Insurance Analysis in Kenya Essay Example

Insurance Analysis in Kenya Essay Introduction Insurance in Kenya is known to have been in existence for over sixty years now with the first insurance companies believed to have been owned by British insurers during the colonial times. The industry is governed by the Insurance Act and regulated by the Insurance Regulatory Authority. The Insurance Regulatory Authority (IRA) was created by the Insurance (Amendment) Act of 2006 and came into operation on 1st May 2007. The Authority was established with the mandate of regulating, supervising and developing the insurance industry. Before the establishment of IRA, these functions were performed by the Department of Insurance in the Ministry of Finance. (IRA 2010) As per AKI Insurance Industry Report for the year 2009, there were 44 licensed insurance companies, majority offering non-life insurance business only, nine of them life insurance business while fifteen were composite (both life and non life). There were 137 licensed insurance brokers, 21 medical insurance providers (MIP’s) and 3,076 insurance agents. Other licensed players included 106 investigators, 57 motor assessors, 18 loss adjusters, 2 claims settling agents, 5 risk managers and 26 insurance surveyors. The industry’s contribution to the country’s GDP is still low although there has been notable growth for the last seven years. The gross written premium by the industry was Kshs 64. 47 billion compared to Kshs 55. 19 billion in 2008, representing a growth of 16. 8 %. The gross written premium in non-life insurance was Kshs 43. 11 billion (2008: Kshs 36. 89 billion) while that from life insurance business was Kshs 21. 36 billion (2008: Kshs 18. 30). Non-life insurance premium grew by 16. 8 % while life insurance premium and contributions from deposit administration business grew by 16. %. The combined industry profit after taxation increased by 14. 4% to Kshs. 4. 29 billion compared to Kshs 3. 85 billion in 2008. In 2009 the industry paid Kshs. 20 billion for claims for general insurance business and as benefits to life policy holders. (AKI 2009) Penetration of insurance in the year 2009 was 2. 84% compared to 2. 63% in 2008. Life insurance recorded a penetration ratio o f 0. 94% (2008:0. 87%) while that of non-life insurance was 1. 90% (2008:1. 76%). Only half a million Kenyans, about 1% of the total population are said to have take up life insurance. We will write a custom essay sample on Insurance Analysis in Kenya specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Insurance Analysis in Kenya specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Insurance Analysis in Kenya specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Up to 80% of Kenyans have no insurance cover due to widespread poverty and a false belief that insurance covers are mainly for the rich. However, based on the recent industry statistics, there is an emerging trend that Kenyans are indeed sensitive to the need for protection against an uncertain risky future. According to Swiss Re (World Insurance Report2009), South Africa is the leading African country in the insurance industry, accounting for 90% of the total volume, followed by Morocco then Egypt. Growth in non life insurance business in Africa was sluggish at 0. 4%. The report pointed out that Africa produced only 1. 4% of the global premium volume in 2009. South Africa’s life insurance premium fell by 16%, premium Growth in Morocco remained flat at 0. 1%, while in Egypt premiums shrank by 5%. There are currently five major players in the insurance industry in Kenya. These include The Co-Operative Insurance Company of Kenya Ltd. (CIC), UAP Financial Services Ltd, APA, Jubil ee Insurance and Resolution Health East Africa. Majority of these insurers operate nationally with a few operating regionally. Some international insurers have entered the Kenyan market through mergers with already existing players. Two of the leading companies were formed through a merger between two existing insurance companies, for instance, APA was formed after a merger between Apollo and Pan-Africa General divisions. Others form partnerships with small insurance companies to cover non-traditional policies like political violence. Solutions need to be developed to address new risks. Insurers have finally recognized the growing needs of the Kenyan people. Agricultural insurance is one of the new policies designed for farmers located in the different parts of the country to shield them from financial loss caused by unfavourable weather conditions. The Cover is provided for livestock, specific crops and poultry losses. Payment of premiums is quick and easy for the farmers, premium payments are done through a specially designed mobile application and in the event of a loss, and farmers are paid through the same method. Medical insurance is divided into three segments, one health cover operated by employers, the second individual cover and the third coverage operated by the government targeting low income earners through the National Health Insurance Fund (NHIF). Health insurers have raised concern about clients who view cover value as expensive as opposed to the benefits. That’s why insurers are coming up with affordable schemes. Medical e-cards that users top up, similar to prepaid airtime scratch cards, any member of the family can use the e-card as long it has money. Due to poor health infrastructure in the country, rural hospitals have inadequate facilities and are understaffed, thereby making people to travel to major city for treatment; this has also contributed to the rise in health insurance cost. Many insurers have shied away from HIVAIDs insurance because of the risks involved. Travel cover is currently being offered by only two insurers, one of them has partnered with Kenya’s main airline company to provide a package that covers loss of luggage, flight delays, cancellation, medical emergency and personal liability. The premium cost is based on traveller’s destination and length of stay. Claims are made online or when the client returns from their trip. The cover can be acquired when buying a ticket or through travel agents. Higher learning has become very expensive both for local and overseas universities, forcing parents to borrow heavily from banks to pay university fees. Education policy is definitely necessary for most parents who want their kids to get good education. The industry is definitely on the growth stage and most insurers are strengthening their market share by positioning themselves as affordable insurance providers offering new products for the untapped regions such as younger and older people. Industry analysis PESTE Political Economic Social Technological Political Factors The political violence experienced in 2007 resulted in major losses for businesses and individuals mainly because current insurance companies were not offering cover for such risks. The unrest has made insurers quickly come up policies to cover these risks. Motor insurance is reported to have doubled in the last six months; the government through the Insurance Regulatory Board has increased the premiums in a move to counter fraud and fake claims known to have forced over ten motor insurance companies to shutdown due to losses incurred through claims. Economic Factors High tax imposed on life and health insurance has made policies to be expensive and affordable to a small percentage of the population. The insurance industry is pushing for tax deductible premiums paid on life and health insurance to be tax deductible from chargeable income up to 30 percent of the gross income. Income Tax Act Cap 470, Section 19(5) and (6) Poverty and unemployment are still the biggest challenges facing the industry. With no source of income for many youth and women, the last thing that this demographic prioritize is insurance. This makes it very hard for the growth and development of the insurance companies because of the low number of clients which represents the few employed people who in turn can be able to pay for the insurance policies provided by the insurance companies. This situation is further compounded by the rise of HIV and AIDS which adversely affects the working class that forms a critical target group for insurance services. The rising levels of poverty and high cost of living has reduced disposable income hence relegating insurance matters to the back burner. This is as a result of people first meeting their basic needs first before considering other expenses, which include insurance policies. Perhaps the government can relax some of the strict regulations present for private investors to encourage investment both locally and internationally. This may increase the number of the insurance companies in the country allowing more space for competition thus in the long run lowering the costs of insurance policies to the advantage of the consumers. High inflation rates has increased operation costs , raised the cost of living and therefore, made it difficult for the citizens to be able to afford insurance policies due to the current turbulent economic conditions that has led to an increase in policy prices. Fraud / Corruption largely affect the development of the insurance sector in Kenya. It has undermined the economic development of the country by generating considerable distortions and inefficiency. This makes the companies to constantly perform poorly and thus calls for the introduction of anti money laundering which helps to curb the vice. Social Factors In order to boost penetration of insurance in Kenya, vigorous awareness campaigns should be used to educate people on the importance of insurance. Policy covers should be packaged with the end-user in mind, for example selling agricultural insurance cover to non-farmers is useless. Product development should be flexible to allow the ever changing needs of the dynamic insurance industry. oIncrease in lifestyle diseases – oIlliteracy levels spread Insurance knowledge and risk management to clients looking to reduce losses, advice clients how to manage their finances and how they can help minimize risks oInadequate health facilities Cultural values – harambee culture oDemographic changes oNegative perception on insurance, bad publicity fraud, fake claims Technological Factors Mobile phone use has eased the communication between clients and the insurance companies in the sense that if any of the two parties want to contact the other, it becomes very simple. Increase use of the Internet has enabled customers to access information, submit claims and compare policies from different providers. Environment †¢ Climatic changes †¢ Emergence of informal settlements. Legal †¢ Lengthy legislation process. †¢ Corruption and fraud. †¢ Lack of structured compensation scheme. Porters 5 Competitive Forces Analysis 1. Rivalry among existing players. The insurance industry is becoming highly competitive. The difference between one insurance company and another is usually not that great. As a result, insurance has become more like a commodity an area in which the insurance company with the low cost structure, greater efficiency and better customer service will beat out competitors. Insurance companies also use higher investment returns and a variety of insurance investment products to try to lure in customers. In the long run, were likely to see more consolidation in the insurance industry. Larger companies prefer to take over or merge with other companies rather than spend the money to market and advertise to people. 2. Threat of New Entrants. Mergers and strategic partnerships are on the rise to introduce products with low premium rates. While the industry leaders have already positioned themselves there are still untapped areas such as the youth and the older generation. Government requires all insurers to maintain a solvency margin of about USD 12,476, or 5 percent of assets in excess of liabilities. This might prevent new players from entering the market because of the high margins required 3. . Availability of Substitutes. Since the existing products in the market are similar, consumers will look for an affordable product to suit their needs. Some policies have many substitutes others have few for instance motor insurance is offered by most of the insurer while health is offered by a selected few. Most large insurance companies offer similar suites of services. Wh ether it is auto, home, commercial, health or life insurance, chances are there are competitors that can offer similar services. In some areas of insurance, however, the availability of substitutes is few and far between. Companies focusing on niche areas usually have a competitive advantage, but this advantage depends entirely on the size of the niche and on whether there are any barriers preventing other firms from entering. 5. Bargaining Power of Buyers. Individuals looking for a good cover obviously have a lower bargaining power compared to corporate customers. 6. Power of Suppliers. Foreign investors are starting to have an interest in this industry. Since insurance is still growing, existing experts in the industry tend to hop from one company to another looking for better pay

