Reading Reflection Essay Example for Free

Perusing Reflection Essay From the outset, I think education has two implications. The principal significance is culture or human advancement and the subsequent importance is the capacity to compose and peruse. Both importance are fundamentally the same as, they are identified with social information. In any case, in today’s society, proficiency not just methods culture. The idea of data proficiency is individuals can adequately utilize and perceive the data. Additionally, individuals can reclassifying and assess themselves in today’s data society. By perusing Nunberg’s Teaching Students to Swim in the Online Sea, I think the idea of proficiency is the recognizing capacity of individuals. These days, much information is getting from Internet. These are recycled materials, not the essential sources. A few assets are false. The manner in which each individuals think about the Web is totally different. It tests their observing capacities. Like a great many people judge the validity of a site by its outward. The data education intends to have the option to successfully recognize, assess, and utilize the data. Likewise, the data proficiency is extending to incorporate the guide, media, and some electronic content. The data education has a more profound significance. Understudies are profoundly recognizable about site and web search tool. They are successfully incorporating the idea of data proficiency into their learning programs. For me, I think the data proficiency is useful for undergrads. Since it can enable them to perceive when the data is required, they can utilize the data. Education data is progressively significant in school life. Understudies confronted with different, rich data consistently. It was a major test for them.

Conditioning: Psychology

Learning is a significant expertise that all life forms must gain so as to endure or fall prey to Darwinism’s fundamental thought of natural selection. Learning is the dependable impact of an adjustment in conduct. This would contract the utilization of picking up molding to a couple of uses. The three most conspicuous applications are traditional molding, operant molding, and learning by perception. Each sort of learning is unique, yet utilizes comparable thoughts, for example, an unconditioned boost, which is normally food, and an unconditioned reaction, which food is related with salivation and yearning. There are a few different ways that an individual can condition a creature to learn abilities through three unique utilizations of learning: old style, operant, and perception. The possibility of old style condition is one of the most outstanding learning procedures since it includes an improvement compensated for a specific reaction. Normally, creatures and human have unconditioned improvement that triggers an unconditioned reaction. The most widely recognized association is the connection among's food and salivation. Food normally attracts life form to it request to fulfill a drive made by appetite to get homeostasis. A reaction is made due to the organism’s response to food, which is generally salivation. Traditional molding is viewed as a compelling method to prepare a living being to learn propensities not normally connected with certain unconditioned boost. This makes a molded improvement. The once unconditioned reaction is currently adapted to react to the molded improvement, which is known as a molded upgrade. A case of adapted boost and reaction is the case of partner the school ringer with food. Youngsters are ravenous essentially, however when the school ringer is included, the kids are strengthened to relate the school chime with noon. Old style molding is compelling while attempting the show a life form an aptitudes by remunerating the life form with an unconditioned improvement. An individual could utilize old style molding to show a life form to learn aptitudes that could help in their own endurance, for example, instructing human to turn away certain food in view of taste. On the off chance that one were being educated to deflect away from sharp tastes, the educators would initially utilize a food that was amazingly acrid. By utilizing the person’s intrinsic nature of yearning, they would give the individual a lemon to eat. This sharp furthest point would make the individual stay away from lemons. The instructor would constantly utilize this strategy until the individual has gained the expertise of repugnance of lemons. The student would have a securing of the ability. The educator would then condition the student in a variable interim to continually fortify the expertise. The student would then maintain a strategic distance from all lemons. This may make the student sum up the idea of lemon, for instance, the student may sum up the yellow shading to represent every single acrid item, for example, summing up bananas as being harsh. The instructor would then have the commitment of showing the individual how to separate things, with the goal that his repugnance is simply towards lemons. While old style molding includes the boost being remunerated to cause a reaction, operant molding manages changing the event and types of conduct. The principle distinctive between operant molding and old style molding is the operant molding manages altering the learner’s willful conduct. Operant molding include results to show wanted abilities. There are two different ways that operant molding works, through support and discipline. Support comes in two flavors: uplifting feedback and negative fortification. Uplifting feedback is the instructor adds something of delight to the learner’s conduct so as to get a specific aptitude. A model would be a mother permitting her youngster to play computer games if the kid put the refuse outside. The mother utilizes the great upgrade, which is the computer games, so as to accomplish a conduct, which is taking out the junk, out of the youngster. There is additionally negative support, in which negative fortification is the instructor evacuating an aversive upgrade, which is typically observed as undesirable, so as to build the recurrence of a specific conduct. For instance, when somebody gets up promptly in the first part of the day, they utilize a morning timer to reveal to them when to wake up. At the point when the morning timer is actuated, it imparts a sign, which is typically an irritating humming clamor, to the student that the time has come to wake up. To fortify the conduct of awakening, the student must get up from bed to kill the aversive improvement. Fortifications are results of fortifying ideal practices. Disciplines, then again, are outcomes in which the instructor attempts to decrease the recurrence of ominous practices. Similarly as with fortifications, there are additionally positive and negative disciplines. Positive discipline alludes to happened conduct followed by aversive incitement, for example, stun. A case of positive discipline would be if a youngster had talked negative to the mother, and the mother would react with a slap on the wrist so as to diminish the recurrence of such conduct. Negative discipline, then again, is the expulsion of a pleasurable improvement after the event of an unfortunate conduct. Similarly as with the case of the mother, and the youngster taking out the refuse, if the kids had not taken out the garbage, the mother would rather remove the computer games to decrease the recurrence of not taking out the waste. The issue with discipline is that it might make the student exhibit terrible conduct in light of the discipline through reactions of dread or outrage, as opposed to reduce the event of the aversive conduct. Operant molding is more successful utilizing fortifications than discipline. Be that as it may, utilizing the two features effectively is the best way. An individual could train another through operant molding in the event that one might want to change a deliberate conduct in another. The instructor would need to utilize fortifications to fortify the ideal conduct from the student. For instance, if the individual needed the student to wash the dishes in the wake of eating, the individual would need to give a motivator to the student all together for the conduct to proceed, for example, letting a kid play computer games subsequent to finishing his errands. The nonstop incitement by the uplifting feedback would permit the student to connect great conduct with pleasurable exercises. When the student has obtained the conduct, the student may sum up the conduct to incorporate doing every one of his errands so as to pick up the uplifting feedback. The educator would utilize discipline sparingly to diminish the recurrence of aversive conduct such a removing the computer games. The way that an individual could teach a living being to get an expertise is through noticeable learning. Discernible learning is the perceptions made by the student through the activities of the instructor so as to make an aptitude, or change a conduct. Observational learning is the most usually utilized strategy. It permits the student to become familiar with an ability without remuneration or results. The student learns through watching the instructor and afterward copying the activities of the educator. This is an increasingly basic strategy to show youngster abilities that are found out and strengthened all through their adulthood, for example, social graces. The individual could show a life form how to do an ability through observational learning. The individual would do a demonstration that is seen by the student, and they would have the student copy the activities. For instance, a mother might want to show her kid social graces. She would exhibit legitimate social graces to the youngster. She would then have the kid rehash and mimic her activities. When the kid has gained that information, the mother would consistently strengthen the conduct. The youngster would learn social graces absent a lot of requirement for discipline or reinforcers. The way that observational learning works, some may ordered observational learning as operant molding since it as a rule includes evolving practices. The individual could utilize these three molding strategies related to one another, in blend with them, or independently. In any case, these methods, traditional molding, operant molding, and observational leanring, are the successful method to tell a living being the best way to learn abilities.

