Organ Donation Essay Example for Free

Organ Donation Essay Problem Statement: The increase in organ donation results in it being sold as a means of gaining income for many persons in the Jamaican society. It results in the body being viewed as a utilitarian object rather than a metamorphic entity that people can call their own. The ways involved in obtaining organs for usage by medical researchers are inhumane with limited emphasis being placed on the effects the process have on members of the society. Purpose of Study: The purpose of this study is to evaluate the social, economic and ethical issues associated with organ donation and to outline the different methods that could be implemented to regulate the extraction of organs from humans. Research Questions: What are the main economic, social and ethical implications of organ donation in the Jamaican society? Subsidiary Questions What are the different ways in which one may try to obtain organs for sale or scientific studies? What impact does the harvesting of organs have on economical developments in different countries? What are the implications of the uses of organs in the future of health care in Jamaica? Hypothesis: Organs donation accounts for: 1. An increase in the black market 2. exploitation of the human body and 3. leads to the misconception that once a donor gives an organ, the recipient of the organ will survive. Significance: The results obtained from the study will help to enhance information that will educate the public, future researchers and medical professionals about the ways to reduce the economic, social and ethical impacts of organ donation. Literature Review Organ donation is important in improving the quality and the quantity of life of individuals in need of organs in the society. However, the need for increase in organ donation is often affected by ethical, economic and social impacts associated with both the recipients and the donors of the organs. It is with this that an in-depth research was conducted to find out the ways involved in obtaining kidneys for medical usage and the effects the process may have on individuals within the society. Findings showed that once a more structured system is implemented to regulate organ donation, there will be an increase in the number of organs donated and a reduction in the impacts stated above. What is organ donation and what are the different ways in which one may try to obtain organs for sale or scientific studies? Wilkinson (2011) states that organ donation is the removal of tissues and organs with consent from owners or decision makers, such as family members, for the main purpose of transplanting them into other persons. She suggests the many routes in which persons may obtain organ from donors. These include buying it on the black market as it is the cheapest and easier route to go or it may be stolen from the body of deceased persons which poses the risk of exploitation leading to the development of ethical issues. She alludes to the point that the word â€Å"donation† suggests a willing gesture or that permission must be given to facilitate the process of acquiring the organ being transplanted. This is further supported by the fact that humans, before they die, may sign an agreement to have their body donated to medicine and therefore is subjected to organ extraction or even medical researching. Similarly to the views of Wilkinson, Andrews and Nelkins (2001) believes that it is morally incorrect for the body to be exploited by medical professionals and wealthy business men. They support the argument that before medical professionals can begin extracting organs for donation, they should first receive consent from patients and family members of the patients. This is however contradicted by Barnett and Kaserman (2006) who are of the opinion that once the benefit of extracting organs includes saving the life of individuals, it should never have to come down to a consent form to continue the procedure. They are not indicating that consent is not important, however, just by the fact that the patient has signed over all rights of his body to medical professionals to provide treatment and certain important diagnosis; it should not be a problem for organs to be extracted to carry out various studies to improve the quality and quantity of life. As stated by Herring (2002), there may two types of organ donors: living donors and deceased donors (brain dead). In order for the organs of the deceased to be used, there must be enough oxygen in the organ required to last for 18 hours. He is of the opinion that these organs should be acquired by signing of consent forms by family members or by the patient himself before death. When the patient is conscious, he should inform family members his plan to donate organs so as to prevent any disputes after his death. He sees the body as more than an entity that hosts organs. Rather, it is a part of a person’s persona and what makes them who they are. The body should be viewed as a patient one that still has rights and should still be respected. What impact does the harvesting of organs have on economical developments in Jamaica? Firstly, with an increase in the demand for organ donation, there poses strong economical problems amongst various persons involved in the above said situations. Due to its importance, organs are very expensive and may not be accessible by members of the poorer class (Kaserman, 2006). This is problematic as it may result in organs being acquired illegally. It is important to note that for any member of the society (generally that of the poorer class), an organ sale on the black market is much more cost effective than having medical personnel performing the extraction process. Furthermore, this may result in the exploitation of individuals exposed to the black market as professionals for example doctors and medical researchers also purchase kidneys and other organs from the black market, thereby drastically increasing the price of the organs once it reaches in a more formal setting (Wilkinson 2011). This act has created a link between both economic and legal issues as the black market has been deemed illegal in countries such as India, Canada and the United States. Serious consequences may also develop from being an active participant in the black market that could result in jail time or even the payment of fines much greater than that of what the kidneys were sold for. On a more important note, as stated by Taylor (2005), the problems associated with the development of the black market can be alleviated if a more structured system for selling and obtaining organs was implemented. It would help to increase the amount of people willing to donate kidneys and would allow for a cheaper and easily accessible market, making it more economically friendly to members of the poorer class. According to (Brezin 2010) â€Å"†¦if an incentive is given to donors, more organs may be given to the health centers to meet the demand of the organs required.† In other words, each time an individual donates an organ, he or she will be given money for the organ donated. Compensation accounts for hospital visits and follow up examinations, counseling and screen testing to see if the donor is physically and mentally fit, and surgery. However, while there may be an increase in the number of organs donated, it may begin to reduce any profit that might be made by the organizations due to the increase in incentives to compensate the donors. What are the implications of the uses of organs in of health care? According to Taylor (2005), â€Å"there have been numerous deaths due to the failure of organ transplant in patients because of the decrease in organ donation.† In countries such as China and the United States of America, the waiting list for organs is long and approximately 11 individuals die per day from the need of an organ. Even though organizations such as the Organ Procurement and Transplantation Network have been put in place with the aim of educating people about the importance for organ donation, there is still a shortage of organs in the health care system. But why is this so? Organ donation may be beneficial for the recipient, but it often brings struggles to the donor. When organ transplant is successful, approximately 3.5 years is added to the life span of the recipient thus enabling him or her to live a normal and fulfilling life with hardly any complications Bainham (2002). This approximation has helped to relax the psycho-social of family members that were once with the struggle of obtaining organs for their loved ones. However, Andrew and Nelkins (2001) argues the fact that in the case of the live donor, the psychological aspect of dealing with surgery, medical visits and complications months after surgery is the contributing factor that may allow for them not participate in organ donation. More importantly, financial struggles associated with donating such as hospital visits, transportation and follow up examination is overwhelming as donors are often expected to take care of the cost of donation as the system is one which is voluntary. In the Jamaican context, Aaron (2009) supports the fact that establishing an organ and tissue bank will help to save lives and also improve on the quality of life. He elaborates on the point that despite its importance, many Jamaicans are still against the establishment of an organ bank due to cultural and religious reasons. Many Jamaicans are discouraged because of the long waiting list and the shortage of organs. Aaron questions the processes which will be implemented in selecting individuals who will be able to acquire organs and believes that acquiring organs should not be based on how much profit may be made, but rather form an altruistic perspective. Similarly, in an article found in the Gleaner (2000) entitled Organ Transplantation, it was discovered that more than 400 patients are awaiting kidney in the country. It also brings across the light that organs are in fact needed in Jamaica. Methodology The study will involve evaluating the social, economic and ethical issues associated with organ donation and outlining the different methods that could be implemented to regulate the extraction of organs from humans. This will be spearheaded by the following research questions: 1. What is organ donation and what are the different ways in which one may try to obtain organs for sale or scientific studies? 2. What impact does the harvesting of organs have on economical developments in Jamaica? 3. What are the implications of the uses of organs in of health care? The targeted population for this study is the Jamaican society due to the many issues that have prevented the steady transplantation of organs needed. Data collection methods will be from both primary and secondary sources. Data will be collected from the works of previous researchers such as published books and Newspaper articles. The main instrument to collect data will be through an interview with 5 medical professionals. The interview questions will be surrounded on the importance of organ donation and will consist of 8 structured questions. These questions will collectively be geared towards answering the research question. The research will take place over a 5 months period in which drafts of the literature review will be handed in, compile interview questions, administer the question and then analyse the data received. The limitation to this study is that not the entire Jamaican population can be studied and therefore only selected hospitals will be focused on.