Macbeth Characters

'Macbeth' Characters The characters in Shakespeare’s Macbeth are, in large part, Scottish noblemen and thanes that Shakespeare lifted from Holinshed’s Chronicles. In the tragedy, Macbeth and Lady Macbeth’s ruthless ambition contrasts with the moral righteousness of King Duncan, Banquo, and Macduff. The Three Witches, evil characters at first glance, act both as agents and witnesses of fate, setting the actions in motion. Macbeth The thane of Glamis at the beginning of the play, Macbeth is the protagonist of the eponymous tragedy. He is initially presented as a Scottish nobleman and a valiant warrior, but his thirst for power and subsequent fear lead to his undoing. After he and Banquo listen to a prophecy delivered by the Three Witches, who proclaim him thane of Cawdor and, subsequently, king, he becomes corrupt. Macbeths wife persuades him to kill Duncan, the king of the Scots, during a visit to their castle in Inverness. He proceeds with the plan despite his doubts and fears and becomes king. However, his actions cause him to fall into a state of constant paranoia, to the point that he has his ally Banquo and MacDuffs family murdered. After seeking the witches advice, they tell him that no man â€Å"of woman born† will ever be able to slay him. He is eventually beheaded by Macduff, who was â€Å"from his mother’s womb untimely ripped.† Macbeth’s characterization can be described as anti-heroic: on one hand, he behaves like a ruthless tyrant, on the other, he does show remorse. Lady Macbeth Macbeth’s wife, Lady Macbeth, is a driving force in the play. She first appears on stage reading a letter from her husband, who details the prophecy delivered by the witches predicting that he would become king of Scotland. She thinks her husband’s nature is â€Å"too full o the milk of human kindness† (act I, scene 5) and belittles his manhood. As a consequence, she pushes her husband to murder King Duncan and do whatever it takes to be crowned king of the Scots.   The deed leaves Macbeth so shaken that she has to take command, telling him how to lay out the crime scene and what to do with the daggers. Then, she mostly recedes as Macbeth turns into a paranoid tyrant, if not to remark to their guests that his hallucinations are nothing but a longtime ailment. However, in act V, she becomes unraveled, too, having succumbed to delusions, hallucinations, and sleepwalking. Eventually, she dies, presumably by suicide.   Banquo A foil to Macbeth, Banquo starts off as an ally- both are generals under King Duncan’s rule- and they meet the  Three Witches  together. After prophesying that Macbeth will become king, the witches tell Banquo that he will not be king himself, but that his descendants will be. While Macbeth is enthralled by the prophecy, Banquo dismisses it, and, overall, displays a pious attitude- by praying to heaven for help, for example- as opposed to Macbeth’s attraction to darkness. After the king’s murder, Macbeth starts seeing Banquo as a threat to his kingdom and and has him killed.   Banquos ghost returns in a later scene, causing Macbeth to react with alarm during a public feast, which Lady Macbeth chalks up to a long-term mental ailment. When Macbeth returns to the witches in act IV, they show him an apparition of eight kings all bearing a strong resemblance to Banquo, one of them holding a mirror. The scene carries deep significance: King James, on the throne when  Macbeth  was written, was believed to be a descendant from Banquo, separated from him by nine generations. Three Witches The Three Witches are the first characters to appear on stage, as they announce their agreement to meet with  Macbeth. Soon after, they greet Macbeth and his companion Banquo with a prophecy: that the former  shall be king, and the latter shall generate a line of kings. The witches prophecies have a great influence on Macbeth, who decides to usurp the throne of Scotland. Then, sought by Macbeth in act IV, the Witches follow Hecate’s orders and conjure visions for Macbeth that announce his impending demise, ending with a procession of kings bearing a strong resemblance to Banquo. Although during Shakespeare’s time witches were seen as worse than rebels, as political and spiritual traitors, in the play they’re amusing and confusing figures. It’s also unclear whether they control fate, or whether they are merely its agents. Macduff Macduff, the thane of Fife, also acts as a foil to Macbeth. He discovers the corpse of the murdered King Duncan in Macbeth’s castle and raises the alarm. He immediately suspects Macbeth of regicide, so he does not attend the crowning ceremony and instead flees to England to join Malcolm, King Duncan’s eldest son, to convince him to return to Scotland and reclaim the throne. Macbeth wants him murdered, but the hired assassins take his wife and his young children instead. Eventually, Macduff manages to slay Macbeth. Even though nobody â€Å"of woman born† could murder him, Macduff was actually born via caesarean section, which made him the exception to the witches’ prophecies. Duncan The King of Scotland, he symbolizes moral order within the play, whose values are destroyed and restored as the tragedy progresses. While trusting and generous in nature (his virtues / Will plead like angels, trumpet-tongu’d’I 7.17–19) especially towards Macbeth, he is firm in his punishment of the original thane of Cawdor.   Malcolm Duncan’s eldest son, he flees to England when he finds out his father was murdered. This makes him look guilty, but in reality he sought to avoid becoming another target. At the end of the play, he is crowned king of Scotland. Fleance Banquo’s son, he is ambushed by Macbeth’s assassins alongside his father, but manages to escape. Even though he does not become king at the end of the play, we know that the current English monarchy during Shakespeare’s time descends from Banquo.

