Saturday, August 31, 2019
In the case study of Scientific Glass case, the production, distribution and inventory management systems of the company Scientific Glass case have been discussed. Scientific Glass Inc, is a mid-sized company which was growing at a fast pace. The company is trying to resolve its inventory management issues as it is blocking a lot of working capital hindering the growth and expansion of the organization.This case study critically analysis the various alternatives for improving the inventory management system. The proposed alternatives have been evaluated and a final conclusion has been drawn. The case analysis has been divided into 3 sections. In the first section the issues that the company is facing have been highlighted. In the second section, the issues have been analysed and finally in the last section the various proposed alternatives have been discussed thus arriving at a conclusion.IssuesThe company was facing some serious inventory and financial issues which was hindering the growth and expansion of the company. 1) The executives had identified a disturbing trend. The inventory balances were increasing substantially, which was blocking the capital required for the growth of the company. 2) The company has exceeded its target debt to capital ratio of 40%. 3) The company was focussing on increasing the customer fill rate to 99% and maintain it at the expense of high inventory levels and thus exhausting the financial resources. 4) The rules with respect to maximum inventory levels were violated by the warehouse managers and sales executives, but no strict action was taken in order to prevent it.Analysis of the issuesIn the year 2008, the company initiated an effort to improve the customer fill rates by placing more products closer to large customer concentrations by increasing the number of warehouses operated by the company. The fill rate of the company at the time was 93% and the company aimed to increase it to 99%. However, as a result, the warehouse ma nagers began ordering more than the requirement in order to ensure fulfilment of the target for their region. This action increased the inventory levels to a large extent thus blocking the capital and increasing the overage costs. The companyÃ¢â¬â¢s warehouse network had been expanded in order to expedite the delivery time.Hence, inventory levels had to be maintained in each of these warehouses to meet the companyÃ¢â¬â¢s fill rate expectation. Although the companyÃ¢â¬â¢s policy mandated that no warehouse could maintain more than a 60 day supply, the policy was often violated. Moreover, the trunk stock allocated to individual sales representatives counted against this total. In effect, the employees were not working purely in the interest of the organization. Rather the warehouse managers were more concerned how to maintain the high delivery levels of their own warehouse. And the sales executives did not want to bring down their trunk stock levels.Hence, the bigger picture of e fficient inventory management and effective funds utilization while maintaining a high fill rate was being lost. Hence, it was imperative for the company to modify its policies of inventory management and be stricter in order to ensure that they are being adhered to. The company also needs to work upon strategies to reduce the shipment and delivery costs without bringing down its fill rate.Alternative OptionsAs can be observed, the company never emphasized too much on reducing the inventory costs until it started facing financial crunch inhibiting its expansion plans. Prior to that, it was more concerned with increased sales and customer satisfaction. However, the executives realized they will neither be able to increase sales nor maintain customer fill rate without addressing the inventory issues. Hence, they came up with some new ideas after a lot of brainstorming. The distribution network had to be modified to make the inventory management system more effective. This could be ach ieved in primarily two ways. Change in the warehouse structureChange in the existing policies or implementation of new ones Warehouse StructureIn order to change the warehouse structure the options of centralization, outsourcing were considered as opposed to the existing structure of decentralization. Decentralized Structure with 8 warehouses: No changes would be required and the regional warehouses would supply their respective territories except in case of stock outs. Centralization with one warehouse: Centralize the North American warehousing with one warehouse in Waltham by closing down the regional warehouses.In this way, the inventory requirements could be pooled to meet the demand. Centralization with two warehouses: The demands of the West and the East could be pooled respectively and supplied from warehouses in each of these regions. Outsourcing: Outsourcing the inventory function to Global Logistics who would be responsible for warehousing, inventory management, and order fulfilment (including picking, packing and shipping). This would enable the company employees to focus more on sales and expansion of the company while ensuring that the inventory management is in able hands.Policy ChangesSome policy changes were proposed as an outcome of the brainstorming session: Sufficient inventories only to meet customer fill rate of 99% and avoid surplus inventory Discontinuation of trunk stock maintenance by sales executives Daily reports and weekly summaries of inventory movement for every warehouse Periodic physical audits and control procedures for all warehouse stocksEvaluation of the Alternative OptionsThe alternative options proposed can be evaluated on the following grounds: Inventory Levels: The inventory levels to be maintained should be sufficient to abide by the policy of 99% customer fill rate. There is no mention of ordering cost, hence that need not be taken into account while determining the inventory level. Since each of the warehouse managers would prefer to keep an extra buffer, the inventory level increases with the increase in the number of warehouses. Hence, with respect to this parameter, the lesser the number of warehouses, the lower is the cost. Hence, Centralization and Outsourcing can be considered as good options.Delivery Time: The Company had an efficient delivery system where the products were ready for shipment within 3 days except in the case of stock outs. This was applicable for 1 warehouse, 2 warehouses or 8 warehouses. After that, the Winged Fleet ensured shipment to the client within 3 days at most. However, the new shipment company being considered Global Logistics offered an additional facility of 1 day premium delivery apart from the 3 day regular shipment. This facility could be considered as a differentiating factor and provide and added advantage to the company. This option would also include 2 warehouses one in Waltham and the other in Atlanta, thus ensuring minimum stock outs.Operating Costs: The operations manager suggested that the company would need to spend around $10M to replace the worn out equipment and produce stock sufficient enough to satisfy the future sales growth. This $10M can be assumed to be distributed across the 8 warehouses. Hence, with the decrease in the number of warehouses, the expected cost would come down. Hence, centralization or outsourcing would be a better option in this respect. Moreover, with outsourcing the sales force also need not be maintained by the company and hence the cost of sales force will be nil. FillRate: The Company has a policy to maintain 99% customer fill rate which is much higher than the industry average of 92%.SG is trying to achieve this at the cost of blocked working capital, thus inhibiting the growth and expansion. However, SG can work towards bringing down the FillRate without compromising on the customer satisfaction levels. Given the underage and overage cost as 10% of gross margin and .6 % of unit cost respective ly he FillRate for the two typical products has been calculated for in house warehousing and outsourcing. From the result it can be concluded that the FillRate on outsourcing inventory management to Global Logistics is higher than in-house inventory management.These figures indicate two things. Firstly, if the company is ready to lower the fill rate of 99%, the outsourcing fill rate of 96% is higher than the current structure. This would lead to higher inventory levels and thus higher costs. On the other hand, if the company sticks to its 99%, the inventory cost on outsourcing would be lower. Additionally the company can opt for different fill rates for different products and thereby reduce the inventory cost for some of its products.Shipment cost: The total shipping cost on outsourcing inventory management to Global Logistics turns out to be $26.25. If the company went with the current system of decentralization with 8 warehouses, the cost turns out to be $20.60. If SG centralizes warehousing with one warehouse in Waltham and uses Winged Fleet as its shipment company, the cost turns out to be $23.60. From this perspective, GL seems to be a more expensive option and decentralization seems to be the best option.Miscellaneous: If the company outsourced its inventory management to Global Logistics, the companyÃ¢â¬â¢s senior managers would be able to focus more on increasing sales, understanding emerging customer needs, and developing the next generation of the firmÃ¢â¬â¢s products. Additionally the company need not be concerned about the warehouse managersÃ¢â¬â¢ tendency of maintaining more than 60 day supply, as the warehouse management would be under GL. However, the negative side of outsourcing is that the goods have to be shipped from Waltham to Atlanta before delivery. As far as the policy changes are concerned, the sales executives should be allowed to maintain trunk stock as it might decrease the time responsiveness.ConclusionFrom the above parameter s, outsourcing and central warehousing are favourable options in some cases, where as decentralizing is favourable in others. With respect to the inventory levels and operating costs, centralization is a very good alternative. This includes both internal warehousing and outsourcing. However, if we look at the delivery time, outsourcing gives an added advantage with the 1 day premium shipment facility provided by the Global Logistics. The Fill Rate factor favours outsourcing only in case the company sticks to the policy of 99%.The outsourcing to GL, also provides the advantage in quantitative terms such as additional time for the senior executives to concentrate on growth and expansion rather than be involved in the nitty gritties of inventory management. The shipment cost decreases with the increase in the number of warehouses, i.e. with decentralization compared to outsourcing or centralization. From the above points, it can be observed that most of the parameters are in favour of outsourcing the inventory management to Global Logistics.In addition to the above discussed alternative of centralization, decentralization and outsourcing, SG can also consider the option of appointing established distributors withÃ good infrastructure at a zonal level. This would relieve the company of managing regional level wareshouses, at the same time reducing the operating costs of warehouse management. The company would be able to dedicate additional funds for expansion. The distributors would not stock additional inventory than required to meet the 99% customer fill rate, as it would block its own capital. Being a regional player, the distributors would have better control and knowledge of the market.
