Tuesday, December 31, 2019

The Scarlet Letter By Nathaniel Hawthorne - 1335 Words

Nothing is more powerful than the feeling one gets when they have committed a wrong doing in their life. Sometimes, guilt can cause a person to suffer so terribly that they end up doing things that they usually would not do. Guilt has an enormous effect on a person, and could change their life forever. Committing a sin causes the feeling of guilt inside a person. The person usually feels as if they deserve to be punished for what they did. The punishment for guilt could be shown either privately or publicly. Nathaniel Hawthorne shows these different punishments and how either private or public punishment affects the characters. Guilt can change a person by making them hate themselves and believe that they are at fault. In the novel The Scarlet Letter by Nathaniel Hawthorne, guilt is illustrated throughout Roger Chillingworth, Hester Prynne, and Arthur Dimmesdale, making these character suffer from guilt, which shows the powerful effect of guilt. The effect of guilt is extremely powe rful on a person, and it could make them suffer internally or externally. Guilt is depicted on Hester when she has a daughter, Pearl with another man that is not her husband. This man that she had a child with, and is her co sinner is Arthur Dimmesdale. Throughout the novel, Dimmesdale feels guilt because he knows that he betrayed God and committed a sin. During this time period, the Puritans believed in deeply in God, and only did practices that were appropriate towards God. As aShow MoreRelatedThe Scarlet Letter By Nathaniel Hawthorne1242 Words   |  5 PagesLYS PAUL Modern Literature Ms. Gordon The Scarlet Letter The scarlet letter is book written by Nathaniel Hawthorne who is known as one the most studied writers because of his use of allegory and symbolism. He was born on July 4, 1804 in the family of Nathaniel, his father, and Elizabeth Clark Hathorne his mother. Nathaniel added â€Å"W† to his name to distance himself from the side of the family. His father Nathaniel, was a sea captain, and died in 1808 with a yellow fever while at sea. That was aRead MoreThe Scarlet Letter By Nathaniel Hawthorne960 Words   |  4 Pages3H 13 August 2014 The novel, The Scarlet Letter, was written by the author Nathaniel Hawthorne and was published in 1850 (1). It is a story about the Puritan settlers of the Massachusetts Bay Colony, set around 1650 (2). The story is written in the third person with the narrator being the author. The common thread that runs through this novel is Hawthorne’s apparent understanding of the beliefs and culture of the Puritans in America at that time. But Hawthorne is writing about events in a societyRead MoreThe Scarlet Letter, By Nathaniel Hawthorne919 Words   |  4 Pagessymbolism in Nathaniel Hawthorne’s â€Å"The Scarlet Letter†. Symbolism is when an object is used in place of a different object. Nathaniel Hawthorne is one of the most symbolic writers in all of American history. In â€Å"The Scarlet Letter†, the letter â€Å"A† is used to symbolize a variety of different concepts. The three major symbolistic ideas that the letter â€Å"A† represents in Nathaniel Hawthorne’s â€Å"The Scarlet Letter† are; shame, guilt, and ability. In Nathaniel Hawthorne’s â€Å"The Scarlet Letter†, the firstRead MoreThe Scarlet Letter By Nathaniel Hawthorne1397 Words   |  6 PagesFebruary 2016 The Scarlet Letter was written by Nathaniel Hawthorne in 1850 which is based on the time frame of the Puritans, a religious group who arrived in Massachusetts in the 1630’s. The Puritans were in a religious period that was known for the strict social norms in which lead to the intolerance of different lifestyles. Nathaniel Hawthorne uses the puritan’s strict lifestyles to relate to the universal issues among us. The time frame of the puritans resulted in Hawthorne eventually thinkingRead MoreThe Scarlet Letter By Nathaniel Hawthorne999 Words   |  4 Pages Nathaniel Hawthorne is the author of the prodigious book entitled The Scarlet Letter. In The Scarlet Letter, Hester Prynne commits adultery with Reverend Arthur Dimmesdale. Her husband, Roger Chillingworth, soon finds out about the incident after it becomes clear that she is pregnant. The whole town finds out and Hester is tried and punished. Meanwhile, Roger Chillingworth goes out then on a mission to get revenge by becoming a doctor and misprescribing Dimmesdale. He does this to torture DimmesdaleRead MoreThe Scarlet Letter, by Nathaniel Hawthorne1037 Words   |  5 Pagesthat human nature knows right from wrong, but is naturally evil and that no man is entirely â€Å"good†. Nathaniel Hawthorne, author of the classic novel The Scarlet Letter, believes that every man is innately good and Hawthorne shows that everyone has a natural good side by Hester’s complex character, Chillingworth’s actions and Dimmesdale’s selfless personality. At the beginning of the Scarlet Letter Hester Prynne is labeled as the â€Å"bad guy†. The townspeople demand the other adulterer’s name, butRead MoreThe Scarlet Letter By Nathaniel Hawthorne1517 Words   |  7 PagesNathaniel Hawthorne composes Pearl as a powerful character even though she is not the main one. Her actions not only represent what she is as a person, but what other characters are and what their actions are. Hawthorne makes Pearl the character that helps readers understand what the other characters are. She fits perfectly into every scene she is mentioned in because of the way her identity and personality is. Pearl grows throughout the book, which in the end, help the readers better understandRead MoreThe Scarlet Letter, By Nathaniel Hawthorne1488 Words   |  6 Pages In Nathaniel Hawthorne’s novel The Scarlet Letter, the main character, Hester Prynne, is a true contemporary of the modern era, being cast into 17th century Puritan Boston, Massachusetts. The Scarlet Letter is a revolutionary novel by Nathaniel Hawthorne examining the ugliness, complexity, and strength of the human spirit and character that shares new ideas about independence and the struggles women faced in 17th century America. Throughout the novel, Hester’s refusal to remove the scarlet letterRead MoreThe Scarlet Letter By Nathaniel Hawthorne1319 Words   |  6 PagesPrynne and Arthur Dimmesdale are subject to this very notion in Nathaniel Hawthorne s The Scarlet Letter. Hester simply accepted that what she had done was wrong, whereas Dimmesdale, being a man of high regard, did not want to accept the reality of what he did. Similar to Hester and Dimmesdale, Roger Chillingworth allows his emotions to influence his life; however, his influence came as the result of hi s anger. Throughout the book, Hawthorne documents how Dimmesdale and Hester s different ways of dealingRead MoreThe Scarlet Letter By Nathaniel Hawthorne1714 Words   |  7 PagesSome two hundred years following the course of events in the infamous and rigid Puritan Massachusetts Colony in the 1600s, Nathaniel Hawthorne, descendant of a Puritan magistrate, in the 19th century, published The Scarlet Letter. Wherein such work, Hawthorne offered a social critique against 17th Massachusetts through the use of complex and dynamic characters and literary Romanticism to shed light on said society’s inherent contradiction to natural order and natural law. In his conclusive statements

Monday, December 23, 2019

Supply Chain Management in Hospital a Case - 3654 Words

Supply Chain Management in Hospital: A Case Study Samuel Toba †¢ Mary Tomasini †¢ Y. Helio Yang San Diego State University, San Diego, CA It is a common misunderstanding that hospital purchasing is just a functional part of operations rather than a strategic means to achieve financial cost savings. The supply chain process is the essential link for all programs and services offered by a hospital, and hence any improvement in managing the supply chain can positively impact bottom line profitability of any hospital’s operations. This paper provides an overview of the current issues in supply chain management that today’s hospitals face as well as a look at the measures that a case health organization has taken in managing this aspect of†¦show more content†¦Located in nine states, KP currently is the largest not-for-profit medical care organization in the United States with approximately 8.7 million health plan members, 150,000 employees, 13,729 physicians, 32 medical centers, 416 medical offices, and $28 billion in annual operating revenue. Kaiser Permanente is unique among health care providers a nd hospitals because it serves both as a health maintenance organization and as a group physicians practice provider. Its revenue model is not based by the number of cases or patients served each day, but rather by the number of members enrolled in their health care system. Hence, Kaiser Permanente tracks costs at the gross level view of average cost per nursing unit per patient day. IV. PRODUCT MANAGEMENT Healthcare industry is a cottage industry where clinicians are independent contractors with considerable clout and specific preferences for supplies and some variations in supplies and processes are accommodated to ensure patient safety (Scalise, 2005). These Physician Preference Items (PPIs) account for 40% of total medical supply spending for an average hospital (Volpe, 2007). However, hospitals are beginning to recognize the financial burden of allowing physicians the autonomy to order whatever supplies they choose. One of the opportunities for supply chain savings as identified from the 2005 survey by the Healthcare Financial Management Association is in the area of physician buy-in especially withShow MoreRelatedThe Complexities of Healthcare Supply Chains 855 Words   |  3 PagesHealthcare Supply Chains The healthcare supply chain shares a number of similarities with other chains, not only in terms of processes (e.g. procurement, warehousing, distribution), but also in terms of discerning customers and management structures. There are also differences in the chain that are related to the specific characteristics and requirements of the sector. In general, healthcare supply chains are very complex, diverse, and dynamic. That complexity arises from the numerous companiesRead MoreHospital Supply Chain Management1732 Words   |  7 PagesSupply Chain 1 I Care Healthcare Supply Chain Management By Jeffrey S. Moser Operations Management MGT 554 Professor Stephen Wernick October 12, 2004 Supply Chain 2 Supply Chain Management plays a vital role in our hospitals today. With the growing cost of healthcare and new technologies, it is vital for hospitals to run as efficiently as possible and without jeopardizing care. To the materials manager and to the financial minds of a hospital the area of supply chain is a tedius task at bestRead MoreSupply Chain Management And Healthcare Industry1745 Words   |  7 PagesSupply Chain Management –For Healthcare Industry Introduction: Economic downturn in Healthcare sector has given renewed importance to supply chain management in healthcare industry. Supply chain management has great effects on hospital organizations. On papers Supply chain accounts for 30 to 40% in healthcare industry but that is only if we consider just the cost of goods under the supply chain , instead if we look at factors like cost of inventory , cost of procuring and other costs associatedRead More Hospital Supply Chain Management Essay1640 Words   |  7 PagesCare Healthcare Supply Chain Management Supply Chain Management plays a vital role in our hospitals today. With the growing cost of healthcare and new technologies, it is vital for hospitals to run as efficiently as possible without jeopardizing care. To the materials manager and to the financial minds of a hospital the area of supply chain is a tedius task at best, the kind of planning, strategizing and measuring that seldom goes recognized and rewarded. The work involved with inventory controlRead MoreAgile and Lean Supply Chain Management1719 Words   |  7 Pages Leagile is the combination of the lean and agile paradigms within a total supply chain strategy by positioning the decoupling point so as to best suit the need for responding to a volatile demand downstream yet providing level scheduling upstream from the marketplace. The decoupling point separates the part of the organisation (supply chain) oriented towards customer orders from the part of the organisation (supply chain) based on planning. In this report, I attempt to prepare the literature reviewRead MoreVideo Case Arnold Palmer Hospital S Supply Chain Essay639 Words   |  3 Pagesï » ¿ Video Case: Arnold Palmer Hospital’s Supply Chain Arnold Palmer Hospital, one of the nation’s top hospitals dedicated to serving women and children, is a large business with over 2,000 employees working in a 431-bed facility totaling 676,000 square feet in Orlando, Florida. Like many other hospitals, and other companies, Arnold Palmer Hospital had been a long-time member of a large buying group, one servicing 900 members. But the group did have a few limitations (Heizer Render,Read MoreHow Healthcare Has Become A Hotbed Of Technology1282 Words   |  6 Pagesconsistent, reliable, and effective if it is to continue to attract and satisfy customers. Continuing with this methodology, a critically important facet of the healthcare industry must be stock and inventory management, especially with some of the high cost medical equipment prevalent in hospitals globally. Ironically, this is often the department that is given least consideration as it does not directly relate to the care provided to patients, that is, until recently. Coinciding with a push towardRead MoreSupply Chain Management within the Healthcare Sector926 Words   |  4 PagesSupply chain management With the aging of the population and the increasing developments of technology, healthcare facilities are more and more pressured to provide high quality medical services. This increasing stress associated with the changing needs of the population forces the healthcare providers to also develop and to adjust their operations. Specifically, they are informally required to place an increased emphasis on the administrative and business side of their operations. In this specificRead MoreA More Granular Breakdown Of The Four Categories Shown1196 Words   |  5 Pagespublicized examples of supply-chain implementations sourced from healthcare and hospital environments; †¢ Case studies and related articles: studies, white papers, and published dissertations with a specific focus on the healthcare supply chain; †¢ Supply chain publications and websites: organizations and associations specific to healthcare supply-chain management, including The Association for Healthcare Resource and Materials Management, Healthcare Purchasing News, and Supply Demand Chain Executive. MethodologyRead Morehardy hospital case study answers Essay1426 Words   |  6 PagesRead and Download Ebook Hardy Hospital Case Study Answers PDF at Online Ebook Library HARDY HOSPITAL CASE STUDY ANSWERS PDF Download: HARDY HOSPITAL CASE STUDY ANSWERS PDF Are you seeking Ebook HARDY HOSPITAL CASE STUDY ANSWERS PDF?. Getting Ebook Hardy Hospital Case Study Answers PDF is simple as well as easy. Mostly you have to spend much time to browse on search engine and does not obtain Ebook Hardy Hospital Case Study Answers PDF files that you require. We are below to offer you, so you can

