the words "as his or her wife or husband" under the Rent Act 1977 to mean "as if they were his wife or husband" by virtue of Art 3 of the HRA (Ghaidan v Godin-Mendoza , para. 51). The decision to dismiss the appeal was arrived at, by virtue of the judges' interpretation of Article 3 of the HRA, which was deemed appropriate in this case, with one dissenting opinion from Lord Millet (para. 102). Based on the given case, Lord Nicholls (para. 4) identified the relevant statutory provisions as paragraphs 2 and 3 of schedule 1 to the Rent Act 1977: 21. The surviving spouse (if any) of the original tenant, if residing in the dwelling-house immediately before the death of the original tenant, shall after the death be the statutory tenant if and so long as he or she occupies the dwelling-house as his or her residence. 22. For the purposes of this paragraph, a person who was living with the original tenant as his or her wife or husband shall be treated as the spouse of the original tenant. 31. Where paragraph 2 above does not apply, but a person who was a member of the original tenant's family was residing with him in the dwelling-house at the time of and for the period of 2 years immediately before his death then, after his death, that person or if there is more than one such person such one of them as may be decided by agreement, or in default of agreement by
Monday, September 23, 2019
Religion and Science - Essay Example This is due to the fact that some scientists turn out to be religious and some religious leaders also are scientists. This paper provides critical comments regarding three different questions that comprise of controversy between science and theology. The first exercise concerns Copernicus theory, postulated by a great scientist called Copernicus. Copernicus was a University trained Catholic priest dedicated to astronomy (Russell 59). Ancient scientists, theologians and philosophers strived to explain how the world operates and how it came into existence. Copernicus was not an exceptional. He endeavored to explain planets and the sun are interrelated. According to the astronomical method developed by Copernicus, the sun is positioned at the center of the universe with the Earth and other planets revolving around it in circular paths modified by epicycles and at uniform speeds. The model postulated by Copernicus deviated from an earlier model, the Ptolemaic system that had prevailed in western countries for centuries that placed the earth at the center of the universe (Russell 92). Although the Copernicus theory could predict accurately the relative distance of the planets from the sun it could not produce more accurate predictions of planetary positions. It appeared not to agree with common sense and also contradict the bible. Basing, on theological, physical and astronomical perspectives some thinkers like Tycho Brahe, objected the idea by Copernicus of the earth moving. Probably that might have been the reason why theologians rejected Copernicus theory, even though Copernicus had dedicated his book to the Pope (Russell 79). Seen as a smart move, Copernicus bookÃ¢â¬â¢s publisher, Oisander, added a preface that seemed to shield Copernicus from any wrong doing .The publisher stated in the preface that the theory of the earthÃ¢â¬â¢s motion was put forward as theory and not as a conclusion suggesting it was the absolute truth. The approach
Sunday, September 22, 2019
Reward System And Its Impact On Employee Motivation Essay Social networking also referred to as social media. The growing usage of social media indicates a potentially effective new platform for advertisers. Social Media, today, is among the Ã¢â¬Ëbest opportunities availableÃ¢â¬â¢ to a brand for connecting with Prospective consumers. Social media is the medium to socialize. These new media win the trust of consumers by connecting with them at a deeper level. Social media marketing is the new mantra for several brands since early last year. Marketers are taking note of many different social media opportunities and beginning to implement new social initiatives at a higher rate than ever before. Social media marketing and the businesses that utilize it have become more sophisticated. One cannot afford to have no presence on the social channels if the competitor is making waves with its products and services. The explosion of social media phenomenon is as mind boggling as that and the pace at which it is growing is maddening. Global companies have recognized social media marketing as a potential marketing platform, utilized them with innovations to power their advertising campaign with social media marketing. - KEY WORDS: Social networking, Marketers, Socialize, Media SOCIAL NETWORKING Social networking, also referred to as social media, encompasses many Internet-based tools that make it easier for people to listen, interact, engage and collaborate with each other. Social networking platforms such as Face book, MySpace, YouTube, LinkedIn, Twitter, blogs, message boards, Wikipedia and countless others are catching on like wildfire. People use social networking to share recipes, photos, ideas and to keep friends updated on our lives. SOCIAL NETWORKING IN MARKETING Social media marketing refers to the process of gaining traffic or attention through social media sites. Social media itself is a catch-all term for sites that may provide radically different social actions. For instance, Twitter is a social site designed to let people share short messages or Ã¢â¬Å"updatesÃ¢â¬ with others. Face book, in contrast is a full-blown social networking site that allows for sharing updates, photos, joining events and a variety of other activities. ORIGINATION OF SOCIAL NETWORKING According to a BBC Radio 4 documentary, the origins of social networking can be traced back to the 1970s. While conducting research for the radio show, The Secret History of Social Networking, the BBCÃ¢â¬â¢s Technology Correspondent, Rory Cellan-Jones, found that in 1973 the owner of a record shop in Berkeley California placed an analogue computer in his store and invited people to come in and type messages. The computer quickly became a popular attraction, especially amongst University of California students who would come in to the store to post messages and take part in discussions on the analogue machine. One of the first social networking Web sites, launched in 1997, was SixDegrees. com. This site started the trend of enabling users to create personal profiles and make lists of their friends. Two years after the fall of Six Degrees, Live Journal offered authors options to add a list of friends to their profile page. Other early social networking sites include Friendster and online dateing service Ryze. MySpace launched in 2003. However, the site didnt start drawing the attention of the masses until well into 2004, due largely in part to MySpace changes that allowed teenagers to join the social network. Since their introduction, social networking sites (SNS) have attracted millions of users, whereby many people integrate these sites into their daily practices. The conception of Googlebuzz. com has been recently introduced to rival the likes of facebook, which has 350 million users. Here is a timeline to show the progress of the social networking world. 