Friday, August 30, 2019
There are a lot of companies worth investing in around the country and the world. An investor cannot simply put his money into a company without doing some research beforehand. Using ratios, balance sheets, income sheets, and other financial information, a potential investor has a lot of resources to use to ensure a good investment is made. Considering the financials of each company can be reviewed from year to year, a potential investor is able to research trends from year to year of whatever company they might want to invest in.Based on my general knowledge of the gaming industry, I would consider investing in GameStop because gaming seems to be a booming industry. With all of the commercials on television for new releases, new consoles being developed every couple of years, and even competition gaming it seems that this industry is going to continue to climb. Since GameStop specializes in this industry and no other, I would consider it a safe investment even without doing any rese arch on the company. GameStop is a small retailer that specializes in video game hardware and software.The company also runs Kongregate, which is an online browser based game website allowing players to play smaller games. Kongregate makes its money using micro transactions, which are smaller transactions within the games. GameStop sells new and used hardware and software games on console, and also sells new computer based games as well. GameStop has over 6,500 actual locations spread throughout multiple countries along with a website through which more business is conducted. It is a leader in the gaming industry and is ranked 262 on the Fortune 500 list.Its main competitors are retail giants such as Wal-Mart and Best Buy who sell the same blockbuster titles as well. A horizontal analysis of the company shows the following for three years ending January 2011. GameStop Income Statement Year Ending200920102011 Sales100%100%100% Cost of Sales74. 2%73. 2%73. 2% Gross Profit25. 8%26. 8%2 6. 8% Operating Expenses7. 7%7. 4%7. 4% Income before tax7. 2%6. 5%6. 6% Income taxes2. 7%2. 4%2. 3% Net income4. 5%4. 1%4. 3% The horizontal analysis is important when researching any company because it compares the companyÃ¢â¬â¢s numbers side by side for two or more financial periods.Basically, you can look over multiple years once the analysis is put together and see where the company has improved and declined, and whether or not the profits have gone up or down from year to year. In the example of GameStop, we can see that gross profit increased slightly from 2009 into 2010 and stayed at the same number going into 2011. The horizontal analysis is the quickest way to look at the trends from year to year when you want to see a high level overview of a company, and deciding whether it warrants more research or not.Over the past few years GameStop has shown a small drop in their net income, which would indicate the trouble the economy has been having over those years. The cost of goods did decrease while gross profits increased each year, which means they were able to acquire goods for less and sell for more. This shows that their pre-owned game sales likely increased due to the economy. Operating costs did drop slightly going into 2010 and maintained the same cost going into 2011, which means they did not put much more into their operations, but it also means they were probably unable to find a way to cut costs.This can be difficult if they rent because some places have a fixed amount of rent while others may rise and lower depending on realty in the various areas. The current ratio for GameStop year ending 2010 was 1. 28 whereas the year ending 2011 dropped to 1. 23. This seems to indicate that that the companyÃ¢â¬â¢s ability to pay all of its short term liabilities fell slightly. This could indicate a drop in assets or even that the company reinvested in expanding its operations.Because the ratio dropped over the course of the two years does not necessa rily mean that the company is not still in good standing, there are many things that could affect the ratio. From the balance sheets, it looks like the assets did not increase as much as the current liabilities, meaning operations could have been expanded while sales fell, or even that business slowed down and operational expenses could have increased. Overall, GameStopÃ¢â¬â¢s assets did increase from 2010 into 2011 while the liabilities decreased slightly. The quick ratio showed a slight decrease from 0. 5 in 2010 to 0. 51 in 2011. This appears to be mainly caused by a rise in inventory that was not able to be sold by the end of the year. At the year end of 2010 the companyÃ¢â¬â¢s inventory was marked at 1,052. 6 million dollars, and at year end in 2011 it was marked at 1,257. 5 million dollars. Sales of new hardware fell from 2010 into 2011 because no new systems were released. The sales declined from 2009 into 2011 by 140. 2 million dollars, which would account for the compan yÃ¢â¬â¢s quick ratio declining between the two years. GameStopÃ¢â¬â¢s gross profit for new hardware actually increased by 7. % going into 2011 which would indicate that there were drops in the cost of the new hardware. There was actually an increase in the fiscal year of 2011 of 4. 4%, which would indicate that even with the lower numbers the company actually did better for the previous year. The cash to current liabilities ratio also dropped slightly from 0. 55 in 2010 to 0. 41 in 2011, which simply indicates a small drop in liquid assets that GameStop has available. After looking at the balance sheet between 2010 and 2011, the company had a significantly smaller amount of cash on hand which can explain the drop.This does not mean that GameStop is doing any worse as there are several explanations for this. If a company has too much cash on hand, it can mean that they are not expanding their business or trying to reinvest in the company to try to earn more revenue. Most companie s will not keep a lot of cash on hand, so the cash to current liabilities ratio should not be given too much weight when considering an investment. After looking through the companyÃ¢â¬â¢s financials, it seems that all of the numbers here are essentially straight forward. I do not see anything outside of normal reporting and a typical year that would cause the numbers o be either inflated or deflated within the year end reports. The companyÃ¢â¬â¢s assets barely rose between 2010 and 2011 and there was almost an equal fall on the liabilities which helped keep the company somewhat balanced. Based on the most recent numbers, it seems that GameStop had less assets on hand that could be considered liquid. This is likely due to the increased inventory on hand that was not sold during the fiscal year. Even though the company technically had more assets, less of it was considered liquid because it was in inventory, less current assets, a drop in intangible assets, and a rise in current liabilities.GameStop went from 1,655. 7 million in 2010 up to 1,747. 8 million in 2011. The factor that made up the bulk of this difference was accounts payable, which indicates that there were probably loans taken out to cover the expansion of the company. Since the only real direct competitors of GameStop are giant retailers like Best Buy and Wal-Mart, they probably have more liquid assets available. GameStop does not have much in the way of liquid assets because they are still working on expanding even more. Between 2010 and 2011, total store numbers increased from 6,450 to 6,670.This is why cash and liquid assets are lower in 2011, because the company has been expanding and working on building more revenue up. It seems that GameStop is continuing to reinvest in itself by expanding and making the company available to more consumers. I think that GameStop would be a good company to invest in, and I would personally make some sort of investment if I had the resources to do so. From what I can gather by looking at the balance sheet, sales have steadily increased over the past few years and the company has been expanding.Since GameStop is working toward expanding and improving its business, it is a safe assumption that revenue should increase in the future, especially when new consoles are eventually introduced into the market from Microsoft and Sony. The only risk that I see with GameStop is that their liquid assets seem to be decreasing from year to year, at least in the past few years. This is probably mostly due to an increase in buildings, property, fixtures, and the hiring of new employees to work in the new locations.If they keep expanding and the profit margin keeps shrinking it will come to the point where the company starts losing money. I would really suggest waiting at least a quarter to see if trends improve and advising to invest if the profit did increase over that quarter. Doing the research on a company you are considering investing in is compl etely worth the time required to do a thorough analysis of the company. Once the research has been completed, you will be able to make a fair analysis of the company simply utilizing information available provided by whatever company you are investigating.By running a horizontal and ratio comparison, a companyÃ¢â¬â¢s financial portfolio becomes almost transparent and trends, profits, losses, and expansion can all be seen at the top level view. References: GameStop. (2011) About GameStop. In News from GameStop. Retrieved November 1, 2012, from http://news. gamestop. com/about_us Gamestop. (2011) Annual Reports. In GameStop Corporate Information. Retrieved November 1, 2012, from http://phx. corporate-ir. net/phoenix. zhtml? c=130125&p=irol-reportsannual Walther. (2012). Principles of Accounting: Volume IÃ (1st ed. ). San Diego, CA: Bridgepoint Education, Inc
Thursday, August 29, 2019
This particular essay attempts to heighten a brief summary of the ownership history of Dick Smith Holdings Limited. It also incorporates the critical evaluation of the valuation of the pany when it was acquired by Anchorage Capital Partners and its Initial Public Offer (IPO) amount. The essay also attempts to assess the ethical dilemmas that face Anchorage Capital Partners regarding the floating of the pany and the senior executives and directors of Dick Smith Holdings Limited in respect to its financial reports made in the 2014/2015 accounts and reports. Dick Smith Holdings Limited was an Australian wide-chain of retail stores domiciled in Sydney, Australia and was founded by Dick Smith in 1968 (Dick Smith Holdings Limited annual reports, 2015). The pany basically sold consumer electronics goods, electronic project kits and hobbyist electronic ponents for its customers in Australia, New Zealand and other parts of the world. The pany expanded effectively into New Zealand and unsucces sful in some other nations globally (Anderson, Sweeney, Williams, Camm, and Cochran, 2012). Dick Smith Holdings Limited expanded to be a leading business in Australia that ensured that almost every electronic enthusiastic in the country has one of its catalogs and thus enhanced profits. In the FY2012, Dick Smith Holdings Limited was formerly acquired by Anchorage Capital Partners at an opening cash payment of AU$20 Million and the total ultimate cost of some AU$115 Million. Dick Smith Holdings Limited was initiated in 1968 by Dick Smith. The pany started as small rented buildings in a car park in the Sydney area of Neutral Bay with the total capital of just AU$610 and focused mostly on servicing and installing car radios (Puncheva, and Michelotti, 2014). Due to the pany rapid increase and success in the business sector, the pany moved to a bigger premises so as to enhance its business operations in the country. The pany profited mostly from CB Radio business, and by the end of ten years, it had branches in all the mainland regions in the country. Dick Smith Holdings Limited was owned by Dick Smith and his wife until they basically sold the majority of shares to Woolworth Limited in 1982 (Clements, 2015). The pany expanded its diverse range of products especially in between 1970 and 1980 and basically stocked products such as TV receiving stations and Heathkit electronic kits because of the waning interest rates. The business had expanded to about 20 sto res and the initiator together with his wife sold 60% of the business shares to Woolworth Limited and the remaining 40% ownership was pleted in 1982. Dick Smith Holdings Limited continued to increase to its setup of small main street stores in the regional and suburbs towns across Australia. The pany later established Dick Smith Electronic Powerhouse which was a superstore across the east coast of Australia that carried an extensive range of products in the audiovisual, puting and armature radio areas to enhance its productions. In the FY2008, following Woolworth Limited review of its consumer electronics division, Dick Smith Electronic Powerhouse revamped its flagship store as a notion to Dick Smith Technology branding (Lau, 2016). In 2009, Woolworth pany Limited confirmed the end of the Dick Smith Electronic Powerhouse as progressively phased out over the subsequent three years as part of its division. Dick Smith Electronic Powerhouse ended its operations in 2016 with several year s of Anchorage Capital Partners acquisition. Dick Smith Holdings Limited had been owned by Woolworth Limited since the early 1980Ã¢â¬â¢s, until early in 2012 when Woolworth Limited announced that the business was underperforming and non-core and instigated a sale process (Schauten, Dijk, and Waal, 2016).