How to Get Connections Without Going to Networking Events

How to Get Connections Without Going to Networking Events However you feel about networking, it works and it’s necessary. If you hate networking events- whether you’re antisocial, shy, or just really tired of that scene- chances are you avoid going to them as often as you can, and when you do go, you’re probably not at your best. The good news is, most events are probably not worth your time anyway. People at events are often distracted, excited, and dealing with their own social anxiety. And just throwing business cards around doesn’t really do much for building quality relationships- it just gets you quantity of potential contacts, which doesn’t necessarily convert. What you’re after is quality. And you can easily achieve that without going to events.Here are a few strategies for how to get connections in other, better ways.Talk About Your ProjectsYou’re working on an exciting and challenging new project. Why not ask friends and colleagues if they know anyone who would be particularly suite d and/or willing to answer a few questions you may have about some unbelievably cool aspect of your project- or just one with which you’re not quite yet superstar familiar? Benefits: instant icebreaker, friends-of-friends connection, personal intro, and built in reasons to follow-up. Just be careful you only use this when you have a project or problem worth implementing the phone tree for.VolunteerVolunteering is a great way to meet people, particularly ones with similar values and interests. And it pads out you resume as well. Try to pick something that has at least some tangential connection to your industry or field- that way the people you meet are more likely to be able to help you down the line.Use Social Media with SavvyIt’s right there waiting for you and you can do it all in your pajamas. Start with LinkedIn- that’s what it’s for. There are over 400 million people on the site, and almost all of them for the same reason: to build their networks. C heck out the â€Å"Professionals Like You† tab, a virtual meet-up for people in similar situations and industries. Check out your peers, and send the occasional cold (but carefully personalized!) outreach message. Let people know you’re looking to build up your network and to recommend anyone they know that might be in your industry. Also try joining groups or chats or webinars. You’ll never know who you might meet.Reach Out to Who You KnowYou can beef up your network simply by talking to people you already know. That’s way less daunting. Milk your friends, colleagues, and connections for anyone they know who might be a good fit for you, or vice versa. Get their contact info, and, voila! You just networked. And on the bright side: you have a better intro to them than you would if you just sidled up at the hors d’oeuvres table.

Outer Space and Inner Space Essay Example | Topics and Well Written Essays - 1000 words

Outer Space and Inner Space - Essay Example This paper seeks to discuss why Theremin became popular during this period, how it works, its effect on the audience, and the various ways in which it is used in both outer space and inner space movies. Theremin is named after it inventor- a Russian inventor known as Leon Theremin. This is an early electronic music instrument that functioned without the control of the performer. The instrument was patented in 1928 with the sole intention of using it for melodic music in the traditional vein. Several years after its invention, Theremin was widely used in the making of several films. However, its application in film was limited to some types of films such as suspense and science fiction films where the technique of sound manipulation was effective. The1950 time period was the perfect period for this electronic music instrument as it was highly popularized in Hollywood. According to Weird Vibration (2002), during that period, â€Å"Hollywood was hard-pressed both by the court-ordered selling of studio-owned theaters and by competition from the new medium of television from the new medium of television; the financial pressures reminded producers that it was cheaper to build one monste r than a series of planet landscapes and props†. Following the popularity of these types of films in the 1950s, â€Å"Hollywood composers looked to technology for the alien Other’s stereotypical voice† (Weird Vibrations, 2002). As such, music composers and film makers popularized the use of Theremin due to its strong semiotic properties. Science fiction and suspense films that used this electronic instrument stood out as opposed to those that were non-Theremin-flavored. According to Weird Vibration (2002), †Also there is an important difference exists between the Theremin-flavored musical ideas with which composers for the science fiction films limned their extrater-restrial others and Hollywood’s standard musical depiction of outsiders. The difference