The Ethiopian Revenue And Customs Authority Erca Accounting Essay

The Ethiopian Revenue And Customs Authority Erca Accounting Essay Introduction The Ethiopian Revenue and Customs Authority (ERCA) conduct customs operations under the mandates given to it by proclamation Number 622/2009. A number of regulations and directives issued by the Council of Ministers and Ministry of Revenue also govern its operations. An examination of the Customs Proclamation and its supporting regulations and directives shows that except in the valuation of used goods and vehicles, it is consistent with the WTO Valuation Agreement. This is commendable if we take into consideration that it was issued before Ethiopia even became a member of the WTO. Country Experiences on Used Car Valuation Ethiopia Directive No.6/1996 (E.C.), on Used Vehicles and Goods Valuation and calculation of duties and taxes was issued by the former Ministry of Revenues (MoR), a predecessor of the current Ethiopian Revenue and Customs Authority (ERCA), with the stated objective of making the valuation system of used vehicles and goods a transparent, equitable and accountable one. It provides that the customs value of used vehicles and goods is to be based on the C.I.F. price of the good or identical or similar goods when it was bought as new. A depreciation allowance of 10 percent per year, with a maximum allowance of 30 percent is then deducted to arrive at the customs value. This means that for all vehicles and goods which are more than 3 years old at the time of importation 70 percent of the original selling price is used as the customs value of such goods. ( Directive No.6/1996 E.C.) It is quite clear that the above discussed valuation method does not conform to the methods of the Agreement on Impleme ntation of Article VII of the General Agreement on Tariffs and Trade (1994). Furthermore, it cannot be considered even under Article 7 of the Agreement which provides for a fall-back method of valuation because (i) the directive does not apply the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (1994) valuation methods sequentially but automatically uses an alternative method of depreciation allowance it devised, and (ii) it does not follow valuation methods laid down in Articles 1 through 6 of the Agreement , albeit with a reasonable flexibility, as stipulated under Annex I , Note to Article 7 , Paragraph 1 to 3 of the Interpretive Note of the Agreement. In addition, the 10 percent annual depreciation rate and the maximum allowed depreciation of 30 percent of the original price clearly do not reflect to prevailing market prices of used vehicles in the markets from which they are imported. Canada Memorandum D13-10-2 Used Automobiles, Motor Vehicles, Boats, and Other Vessels of Canada (2001, pp 2) outlines and explains the manner in which the value for duty of used automobiles and motor vehicles and boats and other vessels is to be determined. Where a vehicle or boat, new or used, is imported within 30 days of the date of delivery to the purchaser, it will be valued for customs purposes using the purchase price as the basis for establishing a transaction value. A valid sale for export to Canada is considered to have occurred, and any use of the vehicle or boat prior to importation will be regarded as being incidental to delivery of the vehicle or boat to Canada. If the requirements of section 48 of the Customs Act of Canada (1985), (which is the transaction value method, are not met the value for duty must be determined under one of the subsequent methods of valuation applied in the sequential order provided for in the sections 49 to 53 of the Act. (Canada Customs Act, 1985) For imported used vehicles which are not sold for export to Canada, (ibid) importers may declare a value for duty by referencing used vehicle valuation guides published in the country of export, which list retail sales values for vehicles in average condition. These values indicate the amount any purchaser can expect to pay for the vehicle, whether purchased for use in the country of export or for export to Canada. (Memorandum D13-10-2, 2001; pp. 3) In cases where the importer is unable to provide a value from a neutral source in the country of exportation, customs will use, as its primary reference, the retail sales value listed in the Canadian Automobile Red Book Official Used Car Valuations (Memorandum D13-10-2, 2001; pp. 4). An amount for Canadian duties and taxes, using the duty and tax rates applicable at the time of importation of the goods being appraised, will be deducted from the published listed value, in a flexible application under section 53, of the deductive value method of section 51. (Memorandum D13-10-2, 2001; pp.4) The above discussed used car valuation experience of Canada fully conforms to the methods of valuation of the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (1994). If the requirements of the transaction value method are not met, the value for duty must be determined under one of the subsequent methods of valuation applied in the sequential order which makes it fully consistent with Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (1994). Article 7 of the Agreement which provides for a fall-back method of valuation is considered when the other methods of valuation cannot be used. Under this method, used vehicle valuation guides are used which consistent with Article 7 of the Agreement. 2.3 Australia The Transaction Value Method: According to the Australian Customs Notice (1998), the Customs value of new or second hand privately imported motor vehicles or motor cycles will ordinarily be calculated using the transaction value method. Under this method the Customs value is based on the price actually paid or payable for the vehicle or cycle in a bona fide sale where the price is not influenced by any other factors such as related party transaction. This method will be used where the importer can show that the vehicle or cycle was purchased to be exported to Australia. (Australian Customs Notice, 1998) Similarly, as stipulated in the Notice (ibid), the transaction value method is not used when: The road vehicle has been purchased overseas at only a token or nominal price Between the date of purchase of the road vehicle and its subsequent exportation to Australia its value has altered due to the following occurring: the addition of accessories, fittings or options, major restoration, modifications or any improvements to the road vehicle made after its purchase; or the road vehicle has depreciated due to wear and tear caused by usage before exportation, an example of this that during the 12 month period of ownership and use required to obtain a permit to import the road vehicle was subject to normal usage which added additional mileage and depreciation to the vehicle; Where any of the above situations have occurred, the Transaction value method cannot be used and an Alternate Methods of determining the customs value will be considered. Customs and Border Protection experience has shown that the majority of road vehicles imported cannot be valued using the Transaction value method because they were not purchased solely for export to Australia or the vehicle has depreciated since purchase due to use. (Australian Customs Notice, ibid ). Alternate Methods of Valuation: When the transaction value method cannot be used to determine Customs Value, the alternate methods of valuation, as set out in Section 159 of the Australian Customs Act will be applied in sequential order. There are several alternate methods to determine the customs value of privately owned road vehicle. The Fall-Back Deductive method is the most appropriate method for establishing the customs value of privately imported road vehicles when it is unable to be determined using the previously mentioned methods. This method is based on the value of the road vehicle at the Australian wharf. The value is established by referring to an expert appraisal. ( Australian Customs Notice, ibid ). In this context, the expert appraisal should provide a cost for the road vehicle as it has been appraised at the point of importation. The appraisal will include any modifications or accessories that have been made or added to the road vehicle prior to its importation to Australia but not any changes to the vehicle that will be required after importation. Once the Australian landed cost has been satisfactorily established, certain deductions will be made by Customs and Border Protection. The value so determined will be the customs value which will be used to determine the customs duty and GST payable. (Australian Customs, ibid ). Another issue to consider is the circumstances where the application of the depreciation method is not appropriate. Certain models and makes of cars enjoy a particular status in the collector market. As an example, certain cars appreciate in value as they become valued as collector or classic and vintage cars. It is not unusual for such cars to be worth much more than the price when sold new. In these cases, it will be necessary to establish a value, where the declared transaction value is doubted, through the use of specialized publications or auctions results, in the country of export. (Australian Customs Notice, ibid ). The used car valuation experience of Australia fully conforms to the methods of valuation of the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (1994). The Customs value of new or second hand privately imported motor vehicles or motor cycles will be calculated using the transaction value method. This method will be used where the importer can show that the vehicle or cycle was purchased to be exported to Australia. When the transaction value method cannot be used to determine Customs Value, the alternate methods of valuation, will be applied in sequential order. Expert appraisal of used vehicles is used to assess the customs value. This method is consistent with Article 7 of the Agreement which provides for the Fall-Back method. Analysis of the Case