Socialist Market Economy of China Shift toward Capitalism

Presentation China has continually experienced high development and advancement rate that is identical to 9.70%. The development rate emerged since the financial 1970 when China actuated to expose accentuation on the entryway strategies and national reforms.Advertising We will compose a custom exploration paper test on Socialist Market Economy of China Shift toward Capitalism explicitly for you for just $16.05 $11/page Learn More truth be told, this development rate isn't an aftereffect from the Chinese severe adherence to the communist standards. In any case, the Chinese conceivable future comportment and economy support will result from the way that the state has surrendered the utilization of Leninism norms. The situation is reflected in the movement acknowledged in privatization of state claimed companies and the advancement of segregated firms. Along these lines, China is at the crossroads where it is barely viewed as Marxist country. Then again, China gives off an impression of being in the essential period of Marxism as officially alluded to by the Chinese government. The economy is really coming closer to the crude phases of private enterprise as the production of both bourgeoisie and working class occurred at a similar period. Thusly, there is no uncertainty that a propelled foundation of private enterprise is the point of China as opposed to a develop socialist stage1. The Chinese government monetary advancement benchmark is planned dependent on the in general and decently prosperous society. The technique is a plan for amending the disparities in the midst of the oppressed and the extravagant through salary redistribution. In addition, the plan presumes the standard of law and popular government as opposed to the standard of men and absolutism separated from assuming the private possession and commercial center economy. By and large, China may dive into the ploy of buddy free enterprise if the administration ignores building such associations. The Ch inese alliance with different states will be a reality in the event that China moves to a populist political framework from the oppression of one gathering, the Leninist Party.Advertising Looking for research paper on business financial aspects? We should check whether we can support you! Get your first paper with 15% OFF Learn More Indeed, it is determined that China will persistently accomplish higher development rates than other created countries because of the advantages it abuses by grasping free enterprise. Regarding GDP, China will most likely replace the United States of America as the main worldwide financial impact before the FY 2050. It will be an extraordinary accomplishment for China remembering the versatile likelihood of future increment in Yuan esteem against major coinages2. This examination paper looks at viewpoints that could make China to be either effective or not later on as the nation shifts from communism towards free enterprise. Why and why not China will be prosperous later on The economy of China developed rapidly from the financial 1980s coming about into a standard yearly genuine Gross Domestic Product development pace of almost 10.0%. Truth be told, the United States is at present the biggest world economy however it could be outperformed continuously greatest worldwide economy of China by the budgetary year 2015 as far as the PPP (buying power equality). In spite of these momentous accomplishments, in the ongoing years, China has amassed various biological, social, and monetary logical inconsistencies that make the cutting edge free enterprise model embraced by this country to be far-fetched possible in the ensuing 10 to 15 years or past the medium term. Moreover, to achieve the planned money related improvement rate, the republic of China powerfully offers almost all wares to the abroad souks, grapples on the strangely raised paces of undertakings, and adventures a pool of its practical workforce. In this way, while most world e ntrepreneur economies persistently battle to conquer financial downturn and stagnations, trades from China are probably going to acknowledge phenomenal yet moderate development rates in the years to come.Advertising We will compose a custom exploration paper test on Socialist Market Economy of China Shift toward Capitalism explicitly for you for just $16.05 $11/page Learn More On the other hand, from the yearly development household item revealed by China, 50.0% collects from the development in ventures. The bit of chief continues dive because of the overflow stores and this may sabotage the fiscal plan of China given that different sorts of sum late including safe home loans were used in financing the vast majority of the Chinese undertakings. Maybe, the most supportable venture levels could be around 30.0% of the absolute total national output. All things considered, all together for the speculations to be brought down by almost 20.0% of the genuine GDP, there must be an expansion in the residential consumption by an equal sum. Numerous families depend on compensations as the significant pay gracefully. Thusly, for the household consumption to increment by that sum (20.0%), almost 15.0%-20.0% of the national salary should be reallocated to the workforce from the capitalists3. From this, it is clear that the republic of China could experience the capitalists’ bunch solid opposition. Among the social orders of China, different aggregate backers just as researchers have reliably contended that the republic of China ought to redesign the market-established money related rebuilding. For example, the control of the common assembling modes must be renewed while the benefits and incomes should be reallocated to the oppressed from the wealthy with the goal that aggregate lastingness could be improved. The ‘new left’ alludes to such activists and scholars.Advertising Searching for research paper on business financial matters? How about we check whether we can support you! Get your first paper with 15% OFF Find out More The vast majority of these gatherings named ‘the Maoists’ offer accommodating recognition with respect to the Marxist history of the Chinese Maoist. The Maoist cultural establishment in the year 2000 was limited to the older national part representatives that were constrained to endure during the 1990s privatization. The mounting social and financial disparities in the previous years show that the Maoist got support from the new average workers and urban white collar class stemming in China4. Bo Xilai attempted to direct the collective rebuilding system and this was somewhat