Ancestry and Family Tree of President Ronald Reagan

Parentage and Family Tree of President Ronald Reagan A very much cherished Hollywood on-screen character, Ronald Reagan showed up in more than 50 element films. In 1966, he was chosen as legislative head of California and, in 1980, he turned into the 40th leader of the United States (1981-1989) Conceived in 1911 in Tampico, Illinois, Ronald Wilson Reagan was the second child of John (Jack) Reagan and Nelle Wilson. He was the incredible grandson, on his dads side, of Irish migrants who came to America through Canada during the 1940s. His mom was of Scottish and English family. Find out about his other relatives utilizing this family tree, which is introduced by age. Original 1. Ronald Wilson REAGAN was conceived on 6 Feb 1911 in Tampico, Illinois and passed on 5 Jun 2004. He is covered on the grounds of the Ronald W. Reagan Presidential Library, Simi Valley, Ventura Co., CA. In 1950, Ronald Reagan wedded entertainer Sarah Jane Mayfield (stage name Jane Wyman). They had two young ladies Maureen Elizabeth conceived in 1941 and Christine who passed on during childbirth in 1947. In 1945 they received a child kid named Michael. Jane and Ronald separated in 1948 and, on 4 March 1952 Ronald Reagan wedded another entertainer, Nancy Davis (brought into the world 6 July 1921). Named Anne Francis Robbins during childbirth, Nancy took the family name Davis when her stepfather, Dr. Faithful Davis, received her in 1935. Nancy and Ronald had two youngsters Patricia Ann (Patti) in 1952 and Ronald Prescott in 1958. Second Generation (Parents) 2. John Edward (Jack) REAGAN was conceived on 13 Jul 1883 in Fulton, Whiteside Co., IL. He kicked the bucket on 18 May 1941 in Santa Monica, Los Angeles Co., CA. 3. Nelle Clyde WILSON was conceived on 24 Jul 1883 in Fulton, Whiteside Co., IL. She passed on 25 Jul 1962 in Santa Monica, Los Angeles Co., CA. John Edward (Jack) REAGAN and Nelle Clyde WILSON were hitched on 8 Nov 1904 in Fulton, Whiteside Co., IL and had the accompanying kids: I. John Neil REAGAN was conceived on 16 Sep 1909 in Tampico, Illinois.1 ii. Ronald Wilson REAGAN Third Generation (Grandparents) 4. John Michael REAGAN1,2 was conceived on 29 May 1854 in Peckham, Kent, England. He passed on of tuberculosis on 10 Mar 1889 in Fulton, Whiteside Co., IL. 5. Jennie CUSICK1 was brought into the world around 1854 in Dixon, Lee Co., IL. She kicked the bucket of tuberculosis on 19 Nov 1886 in Whiteside Co., IL. John Michael REAGAN and Jennie CUSICK were hitched on 27 Feb 1878 in Fulton, Whiteside Co., IL3 and had the accompanying youngsters: I. Catherine (Katy) REAGAN1 was conceived in Jul 1879 in Fulton, Whiteside Co., IL.1ii. William REAGAN was conceived on 10 Jan 1881 in Fulton, Whiteside Co., IL. He kicked the bucket on 19 Sep 1925 in Dixon, Lee Co., IL.2 iii. John Edward (Jack) REAGANiv. Anna REAGAN was conceived on 14 May 1885 in Fulton, Whiteside Co., IL. 6. Thomas WILSON4,5 was conceived on 28 Apr 1844 in Clyde, Whiteside Co., IL. He passed on 12 Dec 1909 in Whiteside Co., IL. 7. Mary Ann ELSEY4,5 was conceived on 28 Dec 1843 in Epson, Surrey, England. She passed on 6 Oct 1900 in Fulton, Whiteside Co., IL. Thomas WILSON and Mary Ann ELSEY were hitched on 25 Jan 1866 in Morrison, Whiteside Co., IL and had the accompanying youngsters: I. Emily WILSON4,5 was conceived on 12 Nov 1867 in Clyde, Whiteside Co., Illinois.ii. John WILSON4,5 was conceived on 9 Oct 1869 in Clyde, Whiteside Co., Illinois. He kicked the bucket on 21 Jun 1942 in Clinton, Iowa.iii. Jennie WILSON5 was conceived on 16 Jun 1872 in Illinois. She kicked the bucket on 8 Mar 1920.iv. Alexander Thomas WILSON5 was conceived on 30 Mar 1874 in Illinois. He kicked the bucket on 26 Apr 1962.v. George O. WILSON5 was conceived on 2 Mar 1876 in Illinois. He passed on 3 Apr 1951 in Clinton, Iowa.vi. Mary Lavinia WILSON5 was conceived on 6 Apr 1879 in Illinois. She kicked the bucket on 6 Sep 1951 in Fulton, Whiteside Co., IL.3 vii. Nelle Clyde WILSON

Gaining Roots Globally In Both Government Finance Essay - Free Essay Example

ABSTRACT: Project finance is increasingly gaining roots globally in both government (public) sector and the private sector. Projects that are project financed are mostly large infrastructure like high-speed rail, electricity generation plants, wind turbine, telecommunication tower and multifaceted infrastructure undertakings. More often than not, majority of project- financed projects are influenced by government. This brings to the fore, financing of a project with a flexible cash flow which is usually the concern of the lender (debt provider) who accepts future revenues from a project as a guarantee on a loan. Project finance has an attribute of non-recourse, that notwithstanding, it allow lenders to always look for guarantees mostly from sponsors for effective cash flow that can make up for the debt and also bear risk that they can mitigate. Hence, the need for security as a mechanism of defence for the lender since there is the need for diverse provisions for the cash flow assigned to them, thereby guaranteeing payment of the debt. The paper hereby, looks at the different elements of securitisation; the lenders risks and how elements of security are employed in their mitigation WORD COUNT: In accordance with instructions provided for each course. Footnotes must be included in the word count. PRESENTED TO: MR STEPHEN DOW CONTRACT CONCERNING PLAGIARISM I, the undersigned, have read the Code of Practice regarding plagiarism contained in the Students Introductory Handbook. I realise that this Code governs the way in which the Centre for Energy, Petroleum and Mineral Law and Policy regards and treats the issue of plagiarism. I have understood the Code and in particular I am aware of the consequences, which may follow if I breach that code. I also authorise the centre to scan the e-copy of my research paper through the Plagiarism Detection Software to detect plagiarism SIGNED: ____________________________ Date: Day Month Year TABLE OF CONTENTS INTRODUCTION Project finance is increasingly gaining roots globally in both government (public) sector and the private sector. Projects that are projects financed are mostly large infrastructure like high-speed rail, electricity generation plants, wind turbines, telecommunication towers and multifaceted infrastructure undertakings with majority of them influenced by government. This brings to the fore, financing of a project with a flexible cash flow which is usually the concern of the lender (debt provider) who accepts future revenue from a project as a guarantee on a loan. Project finance has an attribute of non-recourse, that notwithstanding, lenders usually look for guarantees mostly from sponsors (companies, partnerships or joint ventures or the host government represented by a government agency or state owned entity) for effective cash flow that can make up for the debt