RFID is increasingly used in logistics. Discuss its advantages and Essay - 1

RFID is increasingly used in logistics. Discuss its advantages and disadvantages from a global perspective - Essay Example 285-303) highlighted cost reduction in non-calibrated tools by implemented RFID solutions. Calibrated tools are vital for quality production and require constant tracking for most advantageous labor efficiency and productivity. The RFID solution will track the calibrated tools and reduce cost significantly. The study also concludes the calculation of a net present value analysis as compared to do-nothing scenario, , by deploying the RFID technology, the cost saving figures were approximately $ 60,000. By implementing RFID, other areas can also be integrated to save more cost and produce efficiency. Therefore, RFID integration in specialized manufacturing is beneficial in terms of cost, efficiency and tracking. Moreover, asset management systems that are integrated to Enterprise resource planning (ERP) will be useful when integrated to RFID technology. The objective of asset management systems is to locate accurate assets, specifically at the exact time, and present information about each, along with its status. In order to carry out processes in asset management systems, a tag is attached to each asset, which allows the transmission of information, by frequency identification to the reader. After receiving the data, the reader sends it to the inventory management system for tracking the location via the production facility (Jones et al. 285-303; Jones et al. 285-303). 2 Automated Manufacturing and Logistics Control The other dimension of RFID is passive RFID that is implemented in automated manufacturing and logistics control. The passive RFID technology is beneficial for any business process requiring fast flow of items. Moreover, passive RFID systems transmits energy entirely from the reader devices called transponders which are relatively inexpensive, making them the ideal choice and easy to apply for manufacturing and logistics control systems. Likewise, these transponders are easy to fix on the object for identification. Furthermore, RFID technology facili tates real time object visibility with high accuracy providing organizations to continuously identify and locate all items with real time data management (Keskilammi, Sydanheimo and Kivikoski 769-774). 3 Real World Examples In order to gain a better idea, some real world examples will illustrate the operations and processes that are facilitated by RFID in organizations. This section will describe some real world examples of implementing RFID for improving the efficiency of production in a department for packing integrated circuit. Liu and Chen conducted a study in 2009 for improving production efficiency in an integrated-circuit packaging house by implementing RFID technology. The integration with electronic framework, RFID technology, and ERP system was implemented along with Oracle AIM. The system reflected two modules named as electronic receiving modules and inventory transaction module respectively. The conclusion and results highlighted the implementation of electronic receivi ng module is utilized to enhance accept / check operation issues, operations associated with stock-in-record processing and document hauling operations. On the other hand, inventory transaction form is capable to handle demands for entry information related to accounting, transaction form request related to inventory, transaction records and processing replacement. By implementing RFID

Polysar Limited Essay Example for Free

Polysar Limited Essay Executive Summary This report seeks to explain the key differences between the NASA (North American South American) and EROW (Europe and rest of world) sales performance over the past nine months. There are several reasons causing the sales performance figures currently stemming from NASA to be incomparable with the EROW numbers, including the current practice of transferring large quantities of regular butyl rubber from the Sarnia to the Antwerp production facilities. As Polysar operates globally, it is also important to consider certain international aspects and specific risks. These include, foreign currency exchange fluctuations, potentially creating gains or losses, as well as international taxes and tariffs. The decisions made regarding allocation of profits between the two geographic centers will directly impact the taxes paid in either location. ADD ON WITH SPECIFICS Introduction A high-level overview of Polysar Limited provides an all-encompassing image of the nature of this case, necessary to later effectively focus in on specific financial details and problems. Polysar is Canada’s largest chemical company, with the North American production facility located in Sarnia Ontario. The company splits into 3 main groups including petrochemicals, diversified products, and rubber, of which the latter is the largest representing 46% of sales. This rubber division is the core of the report, as its success is vital to Polysar. The rubber division is split into two geographic centers, in Sarnia Ontario and Antwerp Belgium respectively. (See Appendix 1 for graphical representation). Both geographic centers produce both regular butyl and halobutyl rubbers. In 1985, Sarnia opened a second production facility that has not yet reached capacity. By comparison, Antwerp has only one facility operating at full capacity and still unable to meet demand for regular butyl rubber. To cope with this, the Sarnia transfers large quantities of its production to Antwerp at cost. The inability of the Sarnia facility to earn a profit from these transferred units represents one of the main causes of concern regarding sales performance figures. In order to correctly and efficiently asses the current situation, we will be reviewing a number of criteria, and from there introduce and analyze several alternatives presented by these assessments. Further Recommendations Transfer Pricing As you are aware, the NASA segment is currently charging EROW for the butyl rubber being transferred in order to meet the European demand. This charge is currently calculated on the basis of NASA’s cost. This is only one of three possible approaches that are used to set to transfer prices internally within Polysar Limited. The three options that may be considered are: 1. Set transfer prices at cost 2. Set transfer prices at a negotiated mutually agreed upon level 3. Set transfer prices at the market value  Currently, as the first option is implemented, this is causing the two major problems. The first is in regards to the product mix produced within the Sarnia production facilities. As no profit is recorded for the units that are transferred, the product mix may be decided on a sub-optimal basis. Our team recommends further investigation to determine the necessary information as to if the costs to produce the halobutyl and butyl rubbers within both NASA and EROW. This could lead to decisions of specialization in the Sarnia plants or Antwerp plant for one type of rubber produced if cost savings for that product line is higher than transportation costs of shipping to the other facility. Additionally, another problem being experienced through the current transfer pricing approach is that the NASA does not show any profit on the Polysar internal transfer of rubber. Consequently, the EROW segment may record this profit without the same having the additional fixed costs pertaining to the costly initial investment of the second Sarnia plant amounting $550 million and the associated depreciation. This leads to an unfair representation of profitability for the two cost centers. In terms of which to use for Polysar Limited’s Rubber Segment, setting prices at cost hereby benefits the EROW center, whereas using market price would benefit the NASA segment. This is because then NASA is recording revenue for the units transferred, whereas EROW will not, (provided that the prices in both markets are similar – international arbitrage). With Polysar’s company wide profitability in mind, as well as spirit of fairness in representation for both segments using a de-centralized approach, our recommendation is the use of negotiated transfer pricing. This occurs when the NASA and EROW segments collaborate to agree on a selling/purchasing price for the internationally transferred butyl supply. Implementing this will cause both segments to have better information of the costs and benefits associated with the transfer. To narrow down on what this transfer price should specifically be, a range of acceptable transfer prices will provide an estimate.  As this is an international transfer, there are even more considerations that become relevant. For example, the corporate tax rate applied in North American versus Europe should be considered. Furthermore, management should look specifically into duties, tariffs, foreign exchange rates and risks, as well as governmental relationships. By this token, charging Antwerp a lower transfer price will result in fewer Custom Duty payments as the rubber crosses borders. Flexible Versus Static Budgetary Systems Currently Polysar employs a static budget system for their budgeted level of rubber sales. However, if more butyl or halobutyl rubber is produced and then sold these will cause a variance as composed to budgeted figures. For  example, variable costs will go up, however this may simply be in direct correlation to the increased rubber produced. It is important to be able to analyze if variances are based on volume or cost differences. By tracing the cost variances more closely after implementing this flexible budget system, a better evaluation of management’s performance may be achieved. This can be directly used when considering compensation for managers. INSERT NUMBERS. Employee Compensation Plan Polysar uses the participative budgetary system, which is directly linked to employee compensation. Although this bottom-up approach to budgeting allows for accurate estimates due to managers with specific rubber cost knowledge being involved, it can cause a conflict of interest that may be costly. It is essential, and highly recommended that the NASA rubber division establish a budgetary committee to review the estimates made to ensure the lower level management has not added in budgetary slack intentionally in an effort to achieve their compensation figures based on meeting these targets. However, even the top management currently possesses a huge conflict of interest influencing them in the direction of allowing for budgetary slack as their compensation is up to 50% for both meeting divisional profits, as well as exceeding corporate profit targets. These targets can clearly be met, if costs have been artificially manipulated to be higher than expected. As it is improbable to find members of the budgetary committee who will be completed impartial and not subject to a bonus on the premise of meeting profit targets, responsible accounting should be implemented. This system holds each manager responsible for the estimate of the individual cost and revenue basis for which he or she was in charge of deciding. This means, he or she is essentially responsible to explain the differences between the actual and budgeted results. In order to negate the previously mentioned conflict of interest, it is recommended to include the amount of variance in a manager’s estimate in the calculate of compensation, hereby eliminated large bonuses if the original estimate was not within a certain range of the actual value (extra-ordinary occurrences excluded). Hedging of Risk The nature of the Polysar’s business contains a certain degree of  specialized risk. First and foremost, operating internationally in various currency zones contributes to foreign exchange risk. This can be hedged through capital markets, resulting in lowering risk for the corporation. Also, as there is a great degree of risk for the variable costs of production in relation to the oil, it is imperative to hedge this risk as well. It is very possible to hedge market commodity price risks through capital markets or advance purchase of these oil inputs. This can provide more stability for Polysar Limited as a whole, particularly the key rubber division. Capacity Analysis Appendices Appendix 1 Polysar Rubber