bolstered by the Maoism mounting pressure. In reality, Bo Xilai focused on the advancement of the private and state claimed endeavors simultaneous turns of events, expanded the degree of open lodging ventures, and destroyed the neighborhood capitalists’ linkages with composed violations as opposed to empowering the by and large privatization grasped by generally Chinese. In this manner, there is a lot of political hugeness joined to current Bo Xilai’s cleanse. The cleanse suggests that the Marxist party was devoted towards pushing on with the freed souk-situated financial rebuilding without the basic cultural turns of events. In the short run, the way could be valuable to the Chinese business people. Be that as it may, the course could obviously step up the various logical inconsistencies looked by China and most likely set up a domain that empowers the general cultural upheaval in the sprouting future. Past encounters from Poland, South Korea, and Brazil recommend that when there is an addition of over 70.0% of the whole workforce working in the nation’s non-rural segment, at that point the lower class might appear as the most persuasive social and political power. Henceforth, these classes will interest for the political majority rules system, social government assistance, just as higher pay rates. From the current insights, the non-agrarian representativ es found in China presently make up about 60.0% of the whole workforce while the yearly development rate share is around 1.0%. At the point when it proceeds at the current rate, at that point the workforce partakes in the non-agrarian segment may outperform the conclusive 70.0% limit by the money related year 2020. In the event that the current industrialists frameworks grasped by China become ineffective in pleasing the requests put by China workforces by 2020, the likelihood of political and monetary emergency could be possible5. The advancement of the Chinese private enterprise happened to the detriment of tremendous natural corruption. Actually, in light of report documented by the living planet, the ecological track in China appears to be over multiple times the bio-limit possessed by China. This suggests, contrasted with other industrialist states, China has the vast majority of the all inclusive polluted city while almost 40.0% of the terrains inside the Chinese regions are a t present corrupted. Additionally, the Water Resources Group announced that China was in the skirt of confronting water shortages adding up to 25.0% of the evaluated water necessities in China by monetary 2030. Along these lines, inside the resulting two decades or even multi decade, the natural, social, just as the monetary disasters would most likely converge in China making the current entrepreneur model breakdown. The way wherein the state will settle such calamities will monstrously impact the entire world, not unimportant affecting the eventual fate of China as a state6. Chinese move to private enterprise from communism China is pushing forward with free enterprise while it has briefly maintained its spread in communism. It is ensuing to the proposed endeavors towards modernization that China presented the open-entryway strategies and changes during the Third Plenary Conference, which happened in the monetary 1978. The real factors in an economy have drifted dynamically outsid e the bona fide belief systems of communism. Further, the isolated companies have assumed the main job in economy in inclination to the state claimed ventures to encourage future accomplishment in China. New clarifications have been designed to vindicate a lone gathering rule of the Communist Party so as to coordinate the circumstances of monetary ep

Earth Day Origins

Earth Day Origins Earth Day is praised every year by a huge number of individuals around the world, however how did Earth Day start? When was the main Earth Day? This is a trickier inquiry than you may might suspect. There are really two authority Earth Day festivities consistently, and both got their beginning in the spring of 1970. The First Widespread Earth Day Celebration The Earth Day frequently celebrated in the United States-and in numerous different nations around the globe initially occurred on April 22, 1970. It was an across the country protest about nature, cooked up by U.S. Representative Gaylord Nelson. A Democrat from Wisconsin, Senator Nelson had been instrumental before in presenting protection in John F. Kennedys presidency. Gaylord Nelsons Earth Day was displayed on the counter war sit-in shows that Vietnam war dissenters had utilized effectively to instruct individuals about their issues. On the principal Earth Day, in excess of 20 million individuals turned out at a huge number of schools, colleges and networks the whole way across America for an ecological sit-in day, which started a worldwide natural stiring. The greater part a billion people in 175 nations presently observe Earth Day on April 22. The April 22 date was picked for its fit inside the American school schedule, before end-of-semester tests however when the climate is probably going to be generally wonderful across the country. Scheme scholars relish the way that April 22 is likewise the birthday of Vladimir Lenin, finding in that decision more than the insignificant fortuitous event that it is. A Second Claim to First Earth Day However, it might shock you to discover that April 22, 1970 was not the primary Earth Day. A month sooner, San Francisco Mayor Joseph Alioto had given the first-since forever Earth Day announcement on March 21, 1970. City hall leader Aliotos activity was roused by John McConnell, a San Francisco distributer and harmony extremist, who a year sooner had gone to the 1969 UNESCO Conference on the Environment where he proposed a worldwide occasion concentrated on ecological stewardship and conservation. McConnell recommended that Earth Day harmonize with the March equinox-the primary day of spring in the northern half of the globe, March 20 or 21 relying upon the year. It is a date loaded up with all the imagery related with spring, including expectation and restoration. That is, until one recollects that south of the equator that date implies the finish of summer and the start of fall. About a year later, on February 26, 1971, at that point UN Secretary General U Thant bolstered McConnells proposition for a yearly worldwide Earth Day festivity at the March equinox, and gave an announcement to make it official. Today, the United Nations rallies with Senator Nelsons plan and consistently advances an April 22nd festival of what they call Mother Earth Day. Altered by Frederic Beaudry.