and also bear risk that they can mitigate. Lenders who provide the principal are very crucial and would not come on board unless there is mitigation and allocation of risks and security to ensure the debt recovery. Although the security sought for will not escalate the proficiency of the project and does not guarantee certainty of repayment, however, it ensures that if something goes wrong, lenders do not lose everything. Lenders mostly take some amount of credit risk on the project, thus to determine the practicality of the project. They consider that it is technically feasible and that its commercial forecasts so they can evaluate the available risks and design a sponsoring structure that will allocate those risks. By this, lenders give room for due diligence. Chapter one ponders on the concept of project finance and the concept of security involved in project finance. Chapter two highlights the elements of securitisation in project finance which is not too extensive an option available for debt recovery. Chapter three briefly assesses the various risks which a lender may be exposed to and attempts t o identify how security measures are opted to mitigate such risks. Chapter 4 concludes the paper by echoing some salient points about security in project finance. An analytical approach will be employed in the deliberation of these issues. The concept of Project Finance The concept of project finance cannot be discussed without an attempt to define project finance and its basic principles. From it unset, project finance is a method of financing where the lender accepts future revenues from a project as a guarantee on a loan. Contrary to this is the traditional method of financing whereby the borrower assigns to the lender a physical or monetary unit (collateral) in the case of default. Practically, most projects are financed by a combination of both traditional methods as well as by guarantee-backed loans. By implication, project finance is suggestive by its name in that, it refers to raising capital by any means to pay for any project. This however refers to a narrow but increasingly more prevailing method of financing capital- and risk-intensive projects across a broad array of industries. Many learned scholars have attempted defining project finance with some of these definitions worth citing. A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of that economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan.[1] From the above definition, it can be deduced that, the definition is informative since project finance is project specific meaning that, it focuses on the financing of a specific project which can mean anything subject to what the parties define it to be. Moreover, a critical consideration to the word initially in the definition above reveals that, security as collateral is only subordinate to the debt repayment via the cash flow of the project. When project finance becomes non-recourse to the sponsor, it brings to bear a limited impact on the solvency of the sponsor which aims at arranging to borrow for a project which will profit the sponsor at large.[2] However, oil projects that involves major multinational companies which are financed majorly from the balance sheet of the sponsor normally allows the dispersal of the risk involved from the sponsor to other parties.[3] The deregulation of worldwide utilities and the privatisation of public sector capital investment have giving rise to the recent project financed projects in both developed countries and developing countries. For instance, in 2010 India became the utmost dynamic project-finance market with over $52 billion worth of deals, coming from 131 loans. Spain was second with 67 loans for a total of $174 billion and Australia in the third place with 32 loans worth $14.6 billion.[4]This is to underscore that public sector infrastructure that can take the form of natural resources projects like (gas, mining and oil), independent power projects (IPPs), mainly for power generation in the electricity sector like Sunon Asogli power plant of Ghana, public infrastructure (transport, roads, public buildings, etc.) for example Ghanas millennium challenge account (MCA) will be on the increase to benefit the people. Categorically, divergent financing mechanisms could be put in place for different project in project finance; conversely, basic features applicable to them all have been identified: There is in place a special-purpose vehicle SPV or Project Company whose only business is borrowing for a particular project to achieve the limited goals of construction and operation of the project. Project finance is normally used in financing new projects unlike existing projects, however, there could be financing loans for existing projects. Project finance is normally non-recourse to the sponsor and no guarantee is needed for the project debt. Lenders always look out for the cash flow that will be generated from the project for the recovery of the loan rather than the asset of the project. In terms of a default on repayment, the SPV becomes the main security available to the lender for the recovery of the loan due to the ownership right to resource, awarding of contracts and licences of the SPV.[5] From the above features, point (V) can be said to be the nub of this paper which is to state that in project finance, lenders only look out for the assets of the project for securitisation of the loan and to have full control over the asset which is being financed. The primary objective of security in project finance is to safeguard the debt which is usually the larger share of the financing structure but which doesnt yield higher returns if the project has an upside.[6] Security over the project is widely ranged and differs from project to project. A commentators view is that the lenders security is in four stages; Control over the cash flow of the project. The ability of the lender to step-in to project administration under direct agreements. Guaranteeing and assignment of SPVs assets and major agreements and contracts. Security over company shares. The Concept of Non-Recourse There are two basic types of recourse project financing: limited recourse project financing and nonrecourse project financing. Limited recourse gives the lenders some recourse to the sponsor in the form of the pre-completion guarantees or/and other assurances of some form of support for the project. Limited recourse project financing is typical for emerging market projects and projects posing significant risks. Nonrecourse project financing is an arrangement under which lenders do not have any direct recourse to the sponsors. Their security includes various assets of the project company (including the assets being financed) and relies on the operating cash flow generated by the project company. There is the possibility of a default on the payment of a term of a loan. Normally when it does happen, lenders