Saturday, December 14, 2019

International Finance Free Essays

The nomenclature of the global economic arena Is the saying that the world Is flat and that It comes In a full circle; but where corporate power has transcended barriers and territorial borders, Terrorism remains as the bane of existence. Terrorism Is that plague that reeks In every corporate dominated land. It wasn’t Just the twin WET towers plummeting at the darted vision of terror but it was the networked failure of man’s economic progress. We will write a custom essay sample on International Finance or any similar topic only for you Order Now The global news of today is resplendent of the clatter of bullets, the tyranny of armed tanks and most importantly, the breakthrough of man’s bestial brutality. Truncated calls, crashing stock markets, wary economists; the economic world witnessed the horror on 9/1 1, 26/11 etc. Brokers lay crestfallen, investors chose survivals over super profits; above all, the business of man failed. The first question that can be gawked on is how does the economy of the world suffer after the aftermath of a terrorist activity? In the advent of superior globalization, countries favor entry Into the markets by relying on exporting goods and services, which leads to the feasibility of rapid and broad outlook of global markets; It will also reduce the heavy dependence on high remissive physical faceless, which can offer much understandability, flexibility for reacting to unforeseeable market changes and rapid adjustments. Foreign direct Investment or FDA remains one of the key backstabbers for an aspiring global economy. Major investments in major countries of the world stand on shaky ground when such events happen in the light of the economy. When it comes to global economics, transaction costs and economies of scale, Foreign Direct Investment is a priority among financial planners, but the risky affair of dwindling between what is to e injected in the economy and what is to be exported are deemed to be worrisome. Global Markets have the trend to reprimand failure more severely than rewarding success, which have made risk minimizing strategies a pathway for business promoters and planners. The yester years before the first fatal blow of terrorism to the global business arena saw a stupendous growth of International ventures; but after the wrath experienced by the international markets: it took into concentrating of domestic affiliations and concentrations. This was evident by the fall of international monetary saving and faith. Money laundering has led to the modern day malaise of terrorism financing. Tightening money laundering laws in the United states still remain ineffective at the gawking reality of a global banking giant- HASH having fallen prey to such accusations. Hash’s banking activities in Saudi Arabia, specifically activities pertaining to referencing banking with AY Rajah Bank were brought under the radar. An investigation claimed that the Saudi bank had financed terrorist activities In purview of the September 11 investigations. In fact, it is now Infamously known as the- â€Å"Early Financial benefactor of the al- Qaeda†. Although, there was a hiatus In the banking transactions of HASH and AY Rajah bank; but both the banks have resumed their dealings. Two Bangladesh banks have been accused on salary grounds. Tighter norms and stringent Basel laws could be the trump card but the Course structures pertaining to international business have witnessed a setback in lieu of worsening international ties; it is well evident by the declining education of international studies in the United States, as per the stats relating to enrollments in International Business Courses and Foreign language courses. During the past few ears, managers have moved from the focus of proactive exploration concerning international opportunities in the global arena to a rather defensive posture that emphasizes on the vulnerability of foreign operations and global threats. The September 11 attack alone caused around 40 billion of insurance losses in USA. There was an liquidity need addressed by the federal reserve along with the delay of major global stock markets like NYSE, FETES etc. The nightmares of the Ells (Foreign institutional Investors has Just begun with the sharp shoot ups of the gold and other commodities prices. As the dollar recovered, it rather showed how the economy could have a domino effect in Just a moment of a terror attack. Although stocks recovered from the short bearish phase of the 26/11 attack in Iambi; it can’t offer a solution for the momentary involuntary losses in the global economy. The worst part is that how can a manager appropriate against such costs? The cost of human labor, wealth and resources? It is not Just the infrastructure being marred or the sabbatical day being a black day but it is the vulnerability of corporate giants in front of the tryst with terrorism. The cost born for provisioning against such losses cannot be anticipated. They can seep through any advent of the business; whether it’s the hijacked plane or the bakery which gets bombarded; the vivid imagination of terror cripples the masculinity of business. The real question that looms on every single business maker is that who is supposed to bear this impossible to inappropriate cost? The government or the various international bodies? Yes, there is indeed something scarier than the sublime crisis, and it is the sublime crisis of human empathy and brotherhood. What might seem as the biggest looming threat to the business of the world can actually be a way to fight this common malaise forever. It is the world cooperation of various international bodies and government bodies including multinational corporations to bring an end to this plaguing condition. In the face of such a terror; the rescue can only be the pooled efforts of every individual who dreams of international cooperation and benefit. Rather than basking on the indifference curve, it might be the time of our corporate lives to pull our socks even higher; so that each individual with its own competence forms the army of seamless unity and strength. How to cite International Finance, Papers International Finance Free Essays string(40) " of which are foreign-affiliated banks\." Abstract: The assignment requires one to select one major economic sector in Tanzania and †¢Evaluate the FDI’S flow and †¢the importance of FDI’s in that sector during the past 4 years. †¢Identify the likely impairing factors to FDI’s in that sector. †¢Recommend what the government should do to attract more FDI’S Method After selecting the one major economic sector which is Agricultural sector, data were requested which will provide the end results of this assignment. We will write a custom essay sample on International Finance or any similar topic only for you Order Now ? Table of Contents 1. Introduction: Tanzania’s Economy4 2. Evaluation of Tanzania’s FDI’s flow5 . Importance of FDI in Agriculture in the past 4 years7 †¢Capital:7 †¢Technology:8 †¢Market Access:8 4. Factors Impairing FDI’s in Tanzania8 †¢Poor Infrastructure8 †¢Capacity8 †¢Bureaucracy8 †¢Corruption9 †¢Seasonality9 †¢Access to finance9 †¢Regulatory framework9 5. Recommendation to attract more FDI’s10 6. Conclusion10 References. 12 1. Introduction: Tanzania’s Economy Tanzania is one of the world’s poorest economies in terms of per capita income, with GDP growth of average 7% per year between 2000 and 2008 on strong gold production and tourism. However, the economy heavily depends on agriculture, which accounts for more than one-fourth of GDP, provides 85% of exports, and employs about 60% of the work force. Tanzania also depends on the World Bank, the IMF, and bilateral donors to provide funds to rehabilitate Tanzania’s aging economic infrastructure, including rail and port infrastructure that are important trade links for inland countries. With the recent banking reforms that have helped increase private-sector growth and investment, and the government has increased spending on agriculture to 7% of its budget. Continued donor assistance and solid macroeconomic policies supported a positive growth rate, despite the world recession. Also, in 2008, Tanzania received the world’s largest Millennium Challenge Compact grant, worth $698 million. Dar es Salaam used fiscal stimulus and loosened monetary policy to ease the impact of the global recession. GDP growth in 2009-10 was a respectable 6% per year due to high gold prices and increased production. Tanzania’s economy was forecast to grow by 7. 2 percent in 2012, up from an estimated 6. 0 percent this year, provided weather conditions improve as reported by the International Monetary Fund (IMF). However, Tanzania’s economy will grow by a median 6. 7 percent this year from 7. 0 percent last year, weighed down by chronic energy shortages, as reported by a Reuter’s poll. The median forecast by a poll of 11 analysts showed gross domestic product would rebound to 7. 1 percent next year in east Africa’s second-largest economy. The downside risks to the growth outlook emanate mostly from the power rationing that has been going on in the country. It has compelled firms to resort to less productive sources of power. The Washington-based body earlier this year cut its 2011 growth projection for Tanzania from 7. percent because of widespread power outages triggered by drought in the predominantly hydropower producing country. Africa’s fourth biggest gold producer, Tanzania mainly depends on tourism, mining and agriculture and is increasingly attracting higher investor interest in telecommunications, energy, manufacturing, financial services and transport. 2. Evaluation of Tanzania’s FDI’s flow The Government of Tanzania (GOT) generally has a favorable attitude toward foreign direct investment (FDI) and has made significant efforts to encourage foreign investment. After several years of growing FDI, new FDI declined sharply from USD 6. 68 billion in 2008 to USD 2. 