Saturday, August 31, 2019

If the gold standard was in use today, would it hinder economic growth Essay

The gold standard refers to a monetary system in which the unit of account of money will be fixed with the weight of gold. There are many people who argue that the gold standard should be implemented to bring down the inflation. By fixing the supply of money with gold, the government will not be able to issue money without having gold in reserve. However, on the other hand, there are experts who argue that by fixing the supply of money with gold, economic growth will be hindered as the amount of gold available on Earth is limited (Mises, 2009). This paper will show that the gold standard will hinder economic growth. I’ll firstly argue that there is a limited amount of gold in this world. Secondly, economic growth is seen as limited. Lastly, the amount of commerce will eventually reach a level equal to the gold holdings by the central bank of the country. Economic growth will be hindered if the gold standard is applied as there is a finite amount of gold in the world. Economic growth requires that there should be sufficient liquidity in the system. By adhering to the gold standard, economic growth will be hindered as to supply more money, the government will first need to buy gold. (Skousen, 1997) Secondly, economic growth is seen to be unlimited. This doesn’t complement with the gold standard, as the amount of gold is limited in the world. If economic growth is to be unlimited, then there must be enough money supply to finance it. The gold standard makes to difficult for governments to issue money, which in fact limits economic growth. (Cagan, 1982) Lastly, if the value of the dollar is limited by the amount of gold, then amount of commerce would reach a level equal to the gold holdings. In order for more money to be issued, the government would have to purchase more gold to back the increase in dollars issued. All the three points written above are influenced by the single factor that the supply is limited, while the demand for gold seems to be unlimited. (Cagan, 1982) Another problem with the gold standard is how to determine what weight of gold will equal to one unit of account. Furthermore, the gold standard can be suicidal for developing economies. Developing economies will need to buy gold to finance their economic growth, which might already be to expensive to buy for them. Currently, these economies are able to finance it through a budget deficit. Moreover, how will the gold standard be able to handle the speed and complexity of today’s financial transactions? Lastly, if the world shifts to a gold standard, then all the governments will need to burn huge amount of fiat money to make sure that the money supply equals to the amount of gold in the economy. Eichengreen & Marc, 1997) In conclusion, I believe that although by adhering to the gold standard the level of inflation will come down. However, the economic growth of a country will be hinder. The major reason for this is the limited supply of gold. Furthermore, if the gold standard is implemented the prices of gold will shoot up, making it more difficult for developing economies to grow up. Las tly, the government will need to burn huge amounts of fiat money to make sure that the there is no extra money in the economy.