Process Intensification In Chemical Engineering Engineering Essay

Procedure Intensification In Chemical Engineering Essay Procedure Intensification (PI) is an idea in synthetic building which initially characterized in 1970 started by the need to lessen capital cost associated with a specific creation framework This was first spearheaded by ICI to decrease plant volume without relinquishing its creation limit [1, Dautzenberg] (Dautzenberg, et al., 2001). There was a first universal meeting in 1995, International Conference for Process Intensification in the Chemical Industry. Ramshaw was the early researcher who took a shot at process increase philosophical establishment, characterized PI as a procedure for making sensational decreases in the size of a synthetic plant to accomplish a given creation objective (Ramshaw, 1995). Procedure escalation includes emotional decrease in concoction plant types of gear by establishment or individual hardware volume as introduced by (Ramshaw, 1995) and (Stankiewicz, 2003). By referencing sensational decreases, Ramshaw notices of scaling down volume by the request for 100 to 1000. This definition by Ramshaw is very constrained and is refered to in (Stankiewicz, et al., 2000) as being too limited that it talked about additional on size decrease. PI can be characterized as escalation on specific wanted impact and size decrease is one of many wanted outcomes that can be accomplished through PI. This definition is augmented by Stankiewicz meaning of procedure heightening as any concoction designing improvement that prompts a significantly littler, cleaner and more vitality effective innovation is process escalation (Stankiewicz, et al., 2000). BHR Group characterizes process increase as: Process escalation is a progressive way to deal with procedure and plant structure, improvement and usage. Furnishing a substance procedure with the exact condition it needs to thrive brings about better items, and procedures which are more secure, cleaner, littler, and less expensive. PI doesn't simply supplant old, wasteful plant with new, strengthened gear. It can challenge plans of action, opening up open doors for new patentable items and procedure science and change to without a moment to spare or dispersed assembling (BHR Group, 2003). This has been broadly acknowledged (attempt to interface references) as meaning of procedure increase in compound industry. Procedure increase can be sorted into two kinds of approaches which are; (1) philosophy based methodology and another is (2) hardware based methodology. Figure Process intensfication and its parts (from Stankiewicz et al. 2004). This significant categorisation of two methodology in process escalation is additionally introduced and the absolute most recent existing modern models are given in an article in The Chemical Engineer diary (King, et al., 2010). Response Engineering includes Sizing and bla Response engineers spend a ton of endeavors and resourcefulness in improving reactors execution by contemplating and actualizing any ideal direction for the response framework to be worked (Nicol, et al., 2001). bla In response building, gear driven methodology is about reactor improvement of pace of response by explicit volume, heat move and mass exchange, thus may push compound procedure or impetus execution to accomplish the best out of their possibilities. These days this is done as far as improving change rates and lessening results development by accomplishing focus and temperature profiles [4, Multfunct.React. Agar pp. 379-381] (Agar, 2004). Catalysis is one of instances of procedure escalation approach by strategy when all is said in done detect, as it serves a capacity to lessen actuation vitality required for a response to happen. In compound industry there are two significant kinds of synergist reactor arrangements, being the organized and arbitrary reactors. These classes are audited later in the following segment in regards to their advantages in response building process escalation. A few applications in substance industry by process-escalating gear approach are coordinating a few unit tasks or supplies into one multifunctional reactor, planning another cross breed detachment, for example, responsive refining and receptive assimilation [2, Trans] (Stankiewicz, et al., 2000). Incorporation in the middle of two types of gear as models has been surveyed by Stankiewicz (2003) [5] Stamicarbons Urea 200plus innovation. In this paper, the reactor is structured joined with condenser and known as pool reactor. Size correlation indicated that in this specific case size of hardware diminished to one-fourth of the regular types of gear (Stankiewicz, 2003) [5]. The best reactor structure and setup is recognized in a specific synthetic procedure by information accessible in its response science, reaching design as far as how and when singular components go through the reactor and get in touch with each other and to what extent its character changes. Moreover, basic examinations in response by and large energy just as its thermodynamics to which components are uncovered along their response direction is significant in improving compound reactor or so as to incorporate reactor with some other unit activities. Through this reactor structure idea, the most reasonable reactor arrangement is chosen, e.g., perfect attachment stream, pressed bed and so forth. Generally energy bla.. bla.. bla.. In thinking about thermodynamics, heat move inside or over the limits of reactor is an essential thought to set up upgraded response in multifunctional reactor, in light of their enactment vitality required for crude materials to respond. In multifunctional reactor this is where vitality would be provided or expelled from an endothermic or exothermic primary response to keep up a forward drive of concoction response. Vitality adjusts are significant at this stage and building up temperature profile is required from examination for reason for concoction response escalation. Techniques for heat move are additionally investigated as there are classifications of warmth move strategies known to be proficient in a specific response. This is the typical and generally acknowledged methodology Singular reactor plan, for example, static blender reactor, solid reactor, turning circle reactor and so forth, are instances of hardware driven methodology in process heightening (Stankiewicz, 2003). This models are really ideas rotates on creating segment plan and improvement of a specific reactor. Improvement of Displaying of procedure increase. Principle PARTS a PI Area of Concern in Reaction Engineering Applications. Warmth trade in response building Reactor as a rule contains high measure of vitality to be specific warmth as response is advancing with reactor as a rule being worked at the most noteworthy temperature contrast with other hardware upstream and downstream. This is fundamental to the responses as warm vitality required for sub-atomic attach to frame or separate. Warmth trade in response building configuration has been concentrated widely as warmth move assumes a critical job in every single synthetic response. Agar D.W. (2004) (Agar, 