3 billion in 2009. The number of new foreign projects registered at TIC dropped to 503 last year from 768 in 2008. There is no restriction in foreign exchange. Foreign investors generally receive national treatment; however, the Tourism Act of 2007 bars foreigners from engaging in some tourism-related businesses. The Dar Es Salaam Stock Exchange forbids companies with more than 60 percent foreign ownership from listing. There are no laws or regulations authorizing private firms to limit or prohibit foreign investment, participation, or control, and firms generally do not restrict foreign participation in practice. The global economic crisis had minimal impact on the Tanzanian financial sector due to its relatively low global integration, however tourist arrivals dropped up to 20 percent, new tourist projects fell by 50 percent, and FDI dropped within the natural resource sector, resulting in layoffs at gold mining firms and stalled mineral and gas exploration and development projects. The Tanzanian Investment Center (TIC), established by the Tanzanian Investment Act of 1997, is the focal point for all investors’ inquiries, screens foreign investments, and facilitates project start-ups. Filing with TIC is not mandatory, but offers incentives for joint ventures with Tanzanians and wholly owned foreign projects above USD 300,000. The review process takes up to 10 days, and involves multiple GOT agencies, which are required by law to cooperate fully with TIC in facilitating foreign investment, but in practice can create bureaucratic delays. TIC continues to improve investment facilitation services, provide joint venture opportunities between local and foreign investors, and disseminate investment information. TIC does not have specific criteria for screening or approving projects, but considers factors such as: foreign exchange generation and savings, import substitution, employment creation, linkages to the local economy, technology transfer, and expansion of production of goods and services. Among investment and trade opportunities promoted by the TIC are agriculture, mining, tourism, telecommunications, financial services, and energy and transportation infrastructure. The Economic Processing Zones Act 2006 authorized the establishment of Special Economic Zones (SEZs) to augment investments in the light industry, agro-processing industry and agriculture sectors. Greenfield foreign direct investments are allowed through this legislation. The Export Processing Zones Authority continues to promote Export Processing Zones (EPZ) to attract investments in agribusiness, textiles and electronics and Spatial Development Initiatives (SDI). Investors in EPZs are eligible for tax exemptions. Investments on the Dar es Salaam Stock Exchange (DSE) are open to foreign investors, but capped at 60 percent. Foreign investors are barred from participating in government securities. The financial sector has continued to expand, with an increase in foreign-affiliated financial institutions and banks operating in Tanzania. As of December 2009, the Bank of Tanzania listed a total of 27 commercial banks licensed and operating in Tanzania, over half of which are foreign-affiliated banks. You read "International Finance" in category "Essay examples" Competition among these foreign commercial banks has resulted in significant improvement in the efficiency and quality of financial services. Tanzania expected to increase foreign direct investment (FDI) by 16 percent in 2010 from $645 million last year as the global economy recovers. Foreign direct investment in 2009 dropped from $679 million the year before as a result of the global financial crisis. The FDI inflows into east Africa’s second largest economy were expected to surge to $800 million in 2011. Tanzania’s economy mainly depends on tourism, mining and agriculture. Its telecommunications, energy, manufacturing, financial services and transport sectors are attracting rising investor interest. It is expected that most of the investments in 2010/11 will focus on tourism, agriculture and telecoms. The government is implementing investment reforms to woo foreign capital. According to the World Bank’s Doing Business in the East African Community 2010 report, Tanzania fares poorly in key areas such as closing and starting a business, protecting investors, access to credit, cross border trade and issuance of construction permits. 3. Importance of FDI in Agriculture in the past 4 years Tanzania has more than 44 million hectares of arable land, and a wide variety of ecological zones, climates and water resources. The country could feed most of the East, Central and Southern African countries with food deficits. 80% of the population in Tanzania lives in rural areas and are in some way or another depending on agriculture. The agricultural sector is vital to Tanzania’s economy and therefore also to the reduction and eradication of poverty. Other advantages of FDIs in agricultural sector in Tanzania are as follows: †¢Capital: First and foremost FDI brings much needed capital to Tanzania. This helps the country to achieve rates of domestic investment higher than their domestic savings. Besides, the financial resources that FDI brings in are in long term and non-debt creating. †¢Technology: There are a number of ways in which FDI through TNCs can help develop indigenous technology. Firstly TNCs usually bring in modern technology in agriculture and practices to Tanzania and help it upgrade its existing technology. †¢Market Access: TNCs in the agricultural sector has enabled Tanzania to better exploit its comparative advantage in international trade and thus gain access to global markets. 4. Factors Impairing FDI’s in Tanzania †¢Poor Infrastructure Lack of stable power has led to power outages throughout the country. It has compelled firms to resort to less productive sources of power. These power outages triggered by drought due to high reliance in the predominantly hydropower. Another significant constraint to improving FDI in Tanzania through agriculture is poor infrastructure within Tanzania. Insufficient investment in the road network has resulted in just 4,000 kilometers of Tanzania’s 85,000 km road network being paved. Most of these unpaved roads are feeder roads in rural areas, and many routes become impassable after heavy rains. The country’s two railway systems are also unreliable, with dilapidated infrastructure and outdated rolling stock. Capacity TIC currently lacks the capacity to address the complicated and non-transparent investment clearance processes, to collect comprehensive and timely data for the research needed to facilitate both policy making and investment decision-making. †¢Bureaucracy Bureaucratic intransigence continues to pose a severe obstacle to do ing business in Tanzania as in the rest of East Africa. Investors looking to startup businesses in Tanzania often complain about the level of red tape associated with issues such as the issuance of business licenses, company registration, building permits, land certificates and taxation. Corruption Corruption is an endemic problem in Tanzania and is often cited as one of the biggest hindrances to doing business. The World Bank 2006 Enterprise Survey indicates that 49. 5% of the surveyed companies reports that they expect to make informal payments to achieve specific goals. According to the 2006 IFC-World Bank Enterprise Survey, 20% of the companies surveyed expect to give gifts or make informal payments to get an operating license, and 32% to get a construction permit. †¢Seasonality More than 75% of Tanzanian enterprises are heavily affected by seasonality, whereby farmers sell their produce when prices are lowest and buy inputs for the next cropping season when prices are highest. †¢Access to finance Most enterprises in the rural areas are small scale and engage in or rely on agriculture. Bearing the above constraint, these small enterprises have a comparatively high risk, high transaction costs and low volumes, limiting access to capital. †¢Regulatory framework The economic growth potential of investments in agricultural land is questionable due to an inadequate regulatory framework governing (FDI) in the sector. FDI in agricultural sector in Tanzania can even jeopardize local resource users land rights. In such that farmers are giving away their most valuable assets to profit-seeking entities, based on information asymmetries and persuasion. 5. Recommendation to attract more FDI’s Including the ongoing reforms to woo investments, TIC continues to improve investment facilitation services, provide joint venture opportunities between local and foreign investors, and disseminate investment information. In order to attract more FDIs in the agricultural sector and to increase productivity and high quality output, effort is needed to understand and eliminate the barriers to smallholders that inhibit the growth of productivity. The structural problems facing smallholders such as limited access to information, to input and output and financial markets need rethinking that will attract more FDI to the sector. Such an arrangement would involve smallholders being better organized in producer associations. Producer associations can improve productivity, reduce costs through supply chain linkages and improve competitiveness. They manage to do so by improving access to necessary and affordable input (technologies and credit). The second challenge is to build integration of production, transport, processing and marketing to take advantage of supply and demand value addition. Third is to ensure the introduction of innovation and knowledge on a continuing basis without subjecting members to high consultancy fees given the socio-economic conditions of smallholders. 6. Conclusion Apart from general determinants such as macroeconomic stability, efficient institutions, political stability and a good regulatory framework, the smallholder institutional setup has positive impact on FDI flow into the sector. It has been observed that crops whose smallholders are well organized attracted more FDI. An important implication of the result is that FDI to the agricultural sector is not solely driven by policies and incentives to foreign investment and that the institutional setup of smallholder farmers can play an important role in promoting investments to the sector. In the short and medium term, efforts to foster integration and creation of strong bonds between smallholders and investors through integrated producer schemes can increase FDI to the sector and thus increase productivity. Other determinants such as investment regulatory frameworks, policies that promote macroeconomic economic stability, and improved physical infrastructure also have a role to play both in the short and long run. In the long run, more FDI can be attained by developing strong institutions in all sectors. ? How to cite International Finance, Essay examples International Finance Free Essays Chapter 4 Practice Problems Percentage Depreciation †¢ Assume the spot rate of the British pound is $1. 73. The expected spot rate one year from now is assumed to be $1. We will write a custom essay sample on International Finance or any similar topic only for you Order Now 66. What percentage depreciation does this reflect? †¢ ($1 66 – $1 73)/$1 73 = –4. 05% ($1. 66 $1. 73)/$1. 73 4 05% Expected depreciation of 4. 05% percent Inflation Effects on Exchange Rates †¢ Assume that the U. S. inflation rate becomes high relative to Canadian inflation. Other things being equal, how should this affect the (a) U. S. demand for Canadian dollars, (b) supply of Canadian dollars for sale, and (c) equilibrium value of the Canadian dollar? Demand for Canadian dollars should increase, ? Supply of Canadian dollars for sale should decrease, and ? The Canadian dollar’s value should increase. 