Study An owner/ importer, a resident of Country I and a car collector, imported a vehicle from Country E. The owner / importer bought the car from a secondhand car dealership owned by the employer of his brother, which indicate the possibility of a related party transaction. According to Article 15 Paragraph 4 (h) of the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (1994), persons are deemed to be related if they are members of the same family. Since the importer is a brother of the employee working at car dealership there is a relation. The question is whether this relation can affect the transaction value. Since the brother of the importer is only an employee and not an owner of the car dealership, there is no possibility for him to influence the price actually paid or payable. The case study indicated that the make and model of the car bought by the importer was not previously imported into Country I. Therefore, no previous transaction values of identical or similar goods could be found. Where no transaction value could be determined under the transaction value method of Article 1 of the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (1994), for the goods being valued, it is necessary to consider a transaction value previously accepted by Customs for identical goods, as the goods being valued. If a customs value cannot be determined using the identical goods valuation method of Article 2 of the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (1994), then the next step is to seek a transaction value previously accepted by Customs for similar goods as the goods being valued. Since there is no previously accepted identical or similar goods value, the identical and similar goods valuation methods, which presuppose the prior importation of the same make and model of the vehicle being imported, cannot be used. The transaction for Customs valuation purposes must be the sale for export to the country of importation. There must therefore have actually been a transfer of ownership resulting in the exportation of the goods to the country of importation. The case study shows that the importer had used the car in the Country of export prior to importation. Therefore the car is not purchased by the importer in the context of a sale for export to Country I. As shown in the experiences of other countries above, regarding the valuation of used goods and vehicles, if a vehicle after being purchased in the country of export is used in the country of export prior to importation, the transaction value method of valuation cannot be used because the value of the vehicle is altered. Therefore, this fact precludes the possibility of using the transaction value method of valuation. Another fact which is indicated in the case study is that, prior to export; the car had been stored and transported in the country of export. According to Article 8 of the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (1994) there are costs which are added to the price actually paid or payable. The incorporation of Article 8 of Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 additions on the transaction value, presupposes that the method of valuation used is the transaction value method. If the transaction value method of valuation is not used, the cost associated with the storage and transportation of the car in the country of export cannot be added because alternative valuation methods are used. The case study also shows that the importer presented to customs an appraised value of $ 40,000 assessed by an insurance company in the country of import. The Australian experience shows, the expert appraisal should provide a value for the road vehicle as it has been appraised at the point of importation. Therefore, appraised values in the country of importation can be acceptable. What is doubtful in this case is, whether the appraised value by an expert from an insurance company can be considered an independent appraisal and therefore can be used by Customs. The appraisal by insurance company cannot be independent from the importer and cannot be acceptable by Customs. The other point is that, the appraised value for insurance purposes may differ from an appraised value for customs purposes, in which case the appraised value by an expert from an insurance company cannot be acceptable. Therefore, the rejection of the appraised value by customs is correct. As indicated in the case study, during inspection by customs, a Country E car dealership receipt amounting to $ 80,000 made out to the importer was found in the glove-compartment of the car. Assuming the receipt is for the same make and model of the car purchased by the importer, the question to be asked is, whether the customs value of the vehicle can be based on the invoice. As indicated earlier, the vehicle had been used after purchase in the country of export. Therefore, the value of the vehicle had been altered which leads us to explore other valuation methods other than the transaction value method. Chapter 5 under the General Annex of the revised Kyoto Convention states that, the amount of security to be deposited to be kept at reasonable levels and therefore, ensure that they are not used for punitive purposes. The Customs administrations determine how much security is needed. The amount of security has to be as low as possible, and, in respect of payment of duties and taxes, is not to exceed the amount potentially chargeable. Therefore, according to the Revised Kyoto convention, the amount of security to be deposited to clear goods under protest is determined by Customs not by the importer. The information provided in the case study indicates the potential to be collected is $ 12,000 based on the receipt price of $80,000. Security amount of $ 12,000 does not exceed the amount potentially chargeable. Therefore, the action taken by Customs is consistent with the Revised Kyoto Convention. Summary and Conclusion 4.1 Summary The importer had used the car in the Country of export prior to importation. If a vehicle after being purchased in the country of export is used in the country of export, the transaction value method of valuation cannot be used because the value of the vehicle is altered. Therefore, this fact precludes the possibility of using the transaction value method of valuation. The make and model of the car bought by the importer was not previously imported into Country I. Therefore, the value of the vehicle cannot be determined using the identical goods and the similar goods valuation methods as well as the deductive value method, which presuppose the prior importation of the same make and model of the vehicle being imported or the reselling of the imported car. The case study indicated that the car is imported by a collector which shows that it is not for reselling. The information required to substantiate production costs will normally be held by the seller/manufacturer and therefore is unlikely to be immediately available to the buyer in the country of importation. Also, it is unlikely that the importer will be able to obtain this information unless he/she is related to the seller or has a long term trusting relationship/association. In addition it will not be possible to establish the cost of production of the imported vehicle in the condition in which it is imported. Therefore, it is not possible to establish the value of the used vehicle using the computed value method. The importer presented to customs an appraised value of $ 40,000 assessed by an insurance company in the country of import which was rejected by customs. Appraised values in the country of importation can be acceptable. Since the appraised value was assessed for the purpose of insurance which may differ from an appraised value for customs purposes, the appraised value by an expert from an insurance company cannot be acceptable. The invoice value of $80, 000 which was found by Customs inspectors in the glove compartment of the car could not be accepted as transaction value, because according to the Australian Custom experience, if the vehicle is used prior to exportation to Australia the initial transaction value of the vehicle will be altered due to wear and tear as a result of usage. 4.2 Conclusion For the valuation of imported goods using the fallback method, three principles must be adhered to the customs value must be determined using reasonable means; these means it must be consistent with the principles and general provisions of the    Agreement; as much as possible the customs value must be determined on the basis of data available in the country of importation. However, this need not be taken as ruling out the use of information from other countries. Consequently, the origin of such information does not prevent its use for the purposes of Article 7 of the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994, provided that the information is available in the country of importation and Customs is in a position to check that it is true and accurate. Therefore, one of the following two alternative ways can be used to determine the value of the vehicle with consultation between the Customs administration and the importer for exchange of information. The Fall-Back method is the most appropriate method for establishing the customs value of privately imported road vehicles when it is unable to be determined using the other methods of valuation. In the case of Australia, the value is established by referring to an expert appraisal. Therefore, using an appraised value conducted by an expert appraiser independent from the importer is appropriate. The other Fall-Back method, to be used is the used vehicle valuation guides published in the country of export, which lists retail sales values for vehicles in average condition. These values indicate the amount any purchaser can expect to pay for the vehicle, whether purchased for use in the country of export or for export to other countries. This neutral source of information is another way of assessing the value consistent with CVA.