2004) has classified warmth move into four classifications, specifically convection, recovery and response (Figure ). This categorisation enables a ton in giving the best warmth to move arrangement in knowing which the best reactor setup is in including or evacuating heat. Figure Heat moves for controlling temperatures and fixation profiles in compound reactors (from Agar, 2004). Convection is extra or evacuation of side-streams which deliberately constrains the accessibility of one reactant, consequently, improving selectivity, e.g.; cold-shot reactor. In recovery heat move there is an outside warmth move sources and sinks which works to create temperature contrasts in the middle of response stage and warming medium by taking in or evacuating heat elsewhere, e.g.; cooling towers, blade fan coolers, heat exchangers and so forth. Recovery heat move utilizes the reactor internals, typically beds or packings as a gathering of warmth and mass so as to build up temperature profile and furthermore fixations. This temperature couldn't increment when in consistent state activity (Agar, 2004). Response is a straight-forward blend of fundamental response with good valuable response either thermally or substantially, e.g.; oxyhydrogenation (Agar, 2004). Working temperature is accomplished in reactor by one of these warmth trade approaches utilizing different sorts of reactors frill in multifunctional reactor, for example, heat coat, tubes heat following or less ordinarily by warming curl. Mass exchange in response building Mix of mass exchange and impetus has been considered (since, whom, what are accomplishment up until this point.) and conspicuously applied in responsive refining processes which will be checked on in subtleties underneath. Pressing shapes Multifunctional reactors advancement. e.g; Pool reactor, receptive refining section, heat exchanger reactor Multifunctional reactors will be reactors that serve numerous elements of unit activities in single gear. These reactors typically joined with separators either refining or safeguard, or with heat move supplies, for example, cooler, warmer or condenser. A portion of the models are: Pool reactors (reactor-condenser) Receptive refining sections Pool reactor were talked about in Stankiewicz 2003 [5] (Stankiewicz, 2003), where mix of reactor and condenser yielded a novel hardware. Universes first pool reactor is known created by DSM Research in 1945. A kind of multifunctional reactor in which joined reactor and condenser was concentrated in subtleties by Ben Amor et al (1999) (Ben Amor, et al., 1999) took methanol amalgamation from its crude material, syngas in models as primary degree. (Include a touch of elaboration for progression accomplishment). This is additionally evolved and broke down in Haut, et al (2004) (Haut, et al., 2004) Warmth exchanger reactor is planned by consolidating reactor, heat exch

Is Print Media Dead in the 21st Century - Free Essay Example

With the emergence of digital media, the relevance of print media have been fiercely debated (Gomez, 2008; Leatherbarrow, 2012). The advocates of digital media supremacy bring to light the idea of the death of print media. In an attempt to persuade the public of the ultimate end of print newspapers, magazines, and books, the advocates present print media as fully outdated, expensive, and impractical (Anderson, 2014). What becomes evident from their pressure on the public is that they have initiated a zero-sum game à ¢Ã¢â€š ¬Ã¢â‚¬Å" print must die for digital to prevail (Anderson, 2014, n.p.). This essay is aimed at discussing whether print media are really dead in the 21st century. Drawing on the recent research evidence and authoritative opinions, the essay attempts to generate an in-depth analysis of the vitally important issue. Gomez (2008) asserts that print media (especially print books) continue to preserve popularity among the reading public because they greatly appreciate how print media look and smell. Drawing the parallels between peoples devotion to print media and patriotic feelings, Gomez (2008) poses a reasonable question: how can books ever be replaced, let alone disappear? (p.13). However, the author also claims that print media are significantly threatened by the wide spread of digital media and that the sales of print media are declining. Discussing the position of print med ia in the digital era, Hooper (2012) expresses a view that reports of the death of print have been greatly exaggerated (n.p.). To prove his opinion, Hooper (2012) mentions some examples of the increasing interest in print media. For instance, he claims that some sites and online services (e.g. Google, Moshi Monsters, and Net-A-Porter) have recently started to publish print magazines to attract new partners and customers and realise new strategic goals. Hooper (2012) also discusses the case of the famous Berlin magazine 032c. This magazine was created by Joerg Koch to advertise the website. However, the print magazine has acquired so much popularity among readers that the website was transformed into an archival repository. Moreover, as West (2009) specifies, many famous newspapers (e.g. The New York Times, Washington Post, Time, and The Guardian) are still published because the quality of journalism produced by traditional print media is still well ahead of the combined might of all the bloggers that inhabit cyberspace (n.p.). In the viewpoint of West (2009), digital media will not replace print media until the quality of digital media is increased. Likewise, Anderson (2014) mentions that even computational and scientific fields heavily rely on print media. For instance, in the medicine field, print journals are considered as crucial and reliable resources widely used by health care professionals. Nossek, Adoni, and Nimrod (2015) have conducted an interesting research on print media reading in nine European countries. The countries chosen for the research were technologically similar, but culturally different. The acquired evidence has clearly revealed that print media preserve their popularity in the 21st century. About half of the European respondents have acknowledged that they read either print books or print newspapers. However, the findings of Zickuhr and Rainie (2014) and Desilver (2014) have shown a gradual substitution of print books for digit al books. Despite these findings, Nossek, Adoni, and Nimrod (2015) claim that this displacement, if actualized, will only be partial (p.379). Although digital books are less expensive and are more accessible than print books, the tradition of reading print books is too powerful (Liu, 2008). Moreover, in the viewpoint of Nossek, Adoni, and Nimrod (2015), readers significantly enjoy design and artistic worth of print books. On the other hand, Nossek, Adoni, and Nimrod (2015) acknowledge that print newspapers have more chances for displacement than print books. This is explained by two major factors: 1) print newspapers are less popular among readers than print books and 2) digital media provide readers with a range of new opportunities (e.g. socialisation, an immediate access to national and international news, and co-creation