1 Interest Rate Effects on Exchange Rates †¢ Assume U. S. interest rates fall relative to British interest rates. Other things being equal, how should this affect the (a) U. S. demand for British pounds, (b) supply of pounds for sale, and (c) equilibrium value of the pound? ? Demand for pounds should increase, ? Supply of pounds for sale should dec rease, and ? The pound’s value should increase. Income Effects on Exchange Rates †¢ Assume that the U. S. income level rises at a much higher rate than does the Canadian income level. Other things being equal, how should this affect the (a) U. S. demand for Canadian dollars, (b) supply of Canadian dollars for sale, and (c) equilibrium value of th Canadian dollar? f the C di d ll ? ? Assuming no effect on U. S. interest rates, demand for dollars should increase, ? Supply of dollars for sale may not be affected, and ? The dollar’s value should increase. Trade Restriction Effects on Exchange Rates †¢ Assume that the Japanese government relaxes its controls on imports by Japanese companies. Other things being equal, how should this affect the (a) U. S. demand for Japanese yen, (b) supply of yen for sale, and (c) equilibrium value of the yen? ? Demand for yen should not be affected, ? Supply of yen for sale should increase, and ? The value of yen should decrease. 2 Effects of Real Interest Rates †¢ What is the expected relationship between the relative real interest rates of two countries and the exchange rate of their currencies? ? The higher the real interest rate of a country relative to another country, the stronger will be its home currency, other things equal. Speculative Effects on Exchange Rates Explain why a public forecast about future interest rates could affect the value of the dollar today. Why do some forecasts by well-respected economists have no impact on today’s value of the dollar? ? Speculators can use anticipated interest rate movements to forecast exchange rate movements. ? Th may purchase f i securities b They h foreign iti because of th eir f th i expectations about currency movements, since their yield will be affected by changes in a currency’s value. ? These purchases of securities require an exchange of currencies, which can immediately affect the equilibrium value of exchange rates. It was already anticipated by market participants or is not different from investors’ original expectations. Interaction of Exchange Rates †¢ Assume that there are substantial capital flows among Canada, the U. S. , and Japan. If interest rates in Canada decline to a level below the U. S. interest rate, and inflationary expectations remain unchanged, how could this affect the value of the Canadian dollar against the U. S. dollar? ? If interest rates in Canada decline, there may be an increase in capital flows from Canada to the U. S. ? In addition, U. S. investors may attempt to capitalize on higher U. S. interest rates, while U. S. investors reduce their investments in Canada’s securities. ? This places downward pressure on the Canadian dollar’s value. 3 Interaction of Exchange Rates †¢ How might this affect the value of the Canadian dollar against the Japanese yen? ? Japanese investors that previously invested in Canada may , p shift to the U. S. Thus, the reduced flow of funds from Japan would place downward pressure on the Canadian dollar against the Japanese yen. Relative Importance of Factors Affecting Exchange Rate Risk †¢ Assume that the level of capital flows between the U. S. and the country of Krendo is negligible and will continue to be. But there is a substantial amount of trade between the U. S. and the country of Krendo. Which affect, high inflation or high interest rates will be seen in the value of the Krendo’s currency? Krendo s †¢ The inflation effect will be stronger than the interest rate effect because inflation affects trade flows. ? The high inflation should cause downward pressure on the kren. Speculation †¢ Blue Demon Bank expects that the Mexican peso will depreciate against the dollar from its spot rate of $. 5 to $. 14 in 10 days. The following interbank lending and borrowing rates exist: U. S. dollar Mexican peso Lending Rate Borrowing Rate 8. 0% 8. 3% 8. 5% 8. 7% Assume that Blue Demon Bank has a borrowing capacity of either $10 million or 70 million pesos in the interbank market, depending on which currency it wants to borrow. How could Blue Demon Bank attempt to capitalize on its expectations without using deposi ted funds? Estimate the profits that could be generated from this strategy. 4 Speculation 1. Borrow MXP70 million 2. Convert the MXP70 million to dollars: MXP70,000,000 ? $. 15 = $10,500,000 3. Lend the dollars through the interbank market at 8. 0% annualized over a 10-day period. The amount accumulated in 10 days is: $10,500,000 ? [1 + (8% ? 10/360)] [ ] = $10,500,000 ? [1. 002222] = $10,523,333 4. Repay the peso loan. The repayment amount on the peso loan is: MXP70,000,000 ? [1 + (8. 7% ? 10/360)] = 70,000,000 ? [1. 002417] = MXP70,169,167 5. Based on the expected spot rate of $. 14, the amount of dollars needed to repay the peso loan is: MXP70,169,167 ? $. 14 = $9,823,683 6. After repaying the loan, Blue Demon Bank will have a speculative profit of: $10,523,333 – $9,823,683 = $699,650 Speculation †¢ Assume all the preceding information with this exception: Blue Demon Bank expects the peso to appreciate from its present spot rate of $. 15 to $. 17 in 30 days. How could it attempt to capitalize on its expectations without using deposited funds? Estimate the profits that could be generated from this strategy. Speculation 1. Borrow $10 million 2. Convert the $10 million to pesos (MXP): $10,000,000/$. 15 = MXP66,666,667 3. Lend the pesos through the interbank market at 8. % annualized over a 30-day period. The amount accumulated in 30 days is: MXP66,666,667 ? [1 + (8. 5% ? 30/360)] [ ] = 66,666,667 ? [1. 007083] = MXP67,138,889 4. Repay the dollar loan. The repayment amount on the dollar loan is: $10,000,000 ? [1 + (8. 3% ? 30/360)] = $10,000,000 ? [1. 006917] = $10,069,170 5. Convert the pesos to dollars to repay the loan. The amount of dollars t o be received in 30 days (based on the expected spot rate of $. 17) is: MXP67,138,889 ? $. 17 = $11,413,611 6. The profits are (could be): $11,413,611 – $10,069,170 = $1,344,441 5 How to cite International Finance, Essay examples International Finance Free Essays string(36) " rate in the 90-day forward market\." True/False ____T__ 1. Multinational financial management requires that financial analysts consider the effects of changing currency values. __F__ 2. We will write a custom essay sample on International Finance or any similar topic only for you Order Now Legal and economic differences among countries, although important, do NOT pose significant problems for most multinational corporations when they coordinate and control worldwide operations and subsidiaries. Comment: Legal and economic differences among countries do affect the worldwide operations and subsidiaries. ___T_ 3. When the value of the U. S. ollar appreciates against another country’s currency, we may purchase more of the foreign currency with a dollar. __T__ 4. The United States and most other major industrialized nations currently operate under a system of floating exchange rates. __F__ 5. Exchange rate quotations consist solely of direct quotations. Comment: Exchange rate quotations consist of direct and indirect quotations. __T__ 6. Calculating a currency cross rate involves determining the exchange rate for two currencies by using a third currency as a base. __T__ 7. A Eurodollar is a U. S. dollar deposited in a bank outside the United States. __F__ 8. LIBOR is an acronym for London Interbank Offer Rate, which is an average of interest rates offered by London banks to smaller U. S. corporations. Comment: LIBOR is the interest rate offered by the largest and strongest London-based banks on large deposits. __T__ 9. Exchange rate risk is the risk that the cash flows from a foreign project, when converted to the parent company’s currency, will be worth less than was originally projected because of exchange rate changes. ___F_ 10. Because political risk is seldom negotiable, it cannot be explicitly addressed in multinational corporate financial analysis. Comment: Political risk refers to potential actions by a host government that would reduce the value of a company’s investment. It includes at one extreme the expropriation without compensation of the subsidiary’s assets, but it also includes less drastic actions that reduce the value of the parent firm’s investment in the foreign subsidiary, including higher taxes, tighter repatriation or currency controls, and restrictions on prices charged. However, companies can take several steps to reduce the potential loss from expropriation: (1) finance the subsidiary with local capital, (2) structure operations so that the subsidiary has value only as a part of the integrated corporate system, and (3) obtain insurance against economic losses due to expropriation from a source such as the Overseas Private Investment Corporation (OPIC). ___T_ 11. Individuals and corporations can buy or sell forward currencies to hedge their exchange rate exposure. Essentially, the process involves simultaneously selling the currency expected to appreciate in value and buying the currency expected to depreciate. __T__ 12. If an investor can obtain more of a foreign currency for a dollar in the forward market than in the spot market, then the forward currency is said to be selling at a discount to the spot rate. ___T_ 13. If a dollar will buy fewer units of a foreign currency in the forward market than in the spot market, then the forward currency is said to be selling at a premium to the spot rate. ___T_ 14. A foreign currency will, on average, depreciate against the U. S. dollar at a percentage rate approximately equal to the amount by which its inflation rate exceeds that of the United States. __F__ 15. The cash flows relevant for a foreign investment should, from the parent company’s perspective, include the financial cash flows that the subsidiary can legally send back to the parent company plus the cash flows that must remain in the foreign country. Comment: From the perspective of the parent organization, the cash flows relevant for foreign investment analysis are the cash flows that the subsidiary is actually expected to send back to the parent. _T__ 16. The cost of capital may be different for a foreign project than for an equivalent domestic project because foreign projects may be more or less risky. __T__ 17. When considering the risk of a foreign investment, a higher risk might arise from exchange rate risk and political risk while lower risk might result from international diversification. Multiple Choice e 18 Which of the followi ng are reasons why companies move into international operations? |a. |To take advantage of lower production costs in regions where labor costs are relatively low. | |b. To develop new markets for the firm’s products. | |c. |To better serve their primary customers. | |d. |Because important raw materials are located abroad. | |e. |All of the above. | ___a_ 19. Multinational financial management requires that |a. |The effects of changing currency values be included in financial analyses. | |b. |Legal and economic differences need not be considered in financial decisions because these differences are | | |insignificant. | |c. |Political risk should be excluded from multinational corporate financial analyses. | |d. Traditional U. S. and European financial models incorporating the existence of a competitive marketplace not be recast | | |when analyzing projects in other parts of the world. | |e. |Cultural differences need not be accounted for when considering firm goals and employe e management. | __a__ 20. If the inflation rate in the United States is greater than the inflation rate in Britain, other things held constant, the British pound will |a. |Appreciate against the U. S. dollar. | |b. |Depreciate against the U. S. dollar. | |c. |Remain unchanged against the U. S. dollar. |d. |Appreciate against other major currencies. | |e. |Appreciate against the dollar and other major currencies. | ___a_ 21. In Japan, 90-day securities have a 4% annualized return and 180-day securities have a 5% annualized return. In the United States, 90-day securities have a 4% annualized return and 180-day securities have an annualized return of 4. 