1995: Classmates. com is a social media website created by Randy Conrad. The website helps members find, connect and keep in touch with friends and acquaintances from school life. Classmates has more than 40 million active members in the US and Canada. In early 2008, Nielson Online ranked Classmates as number 3 in unique monthly visitors among social networking sites. 1997: Sixdegrees. com was named after the six degrees of separation concept and allowed users to list friends, family members and acquaintances and see their connection with any other user on the site. It was one of the first manifestations of a social networking websites in the format now seen today. Sixdegrees closed in 2007. At its height, the website had about a million users. 1999: Cyworld. com is a South Korean social networking service. Users can have Ã¢â¬Å"apartment likeÃ¢â¬ spaces which make for a sim-world like experience. The Ã¢â¬ËcyÃ¢â¬â¢ in Cyworld could stand for Cyber; however, it also plays on the Korean word for relationship. A 2005 survey showed that 25% of South Korea was users. 2002: Friendster. com has over 115 million registered users and over 61 million unique visitors per global month. Over 90% of friendsterÃ¢â¬â¢s traffic comes from Asia. The website is also used for dating, discovering new events, bands and hobbies. 2003: Myspace. com launched after eUniverse employees with Friendster saw its potential and mimicked the more popular features of the social networking site. Myspace became the most popular social networking site in US 2006. The 100th million account was created on August 9 2006. 2005: Bebo. com is an acronym for Ã¢â¬Å"blog early, blog oftenÃ¢â¬ . It is similar to other networking sites; the site must include two specific modules, a comment section and a list of usersÃ¢â¬â¢ friends. The site claims 40 million users. 2006: Facebook. com is the most popular social networking site boasting 350 million users. It was founded by Mark Zuckerberg who studied at Harvard University. The websites membership was initially limited by the founders to Harvard students, but was expanded to other colleges. Facebook has met with some controversy being blocked in countries such as, China, Syria and Iran. The original concept for Facebook came from the colloquial name for books given out at the start of the academic year by universities designed to help students get to know one another better. 2006: Twitter. com is a social networking site that that enables its users to send and read messages known as Ã¢â¬Å"tweetsÃ¢â¬ . Tweets are text based posts of up to 140 characters displayed on the authors profile page and are delivered to the authorÃ¢â¬â¢s subscribers known as followers. It is sometimes described as the Ã¢â¬Å"SMS of the internetÃ¢â¬ and is widely popular with about 5 million users. ROLE OF SOCIAL MEDIA IN MARKETING: Social media is now increasingly becoming an ingrained aspect of political campaigns, national defence strategies, public policy, public relations, brand management and even intra company communication. Since the major task of marketing as tool used to inform consumers about the companyÃ¢â¬â¢s products, who they are and what they offer, social marketing plays an important role in marketing. Ã · Social media can be used to provide an identity about the companies and the products or services that they offer. Ã · Social media helps in creating relationships with people who might not otherwise know about the products or service or what the companies represent. Ã · Social media makes companies Ã¢â¬Å"realÃ¢â¬ to consumers. If they need not just talk about the latest product news, but share their personality with them. Ã · Social media can be used to associate themselves with their peers that may be serving the same target market. Ã · Social media can be used to communicate and provide the interaction that consumer look for. THE GLOBAL IMPACT OF SOCIAL NETWORKS IN MARKETING According to comScore, a marketing research company that tracks Internet traffic, social networking sites accounted for 13. 8 billion display ad impressions in August 2009, representing more than 25 percent of all display ads viewed online, in a study of U. K. online display advertising on social networking sites. Social media is changing the way marketing is done. No longer can marketers rely on putting out one general message to the public. In Malaysia, 80% of affluent Malaysians use social networking sites. The opinions of bloggers and friends have become more influential than advertisements. Using social media allows businesses to reduce cost on marketing or connect with customers. A number of Malaysian companies use social network to promote their product or service. A recent example is mobile operator DiGi who used social networking to create awareness on mobile broadband. One of the many campaigns DiGi did was Pimp My Broadband which was a contest allowing people to post up creative videos to the site. DiGi used mostly Face book and Twitter to spread the word and communicate with people. In another example, the Prudential insurance company was running in December 2009 a contest for which people were asked to guess the retirement fund a fictional character named Adam would need to retire comfortably. This campaign was heavily promoted over social networks and blogs. Most organisations have jumped onto the social networking bandwagon. Large and small organisations alike maintain Facebook fan pages and groups. The leading budget travel airline, AirAsia, has more than 20 different Facebook pages and groups that promote some aspect of their service. It also has Twitter feeds as well as its own social network located at www. airasia. ning. com. The results have been impressive. It claims to lead all other airlines with a fan base of approximately 100,000. The AirAsia blog is ranked as the worldÃ¢â¬â¢s second most popular blog site by an airline while CEO Tony FernandesÃ¢â¬â¢ blog is the most popular in Malaysia by a corporate leader. Its YouTube site is very popular while its Twitter account has 15,500 followers. AirAsiaÃ¢â¬â¢s investment of time and effort to reach out socially to Internet users must be bringing results; it recently announced plans to launch a brand new social network for travellers. The Nielsen Company estimates online advertising spent on the top social network and blogging sites increased 119 percent, from approximately USD49 million in August 2008 to approximately USD108 million in August 2009. Businesses and professionals are also connecting with one another on social networks. It has become commonplace for professionals to maintain accounts at LinkedIn. Using that platform, businessmen are able to find contacts that they can trust as introductions come from people they know and trust. SOCIAL MEDIA MARKETING IN INDIA AN OVERVIEW India has 71 million active internet users. Social Media is really picking up new heights in India. Many companies are coming big way for Social Media Optimization for their Product or Services nowadays. During Election 2009 Social Media was used for Influence Indian Voters. Social Media Marketing in India is being undertaken by brands like Tata Docomo, MTV India, Channel V, Clear Trip, Tata Photon, Axe deodorants, Microsoft, Naukri, Shaadi and many more. Besides, numerous Indian celebrities are also using SMM platform to promote their movies, music and events via Twitter, Facebook and personalized blogs. Social Media Marketing