Utopia Essays -- Utopic Society Social Issues Essays

Utopia In the year 1515, a book in Latin text was published which became the most significant and controversial text ever written in the field of political science. Entitled, ‘DE OPTIMO REIPUBLICATE STATU DEQUE NOVA INSULA UTOPIA, clarissimi disertissimique viri THOMAE MORI inclutae civitatis Londinensis civis et Vicecomitis’, translated into English would read, ‘ON THE BEST STATE OF A COMMONWEALTH AND ON THE NEW ISLAND OF UTOPIA, by the Most Distinguished and Eloquent Author THOMAS MORE Citizen and Undersheriff of the Famous City of London.’. Utopia (Latin: no-place) is a society of great planning and capability. A community where individuals compromised their rights for the good of the collective and focused on a communal goal. These ideals of an infinitely capable and cooperative. Utopic society have captured the imagination of the greatest minds throughout the centuries. One may find the origin of Utopian thoughts in the Republic and Law conceived by Plato and in The Nicomachean Ethics and Politics created by Aristotle. The two individuals are the founding fathers of western philosophy, and their works are the basis of the western political science. Despite the thoughts on a planned society that preceded More in the field of Utopic philosophy, the first complete Utopia was credited to More and it became the pinnacle of Renaissance humanist thought. In the book, Utopia, More employed the fictional character Ralpheal Hythloday to bring a practical Utopia to the readers. The travelogue of the Island of Utopia from Hythlod ay would act as the model of many Eutopias (Latin: happy-place) and dystopias (Latin: opposite-place) created from a variety of interpretations by authors such as Karl Marx, revolutionist, and H.G We... ...niversity Library Online. Nov 1996. Eurich, Nell. Science in Utopia: A Might Design. Massachusetts: Harvard University Press, 1967 Fox, Alistair. Utopia: An Elusive Vision. New York: Twayne Publishers, 1993 Hertzler, Joyce Oramel Ph.D. The History of Utopian Thought. New York: The MacMillan Copany, 1926 Kateb, George. Utopia and its Enemies. London: The Free Press of Glencoe, 1963 Logan, George M., Adams, Robert M., Miller, Clarence H. Utopia: Thomas More: Latin Text and English Translation. New York: Cambridge University Press, 1995 Logan, George M., Adams, Robert M. Utopia: More. Cambridge: Cambridge University Press, 1988 Olin, John C. Interpreting Thomas More’s Utopia. New York: Fordham university Press, 1989 Russell, Frances Theresa. Touring Utopia: The Realm of Constructive Humanism. New York: The Vail-ballou Press, 1932

Deviance, Labeling Theory, Secondary Labeling and their Effects On Society

Deviance can be defined as anything that flouts social norms and values. As an example we can take the Ten Commandments, that other than being a religious document is also a set of regulations to assist in creating a comfortable social climate for all people in a social environment. Simple laws such as not to steal, commit adultery, murder or abuse, are set in order to make sure that all involved are protected from possible harm. When one individual decides to break these regulations the balance is out of kilter.In this essay we will define and explain the terms: deviance, secondary deviance and labeling theory and attempt to ascertain their importance and effects within a social stratum. Deviance is, as mentioned above, a conscious disregard for the norms and values specifically designed to protect the public. Deviance is often seen in terms of juvenile delinquents who by means of deliberate or forced action break the laws that protect the public or community. Deviance takes its for m in a number of ways that are socially relevant such as drug abuse, rape, murder, theft and armed robbery.The father of labeling theory, Howard Becker believed, however, that sufficient rehabilitation of said criminals leads to another set of problems altogether. â€Å"Being a â€Å"criminal† becomes a person's master status. It controls the way they are identified in public. Others do not consider their other statuses — that of spouse, parent, or worker — only that they are first and foremost a criminal. † In this instance, as Becker believes the identity of the person becomes that of a criminal immediately after they are found guilty and have a criminal record.The person therefore undergoes an identity change and a moral crisis. The concept of self becomes divided by the Me and I being shifted from an integrated whole, to two very different people. One person is the ‘inherent good’ and one is the ‘public bad’, yet they are the same person. If one looks at crimes such as gang violence, one sees a specific stigma, one of fear by the public and another of status by those involved. The need to belong becomes greater than the need to be right. Those that grow up without an effective social purpose (ie.Those that do not have parents or grow up in inefficient parental guidance) search for meaning elsewhere. Those that are not seen as acceptable by their general environment will almost certainly find acceptance in a gang or crime syndicate. This is because it grants them some degree of importance and power. These individuals derive power out of others fear. In terms of other abuses of status, rape is a particularly devastating form of deviance where debate surrounding public labelling can be touchy to say the least.A crime of this nature, regardless of the age of the perpetrator is one that is on the increase today. Theoretically, justice should seek to curb violent and deviant behaviour, but as Becker believes, it often undermines the rehabilitation process because once the individual has been labelled as a criminal they tend to be seen as such years after the punishment has been served and inhibits their ability to earn a decent, respectable income once they have left prison. It makes sense that when a convicted criminal applies for a job after they have served their sentence, the label of ‘criminal’ is already recorded.Naturally, the prospective employer is dubious as to whether to employ them or not. In relationships too, it becomes difficult for a spouse, friend or family member to trust the person again, leaving the convict alone and jobless. There is an immediate loss of self esteem, social concept, self-concept and value to society. Becker and his fellow symbolic interactionists believe that this is a self-fulfilling prophecy which is nearly impossible to break. More importantly, is the consequence of this labelling.As an example, we could use 11 September 2001, otherw ise known worldwide as Ground Zero, to illustrate a social problem such as labelling is responsible for. After the Twin Towers bombing, it became known that the perpetrators were Muslim fundamentalists and possible al-Qa’ida insurgents. Once this became known, Muslim mean were searched at airports and appeared to be discriminated against by general public. This is neither party’s fault in the end, as fear is a defence mechanism that the public drew up in order to protect themselves from further threat.Also apparent though, is that not all Muslims are potential mass murders or are genocidal. The same becomes apparent on another macro-level with the Germans and Adlof Hitler. That not every German is a Nazi may momentarily have escape some families of victims. The real problem, however with labelling of deviants, is that since they are unable to regain social status and unable acquire employment, they are forced back into deviant behaviour. This is termed secondary devian ce. The self-fulfilling prophecy as mentioned before becomes apparent.With no job or social support, theft seems to be the first port of call in order to survive. In order to do this, the person may be forced to join another gang and the snowball starts to roll. It is extremely difficult to re-integrate a criminal with a record back into society, so where does the answer lie. If it were possible to change the attitudes of the general public, it could be the difference between an integrated society and a dysfunctional one. Unfortunately, there is no guarantee that the individual will choose to keep their name clear after they are released.In conclusion it can be seen that deviance, secondary deviance and labelling are all integral parts of societal functioning, but don’t necessarily yield any solution to the growing trend of deviant behaviour among juvenile delinquents. The process remains as follows: due to some fate of upbringing the person in initiated into a deviant form o f behaviour; they are labelled delinquents, criminals and rehabilitants; they are unable to change their status due to criminal record, so they revert to deviant behaviour in order to survive. It would seem that the only appropriate solution or cure for this deviant culture, lies in the upbringing.