Friday, August 30, 2019

African American Culture Essay

African American culture in the United States includes the various cultural traditions of African ethnic groups. It is both part of and distinct from American culture. The U. S. Census Bureau defines African Americans as â€Å"people having origins in any of the Black race groups of Africa. â€Å"[1] African American culture is indigenous to the descendants in the U. S. of survivors of the Middle Passage. It is rooted in Africa and is an amalgam of chiefly sub-Saharan African and Sahelean cultures. Although slavery greatly restricted the ability of Africans in America to practice their cultural traditions, many practices, values and beliefs survived and over time have incorporated elements of European American culture. There are even certain facets of African American culture that were brought into being or made more prominent as a result of slavery; an example of this is how drumming became used as a means of communication and establishing a community identity during that time. The result is a dynamic, creative culture that has had and continues to have a profound impact on mainstream American culture and on world culture as well. After Emancipation, these uniquely African American traditions continued to grow. They developed into distinctive traditions in music, art, literature, religion, food, holidays, amongst others. While for some time sociologists, such as Gunnar Myrdal and Patrick Moynihan, believed that African Americans had lost most cultural ties with Africa, anthropological field research by Melville Hersovits and others demonstrated that there is a continuum of African traditions among Africans in the New World from the West Indies to the United States. The greatest influence of African cultural practices on European cultures is found below the Mason-Dixon in the southeastern United States, especially in the Carolinas among the Gullah people and in Louisiana. African American culture often developed separately from mainstream American culture because of African Americans’ desire to practice their own traditions, as well as the persistence of racial segregation in America. Consequently African American culture has become a significant part of American culture and yet, at the same time, remains a distinct culture apart from it. History From the earliest days of slavery, slave owners sought to exercise control over their slaves by attempting to strip them of their African culture. The physical isolation and societal marginalization of African slaves and, later, of their free progeny, however, actually facilitated the retention of significant elements of traditional culture among Africans in the New World generally, and in the U. S. in particular. Slave owners deliberately tried to repress political organization in order to deal with the many slave rebellions that took place in the southern United States, Brazil, Haiti, and the Dutch Guyanas. African cultures,slavery,slave rebellions,and the civil rights movements(circa 1800s-160s)have shaped African American religious, familial, political and economic behaviors. The imprint of Africa is evident in myriad ways, in politics, economics, language, music, hairstyles, fashion, dance, religion and worldview, and food preparation methods. In the United States, the very legislation that was designed to strip slaves of culture and deny them education served in many ways to strengthen it. In turn, African American culture has had a pervasive, transformative impact on myriad elements of mainstream American culture, among them language, music, dance, religion, cuisine, and agriculture. This process of mutual creative exchange is called creolization. Over time, the culture of African slaves and their descendants has been ubiquitous in its impact on not only the dominant American culture, but on world culture as well. Oral tradition Slaveholders limited or prohibited education of enslaved African Americans because they believed it might lead to revolts or escape plans. Hence, African-based oral traditions became the primary means of preserving history, morals, and other cultural information among the people. This was consistent with the griot practices of oral history in many African and other cultures that did not rely on the written word. Many of these cultural elements have been passed from generation to generation through storytelling. The folktales provided African Americans the opportunity to inspire and educate one another. Examples of African American folktales include trickster tales of Br’er Rabbit and heroic tales such as that of John Henry. The Uncle Remus stories by Joel Chandler Harris helped to bring African American folk tales into mainstream adoption. Harris did not appreciate the complexity of the stories nor their potential for a lasting impact on society. Characteristics of the African American oral tradition present themselves in a number of forms. African American preachers tend to perform rather than simply speak. The emotion of the subject is carried through the speaker’s tone, volume, and movement, which tend to mirror the rising action, climax, and descending action of the sermon. Often song, dance, verse and structured pauses are placed throughout the sermon. Techniques such as call-and-response are used to bring the audience into the presentation. In direct contrast to recent tradition in other American and Western cultures, it is an acceptable and common audience reaction to interrupt and affirm the speaker. Spoken word is another example of how the African American oral tradition influences modern American popular culture. Spoken word artists employ the same techniques as African American preachers including movement, rhythm, and audience participation. Rap music from the 1980’s and beyond has been seen as an extension of oral culture. Harlem Renaissance [pic] Zora Neale Hurston was a prominent literary figure during the Harlem Renaissance. Main article: Harlem Renaissance The first major public recognition of African American culture occurred during the Harlem Renaissance. In the 1920s and 1930s, African American music, literature, and art gained wide notice. Authors such as Zora Neale Hurston and Nella Larsen and poets such as Langston Hughes, Claude McKay, and Countee Cullen wrote works describing the African American experience. Jazz, swing, blues and other musical forms entered American popular music. African American artists such as William H. Johnson and Palmer Hayden created unique works of art featuring