Ã After a period of distinctiveness, in November 2012 Anchorage Capital Partner acquired the pany for AU$20 Million. Anchorage Capital Partners announced in FY2012 that it had entered into an agreement with Woolworth pany Limited to acquire 100% of Dick Smith Electronics with the entire transaction anticipated to be pleted in November 2012. Dick Smith Electronics was an iconic Australian consumer electronics pany that became part of Woolworth pany Limited in 1980 (Essayyad, 2012). The deal had been conventionally structured so that Dick Smith Holdings Limited will emerge from the sale supported by a strong statement of financial position with considerable asset backing and no core liabilities. As part of the acquisition, An chorage Capital Partners would also support the operations by offering additional guarantees and cash investment. As at FY2012, Dick Smith Holdings Limited reported sales worth AU$1.6 Billion. Anchorage Capital Partners paid as much as AU$115 Million for Dick Smith Holdings Limited because it was agreed that an approximately AU$20 Million would be paid up front. As at FY2012, Dick Smith Holdings Limited was basically valued at AU$420 Million (Dias, and Saizarbitoria, 2016). The pany was heavily criticized because it was cheaply sold because the pany could not make sufficient profits needed by the pany. Woolworth pany Limited having struggled to find a fit for the electronics retailer from its acquisition in 1980, the pany was keen to offloading the non-core business division for approximately AU$115 Million. Since Anchorage Capital Partners is a privately owned institution, the price details of the newly acquired asset, the pany shares are not routinely made public. When Dick Smith Holdings Limited was basically acquired by Anchorage Capital Partners, the pany had less value and was basically valued at AU$20, and its Initial Public Offer (IPO) was at AU$2.20 per share. Following the pany acquisition, Anchorage Capital Partners restructured its business, and the retailer was mainly listed on the shares market for AU$2.20 for each share raising about AU$345 Million which was more than five times its initial purchase price (Brigham, and Houston, 2012). Anchorage Capital Partners is alleged to have marked down a substantial value of Dick Smith inventories to sell it at a discount so as to report an attractive i es data. These particular adjustments did not touch the new Dick Smith pany loss and profit reports, and at the lash of the pen, the pany had made or avoided about AU$120 Million in future pre-tax profit. The pany financial statements as at 2012 indicated that Dick Smith Holdings Limited had stock that cost AU$371 Million but had been written-down to AU$312 Million (Essayyad, 2014). Consecutively, as at June 2013, the pany inventory had decreased to AU$171 Million which basically pointed out an apparent sale of the enterprise. In this case, the reduction in the pany inventory produced a massive AU$140 Million profits to the pany operating cash flows as a result of selling most of the inventory, but there was no restocking. Due to this particular markdown of most of Dick Smith Holdings Limited inventory and other non-current assets, the pany valuation had been decreased tremendously that enabled Anchorage Capital Partners to acquire the new corporation quickly (Oakshott, 2012). Floating of the business shares in the market is usually the duty of management. Floating of shares often enables the pany to raise more capital to fund its diverse activities such as expansion. The management of Anchorage Capital Partners basically faces diverse ethical dilemmas when floating of shares because of the negative critics that they face as a result of Dick Smith Holdings Limited acquisition in 2012. The pany management is criticized of decreasing the pany value so as to enrich themselves which is considered to be unethical among the pany operations (Iyakaremye, 2015). Anchorage Capital Partners are faced with the aspect of trust and confidence from shareholders in respect to floating of its shares because they feel less secured from diverse operations of the pany. The pany management floated the electronics chains that bear the name of Dick Smith which was considered to lack decency and morality and that the managers were faced with a lawsuit with the aim to refund for t he clients that were left holding worthless gift cards. Dick Smith Holdings Limited was initially sold off to Anchorage Capital Partners for about AU$115 Million, and the privately owned firm basically floated the business just after fifteen months later for more than five times its initial costs. This aspect was considered to be unethical because the amount paid for the pany was too low. There can be absolutely no doubt that the Anchorage Capital Partners Limited managers knew that the things were not doing the right thing to its customers. Investors lost their life savings invested in the pany while the pany directors walked away with several million (Gendron, and Smith, 2015). The Anchorage Capital Partners misled the directors of Dick Smith Holdings Limited that led to their acquisition at a little value whereas the pany management made diverse profits that floated an enormous amount of shares that was considered to be five times the initial value of Dick Smith Holdings Limited. An assessment of the ethical dilemmas that faces the senior executives and directors of Dick Smith Holdings Limited with respect to its financial reports made in the 2014/2015 accounts and reports According to the financial reports and accounts for FY2014/15, the management board of Dick Smith Holdings Limited duped the firm shareholder and investors using the name of Dick Smith to hide their dishonesty (Wood, 2011). They fooled the pany investors and shareholders that the pany was making profits and that the pany financial students and reports demonstrated a clear picture of the pany financial position and in actual aspects, the pany financial statements were deceiving. This action was basically unethical and unprofessional because they also fooled financial professionals and banks to push for the pany sale (Essayyad, 2012). Another ethical problem that faces the directors and executive management is that according to the FY2014/15 accounts and reports, there was no indication that Dick Smith Holdings Limited will exit the business. According to the reports, the managers rewarded themselves with huge bonuses and salaries that resulted to the pany liquation. The pany went into receivership five months after the release of the financial statements of 2014/2015 which indicated that the pany would continue its operations for a foreseeable future but in real aspect, the pany had diverse problems. Due to huge salaries by the directors that resulted in little profits, the pany shares were suspended from trading via the ASX. Senior executives and directors of Dick Smith Holdings Limited were blamed for low sales that led to low profits and hence the closure of the business. Anchorage Capital Partners had altered the true and fair value and projections of the pany when it registered the pany of the Australia Stock Exchange in the FY2013 (Kenney, Cava, and Rodgers, 2016). Basically, it a pany cannot be valued at AU$90 Million in FY2012 by Woolworth Limited, AU$500 Million in 2013 and then the pany goes into receivership two years later. In this case, the pany management deceived the pany shareholders and investors. The senior executives and directors of Dick Smit h Holdings Limited knew of inventory problems that led to most of the pany stocks written off. The management team basically deceived the shareholders, and they were treated poorly, and they had a right to correct information to make informed decisions on the Australian share market. The senior executives and directors of Dick Smith Holdings Limited did not offer viable information to its investors and shareholders that led to the pany closure (Essayyad, 2008). This is because it is believed that the managers had concrete knowledge of what was happening with the pany and failed to advise on the shareholders on the possible approaches to save the pany from downfall. Proper and ethical management of diverse panies globally is usually the core aspect that enhances the pany operations. A pany that has better management team usually generate sufficient profits for its investors and shareholders because they ensure that there is continuous production. Dick Smith Holdings Limited sold consumer electronics goods, electronic project kits and hobbyist electronic ponents for its customers in Australia, New Zealand and other parts of the world. The pany was officially closed in 2016 because the pany management did not disclose all the problems that hindered the operations of the enterprise. The pany management fooled the pany investors and shareholders that the pany was making profits and that the corporation financial students and reports demonstrated a clear picture of the pany financial position and in real aspects, the pany financial statements were deceiving. Anderson, D.R., Sweeney, D.J., Williams, T.A., Camm, J.D. and Cochran, J.J., 2012.Ã Quantitative methods for business. Cengage Learning. Brigham, E.F. and Houston, J.F., 2012.Ã Fundamentals of financial management. Cengage Learning. Clements, J., 2015. Stamp duty consequences of infrastructure and development agreements.Ã Taxation in Australia,Ã 49(11), p.688. Dias, A.A.D.S.P. and Saizarbitoria, I.H., 2016. ISO 9001 Performance: A Holistic and Mixed-Method Analysis.Ã Revista de Management parat International,Ã 17(2), p.136. Dick Smith Holdings Limited annual reports, 2015. Retrieved from https://www.asx .au/asxpdf/20150818/pdf/430kvhrl8cpg0l.pdf Essayyad, M., 2012. The Case of Anchorage.Ã International Banking and Financial Centers, p.11. Ezidinma, V., 2014.Ã Why corporations fail: An exploration & theory on the recurring themes in corporate failureÃ (Doctoral dissertation, Dublin Business School). Essayyad, M., 2012. 2. The Feasibility of Establishing.Ã International Banking and Financial Centers, p.11. Essayyad, M., 2008. Ã¢â¬ËThe Feasibility of Establishing an International Financial Centre: The Case of Anchorage.Ã International Banking and Financial Centers, p.11. Iyakaremye, A., 2015. Analysis Of Financial Performance And Financial Risk In Agricultural panies Listed On The Nairobi Security Exchange. Gendron, Y. and Smith-Lacroix, J.H., 2015. The global financial crisis: Essay on the possibility of substantive change in the discipline of finance .Ã Critical Perspectives on Accounting,Ã 30, pp.83-101. Kenney, R., La Cava, G. and Rodgers, D., 2016.Ã Why Do panies Fail?(No. rdp2016-09). Reserve Bank of Australia. Lau, A., 2016. ASA stands up for shareholders.Ã Equity,Ã 30(4), p.10. Oakshott, L., 2012.Ã Essential quantitative methods: For business, management and finance . Palgrave Macmillan. Puncheva-Michelotti, P. and Michelotti, M., 2014. The new face of corporate patriotism: does being Ã¢â¬Å"localÃ¢â¬ matter to stakeholders?.Ã Journal of Business Strategy,Ã 35(4), pp.3-10. Schauten, M.B., Van Dijk, D. and van der Waal, J.P., 2013. Corporate governance and the value of excess cash holdings of large European firms.Ã European Financial Management,Ã 19(5), pp.991-1016. Wood, D., 2011. M&A transactions: What are the issues; what are the opportunities?.Ã Tax Specialist,Ã 14(5), p.238.
Wednesday, August 28, 2019
The Ineffectiveness of the Provisions of SGA in Allocating Risks - Essay Example The researcher states that transportation is a challenge that affects goods in transit. In many cases, problems arise during the transportation of a bulky consignment owing to the fact that such goods are likely to change hand from one mode of transport to another. Although the act addresses the concerns of the risk bearers in the case of loss, its introduction presents a complex perspective on the form of transportation. For instance, when there is a transportation of goods, it is likely that such a container of the goods may transit through different modes of transport like ships, rails or even the use of tracks. The act fails to give appropriate guidance on risk allotment when bulky goods transit through one mode to another. The issues arising from risk allotment to the various modes of transport is so complex that any amendment of the provision will require an appropriate method that quantifies and allocate the level of involvement between the modes of transport before allotting the risks. Further, the section provides the limiting factor to the scope of the act. The provision lacks a proper directive to offering direction on goods in transit. Perhaps, the best approach would involve splitting the risks and ensuring there is a clear definition of the bearers based on the different goods forming the consignment. In doing so, it would limit the risks of deterioration by splitting these risks occasioned during transiting by allowing the seller to bear the so-called extraordinary risks associated with casualty and accidents. The same approach would apportion the so-called necessary risks of deterioration, which is common to all goods undergoing transit to the buyer.