fall back on the borrowers assets for the recovery of the advanced loan. Ideally, in project finance the loan is normally non-recourse to the sponsors; thus the loan is repaid only f rom the cash flow generated by the project with the sponsors providing no guarantees to the lenders. The concept of non-recourse project financing thus implies that the sponsors assets for the debt recovery is of no recourse to the project company, however, lenders might have recourse to the projects assets. Thus, lenders will look out for the credibility of sponsors in terms of security of the capital involved by recouping the debt as projected regardless of the completion of the project. This is opposed to traditional lender/borrower relationship like corporate financing whereby lenders normally secure the repayment of loan by demanding on some form of collateral or security which most often might not be necessarily the same as the value of the loan. This brings to the fore, the notion of project finance relying on the viability of a project rather than the credit value of the sponsor which in theory gives the project sponsor no direct legal obligations to reimburse the project debt and pay for interest. 2: ELEMENTS OF SECURITISATION IN PROJECT FINANCE The main aim of security is to safeguard the debt which most scholars believe its role in project finance is defensive and do not offer the lenders the right to actualise on the assets as they would in conventional secured finance. Lenders are mostly fascinated about the operators demonstrated aptitude in project finance since the repayment of the loan rely heavily on the achievement of the operator rather than the value of the project assets.[7] Lenders in most cases take aggressive security over assets they have financed just to ensure that they are able to sell off the asset in question on an execution of its security. This notwithstanding is not the ultimate goal for lenders in taking the security; instead, the aim of lenders to achieve their security goal is in two stances. Firstly, they look out for security with an eye on a complete security package that gears towards a defensive mechanism which aims at preventing other creditors taking security over the assets they have financed and also to avert other creditors who might try to rely on those assets. Secondly, the other stance for which lenders would want to take up security is for the sole aim of controlling the future of the project should a default occur so they can complete the project thereby operating it in order to generate the cash flow needed for the repayment of the loan. The lenders ability to achieve this aim is however dependant on the jurisdiction in whi ch the principal project assets are located. A table that illustrates the elements of a project finance security package is shown hereunder: Table1. Typical Elements of a Security Package[8] PROJECT ASSETS AND CASH FLOWS SPONSORS OTHER SOURCES Mortgage on project assets Pre completion guarantee Entitlement payments related to government concessions( for example the assignment of compensation due if concession is terminated early) Offtake agreements to ensure output demand (quantity and price) Project funds agreement; other financial support: subordinated loans in case of shortfall of project cash flows Letter of credit Supply agreements Construction and operation supports: arrange turnkey construction contract, supply key managers, arrange management contract Political risk insurance Assignment of receivables Financial Covenants Pledge of shares Escrow accounts to receive project revenues: onshore and offshore, local and foreign currency Assignment of insurance Payments 2.1 The Escrow Account The escrow account is said to be an account held in the name of the SPV or borrower by a bank with an escrow account agreement between the lender and borrower which gives rise to an immutable instructions from the borrower with a binding effect that all operational revenue or proceeds from the sale of assets of the project will be paid into this account.[9]Lenders tend to use the escrow account as a measure of control over the project revenues and also use the funds accrued for the settlement of the project expenses and also for the repayment of the loan. If a project cash flow is insufficient to settle the payment of the debt, lenders can also call for the setting up of an escrow account so that a trustee can withdraw from the escrow fund to service the debt.[10]A trustee can hold the trust on behalf of all creditors to avoid creating a separate trust for separate creditors and also introduce new creditors by means of a pre-agreed deed of accession.[11]However the escrow account when used to mitigate foreign currency risks helps to fulfil contractual responsibilities.[12] There are some key features of an escrow account that serve as security in project finance. Some of these features have been identified; It allows for the use of hard currency project revenue to pay for hard currency project debt. It is normally held offshore in a jurisdiction (country) where there is low foreign currency exchange convertibility and transfer risk. The escrow account forms part of the lenders security package as the cashflow is the principal concern of lenders. Normally the government of the host country requires approval for the creation and operation of the escrow mechanism.[13] 2.2 Assignment of Project Agreements and Other profits There is yet another measure that works to reinforce the security package which involves the assignment of rights under the key contracts of the project that serves as concretisation of (off-take contract, concession, construction contracts, etc.) security for the lender which is more prevalent under the operational stage of the project.[14]This process which could be called Direct Agreements have the aim of allowing the lender to take the place of the SPV should there be a default in the loan repayment by subjecting the borrowers privileges under the underwritten contract. Project receivables and agreements assignment has also been discoursed to enable creditors regulate project funds should the project encounter any challenge.[15] 3: HOW SECURITY MITIGATES LENDERS RISK 3.1 Lenders Risks Assessment and how they are mitigated by Securitisation Every discreet lender will resort to the method of project risk analysis when presented with a project finance proposal. This will enable the lender to come in terms with the scope, rationale and the objectives of the project at hand to be sure that they are flawless and feasible. In the same vain, the assessments of potential risks are measured on the same scale. Lenders have various reasons why they would want to advance funds for various projects. Some of these reasons include; profiting through attractive lending margins and other fees, the assumption of measured risk, to control credit agreements and the project as a whole in time of difficulties. This next section will discuss the assessment of a lenders risks and the elements of security which can be employed to mitigate them. Political Risks[16] These are inevitable and very much intrinsic in business which affects all stages of various projects right from the very beginning to the very end. This brings to the fore an evaluation difficulty with the utmost of it being expropriation by the government.