is also boosting public relations business. Several PR agencies in India are undertaking brand building exercises for corporate organizations, brands and celebrities. However, to the delight of many among us, the biggest gainers from SMM till date have been the organizations from the Not-for- Profit sector. Several Campaigns like Ã¢â¬ËBell BajaoÃ¢â¬â¢ and Ã¢â¬ËJaago ReÃ¢â¬â¢ have been quite successful on Social Networking Sites. These campaigns have been spreading the word about their cause through blogs, Twitter and Facebook. SOCIAL MEDIA MARKETING STRATEGIES: SMM is still in its infancy. Most of the online retailers though appreciate its positives fallouts on the brand awareness and promotion; they are still in the early stages of adoption. For an organization willing to invest in social media marketing, it is important to understand why SMM is an important marketing strategy and how it can help: This is the age of consumer satisfaction. It is not about selling it is more about interacting. There is a lot to learn from the customers. Using social media one can identify customers, listen to their feedback and use them to improve and innovate on products or services. SMM is not a mass advertising strategy. It can be used to identify peer groups and advertise to that particular group. Social Media can help in identifying influencers and through them one can guide a prospective customer into making a purchase. SMM calls for novel advertising methods as the attention span of online junta is very low. This is largely due to the multitasking phenomena. A person watching a video clip on YouTube might be simultaneously updating a blog, while reading another one and watching friendÃ¢â¬â¢s photographs on Facebook. In order to garner their attention away from distractions the advertisement must be innovative and interesting to hold the imagination and attention of the prospect. At the same time the message must also provoke the recipient into action; like seeking a detailed description of the product/service, or suggesting to a friend, or initiating purchase. So, if the advertisement is trying to sell something then it should be conveniently placed with links so that the prospect can make a purchase with least effort. Similarly Social Media can be used to increase customer loyalty through customer support services and hence improve customer retention. Social Media Marketing can also be used by brands to ward off any negative publicity. But the brands will have to be cautious here as over doing it may further aggravate their customers / stakeholders. There are many things that social media can do for business. Developing a strategy for using it means that the firms need to think about what they want to accomplish this year and determine how social media fits into the plan. One of the benefits of a social media strategy is the fact that the available tools can customized for their particular needs. The firms can choose to concentrate their efforts on the sites that seem to offer the best return on investment, while taking a Ã¢â¬Å"wait and seeÃ¢â¬ stand on the others. Better Marketing Communications Any marketing campaign is only as good as its effectiveness in reaching the client. As the saying goes, you can have the best product in the world but its success depends on its reach to the customers. One advantage that social media networks such as Twitter, Blogspot, MySpace and Facebook possess is that of cross-communication. In other words, much of the information is shared across different social sites. In the past, marketing strategies would target a certain audience based on the resources available. These days, however, if a company has a profile page on Facebook, for example, cross talk alone can generate interest, because of the fluidity of social media websites. Social media sites have helped do away with many geographical and communicative borders; companies who have listings with these sites can place themselves in a position where such communication can be just as effective as a targeted marketing campaign. In the same way, if one person subscribes to a certain companyÃ¢â¬â¢s web page, it is likely his or her friends will see it and too may become interested. Qualified potential clients can come to the company rather than the other way around! Higher Customer Satisfaction When a company is seen as being active on social media sites, it has just established itself as having its proverbial Ã¢â¬Å"finger on the pulseÃ¢â¬ of modern society. In a very real way, people take notice and assume that the company has something to say, that it is part of the community rather than simply a static web page. By posting regular updates that subscribers can see, business can appeal to their tastes and, more importantly, that business also has the ability to follow trends and change strategies based on the requirement. A keen observation is always essential for these updates. A close association with current scenario and trends will align the business people to more accurately cater to their audienceÃ¢â¬â¢s needs. In the past, a happy customer was a customer who could become a regular customer. Today, a happy customer or client has the ability to recommend a company to others grouped under similar target audience. Social networks can accomplish much of the work that in the past was allocated to the more traditional e-mail campaigns. Stronger Financial Returns This final factor should be the most obvious and, at the same time, the most motivating. It only stands to reason that with a larger target base, sales and publicity will naturally increase. One important thing to remember is that there are few if any costs when dealing with social sites. In the past, domain names came with a price tag. Even more relevant was the financial burden which often accompanied building a very good website (web design, maintenance, updates, etc). When a company takes advantage of social media, on the other hand, not only does exposure increase if done in the right manner, but also the financial obligation is little, if any. Why, then, are more businesses not taking full advantage of the tools in front of them? One of the issues is that many out there still consider the social media market a Ã¢â¬Å"nicheÃ¢â¬ sector and havenÃ¢â¬â¢t fully implemented their campaigns to include social networking as a part of the overall strategy. Other companies state that not all of their employees are open to newer technologies. Still others just donÃ¢â¬â¢t have correct media policies in place; i. e. what can be said, how it can be said, the chain of command to approve updatesÃ¢â¬ ¦the list can go on and on. The main issue tends to revolve around the adaptation to changing technologies and sources of revenue. CONCLUSION: There is no escaping social media these days, either for individuals or for businesses. Today, it is impossible to separate social media from the online world. Companies are diverting resources and rethinking their traditional outreach strategies. And as the social media wave dissipates into the vast ocean of connected experiences, the term itself will become an entry in dictionaries and encyclopaedias and we will embark on a new era of knowledge, accessibility and experiences unbound by distance, time or physical walls. It is high time that every business adopts social media and takes it seriously!