of news) (Nossek, Adoni, and Nimrod, 2015). West (2009) acknowledges that some large newspapers will certainly fail to survive in the highly digital world becau se of the loss of monopoly. While the mentioned reasons for displacement can hardly be considered disputable, print media outperform digital media in the depth of media coverage, accuracy of information, and the diversity and quality of the content (West, 2009; Nossek, Adoni, and Nimrod, 2015). With regard to the latter aspect, the articles published in print newspapers and magazines are written by professional journalists who do not only produce grammatically correct writing, but also tend to discuss an issue or event from different perspectives, positions, and angles (West, 2009). In addition, Kitch (2009) specifies that people continue to view print media as crucial material objects which help them preserve memories of some events. Adoni and Nossek (2001) also point out that those readers who are unable to develop digital skills certainly prefer print books to digital books. What the research of Nossek, Adoni, and Nimrod (2015) has brought into light is that the majority of Internet users balance their time spent reading different media (p.381). Actually, the choice of digital or print media depends on readers needs and purposes of reading (Liu, 2008). For instance, those people who attempt to receive authoritative and detailed information on certain events choose print newspapers or print books, while those people who want to satisfy their psychosocial needs or want to be entertained choose digital media. In view of the fact that digital media and print media endow readers with diverse kinds of experience (Liu, 2008; Hooper, 2012), it is wrong to reject either of the two. This is proved by the survey of trade magazine editors conducted by Leatherbarrow (2012). According to the survey findings, editors strongly believe that their print magazines benefit from online versions and that people of different ages, professions, experiences, and skills prefer different kinds of media. In the viewpoint of one respondent, My sector has a traditional older, le ss technically-literate reader base. They spend 12 hours a day in their shops, and want to relax with a magazine they can hold, not in front of a screen (Leatherbarrow, 2012, n.p.). What is evident from this particular testimony is that print texts and digital texts cannot be differentiated on the premise of their different formats. It is the difference in experience that matters (Catone, 2013). However, as Richtel and Bosman (2011) acknowledge in their article, reading of print media is widespread not only among the old generation, but also among the young generation. Although parents are obsessed with digital devices and digital media, they attempt to inspire their childrens interest in reading print books. According to Richtel and Bosman (2011), parents hold the view that the experience of reading print books is unique and contributes much to the overall development of their children. This unique experience is explained by the fact that children establish emotional ties with p rint books (something which cannot be achieved with digital books). Through these emotional ties, they evoke all five senses and acquire different skills. In addition to children and old people without appropriate digital skills, researchers and scholars also contribute much to the survival of print media. As Berger (2006) specifies, academic authors prefer print publications to digital publications. Print books can be sold, distributed among friends, relatives, colleagues, and students, and used for citations. In the process of writing an academic paper, scholars and students tend to heavily rely on print books because online resources do not guarantee any longevity for citation as books and analog journals do (Berger, 2006, p.152). This assertion is consistent with the findings of Ramirez (2003) who investigated the reading preferences of students from the National University of Mexico and found that 78 percent of students read and better understand print media and materials, whil e only 18 percent preferred reading of digital materials. Even when students read a digital text, they cannot read it for more than two hours (Ramirez, 2003). According to Liu (2008), students tend to choose print media when a text or book is rather lengthy, when they need to profoundly investigate a specific issue or area, and when they need to take notes. What should be understood is that those who insist on the death of print media speak from the position of significant technological changes, fully disregarding social aspects of print media reading. Griswold, Lenaghan, and Naffziger (2011) express the view that digital media are not bringing about the death of reading, or a postprint age, or the disappearance of the book in ink-on-dead-trees form, but are changing the nature and type of reading experiences available (p.31). Following this line of argument, it becomes evident that modern readers do not have to dismiss print media for the sake of digital media. Instead, they hav e an opportunity to choose among different types of media. Moreover, by bringing to light the debate about the death of print media and by comparing print media to digital media, authors, researchers, and scholars unintentionally revive interest in print media (Sutherland and Deegan, 2012). The debate has a great impact on peoples minds and makes them reconsider their attitudes to the issue of print media. When in 1999 the British Library microfilmed and then eradicated American newspapers after 1850, this decision was negatively perceived by both English and international public (Chartier, 2004). As a result of this negative perception, American and English libraries were forced to stop destroying print newspapers and magazines. This particular example proves that people are not ready to easily reject print media, even though they widely read digital media. In the process of reading print and digital versions of the same text, readers use different methods and strategies of reading . Catone (2013) compares reading of digital media to watching a film version of a live performance. Those who understand the beauty and value of a print book certainly continue to invest in books to enrich their collection (Agresta, 2012). The recent survey of English and American readers conducted by Publishing Technology (2015) has demonstrated that readers between 18 and 34 years understand and highly appreciate the value of print books. According to the acquired evidence, 79 percent of American respondents and 64 percent of English respondents read print books last year. The research has also found that the majority of English and American readers tended to buy their print books in bookstores instead of using Internet stores (e.g. Amazon). The findings of this survey and the above mentioned studies provide conclusive evidence that print media are still alive. Moreover, in the viewpoint of Josefowicz (2009), the myth about the death of print media is created by information jun kies who use digital media and reject print media because they want to receive news in a fast way. However, Josefowicz (2009) claims that information junkies constitute a minor group of people. On the other hand, their voices are so loud that it may seem that the view of the death of print media is shared by the majority. In contrast to the research findings discussed in this essay, the opinions expressed by information junkies and digital media lovers are based on anecdotal evidence. Unquestionably, such evidence can hardly be considered trustworthy and reliable. As Josefowicz (2009) rightfully asserts, the end of print is a meme that has gained ascendancy in an environment of disruptive change in the communication ecology (n.p.).  