African Americans. The Harlem Renaissance was also a time of increased political involvement for African Americans. Among the notable African American political movements founded in the early 20th century are the United Negro Improvement Association and the National Association for the Advancement of Colored People. The Nation of Islam, a notable Islamic religious movement, also began in the early 1930s. African American cultural movement The Black Power movement of the 1960s and 1970s followed in the wake of the non-violent American Civil Rights Movement. The movement promoted racial pride and ethnic cohesion in contrast to the focus on integration of the Civil Rights Movement, and adopted a more militant posture in the face of racism. It also inspired a new renaissance in African American literary and artistic expression generally referred to as the African American or â€Å"Black Arts Movement. † The works of popular recording artists such as Nina Simone (Young, Gifted and Black) and The Impressions (Keep On Pushin’), as well as the poetry, fine arts and literature of the time, shaped and reflected the growing racial and political consciousness. Among the most prominent writers of the African American Arts Movement were poet Nikki Giovanni; poet and publisher Don L. Lee, who later became known as Haki Madhubuti; poet and playwright Leroi Jones, later known as Amiri Baraka; and Sonia Sanchez. Other influential writers were Ed Bullins, Dudley Randall, Mari Evans, June Jordan, Larry Neal and Ahmos Zu-Bolton. Another major aspect of the African American Arts Movement was the infusion of the African aesthetic, a return to a collective cultural sensibility and ethnic pride that was much in evidence during the Harlem Renaissance and in the celebration of Negritude among the artistic and literary circles in the U. S. , Caribbean and the African continent nearly four decades earlier: the idea that â€Å"black is beautiful. † During this time, there was a resurgence of interest in, and an embrace of, elements of African culture within African American culture that had been suppressed or devalued to conform to Eurocentric America. Natural hairstyles, such as the afro, and African clothing, such as the dashiki, gained popularity. More importantly, the African American aesthetic encouraged personal pride and political awareness among African Americans. Music [pic] Men playing the djembe, a traditional West African drum adopted into African American and American culture. The bags and the clothing of the man on the right are printed with traditional kente cloth patterns. African American music is rooted in the typically polyrhythmic music of the ethnic groups of Africa, specifically those in the Western, Sahelean, and Sub-Saharan regions. African oral traditions, nurtured in slavery, encouraged the use of music to pass on history, teach lessons, ease suffering, and relay messages. The African pedigree of African American music is evident in some common elements: call and response, syncopation, percussion, improvisation, swung notes, blue notes, the use of falsetto, melisma, and complex multi-part harmony. During slavery, Africans in America blended traditional European hymns with African elements to create spirituals. Many African Americans sing Lift Ev’ry Voice and Sing in addition to the American national anthem, The Star-Spangled Banner, or in lieu of it. Written by James Weldon Johnson and John Rosamond Johnson in 1900 to be performed for the birthday of Abraham Lincoln, the song was, and continues to be, a popular way for African Americans to recall past struggles and express ethnic solidarity, faith and hope for the future. The song was adopted as the â€Å"Negro National Anthem† by the NAACP in 1919. African American children are taught the song at school, church or by their families. Lift Ev’ry Voice and Sing traditionally is sung immediately following, or instead of, The Star-Spangled Banner at events hosted by African American churches, schools, and other organizations. In the 1800s, as the result of the blackface minstrel show, African American music entered mainstream American society. By the early twentieth century, several musical forms with origins in the African American community had transformed American popular music. Aided by the technological innovations of radio and phonograph records, ragtime, jazz, blues, and swing also became popular overseas, and the 1920s became known as the Jazz Age. The early 20th century also saw the creation of the first African American Broadway shows, films such as King Vidor’s Hallelujah!, and operas such as George Gershwin’s Porgy and Bess. Rock and roll, doo wop, soul, and R&B developed in the mid 20th century. These genres became very popular in white audiences and were influences for other genres such as surf. The dozens, an urban African American tradition of using rhyming slang to put down your enemies (or friends) developed through the smart-ass street jive of the early Seventies into a new form of music. In the South Bronx, the half speaking, half singing rhythmic street talk of ‘rapping’ grew into the hugely successful cultural force known as Hip Hop. Hip Hop would become a multicultural movement. However, it is still important to many African Americans. The African American Cultural Movement of the 1960s and 1970s also fueled the growth of funk and later hip-hop forms such as rap, hip house, new jack swing and go go. African American music has experienced far more widespread acceptance in American popular music in the 21st century than ever before. In addition to continuing to develop newer musical forms, modern artists have also started a rebirth of older genres in the form of genres such as neo soul and modern funk-inspired groups. Dance [pic]. The Cakewalk was the first African American dance to gain widespread popularity in the United States. [pic] African American dance, like other aspects of African American culture, finds its earliest roots in the dances of the hundreds of African ethnic groups that made up African slaves in the Americas as well as influences from European sources in the United States. Dance in the African tradition, and thus in the tradition of slaves, was a part of both every day life and special occasions. Many of these traditions such as get down, ring shouts, and other elements of African body language survive as elements of modern dance. In the 1800s, African American dance began to appear in minstrel shows. These shows often presented African Americans as caricatures