Meaning of life †Religion Essay

In my opinion, there is no specific meaning of life. There also is a part of me that thinks that life really doesn’t have a meaning at all. But, since I have to try to define life, I would have to say it’s a combination of things in your life that you are living for, or the purpose of you being on this earth. Everyone most likely has a different purpose for being alive. Whether it is family, school, or your career; those things have a lot of impact on your life and also decisions that you make throughout life. In our society, many families instill faith and morals early into their children’s lives by continuing traditions or practices of religious faith. The idea of faith and moral beliefs are instilled in a person by attending or participating in church activities and reading the Bible or other religious texts. When there is a sound moral foundation in a person’s life it may give them the motivation through faith to build a sound structure for their life or to achieve personal goals. Simply put, a person may believe through faith that it is possible to achieve an education, start a family, or to have a successful business or career because of their foundation in faith. The reason why I somewhat think that life really doesn’t have a meaning, is because no matter what anyone does or how well or righteous someone lives their life, in the end they still die. What happens after that? Nothing, you never come back nor will you have any recollection of what went on during your lifetime here on earth. A person can bust their behind in working doing good for the community and everything else and in the end you still end up in the same place as everyone else, good people or bad people, you die. Another reason why I believe life doesn’t have a meaning is because all of the people in this world have to suffer, they still go through pain, they have to watch loved ones die, they still have to go through heartache, and rough times. Being poor, homeless, and not having food for as single meal in the day. Where is the meaning in life when people have to wake up hungry or worry about where they will lay their head that night? I’d say there is none when you look at it from that perspective. In my opinion, the meaning of life is too complex for the human brain to comprehend. People tend to say that they know what the meaning of life is, but who really knows the answer. There are various opinions and schools of thought, however, most people can never and will never reach a clear understanding of what the meaning of life is. If there is meaning in life at all, then there must be meaning in suffering. †? Viktor E. Frankl. Frankl could not have said this quote any better, most people can say that they have found meaning in their life but at the same time, there are some people wondering if the only reason they are on this earth is to suffer on a daily basis throughout their entire lives.