[17]The tendency of existing political order collapsing, new taxations, exchange transfer restrictions, and nationalisation more often than not, put projects of both borrowers and lenders alike in jeopardy.[18]Not all, political risks such as war, civil unrest, default or failure of government agencies, changes in law and delays by governmental bodies to grant necessary approvals or licences for the project or components thereof can be a major concern to lenders. As if this is not enough, the ability of the host government to expropriate properties in return for relative compensation for the sole aim of public interest is a source of concern to the lender. This risk can hereby be mitigated by insurance against political risks and assurances against expropriation with a guarantee that proper compensation will be payable in that event. This risk can further be mitigated by a requirement of the host government to stand in as full guarantor of all the debt.[19]Lastly, it can be mitigated by participation of partners like the World Bank and multinational organizations (like MIGA, which has a special political insurance service) providing insurance in a traditional sense, in addition to issuing performance bonds that guarantee completion. Completion Risk The lender is faced with this risk when there is the difficulty of completing the project at hand. This goes a long way to affect the full operation capacity of the project as scheduled both on time frame and as budgeted.[20]This can be mitigated by the lenders looking to the sponsor for completion guarantees in order to ensure that they can make up for the cost involved. Environmental Risk Controversies that arise from environmental law as results of environmental pollution emanating from activities of project are inescapable to lenders. In mitigating this risk, there will be the need for the borrower to carry out social and environmental impact assessment plan. A laid down plan to monitor and manage this risks will equally be required. The need for lenders to abide by this management plan is crucial for the loan as non-compliance will be deemed as a default on the term of the loan. Force Majeure risk: Project finance has a high potential for vulnerabilities in that, force nature risks such as earthquakes, floods, strikes, civil disturbances and change of law can interrupt a projects operations and confound its cashflow. A particular force majeure can bring about a default depending on the sternness of the particular accident. It will therefore be prudent if an analysis of force majeure events that could hamper the projects progress be discussed. This can be mitigated by assigning the necessary insurances coverage for any eventuality as well as bring to bear the timely payment of insurances by the insurance companies. Market/Price Risk This type of risk involves fluctuation of price which has an adverse impact on the project revenue as well as the debt settlement. There is the need for the lender to put in place a price projection for long term contract for the sale of the projects product. The projects viability depends on this. To mitigate this risk, there should be in place long-term sales contracts for the product and a market guarantee agreement for the product should also be in place.[21]Mitigations like price hedging and derivatives could also be useful. These are but just a few of a lenders risk and how they are mitigated. 4: Conclusion The objective of the paper was to deliberate on the concept of project finance, its securitisation elements and how the various risks of lenders are mitigated. The paper employed analytical approach which gives it a safe landing on the grounds that; Securitisation is the back bone of project finance since lenders will not advance funds to project without repayment assurances. Security for the debt repayment can be in divergent means in as long as it is deemed fit for a particular project for the security of the debt at hand. Mitigation and securitisation are the only means by which a lender will assume risks. In conclusion, the more prevailing security measures in a particular project mitigate more risks and this is the bedrock on which lenders would lend to a project. BIBIOGRAPHY Primary Sources Judicial Decisions Re Bond Worth [1980] 1 Ch.228 at 248. Books Nevitt, P.K., and Fabozzi, F.J., Project Financing (7th Ed.)(London, UK: Euro money, 2000). Yescombe, E.R., Principles of Project Finance (London, UK: Academic Press, 2002) 5. Vinter, G., Project Finance: A Legal Guide (2nd Ed.) (London, UK: Sweet Maxwell, 1998). Ahmed, P.A., and Fang, X., Project Finance in Developing Countries: IFC Lessons of Experience No.7 (World Bank Publications, 1999). Clifford Chance (Law firm), Project Finance (London, England: IFR Publishing, 1994). Hoffman, S. L. The Law and Business of International Project Finance (The Hague, Netherlands: Kluwer Law International, 1998). Articles Esty, B.C., and Megginson, W.L., Creditor Rights, Enforcement, and Debt Ownership Structure: Evidence From the Global Syndicated Loan Market, Journal of Financial and Quantitative Analysis, Vol. 38, No. 1, (2003) Internet Sources Cadwalader, Wickersham Taft (law firm) Moving towards Hybrid Project Financing at https://www.cadwalader.com/assets/client_friend/110104HybridProjFin.pdf (last visited on 26/12/12). Islamic Development Bank, Risk Management guidelines for project finance, Group Risk Management Department,Muharram,1431/January 2010 (last visited on 20/12/12) https://www.ecosn.org/Portals/0/Workshops/PRM/11-Annex-XI-IDB_Project_Risk_Management Guidelines. Others Dow, S., Presentation for lecture 2 of International Project Finance Module at the CEPMLP, University of Dundee, (2012) Achonwa, J.,what are the elements of security in project finance and how does it limit the lenders exposure to project risks? (Unpublished LLM Dissertation Submitted to the CEPMLP, University of Dundee, 2009). Adesokan, A., Addressing Legal Issues Regarding Lender Protection and the Treatment of Security at the Completion Stage (Unpublished LLM Dissertation Submitted to the CEPMLP, University of Dundee, 2008). Omenuko, L., How can the Risks Associated with the Exploration and Production of Oil and Gas be Mitigated for the Purpose of Securing Finance (Unpublished LLM Dissertation Submitted to the CEPMLP, University of Dundee, 2007). Smith, V., Escrow Accounts in Project Financing Material on VLE, International Project Finance Folder, CEPMLP, University of Dundee (2012).