for ridicule to large audiences. The first African American dance to become popular with White dancers was the cakewalk in 1891. Later dances to follow in this tradition include the Charleston, the Lindy Hop, and the Jitterbug. During the Harlem Renaissance, all African American Broadway shows such as Shuffle Along helped to establish and legitimize African American dancers. African American dance forms such as tap, a combination of African and European influences, gained widespread popularity thanks to dancers such as Bill Robinson and were used by leading White choreographers who often hired African American dancers. Contemporary African American dance is descended from these earlier forms and also draws influence from African and Caribbean dance forms. Groups such as the Alvin Ailey American Dance Theater have continued to contribute to the growth of this form. Modern popular dance in America is also greatly influenced by African American dance. American popular dance has also drawn many influences from African American dance most notably in the hip hop genre. Art [pic] Sand Dunes at Sunset, Atlantic City by Henry Ossawa Tanner 1859-1937 From its early origins in slave communities, through the end of the twentieth century, African-American art has made a vital contribution to the art of the United States. During the period between the 1600s and the early 1800s, art took the form of small drums, quilts, wrought-iron figures and ceramic vessels in the southern United States. These artifacts have similarities with comparable crafts in West and Central Africa. In contrast, African American artisans like the New England–based engraver Scipio Moorhead and the Baltimore portrait painter Joshua Johnson created art that was conceived in a thoroughly western European fashion. During the 1800s, Harriet Powers made quilts in rural Georgia, United States that are now considered among the finest examples of nineteenth-century Southern quilting. Later in the 20th century, the women of Gee’s Bend developed a distinctive, bold, and sophisticated quilting style based on traditional African American quilts with a geometric simplicity that developed separately but was like that of Amish quilts and modern art. After the American Civil War, museums and galleries began more frequently to display the work of African American artists. Cultural expression in mainstream venues was still limited by the dominant European aesthetic and by racial prejudice. To increase the visibility of their work, many African American artists traveled to Europe where they had greater freedom. It was not until the Harlem Renaissance that more whites began to pay attention to African American art in America. [pic] Kara Walker, Cut, Cut paper and adhesive on wall, Brent Sikkema NYC. During the 1920s, artists such as Raymond Barthe, Aaron Douglas, Augusta Savage, and photographer James Van Der Zee became well known for their work. During the Great Depression, new opportunities arose for these and other African American artists under the WPA. In later years, other programs and institutions, such as the New York City-based Harmon Foundation, helped to foster African American artistic talent. Augusta Savage, Elizabeth Catlett, Lois Mailou Jones, Romare Bearden, Jacob Lawrence and others exhibited in museums and juried art shows, and built reputations and followings for themselves. In the 1950s and 1960s, there were very few widely accepted African American artists. Despite this, The Highwaymen, a loose association of 27 African American artists from Ft. Pierce, Florida, created idyllic, quickly realized images of the Florida landscape and peddled some 50,000 of them from the trunks of their cars. They sold their art directly to the public rather than through galleries and art agents, thus receiving the name â€Å"The Highwaymen†. Rediscovered in the mid-1990s, today they are recognized as an important part of American folk history. Their artwork is widely collected by enthusiasts and original pieces can easily fetch thousands of dollars in auctions and sales. The Black Arts Movement of the 1960s and 1970s was another period of resurgent interest in African American art. During this period, several African-American artists gained national prominence, among them Lou Stovall, Ed Love, Charles White, and Jeff Donaldson. Donaldson and a group of African-American artists formed the Afrocentric collective AFRICOBRA, which remains in existence today. The sculptor Martin Puryear, whose work has been acclaimed for years, is being honored with a 30-year retrospective of his work at the Museum of Modern Art in New York starting November 2007. Notable contemporary African American artists include David Hammons, Eugene J. Martin, Charles Tolliver, and Kara Walker. Literature [pic] Langston Hughes, a notable African American poet of the Harlem Renaissance. African American literature has its roots in the oral traditions of African slaves in America. The slaves used stories and fables in much the same way as they used music. These stories influenced the earliest African American writers and poets in the 18thcentury such as Phillis Wheatley and Olaudah Equiano. These authors reached early high points by telling slave narratives. During the early 20th century Harlem Renaissance, numerous authors and poets, such as Langston Hughes, W. E. B. Dubois, and Booker T. Washington, grappled with how to respond to discrimination in America. Authors during the Civil Rights era, such as Richard Wright, James Baldwin and Gwendolyn Brooks wrote about issues of racial segregation, oppression and other aspects of African American life. This tradition continues today with authors who have been accepted as an integral part of American literature, with works such as Roots: The Saga of an American Family by Alex Haley, The Color Purple by Alice Walker, and Beloved by Nobel Prize-winning Toni Morrison, and series by Octavia Butler and Walter Mosley that have achieved both best-selling and/or award-winning status. Museums The African American Museum Movement emerged during the 1950s and 1960s to preserve the heritage of the African American experience and to ensure its proper interpretation in American history. Museums devoted to African American history are found in many African American neighborhoods. Institutions such as the African American Museum and Library at Oakland and The African American Museum in Cleveland were created by African Americans to teach and investigate cultural history that, until recent decades was