5%. All securities are of equal risk, and Japanese securities are denominated in terms of the Japanese yen. Assuming that interest rate parity holds in all markets, which of the following statements is most CORRECT? |a. The yen-dollar spot exchange rate equals the yen-dollar exchange rate in the 90-day forward market. You read "Internat ional Finance" in category "Essay examples" | |b. |The yen-dollar spot exchange rate equals the yen-dollar exchange rate in the 180-day forward market. | |c. |The yen-dollar exchange rate in the 90-day forward market equals the yen-dollar exchange rate in the 180-day forward | | |market. | |d. |The yen-dollar exchange rate in the 180-day forward market equals the yen-dollar exchange rate in the 90-day spot | | |market. | |e. |The relationship between spot and forward interest rates cannot be inferred. __b__ 22. Which of the following statements is NOT CORRECT? |a. |Any bond sold outside the country of the borrower is called an international bond. | |b. |Foreign bonds and Eurobonds are two important types of international bonds. | |c. |Foreign bonds are bonds sold by a foreign borrower but denominated in the currency of the country in which the issue is | | |sold. | |d. |The term Eurobond applies only to foreign bonds denominated in U. S. currency. | |e. |A Eurodollar is a U. S. doll ar deposited in a bank outside the U. S. | __c__ 23. Currently, a U. S. rader notes that in the 6-month forward market, the Japanese yen is selling at a premium (that is, you receive more dollars per yen in the forward market than you do in the spot market), while the British pound is selling at a discount. Which of the following statements is CORRECT? |a. |If interest rate parity holds, 6-month interest rates should be the same in the U. S. , Britain, and Japan. | |b. |If interest rate parity holds among the three countries, the United States should have the highest 6-month interest | | |rates and Japan should have the lowest rates. | |c. If interest rate parity holds among the three countries, Britain should have the highest 6-month interest rates and | | |Japan should have the lowest rates. | |d. |If interest rate parity holds among the three countries, Japan should have the highest 6-month interest rates and | | |Britain should have the lowest rates. | |e. |If interest rate pari ty holds among the three countries, the United States should have the highest 6-month interest | | |rates and Britain should have the lowest rates. | __a__ 24. Today in the spot market $1 = 1. 82 Swiss francs and $1 = 130 Japanese yen. In the 90-day forward market, $1 = 1. 84 Swiss francs and $1 = 127 Japanese yen. Assume that interest rate parity holds worldwide. Which of the following statements is most CORRECT? |a. |Interest rates on 90-day risk-free U. S. securities are higher than the interest rates on 90-day risk-free Swiss | | |securities. | |b. |Interest rates on 90-day risk-free U. S. securities are higher than the interest rates on 90-day risk-free Japanese | | |securities. | |c. |Interest rates on 90-day risk-free U. S. securities equal the interest rates on 90-day risk-free Japanese securities. |d. |Since interest rate parity holds interest rates should be the same in all three countries. | |e. |Interest rates on 90-day risk-free U. S. securities equal the interest rates on 90-day risk-free Swiss securities. | __b__ 25. If one Swiss franc can purchase $0. 85 U. S. dollars, how many Swiss francs can one U. S. dollar buy? |a. |1. 2588 | |b. |1. 1765 | |c. |1. 647 | |d. |1. 2471 | |e. |1. 0824 | __c__ 26. If one U. S. dollar buys 1. 46 Canadian dollars, how many U. S. dollars can you purchase for one Canadian dollar? |a. |0. 7123 | |b. |0. 5548 | |c. 0. 6849 | |d. |0. 5685 | |e. |0. 6781 | ___d_ 27. If one British pound can purchase $1. 90 U. S. dollars, how many British pounds can one U. S. dollar buy? |a. |0. 4947 | |b. |0. 6105 | |c. |0. 053 | |d. |0. 5263 | |e. |0. 4579 | __c__ 28. If one U. S. dollar buys 0. 72 euro, how many dollars can you purchase for one euro? |a. |1. 0417 | |b. |1. 5694 | |c. |1. 3889 | |d. 1. 2917 | |e. |1. 0556 | __e__ 29. If one U. S. dollar sells for 0. 51 British pound, how many dollars should one British pound sell for? |a. |1. 9020 | |b. |2. 2941 | |c. |1. 5294 | |d. |2. 0588 | |e. 1. 9608 | __b__ 30. Suppose 144 yen could be purchased in the foreign exchange market for one U. S. dollar today. If the yen depreciates by 23. 0% tomorrow, how many yen could one U. S. dollar buy tomorrow? |a. |136. 3824 | |b. |177. 1200 | |c. |132. 8400 | |d. |145. 384 | |e. |157. 6368 | ___e_ 31. Suppose a foreign investor who holds tax-exempt Eurobonds paying 9% is considering investing in an equivalent-risk domestic bond in a country with a 28% withholding tax on interest paid to foreigners. If 9% after-tax is the investor’s required return, what before-tax rate would the domestic bond need to pay to provide the required after-tax return? |a. |12. 88% | |b. |12. 5% | |c. |10. 63% | |d. |15. 38% | |e. |12. 50% | __a__ 32. Suppose DeGraw Corporation, a U. S. exporter, sold a solar heating station to a Japanese customer at a price of 139. 0 million yen, when the exchange rate was 140 yen per dollar. In order to close the sale, DeGraw agreed to make he bill payable in yen, thus agreeing to take some exchange rate risk for the transaction. The terms were net 6 months. If the yen fell against the dollar such that one dollar would buy 154. 4 yen when the invoice was paid, what dollar amount would DeGraw actually receive after it exchanged yen for U. S. dollars? |a. |$900,259. 07 | |b. |$711,204. 66 | |c. |$1,008,290. 6 | |d. |$954,274. 61 | |e. |$702,202. 07 | __c__ 33. Suppose the exchange rate between U. S. dollars and Swiss francs is SF 1. 41 = $1. 00, and the exchange rate between the U. S. dollar and the euro is $1. 00 = 0. 50 euros. What is the cross rate of Swiss francs to euros? |a. |2. 9046 | |b. |3. 738 | |c. |2. 8200 | |d. |2. 3970 | |e. |3. 1584 | __e__ 34. Suppose that currently, 1 British pound equals 1. 98 U. S. dollars and 1 U. S. dollar equals 1. 40 Swiss francs. How many Swiss francs are needed to purchase 1 pound? |a. |2. 3008 | |b. |3. 046 | |c. |2. 5225 | |d. |2. 8274 | |e. |2. 7720 | __c__ 35. A currency trader observes the following quotes in the spot market: |1 U. S. dollar = |1. 21 |Japanese yen | |1 British pound = |2. 25 |Swiss francs | |1 British pound = |1. 5 |U. S. dollars | Given this information, how many yen can be purchased for 1 Swiss franc? |a. |1. 0471 | |b. |1. 0382 | |c. |0. 8873 | |d. |0. 9494 | |e. |0. 6832 | __e_ 36. A currency trader observes the following quotes in the spot market: |1 U. S. dollar = |10. 875 |Mexican pesos | |1 British pound = |3. 955 |Danish krone | |1 British pound = |1. 65 |U. S. dollars | Given this information, how many Mexican pesos can be purchased for 1 Danish krone? |a. |5. 3083 | |b. |3. 6750 | |c. 5. 6259 | |d. |3. 4935 | |e. |4. 5370 | __d__ 37. If the spot rate of the Israeli shekel is 5. 51 shekels per dollar and the 180-day forward rate is 5. 97 shekels per dollar, then the forward rate for the Israeli shekel is selling at a ______________ to the spot rate. |a. |6. 09% premium | |b. 6. 76% premium | |c. |7. 51% discount | |d. |8. 35% discount | |e. |9. 18% discount | __d__ 38. Suppose one British pound can purchase 1. 82 U. S. dollars today in the foreign exchange market, and currency forecasters predict that the U. S. dollar will depreciate by 12. % against the pound over the next 30 days. How many dollars will a pound buy in 30 days? |a. |$1. 4860 | |b. |$1. 6511 | |c. |$1. 8346 | |d. |$2. 0384 | |e. |$2. 2422 | __a__ 39. Stover Corporation, a U. S. ased importer, makes a purchase of crystal glassware from a firm in Switzerland for 39,960 Swiss francs, or $24,000, at the spot rate of 1. 665 francs per dollar. The terms of the purchase are net 90 days, and the U. S. firm wants to cover this trade payable with a forward market hedge to eliminate its exchange rate risk. Suppose the firm completes a forward hedge at the 90-day forward rate of 1. 682 francs. If the spot rate in 90 days is actually 1. 665 francs, how much will the U. S. firm have saved or lost in U. S. dollars by hedging its exchange rate exposure? |a. |$242. 57 | |b. $259. 55 | |c. |$208. 61 | |d. |$213. 46 | |e. |$269. 25 | __c__ 40. Suppose a U. S. firm buys $200,000 worth of television tubes from a Mexican manufacturer for delivery in 60 days with payment to be made in 90 days (30 days after the goo ds are received). The rising U. S. deficit has caused the dollar to depreciate against the peso recently. The current exchange rate is 5. 75 pesos per U. S. dollar. The 90-day forward rate is 5. 45 pesos/dollar. The firm goes into the forward market today and buys enough Mexican pesos at the 90-day forward rate to completely cover its trade obligation. Assume the spot rate in 90 days is 5. 30 Mexican pesos per U. S. dollar. How much in U. S. dollars did the firm save by eliminating its foreign exchange currency risk with its forward market hedge? |a. |$5,088. 63 | |b. |$7,012. 38 | |c. $5,336. 85 | |d. |$6,205. 64 | |e. |$6,391. 81 | __a__ 41. Suppose 90-day investments in Britain have a 6% annualized return and a 1. 5% quarterly (90-day) return. In the U. S. , 90-day investments of similar risk have a 4% annualized return and a 1% quarterly (90-day) return. In the 90-day forward market, 1 British pound equals $1. 50. If interest rate parity holds, what is the spot exchange rate ( $/? ? |a. |$1. 5074 | |b. |$1. 4019 | |c. |$1. 4924 | |d. |$1. 5376 | |e. |$1. 7185 | ___e_ 42. Suppose hockey skates sell in Canada for 165 Canadian dollars, and 1 Canadian dollar equals 0. 71 U. S. dollars. If purchasing power parity (PPP) holds, what is the price of hockey skates in the United States? |a. |$94. 89 | |b. |$99. 58 | |c. |$113. 64 | |d. |$131. 21 | |e. |$117. 15 | __c__ 43. Suppose 6 months ago a Swiss investor bought a 6-month U. S. Treasury bill at a price of $9,708. 74, with a maturity value of $10,000. The exchange rate at that time was 1. 255 Swiss francs per dollar. Today, at maturity, the exchange rate is 1. 324 Swiss francs per dollar. What is the annualized rate of return to the Swiss investor? |a. |20. 96% | |b. |13. 17% | |c. |18. 89% | |d. |17. 33% | |e. |20. 27% | How to cite International Finance, Essay examples