Tuesday, August 27, 2019
Brilliance Of Beethoven - Essay Example The jazz concert was held by Chicago old boys who performed the classical and also performed Christmas carols that they performed in an Acapella form they also performed the coward of a county and the gambler. There was a lady who also played the song coat of many colors by Dolly Parton who also DO you love me? This was a very beautiful season as this was the guest artist performing classical that have been great from the past. The Chicago boys lead conductor was Polycarp White, and he led different songs.The theme of the event was reviving the past and accepting oneself. The issue was more of trying to fight racism and declaring that we are one.The principal performers were the lady who was singing Taylor Swift song, and her name were Alison Peyton. She was performing using instruments, and also, she used Acapella form. There was the use of violin and also the flute and guitar. Not forgetting the Chicago boys band also used drumsets and piano.It was different when the guest artist joined the fray as they performed using the saxophone.Though the theme was about unity and together let's fight racism one could see other sponsors like the Walmart advising on contraceptives and responsible drinking. The pitched were many and different, and they varied depending on the performers. The string quartet was used by the lady Alison and her group as together they performed using the two violins.Oh, it was a beautiful piece.There were a vertical tone and a different pitch altogether.
Monday, August 26, 2019
On Ricardian trade - Essay Example On the same basis, England specializes in the production of cloth and imports wine according to the Ricardian model. The amount of wine produced from specialization in Portugal and the free movement of workers to the wine producing industry increases compared to an autarky situation. Cloth production by England also augments due to increased workers and specialization allowing for the fall in prices for both countries. This leads to an increase in the consumption ability of the people in both countries. Trade, therefore, can occur despite one country having absolute advantage in the production of both goods due to the presence of comparative advantage in the production of one good over another. Assumptions of the Ricardian Model include the assumption of perfect competition where there is perfect information, free entry and exit by firms, homogenous output among firms, firms cannot influence output and prices, and the aim of the firms are to maximize profits (Winthrop, 1344). The other assumptions are that there are two goods produced by two countries using one factor of production (labor) that is homogenous and freely moves between industries and that there is full employment. Other assumptions are general equilibrium, industry production of the goods and services, resource constraint and its immobility across countries, and lack of transportation costs for goods and services across countries (Winthrop, 1344). The structure of the Ricardian model is that a country that has comparative advantage in the production of a good specializes in the production of the good for domestic consumption and export while importing the good that it has comparative disadvantage in its production. The other country will specialize in the production of the second good for its domestic consumption and export the extra to the first country getting the supplies of the first good through imports. This results in benefit
Interview with a Health Professional - Essay Example There are increasing numbers of people who pursue careers in the health care industry. The reasons for delving into this challenging, yet rewarding array of health professions are diverse Ã¢â¬â which could be distinctly unique for some or universal as encompassing themes of care for others. The paramedic, in particular, is a dynamic and evolving career that interests people with genuine desire to provide immediate response to health dilemmas. The Australasian Council of Paramedic (ACP) (2008, p. 1) defines a paramedic as Ã¢â¬Å"a specialist health care professional who responds to requests for assistance and attends people suffering acute health crises of any natureÃ¢â¬ . Their roles and responsibilities encompass providing assessment, diagnoses and treatment to patients in health crises outside of the hospital setting. The paper hereby aims to initially conduct an interview with a health professional: a paramedic, specifically for this purpose; to summarize, reflect and evaluate on the findings and eventually to link specifically identified issues to related relevant literatures on the subject. To achieve the objective, the health professional interviewed is Peter Broadbent, a 30 year old paramedic based in Beverley Uranium Mine. The discourse would therefore summarize details from the interview and to provide a reflection with link to health literatures based on three issues: the concept of enjoyment in oneÃ¢â¬â¢s profession, the frustrating instances, and the significant factors that impact his profession. ... The discourse would therefore summarize details from the interview and to provide a reflection with link to health literatures based on three issues: the concept of enjoyment in oneÃ¢â¬â¢s profession, the frustrating instances, and the significant factors that impact his profession. Findings and Evaluation 1. Profile of the Interviewee With approval sought to cite his name and details provided from the interview in the current paper, Peter Broadbent has indicated that he has been working as a paramedic for four years with main responsibilities revealed by him as: provision of pre-hospital medical care in a remote location, health promotion, and testing employees for alcohol and other drugs, among others. His working hours on a weekly basis total 168 hours, with 84 hours on-duty and 84 hours on-call. Prior to delving into the details of the three specific issues identified that influence and impact his profession, Broadbent averred that from his experience, the two main issues he co nsidered prominently facing and affecting paramedics in their working life are fatigue and Ã¢â¬Å"burn-outÃ¢â¬ . 2. The Benefit of Enjoyment When asked Ã¢â¬Å"what do you enjoy most about your job?Ã¢â¬ , BroadbentÃ¢â¬â¢s reply was: (1) diagnosis and treatment of various illnesses; (2) interaction with patients and other members of the workplace population; and (3) the magnificent scenery in the Australian outback. Further, he clearly emphasized that having genuine enthusiasm for oneÃ¢â¬â¢s career choice is the secret to satisfaction and enjoyment. The ability to provide enjoyment, satisfaction or pleasure in oneÃ¢â¬â¢s job is linked to the theory of motivation in the work place, specifically MaslowÃ¢â¬â¢s hierarchy of needs, where people have varieties of needs that manifest
Sunday, August 25, 2019
Economies of Scale and International Trade - Essay Example As the report states that the pricing behavior of a company is generally assumed to be based on the motive to maximize profit. Pricing decisions may not be expected to influence that of other companies in a large economy. The two major factors considered in setting a price that maximizes profit are the Ã¢â¬Ëelasticity of demandÃ¢â¬â¢ and the Ã¢â¬Ëmarginal costÃ¢â¬â¢. A key factor that determines the elasticity of demand as a variable is the output. It therefore becomes necessary to fix a Ã¢â¬Ëprofit-maximizing outputÃ¢â¬â¢ as well as a Ã¢â¬Ëprofit-maximizing priceÃ¢â¬â¢. From the research it is clear that the primary assumption deals with the mass production of some goods in a community that shares a common Ã¢â¬ËutilityÃ¢â¬â¢ function. As such the acceptance of these goods is considered to be uniform. It is also assumed that production Ã¢â¬ËcostÃ¢â¬â¢ is a constant for all these goods, while the labor employed for manufacture is seen as a Ã¢â¬Ëlinear function of outputÃ¢â¬â¢. One factor that remains variable is the Ã¢â¬Ëelasticity of demandÃ¢â¬â¢ that each producer might have to tackle. While marginal costs are assumed to be stable, average costs are considered to be reducing. Manufacture of unit goods would match the numbers derived from individual consumer needs, which equals the number of individual workers. Yet another assumption is that there is Ã¢â¬Ëfull employmentÃ¢â¬â¢. An approach to a solution again is suggested in three steps. ... One factor that remains variable is the 'elasticity of demand' that each producer might have to tackle. While marginal costs are assumed to be stable, average costs are considered to be reducing. Manufacture of unit goods would match the numbers derived from individual consumer needs, which equals the number of individual workers. Yet another assumption is that there is 'full employment'. The Problem The problem is simply stated in a symmetrical manner with three variable factors that need to be arrived at: Pricing of each product in relation to corresponding wages Output of each product Total number of products manufactured The Solution An approach to a solution again is suggested in three steps. The first is to assess the 'demand curve' for a given company. The next step involves a study of the relative pricing policies that companies apply, and linking of output with the profitability factor. Thirdly, profitability as well as entry is studied to arrive at the number of companies. The demand curve for a given company is worked out by considering consumer behavior of individuals, based on budget availability and the 'marginal utility of income'. The level of individual consumption in relation to output is read as the total demand for the product of a company. The company's pricing policy can hardly influence the consumer's 'marginal utility of income' where there is mass production of goods. The pricing behavior of a company is generally assumed to be based on the motive to maximize profit. Pricing decisions may not be expected to influence that of other companies in a large economy. The two major factors considered in
Saturday, August 24, 2019