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€š As the essay has clearly shown, print media are not dead in the 21st century. Despite the increase in reading digital media, the findings of the recent studies prove that people continue to rea d print newspapers, magazines, and books. In view of these findings, it is more appropriate to speak not about the death of print media, but about the evolution of a new functional division of labour among print media and their digital equivalents (Nossek, Adoni, and Nimrod, 2015, p.381). To satisfy their diverse needs, readers may successfully combine reading of print media and reading of digital media. The views of authors and critics mentioned in this essay reveal the main reasons why printed publications are destined to survive (West, 2009, n.p.). Bibliography Agresta, M. (2012). What will become of the paper book? Slate, 8 May. Available from: https://www.slate.com/articles/arts/design/2012/05/will_paper_books_exist_in_the_future_yes_but_they_ll_look_different_.single.html [Accessed 24 October, 2015] Adoni, H. Nossek, H. (2001). The new media consumers: Media convergence and the displacement effect. Communications. The European Journal of Communication Research, 26 (1), 59-83. Anderson, K. (2014). Identity crisis à ¢Ã¢â€š ¬Ã¢â‚¬Å" Does print need to die for online to flourish? The Scholarly Kitchen, 20 May. Available from: https://scholarlykitchen.sspnet.org/2014/05/20/identity-crisis-does-print-need-to-die-for-online-to-flourish/ [Accessed 24 October, 2015] Berger, S. (2006). The future of publishing in the digital age. In: P. Messaris L. Humphreys (Eds.), Digital media: Transformations in human communication (pp.147-158). New York: Peter Lang. Catone, J. (2013). Why printed books will never die. Mashable, 16 January. Av ailable from: https://mashable.com/2013/01/16/e-books-vs-print/#y7rqkMStoPqi [Accessed 24 October, 2015] Chartier, R. (2004). Languages, books, and reading from the printed word to the digital text. Critical Inquiry, 133-152. Desilver, D. (2014). Overall book readership stable but e-books becoming more popular. Pew Internet Research Project. Available from: https://www.pewresearch.org/fact-tank/2014/01/21/overall-book-readership-stable-but-e-books-becoming-more-popular/ [Accessed 22 October, 2015] Gomez, J. (2008). Print is dead: Books in our digital age. Basingstoke: Palgrave Macmillan. Griswold, W., Lenaghan, E., and Naffziger, M. (2011). Readers as audiences. In: V. Nightingale (Ed.), The handbook of media audiences (pp.19-40). Chichester: John Wiley Sons. Hooper, M. (2012). Who says print is dead? The Guardian, 3 June. Available from: https://www.theguardian.com/media/2012/jun/03/who-says-print-is-dead [Accessed 23 October, 2015] Josefowicz, M. (2009). The fal lacy of the print is dead meme. Mediashift, 27 April. Available from: https://mediashift.org/2009/04/the-fallacy-of-the-print-is-dead-meme117/ [Accessed 24 October, 2015] Kitch, C. (2009). The afterlife of print. Journalism, 10 (3), 340-342. Leatherbarrow, T. (2012). Do trade magazines have a future? White Paper of WRP Agency. Available from: https://www.wpragency.co.uk/wp-content/uploads/2012/11/WPR-Whitepaper.pdf [Accessed 24 October, 2015] Liu, Z. (2008). Paper to digital: Documents in the information age. Westport: Libraries Unlimited. Nossek, H., Adoni, H., Nimrod, G. (2015). Is print really dying? The state of print media use in Europe. International Journal of Communication, 9, 365-385. Publishing Technology (2015). New research reveals print habits die hard with millennial readers. Available from: https://www.publishingtechnology.com/2015/03/new-research-reveals-print-habits-die-hard-with-millennial-readers/ [Accessed 24 October, 2015] Ramirez, E. (2003). The impact of the Internet on the reading practices of a university community: The case of UNAM. World Library and Information Congress: 69th IFLA General Conference and Council, August 1-9, 2003. Berlin. Available from: https://archive.ifla.org/IV/ifla69/papers/019e-Ramirez.pdf [Accessed 24 October, 2015] Richtel, M. Bosman, J. (2011). For their children, many e-book fans insist on paper. The New York Times, 20 November. Available from: https://www.nytimes.com/2011/11/21/business/for-their-children-many-e-book-readers-insist-on-paper.html?_r=2 [Accessed 24 October, 2015] Sutherland, K. Deegan, M. (2012). Transferred illusions: Digital technology and the forms of print. Farnham: Ashgate Publishing. West, W. (2009). Print media will survive. Mercatornet, 3 September. Available from: https://www.mercatornet.com/articles/view/print_media_will_survive/5735 [Accessed 24 October, 2015] Zickuhr, K. Rainie, L. (2014). A snapshot of reading in America in 2013, Pew Internet Res earch Project. Available from: https://www.pewinternet.org/2014/01/16/a-snapshot-of-reading-in-america-in-2013 [Accessed 22 October, 2015]

The Chinese Traditional Culture Influences On The Outdoor...

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Racial Profiling And The Law Enforcement Essay - 1854 Words

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Impact Of Liquidity Ratio On Profitability - MyAssignmenthelp.com

Question: Discuss about the Impact Of Liquidity Ratio On Profitability. Answer: Introduction Telstra Corporation Limited is a leading telecommunications and technology company operating in Australia. The company builds telecommunication networks and provide product and services like mobile, internet access, pay television and many other. It provides 17.4 million mobile services, 6.8 million fixed voice services and 3.5 million retail fixed broadband services. The vision and mission of the company is to connect more and more people and to provide them more opportunities. For this, the company build simple and easy to use technology and content solutions, making it the largest national mobile network of Australia ("Telstra", 2018). Telstra was previously originated with the Australia Post as a government department but now it is fully privatized. The CEO of the company is now focusing to make the company more consumer focused by undergoing a change program. In August 2011, Telstra announces to expand its customer services to social media having 24/7 coverage. By the end of November 2012, the company enjoys the increase in its live chats and the growth rate of this service has also increased to a great extent ("Telstra", 2018). As of 2016, the company owns about 360 retail stores and more than 300 stores are equipped with low energy Bluetooth beacons. After