Friday, December 6, 2019

Giving Elders the Respect They Deserve Through Humane and Dignifying Care Essay Sample free essay sample

Everyone has or knows of a household member who is acquiring older and necessitating a little more aid as they do so. These aging treasures are all about. They’re your female parent and male parent. grandmother and grandfather or possibly possibly a beloved friend. but unluckily these one time valued human existences are going the mute load on society. Caring for a friend or household member is a difficult occupation. inconvenient. and sometimes non practical. which is why 1000000s and 1000000s of Americans make the determination to engage outside aid. Sometimes an in place health professional or nurse. others place their aged loved 1s in nursing places where they assume they are acquiring good aid and being taken attention of. Surveies have shown that over 1. 8 million people are populating in nursing places ( Nasser. web ) . We will write a custom essay sample on Giving Elders the Respect They Deserve Through Humane and Dignifying Care Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page And 40 three million Americans rely on a health professional of some sort ( Alzheimer’s Association. web ) . Unfortunately. there is no existent accurate statistic to demo sing the aged people who are neglected. abused and are having unacceptable intervention of all sorts. because non all instances are reported. ? Senior citizens are being neglected. abused. over medicated and left in the custodies of inexperient health professionals on a day-to-day footing to me this intervention is unacceptable. Anderson 2 I have a batch of experience working with the aged. I have seen and experienced much beyond my old ages due to the priceless minutes I’ve spent working with these astonishing people. I know what it takes to do a good health professional. which includes but is non limited to religious. mental and physical qualities. I started caring for my great grandmother when I was 17. shortly after my other grandmother ( her girl ) got ill and I began caring for her every bit good. They both were diagnosed with Chronic Obstructive Pulmonary Disease ( COPD ) which for those of you who don’t know is a bottleneck of the air passages which causes trouble external respiration and is really progressive. acquiring worse over clip. Bing it such a serious occupation. I rapidly developed the accomplishments it took for their medical demands through their nurses weekly visits and realized the natural demand to take attention of them came natural. Most of all I discovered the common w agess and the bond it created between my grandmas and me. I continued with my passion as a health professional after they passed off the undermentioned twelvemonth. Ten old ages subsequently I am in the same calcium hydroxide of work. but with much more cognition. accomplishment. and understanding refering to the field as a whole. A few old ages ago I worked at a nursing place where my eyes were opened and I saw the unacceptable intervention towards elderly that 1000s are having to this twenty-four hours. I would see aged clients being excessively medicated so the staff did non hold to â€Å"deal† with them or hear them kick about wet nappies or â€Å"ramble on† with their narratives. The hapless patients sat lined down the hallway merely to catch a glimpse of amusement or human interaction as the nurses shuffled past them without a 2nd glimpse. It was during this clip that I realized I viewed these people much otherwise than most and that all of these people deserved intervention. When sing yearss came it was amusing how the nurse’s demeanour would alter towards the clients. Their hair was Anderson 3 brushed. they were chan ged out of their infirmary gowns and set in their personal vesture. and everyone was merely sweet as pie. It disgusted me so bad I quit on a yearss notice. and merely returned to see with my kids with some of the folks I had grown to love. I vowed to myself that I would neer put a loved one in a â€Å"home† nor would I of all time contribute or work at one of those topographic points. I so heard my naming ; I was to alter aged people’s lives one by one. I became a health professional purely for in-home attention and now adore taking attention of seniors who rely on honest difficult work from the bosom. Some of these people are bedfast and need assist with everything including bathing. dressing A ; aid walking. but I don’t mind. because I know what astonishing people they are and the self satisfaction is a great feeling. Some people fail to see past the demands old age requires and position theses seniors as loads. but they are non loads at all. more like subsisters. wise mans. and philosophers. who have made it through this journey we call life excluding an old psyc he and a narratives filled with wisdom. Care centres for aged are short-handed which puts tonss of force per unit area and emphasis on those who work at that place. every bit good as those who reside at that place. This job may go forth them tired and non every bit watchful as they should be. Besides when the health professionals or heath attention workers are sleep deprived they become impatient and cranky. go forthing the aged at higher hazard of being mistreated. Aside from being cranky. deficiency of sleep leads to carelessness and deficiency of safety safeguards on the occupation. A tired Caregiver may fall asleep on the occupation and non be at that place when the patient needs them the most. It’s merely as of import the health professional get plentifulness of slumber and take attention of themselves so that they are in the best form possible to care for the seniors who rely on them. Anderson 4 Another manner in which aged attention is unacceptable is dishonest Caregivers who take advantage of those who are vulnerable and may bury. Many senior citizens suffer from dementedness and Alzheimer’s disease which affects the memory country in the encephalon doing it harder and harder for them to retrieve day-to-day events. people. and objects or even who they are all together. These diseases progress rapidly and there is no remedy. Lack of memory leaves these people vulnerable and many health professionals take advantage of them if there is non a close web of people who work together to supervise things. Aged disregard. maltreatment. and stealing is much less likely to go on if friends and household pitch in and take rotary motion on sing on a regular basis to forestall this. You should besides be maintaining a stopping point oculus on personal belongings around the house and the fundss of your loved 1. The small things we can make for our senior friends won’t save the universe. but it will certainly do a difference. And if you can do a difference is someone’s life. so possibly person will take the clip for you when your clip is nigh. The seniors of today exist everyplace we see. these people are particular and merit to be treated better. Aged people are non merely the nexus to your yesteryear. but they are who you will be someday ; the nexus to your hereafter. They were one time were the future coevals and the hope of America like the immature people of today. Without these people we would non hold advanced so far in scientific discipline and won the wars that were fought in order for all of us to still be populating in a free state. We have to make something ; the manner things are. are unacceptable and need to alter.

Friday, November 29, 2019

Wild Beauty free essay sample

There’s something desperate about the way Wyler says it, as if she’s clinging to the wreckage of her identity. From my last session with Kate, a five minute introductory session in which to establish her problems, I only had time to discover the bare minimum about her and her issues. I’d dealt with numerous abuse cases-but this was something different. In all my years I had never had a case affect me such as this one. As soon as she started her story, she was in tears. My mother and father married when I was two years old and divorced when I was 4 because she started using again. My dad suspects that she was using while she was pregnant with me as well. I went with my mother. She was a meth addict and a prostitute. I’ve already come to terms with the fact that my mother sold her body to keep up her habit. We will write a custom essay sample on Wild Beauty or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page She said it was to keep food on the table but I stopped believing her when I was eight years old. She was a whore. A plain old whore. We stayed in a caravan on the edge of a filthy lake in an industrial area. Mother’s idea of hygiene was cheap perfume and keeping the counters clean. I generally survived on second hand smoke, toast and McDonalds. I was doing my own washing by the time I was five years old-I remember having to walk halfway across the lake so I could find a ledge in order to reach the water. Parties were a nightly occurrence and cops a weekly one. Ironically my mother told me the cops were the ‘badies’ and so everytime they came I hid in my room out of sheer terror. I was always afraid, on guard, ready to fight for my life. Often when my mother went to the room with a man, she would tell me too look through his jacket pockets if he left it in the lounge. So I did. I would steal the money he didn’t pay her and anything else that looked valuable. Soon I became sick of being stuck in the room while everyone else was having fun at parties, and so I began to venture out. That’s when people became aware that I was there. A vulnerable, young, innocent girl. I sat on people’s lap as they snorted a line of coke, watched as they heated their spoons for heroin and weed was a common smell. Sometimes men watched me. When I became bored I would go back to my room. Eventually people, including my mother, would start passing out and some man would come into my room. The music was still loud if there was anyone awake to hear me scream. Any man could have his way with me. At first I screamed bloody murder. I remember kicking and biting and pulling whatever greasy hair was left on his head but I quickly learned not to make a sound. If I so much as quietly gasped, I would get hit. I remember not being able to sit for a while. Up until I was 9 years old I thought that what was happening to me was normal. No one ever told me not to talk about it. My silence was voluntary. When I found out what was happening to me was wrong, I felt ashamed and scared; like a freak. So I began to drink myself into oblivion. I knew the power of alcohol-had seen its affects many times-and so began to embrace it. I smoked weed since grade 4 and I was in grade 7 the first time I tried cocaine. I still get extremely strong cravings for alcohol and an occasional craving for coke. In grade 8 I started to hurt myself in any way I could. I would cut, burn, scratch and sometimes bite myself. I still self-mutilate. Even though I know I did nothing wrong, all I see is an ugly, stupid slut who doesn’t deserve love from anyone. I have an alcoholic father and a step-mother from hell. I recently got into trouble for stealing, snorting and selling my step-mother’s morphine. I’m dating a guy who’s twenty-one, who I’m sure I’m in love with, and who recently got arrested for being a sex offender and for supplying minors with illegal substances. My life is presently hell. My mind is doing the play-stop-rewind thing about everything. It hurts. I can’t stand the fact that I’m only fourteen and yet I can tell you things about sex that’s insane, things about drugs that’s insane, trade secrets to selling drugs and the difference between hormones and the real thing. But I think it’s high time I make some changes in my life. I’ve been sober for a few weeks now. I’ve only had one cigarette this week; and I made an important decision today: I will not be a victim. I refuse to be a victim. I will find someone who loves and appreciates me and who won’t use me for my body. I am precious. I am beautiful. I am a wild beauty.