Lubricating Oil Extraction Methods

Lubricating Oil Extraction Methods Introduction The extraction of lubricating oils from crude oil is a multistep procedure as mentioned earlier in the paper (Speight, 1980, p.71). The reason behind this is the inability to achieve constant liquid phases as certain temperatures. For that matter, single stage extraction of lubricating oils is difficult.Advertising We will write a custom research paper sample on Lubricating Oil Extraction Methods specifically for you for only $16.05 $11/page Learn More In the ancient times, the extraction process was single stage thus giving a product with many undesirable compounds, which could be termed as impurities. This is what led to the invention of the solvent extraction method, which produces high yield of the lubricating oil. Nevertheless, the solvents have been used in the multi-stage extraction process to dissolve the crude oil and make it easy to get sufficient yields of lubricating oils among other products such as asphalt, gasoline, and gases just to mention a few. In solvent extraction, phenol, NMP (N-methyl-2-pyrrolidone), and furfural are the preferred solvents given their high yields of the lubricating oils from crude oil. In fact, research conducted indicates that in solvent extraction, the yield is normally as high as 70-80 per cent of the total input. In this extraction, there are also significant quantities of waste materials. When using solvents to extract lubricating oils, a single type of solvent or a combination of two solvents could be used. Research has shown that the yield from a combination of two solvents is greater than that from a one type of solvent. Nevertheless, given the negative health and environmental effects of phenol, furfural is the most preferred solvent, which is mostly combined with NMP (N-methyl-2-pyrrolidone). This paper is therefore an in-depth analysis of the extraction of lubricating oils by looking at the methods of extraction, description of processes, purpose of extraction and new deve lopments in lubricating oil extraction with emphasis on furfural extraction method. Methods used to extract oil The extraction of lubricating oils is highly dependent on the solvents used. Several methods can be used to extract lubricating oils after they have passed the other stages of separation. The commonly used method of lube oil extraction entails the use of solvents in the crude oil. These solvents include phenol, NMP (N-methyl-2-pyrrolidone), and furfural just to mention a few. Membrane extraction is also another method that could be used in the extraction of lubricating oil (Sankey, 2009, p.6). Below is a typical chart showing the extraction of lube oil using furfural as a solvent.Advertising Looking for research paper on chemistry? Let's see if we can help you! Get your first paper with 15% OFF Learn More Fig 1. (Speight, 1980, p.89) Phenol Extraction Method This is one of the most recent methods of extracting lubricating oil from crude oil. In thi s method, phenol is used as the refining solvent. Just like in furfural extraction, the phenol is put in the extraction unit to act as a solvent. However, unlike furfural, phenol is easily recovered after the extraction process (Stratford, Moor, and Pokorny, 1933, p.1). Phenol is selective in the derivation of a variety of distillates thus producing lubricating oils of high quality. Phenol is the preferred solvent by many because of its non-reactive characteristic as well as because it does not decompose in oil during the extraction process unlike other solvents. Secondly, phenol mixes with oil at high temperatures of about 100-200F, which is similar to the distillation temperature (Stratford, Moor, and Pokorny, 1933, p.1). This means that the extraction of lubricating oil with phenol is undertaken at a lower cost since less energy is required. In addition, it is less labour intensive and can be carried out by even three men. However, given the effects that phenol has on the health of human beings as well as the environment, it is rarely used as a solvent for extracting lubricating oil. Furfural extraction method In extracting lubricating oil, furfural is used to reduce the aromatic content of vacuum distillates. The removal of hydrocarbons from vacuum distillates is done in order to improve the lubricating properties of the oil. Once the crude oil residue is obtained after the distillation process, it is undergoes a further distillation process under a vacuum.Advertising We will write a custom research paper sample on Lubricating Oil Extraction Methods specifically for you for only $16.05 $11/page Learn More Here, the crude oil is becomes cuts of lubricating oil that are simultaneously obtained at different temperatures (Sankey, 2009, p.6). â€Å"The commonly obtained raw cuts are; the spindle distillate (SPD); the Light neutral distillate (LND); the medium neutral distillate (MND); the heavy neutral distillate (HND) and the bright stock distillate (BSD)† (Sankey, 2009, p.4). For high quality extraction of aromatics from the mixture, it is important that a solvent with the right properties be used. This solvent should be able to create two phases of the liquid as well as have the ability to prevent oil from getting lost. Furfural extraction Purpose Furfural is preferred as a solvent in lube oil extraction because of its ability to select aromatic compounds thus increasing the rate of reaction. In addition to this, furfural can be used in vacuum distillates of different viscosities. Unlike other solvents, furfural is environmental friendly and causes less harm to the health of human beings. In addition to this, furfural can be applied to a wide range of raw materials. This makes it a better solvent than the rest. Its ability to form emulsions is also low hence making it easy to be separated from oil. Furfural is also preferred for lube oil extraction since its raffinate extract is of higher yields compare d to the rest. Process description The process of extracting lubricating oil suing furfural as a solvent normally takes place in a column that is fitted with rotating plates and sieves. It is normally a process with several stages, which can be listed as: Preparation of the raw material through drying and air removal Solvent addition Separation of lube oil and solvent In furfural extraction, the first step entails having the distillate obtained from the distillation process dried. After drying, it undergoes deaeration to remove air in the distillate. This is important because any traces of air and moisture in the distillate would affect the extraction process hence the quality of lubricating oil. Air is known to oxidize furfural; hence, it has to be removed to ensure high quality and yield of the lubricating oil. Once the distillate is free of air and moisture, furfural is added in the column and the rotating plates facilitate mixing. The ability of the solvent to dissolve the cru de oil is important in determining the ratio of oil to solvent. In most cases, the ability of a solvent to dissolve oil increases with rise in temperature and decreases with a fall in temperature.Advertising Looking for research paper on chemistry? Let's see if we can help you! Get your first paper with 15% OFF Learn More Thus, for the extractor to perform well, it is endorsed with perforated disks that keep rotating. This creates a column known as the rotating disk column (RDC). The intensity of rotation depends on the flow of the distillate as well as that of the solvent. â€Å"In order to increase extraction degree, i.e. improve separation of the raffinate from the extract phase, cold reflux of the extract phase is added to the extractor† (Sankey, 2009, p.4). The extract phase is then allowed to settle and later move to the flash column. The flash column plays the role of drying the furfural leaving the extract free from solvent. Upon cooling, furfural is removed and taken to a separator after which the extract is stored. The next stage involves taking back the furfural to the raffinate phase. Later, the raffinate phase undergoes dewaxing, a process that entails production of base oil and bitumen among other products. Process configuration The furfural extraction process is configured in su ch a way that is able to process up to four feed stocks, which include heavy neutral, light neutral, spindle oils and intermediate neutral. These can be tabulated as below: Stock. Rate for HVI operation. Rate for MVI operation 1. Spindle Oil 37 m^hr. 33 m^hr. 2. Light neutral 32-6 n^/hr. 33 m3/hr. 3. Intermediate neutral 27 m^hr. 36 mi/hr. 4. Heavy neutral 23 m^hr. 33 ms/hr. Table. 1 (Sankey, 2009, p.6) The extract is normally passed through various ultrafine filters to remove impurities. Aromatics are one such impurity and it contains six-carbon rings that affect the viscosity of the lube oil† (Fuels, Lubricants, and Coolants, 1992, p.92). Since the aromatics are highly soluble, it makes them easier to be removed through solvent extraction. In order to enable the lube oil to endure low temperatures and have other desirable qualities, it other additives are mixed with it (Fuels, Lubricants, and Coolants, 1992). An assessment of the flash, viscosity, specific g ravity, fire points and colour is done. Upon acquisition of the desirable standards, the oil is packaged and distributed (Fuels, Lubricants, and Coolants, 1992). Extraction of furfural from the raffinate is made by heating it thus leaving the extract. Below is a diagram showing the configured process of furfural extraction of lubricating oil. Fig 2. (Mortier et al., 2010, p.67) Equipment Several equipments and machines are used in furfural extraction of lubricating oil. Some of which include; Extraction column: In this column, the solvent is fed into the crude oil and allowed to dissolve. This equipment contains an in-feed pipe from the vacuum distillatory and an out-feed pipe to the de-waxing equipment. Temperatures in this equipment are relatively high in order to increase the miscibility of the solvent with the lubricating oil. Solvent recovery system: It is made up of two fractionating units together with a surge drum. The fractionators labelled as A and B serves the purpose o f separating water from the furfural moisture, in this case the raffinate. The surge drum on the other hand, plays the role of drying hence facilitating complete removal of furfural from the extract. Process variables The process variables in the extraction of lubricating oil are the temperature used, solvent to oil ratio, and the stages of extraction that the oil undergoes. Temperature As mentioned earlier in the paper, the temperatures used in the solvent extraction unit are significantly high to increase the surface areas of reaction between the solvent and the oil. Thus, low temperatures are bound to inhibit reaction hence poor extraction of the lubricating oil. Ratio of solvent to oil The ratio of solvent to oil is also crucial as it significantly determines the reaction rate of the oil with solvent hence affecting extraction. Number of stages Finally yet importantly, the number of stages of extraction is also important in determining the quality of the final product of lubric ating oil. The more the stages, the better the quality of the lubricating oil produced. New development in lubricating oil New developments in extraction of lubricating oils centre on the source of the lubricating oil and the methods of extracting it. Currently only furfural and phenol extraction methods have been in use. Canadian engineers discovered the EXOL N extraction method. The new Exol N solvent is said to have better lube extraction selectivity than both phenol and furfural; better chemical and thermal stability than furfural; and it is safer then phenols (Ferris, Birkhimer, and Henderson, 1931, p. 754). Tests have proved that use of the solvent increases the yield of lubricating oil and save the cost of energy. The Residuum oil Supercritical Extraction process is a new solvent extraction method said to be efficient for recovering lubricating oil of higher value from the crude oil residue. It is based on the use of a paraffinic solvent, which can be recycled and recovered. The advantages of the residuum oil super critical method is that it saves on the energy and reduces the cost of investment on equipment. The new development, which has stirred controversy in scientific and environmental circles, is extraction of oils from algae. Experiments have proved that lubricating oils and biodiesel oils can be extracted from algae. In that case, algae is selectively harvested and used in oil extraction. â€Å"The chemical methods are categorized into; supercritical fluid extraction method; soxhlet extraction method; and Hexane solvent extraction method† (Ferris, Birkhimer, and Henderson, 1931, p. 755). Mechanical methods include Ultrasonic-assisted extraction and Expeller/ Expression press method (Ferris, Birkhimer, and Henderson, 1931, p. 756). The extraction methods generate more controversy as mechanical methods would require the energy intensive process of drying the algae while the use of chemical solvents poses both health and safety dangers. Neve rtheless, given the exploitation of natural oil resources such as crude oil, it is evident that soon or later the synthetic-based lubricating oils will be in high demand given the non-renewable feature of natural sources. Conclusion From the above discussion on extraction of lubricating oil, it can be deduced that it is quite cumbersome to come up with a product that will protect the wear and tear of machines. It has also been noted that of the three commonly used solvents, furfural is the most preferred given its good qualities and ability to give high yields of the lubricating oil. This quality is also significantly influenced by three variables mentioned in the paper, which include process temperature, the ratio of solvent to oil and the extraction stages. By putting all the aforementioned factors in mind, the lubricating oil is of high quality thus perfectly playing its functional role. Given the high demand of high quality lubricating oil, the manufacturers have resorted to way s that could ensure that they produce high quality lubricating oil at reasonable costs. One of these ways is by using furfural solvent under the discussed optimum conditions. Reference List Ferris, S., Birkhimer, E., and Henderson, L. (1931). Solvent Extraction of Lubricating Oils. Industrial Engineering Chemistry 23(7), 753-761. Fuels, Lubricants, and Coolants. (1992). Canada: Deere Company Service Publications. Mortier, R, et al. (2010). Chemistry and Technology of Lubricants. New York: Springer Sankey, B. (2009). A new lubricants extraction process. The Canadian Journal of  Chemical Engineering 63(1), 3-7. Speight, J. (1980). The Chemistry and Terminology of Petroleum. New York: Marcel Dekker. Stratford, R., Moor, H., and Pokorny, O. (1933). Phenol as a selective solvent in refining  of lubricating oils. Retrieved from https://www.onepetro.org/