primarily preserved trough oral traditions. Language Generations of hardships imposed on the African American community created distinctive language patterns. Slave owners often intentionally mixed people who spoke different African languages to discourage communication in any language other than English. This, combined with prohibitions against education, led to the development of pidgins, simplified mixtures of two or more languages that speakers of different languages could use to communicate. Examples of pidgins that became fully developed languages include Creole, common to Haiti,and Gullah, common to the Sea Islands off the coast of South Carolina and Georgia. African American Vernacular English is a type variety (dialect, ethnolect and sociolect) of the American English language closely associated with the speech of but not exclusive to African Americans. While AAVE is academically considered a legitimate dialect because of its logical structure, some of both Caucasians and African Americans consider it slang or the result of a poor command of Standard American English. Inner city African American children who are isolated by speaking only AAVE have more difficulty with standardized testing and, after school, moving to the mainstream world for work. It is common for many speakers of AAVE to code switch between AAVE and Standard American English depending on the setting. Fashion and aesthetics [pic]. A man weaving kente cloth in Ghana. Attire The cultural explosion of the 1960s saw the incorporation of surviving cultural dress with elements from modern fashion and West African traditional clothing to create a uniquely African American traditional style. Kente cloth is the best known African textile. These festive woven patterns, which exist in numerous varieties, were originally made by the Ashanti and Ewe peoples of Ghana and Togo. Kente fabric also appears in a number of Western style fashions ranging from casual t-shirts to formal bow ties and cummerbunds. Kente strips are often sewn into liturgical and academic robes or worn as stoles. Since the Black Arts Movement, traditional African clothing has been popular amongst African Americans for both formal and informal occasions. Another common aspect of fashion in African American culture involves the appropriate dress for worship in the Black church. It is expected in most churches that an individual should present their best appearance for worship. African American women in particular are known for wearing vibrant dresses and suits. An interpretation of a passage from the Christian Bible, â€Å"†¦every woman who prays or prophesies with her head uncovered dishonors her head†¦ â€Å", has led to the tradition of wearing elaborate Sunday hats, sometimes known as â€Å"crowns. † Hair Hair styling in African American culture is greatly varied. African American hair is typically composed of tightly coiled curls. The predominant styles for women involve the straightening of the hair through the application of heat or chemical processes. These treatments form the base for the most commonly socially acceptable hairstyles in the United States. Alternatively, the predominant and most socially acceptable practice for men is to leave one’s hair natural. Often, as men age and begin to lose their hair, the hair is either closely cropped, or the head is shaved completely free of hair. However, since the 1960s, natural hairstyles, such as the afro, braids, and dreadlocks, have been growing in popularity. Although the association with radical political movements and their vast difference from mainstream Western hairstyles, the styles have not yet attained widespread social acceptance. Maintaining facial hair is more prevalent among African American men than in other male populations in the U. S. In fact, the soul patch is so named because African American men, particularly jazz musicians, popularized the style. The preference for facial hair among African American men is due partly to personal taste, but because they are more prone than other ethnic groups to develop a condition known as pseudofolliculitis barbae, commonly referred to as razor bumps, many prefer not to shave. Body image The European aesthetic and attendant mainstream concepts of beauty are often at odds with the African body form. Because of this, African American women often find themselves under pressure to conform to European standards of beauty. Still, there are individuals and groups who are working towards raising the standing of the African aesthetic among African Americans and internationally as well. This includes efforts toward promoting as models those with clearly defined African features; the mainstreaming of natural hairstyles; and, in women, fuller, more voluptuous body types. Religion While African Americans practice a number of religions, Protestant Christianity is by far the most popular. Additionally, 14% of Muslims in the United States and Canada are African American. Christianity [pic] A river baptism in New Bern, North Carolina near the turn of the 20th century. The religious institutions of African American Christians commonly are referred tocollectively as the black church. During slavery, many slaves were stripped of their African belief systems and typically denied free religious practice. Slaves managed, however, to hang on to some practices by integrating them into Christian worship in secret meetings. These practices, including dance, shouts, African rhythms, and enthusiastic singing, remain a large part of worship in the African American church. African American churches taught that all people were equal in God’s eyes and viewed the doctrine of obedience to one’s master taught in white churches as hypocritical. Instead the African American church focused on the message of equality and hopes for a better future. Before and after emancipation, racial segregation in America prompted the development of organized African American denominations. The first of these was the AME Church founded by Richard Allen in 1787. An African American church is not necessarily a separate denomination. Several predominantly African American churches exist as members of predominantly white denominations. African American churches have served to provide African American people with leadership positions and opportunities to organize that were denied in mainstream American society. Because of this, African American pastors became the bridge between the African American and European American communities and thus played a crucial