Climate Change, Global Warming, Renewable and Nuclear Energy - Essay Example However, the recently experienced variation particularly in the rise of global temperatures is arguably not as a result of natural variation alone but also the contribution of human activities. These activities are responsible for the heightened Carbon Dioxide levels and other heat trapping gases. Carbon Dioxide (CO2) and other Green House Gases (GHGs) such as Methane (CH4), and Nitrous Oxide (N20), contribute to global warming through their green house effect. These gases trap and retain the heat reflected from the earthÃ¢â¬â¢s surfaces, hence leading to extreme temperature rise (Turk & Bensel, 2011). The U.S. National Climatic Data Center indicates that global temperatures have been on the rise for the past three centuries. The last century saw an average rise in global temperatures of about 1.58 F with the Arctic warming twice as much (Turk & Bensel, 2011). The past 50 years data on severe temperatures have indicated a significant rise in temperatures; in other words, frosts, cold days and nights were less whereas heat waves, hot days and nights were more prevalent (Turk & Bensel, 2011). Also, this warming has not been attributed to the earth alone but also the oceans which have for the past years absorbed most of the heat present in the atmosphere. As a result, the oceans temperatures have increased significantly too. With time, this heat (from the oceans) will be released back to the atmosphere and this might result in further atmospheric warming. Currently, vast research suggests that global warming is ever increasing due to the high concentration of green house gases within the atmosphere. The green house effect is experienced widely. In fact, scientists at NASAÃ¢â¬â¢s Goddard Institute for Space Studies have established that there is a lot of absorption of sunÃ¢â¬â¢s energy than its emission. Hence, this imbalance is the chief cause of the green house effect (Pewclimate, 2011). The U.S. Global Change Research Program (USGCRP) produced a report in 2009 regarding the status of impacts of climate change in the U.S. According to it, human activities have greatly contributed to the rise in the concentration of the three main green house gases: Methane, Carbon Dioxide and Nitrous Oxide. Indeed, from the pre-industrial period these gases have increased in astonishing percentages. Carbon Dioxide has increased by 40 percent; Methane by 148 percent and Nitrous Oxide by 18 percent (Harding, 2007). Predictions indicate that with th e current rate in increase of global temperature, 2050 will be devastating as the global average temperatures will exceed to almost 280 C. This will result in sudden and irreversible changes such as loss of the Amazon forest, vast melting of the Greenland cap, and release of Carbon dioxide from the soils (Turk & Bensel, 2011). Worse still, it is feared that smoke, hazes and specks emitted from the fossil fuel and vegetation could be currently mitigating global warming by acting as a cover which could be averting solar energy back to space. The current trend of cleaning up air pollution will eradicate this Ã¢â¬Å"global dimming effectÃ¢â¬ resulting in future increases in average global temperatures by almost 100 C (Turk & Bensel, 2011). Renewable Energy Recently, there has been a major concern to switch from using fossil fuels to the renewable forms of energy. However, to achieve this, we should take note of two things. First, there should be intensive research so as to offer alte rnative sources of energy in order to cut down on the prices of energies. Second, there is need for the energy prices to depict their true value; in other words, these prices should reflect hidden costs such as the environmental costs which are linked to the
Friday, August 23, 2019
American Government assignment one - Essay Example In fact that was the very thing against which the Colonials had rebelled. This distrust in government engendered one which was inherently weak. The problem with the Articles of Confederation was that they sought to create a nation while still trying to allow the several states to keep powers typically only reserved for actual nation-states like taxation powers, war declaration powers, and the right to issue currency. Most of all, the Confederation had no executive branch and thus no recognizable head of state. The Constitution gave the new national government the power to issue currency and thus provided financial stability to the country (Henretta 2000, 222). It also established a clear executive and leader of the country in the person of the Presidency. The First President, George Washington, provided a unity which was conspicuously missing under the Articles (Maddox 2003, 78-79). James Madison said that the Constitution was necessary to establish Ã¢â¬Å"a strong government to cond uct foreign affairs and insisted that central authority would not foster domestic tyranny.Ã¢â¬ The Constitution gave the Ã¢â¬Å"central government broad powers over taxation, military defense, and external commerce as well as the authority to make all lawsÃ¢â¬ ¦to implement those provisionsÃ¢â¬ (Henretta 2000, 226). The Constitution ended the chaos of the Confederation and gave birth to the America we know today. Article 1.) David JacksonÃ¢â¬â¢s article in The Oval Ã¢â¬Å"House rebukes Obama over LibyaÃ¢â¬ (Jackson 2011) very much encapsulates some of the broad changes which have beset AmericaÃ¢â¬â¢s system of Federalism over the course of the last half century. The rise of the unitary executive in no way accords with the thoughts of the founders who very much sought to limit the executive branch through a unique system of checks and balances. The U.S. House of Representatives recently Ã¢â¬ËrebukedÃ¢â¬â¢ Obama for his continued prosecution of the military action in Libya. The US and its allies are seeking to bolster and support a rebellion led by anti-Qaddafi forces and to protect civilian targets which have borne the brunt of attacks by government forces. A coalition of fiscally conservative Republicans and rebellious Democrats managed to pass a resolution in the House against the Obama AdministrationÃ¢â¬â¢s bombing campaign. The meaningfulness of the resolution is nonetheless very much in doubt. Just after passing it, the House refused to cut funding for the operation in North Africa. It seems that the House resolution then was nothing more than a feel-good measure; things on the ground remain unchanged. The dispute concerns the 1973 War Powers Resolution which requires the President to seek Congressional approval of all military actions beyond 60 days. The Libya action has lasted well beyond 60 days but President Obama has still refused to obtain approval, claiming the War Powers Resolution does not apply because it is a NATO effort. At the root of the question is the explicit power held by the Congress to control spending and declare war. Jackson quotes Florida Representative Tom Rooney who said, Ã¢â¬Å"Only Congress has the power to declare war and the power of the purse, and my bill exercises both of these powers by blocking funds for the war in Libya unless the President receives
Thursday, August 22, 2019
Religious Dissent, Discord, Settlement and Religious Essay This section of the paper introduces the topic and the thesis. In support of the formation of the thesis, the introduction discusses a brief history of the Tudor reign, and how prior monarchies have created religious divisions within the English society. The introduction enumerates the main concerns surrounding the topics of religious dissent, discord, settlement and religious atmosphere that took place before and during the reign of Elizabeth I. The introduction also establishes the argument as to whether Elizabeth IÃ¢â¬â¢s solution to the religious conflict, the creation of a united church, was an important and feasible move considering the politics surrounding her reign and the pressing influence of Rome on the religious affairs of many countries, particularly in Europe. Although this would eventually lead to the formation of the Church of England and the English Reformation, it is important to examine the historical impact of Elizabeth IÃ¢â¬â¢s decision in terms of implementing a defined and united English church. II. The Religious Atmosphere Prior to Elizabeth II Overview Elizabeth IÃ¢â¬â¢s impact on the religious life in England can be attributed to the problems which she inherited; this section discusses these factors, briefly touching on the religious atmosphere during the reigns of Henry VIII, Edward VII and Mary I. As religion played an important role in England at that time, especially with the influence of the Roman Catholics pertaining to EnglandÃ¢â¬â¢s foreign relations with Rome and other parts of Europe, the religious atmosphere prior to Elizabeth IÃ¢â¬â¢s reign can be observed to represent deep divisions as some groups wanted to have a different interpretation and practice of the sacred Christian texts and rituals, whereas some wanted to follow the Roman Catholic way. Although this may seem like a small problem, religionÃ¢â¬â¢s role in the societies of those times was critical. At that time, the Church had a strong influence on the State, and this was something upheld by previous monarchs before Elizabeth I took the throne. Certain wars sprung out because of religious conflict, and it became a pressing problem especially as before Elizabeth I had to address the re-installation of Catholicism in England under Mary IÃ¢â¬â¢s period. II. a Religious Atmosphere Under Henry VIII II. b Religious Atmosphere Under Mary I III. Elizabethan Reign: Dissent, Discord and Religious Settlement and Atmosphere Overview This section provides a more detailed historical approach in Elizabeth IÃ¢â¬â¢s religious settlement. This takes from Elizabeth IÃ¢â¬â¢s decision to re-establish the Church of England and break ties with Rome. This section also touches on the different acts or laws implemented at that time which would serve as steps in the implementation of the Church of England and address religious divisions in the society. This section also provides a concise but substantive background on Elizabeth IÃ¢â¬â¢s installation as Queen in supplement to her religious settlement. This is an important aspect of the paper as Elizabeth IÃ¢â¬â¢s background provides the motivation and the decision of the queen, especially in terms of her religious settlement. IV. Elizabethan England: Religion and Renaissance This section touches on the English society during the Elizabethan era. This provides a background of the religious atmosphere in the country and how, during Elizabeth IÃ¢â¬â¢s reign, the English society started to change. This also gives a background on how and why Elizabeth IÃ¢â¬â¢s period has been considered as the Golden Age of English history in which this era became a point of significant accomplishments of literature and art, in addition to the prevalence of the Protestant Reformation mindset of the people. What is interesting is that although Elizabeth I would stabilise Protestantism in England, and she would be recognised for it, this did not prevent the emergence of the English Renaissance where the Elizabethan society would adopt a more open mind towards the arts and the sciences. V. Conclusion This paper concludes with an analysis of Elizabeth IÃ¢â¬â¢s religious settlement and how this would serve as an important seed to the formation of the English society especially in the religious and political context. This section also summarises the aspects of religious dissent and discord, especially as to whether Elizabeth I successfully addressed the deep religious divisions in the English society; this is an important point of discussion as her religious settlement was not just aimed to address religious conflict within the country but also as a means for her to install her legitimacy and rule an era of renaissance instead of religiosity.