Advertisement Effectiveness - 992 Words

Introduction: Advertising is a form of communication used to encourage or persuade an audience to continue or take some new action. Most commonly, the desired result is to drive consumer behaviour with respect to a commercial offering, although political amp; ideological advertising is also common. The purpose of advertising may also be to reassure employees or shareholders that a company is viable or successful. Advertising messages are usually paid for by sponsors and viewed via various traditional media; including mass media such as newspapers; magazines; television commercials, radio advertising, outdoor advertising or direct mail or new media such as blogs, website or text messages. Definition:†¦show more content†¦Sources of data: Sources of data are mainly classified in two: Primary data amp; Secondary data. Primary data are those which are collected a fresh and for the first time amp; thus happen to be original in character. The primary data was collected using a structured questionnaire prepared with respect to the objective of the study. Simply primary data refers to the information got directly from the sampled respondents. Secondary data are those which have already been collected by someone else and which have already been passed through the statistical process. The secondary data are based on the documents available in the form of: Books Journals Published papers Internet Data Analysis and Statistical tools: The data collected were analysed and tabulations were made regarding the responses given by the respondents. No statistical tools were used in this project to measure the effectiveness of advertisements. Limitations of the study: 1) Sample size is small as compare to universe. 2) Respondents are biased towards their personal preferences and they might have not answered the questions correctly. 3) Due to simple random sampling there may be large deviation from that of universe. Chapter Scheme: Chapter 1: Introduction, objectives, statement ofShow MoreRelatedEffectiveness Of Print And Television Advertisements Essay1035 Words   |  5 Pagesâ€Å"Effectiveness of Print and Television advertisements, a Comparative study of the same brands on different media vehicles.† - Ayushee Bhatnagar Abstract In the age where technology has made things easy and convenient there are some things that have become complicated but necessary, same are the case with advertising. For the advertising companies, reaching to their target audience has become a complicated task. A significant shiftRead MoreEffectiveness of Advertisement in Telecom Industry7709 Words   |  31 PagesA PROJECT REPORT On A study on Effectiveness Of Advertisement in telecom industry Submitted to:- B.K.School of Business Management, Gujarat University, Ahmadabad Guided by:- Dr. Prateek Kanchan Submitted By: Sachin chokhawala (1912) ACKNOWLEDGEMENT The satiation and euphonies that accompany the success completion of a task would be incomplete without a mention of people who made it possible. So, with immense gratitude, we acknowledge all those, whose guidanceRead MoreMarketing Effectiveness Of Quality Of The Brands And The Advertisements869 Words   |  4 PagesThe customer’s satisfaction is based on the marketing effectiveness of quality of the brands and the advertisements. This measurement is calculated as [average brand judgment/100 + average ad judgment/100]/2. The scoring ranges from 0 to 1.0 in which a good score will be rated more than 0.8.Our company’s current marketing effectiveness rating is: [52/100 + 61/100]/2 = 0.57. This is broken down to the following averages: target segments best brand judgments = (54 + 50)/2 = 52; first segment highestRead MoreThe Effectiveness of Dr Pepper Advertisements Essay1201 Words   |  5 PagesThe Effectiveness of Dr Pepper Advertisements Advertising appears in every part of our lives. What ever we see or do in a day involves advertisement. For example, buying a drink, waiting at the bus stop, or walking past a shop window. All have some sort of advertisements displayed. Advertising is a very productive and successful business. Advertising drives the majority of products we buy, and no matter what we do, we cannot escape it. We see advertising all over theRead MoreGiorgio Armanis Fragrance for Men: Effectiveness of an Advertisement1242 Words   |  5 PagesAbstract This paper will examine the effectiveness of an advertisement for Giorgio Armani’s fragrance for men found in Men’s Health magazine. Focusing on the specifics of the ad, analysis will be done to depict the ins and outs of how the advertisement is conveying its message to the reader. To understand how marketers exploit their products to the consumers, the dynamics of an ad can be studied. Assessing the advertisement on a few important characteristics such as how the product is differentiatedRead MoreEssay about The Effectiveness of Sex Appeal in Advertisement661 Words   |  3 PagesThe Effectiveness of Sex Appeal in Advertisement Sex is everywhere. Its in every magazine, on every television station, and in every movie. Sex appears in advertisements for everything from shoes to food to computers. It is understandable why advertisers use sex appeal since it sets their ads apart from the countless others. Ads with sex can be more memorable, but sometimes too much sex overpowers the ad, drawing attention away from the brand. Overdone sex appeal can offend the targetRead MoreEssay about The Effectiveness of the Takamine Guitar Advertisement548 Words   |  3 PagesThe Effectiveness of the Takamine Guitar Advertisement The Takamine guitar advert can be viewed as an effective piece of media in an array of different ways. The ways used play on a very unconventional style, which is not often used for a musical instrument. For example most guitar advertisements would use such images as a lead guitarist of a band standing tall whilst making his guitar scream out whilst he is backed by a huge amp or some such and the other. TheRead MoreThe Lack Of Promotion For College Students Essay1275 Words   |  6 Pagesgroup of potential consumers in Athens, would help AFM’s development in several aspects including customer base, reputation, and profitability. Third Criteria: Advertising Effectiveness Cost and convenience are indeed important to comparison and evaluation different methods used for AFM’s advertisements to student. But effectiveness (the effect measured or expected from different advertising methods used) can also be crucial to decision making on advertising strategies of AFM. Based on the potentialRead MoreEffectiveness of Body Image Portrayal in Different Advertisements 804 Words   |  3 PagesWhat many women think when they see a Victoria’s Secret advertisement on TV is to put the chocolate down and hit the gym. Why is this? To be beautiful and fit is a prerequisite to becoming a model for their various lingerie campaigns. People all around the world tune in to watch the annual Victoria’s Secret Fashion Show, and see their â€Å"Angels† strut down the walkway in lingerie. In today’s society, being thin is considered attractive and acceptable—what the ideal woman should look like. While noRead MoreHumor and Persuasion13 18 Words   |  6 Pagesenables the audience to feel compelled to match their views with the speaker’s own views. Humor is said, on more than one occasion, to be effective in persuasion but with the effectiveness also comes the associated risks. In the Journal of General Psychology, a study was done by Jim Lyttle, where he researched the effectiveness of humor and persuasion. He used business ethics training while trying to determine if humor plays a role and how much in persuasion. Cartoon images as well as wisecracks