role in the American Civil Rights Movement. Like many Christians, African American Christians sometimes participate in or attend a Christmas play. Black Nativity by Langston Hughes is a re-telling of the classic Nativity story with gospel music. Productions can be found a African American theaters and churches all over the country. Islam [pic] A member of the Nation of Islam selling merchandise on a city street corner. Despite the popular assumption that the Nation represents all or most African American Muslims, less than 2% are members. Generations before the advent of the Atlantic slave trade, Islam was a thriving religion in West Africa due to its peaceful introduction via the lucrative trans-Saharan trade between prominent tribes in the southern Sahara and the Berbers to the North. In his attesting to this fact the West African scholar Cheikh Anta Diop explained: â€Å"The primary reason for the success of Islam in Black Africa†¦consequently stems from the fact that it was propagated peacefully at first by solitary Arabo-Berber travelers to certain Black kings and notables, who then spread it about them to those under their jurisdiction† Many first-generation slaves were often able to retain their Muslim identity, their descendants were not. Slaves were either forcibly converted to Christianity as was the case in the Catholic lands or were besieged with gross inconviences to their religious practice such as in the case of the Protestant American mainland. In the decades after slavery and particularly during the depression era, Islam reemerged in the form of highly visible and sometimes controversial heterodox movements in the African American community. The first of these of note was the Moorish Science Temple of America, founded by Noble Drew Ali. Ali had a profound influence on Wallace Fard, who later founded the Black nationalist Nation of Islam in 1930. Elijah Muhammad became head of the organization in 1934. Much like Malcolm X, who left the Nation of Islam in 1964, many African American Muslims now follow traditional Islam. A survey by the Council on American-Islamic Relations shows that 30% of Sunni Mosque attendees are African Americans. African American orthodox Muslims are often the victims of stereotypes, most notably the assumption that an African American Muslim is a member of the Nation of Islam. They are often viewed by the uneducated African-American community in general as less authentic than Muslims from the Middle East or South Asia while credibility is less of an issue with immigrant Muslims and Muslim world in general. Other religions. Aside from Christianity and Islam, there are also African Americans who follow Judaism, Buddhism, and a number of other religions. The Black Hebrew Israelites are a collection of African American Jewish religious organizations. Among their varied teachings, they often include that African Americans are descended from the Biblical Hebrews (sometimes with the paradoxical claim that the Jewish people are not). There is a small but growing number of African Americans who participate in African traditional religions, such as Vodou and Santeria or Ifa and diasporic traditions like Rastafarianism. Many of them are immigrants or descendants of immigrants from the Caribbean and South America, where these are practiced. Because of religious practices, such as animal sacrifice, which are no longer common among American religions and are often legally prohibited, these groups may be viewed negatively and are sometimes the victims of harassment. Life events For most African Americans, the observance of life events follows the pattern of mainstream American culture. There are some traditions which are unique to African Americans. Some African Americans have created new rites of passage that are linked to African traditions. Pre-teen and teenage boys and girls take classes to prepare them for adulthood. They are typically taught spirituality, responsibility, and leadership. Most of these programs are modeled after traditional African ceremonies, with the focus largely on embracing African ideologies rather than specific rituals. To this day, some African American couples choose to â€Å"jump the broom† as a part of their wedding ceremony. Although the practice, which can be traced back to Ghana, fell out of favor in the African American community after the end of slavery, it has experienced a slight resurgence in recent years as some couples seek to reaffirm their African heritage. Funeral traditions tend to vary based on a number of factors, including religion and location, but there are a number of commonalities. Probably the most important part of death and dying in the African American culture is the gathering of family and friends. Either in the last days before death or shortly after death, typically any friends and family members that can be reached are notified. This gathering helps to provide spiritual and emotional support, as well as assistance in making decisions and accomplishing everyday tasks. The spirituality of death is very important in African American culture. A member of the clergy or members of the religious community, or both, are typically present with the family through the entire process. Death is often viewed as transitory rather than final. Many services are called homegoings, instead of funerals, based on the belief that the person is going home to the afterlife. The entire end of life process is generally treated as a celebration of life rather than a mourning of loss. This is most notably demonstrated in the New Orleans Jazz Funeral tradition where upbeat music, dancing, and food encourage those gathered to be happy and celebrate the homegoing of a beloved friend. Cuisine [pic] A traditional soul food dinner consisting of fried chicken, candied yams, collard greens, cornbread, and macaroni and cheese. The cultivation and use of many agricultural products in the United States, such as yams, peanuts, rice, okra, sorghum, grits, watermelon, indigo dyes, and cotton, can be traced to African influences. African American foods reflect creative responses to racial and economic oppression and poverty. Under slavery, African Americans were not allowed to eat better cuts of meat, and after emancipation many often were too poor to afford them. Soul food, a hearty cuisine commonly associated with African Americans in the South (but also common to African Americans nationwide), makes creative use of inexpensive products procured through farming and subsistence hunting and fishing.