Wednesday, August 21, 2019
Both sides of the debate Essay The purpose of this essay is to describe the arguments relating to nature nurture, providing evidence for both sides of the debate. In addition, an analysis of this evidence will be given and a measured conclusion drawn from the evaluation of such. When attempting to understand the composition and contributing factors to the human personality, both nature and nurture should be taken into consideration, in order to develop a balanced conclusion. When articulating this debate it is imperative to understand a definition of both nature and nurture. Nature is the term used to describe the genetic or inherent characteristics of a human and nurture is the term used to define the environmental factors, which contribute to the human persona. Both nature and nurture are now commonly viewed as intrinsic factors, which influence the character of an individual, thus psychologists are interested in the factors which influence behaviour both before and after birth. However this debate has been one of the most controversial and long-standing issues within psychology. Philosopher John Locke, writing in the 17th century surmised that all humans are born tabularasa, which is the Latin word, meaning blank slate. Locke suggested that all individuals have the freedom to determine their disposition. This extends the reader an approximation on the length of this debate. (http://en. wikipedia. org/wiki/Tabula_rasa) In opposition to this claim was Francis Galton, who coined the phrase nature nurture in 1883, who published a paper on Hereditary genius, in which he suggested that typically all distinguished individuals within society were related and that genius is therefore passed on throughout the generations. Galton even went on to argue that individuals with lower levels of intelligence should be prevented from reproducing children. Extremists such as Adolf Hitler later adopted this view during World War two, which subsequently caused the holocaust. (Hayes, 1998, page 31) The quest to distinguish between the biological characteristics of an individual and the effects of environmental stimulus has aroused the interests of many intellects for the past 300 years. Human traits are difficult to categorise as either due entirely to nature or entirely to nurture, and as such this has created crossover theorists such as Jean Piaget in the 1950s to extend credence to both nature and nurture contributing to the human persona. Piaget suggested that individuals develop in pre-determined stages, however this requires interaction with the environment. (Gross, 2005, page 582) Traditionally, the nature nurture debate did attempt to categorise these human traits and as such, this separated psychologists into two distinct groups empiricists and nativists. Empiricists are those psychologists who believe that the development of an individuals persona derives from predominantly environmental stimulus, such as learning and experience. Psychologists such as J. B Watson in 1913 extended credence to tabularasa. Watson believed that newborns have no innate content and therefore experience will dictate the persona of any individual. In contrast to this view, nativists such as Gesell in 1943 believed that an individuals persona is determined largely by genetic influences, which have little to do with external factors. As Gesell advised mothers, regarding a childs personality, to give up the notion that you can either produce (except through inheritance) or that you can basically change it. (Hayes, 1998, page 2) Genetic transmission is the term used to describe the process in which humans acquire biological characteristics from their parents. Cells within the body contain a substance called DNA which is arranged into long strands. These strands are referred to as Chromosomes, which are broken down into smaller units of DNA, known as genes. Humans are composed of 23 pairs of Chromosomes, half of which are passed from the biological mother and half from the biological father. As such an individuals genetic make-up is determined from the moment of conception. What is difficult to ascertain is how much these hereditary genes determine the human persona. The 23rd pair of chromosomes determines the biological sex into which the cells will form two X chromosomes produce a female and an X and Y produces a male. (Hayes, 1998, page 3-4) The biological sex of an individual is commonly considered to determine the gender of an individual. Gender can be defined as the role allocated to males and females at birth, according to their biological sex. However, there has been debate over gender and whether male and female genders have been created through the socialisation process which occurs from birth onwards. This view became popular in the 1960s, which led to the case study of David Reimer, which supports the nature side of the debate. David Reimer, formally known as Bruce underwent a routine circumcision on the 27th April 1966, at the age of 8 months. His twin brother was booked in for the same operation however Bruce was the first to undergo this procedure. The operation was performed by surgeon Jean-Marie Huot, who implemented the circumcision with a cautery machine, which was never intended for use on genitals. The results were horrific, and Bruces penis was ruined. Bruces parents consulted Dr John Money a psychologist researching sexual development and gender identity, who advised them that the solution would be sex reassignment, which would involve the removal of Bruces testicles and his gender reassigned as female. Money believed that gender was socially constructed and therefore not biologically predicted. Money therefore advocated that Bruce underwent this procedure to ensure a relatively normal life. At the age of 22 months old, Bruce became known as Brenda. Brenda was given female hormones to induce female characteristics, however, this did not aid her in feeling like a girl and by the age of 13 had suicidal tendencies. At the age of 15 Brendas parents told her of her gender reassignment and from that point onwards Brenda renamed herself David and resumed her former male gender identity. Davids twin brother Brian was deeply disturbed upon learning of his sister/brothers sex reassignment and later this developed into schizophrenia. (http://en. wikipedia. org/wiki/David_Reimer)
Tuesday, August 20, 2019
Land Degradation In The Nile River Basin Environmental Sciences Essay Per capita availability is generally calculated by dividing total annual renewable water resources with population. While this could provide an accurate picture for countries with no dependency on external water resources, it does not provide an accurate depiction for countries with trans-boundary water resources. Taking into account the dependency ratio of the countries provides a much more realistic depiction of future water resources. For instance, Uganda has a 40.9% dependency ratio for its total annual renewable water resources (Rwanda, Burundi, Tanzania, DRC and Kenya contribute runoff into Lake Victoria). This will be impacted when increased water demand in upstream nations results in reduced water runoffs into Uganda. Egypt which originally had a 98% dependency ratio has been able to bring down its dependency by increasing alternate water resources but still has a 76% dependency ratio (55.5 BCM out of 73 BCM). Chapter 4 Land degradation is one of the challenges faced by several countries in the Nile River Basin. Land degradation comprises of any negative or undesirable change in the texture, content, moisture of land due to a combination of natural hazards and man-made activities. The African continent is characterized by 46% of extreme desert and 11% of land mass that is humid. Presently, in Africa around 250 million people are directly affected by land degradation while, worldwide 1 billion people in 100 countries are at risk of land degradation. The causes of land degradation are a combination of changes in the natural ecosystem, and the impact of the human social system, including human use and abuse of sensitive and vulnerable dry land ecosystems. Land Degradation in the Nile River Basin In Rwanda, around 71% of total land area is facing severe degradation and about 60% of its forest cover has been lost in the last two decades partly due to genocide, displacement and repatriation. Similarly, more than 30% of Burundi is severely or very severely degraded. In Tanzania, widespread land degradation is found in the highlands, especially on the slopes of Mt. Kilimanjaro. Kenya faced about 30% land degradation in 2002 and around one third of its population was directly dependent on degraded land by 2008. Also, land degradation is widespread in Kenya, affecting 20% of all cultivated areas, 30% of forests, and 10% of grasslands. Uganda faces land degradation and erosion covering 60% of its total land area, the majority of which is in the highlands of the South-west. Ethiopia also faces land degradation mostly in its highlands, especially in the Amhara region. It is estimated that Ethiopia loses 4% of its GDP due to land degradation. In Sudan, approximately 1,200,000 km2 of land has degraded in varying degrees. The most degraded zones are the arid and semi-arid regions in the Northern half of Sudan where 76% of the countrys population resides. In Egypt, the North-western delta faces highest degradation due to contamination and increased salinity. Common Causes of Land Degradation in the Nile River Basin Some of the causes for land degradation in the Nile River Basin are as follows: Population Pressure: Growing population in the Nile River Basin countries puts immense pressure on land and its resources leading to severe degradation and reduced outputs. For instance, the majority of the population in Egypt and Burundi, 98% and 58% respectively, live in the Nile Basin. In Kenya, 70% of the population lives in 12% of the countrys land area which is suitable for rain-fed cultivation, thereby putting immense stress on its resources. Deforestation: The most common cause for land degradation in the Nile River Basin is deforestation. To adhere to the needs of growing population, forests are cleared and there is immense pressure on its resources. In Rwanda, the forest area was reduced to 4700 km2 from 7000 km2 post the genocide in 1994. Deforestation also took place due to increased need for wood to construct makeshift shelters for displaced people and for cooking. Bushfires have also become common especially in the dry seasons in the Eastern and South-eastern regions of Umutara, Kibungo and Bugesera. In Burundi, the rate of deforestation in high due to increased dependency on wood for fuel. The forest cover declined from 11.3% in 1990 to 5.9% in 2005. In Tanzania, deforestation is severe in areas populated with refugee populations. Also, wild fire is common in its grasslands. Between 1990 and 2005, Uganda lost one-third of its forest area due to deforestation. It is estimated that at this rate, Uganda will not have any forests by 2055. Uganda loses around $ 200 million annually due to deforestation. Deforestation is a major factor for land degradation in Ethiopia. While the forests once covered 65% of the country and 90% of the highlands in Ethiopia, by 2001 they were reduced to 2.2% and 5.6% respectively. The Blue Nile basin faces such severe deforestation that very little forest cover remains in the region. The forest coverage fell from 16% to 2% in the 1980s itself. Over Grazing: The demand for livestock is high in the Nile River Basin. Cattle farming leads to over grazing in fertile lands, depleting its quality and productivity. In Rwanda, over grazing is observed in range-lands especially in the North-west parts of Umutara. In Tanzania, over grazing is witnessed mostly in the Lake Victoria Zone and parts of Northern Tanzania. Over grazing accounts for 75% of the total degraded land in Sudan. In Uganda, the cattle corridor has most of its land degraded due to over grazing from Moroto and Kotido in the North-east through Luwero and South to Masaka and Mbarara. Leaving aside the North, most of the Corridor is seriously degraded. Lack of Awareness: Improper farming practices, poor soil management policies due to lack of awareness also lead to land degradation in the Nile River Basin. For instance in Rwanda, only 36.6% of the total land had soil protection structures in 2005 as compared to 83% in 1998. Climate Change: Climate change is another factor due to which there is immense land degradation. Increasing instances of floods and droughts lead to wide spread land degradation. There are various forms of land degradation. These include Soil erosion and sedimentation Surface runoff and floods Desertification and loss of natural vegetation Sand encroachments Sedimentation and Soil Erosion Sedimentation has three stages. It starts with soil erosion which is essentially the removal of top soil which is then transported and deposited in different locations depending upon the flow of water or wind or gravity. Some of the causes of sedimentation include deforestation which reduces water retention thereby increasing soil erosion; floods and droughts; and changes in river flow. Sedimentation in the Nile River Basin is witnessed the most in the Nile Equatorial Region, Blue Nile catchment and the coastal belts. Wide spread deforestation has a detrimental impact on the sedimentation levels in the Nile Equatorial Lakes and leads to increasing soil erosion. The siltation of the Nile Equatorial Lakes if combined with unusually high rainfall could lead to a rise in the lake levels which could in turn lead to flooding. The key problem sites for soil