Saturday, September 21, 2019
PESTLE Analysis Of Education System In India Introduction In a complex world of constant change, where knowledge becomes obsolete every few years, education can no longer be something that one acquires during youth to serve for an entire lifetime. Rather, education must focus on instilling the ability to continue learning throughout life. Fortunately, the information-technology revolution is creating a new form of electronic, interactive education that should blossom into a lifelong learning system that allows almost anyone to learn almost anything from anywhere at any time. Ã¢â¬Å"Education is of great intrinsic importance with assessing inequalities of opportunity. It is also important determinant of individuals income, health (and that of their children) and capacity to interact and communicate with others. Inequality in education thus contributes to inequality in other important dimensions of well being. Measuring inequality in education is not an easy taskÃ¢â¬ . (World Bank Equity and Development, World Development Report 2006) The above statement makes clear the importance of education in different aspects of development of an individual. We are in the era of knowledge society and knowledge economy. Education has become the most important event of the individual and national development in terms of social and economic aspects. Even before GATS application, it has become an international event. On this background it would be worth reviewing the Indian scenario of education and its benefits reaching to the different sections of the society and the gaps. The key technology in future education is interactive multimediaa powerful combination of earlier a technologies that constitutes an extraordinary advance in the capability of machines to assist the educational process. Interactive multimedia combines computer hardware, software, and peripheral equipment to provide a rich mixture of text, graphics, sound, animation, full-motion video, data, and other information. Although multimedia has been technically feasible for many years, only recently has it become a major focus for commercial development. Interactive multimedia has several key advantages: 1. Students receive training when and where they need it. An instructor does not have to be present, so students can select the time best suited to their personal schedules. 2. Students can adjourn training at any point in the lesson and return to it later. 3. The training is highly effective , because it is based on the most-powerful principles of individualized learning. Students find the program interesting, so they stick with it. Retention of the material learned is excellent. 4. The same videodisc equipment can be used to support a variety of training paths. 5. Both the training and the testing are objectively and efficiently measured and tracked. Classroom training will always be needed for some things, of course, but interactive multimedia training should become the common method for teaching employees how to use an organizations systems, acquire the skills needed to handle a new job, and brush up on the latest management methods. History Historically India had very strong and internationally acclaimed system of education including higher education. In ancient India there was strong Ã¢â¬ËGuru-Shishya parampara (Tradition). We also had reputed universities in ancient India like Takshashila in North, Nalanda and Vikramashila in East, Vallabhi in Kathiawad, Kanchi in South and Nadia in Bengal. During the period of invasion, the systems were disruputed and over a long period there was no university system existing in the country or organised education system, for that matter. The newer era of higher education started with the British initiative in the 19th century. Lord Macaulay (1835) through the Macaulay minutes stressed upon the closure of institutions of oriental learning and then a few colleges at different places were established by the British regime. In July 1854, Woods Despatch had proposed establishment of universities in India. Accordingly, Calcutta, Bombay and Madras Universities were established in the year 1857 which are felicitating their 150th year. In 1882 the first Indian Education Commission under the Chairmanship of W Hunter was established. The report dealt with indigenous education, primary education, secondary education and university education. In 1913 the Education Policy was developed by the then British Government, which proposed establishment of new universities within each province. Accordingly, the Central Hindu College was converted to Banaras Hindu University in 1916 and Mohammedan Anglo Oriental College into Aligarh Muslim University in 1920. Universities were also stared at Mysore, Hyderabad and Patna. The Sergeant Report of 1944 was an effort to develop a national system of education in India, which suggested formation of University Grants Commission. During the post independence period, the First Education Commission was constituted in 1948 on university education. The Commission was chaired by Dr S Radhakrishnan and also known as the Radhakrishnan Commission. This Commission Ã¢â¬Å"stressed on autonomous status of universities. The Commission pointed out Ã¢â¬Ëdemocracy depends for its very life on high standard of general, vocational and professional education. The dissemination of learning, incessant search for new knowledge, unceasing effort to plumb the meaning of life provision for professional education to satisfy occupational needs of our society are the vital tasks of higher educationÃ¢â¬ . As an outcome of these recommendations, the University Grants Commission was established in 1956. In July 1964 Second Education Commission known as the Kothari Commission was appointed to establish well designed, balanced, integrated and adequate system of national education capable of making the powerful contribution to national life. The Commission Ã¢â¬Å"emphasized on expansion of hig her education, enhancing quality of higher education and research; and use of dynamic techniques for management and organizationÃ¢â¬ . In 1968, the National Policy on Education was adopted based on the recommendations of the Kothari Commission, which led to the considerable expansion of education facilities all over the country. In rural habitations, schooling facilities were developed within a radius of one kilometer but these did not get translated into detailed structure of implementation. The National Policy on Education was adopted again in 1986, which was in response to the non-implementation of 1968 educational policy. This policy emphasized on Ã¢â¬Å"elimination of disparities, equal access to every Indian of requisite merit, enhancement in support to research and inter-disciplinary research promotionÃ¢â¬ . In 1990, the Ramamurthy Committee was appointed to review the National Policy on Education 1986, which laid emphasis on quality of higher and technical education, its relevance to the needs of society and industry. With this background of different Commissions and National Policies, it would be worth glancing through post independence progress in expansion of education and its quality in the country. Also it would be worth identifying the gaps so that remedies could be worked out for further improvement. Growth Of Distance