Pornography and the Sexualization of Society

Pornography and the Sexualization of Society SOC101 11/27/12 The topic I chose is â€Å"Pornography and the Sexualization of Society†. I chose this article because I’ve noticed a drastic changes in the media, in advertising, and marketing that influences society in desensitizing us and our beliefs on what is normal and morally acceptable in terms of exposure to sexual content as well as the mass marketing of items that were once rarely seen in your corner drugstore or advertised in major publications.I can recall growing up as a teenager in the 1990’s and how big of a deal it was when a prime time television show featured it’s main characters having sex for the first time, or even making reference to explicit sexual acts. In contrast, in the last 20 years, it’s common place for teens or very young adults on television and in movies to have sex lives dramatized for entertainment. Additionally, television and print advertisements not only use explicit innuendo for contraception like condoms for example, but they also feature specialty enhancements for these products to make sex â€Å"better† for both partners.A visit to a local drugstore and there are sex toys advertised as â€Å"personal massagers† , lubricants for â€Å"his and her† pleasure and other items that would once have only been found in an adult bookstore. Pornography, not only in print and privately packaged covers can be found at most book stores as well as online websites with almost no age restriction. Soft porn is also readily available on cable television, and not just on premium channels designated adults only.HBO, Cinemax and Starz all have late night content that I would not want my teenage relatives to watch. Movies in theaters do have mandated content warnings, but it seems that even non â€Å"R† rated movies show a lot more today than they did 20 years ago. This contributes to what I would consider the Sexualization of our curr ent Society. The question for me is whether or not added exposure to sex, especially to teens and young adults contributes to deviant behavior.When applying Functionalist Theory, and the idea that society relies upon its members to have order, stability and an agreement on what values are and how they should be achieved, I can’t help but wonder to what extent does the overt sexualization of our culture have an impact on that stability. While our text does not indicate an increase in sex amongst youth in recent years, there is still a notable difference generationally speaking.This difference isn’t necessarily in the act of sex itself, but it our pop culture, in our mass communication online, in text messages and face to face conversations. If our society is to continue with overt sexualization as it has been†¦what will be the outcome? Will more teens have sex, will deviant sexual behavior become more and more prevalent? What mechanism should be employed to prevent the latter from happening? (Anderson/ Taylor 2011). References: Andersen, M. L. , and H. F. Taylor. Sociology, the Essentials. 6. Belmont, CA: Wadsworth Publishing Co, 2010. Print

Thursday, August 29, 2019

The Effect of RMB Revaluation in the Economy of China Dissertation

The Effect of RMB Revaluation in the Economy of China - Dissertation Example The Effect of RMB Revaluation in the Economy of China Table of Contents List of Tables 4 List of Figures 4 Chapter 1: Introduction 5 1.1Background of the research problem 5 1.2Statement of the research problem 5 1.3Research objectives 5 1.4Research questions 6 1.5Significance of the research problem 6 1.6Definition of terms 7 Chapter 2: Review of Related Literature 9 2.1 Chapter Overview 9 2.2 Currency revaluation and its effects 10 2.3 The fixed vs. ... The director also drew a plan of action if China did not withdraw the control of currency and permit the renminbi (RMB) to gain strength. The central bank of China known as the People’s Bank of China allowed for some relaxation. The bank announced that will abandon the two year old peg. The peg has kept the RMB with the dollar (Yu, 2010, p. 2). It allowed RMB to respond according to the forces of the market. China will now begin to move into the regime of floating exchange rate. The regime will be a tight one which was in practice in the period between 2005 and 2008. The value of RMB will be the base on a basket of currencies within a narrow range (Wharton University of Pennsylvania, 2010). China believed that the stable RMB policy is good for the country from the time of the financial crisis of Asia. The country turned away from the exporters who were reported for violating the standards of pollution. The strengthening of the RMB against the U.S. dollar has continued unabated since 2005. It will follow the stable rising path since the country is under intense inflationary pressure (Wang and Whalley, 2007, p. 3). 1.2 Statement of the research problem The problem this dissertation seeks to resolve is: What effects shall the revaluation of the renminbi have in China’s economy, as well as in the world economy? The principal goal of the dissertation is to identify the impacts of the revaluation of the RMB on the economy of China. 1.3 Research objectives In adopting the research problem specified above, the research undertakes to achieve the following objectives: (1) To examine the necessity of a currency revaluation in

Wednesday, August 28, 2019

Speaking annhiliation Assignment Example | Topics and Well Written Essays - 250 words - 1

Speaking annhiliation - Assignment Example He links the Little Ice age to well known historical events such as retreat of Napoleon from Moscow and the discovery of the new world by the Europeans. The role of crop failure in French revolution cannot be undermined .The book underlines the important relation that humans have with nature. The important thesis of the article is the correlation between man and nature. Man may believe that he has tamed nature to his wishes but he is made aware of the actual situation time and again. Most of the decisions taken by mankind are ruled by the forces of nature. Although many would like to believe that there was not enough technological advancement during that time to fight nature but the article does make one think about the present changes in the environment and the little role humans can play in it. The article provides a sobering thought about the power of nature and how humans have and always will evolve their life along these changes – any effort to control the faces of nature will always come to a