Affect And Strategy Of Environmental Factors Marketing Essay

Affect And Strategy Of Environmental Factors Marketing Essay STEEPLE/PESTLE originally designed as a business environmental scan, the STEEPLE or PESTLE analysis is an analysis of the external macro environment (big picture) in which a business operates. These are often factors which are beyond the control or influence of a business, however are important to be aware of when doing product development, business or strategy planning. Social: Dà ©lys is a chocolate based cake and a bakery Producer and as United Kingdom is one of the highest consumers of the Chocolate product, it is easily accepted by the People. It can take a speed in a market in very less time. On the other Hand as every person is busy, they prefer Baker Products which is more quick and easy to eat, every age, sex and of different geographical regions would easily adopt Dà ©lys product. Technological: The most modern bakeries are highly automated. To track and help assure compliance with government regulation that affects bakeries, companies deploy software, such as Environmental Quality management Program. Bakery Firms may use computer system to receive order, track sales and exchange the data with large customers. Dà ©lys do not have its own distribution business and retail outlets, Sales are through the main supermarket chains such as Tesco, Sainsburys, Asda and Morrisons. Some independent grocery chains also stock Dà ©lys products and the products also sold by Harrods and Fortnum and Mason. Which may affect the technologically in the operation of the Business. Economical: Large economies of scale occur in production baked product, is manly of labour cost can be reduced dramatically in large bakery facilities. A big automated bakery can produce a million bread loaves a week with just 100 employees working two shifts. The size of production facilities is limited by the need to distribute a highly perishable product to a large number of customers. Usually a large baking facility can service an area within a 300-miles radius. As Dà ©lys has 60 employees it could reduce the cost of production. These may be the factor affection Economical environment of the Industry. Environmental: Production is carried out at Dà ©lys Ltds own factory and by one other food manufacturer in England that is not owned by Dà ©lys Ltd. The factory must be environment friendly and should be concern about the reduction in pollutions that may effect in health of the person residing nearby. This may be the factor that may affect the operation of Dà ©lys Ltd. Political: As the Political situation of U.K is stable and that warmly welcomes the entry of the new products inside the United kingdom market, the tax policy of United kingdom is very producer friendly and conflicts is very much less likely to occur in the production like Cakes and bakeries that may affect the operation of the Dà ©lys Ltd. Legal: The basic understanding of the political legal environment is when the government implements laws and or regulations which affect the way a business operate. Legal environment in a business are as following Statutory and regulatory conditions, corporate governance, compliance, international trade regulations, competition regulation. In the case of Dà ©lys Ltd it has to be careful in food and hygiene regulation, employment policies, health and safety rules and regulation etc Ethical: The ethical factors includes Business ethics, Consent, Client confidentiality, Official Secrets Act, Security access, terms of business/trade, Trust, Reputation. As the national press has praised the quality of the products and a number of organisations have identified some Dà ©lys products as being the best of their kind in taste tests. Jo Brown has found fame as a dynamic entrepreneur and is a dragon on the BBC business show Dragons Den. Jo is a hands-on managing director and would always want to be seen as such in any business she worked in. These could ethically effect the environment of the Dà ©lys Ltd. Stake holder analysis Internal stakeholders and their interest in the company: (a) Employees. Employees and their representative groups are interested in information about the stability and profitability of their employers. They are also interested in information which enables them to assess the ability of the enterprise to provide remuneration, retirement benefits and employment opportunities, in the case of Dà ©lys Ltd 60 employees are the internal stakeholder of the Business. (b) Investors. The providers of risk capital and their advisers are concerned with the risk inherent in, and return provided by, their investments. They need information to help them determine whether they should buy, hold or sell. Shareholders are also interested in information which enables them to assess the ability of the enterprise to pay dividends. (Investors are owners of the co. It can be argued that they are external stakeholders, but its also hard to call your owners outsiders) In the case of Dà ©lys Ltd its a Private Company so the investor is Dà ©lys itself. (c) Management and those who appointed them. Financial statements also show the results of the stewardship of management, or the accountability of management for the resources entrusted to it. Those users who wish to assess the stewardship or accountability of management do so in order that they may make economic decisions; these decisions may include, for example, whether to hold or sell their investment in the enterprise or whether to reappoint or replace the management. External Stockholder The external stakeholders can be considered as anyone outside the implementing Organisations that could be affected by the projects results. STAKEHOLDER INVOLVEMENT It is not sufficient to identify the relevant groups. Named individuals need to be identified within each group and more than one person may be required for any organisation or department. The selection of these individuals will depend on the role that they are to play in the project and the requirements in terms of knowledge, authority and level of involvement that this creates. External Stockholder of Dà ©lys Ltd is Tesco, Sainsburys, Asda and Morrisons. Some independent grocery chains also stock Dà ©lys products and the products also sold by Harrods and Fortnum and Mason. Attitude toward the Strategy of Dà ©lys would be positive by the internal and external stakeholders, as Sales of the companys products have currently grown by more than 15% per annum every year since the company was founded and they currently amount to  £6 million annually. The net profit on sales ratio is a very healthy 10% and at this level other businesses have been attracted to Dà ©lys Ltds business model. The company has a balance sheet that shows there are assets of  £20 million funded by a mortgage of  £7 million, a long term bank loan of  £2 million and retained profits over the last 10 years of  £6 million. The residual amount comes from the shareholders equity. It employs only 60 people. Apart from one factory with attached offices, Dà ©lys Ltd owns no distribution businesses and no retail outlets. 2(a) Use appropriate tools to analyse and measure the effects and effectiveness of Dà ©lys Ltds current business plans. 2(b) Summarise the position of Dà ©lys Ltds in its current market. 2(c) Evaluate the competitive strengths and weaknesses of Dà ©lys Ltds current strategies. Existing Business Strategy Porters Five Force analysis is important when trying to understand the competitive environment facing a given industry. It involves looking at internal competition barriers to entry, the profit appropriating power of buyers and sellers, as well as substitutes to the goods produced. Applied to the bakery industries like Dà ©lys Limited it shows an average net profit that typically does not cover the cost of capital due to low barriers to entry, ease of production and ease of access to ingredients. Internal Rivalry There are many players in the bakery industries like Dà ©lys Limited. The top four companies are estimated to only account for 11.7 percent of the market. The industry is characterized by many small bakeries, but theres has been the recent trend towards consolidation and economics of scale. Businesses compare on price, quality, differentiation and relationship with key suppliers. Barrier to entry Barrier to entry in this industry is low. Economics of scale are beneficial, but are not required for industrial success. As a result, small business can enter the industry with relatively small amount of Capital. The two main Determinant of New company successes is the leader ability acquire sufficient channels of distribution to cover an operating cost and their ability to built up Brand acquisitions and Loyalty. Distribution channels typically involve retail outlets, such as grocery stores and supermarkets and they can be easily acquired if the bakery brand is established or have market research to create one. Dà ©lys Ltd Sales are through the main supermarket chains such as Tesco, Sainsburys, Asda and Morrisons. Some independent grocery chains also stock Dà ©lys products and the products also sold by Harrods and Fortnum and Mason. Buyers Buyers of the bakery industry products like Dà ©lys Ltd such as ASDA, Sainsburys, Morrison, Tesco are able to appreciate much of the industry profit due to large number of small bakeries that are buying to find outlets for their products. As a result Buyers are able to command Low price and volume discounts. Only a large player like have the power to level the playing field and achieve a more balanced share of the profit. Suppliers Suppliers do not have much negotiating power in the bakery business like Dà ©lys ltd due to the well developed market for their products and their commoditized nature of what they are saying. Cakes and pastries and child bakeries of delays ltd can be affected by price swing of the raw input, but the changes are the result of the global supply and demand determinants rather than supply negotiating power Substitutes Many substitutes exist for bakery products. Breakfast cereals, rice and potatoes are all viable alternatives and individual can also make all of the baked goods they want at home. Bakery relay upon price and convenience to keep individuals switching to a substitute for baking what they need at home. Position of Dà ©lys Ltd Product in Market Dà ©lys Ltd is a private company that makes cakes under the brand name Dà ©lys. It was founded in 2000 by Jo Brown who liked the chocolate based cakes and patisserie that was on sale in Paris. With  £75,000 Dà ©lys Ltd was founded. It makes a variety of desserts and sweets for the premium end of the market. All the output is of chilled products. Jo Brown has found fame as a dynamic entrepreneur and is a dragon on the BBC business show Dragons Den. Jo is a hands-on managing director and would always want to be seen as such in any business she worked in. Sales of the companys