erosion in the Lake Victoria Basin are the Kagera River and the Nyando River in Kenya. Due to its topography and torrential rainfall, the Blue Nile catchment faces high rates of sedimentation as compared to the White Nile, whose sedimentation is largely retained in the Equatorial Lakes and the Sudd region. While the Nile catchment runoff is estimated at a low rate of 5.5%, the ratio of the runoff of the Blue Nile catchment on its own is 20%. Sedimentation has a negative effect on reservoirs built along the Nile River Basin. It clogs the area thereby reducing the amount of water that can be stored. Rwanda Around 40% of land in Rwanda is at high risk of erosion, 37% requires soil retention measures before cultivation, and only 23% is erosion free. Data from field research stations report soil losses between 35 246 tonnes per hectare annually, amounting to losses costing about 3.5% of Rwandas agricultural GDP. The Nyamitera River delivers 567,000 tonnes of particles in a matter of five flood days to Rwanda, of which more than half is the annual suspended sediment yield of its Nile Basin region. Increasing use of land for tea cultivation is also leading to sedimentation in Rwanda. The Mulindi tea plantation in Gicumbi district uses fertilizers that cause soil degradation, water pollution and deforestation, which in turn results in soil erosion, floods and sedimentation in the valley. Burundi Deforestation, over grazing and agricultural expansion into marginal lands are the main factors leading to soil erosion in Burundi. The sediment yield of Burundi and its contribution to the Nile basin is presently unavailable. Sedimentation causes many problems in Burundi including blocking inlet channels of pump irrigation schemes, clogging hydropower turbine areas, corroding pumps among others. Tanzania The main type of erosion witnessed in the Lake Victoria Basin in Tanzania is sheet erosion where a uniform thin layer of top soil is washed away. In Tanzania, 61% of land area faces soil erosion with a topsoil loss of 100 tonnes per hectare per annum. Highest soil loss within the Lake Victoria Basin is from cropland which loses 93 tonnes per hectare annually, followed by rangeland losing 52 tonnes per hectare each year. Additionally, there has been soil loss in Shinyanga, Dodoma, Morogoro, and Arusha. Also, Kagera Basin is vulnerable to soil erosion and leaching of nutrients due to its high population and poverty levels. The Masalatu Reservoir constructed on Simiyu River receives an annual sedimentation yield of 406 m3/ km2 or 1.43 tonnes per hectare. Kenya The Nyanza province bordering Lake Victoria is undergoing rapid catchment deterioration due to frequent droughts, deforestation and old agricultural practices. This results in Kenyas high sedimentation load contribution to Lake Victoria Basin through its tributaries. 61% of the basin area contributes to soil sedimentation at a rate of 43 tonnes per hectare each year, whereas the rest of the basin forms a sink area where sediments are collected. Due to high sedimentation on the bed, the rivers Nyando, Nzoia and Sondu, and other tributaries emptying into Lake Victoria are prone to flooding. Surface runoff in wet season causes sheet, rill and gully erosion. Wind causes erosion in dry season. Nyando River experiences severe gully erosion due to heavy water runoff. The removal of the top soil is very high ranging from 90 tonnes per hectare annually in degraded areas, to 67 tonnes per hectare elsewhere. Uganda Major source of soil erosion to the Lake Victoria Basin is the Kibale River at 0.06 tonnes per hectare annually. Runoff in sub-catchment of Bukora is the main reason for causing soil erosion. Soil loss rates are the highest on bare soils, followed by annually cultivated land, degraded range lands and perennially cultivated land. Lake Albert is also under threat of siltation due to inflows from Kyoga Nile, as well as Semliki River which carries sedimentation from DRC. It is estimated that 4% 12% of GNP is lost from environmental degradation, of which 85% is through soil erosion, nutrient loss and crop changes. Also, the rate of soil fertility depletion in Uganda is one of the highest in Sub-Saharan Africa. Ethiopia There is high erosion in the Ethiopian Highlands. Around 1900 million tonnes of soil is eroded annually at an average of 100 tonnes per hectare. Also, up to one billion tonnes of top soil is lost each year. The Highlands face severe types of soil erosion including sheet, rill, gully and wind. It also witnesses stream bank erosion, biological, physical and chemical degradation Blue Nile is the major contributor of sedimentation during the flood season, contributing approximately 125 million tonnes, while the Atbara contributes roughly 50 million tonnes. The flows of the Blue Nile are unregulated until they arrive in Sudan leading to an enormous amount of sedimentation at the Roseires Dam. With increased deforestation and agricultural activities along the banks of the Blue Nile, there is a substantial amount of debris added to the flow which is carried downstream. The proportion of runoff to sedimentation is higher for the Atbara River which is due to its geographic location in a drier region than the Blue Nile and also due to a relatively longer period of dry season followed by heavy rainfall in a relatively short period. Sedimentation peaks three weeks before rainfall peaks as rainfall washes away soil loosened due to loss of moisture during the dry season. A decline in crop yields has been witnessed at a rate of 1 to 3% on cropland and 2.2% in Ethiopian highlands. It is estimated that the cost of land degradation due to soil erosion to Ethiopia could be about $2 billion in 25 years or $80 million each year. About 80% of the losses are from reduced crop production and 20% from reduced livestock production. Soil nutrient depletion reduces crop production by 885,330 tonnes annually amounting to losses of around 14% of agricultural contribution to Ethiopian GDP. Sudan Soil erosion is leading to rapid siltation and loss of functionality of reservoirs and irrigation schemes in Sudan. The small reservoirs get silted quicker. Irrigation schemes are witnessing major damage due to siltation which is leading to a reduction in water transported to crop lands. For instance, crop water requirements are no longer met in the Gezira and Rahad irrigation schemes. River band erosion along the Blue Nile River has been witnessed with most affected areas lying downstream of Roseires Dam, Singa to AlSuki. River widening in the region also leads to bank erosion where irrigable land is lost as has been witnessed in the main Nile and Atbara River sections. Around $1.5 million worth of economic losses have been witnessed via the loss of mature date palm trees as a direct result of bank erosion. Egypt The Nile Bank is witnessing bank erosion due to the corrosive action of sediment free waters as witnessed in Sudan past Roseires Dam. Agricultural land is depleting at a rate of 13,000 hectares on an annual basis due to bank erosion. Increase in coastal erosion and extensive erosion of the Nile Delta is being witnessed due to lack of sedimentation and increase in salinity levels. Sedimentation in Reservoirs Sedimentation is the single greatest problem reservoirs face in maintaining their functionality for water storage, as well as for hydropower generation. Hydropower generation is reduced during peak sedimentation periods as debris gets caught in the turbines and need to be shut down for cleaning. Sedimentation stuck in the cooling mechanism of the hydropower plant leads to loss of efficiency in energy generation and also requires shutdown for repair. Also, silt adds to the wear and tear of the plant which decreases the lifespan of the machinery, depending on the abrasiveness of the mineral content in the silt. Hydropower generation is often stalled during floods to clean turbines and prevent damage resulting in very low power generation during flood season. Sedimentation also leads to reduced water storage capacity which results in less water for irrigation and cost of construction to raise the dam to maintain storage capacity. Currently, the cost of clearing sedimentation is prohibitive at $625 million ($5 to clear 1 m3 of silt, about 125 MCM is being cleared per year). Roseires Dam The primary mandate of the Roseires Dam is to ensure that runoff levels are maintained to meet irrigation and water storage requirements. The Roseires Dam is losing considerable parts of dead water storage capacity, as well as live storage capacity. In 1966, its storage capacity was 3,329 MCM which has been reduced to 1,920.89 MCM as of 2007, leading to a 37% decrease in storage capacity. The Roseires Dams height has been elevated in order to mitigate losses in functionality and another elevation project is being currently discussed. Aswan High Dam in Egypt Aswan High Dam has 100% trap efficiency of sedimentation which means that waters are almost perfectly sediment-free beyond the Aswan High Dam. Sedimentation transported to the reservoir and deposited there is practically negligible from December to June, peaking from July to September, reducing in October and November to none in December. Aswan High Dam is losing considerable part of live storage capacity, as opposed to dead storage capacity which was designed to absorb sedimentation. The reservoirs total operational span has been reduced to 362 years from an initial estimate of 500 years as a result of sedimentation. Desertification The African continent, with the Sahara desert in the North and the Sahelian belt below, is vulnerable to desertification. This condition is exemplified with increasing instances of drought and famines. The causes of desertification are complex, including both direct and indirect factors such as: Cultivation, inappropriate agricultural practices and overgrazing Unsustainable animal husbandry and pastoralism Climate change including reduced rainfall Population growth pressures Poor land use and management practices Lack of soil and water conservation structures; Removal and loss of vegetation; Deforestation and land clearing; Total dependency on natural resources for survival; Human activities comprising technological agents (water pumps, boreholes, dams) and institutional mechanisms and policies. Desertification in the Nile River Basin East and South-east regions of Rwanda show increasing desertification trends due to increase in population and migration leading to over exploitation and degradation of land. People from densely populated provinces in the North, for instance Ruhengiri, Gisenyi and Byumba, and Butare and Gitarama in the South, are moving towards the least populated provinces in the East including Umutara, Kibungo, Kigali and Ngali in the South East. In Burundi, the area of Imbo witnesses long dry spells leading to a gradual decrease in water resources, especially in the levels of Lake Tanganyika with a tendency towards desertification. Since 1999, there has been a strong variability of rainfall with a tendency for a long dry season from May to October (6 months) in the lower altitude outlying areas like Kumoso, Bugesera, and Imbo. In Tanzania, the main reason for desertification is expanding agriculture rather than overgrazing by pastoralists. Around 33% of Tanzania is affected by desertification. The coastal areas face pressure from intensive cultivation and fuel wood gathering. In Kenya, 80% of its area is estimated to be threatened by desertification with up to 30% of the population affected by desertification and drought. Drought and increasing population are key factors that enhance desertification in Kenya. The Nyika Plateau and the Coastal Region are affected and threatened most by desertification. Also, the woodlands are prone to drought and desertification, primarily due to slash and burn methods of land preparation. Kenyas drylands occupy 88% of the land surface area, and have a population of 10 million people. Approximately 50% of livestock and 70% of wildlife are located in these drylands. In Uganda, the North-east, especially the Cattle Corridor has been witnessing overgrazing, soil compaction, erosion and the emergence of low-value grass species and vegetation which have subdued the lands productive capacity, leading to desertification. Some dryland districts like Moroto, Nakasongola, Karamoja and Kakuuto in Rakai are experiencing desertification. Around 71% of Ethiopian land is prone to desertification including its highlands and lowlands. The Rift Valley suffers immense desertification and land degradation. Desertification threatens Ethiopias agricultural productivity, wherein more than 80% of the population depends on various forms of agricultural production. Also, 95% of the farms are small-scale and depend on rain-fed agriculture. Ethiopia suffers a loss of $139 million per year due to reduced agricultural productivity. Sudan and parts of Egypt are more prone to desertification in the Nile River Basin. Egypt has experienced accelerated desertification of rangelands in the last few decades. Presently, 45% of rangelands are severely degraded, 35% are fair, 15% are good, and 5% are excellent. It is reported that 11,000 hectares of land has been lost due to desertification. Parts of Western Egypt fall into the Sahara and are hot and dry areas which are extending into the mainland. Increasing evaporation has also led to drying out of one of the Toshka Lakes. Egypt witnesses various forms of desertification such as: Degradation of irrigated farmland due to low quality water in irrigation Degradation of rain-fed farmland (Northern coastal belt and Northern Sinai) Degradation of rangeland (Northern coastal belt) through overgrazing, plant covers degradation Sand Encroachments from the Western desert on the Nile Valley land (Southern Egypt) and on the High Aswan Dam reservoir (in Egypt and Sudan). Desertification in Sudan In terms of desertification, Sudan is the largest and most seriously affected country in Africa. The arid and semi-arid lands cover an area of 1.78 million km2, constituting around 72% of the total area of the country. There is moderate to severe land degradation in the desert and semi-arid regions in the Northern half of Sudan. The Western part of Sudan (in the Sahel region) is most prone to drought and increasing desertification, especially the states of Darfur, Kordofan, Khartoum and Kassala. The total desertification between Darfur and Kordofan is 22% i.e. 200,000 km2. A decline in precipitation has caused a stress factor on pastoral societies in these two regions, thereby contributing to conflict. There is a very strong link between land degradation, desertification and conflict in Darfur. In northern Darfur, increasing population growth, lack of resources and environmental stress led to conflicts which were further sustained by political, tribal or ethnic differences. As a consequence of desertification in Darfur, there has been increased mortality due to famine and disease, a decrease in total water and land availability, quality of water and land (including fertility), production of major staple foods, and deaths of domestic animals. It is estimated that since the 1930s, there has been around 50 to 200 km Southward shift of the boundary between semi-desert and desert. This boundary is expected to continue to move Southwards due to declining precipitation. The remaining semi-desert and low rainfall savannah, which represent 25% of Sudans agricultural land, are at considerable risk of further desertification and could lead to a 20% drop in food production. Sand Encroachment Instances of desert encroachment in Sudan are increasing, whereby the entire strip of the country along the Nile especially between Delgo and Karima in Northern Sudan is threatened. Sand dunes on the Eastern bank of River Nile in Sudan and encroachments in North-central regions can threaten the rivers course. Sand encroachment is also affecting the productivity of soil which has been witnessed extensively in the Gezira scheme and also in some areas of North Kordofan, North Darfur and Kannar in the Northern State, Sudan. In the Dongola-Merowe region of Sudan, the area covered by sand dunes increased from 51.2 km2 to 61.2 km2 between 1976 and 1996 and decreased to 35.1 km2 in 2000. This decrease could be attributed to an increase in the area covered by gravel and/or coarse sand. In Egypt, active sand dunes and encroachments occupy more than 16.6% of the countrys total land area. Sand encroachment in Egypt is further enhanced by the erratic rainfall, active winds, and scarcity of plant cover. Some inactive sand accumulations have been noticed in the Eastern side of the Nile delta and in the Sinai Peninsula. Types of Desertification Processes Underway in Sudan Climate-based conversion of land types from semi-desert to desert The least drought resistant vegetation fails to survive and reproduce. For instance, in Northern Darfur and Northern Kordofan, this is manifest in the widespread death of trees during drought events which are not followed by recovery. The desert climate is estimated to move Southward by approximately 100 km over 40 years. Degradation of existing desert environments, including wadis and oases At least 29% of Sudan is desert, within which there are hundreds of smaller wetter regions resulting from localized rainfall catchments, rivers and groundwater flows. It was discovered that all these areas were moderately to severely degraded, primarily due to deforestation, overgrazing and erosion. Conversion of land types from semi-desert to desert by human action Activities such as deforestation, overgrazing and cultivation result in habitat conversion to desert, even though rainfall may be sufficient to support semi-desert vegetation. One of the problems is the conversion of dry and fragile rangelands into traditional and mechanized cropland. Chapter 5 Water Quality Several factors pollute Nile waters, in particular faecal coliform bacterial contamination caused by lack of sanitation facilities and a high dependence on pit latrines, leading to presence of animal and human waste alongside open water bodies. Additionally, agricultural fertilizers and pesticides discharge high concentrations of nutrients and phosphates that runoff and leak into ground and surface water. Also, chemical pollution from industrial waste, mining activities and domestic sewage are released into water bodies without any effective wastewater treatment. Furthermore, sedimentation and siltation caused by deforestation, land degradation and soil erosion impact overall water quality. Lastly, poor planning practices, weak infrastructure and inadequate wastewater treatment systems add to the untreated water discharge. Some of the impacts of water pollution are death and destruction, loss of livelihood and income, and health hazards. The problem with a transboundary water resource in terms of water quality is that, polluted water from one area flows into the other area. This is specially witnessed in the Lake Victoria Basin. Water Hyacinth is another transboundary issue between the countries as it has a tendency of spreading fast and also leads to increased evaporation. Pollutant loads are washed away along with runoff and sedimentation loads which lead to water quality deterioration further downstream, rendering it non-viable for drinking purposes. Rwanda The main sources of water pollution are domestic, commercial, industrial, agriculture, water hyacinth and mismanagement of wetlands. Due to increased population and agricultural practices, inadequate sanitation facilities, there is an extensive use of fertilizers and pesticides. Also, wastewater from rural towns and villages containing faecal pollution are left untreated, giving rise to water borne diseases. In River Nyabugogo, there have been high rates of Iodine at 7.62m per litre. Additionally, there are large concentrations of Copper at 1.3mg per litre, Fluoride at 1.85mg per litre, Ammonia at 1.7mg per litre and Sodium at 105.3mg per litre. Also, Hexavalent Chromium was found ranging between 0.09 to 0.28 ÃÅ½Ã ¼g per litre. Although the Rwandan Ministry of Lands, Environment, Forest, Water Mines (MINITERE) and ELECTROGAZ have laboratories in place for water monitoring, the data is insufficient. The water drinking standards have been defined but have not been adopted yet. As a result of eutrophication by water hyacinth and agricultural pressure, Lakes Mihindi and Muhazi in Southern Rwanda are diminishing in size. Burundi There are several types of water pollution including bacteriological pollution from animal waste, organic pollution due to waste effluent from coffee processing plants, and industrial pollution via chemical fertilizers such as nitrates, phosphates and pesticides. Some of the causes of pollution are high demographic density, lack of latrines and waste dumping, and mining activities resulting in discharge of heavy metals and arsenic, especially in River Kanyarus tributary, Nowgere. Bujumbura accounts for 90% of industries in Burundi. However, data regarding industrial pollution is unavailable and not much has been achieved in monitoring and managing water quality due to under-resourcing of laboratories. Tanzania The water quality in Tanzania is affected by natural factors and human activities. The former comprises high fluoride concentrations and salinity in natural waters. The latter includes discharge of municipal and industrial wastewater, run-off from agricultural lands, and erosion encompassing high concentrations of nutrients, pathogens, BOD and COD levels. Additionally, gold mines in the Lake Victoria Basin consist of heavy metal pollution. Tanzania has no comprehensive national program for monitoring the quality of water or pollution even though water utility companies are required by law to monitor the water source and quality of water they supply. Kenya Water pollution in Kenya is caused by point and non-point sources such as agricultural activity, urbanization, industry, leachates from solid waste tips, sediments, salts, fertilizers and pesticide residues. Additionally, municipal sewerage plants discharge untreated wastewater into surface watercourses, causing significant health hazards and localized eutrophication. Tanneries, pulp and paper mills, coffee processing factories, breweries and sugar cane processing facilities do not have effective wastewater treatment plants and their effluents contribute organic loads, heavy metals and other toxic substances. The point pollution sources include sugar, paper, and fish industries, and also municipal sewage, oils and lubricants, marine workshops, petrol stations, human wastes and refuse from market and urban centres and fishing villages. The main non-point pollution sources comprise high nitrate, phosphate and pesticides from poor application of agricultural chemical and soil erosion. The Kenyan Lake Victoria Basin has a population of 12 million people and a low depth of approximately 6 meters, thereby causing an inability of catchment areas to perform purification of water. Although only 8% of Lake Victoria falls into Kenyan territory, tributaries such as Sio, Nzoia, Yala, Nyando and Mara are already severely polluted and contribute further to the lake pollution. Uganda The increased demand and use of pesticides, fungicides, herbicides and fertilizers is impacting the water quality in Uganda. Agricultural practices account for 50% of nitrogen and 56% of phosphorus into the Lake Victoria Basin. Additionally, the exploitation of petroleum threatens the overall ecosystems of Lake Albert and Edward Basins. The Northern end of Lake George, Uganda, and its associated wetlands receive localized metal pollution from a former copper mine and tailings left after metal extraction. There is a
Monday, August 19, 2019
Code of Business Conduct and Ethics Introduction The TSYS Code of Business Conduct and Ethics (the "Code") covers a wide range of business practices and procedures. While it does not cover every issue that may arise, this Code outlines basic principles to guide all employees and officers of the Company and its majority-owned subsidiaries ("team members"). In addition, all members of the Company's Board of Directors and members of the boards of directors of the Company's majority-owned subsidiaries, in regard to their Company duties, are responsible for conducting themselves in connection with the applicable provisions of this Code. Team members and directors must conduct themselves accordingly and seek to avoid even the appearance of improper conduct. The Code will be provided to all team members and directors and should also be provided to the Company's agents and representatives, including business partners, vendors and consultants. If a local, state or national law conflicts with any policy in this Code, team members and directors must comply with the law; however, if a local custom or policy conflicts with this Code, team members and directors must comply with the Code. A team member who has questions about these conflicts should ask his or her supervisor how to handle the situation or call the Helpline. Team members who violate the standards in this Code will be subject to disciplinary action. If you are in a situation that you believe may violate or lead to a violation of this Code, follow the guidelines described in Section 12. 1. Compliance with Laws, Rules and Regulations Obeying the law, both in letter and in spirit, is the foundation on which this Company's ethical standards are built. All team members and directors must respect and obey the laws and all applicable rules and regulations of the cities, states and countries in which the Company operates. Although team members are not expected to know the details of each law, it is important to know enough to determine when to seek advice from supervisors, managers or other appropriate personnel. This Code of Business Conduct and Ethics and additional information is available to every team member online through the enterprise portal ( insite ) as well as made available to new team members during their orientation. 2. Conflicts of Interest All team members and directors should avo... ...ocedures. The section deals with how to comply with the procedures in the code of Ethics. They have included steps that should be taken if there has been any violation of the code of ethics witnessed by an employee. I feel, after reviewing the sections of the ethics statement, that the purpose of the ethics statement is to have a written procedure for employee behavior and compliance of the policies and procedures of the company. After reading the ethics statement, I honestly feel that the company succeeds in the purpose of their mission statement. They have laid out all of the procedures that need to be followed and have included steps to take if you observe a violation in the code. If I were an employee at TSYS, I believe that the Code of Ethics, as it has been written, would contribute favorably to my work environment. If no one observed the ethical guidelines, there probably would be a lot of people going to serve prison sentences in federal penitentiaries due to Insider trading laws, and national and foreign policies that are already in place. I do not think that there is anything that I would change or anything that needs to be improved on.