China s Struggle With Air Pollution - 901 Words

On October 1st, 1949, the People’s Republic of China officially became a country and a player on the world stage. Since then, China has entered a new Communist era of stability, with the Reform and Opening Up policies of 1978 bringing in China’s phenomenal economic growth (Tisdell, 2008). However, with these advances in industry come a downside: air pollution. Since the early 1980s, air pollution levels have been climbing to dangerous levels. However, in 2013, the scales tipped for the worst. This certainly was not the first year that air contamination reared its ugly face, blackening Chinese cities, closing roadways and sending children to the hospital. Although difficulty breathing and poor air conditions had been a fact of life for most people in China, awareness of the problem peaked that year, causing 2013 to be remembered as the year that China’s struggle with air pollution went mainstream. Shortly after the start of the year, Beijing and surrounding regions were hit by pollution of unimaginable levels. At one point, in the middle of January, the Air Quality Index level in Beijing peaked as high as 993, far beyond levels health officials deem extremely dangerous. For comparison, on the same day in Miami, the AQI was 11 (Xinhua, 2013). As this air pollution issue continues to develop, it is vital that the Chinese put an end to this air contamination because of the health issues, economic issues, and international relation issues. China’s pollution peaking atShow MoreRelatedChina s Massive Pollution Problem918 Words   |  4 Pagesâ€Å"Air pollution is defined as any substances absorb into atmosphere, and these substances harm the living things and environment† (Dictionary). As dictionary mentioned, during development of the Beijing for 10 years, air has been contaminated by emission of gases and smog from industrial factories whose number has been increasing. 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Change Program and Map The Problems †MyAssignmenthelp.com

Question: Discuss about the Change Program and Map The Problems. Answer: Conduct the diagnoses of change that led King Edgar Hospital NHS Trust to launch an organizational change program and map the problems. The industrial revolution have led to the advancement of the world and has greatly contributed to the ongoing growth as well as development. As a result of the unique 4th Industrial Revolution, the government had mounted massive pressure for Hospitals to improve their services while reducing the duplication. This forced the three Hospitals to merge and subsequently formed the King Edgar Hospitals Trust. The Trust received massive negative media coverage as a result of its waiting list challenges alongside thirty pound million financial deficit. The Trusts credibility plunged deeper and this occasioned the need for change management. The identified problems facing the Trust then included surged trolley waits for the patients in both AE (Accident and Emergency) department, bottlenecks in medical admission ward, higher rates of admission, patient put on wrong wards, surged durations of stays, discharge delays, poor relationships with social services as well as surged patient complaints. The King Edgar Hospital NHS Trust was never left behind due to these change especially the 4th industrial revolution that has been increasingly contributing as well as challenging the norm. The revolution is never merely about smart and associated machines alongside ecosystem, it is instead a fusion of both and their respective interactions crossways the digital, biological as well as physical domains which make it fundamentally distinct from the predecessors. This implies that industries including the King Edgar Hospital NHS Trust must find novel forms of operating their businesses. This has subsequently led to the Hospital need for a major transformational change crossways the industry. This is because the Healthcare Industry is amongst the most critical to the 4th Revolution and this challenged with complexities of propelling key transformational change. King Edgar Hospital was as a result marred with financial crises, hurdles meeting the government waiting list targets as well as negative media coverage. The hospital was thus propelled to launch an organizational change program against this backdrop of a genuine crisis. It adopted the end-to-end chain which meant from the admission to discharge being the focal point earmarked for change. The change was thus meant to be the novel norm as the healthcare sector copes with the effects of the 4th industrial revolution. After deliberations on the issues identified above, it was apparent that many problems were related to inefficient patient processing that bared the capability of the Trust to decrease their waiting list. Provided the governing scrutiny of long waiting list, alongside resulting autonomy repercussions for the Trust, sorting out such capacity as well as throughout challenges became a top notch priority. The Trust realized that someone had to drive and accept accountability of the Trust to enhance the performance of the admission-to-discharge chain besides the turnaround strategy. The CEO of the Trust then asked the executive director of nursing (Tracey Burn) to take lead. Burns was aware of each problem. Albeit her roles and responsibilities were wholly managerial, she was never a stranger to hands-on-nursing, as she knew that the Trust beds were frequently blocked by patients that were medically stable yet had nowhere else to leave for like nursing home. She thus welcomed the opportun ity for two key reason. One reason was the professional caregiver gut response to an unacceptable condition as she thrived to place herself in the position of the patient having spent up twelve hours on the trolley in the AE department when one has had nothing to eat or even drink and one has likely got the sore bottom due to one being laid on the tiny and little thin mattress without dignity. For her, it was all about saying that the Trust could make a change to that menace then by merely moving certain of systems. Her second reason was that past patient viewpoint, Tracey saw the opportunity to expand her role of nurses in the environment marred with medical profession. She therefore wished to attempt to boost the voice of nursing and illustrate that nurses could contribute immensely to the agenda. Thus empowering nurses could assist recruit as well as retain additional nurses in what had turned out to be a very tight labor market. With the extra potential to relieve the waiting li st, the change project was a high stakes undertaking on each angle. She thus saw the opportunity to introduce a systemic approach to the discharge of patients which would start at the pre-admission phase and hence nurtured plans to usher in nurse-led discharges that imply the nurse assuming the responsibility from specialist physicians to make the ultimate decision for patient discharge. However, the major problem is that Trust never benefited from the governments option of pouring in additional resources to meet its targets as it was even already cash-trap. The Trusts option was to only work to meet its targets as best it was possible with its own existing resources. This goal thereby gave rise to expedient measures which generated hurdles downstream as they patient had to wait almost 12 hours leading increased pressure being mounted on medical admission ward to assign the patients to a ward-to evade violation of 12-hour ruling. This implied that the patient could be dispatched to wherever there was a free bed. Characteristically, such wrong assignments surged the duration of stay among patients since they would never