Monday, November 25, 2019

Assignment brief Essays

Assignment brief Essays Assignment brief Essay Assignment brief Essay Structure and Organization of the Retail Sector Betty wants you to produce a Powering presentation for the Magazine introducing different tillers together with the many ways and places in which retailing is conducted. Where possible note any changes that have taken place In any particular sector e. G. Closures and the reasons for this. 1. Definition of retailing. 2. Describe in your town centre the different sectors of the retail industry that exist and their specific role within the community. . Discuss the different types of retailer and location Include the following Independent Multiple chains Supermarkets Department Stores Public Place Not for pronto Discount stores Catalogue stores Tell shopping Internet retail parks shopping entrees Factory outlet centers social network shopping. Regional shopping centers retail parks and shopping centers. 4. Find data to show the size, trends, changes, developments and employment characteristics of the retail industry. 5. Explain how retailing has changed over the last 40 years TTL Task 1 Merit The Editor of Retail Today is delighted with your findings and presentation. She now wants you to extend the PPTP comparing the function of different retailers and the rationale for the choice of their location. You must feature two case studies: EGG Tests and Marks and Spencer . Describe with an example the location choices retailers have available for the placement of their premises. 2. State the rationale, function and retail benefits behind retailers choices of these locations? 3. Describe their activities, products and services and how they have changed examining at least four different formats and locations for their retail outlets, number of employees, sales area, number of enterprises, turnover Ana product strategies. 4. Identify why these retailers prefer different locations and explain the retail functions they perform ND if they have used new development or re-development sites. . What do you think will be the future formats and locations of these two businesses MI Assessment criteria: Pass 1 describe the structure and organization of the retail sector Merit 1 compare the function of formats and locations of retailing Featheriness High school AS 2014/2015 1/5 BITE National Diploma in Business Unit 29 Understanding Retailing Scenario The Editor wants to send you out on location to investigate the role of retailing in the distribution of goods and services . The Editor has promised a large financial bonus as a large national newspaper is interested in the latest trends and findings about distribution and logistics. The Editor has promised a large financial bonus as a large national newspaper is interested in the latest trends and findings about distribution and logistics. Task 2 With reference to different types of retailers from different sectors you can use (Amazon and Sad) describe their distribution channels and processes 1. Distribution Channels: Availability AT products (tale, place, quantity movement of goods from manufacturer to retailer to consumer Wholesalers as intermediaries Retail control of the supply chain (own brands, e-retailing) Provision of product enhancing functions e. G. Transport, storage, after-sales service 2.

Thursday, November 21, 2019

Using movement to teach academics Essay Example | Topics and Well Written Essays - 750 words

Using movement to teach academics - Essay Example Learning through movement is the preferred mode of learning for young children. This is because through active involvement, children are able to learn the best. For example in prepositions, should be made part of movement in class as they are critical in life; children need to understand them fully. As children move in every direction (under, slide, around, in tunnels, near and over objects) the words make more meaning to them. Such orientation in the space is important for children to identify letters and symbol orientation in a page. Sandra Minton says that the difference between a letter â€Å"b† and â€Å"d† is dependent upon orientation as both letters are comprised of a circle and a line (2003). Whenever children talk or listen to each other like on the playground as they make new inventions, they are practising and expanding vocabulary as well as learn how to communicate which is an important lesson. In Saudi Arabia where I come from, active learning was not part of the curricula as teachers saved on the academic time. What they did not understand is that young children can not concentrate in class like adults, listen to all the vocabularies and remember them next time in class. Practice through activities makes learning a quicker method in early childhood development. When children are made to keep quiet and listen in class, they do not learn how to communicate. But when they are encouraged to move and talk, have physical classes, they can invent games and reinvent the rules, which further enhance their communication skills (Block, 2001). Such children are able to express themselves even when they become adults. When they are made to skip lightly, this means that they are utilizing adjectives in the field, they are no longer abstract concepts in on the wall of the classroom. Physically demonstrating their actions with words makes the children comprehend their word easily and last longer. For example, words like stalk, or

Wednesday, November 20, 2019

Creative PR Essay Example | Topics and Well Written Essays - 2750 words

Creative PR - Essay Example Creative PR is a public relation company that was established by John Williams and Caroline Brown. Eventually, Margaret Sinclair and Fred Foster also joined them to establish the organization in the market during its developmental phase. According to the case scenario, the new employees were also motivated to become all-rounders pertaining to diversified work areas in Creative PR, which indicates to an informal culture in the organisation (Morgan, 1997). To be noted, such a structure is often argued as effective in the initial or foundation period of a business, as it helps in its proper functioning even with a limited number of human resources (Williams, 2008). Having knowledge about various specialized works enabled the employees to handle different situations efficiently. Such diversity in the workplace also enables the employees to manage their operations efficiently with minimum or no dependency on departmental structures making every individual efficient enough to take care of the given responsibilities (Lunenburg, 2012; Morgan, 1997). The organisational structure being followed was basically flattened and flexible in Creative PR. Each staff working within the organization developed reasonable competencies pertaining to all these key areas. In relation to the flexible organisational structure it represents the ability of an organisation to reactively embrace the change pertaining to its prevailing environment (Kirikova, n.d.). However, a theoretical perspective to the scenario revealed that due to the flattened work structure, employees used to be out of the work place for longer hours. This open structure and culture provided motivation to the employees in terms of diversified job responsibilities, but also added to perplexities within the organisational structure regarding the continuous interchange of job roles (Lunenburg, 2012; Morgan, 1997). Although the defined work culture proved beneficial in facilitating organisational development during the init ial performance, considering the later challenges and need for expansion, Williams and Brown were planning to change the prevailing organisational structure and culture in a more organised manner, applying a multi-layered matrix framework (Aguilar-Saven, 2004; Miles & et. al., 1978). Subsequently, Williams and Brown decided to follow the ‘Adhocracy’ organisational culture (Lunenburg, 2012; Morgan, 1997). 1.2 Implication of These Structures In relation to the open or flattened structure, as was applied and favoured by Sinclair and Foster, the case study reflects that socially there was a close relation between the management and the staff members that contributed to the mitigation of these limitations by developing a cohesive work culture within the organisation. As per the case scenario, major clients of the company were also involved in company celebrations, which contributed to a good reputation of the firm adding efficiency to its way of operations. Clients used to p articipate in the parties and get impressed by the interpersonal association existing between the management and staff members gaining confidence on the employees who had continuous interaction with them. As a result of this particular organisational culture the morale of the employees were also identified to be high that further augmented the efficiency of the organisation in

Monday, November 18, 2019

Homosexuality and LGBT rights in Vietnam Essay Example | Topics and Well Written Essays - 750 words

Homosexuality and LGBT rights in Vietnam - Essay Example The country hosts highly talented people belonging to a variety of professions including artists, scientists, lawyers, and economists. Still, the discrimination of the society toward the LGBT community in general is overt. Vietnam is just another country among a range of conservative countries in which homosexuality is perceived as a taboo. While people hold different views about it, the view against homosexuality is carried by a vast majority of people in the society. Although a Google search over the keywords â€Å"Dong tinh† leads an individual to more than 250 million links in a fraction of a second, yet most of the links reveal the negative stance of the society of Vietnam over the topic of homosexuality. Most people in Vietnam express curiosity and distress over the topic, and articles citing cases of discrimination against the homosexuals in different ways can be readily found. However, the situation has started to change recently in favor of the LGBT community in Vietn am, even though the country has to go a long way before equality of rights of the LGBT community can be established. A major hurdle in the way of social acceptance of the LGBT community in Vietnam is certain misunderstandings. At a conference organized for gay-rights, Le Quang Binh, the think-tank leader mentioned that while 57 per cent of the Vietnamese thought of homosexuality as a social fad, 48 per cent of them thought that it was a curable condition. Nguyen Thanh Tam, the Viet Pride founder recalled the curiosity shown by people to see the rainbow flags at the last year’s event in these words, â€Å"People were running up to us asking why we were carrying rainbow flags. They wanted to know what product we were marketing† (Tam cited in Phillips). According to the LGBT activist Tam, life for the lesbians is made particularly complicated by the police as the police hauls them in for questioning on charges that while their gender is mentioned as female on their identity cards, they look like boys to the cops. A major barrier in the way of the LGBT movement is social conformity. Peopl e belonging to the minority are understood by others with difficulty since people tend to follow the norm that being different is bad. Rights of the LGBT community in Vietnam is a pleasant outlier among the human-rights statistics’ bleak set. The police has arrested many dissident bloggers in 2013 whereas the total number of political prisoners in detention in Vietnam surpasses 150 (Phillips). The case of Dieu Cay, the campaigning journalist is one of the most high-profile cases in Vietnam. â€Å"Suffering a raft of serious health problems that require round-the-clock care, the activist is serving a 12-year sentence for â€Å"disseminating antistate information and materials,† and on June 22, embarked on an ongoing hunger strike to protest his treatment† (Phillips). Same-sex couples in Vietnam have been fined for many decades for holding the relationship ceremonies in the past. Contrary to the decades-long history of anti-gay sentiment in Vietnam, circumstances have started to change in favor of the LGBT community as a result of alteration in the laws. Gay and lesbian couples are likely to soon be allowed to conduct ceremonies of relationship in Vietnam. Lawmakers in Vietnam have started to conduct a debate regarding the hope of the advocates of gay rights and their allies that Vietnam might permit same-sex marriages in near future. Of late, the National Assembly of Vietnam has scheduled the commencement of a debate regarding amendment of the Law of Marriage and the Family which would, in effect, annul the ban placed over same-sex marriage, though the law would not allow