Learning Working adults who pursue their studies part time constitute roughly half of all students taking college courses in the United States. These people usually find distance learning more convenient. The Public Broadcasting Service (PBS) now enrolls 350,000 students in distance learning courses, up from 55,000 a decade ago. PBS recently announced a partnership with 60 community colleges around the United STates, which will enable students to earn degrees using instruction from 20 PBS stations. Mind Extension University was launched in 1987 to become the first U.S. institution offering college education via cable TV. In 1992 it broadcast courses taught at 21 universities over 600 of the nations 11,000 cable systems, reaching 18 million homes. Plans are to extend its reach to 50 million homes by 1996. Universities are setting up their own distance learning systems. The National Distance Learning Center estimates that 25,000 students are now pursuing degrees in this manner. Pestal Analysis Of Indian Education System Political Schools being privatised (like the NHS) A government initiative creates the risk that the school may fail to deliver the policy or be diverted away from local priorities etc. Changes to the skills required to be a teacher/ tutor Changes to curriculum with short lead times Requirement to be self managing Requirement to be self financing Economic Central or local government funding decisions may affect school/ establishment finances Closure of a local industry may affect fund raising plans etc. Ability of parents to raise funds for optional activities The need to run breakfast/ after schools clubs Ability to invest savings/ surpluses Cost of providing resources: Staff teaching support Basics books/ paper Technology solutions laptops etc Interest rates Shortages of materials on national/ international markets Over provision of school places in the area resulting in competition from neighbouring schools The risk of highly valued, key staff moving on to more Ã¢â¬Ëup and coming schools/ academies Social Decline in birth rate, reflecting national trends Local population changes (increasing/ decreasing numbers) Demographic changes may affect likely pupil rolls or the nature of pupils needse.g. pupils with English as a second language etc. Closure of local firms providing employment Inability to attract staff Social networking blogs, facebook, twitter Changes to qualifications expected Integration with local community Integration of students with special needs parental preference an increase in Ã¢â¬Ëparent power has allowed parents more freedom of choice over their childs school the risk of highly valued, key staff moving on to more up-and-coming establishments Information is accessible to staff anywhere in the world via the Internet Staff were not given enough training or access to effectively change their habits and how they expected information to be made available Technological Changes to standards/ equipment required Risk of selecting the wrong technology at times of change (i.e. windows -v- open source) New computer viruses may affect school/ college operations, Disturbing/ illegal images on the internet may affect ICT security measures etc. Move from paper based books to e-book readers Computer hardware being out of date Computer software being out of date Time to manage IT systems Legislative new legislation may create risks of non-compliance with the law, create new administrative burdens etc Changes to child protection legislation Raise the age of school leaving age Raise/ lower the age of starting school. Nursery/ kindergarten Change to school opening hours Changes to funding of charity based organisations Health safety legislation Environmental A new highway layout near the school may create new dangers for pupils etc Waste disposal Reduction of green space available for activities Changes to local bus routes Using a significant amounts of paper and photocopier toner to produce printed information. POLITICAL ANALYSIS :-> The government has experienced a number of criticisms from its parliamentary opponents. It also looks as if relations between the central and state governments will remain strained. In August 2004 the BBC reported that ministers from five BJP-run states walked out of a meeting called by the government to devise a new national education policy.51 But they also stemmed from a widespread recognition that Indias education system fails large numbers of its young people, either because education is not available or because it does not provide students with relevant skills. The Common Minimum Programme represents a welcome attempt to reassert the traditional vision of education in India, concentrating on access, quality and secularism. But while these aims have remained largely unchanged since Nehrus era, it remains to be seen whether the current government can become the first administration to confront and manage the balance between excellence and equity. ECONOMICAL ANALYSIS :-> In India from lower to higher class study is free. However there are several private schools and colleges are charged higher price. So education in India is more up to upper class people. Mean while government also try to make education free for everyone. But due to lack of awareness and other factor like society and money. The literacy rate is not increasing as it is to be increased. Mr Kapil Sibbal HR minister of India comes with several new concepts which are likely to be used. Govt. Also provide mid day meals and several others program to attract or increase literacy rate in India. However due to low economic conditions people cannot afford higher education in india. SOCIAL ANALYSIS :-> In India social factor is one of the most important factor as it is a very big country and its society is divided into several cultures which also effect education in India. But now a day everyone knows the importance of education hence they like to study rather than other things. In India about 2600000 people are graduates and about 10,00,000 people are post graduates. But due to lack of proper education system they cannot have proper services which also give wrong message to the society. Hence people are not getting jobs. TECHNOLOGICAL ANALYSIS :-> In India due to huge population proper technology are not used in education system. However In the near future, ordinary PCs will be able to vividly explain and show students the answer to a question in full-motion, talking, colour video graphics instead of simple written text. Personal digital assistants will become book-sized electronic companions for communicating, computing, and performing endless other tasks. Keyboards will be replaced with voice-recognition systems, and language translation will be computerized. Virtual reality will eventually allow one to enter any world imaginable. Screens wont be just the size of a desk, but an entire wall, so images will become life-size. Miniaturization of hardware will continue to reduce the size of information technology such that powerful systems will be cheap and small enough to put in a pocket. Already, one can buy a briefcase that incorporates a computer, printer, fax, copier, and telephone, permitting instantaneous contact from anyw here. Comming Changes In Education 1. Students will attend televised lectures in their residence halls and draw materials form the library using computers in their rooms. 