be seen any relevant specialist, who undertook their respective rounds on other wards. The target pressures also distorted clinical priorities as patient were sent home early and had to be rushed back to the hospital for re-admissions. Aware of such a risk, Tracey knew the Trust would have to increasingly monitor their re-admission patterns very closely. There were various solutions implemented by the Trust in answer to the discharge problems. Discuss the main solutions. A golden bullets performance objectives were introduced by the Chief Executive in 2003. It entailed an energetic investment in the improvement as well as overhauling the discharge performance of the Trust. Tracey secured a pledge that where nursing took responsibility for discharge planning, matrons would be relieved of their onerous bedmanagement duties that would be then taken up by general management. Supported by her firm mandate from the top, Tracey organized the workshop on the improvement of process of discharge inviting the whole body of matrons each being in charge of a cohort of wards and 20 out of 22 attended. A reduced duties became effective from July. The Hospital engaged in effective discharge planning. They undertook this initiative and it benefited the Hospital greatly. It was successful because the lead matron had in past been the link between the hospital and matron for matters relating to discharge. Helen build on her experience and within few weeks following her first matrons workshop, she was already producing a report that clearly highlighted the scope of the initiative for ward sisters as well as nurses (Hayes 2014). Her report emphasized that it remained a key preference for Trust and that discharge planning began from point a patient was admitted. Several preliminary measures that had been undertaken already were documented in the report. The report further encouraged the ward staff to make better use of discharge lounge, while matrons were given 30-day reports about the utilization of lounge by various ward areas. Hellen further created a cartoon posters marred with golden bullets that clearly showed how discharge pla nning fit into the overal priorities of the Trust. Hellen shared such posters with all ward sisters that reported to Hellen and asked them to display posters to enable the staff to become familiar with their contents. Even the sisters that never went to Hellen contacted her for them and under mere two weeks the posters were displayed on each ward in Hospital. Hellen and newly appointed Discharge Manager were acknowledging the first full-day workshop for the promotion of ownership of discharge planning to make sure that all the staff sisters understood their respective pivotal roles in the process. These initiatives were mostly focused on working smarter than harder. The workshops were also opened to medics, therapist and social thereby raising their awareness of salient issues as a joint problem. Using one of the models of change discussed in class, explain in detail the change process that took place at the hospital led by the Director of Nursing and her team. The Lewinschange management model will be used in explaining the change process which occurred at the hospital led by Director of Nursing (Tracey Burns). This model views a change a familiar thread which runs via all businesses irrespective of size, age or industry. The world is changing rapidly and firms must change even more rapid as well. Organizations which handle change well thrive, whereas those which do not struggle to survive. This model views change as a process with separate stages and hence helps prepare one for what is coming and making a plan to manage a transition as Burns did in this case (Doppelt 2017). This model begins a successful change process by understanding why the change has to take place as Burns took her time to understand this. As put by Lewin assert it motivation for change has to be generated before change can take place One has to be assisted to re-examine various cherished assumptions regarding oneself as well as ones relations to other people. This is referred to as unfreezing phase from where the change starts. According to Lewins Unfreeze is the first phase of change that entails organization being prepared to accept that the change is essential as we saw Burns doing by explaining the purpose of the change and why it was needed in her various meetings with matrons and we saw the matrons accepting when she explained the cuts on roles. Burns used this phase as required by Lewin and developed a compelling message that indicated why the prevailing way of doing things were bad and could not continue (Goetsch and Davis 2014). The second phase is to change itself. Once the uncertainty has been created in the unfreeze stage, change stage is the point at which individuals start to resolve their uncertainty as well as look for novel ways of doing thigs. We saw Burns relieving the matrons their duties and making the nurse-led discharge as the change in the organization. The matron even started to believe her and accepted to act in ways t hat supported her new direction as we saw the matrons accepting to take part in the initiatives. Burns also allowed people enough time to transition as required by this model and this is why she was ready to wait and bring everyone on board. She even explained to them the benefits they will have thus accepting the change. The last stage is the refreeze where change is already taking shape and people have embraced the new ways of working, Burns was ready to refreeze. What lessons and pitfalls are highlighted by the approach to change management at King Edgar Hospital NHS Trust? How would you do things differently? Discuss. The lessons learned from this approach is that change is possible so long as there as a good will and a person who willingly agrees to take the lead. As we saw here, Burns was ready and had a willing heart and put herself into the position of patients to help them solve the problems they were facing. Also we see that even despite have no external resources Burns was able to bring people together and worked as team to realized great achievement (Cummings, Bridgman and Brown 2016). We saw starting very well by first telling people why there was a need for the change and explained in details her plans and got immense support from almost everyone despite few resistance. Thus we learn from that one needs to be objective and have self-efficacy that something can at least be done to change the situations as Burns did in this case. Delegation of duty and giving full authority is also a lesson learned as we saw both Green and Burns working very well after they had assumed their duties. The pi tfalls that I have acknowledged is that a leader should not be annoyed as we sometimes saw Burns when some people were opposed to her initiatives. There is always a need to understand everyone and bring them on board (Cameron. and Green 2015). If I were in Burns position, I would always appreciate my critiques and take their negative views as opportunities and use them to even make the change look more appealing. References Cameron, E. and Green, M., 2015. Making sense of change management: A complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers. Cummings, S., Bridgman, T. and Brown, K.G., 2016. Unfreezing change as three steps: Rethinking Kurt Lewins legacy for change management. human relations, 69(1), pp.33-60. Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge. Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper Saddle River, NJ: pearson. Hayes, J., 2014. The theory and practice of change management. Palgrave Macmillan. Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), pp.291-298.