Saturday, November 16, 2019

Chocolate Milk As A Sports Recovery Drink Physical Education Essay

Chocolate Milk As A Sports Recovery Drink Physical Education Essay Sports drinks are a highly lucrative business with many athletes believing they significantly improve performance. However recent research analysing the potential of low-fat milk as a post-exercise recovery aid has shown that highly commercialised carbohydrate-based sports drinks may be less beneficial. I have witnessed the rebranding of drinks such as Mars Refuel being packaged in sports bottles and using athlete endorsement and am interested in its effectiveness in intermittent sports. As a badminton player, I am keen to see whether low-fat milk can be used to aid recovery in varying-intensity intermittent sports. Also, there is currently a new campaign, Milk it for all its Worth, run by the Dairy Council following funding by the EU aiming to promote the health benefits of milk in young people (Dairy Council, 2010). Therefore, it is a good time to be conducting research in this area. Title Is post-exercise consumption of chocolate milk a suitable recovery drink following glycogen-depleting exercise in male badminton players? Literature Review Roy (2008) reviewed the current research on milk and its potential as a sports drink. He recognised that the limited research in this field has been conducted into the recovery from resistance training and endurance sports. The available research suggests milk favourably alters protein metabolism and is more nutrient dense than commercial sports drinks. This review also recognises the need for further research into the possible applications and efficacy of milk as a recovery drink. Recent research has shown that milk consumption immediately and one hour after exercise, is effective for strength and resistance training athletes to increase muscle mass, encourage type II muscle fibre hypertrophy and promote loss of fat mass leading to leaner mass and favourable change in body composition, (Hartman et al. 2007 and Josse et al. 2010). This is topical as young women in particular avoid dairy products believing them to be fattening (Josse et al. 2010). Hartman et al. (2007) tested whether consuming fat-free milk post resistance exercise would promote greater lean mass accretion compared to consumption of soy or an isoenergetic carbohydrate drink in young novice weightlifters. They used a relatively large sample size, increasing reliability. Josse et al. (2010) conducted an equivalent experiment in female athletes producing similar results, verifying Hartman et al.s method. Josse et al. (2010) also theorised milk consumption may have led to increased bone health; howe ver more research is needed for verification. Cockburn et al. (2010) investigated the most effective timing for consumption of a milk recovery drink. They investigated consumption before muscle damaging exercise, immediately after and 24 hours later. The study produced the recommendation that athletes consume milk immediately post-exercise, which would allow the athlete to perform at closer to optimal levels 48 hours later. This corresponds with recommendations from Pritchett et al. (2009). Precise recommendations have been given as 50-75g of carbohydrate consumed 30-45 minutes post-exercise and 1.0-1.5g of carbohydrate.kg-1.h-1 for next few hours (Ivy et al. 2002). Research has also been conducted into the effectiveness of milk for rehydration. Shirreffs et al. (2007) found milk an effective recovery aid following mild exercise-induced dehydration. They compared low-fat milk, low-fat milk with added sodium chloride, a sports drink and water at restoring fluid balance post-exercise. A volume equal to 150% of the volume of body mass lost during exercise was consumed 20 minutes post-exercise to ensure sufficient rehydration. All four drinks initially hydrated participants. However, the gastric emptying rate of milk is much slower than for sports drinks and water. This gave a greater percentage of drink retention with the milk drinks and the subjects remained in a net positive fluid balance and euhydrated at the end of the recovery period (Shirreffs et al. 2007). Conversely, the sports drink and water increased urine output resulting in a net negative fluid balance. There was no difference between the two milk drinks possibly because low-fat milk a lready contains a moderate quantity of sodium, higher than most commercial sports drinks. Research is needed to compare milk and sports drinks containing the same electrolyte content to confirm whether it is the haemodilution effect of sports drinks that led to a negative fluid balance. Low-fat chocolate milk contains the same nutritional benefits as low-fat milk but has been found to be more palatable than popular carbohydrate replacement drinks (Pritchett et al. 2009). Karp et al. (2006) found chocolate milk an effective recovery aid between two exhausting exercise bouts. Their study on endurance-trained cyclists involved glycogen-depleting exercise, a recovery period in which test drinks were consumed and a test to exhaustion. The research showed that both the time to exhaustion and the total work performed was significantly greater following the consumption of chocolate milk compared to a carbohydrate replacement drink with subjects cycling for 49% longer (Karp et al. 2006). However the chocolate milk had no significant difference compared with the fluid replacement drink. The carbohydrate content of the three different drinks in this research were equal, which had not been addressed in previous studies and produced contrasting results showing no significant difference in performance between the different drinks. However the types of carbohydrates and calorie content of the drinks were unequal. Both the chocolate milk and fluid replacement drinks contained a mixture of monosaccharides and disaccharides compared to the complex carbohydrates present in the carbohydrate replacement drink. This may account for the results as the complex carbohydrates may not have completely digested in the 4 hour recovery period. Also the greater number of calories in the chocolate milk may have accounted for the improved performance. Thomas et al. (2009) addressed this problem with a study comparing isocaloric chocolate milk and carbohydrate replacement drinks with an isovolumetric fluid. The protocol was also a submaximal (70% VO2max) endurance exercise cycle in a glycogen-depleted state. Participants cycled for 51% longer and 43% longer with post-exercise chocolate milk consumption compared to consumption of carbohydrate replacement and fluid replacement drinks respectively (Thomas et al. 2009). This further supports the usage of chocolate milk as an effective post-exercise recovery drink, following prolonged endurance exercise. This research focuses on endurance athletes and the test to exhaustion is at a moderate intensity suggesting fat may be the predominant fuel source. The increased fat content of chocolate milk and subsequent increased concentrations in free fatty acids circulating in the plasma could account for the increased time to exhaustion, suggesting carbohydrate replacement drinks may be a more b eneficial recovery aid when working at higher intensities. Therefore, this research shows chocolate milk to only be a good recovery aid for moderate endurance exercise. Furthermore, this research was partially funded by Mars U.K. Ltd. which could be a potential source for bias. More recent research has studied this area, finding chocolate milk to be an effective recovery aid for cyclists after intense exercise. (Pritchett et al. 2009). The ratio of carbohydrate to protein in chocolate milk is similar to that in carbohydrate recovery drinks and therefore may help attenuate muscle damage post-exercise. Pritchett et al. (2009) compared chocolate milk and a carbohydrate replacement drink as recovery aids. They investigated the time to exhaustion working at 85% VO2max following intermittent high-intensity training and a 15-18 hour recovery period. Their study showed chocolate milk and carbohydrate replacement drinks are equally effective in attenuating muscle soreness. Time to exhaustion was not significantly different between the two drinks. The study by Pritchett et al. (2009) used drinks that were isocaloric and had equal carbohydrate content. The recovery period was 15-18 hours to allow complex carbohydrates to be broken down and participants worked at 85% VO2max during the test to exhaustion to ensure a greater reliance on carbohydrates as the main fuel source. Despite all this, the participants used to test milk as a recovery aid for high-intensity training were endurance trained cyclists. Therefore this is unrepresentative of athletes who participate in high-intensity intermittent sports. There has been only one recent study into the effects of milk consumption in team sports (Gilson et al. 2010). Training programmes for competitive sports containing varying-intensity intermittent exercise such as football have been shown to deplete muscle glycogen stores. Such programmes should produce similar results in badminton players. Gilson et al. (2010) found that post-exercise chocolate milk compared to carbohydrate consumption had no preferential effect on short-duration, high-intensity exercise. The exercise regime in this study may not have been of an adequate intensity to impair muscle recovery which could explain the results as increases in training volumes were relatively modest. The above evidence shows low-fat milk based drinks to be suitable for rehydration and recovery from endurance and strength training. However, it fails to reach a firm conclusion on whether they are more effective than carbohydrate drinks and lacks analysis on physiological reasons behind the findings. For example, none of these studies directly measures the efficacy of milk to promote muscle glycogen recovery following endurance exercise; only performance is analysed. Admittedly this is harder to achieve. The lack of research into the efficiency of milk as a post-exercise recovery drink to varying-intensity intermittent exercise sports, despite the large market for recovery drinks in this field of sport, has prompted my research. The aim is to find through similar testing as in the studies reviewed whether chocolate milk can be an effective aid for those who participate in varying-intensity intermittent sport, focusing on badminton players. Research problem There will be no significant difference in the time to exhaustion from high-intensity intermittent shuttle running following the consumption of chocolate milk and an isocaloric carbohydrate-based drink during a recovery period post glycogen-depleting exercise. Method Sampling County-level, healthy, male badminton players between the ages of 18-30 will be used (n=14). Other studies have used a sample size of 9 so whilst being realistic the increase should provide more reliable results. Well-trained athletes will be used to avoid mood or learning impacting performance. The standard will be defined as a minimum of 6 hours training per week, playing for their county and minimum of 3 years playing badminton. The Leicestershire Badminton Association (LBA) will be contacted to provide the participants needed. Snowball sampling may be used to gain participants or random sampling to reduce numbers if necessary. Lactose intolerance volunteers will be excluded. Procedure The procedure will be based on the Thomas et al. (2009) study, but will focus on intermittent exercise. This will be a crossover and fully counter-balanced study. Each participant will complete glycogen-depleting exercise to exhaustion, followed by a recovery period and an experimental trial on three occasions. Participants will be asked to arrive in a fully rested, hydrated state and to have refrained from strenuous exercise for 24 hours. They will be required to complete a 3 day food diary prior to each trial. They will be asked to arrive at the same time of day for each trial to minimise diurnal variation and this will be in the morning following an overnight fast. Participants will come for a familiarisation trial where they will be fully informed of all the risks and basic measurements such as height, mass, age and frequency of participation will be recorded. They will then be required to do a VO2max test, see Ramsbottom et al. (1988) for method, from which the running speeds for 55% and 95% will be calculated. They will also have a trial at the Loughborough Intermittent Shuttle Test (LIST) (see Nicholas et al. (2000) for method) to familiarise themselves. During this they will be able to consume water ad libitum. In the following experimental trials they will be encouraged to consume an equal amount. Experimental Sessions Following a warm-up, participants will complete the LIST (Nicholas et al. 2000). Heart rate monitors will be fitted and record heart rate every 15 seconds during exercise using short-range radio telemetry. Rate of perceived exertion using Borgs 6-20 scale will be recorded every 15 minutes. Sprint times in one direction over 15 metres using two infrared photo-electric cells and computer software will also be recorded throughout the test. Following completion of the LIST they will be given one of the two experimental drinks; Mars Refuel Chocolate Milk (CM) or carbohydrate replacement drink; Endurox R4 Chocolate (CR). The volume of CR will be calculated to provide 1 g carbohydrate.kg-1 body mass. The volume of CM will be calculated to give an isocaloric amount. The drinks will be placed into opaque bottles by a laboratory assistant not directly involved in the test. Recovery drinks will be assigned to the participants by a coin-toss. Once half the sample has been assigned to one drink t he remaining participants will be given the other for the first experimental trial. Participants will be given the alternative drink during the second trial. An equal total amount of carbohydrate will be given to the participants immediately post-exercise and 2 hours into the recovery period. Although the LIST does not replicate the situation of a badminton match, it does include the correct type of exercise used in training and often during tournaments players have long waiting periods. A total recovery time of 4 hours will be given representing this waiting period. During this time water may be consumed ad libitum in the first trial. This will be recorded and they will be encouraged to consume the same amount in trial 2. After the recovery period participants will be required to complete the LIST again. The time to exhaustion and variables previously measured will be recorded. Participants will then be asked to return one week later in the same state as previously described, replicating their diet 24 hours before the trial. The experimental procedure for trial 2 will be the same, however participants will be given the opposite recovery drink. A placebo is not being used as it has already been shown in many studies that post-exercise consumption of carbohydrate improves recovery. If at any point during the trials the participant wishes to stop or their health and safety becomes compromised the experiment will be stopped. Statistical Analysis Statistical analysis will be used on the collected data using SPSS (version 17). The time to exhaustion, sprint times and heart rates following consumption of the two drinks will be compared as will the results for the initial LIST and post-recovery LIST. The significance level for tests will be P