the privatization, the shares of Telstra has risen to $5 per share in December 2013 to $6 per share in December 2014. The company is listed on Australian Stock Exchange (ASX) and traded as ASX: TLS. The company is looking forward to extend its growth in the international markets under the new CEO Andy Penn ("Telstra - Investors", 2018). Income statement The income statement also known as statement of performance, is prepared to measure the amount of profit created by the company. It also provides users with an idea about the profitability of a concern (Buckland Davis, 2016). Profit and loss is basically the difference between the total income and total expense. If the difference is positive, it is profit and if it is negative, there is a loss. A financial profit shows an increase in the owners equity and a loss shows a decrease in the same. Income means earning benefits through reduction in liabilities or inflow of assets (Hussey, 2011). Figure 1: Total net income or loss for the year ending 2013-2017 The summary of income statement (Appendix 1.1) shows the data of Telstra Corporation for the financial year starting from 2013 to 2017. During the first two years, it can be seen that the profit has increased by $684 million. In financial year 2015, the trend reversed and profit started decreased by $263 and continues to decline by approx. 17% in FY 2016 and 2017, as compare to the percentage change in FY 2014. The maximum profit earned was in FY 2014, $4,549 (Figure 1). Figure 2: Sales revenue, COGS and Gross margin comparison Ideally, to run a healthy business, the % increase in the sales should be greater than than the % increase in expenses including cost of sales (Charifzadeh Taschner, 2017). Taking the data from the horizontal analysis of income statement (Appendix 1.2) and keeping 2013 as base year, it can be seen that there has been an increase in the sales from -1.50% to 1.34% in year 2014-2015 followed by a rise in COGS from 1.20% to 7.04%, as a result of which, gross profit has declined $18,975 in FY2015 as compare to that of $19.084 in 2013. The same trend continues in the subsequent years and profit tends to declines. The vertical analysis (Appendix 1.3), shows that the gross profit margin as a percentage of sales was almost constant from the year 2013-2016. Later it decreases to 57.71% in 2017. COGS keeps on increasing from 25.17% in 2013 to 42.29% in 2017. An increase in administrartive cost as a percentage of sales revenue is reported during the period whereas other operating expenese reduces during 2013-2017, with lowest of 7.07% in 2017. A fluctuating trend has been noticed in the net income of the company. The income as a % of sales increases to 18.11% in 2014 and then tends to decraese in following years. in 2017, net icome was 14.95% of sales revenue. Figure 3: selected factors as a percentage of sales Balance sheet The sheet of balances is also known as statement of financial position. It represents the financial position of the company in the market for a given period of time. It shows all the assets and liabilities owned by the organization (Woolf Hindson, 2011). Analysing Telstras balance sheet for FY 2013-2017, it can be said that the total assets has increased over the period but a decrease is also there in FY 2017 $42,133 as compare to the previous four years. Total liabilities and total equities both have increased throughout the period. Liabilities from $ 25,916 to $ 27,592 and equities from $12,611 to $14,541 (Figure 4, Appendix 1.4) Figure 4: Total Assets, liabilities, and equities comparison In FY 2014, current assets were 26.52% of total assets and by the end of 2017, they made up 18.66% of total assets. On the other hand, in FY 2015, non-current assets were 82.77% of total assets which reduces to 81.34% in FY 2017 (Figure 5 a, Apeendix 1.6). The reason for this large percentage is the incresase in the proportion of assets used for property, plant and equipment and also the increased goodwill (Figure 5 b) Figure 5: Selected Factors as % of Total Assets (a) Figure 5: Selected Factors as % of Total Assets (b) The reason for the increase in total liabilities over the period is the rise in current liabilities including deferred revenues, short trem borrowings and other current liabilities. Total equities has also increased in proportion to total assets. In FY 2013, equities were $12,611 (32.73%), which gradually increased to $14,541 (34.51%) in FY 2017. Constant increase in retained earnings and less fluctuation in value of common stock is the reason for increased equities (Figure 6). Figure 6: Change in Total Liabilities and Equities (%) Cash Flow Statement It is the statement which shows total cash inflows and total cash outflows of the company. It gives an idea about the companys cash movements for a particular time period (Vogel, 2014). Apart from examining the profit and loss statement and balance sheet of Talestra Ltd., it is also necessary to examine and evaluate its cash flow satement, just to know about the cash position of the company and the problems related to it, if any. Cash Flow from Operating Activities It is the net flow of cash from companys operations. Telstras operating cash flow had fluctuated to great extent. In FY 2014, it was $8,613 which was more than $8,359 of 2013. After that it continues to fall in subsequent years and reported at $7,775 in FY 2017. Cash Flow from Investing Activities Investing activities shows negative cash flow over the period of five years. Large variations can be seen as in 2014, net cash used was $1,130 and it boost up to $5,692 in FY 2015. Then, again it reduces in 2016 and increases in 2017 at $4,279. The reasons for these variations are increase in the investments in plant and property and purchase of intangibles throughout the year. The sale proceeds of intangibles and investment are compartive less. Net cash inflow/outflow The result of companys cashflow activities comprises the net cash inflow and outflow. In FY 2014, it has increased from negative -$1,466 to positive $3,048. However, the trend changes in 2015 and net cash become negative -$4,131. It again became positive in 2016 and then in 2017, it became negative -$2,614. The fluctuations in the cashflow activities are the result for these variations. Financial Ratio Analysis Profitability ratios Return on assets (ROA) It is a ratio which gives an idea about how efficiently, a company is using its assets to make revenue. It is calculated by dividing net income with companys total assets (Barman Sengupta, 2017). Referring to (Appendix 1.9, Figure 7), it can be seen that ROA of Telstra has been compared to ROA of Queste communications Ltd. Telstras ROA has dropped from 10.98% to 10.60% during FY 2014-2015. It again increases to 13.81% in year 2016 and then reduces to 9.11% in year 2017. This fluctuation and reduction in FY 2017, shows that the company is not able to produce more revenue from its assets as it is less efficient in managing them. On the other hand, ROA of Queste remain negative throughout the period. In FY 2014, it was -7.27% and in 2017 is was -20.67%. Figure 7: ROA Return on Equity The ROE of Telstra was almost same fo year 