2. Some instruction will be conducted electronically and some will occur in small, informal meetings between faculty and students. 3. Local area networks (LANs) will enable universities to integrate many aspects of college life that have long been segregated in separate buildings. 4. Non-residential students will be able to attend lectures and use libraries form distant locations, such as their homes or places of work. 5. Electronic access to library catalogs will eliminate the need for some reference space but probably will increase the need for computer space. 6. The teachers role will shift form lecturing to advising or coaching students on tough, messy issues, such as choosing materials, topics, career paths, etc. LEGAL FACTOR:-> The National Policy on Education was adopted again in 1986, which was in response to the non-implementation of 1968 educational policy. This policy emphasized on Ã¢â¬Å"elimination of disparities, equal access to every Indian of requisite merit, enhancement in support to research and inter-disciplinary research promotionÃ¢â¬ . In 1990, the Ramamurthy Committee was appointed to review the National Policy on Education 1986, which laid emphasis on quality of higher and technical education, its relevance to the needs of society and industry. With this background of different Commissions and National Policies, it would be worth glancing through post independence progress in expansion of education and its quality in the country. Also it would be worth identifying the gaps so that remedies could be worked out for further improvement. ENVIRONMENTAL ANALYSIS:-> Indias education system turns out millions of graduates each year, many skilled in IT and engineering. This manpower advantage underpins Indias recent economic advances, but masks deep-seated problems within Indias education system. While Indias demographics are generally perceived to give it an edge over other countries economies (India will have a youthful population when other countries have ageing populations), if this advantage is restricted to a small, highly educated elite, the domestic political ramifications could be severe. With 35 per cent of the population under the age of 15, Indias education system faces numerous challenges. Successive governments have pledged to increase spending on education to 6 per cent of GDP, but actual spending has hovered around 4 per cent for the last few years. While, at the top end, Indias business schools, Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs) and universities produce globally competitive graduates, primary and secondary schools, particularly in rural areas, struggle to find staff. Indian governments have seen education as a crucial development tool. The first part of this paper provides a historical perspective on the development of the education system in India, highlighting the changing emphases within government policy. Since Independence, the education policies of successive Governments have built on the substantial legacies of the Nehruvian period, targeting the core themes of plurality and secularism, with a focus on excellence in higher education, and inclusiveness at all levels. In reaching these goals, the issue of funding has become problematic; governments have promised to increase state spending while realizing the economic potential of bringing in private-sector financial support. The second part of this paper examines how recent governments have responded to these challenges, which have remained largely unchanged since Nehrus era, despite the efforts of past governments and commissions to reform the Indian education system. Attention will be paid to more recent policy initiatives, both those of the previous BJP-led administration and the proposals of the current Congress-led United Progressive Alliance. It will become clear that the same difficulties that existed nearly sixty years ago remain largely unsolved today for example, the need to saf eguard access to education for the poorest and most disenfranchised communities of India. STRENGTHS -sufficient methods, equipments and techniques to train stuff in all parts of education -all educational institutes have official licences/status -specialists on different levels of education forest schools offer tailored courses -vocational schools have contacts with enterprises -John Deere and Ponsse willing to assist in training -quick changes possible to meet the needs of forest sector -know-how on preparing seminars (e.g. with Silver Taiga) WEAKNESSES -lack of financing -no official programmes for forest machine operators -no qualifications or diplomas for forest machine drivers -no qualifications to use machines, no possibilities to increase education for working staff -no skills to use new techniques or materials OPPORTUNITIES -ready to study the state of market -possibility to research the market demands -possibilities due to the join project in terms of studies -growing need to educate specialists THREATS -shortage of specialists in this project -new forestry legislation causing unpredictable future -lack of long term forest policy in Russia SWOT ANALYSIS OD EDUCATION SYSTEM Need to reform education system TNN 25 November 2009, 09:40pm IST Text Size: Topics: Mangalore Vishweshwara Hegde Kageri Sri Swarnavalli Mutt MANGALORE: State primary and secondary education minister Vishweshwara Hegde Kageri said there was an ardent need for reforming the system of education that has continued to be under the colonial influence. Speaking at the inaugural session of the Bhagavad Gita campaign organized under the aegis of Sri Swarnavalli Mutt here on Wednesday, Kageri said such campaigns should strive for building up the public opinion to pressurize the governments to decolonize the system of education by infusing the traditional thoughts. Kageri who was critical about the employment oriented system of education said that the present system had failed to provide the students correct vision of life and tuned them mere job hunters. He requested the organizers to conduct the campaign among the students so that they could emerge as enlightened citizens. The mentality of the people these days was akin to the mentality of Arjuna as portrayed in Bhagavad Gita. People can come out of the condition of imbroglio by going through the teachings of Lord Krishna. It will help reform the personal lives of Indians, he said Suggessions There are national agencies, which are looking after drop out and quality issues. But I strongly feel that this is the stage in which higher education system should take interest in their feeder area or supply chain to improve quality and drop out as a priority need of the community and duty of higher education system and lastly for their own growth i.e., higher education system. It is always debated, as to whose responsibility it is to maintain the quality of education whether policy makers, administration, universities, teachers, society or students. I consider this is a joint responsibility of all stakeholders, which needs coordinated efforts and definite commitment to improve the system. I feel the university system should take lead as they have got pool of intellectuals with infrastructure to do research and training. The university departments