The House of Capulet in Romeo and Juliet

The House of Capulet in Romeo and Juliet The House of Capulet in Romeo and Juliet is one of fair Verona’s two feuding families- the other being the House of Montague. Capulet’s daughter, Juliet, falls in love with Romeo, the son of Montague and they elope, much to the anger of their respective families. Heres a look at the major players in the House of Capulet. Capulet (Juliets Father) Hes head of the Capulet clan, married to Lady Capulet and father to Juliet. Capulet is locked in an on-going, bitter and unexplained dispute with the Montague family. Capulet is very much in charge and demands respect. He is prone to rage if he does not get his own way. Capulet loves his daughter very much but is out of touch with her hopes and dreams. He believes that she should marry Paris. Lady Capulet (Juliets Mother) Married to Capulet and mother to Juliet, Lady Capulet appears distanced from her daughter. It is interesting to note that Juliet receives most of her moral guidance and affection from the Nurse. Lady Capulet, who also married young, believes it was high time Juliet was married off and chooses Paris as the appropriate candidate. But when Juliet declines to marry Paris, Lady Capulet turns on her: Talk not to me, for Ill not speak a word; do as thou wilt, for I am done with thee. Lady Capulet takes the news of her nephew Tybalts death extremely hard, going so far as to wish death on his killer, Romeo. Juliet Capulet Our female protagonist is 13 years old and about to be married to Paris. However, Juliet soon stumbles upon her fate when she meets Romeo,  and instantly falls in love with him, despite him being the son of her family’s enemy. Over the course of the play, Juliet matures, making the decision to abandon her family to be with Romeo. But like most women in Shakespeares plays, Juliet has little personal freedom. Tybalt Lady Capulet’s nephew and Juliet’s cousin, Tybalt is antagonistic and has a deep hatred of the Montagues. He has a short temper and is quick to draw his sword when his ego is in danger of being damaged. Tybalt has a vindictive nature and is feared. When Romeo kills him, this is a major turning point in the play. Juliet’s Nurse A loyal maternal figure and friend to Juliet, the Nurse provides moral guidance and practical advice. She knows Juliet better than anyone else and provides comic relief in the play with her bawdy sense of humor. The Nurse has a disagreement with Juliet near the end of the play which demonstrates her lack of understanding about the intensity of Juliet’s feelings about love and about Romeo. Servants of the Capulets Samson: After the Chorus, he is the first character to speak and establishes the conflict between the Capulets and the Montagues. Gregory: Along with Samson, he discusses the tension in the Montague household. Peter: Illiterate and a bad singer,  Peter invites guests to the Capulets’ feast and escorts the Nurse to meet with Romeo.

Can we apply Hobbes argument about the state of nature to Essay

Can we apply Hobbes argument about the state of nature to international relations - Essay Example In this regard, the state of nature considers men to be in a competition with each other for resources that include food, for example. As a result, they tend to distrust and fear one another thus instigating a pre-emptive attack due to the quest to maximise their own interests at the expense of other people. On the other hand, difference, emanates from the desire for natural equality and the fear factor that eventually leads to war. On this note, the state of nature suggests that, the alternative option for removing the contributory factors to conflict is to embrace the state by surrendering sovereignty to the Leviathan in order to enjoy security and order. According to Hobbes, the international sphere exists in a form of the state of nature (1985, p.37). This paper explores whether Hobbes argument about the state of nature can apply to international relations. While international relations emphasises a peaceful co-existence between sovereign states, the Hobbesian view focuses on the defensive character of states. This makes it difficult to apply the Hobbesian argument in international relations because; it discards the moral principles that guide the relations among states. Hobbes advances five conditions for the state of nature that includes equality, competition, and the existence of two types of people, non- universal egoism and uncertainty. With regard to equality, Hobbesian view reiterates that people possess almost equal mental and physical capabilities. As a result, those regarded as weak also have enough power either mental or physical to destroy the strongest. The competition caused by scarcity of resources also creates a situation where everyone grapples for the same unlimited resources. The Hobbesian view further associates the scarce resource with power since not everyone can amass power. In this sense, power is often a preserve for a few individuals in the society who tend to maximise it for their own self-interest (Hampton, 1987,