2014 and 2016, whereas it was highest in 2017 at 25.72% (figure 8). In comparision to this, Questes ROE was negative in all the years. in FY 2014 and 2016, it was almost same and in 2017 it was -21.97%, highest among all (Appendix 1.9). Figure8: ROE Efficiency ratios These ratios indicate how effectively and efficiently company manages its assets and liabilities. They are used to measure companys short term performance (Jordan, 2014). A comparison of all the efficiency ratios between Telstra and Queste is done in Appendix 1.10. Asset turnover ratio (figure 9) of Telstra remains constant at 0.17% for the time period 2014-2016 and in 2017 it increases to 0.26%. It is said that, higher the ratio, the more a company make sales with use of its assets. That is why, I high asset turnover ratio is preferred, depending upon the type of industries (Jenter Lewellen, 2015). Increase in the ratio in 2017, shows that the company became more efficient in sense of utilizing its assets to create revenue. Inventory turnover ratio indicates the number of times, the inventory is sold or replaced during a given period of time. The Telstras ITR has fallen over the period of five years. In FY 2013, it was 16.38% which reduces to 15.11% in FY 2017. This requires the company to increase the volume of inventories in order to extend its business (figure 9). Debtor turnover ratio also known as receivable turnover ratio, directly influences the liability of the company. Usually, a high DTR is better because it indicates that the company is very much effective in its debtor collection. A low DTR shows ineffectiveness in collection (Penman, et.al. 2017). Telstras DTR has increased throughout the period from 0.96 to 1.07, which means the company is collecting its receivables timely and effectively. On the other hand, Questes DTR is comparatively low that is 0.54 in 2014 and 0.65 in 2017. Creditor turnover ratio of Telstra remains almost same in year 2014-2016 and it increases to 8.27% in year 2017. Questes CTR is negative during the five years, -0.05 in 2014 to -0.12 in 2017. Liquidity ratios The ratios represents the liquidity of the company. It is very necessary for the company to have enough liquid resources to meet its short term obligations (Tracy, 2012). A comparison of liquidity ratios between two companies is shown in Appendix 1.11. Figure 10 (a): Liquidity ratios The current ratio represents comparision of businesss current assets with current laibilities. Ideal current ratio is 2:1. A high ratio indicates more liquidity in the business and vice-versa (Periasamy, 2009).The CR of Telstra is highest at 1.20 in 2014 and lowest at 0.86 in 2017. Although the CR of 2017 and 2015 is same (figure 10 a). In contrast, Questes CR is highest at 11.78 in 2013 and lowest at 1.63 in 2017. It has constantly reduced during the period. In terms of this, Queste is more liquid than Telstra (figure 10 b). The quick ratio means excluding inventory and prepaid expenses and the ideal is 1.1 (Saleem Rehman, 2011). Telstra QR was 1.12 in 2014 which declined to 0.70 in 2017, whereas QR of Queste was 11.35 in 2013 and for subsequent years it was same as the current ratio because of absence of inventory value. Capital structure ratio Capital structure or gearing ratio (Appendix 1.12) helps the company in determining the level of risk and long term solvency. If the portion of debt is too high then there will be a risk for business, to become insolvent (Levi Segal, 2015). The summary of capital structure ratios is given in Appendix 1.12. Debt to equity ratio, Debt ratio and Equity ratios shows the extent to which company has raised funds through outsiders. It is an important factor to be considered while assessing the risk. Analysis shows that D/E ratio of Telstra has reduced from 2.06% to 1.90% over the period. The debt ratio stands at 0.67% in 2013 to 0.65% in 2017. Equity ratio has also increased from 0.33% to 0.35% D/E ratio of Queste has almost remain same during the years except in 2017, where it was 0.10%. Debt ratio has risen from 0.4% to 0.9% and equity ratio has decreased during the period from 0.96% to 0.91%. The portion of debt is more in Queste as compare to Telstra. Conclusion The report concludes that the financial analysis of Telstra Corporation Ltd. for years 2013-2017, represents significant changes in the performance and position of the company. Sales has grown over the period as it was highest $25,912 in 2017 with the increased COGS of $10,958 in same year, resulting in decreasing gross profit margin. Total assets and liabilities both have increased during this period which results in declining net profit. The companys cash flow statement has also shown negative cash flows in year 2013, 2015 and 2017, indicating the state of companys liquidity and solvency. Ratio analysis is been used to measure the overall performance of Telstra comparing to Queste Communications Ltd. Profitability, efficiency, liquidity and capital structure ratios are used to investigate about the companys financial performance. Overall it is concluded that, Telstra is performing pretty well as compare to Queste and is more efficient and effective in terms of earning profits. References About Us. (2018).Queste.com.au. Retrieved 13 January 2018, from https://www.queste.com.au/about-us Barman, A.N. Sengupta, P.P., (2017). DETERMINANTS OF PROFITABILITY IN INDIAN TELECOM INDUSTRY USING FINANCIAL RATIO ANALYSIS.International Journal of Research in Management Social Science, p.25. Buckland, R., Davis, E. W. (Eds.). (2016).Finance for growing enterprises. Routledge. Charifzadeh, M., Taschner, A. (2017).Management accounting and control: tools and concepts in a Central European context. John Wiley Sons. Hussey, R. (2011).Fundamentals of international financial accounting and reporting. Jenter, D., Lewellen, K. (2015). CEO preferences and acquisitions.The Journal of Finance,70(6), 2813-2852. Jordan, B. (2014).Fundamentals of investments. McGraw-Hill Higher Education. Levi, S., Segal, B. (2015). The Impact of Debt-Equity Reporting Classifications on the Firm's Decision to Issue Hybrid Securities.European Accounting Review,24(4), 801-822. Penman, S. H., Reggiani, F., Richardson, S. A., Tuna, A. (2017). A Framework for Identifying Accounting Characteristics for Asset Pricing Models, with an Evaluation of Book-To-Price. Periasamy, P. (2009).Financial Management. 2nd Ed. New Delhi: Tata McGraw-Hill Education Pvt. Ltd. Saleem, Q., Rehman, R. U. (2011). Impacts of liquidity ratios on profitability.Interdisciplinary Journal of Research in Business,1(7), 95-98. Telstra - Investors. (2018).Telstra.com.au. Retrieved 13 January 2018, from https://www.telstra.com.au/aboutus/investors Telstra. (2018).Telstra.com.au. Retrieved 13 January 2018, from https://www.telstra.com.au Tracy, A. (2012).Ratio analysis fundamentals: how 17 financial ratios can allow you to analyse any business on the planet. RatioAnalysis. net. Vogel, H. L. (2014).Entertainment industry economics: A guide for financial analysis. Cambridge University Press. Woolf, E., Hindson, M. (2011).Audit and Accountancy Pitfalls: A Casebook for Practising Accountants, Lawyers and Insurers. John Wiley Sons.