products have currently grown by more than 15% per annum every year since the company was founded and they currently amount to  £6 million annually. The net profit on sales ratio is a very healthy 10% and at this level other businesses have been attracted to Dà ©lys Ltds business model. The company has a balance sheet that shows there are assets of  £20 million funded by a mortgage of  £7 million, a long term bank loan of  £2 million and retained profits over the last 10 years of  £6 million. The residual amount comes from the shareholders equity. It employs 60 people. The growth in snacking and requirement for convenience foods has benefited both the biscuits and cakes and pastries sectors. Many industrially produced cakes are now available in wrapped single-portion sizes designed for snacking, while snack-sized packs of biscuits have also become more commonplace. The European market for bakery products amounted to 30.2 million tonnes in 1999, worth an estimated  £45 billion ($73 billion or i68 billion). Given its size, the bakery sector can be considered to be one of the most important sectors of the food industry as a whole. Bread remains a staple part of the diet, whilst cakes and biscuits can increasingly be regarded as regular snacking items rather than occasional treats. Bread is by far the largest sector of the bakery market, with sales of 24.45 million tonnes in 1999, equating to 81% of total bakery volumes. Sales of biscuits totalled 3.02 million tonnes, representing 10%, and cakes and pastries for the remaining 9%, or 2.73 million tonnes. There are over 120,000 enterprises active in the European bread-baking sector, the vast majority of which are small craft bakers. Craft bakers are dominant in countries where there is a tradition of buying freshly baked bread every day, such as Italy, Portugal, Greece and France. This contrasts with the situation in the UK and Ireland, where some 80% of bread consumed is industrially produced. Overall, artisanal bakers and in-store bakeries currently account for 63% of all bread consumed in Europe, although industrial bakers, which account for the remaining 37%, are becoming more significant. Within the total European biscuits market, DANONE is market leader, with a 16% share of sales, While Sales of the Dà ©lys Companys products have currently grown by more than 15% per annum every year since the company was founded and they currently amount to  £6 million annually. Ahead of United Biscuits with 11%, Bailsmen with 8%, and Barilla with 6%; own-label accounts for an estimated 18%. 3(a) Use a range of tools and models to develop a range of strategic options for Dà ©lys Ltd 3(b) Analyse the comparative strategic position taken by competitors in the market and how it may affect the choice of future strategy by Dà ©lys Ltd 3(c) Create a range of feasible options as the basis of future organisational strategy for Dà ©lys Ltd Despite the ongoing trend towards healthy eating, and the added pressures from the credit squeeze, demand for indulgent chilled desserts continues to grow. Market value increased by 14% between 2003 and 2007, and is expected to grow by 4% in 2008, taking sales to  £1,030 million. An internal shift within chilled pot desserts away from every day desserts in favour of premium lines is adding value, although overall volume growth has been subdued. Sales of other chilled desserts other than those in pots have been boosted by larger sharing formats, while a revival of family dining at the weekend has contributed to the growth of hot eating desserts. The outlook for the market remains positive, although in order to achieve longer-term growth, manufacturers will need to further increase the participation of ABC1s and increase frequency of consumption beyond special occasions. Impulse and on-the-go snacking, as well as the consumption of desserts away from main meals all offer further potential for growth. Mintel last examined the UK market for Chilled and Chilled Pot Desserts in March 2007 and July 2006 respectively. Mintel forecasts on the Bakery, cakes and pastry Industry Bread UK February 2007 Between 2001 and 2006, the retail sales volume of bread fell by 14% to 1.8 million tonnes. Mintel forecasts slower decline between 2006 and 2011 of approximately 9%. Between 2001 and 2006, the value market grew by 14%, or 9% in real terms. Mintel also forecast that it will grow by an estimated 11% over the next five years to reach a value of  £2.4 billion at current prices, which translates to a 2% rate of growth in real terms. à ¢Ã¢â€š ¬Ã‚ ¢ Bread Cakes Ireland March 2006 Retail sales of biscuits are valued at à ¢Ã¢â‚¬Å¡Ã‚ ¬252.4 million in RoI and have grown by 24% since 2000. Retail sales in NI rose from  £88.4 million in 2000 to  £114 million in 2005, representing a growth rate of 29% over the review period. à ¢Ã¢â€š ¬Ã‚ ¢ Cakes and Cake Bars UK June 2006 The UK ambient cake market comprises three main segments; whole cakes, occasion cakes and individual cakes. Sales increased by 11% from 2001 to reach a value of  £1.47 billion by 2005. In order to progress, suppliers have had to develop products to deal with current eating trends that have shifted away from the role of cake as a teatime treat or celebratory indulgence. à ¢Ã¢â€š ¬Ã‚ ¢ Morning Goods UK July 2007 The morning goods market comprises a broad range of bread rolls and bakery snack products. Most product categories continue to advance in value despite their maturity, while some notably bagels, muffins, brioche and doughnuts have been enjoying impressive rates of growth. Overall sales of morning goods increased by 11% between 2002 and 2006, to reach  £1.18 billion. This compares with a 10% rise in bread sales (excluding rolls) over the same period in a market worth  £2.11 billion. Growth has picked up since 2004, with morning goods sales increasing by 7.5% between 2004 and 2006, while sales of bread Increased by just 5.6%. à ¢Ã¢â€š ¬Ã‚ ¢ Sweet Biscuits UK May 2007 Sales of sweet biscuits stood at  £1,462 million in 2006, having achieved 2.2% growth on the previous year against a prevailing trend of healthy eating. Over the 2002-07 periods, value growth has outstripped that of volume, signalling consumers lighter consumption habits but willingness to trade up to more expensive and indulgent products. Greatest growth over the previous year was in healthier and special treat biscuits, both of which tend to retail at the premium end. Mintel forecasts that both value (in real terms) and volume sales of sweet biscuits will increase by around 7% at current prices over the 2007-12 month period, increasing to an estimated  £1.7 billion. à ¢Ã¢â€š ¬Ã‚ ¢ Non-sweet Biscuits UK October 2007 Sales of non-sweet biscuits have enjoyed slightly higher rates of growth (from a smaller starting point) due to their strong health positioning and the development of snacking variants. Snacking both at home and on the go is a key factor behind growth in sales of non-sweet biscuits. Manufacturers have already responded to this with snack pack and mini variants, but could do more to extend the relevance of non-sweet biscuits to the convenience-led on-the-go market. The newly released March edition of Frozen Cakes, Pies, and Other Pastries Manufacturing Industry report is the comprehensive market research guide for the industry. It has the latest information on the industrys key financial data, competitive landscape, cost and pricing, and trends during the current economic climate The available options for the Dà ©lys Limited are as following: Expanding the range of desserts and sweets it makes to include Viennese and Italian styles, Expanding the range of products to include ambient and frozen products, Producing healthier products to chime in with consumers changing tastes and government initiatives on healthy lifestyles, Increase the number of retailers selling the Dà ©lys range, Producing own label products for the supermarket chains, Expanding internationally, diversifying into other product areas such as bakery, Making products for niche markets such gluten intolerants and products for specific ethnic and religious groups who have specific dietary needs., Supplying mass-market caterers and airlines, Licensing producers to use the Dà ©lys name on other food lines., Opening Dà ©lys retail outlets in retail centres., Taking over other businesses. Two local firms with good regional reputations which might be targets are Maggies Farm Breads, an artisanal bakery, valued at around  £1.5 million, and Chocolaterie de Gro ote a company that hand makes Belgian style chocolates that is worth around  £1 million. , and selling out to a large food producing business. Jo believes she could probably get  £25 million for Dà ©lys Ltd. and get a seat on the board with a view to moving up to be in charge of a FTSE listed company. Alternatively she could just walk away with the money and find new businesses and ideas to develop. She also knows that Ben and Jerrys lost a lot of its carefully developed image as a hippy ice cream maker when it sold out to Unilever and she does not want to lose the market image she has built up for Dà ©lys Ltd by selling out. But she knows everything has its price. Conclusion At the end, studying about several criteria of the Dà ©lys Limited Production, Market and the product and looking over the diversified available strategic option we could conclude the assignment. Expending the range of desserts and sweets can be the good strategic option including ambient and frozen, as U.K person are health conscious so making the product may be the effective option for Dà ©lys Limited. As Delays Limited has no any retail outlets its open to open the retail outlets may also be profitable, supplying mass-market through caterers and airlines may me seasonal options. Dà ©lys limited if licence producer to use Dà ©lys name on other food may be that suitable option in a United Kingdom market as it itself developed a good image and goodwill in a market. Diversifying into other product may also help in expending the market share. And Making product for niche market such as gluten intolerants and products for specific ethnic and religion groups who have specific dietary needs may not work in United Kingdom market. When expanding into new markets credit managers need to be concerned about the new client base, specific trade laws that may apply currency considerations and political risk. The treasury department may consider working capital concerns, advance rates from their traditional credit facility and loan covenants as part of the overall strategy. Selecting which country to sell into is often dictated by the products we produce. For example, lets say Dà ©lys Ltd. provides Cake and Pastries that are ideal for economically challenged nations. They are low cost, light weight and easily produced worldwide. Companies such as Dà ©lys Ltd may have expertise in foreign languages, laws and customs. They need a strategic partner who brings these skills to the table.