like education, sociology, and economics could take projects in their drainage area, directly or through affiliated colleges in which they can, evaluate the enrolment rates, drop out rates, quality of education and underlying reasons; evaluate the teachers and infrastructure available and workout remedial measures. These remedial measures could be implemented in some of the schools on experimental basis and within a few years the outcome may be studied. Th e successful module may be sent to government for implementation or convince local community to take over the responsibility. This will be a great national service by the universities. The issue of non-availability of the Teachers at the primary school headquarters and their frequent long absence needs to be addressed. One suggestion in this regard is that select the best talent with proper qualification, preferably married ladies residing in the same village and train for the job. Keep the job non-transferable, keep refresher courses at regular interval; constitute a village education committee for the school, involve them in management, establish liaison with district/state education authorities and genuine NGOs. This experiment will help to bring stability to teachers and quality in school education. We desire to be a developed country, we have to make special efforts to promote education for disadvantaged sections of the society for a balanced growth, otherwise large section of the society will be left out of social and economic growth, which will have negative impact on democratic and economic growth. We talk of our proud heritage of Ã¢â¬Å"Vasudaiva Kutumbaka mÃ¢â¬ i.e., Global Family, why we are not able to take care of our own national family? 1. Drop out rates are shown combined States 2. Drop out rate of Scheduled Caste State wise 3. Drop out rate of Scheduled Tribe State wise Conclusion The educational changes introduced by the BJP did not play a major role in the May 2004 general election. While access to education was an issue in some rural areas, roads, power, water and jobs were more important. The NDA manifesto on education had changed in emphasis, moving towards a more Ã¢â¬Ëcommunal and nationalistic stand. Three points stand out: The focus on Indian culture, heritage, and ethical values in syllabuses will be strengthened. The downgrading of Bharatiya languages in school and college education will be checked. Teaching in the mother tongue will be encouraged. Efforts will be intensified for the propagation of Sanskrit. While the Congress-dominated United Progressive Alliance government remains in power, these policies will not be implemented. But education will remain a key issue in Indian politics. The government will have to deal with the inherent problems in the education system and, for its own long-term political survival, it will need to reverse the changes introduced by the NDA. As mentioned above, in its Common Minimum Programme, announced on 28 May 2004, the government pledged to raise public spending on education to at least 6 per cent of GDP, impose a cess on all central taxes to Ã¢â¬Ëuniversalize access to quality basic education and reverse the creeping communalization of school syllabuses of the past five years. Both the budget and the Independence Day address stressed the importance of education as a key to tackling poverty, one of the main causes of which is illiteracy. The president, Abdul Kalam, has called for expenditure on education to be raised by 2-3 per cent of GDP. The government has already experienced a number of criticisms from its parliamentary opponents. It also looks as if relations between the central and state governments will remain strained. In August 2004 the BBC reported that ministers from five BJP-run states walked out of a meeting called by the government to devise a new national education policy.51 But they also stemmed from a widespread recognition that Indias education system fails large numbers of its young people, either because education is not available or because it does not provide students with relevant skills. The Common Minimum Programme represents a welcome attempt to reassert the traditional vision of education in India, concentrating on access, quality and secularism. But while these aims have remained largely unchanged since Nehrus era, it remains to be seen whether the current government can become the first administration to confront and manage the balance between excellence and equity. Biblography 1. http://proquest.umi.com/pqdweb?did=18206sid=6Fmt=3clientId=129893RQT=309VName=PQD 2. http://timesofindia.indiatimes.com/articleshow/msid-5269065,prtpage-1.cms 3. http://dimdima.com/forumnw/message.asp?Tid=64q_title=Todays+Education+System 4. http://www.highereducationinindia.com/
Friday, September 20, 2019
The importance of financial intermediaries Introduction Nowadays financial intermediations play the important role in the economy. Firms and individuals can find sources to finance its new project. Also lender can invest their money in secure positions. Financial intermediations raise funds from the depositors for short term and lend them to the borrower for long term. The main job of those institutions is to provide finance through taking extra risk. So there are three parties engaged in those investments process. The lender or the depositor could lend his money on secure way and low cost. The borrower can find the finance of his project. The financial intermediation manages the process of those transactions. The question now is that why do lender and borrower need financial intermediation to manage this relationship. Why do not they do it directly without a third party? The answer of this question needs to know the main reasons why financial intermediations exist. There are three reasons explain this issue. First reason is that, the dif ferent requirement of those two parties. Second reason is the transaction cost. Finally is the asymmetric information. In this assay we will focus on the asymmetric information as a reason of the existence of the financial intermediation. Also, in this essay I will first explain the Asymmetric information, adverse selection and moral hazard. Then I will brief some empirical study about the issue of the effect of Asymmetric information to represent the importance of this issue. Also, I will explain the effect of the transaction cost because it has relation with the information cost to avoid unobserved information. Finally, I will explain the financial intermediary natural and their role in guiding the financial process. My conclusion refers to the importance of financial institutions to avoid asymmetric information. I am also touched upon the difference between the risk transferring and risk sharing and the fails of those conventional institutions in the last financial crisis. I reco mmended Islamic industry is an alternative to those convectional ones which can be able to withstand during the crisis because they works as a partner with their consumer and they share the risks with them. The impact of Asymmetric information, adverse selection, and moral hazard on the lender. It is important to the lender to have the good quality and quantity information about the borrower to be in the save side. When the information is poor that means there will be risk exist. Asymmetric