Irish History Essay -- essays research papers

Sources: 1.) Whelan, Kevin. The Tree of Liberty: Radicalism, Catholicism, and the Construction of Irish Identity. 1760-1830. United States: University of Notre Dame Press, 1996. Irish History Tree of Liberty Paper The Protestant Landowners in the 1690’s grew tired of attempting to collect taxes from a relatively poor Irish population. Middlemen were therefore appointed to manage the lands, collect taxes, and ensure profitability. The owners of the lands may have been Protestant but the workers were often Catholic causing landlords to place a buffer between themselves and their often angry tenants. The solution came from dispossessed Irish Catholics who could conduct their business for them. These Middlemen provided the means by which they were to effectively govern the local population allowing Ireland to become a colony and not an ancien regime. This new and effective method allowed for the consolidation of property and the accumulation of wealth. â€Å"These accumulated leases laid the basis for the striking success of middlemen in the more expansionary conditions from the 1740s onwards.†(pg.4)   Ã‚  Ã‚  Ã‚  Ã‚  Catholics were not all taken from their lands; some resisted the Protestant surge and kept their holdings. These few landlords were crucial in rebuilding the Catholic influence in Ireland as they provided the base on which other Catholics could build. Middlemen even had clans with which they used to enforce their territory. â€Å"These Sullivan’s are a des... Irish History Essay -- essays research papers Sources: 1.) Whelan, Kevin. The Tree of Liberty: Radicalism, Catholicism, and the Construction of Irish Identity. 1760-1830. United States: University of Notre Dame Press, 1996. Irish History Tree of Liberty Paper The Protestant Landowners in the 1690’s grew tired of attempting to collect taxes from a relatively poor Irish population. Middlemen were therefore appointed to manage the lands, collect taxes, and ensure profitability. The owners of the lands may have been Protestant but the workers were often Catholic causing landlords to place a buffer between themselves and their often angry tenants. The solution came from dispossessed Irish Catholics who could conduct their business for them. These Middlemen provided the means by which they were to effectively govern the local population allowing Ireland to become a colony and not an ancien regime. This new and effective method allowed for the consolidation of property and the accumulation of wealth. â€Å"These accumulated leases laid the basis for the striking success of middlemen in the more expansionary conditions from the 1740s onwards.†(pg.4)   Ã‚  Ã‚  Ã‚  Ã‚  Catholics were not all taken from their lands; some resisted the Protestant surge and kept their holdings. These few landlords were crucial in rebuilding the Catholic influence in Ireland as they provided the base on which other Catholics could build. Middlemen even had clans with which they used to enforce their territory. â€Å"These Sullivan’s are a des...

Andrew Wythe :: essays research papers

Andrew Wythe Andrew Wythe was an amazing artist full of imagination, feelings, and compassion for his work. He has a great portfolio of work consisting of his two major styles of work, realistic and abstract. A lot of his personal life goes into each painting he creates. Each piece can usually be linked back to the life he lived and fond memories he wished to preserve.   Ã‚  Ã‚  Ã‚  Ã‚   Andrew was born in Maine and has quite a history to be told from living there. He has been painting for fifty years and has changed his style some during those years. He used to paint realistically for quite some time but then made the change to painting abstract. As a child, Andrew has very fond memories of his father and the fun times the family had together. He can recall a time when his father dressed as St. Nick and frightened him so much that he wet the bed. Just before Christmas, the whole family recalls hearing footsteps on the roof. Their father dropped a painting of St. Nick down the chimney for them. His father did illustrations, so Andrew had plenty of backing for his creative talents. Andrew can remember being very interested in the art of war ever since his early childhood years. He remembers playing with his tiny soldiers and creating stories for them. Andrew?fs father believed that a painter should be left alone from the ages of 6-18. Andrew had tutors for his schooli ng whereas his brothers and sisters went off to school. This gave him free time to roam the countryside. Andrew did not attend college but instead studied under Howard Pyle at his school with 12 other students.   Ã‚  Ã‚  Ã‚  Ã‚   Andrew?fs father died near his house in Maine because of a train accident. Andrew really viewed his father as a hero and looked up to him. He will always remember his father and because of this a heavy influence is always with Andrew when painting. His father?fs life truly inspired Andrew and because of this, Andrew?fs paintings are all very personable and all have a story to tell. The paintings mostly represent his life in Maine and represent the climate and area well. Most of the paintings are of houses, naturalistic surroundings, and his neighbors and friends. He would paint various rooms in his house to portraits of his friends. All were done with such depth and character.

Design Experiment

Design Experiment: Enzyme Inhibitors. Research question: What is the effect of adding lead nitrate solution on the activity of amylase enzyme? Aim: To test the effect of adding nitrate solution on the activity of amylase. Background Information: Inhibitors are molecules which repress or prevent another molecule from engaging in a reaction. They are substances that attach themselves onto an enzyme and reduce or prevent the enzyme’s ability to catalyse reactions. Competitive Inhibitors are inhibitors that occupy the active site of an enzyme or the binding Site of a receptor and prevent the normal substrate or ligand from binding.An active site is a region on the surface of an enzyme to which substrates bind and which catalyzes a chemical reaction involving the substrates. Thus the inhibitors prevent the enzyme activity when the concentration of the substrates is very low. As the substrate concentration increases so does the enzyme activity. Non-competitive inhibition is an Enzym e inhibition in which the inhibiting compound does not compete with the natural substrate for the active site on the enzyme but inhibits reaction by combining with the enzyme-substrate complex after the complex is formed.An example of a non-competitive inhibitor is ATP. When ATP accumulates it binds to a site other than the active site on the enzyme phosphofructokinase. In doing so it changes the enzyme conformation and lowers the rate of reaction so that less ATP is produced. Hypothesis: There is an inverse relationship between the mass of lead nitrate and the ability of amylase to convert starch into maltose. Variables: Independent Variable: ?The mass of lead nitrate dissolved in each of the solutions. Dependent Variable: ?The change in the color intensity of the iodine. Controlled variable: Time: the reaction was allowed to proceed for twenty minutes. ?Temperature: the water bath was set at 40? C. This was to provide the optimum conditions for the enzyme activity. ?Volumes of the respective solutions: The volume of the starch solution (10 cm3), the volume of the amylase (10 cm3) and the volume of water (5 cm3). The exact volumes were measured out with the help of a syringe. Materials: 1. Syringe 2. 6 test tubes 3. Stop watch 4. Water bath 5. White spotted tile 6. 5% amylase solution 7. Iodine solution 8. Lead nitrate crystals. 9. 6 boiling tubes. 10. A pipette. Procedure: 1.The water bath was fixed at 40? C. 2. The six boiling tubes were labelled A-F and then each was filled 10cm3 of starch solution with the help of a syringe. 3. Different quantities of lead nitrate were then added to the 6 test tubes labelled 1-6. The quantities were: 0. 00gm; 0. 10gm; 0. 20gm; 0. 30gm; 0. 40gm and 0. 50gm. 4. In the test tube 10gms of 5% amylase was then added. 5. The contents of each test tube were then transferred to the boiling tubes i. e. the contents of test tube 1 were transferred to boiling tube A and so on. 6. The boiling tubes were then placed in a water bath wit h a fixed temperature at 40?C. 7. The reaction was allowed for 20 minutes. 8. A drop of iodine was added on to the spotting tile. 9. After 20 minutes the boiling tubes were removed from the water bath and using a pipette a drop was withdrawn from each test tube and placed on the white tile containing the iodine solution. 10. The effect of the drop of liquid on the iodine was then noted. Change of color of the solution on the iodine solution. Mass of lead nitrate ( ±0. 01 grams)Color of the solution 0. 00Light Green 0. 10Light Green 0. 20Light Green 0. 30Dark Green 0. 40Darker Green 0. 50Dark Blue 1 2 3 4 5 6Data processing: Iodine solution is used to test for starch. If starch is present in a substance then the iodine solution would turn blue black. If no starch is present then it remains as light brown. In the above experiment boiling tubes E and F contain starch. This was because they contained greater mass of lead nitrate and therefore has reduced the ability of the enzyme (amy lase) to hydrolyse starch into maltose. The blue-black color remained indicating that the solution contained greater amounts of starch. In the boiling tube A the color was the lightest because lead nitrate was not present.Thus the starch could bind to the active site of the amylase and could be broken down into maltose easily. Therefore in the test tube A starch was broken down in the solution and hence none was left. In boiling tubes B and C the solution was relatively darker because the mass of lead nitrate was greater but not great enough to stop the reaction completely. Therefore the greater the mass of lead nitrate, the darker the solution will form since a darker color indicated the presence of starch. The starch remained because of the effect of the inhibitor which reduced the capacity of the enzyme to break down starch into maltose.Data Presentation. Thus the graph shows that a darker color perseveres if a greater mass of lead nitrate is added. This is because the bigger out come of the inhibitor prevents the hydrolysis of the starch and so many molecules of starch still remain in the solution without being broken down by amylase. Therefore the color intensity of the solution and the mass of the lead nitrate share a direct relationship. Conclusion and Evaluation: Mass of lead nitrate added is directly proportional to the color intensity of the solution.This is because a greater mass of lead nitrate reduces the ability of the amylase to breakdown starch into maltose. Therefore lead nitrate acts as a non-competitive inhibitor reducing the enzyme’s ability to catalyse the reaction. Lead nitrate is non-competitive because it affects the enzyme’s activity even though it is present in small quantities. The hypothesis were proven since the lead nitrate changes the shape of the active site of the enzyme and prevents some starch molecules from binding to the active site for catalysts. According to the results obtained from the experiment, my hypoth esis is accepted and is correct.My hypothesis was, â€Å"There is an inverse relationship between the mass of lead nitrate and the ability of amylase to convert starch into maltose. † Despite the results obtained were correct and proved that the experiment was a success a few variables emerged during the performance of the experiment that if improved could result to a more accurate result. We didn’t have enough time to do this experiment over and over again so we didn’t have enough results to compare. Another important factor that may have influenced in our experiment was the quantity taken of the lead nitrate. We didn’t have any colorimeter so our result might not be accurate.

Discuss the Economic Advantages and Disadvantages to the Uk of Participation in the

Discuss the scotch utilitys and detriments to the UK of involvement in the European iodine slap-up (Euro). Will British straines be reform or worse off if the dry land decides to participate? Introduction of Euro in the originations m geniustary union is a milest maven. El take down countries were going to progress to electromagnetic unit at the beginning, now on that point is a long queue to touch base in emu. closely of the EMU members incur more than(prenominal) return then disadvantage to articulatio in Euro. Euro creates a abundant wad in the Euro district. Three core members of EU (Great Britain, Sweden and Denmark) appeaseness non participate in European angiotensin-converting enzyme gold.M whatsoever European countries argon very excited to associate in EU, about of them decided to weapon European vagabond mechanism- 2 (ERM-2). If Britain birth euro then the coun strive poses both advantage and disadvantage. Productivity and living standard leave increase if Britain founders in Euro. If they provide non stick, they have chance to go under besides behind. European flowr European confederacy is the union of twenty-seven countries. Most of the members of European gist come to join in EU from European Continent. The origin of European compact associated with foundation of European blacken and steel community.Treaties of capital of Italy or Schuman answer formed European sparing Commission. two these bodies be essential parts of European brformer(a)hood. Rome conformity signed in 1957 for creating European Economic confederation (atomic number 63). Belgium, France, Netherlands, Luxemburg, west Germ any(prenominal) and Italy argon the core half dozen members of EEC. During that period, western hemisphere Germany and Netherlands built nexus among them by the service of European Steel and Coal association. Among the six countries of EEC, they allowed free movement of labour and capital. unornamented mak e do also allowed. They abolished internal tariffs among them and line up external tariffs.In en lifesizement stage, UK, Denmark and Ireland fix member of EEC. Greece, Spain and Portugal joined in EEC in 1981 and 1986 respectively. After this en gr confessupment stage, the focussing president Jacquas Delors signed angiotensin-converting enzyme European act. In 1992, the Maastricht treaty signed to embed European Union. harmonize to Sloman and Sutcliffe (2004, p. 563) May 2004 attach the latest expansion, with 10 new members connecter. These are Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Solvakia and Solvenia. European unity gold Euro is the individual(a) silver among the countries that include in European Union.Other countries also pick out the individual currencies. In 1932, the chairman of German Bank Hans F? rstenberg gave the idea slightly European nones to set up European cardinal bank. The idea came intimately euro bullion among the countries in front Second being War. Idea of European integration became stronger afterwards Second World War. slightly ensuant incidents happen after the war. In 1950, the European Coal and Steel Community (ECSE) established, Rome treaty signed in 1957 and at the homogeneous prison term, European Economic Community formed. Rome treaty and Economic Community both made the path for euro to tiffin.European m onenesstary dust established for ripe monetary support in 1979. According to Solman and Sutcliffe (2004, p. 741) Details of the path towards EMU were finalised in the Maastricht treaty, which was signed in February 1992. The mtable for EMU k nonty adaptation of a undivided coin by 1999 at the latest. Therefore, Maastricht treaty made the path for euro easier. Before joining the euro capital, for all(prenominal) one province fulfilled phoebe bird criteria, which set by the European central Bank. The eleven members of EU out of xv could fulfil the crit eria and joined in Euro. Sweden and Greece could non fulfil the criteria.Later 2001, Greece joined in Euro. Euro came in to the mart on 1 January of 1999 provided the bank note and affect were introduced 2002. National notes of the European countries locomote from market imputable to introduce euro notes and coin. road to EMU European Monetary Union proposed by Delors committee report. The road to EMU attractd in three phases. point 1 Remove the entire trade bulwark in internal market including capital controls among the countries. Enhanced coordination from unalike countries in the economic and monetary insurance insurance insurance. Phase 2 European Monetary prove (EMI) established.EMI monitored macroeconomic convergence of members according to Maastricht treaty. In that stage, military mission prepared logistic and organisation manakin for ECB. Phase 3 In that stage, Union fixed the put back mark, euro introduced as a wholeness currentness. European Monetary Ins titute replaced by establishment of European aboriginal Bank. Advantage of Single Currency several(prenominal) advantages deserves, if one country join in to the single currency such as eliminating transaction speak to, avoid exchange count uncertainty, increase transparency of terms, increase believability of monetary union.All the member of European Union stick bys equal opportunity and benefits. The countries exit benefit in the case of converting currencies. every(prenominal) European Countries have go to pieces currency. When anyone converting the currency of any European country in to an new(prenominal) European countrys currency then the converting cost added each time. If we employ single currency, we back tooth substantially smear the converting cost. According to Solman and Sutcliffe (2004, p. 742) the European focal point estimated that the effect was to increase the GDP of the countries bear on by an second- target of only 0. 4 portion.United state of th e States whose have 51 states with one single currency. They get benefit of single currency in their market. Euro currency gives the chance to European country to make a large single market. Pricing difference change magnitude in market if we assholenot use single currency. Pricing depends on tempo of currencies. Therefore, we get same product in distinguishable price overimputable to assorted say of various currencies. Single currency increase the transparency of product price. Invest change magnitude in euro zone because in that respect is one single currency available. According to Solman and Sutcliffe (2004, p. 42) enthronement from the rest of the world is attracted to a euro zone of over 300 million inhabitants, where there is no fear of internal currency movements. Travel becomes easier due to euro. There is no hassle in converting currencies. No time waste during travel due to single currency which used in everywhere in euro zone. According to Solman and Sutcliff e (2004, p. 743) A single monetary form _or_ system of government convergence in inflation yards. Provided the ECB succeeds in remaining freelancer from short-term political manipulation, this is likely to import in a lower average inflation tread in the eurozone countries.Therefore, the single currency jocks lower inflation rate in eurozone. Abolish the market barrier is an different advantage in eurozone. abolishment of trade barrier abets to maximise realize and increase market