information is an important concept in finance and needs to be understood. It means said Bucle (1998); the information refers to the situation where one party has more information than the other party. This is a problem with most types of transactions, financial or non financial transactions. In the Case of a financial transaction, the borrower will have more information about the Risks and return of the investment project for which funds are being borrowed and the lender do not have the same information the borrower does. So it may leads to actual conflict. Asymmetric information more affect lender, before he gives loan to the borrower and after. Adverse selection is the result of asymmetric information which means a bad selection with high risk of default. The adverse selection refers to the borrower with adverse return. Also, the second result of asymmetric information is moral hazard continued Bucle (1998). The lender will face this particular problems, in which always happened after lending. This problem is described as bad behaviour that accurse when the lender take the money from the lender and because the money is not belonged to him he will use it badly. He will use it for risky activities. As a result the lender will be at risk of losing his money. Karlan and at al (2005): investigate the moral hazard and adverse selection in credit market in South Africa. The random sample of 58000, of male and female, direct offers mail used by a larger lender in South Africa by three classes. First, offer interest rate. Second, contract interest rate which is equal or less the offer interest rate and revealed to more than 4000 borrowers that agreed to the first offer rate. Finally, a dynamic repayment with a good price on future loans for borrowers still in a good positions. These three stages supported by full information given to the lenders. The study setup distinguishes adverse selection from moral hazard impact on repayment. The result found that approximately 20% of default is because asymmetric information problems. Another empirical study of the impact of asymmetric information conducted by Gaul and at al (2008) investigate the effect of unobservable information on corporate loan market, and if the borrower gives the lender the incentive to reduce the asymmetric information effects. The study used a regression to give evidence of a positive relationship between some measure of loan borrower by lender, contract terms, negotiating loans, and the amount of non- publicly information. The study found that, moral hazard and adverse selection problems do exist in the corporate loan market. As a result of asymmetric information, adverse select, and moral hazard is the transaction cost. So what do we mean by transaction cost? Bucle (1998) counts four types of transaction costs which are as follows. Firstly, search cost, the borrower and the lender will be affected by high cost of searching for accurate information about each other to avoid risks associated to default and loss money. Also, verification costs, which mean the cost that accrues when lender tries, ensure that information he has is true. Furthermore, monitoring costs, the lender after given loan to the borrower should follow the borrower activities to make sure he will be able to make payment as agreed. Finally, enforcement costs, in case of default the lender wants to ensure that the lender can be enforced to get the money back. The importance of the financial intermediaries The financial intermediation is the entity which in a med position between two parties and manage the financial transaction between them. Commercial banks, investment banks, stock investing services, insurance providers, etc are examples of the financial intermediation. So we can imagine the importance of those entities. For example banks, it does the important role. Banks obtain funds from depositors and then lend those funds to borrowers. Also provide financial services said Fraser and et al (2001). Also individual as lender can get fixed income at cheaper cost. Also, when the lender uses the financial intermediary he wont need to bear those costs. He does not have to spend money and time for collecting information to find good borrower. Moreover, he can get his money back at any time he want it. Also he does not have to bear risks of default the borrower and other risks because the risks are borne by the bank. Always banks have information and policy system about their clients and diversify their investment in case mismatching the maturities of their assets and liabilities said Saunders (2008). Saunders and et al (2008) said because of costs of monitoring, liquidity, and price risk, as well as for some other reasons, savers often prefer to hold the financial claims issued by FIs rather than those issued by corporations. Diamond (1984) developed a model of delegate monitoring. Financial intermediary acts as monitor by promising the lender a fixed income and monitor the borrower activity to fulfil the lender the promise said Allen at al (2008). Another model developed by Boot and Thakor (1997) about delegated monitoring. They assume that, there are three kind of information. First, incomplete and unclear information about the future activity that the borrower is going to do and they suggest the solution is using financial market to obtain this information. Second the lender does not have information about the lender activity in term of invest the money in safe or risky project, and they suggest the solution by intermediary. Finally, borrower might have the chance to invest in a risky project and also they suggest the solution by intermediary said Allen at al (2008). Conclusion and recommendations: In conclusion, financial intermediaries do not exist by chance the economy has found them. As it shows above it exist because the need of the two separate parties and these parties represent the structure of the economy in any country. Borrower wants to have finance in his new project. Also lender need to be safe from asymmetric information, adverse selection of borrower and moral hazard and it is the financial intermediarys main job. To collect information about the borrower is not an easy task. It contains high cost for the small lenders which prevents him to invest his money. Also, he cannot give his money to the wrong person or firm. Financial intermediary could do this job on behalf of the investor. This job can be done by financial intermediaries in a low cost because of the large number of the customer they deal with. Also they act as specialist to this kind of financial transactions. However, financial intermediary is not always the haven. It has also risks of default, credit risk, liquidity risk, and etc. As we experience in the last financial crisis and the collapse of the biggest financial institutions around the world as a result of transferring risk. I think Islamic banks are the solution. They share risks instead of transfer them. Every party have to bear part of the risk to be able to continue. Transferring risks are not the solution, which means party will have nothing and other will have everything as a result part of the economy, will continue and the other part will collapse. Lets imagine the collapse party is the banks. So, the crisis will extend to the economy as a whole.