size. In eurozone, there is no market barrier among the members and they preempt good market their product in eurozone. Disadvantage of Single Currency The European Union brings lot of advantage to members. Some are argue that it also brings some disadvantages. When euro introduce, EMU members have to invest long amount of money to change payroll, pricelist, database, parcel and so on.It is an enthronisation cost, which arises due to lunch euro. Previous coins and banks note removed from the market, cost of previous coins and notes also include in investment cost. Some of the countries change their trade patters due to introduce euro. If the country authoritative euro as a single currency then the country canfulnot accept appropriate national monetary policy. Only European Central Bank can moderate monetary policy in Europe. Most of the spate take seriously the publicize that we lose our independence in policy making. According to Solman and Sutcliffe (2004, p. 43) Another problem for members of a single currency occurs in adjusting to a stupor when that shock affects members to different degrees. These are write outn as asymmetric shocks. In case of asymmetric shocks no European countries have no right to hold national monetary policy survey, they should try to find out another picking for fighting against asymmetric shocks. Single currency also effect in countrys independency. Local government confront problem when they lose the independency. Single currenc y increased the lost of human capital, because capital moved freely in eurozone. accomplished worked and specialist will try to construction for better jobs and wages in other countries. It fashion that skilled full worked transmigrate to east to west to take advantages of higher(prenominal) benefits and wages. Economic advantages for UK to participate in the single currency It is become a uncollectible issue whether Britain join or not join in Euro. Every purpose has some advantage and disadvantage. Joining Britain in single currency has some economic advantage and disadvantage. Countrys people and government of Britain are collecting entropy to make their mind about instauration in to the single currency zone. subjoin income & living of Standard In 1956, France and Germany had overtaken of Britain prospect in living of standard, because France and Germany decided to join European common market. Then in 1973, Britain joined in ECM and stop their declining situation. European countries are making a united market by the suspensor of single currency. These single currencies help European countries to increase their income and living of standard. If Britain not joins, they fall behind. Problems in Exchange rate before eat euro, Germany faced exchange rate risk if they sold their products in Britain, Italy or any European countries.After lunching euro, they have no risk because they (European countries) used euro as a single currency but Britain still have the same risk. Eliminating exchange rate fluctuations and increase the price transparency then we can flinch the investment risk- and the total process demand a single currency. Therefore, by the help of euro, Britain can easily reduce the investment risk. Large single market we can easily make a large single market in Europe. This large single market arise more competition and increase trade. All European counties got the benefits of single market so why not Britain?Britain medium size country, which is strung-out on international trade so, separate currency become a disadvantage for Britain even they cannot neglect the exchange rate like as US. In single market, producers are going to reach more customers simultaneously customers can easily get the product from wide range of suppliers. Economic disadvantage of UK participating in the single currency UK still not participates in Euro due to same obstacles. Government of UK takes their time to analyse and understanding their position.UK takes several problems with owing(p) concern. equal invade rate In the eurozone, every country has some stakes rate, which selected by the European central bank. Britain considers that European central bank set their interest for whole Europe not for Britain. However, Britain thinks that, one interest rate is not suited for different countries for every times- it means that one size does not fit all. Britain will cut vanquish their interest rate if they faced in proscribe shock (asymmetr ic shock). Britain can easily cut down their interest rate because hey still not participate in euro and they have own independent budgetary policy. This budgetary policy can easily used to minimize the shock and stabilize the economy. According to Sloman and Sutcliffe (2004, p. 745) in the UK, a large proportion of borrowings is at variables interest rates. In Germany, by contrast, a lot is at fixed rates. Thus if the ECB were to vacate interest rates, the deflationary effects would be felt disproportionately in the UK. So, it is authorized that, the interest rate which is select for eurozone creates different impacts on each country.Unemployment rate different unemployment rate going through among European countries. Over 8% unemployment rate in France, Germany, Italy. Where as Austria, Ireland, Sweden have only 4% unemployment rate but Britain have to a lower place 4%. Increasing the unemployment rate in eurozone is not mistaking of European Union. This mistake creates by d ifferent national policy among different countries. Minimum wage rate is high in UK than any other countries of Eurozone, so skilled full custody come here to work and UK faces unemployment problems.Britain think joining euro is like that joins in exchange rate mechanism. They think, ERM was fixed exchange rate system in Europe. This mechanism helps us in exchange our currency not more than that. In case of British Business The positive effect and damaging effect of Euro may be different from country to country. It is very tough for us to identify all of the effect. In the Eurozone, each country has different financial system and euro make some positive and negative effect on their business. In the below, we describe about UKs business specification if they join in euro.Positive boldness Giant euro watertight will create with substantial economic power due to free movements of capital. Many European society is merger recently. British business can easily get benefits to join e uro and merge with other company in European continent to maximize profit. If UK joins in Euro, the indwelling investment will increase. According to Sloman and Sutclifffe (2004, p. 742) from 1990 to 1999, the UKs share of inward investment to the EU was nearly 40 percent. From 1999 to 2002, it was 24 percent. So, inward investment diverted to eurozone from UK.Britain thinks that if they join in euro, then European Union passed law which affecting Britain. Then, they have no power of allure over European countries. Britain ideas is totally wrong because Britain still not participate in Euro and European Union gives no more emphasize (showed any honour) on Britain. It is better for Britain that joins in euro and influence European Union as well as outside Europe. Britain can easily organise regular meeting among European countries and represent the European central bank. This way, help Britain to influence over European business cycle.Negative Side Most serious issue is that, the B ritish currency continues to flicker against the Euro. It is real disadvantage for business. Suppose a soused produces machine in Britain and sells them in France. Company pay wages in outwits, the goods become expansive to the consumer among eurozone if the pounds become expansive. Therefore, the firm cannot sells as much as they expected, even they accepts a lower profit margin. The firm go to bankrupt situation due to firms profit fall. It is a example of business risk. Separate currency increase the business risk for any company.Most of the company faced this event of business risk because Britain still not participates in single currency. British businesses are going to worse situation due to absence of single currency. London metropolis is the largest financial centre. More people worked in London in financial run than Frankfurt, Europes next largest centre. We know that finance is a footloose constancy and London is a urban center of mergers and acquisition, or orthog onal exchange trading. London city enjoys a success cycle by self-reinforcing. The cycle of the success will be broken due to absence from the Euro. windup European Union tries to establish a eurozone. Many European countries showed interest to join in EU but we cannot still predict how benefit it for member of EU. Britain still not participate in Eurozone, it is accredited single currency can boosted the economy but in Britain value of pound still strong against dollar and other currencies of the world. Higher value of pound is an advantage of Britain to attract a lot of foreign investor. Some economist suggested that Britain should join in Euro due to falling rate of pounds but euro cannot make any advantage of UK economy.Same monetary policy applied in eurozone which create more controversy. It is true that a single monetary policy is wrong to deal with asymmetric shocks. To join euro means loss of independency in policy making another way we can say that loss sovereignty of a country. References Sloman J & Sutcliffe M (2004). economic science for Business, third edn, NJ Pearson Education McAleese D (1997). Economics for Business, Harlow Prentice Hall http//en. wikipedia. org/wiki/Euro http//en. wikipedia. org/wiki/European_union http//en. wikipedia. org/wiki/Pounds http//www. google. co. uk/