Tuesday, August 27, 2019

Tampa Bay Buccaneers Essay Example | Topics and Well Written Essays - 500 words

Tampa Bay Buccaneers - Essay Example Dunn’s reason for failing to complete the project on time was that the city failed to honour their terms of the contract. This paper will examine the contract, and who, between the two parties, is liable for a lawsuit. Under contract law, there are legal promises made to parties getting into an agreement (Monahan, 2001). Dunn, in this case, was entering into an arrangement with the city to start and complete the new city stadium. He knew of the time factor, but was ready to meet the challenge. However, his non-completion meant that he did not honour the terms of the agreement. The contract involved a bargain between Dunn and the city. He was liable to pay the city for all the financial damages the city might have incurred during the pre-season. Dunn, however, did not enter into the agreement alone. The city also made legal promises to him, which according to him, it did not fulfil. Their failure to honour some of the promises made to him by the city resulted in his failure to complete the project. The contract implied that Dunn would receive safety detail while working on the stadium. They, unfortunately, failed to fulfil their part of the deal. This meant that Dunn was responsible for everything that went on while working to complete the stadium. He catered for everything that was required while working on the project, in order to fulfil his end of the contract. The reason for his failure to complete the project on time was, therefore, justified. He incurred extra costs that should have been the city’s responsibility. Dunn, in the long run, should not pay any damages to the city. They should pay him for the extra amount of capital he might have put into the project. This is extra capital the city should have been catering for as part of their contract deal. While the pre-season started and the games shifted to another stadium, the Tampa Bay Buccaneers received an amount for their fans moving to watch their games in the other city’s stadium.

Monday, August 26, 2019

Chlamydia Research Paper Example | Topics and Well Written Essays - 1000 words

Chlamydia - Research Paper Example In addition, it affects both men and women. Additionally, about 30 to 50 percent of the women in the United States have been exposed to the bacterium at one point in their life. Additionally, Chlamydia ascends to the upper genital tract if left untreated in about 40 percent of the cases. As a result, C. trachomatis is known to be one of the major causes of acquired infertility. Generally, due to the high prevalence and adverse complication of untreated infections Chlamydia remains a major public health problem in industrialized countries (Dean, et al., 2009). As aforementioned, Chlamydia is transmitted from one individual to another through oral and sexual contact. Penetrative sexual intercourse is the primary mode of transmission. Chlamydia is transmitted through the vagina, anus, and oral sexual intercourse with an disease-ridden partner (Malhotra, Sood, Mukherjee, Muralidhar, & Bala, 2013). Infected individuals are the reservoirs of the infection. According to Breguet (2006), Mother to Child Transmission (MCT) can occur during vaginal delivery. In addition, conjunctivitis can occur on the occasion that a person touches his or her eyes with infected hands. The infections occur in the urethra, cervix, throat, rectum, eyes, throat, penis, and cervix (Breguet, 2006). According to the CDC (2007), a quarter of the females infected and half of the males do not present with any symptoms. In this regard, it is referred to as the ‘silent’ disease. However, in the population that presents with symptoms, they usually occur within 1 to 3 weeks after infection. Additionally, the symptoms tend to present differently in both men and women. The urethra and the cervix are the major organs affected in women. After an infection, women present with symptoms such as abnormal vaginal discharge and pain when passing urine. An infection of the cervix and fallopian tubes is characterized by symptoms such as pain during copulation, abnormal vaginal bleeding, abdominal pain,

Sunday, August 25, 2019

The Rise and Fall of the HP Way Case Study Essay

The Rise and Fall of the HP Way Case Study - Essay Example What was the HP Way? In the HP Alumni Association, Inc. (2012), it was revealed that the HP Way had five clearly stipulated corporate values to wit: â€Å"We have trust and respect for individuals. We focus on a high level of achievement and contribution. We conduct our business with uncompromising integrity. We achieve our common objectives through teamwork. We encourage flexibility and innovation† (HP Alumni Association, Inc. 2012). The date stipulate for these corporate values to be designed, instituted and implemented within the organization is in 1992. Accordingly, the HP corporate objectives designed as early as 1966 focused on seven explicit goals: (1) profit, (2) customers, (3) field of interest, (4) growth, (5) employees, (6) organization, and (7) citizenship (HP Alumni Association, Inc. 2012). ... Governance under Carly Fiorina Case facts revealed that Carly Fiorina was a former sales executive that was hired to shake up HP. She was reported to become HP’s Chairman and CEO in 1999, three years after the death of one of its founders, Dave Packard. It was specifically noted that she was hired from external sources and was instrumental in changing various corporate values that were identified to be an integral part of the HP Way. From among the tranformations attributed to Fiorina were: (1) mishandling of lay-offs; (2) valuing profits more than people; (3) creating a ‘cult of personality’; and (4) creating a culture of fear (Dong, 2002, p. 1). To expound on the aspect of laying-off employees, according to Jaime Ash, a retired engineer who stayed with HP for more than 28 years, the HP way that employees and management had been talking about focused on â€Å"co-workers (who) were reassigned to new jobs rather than fired; how the company for a time implemented a shortened work week for all employees so certain individuals would not lose their jobs† (Dong, 2002, p. 1). In sum, the differentiated practices under Fiorina’s helm and the HP Way are detailed below: Corporate Practice HP Way Fiorina’s Helm Firing/lay-offs Job reassignment Laid-off 6000 employees Corporate culture Trust, respect Distrust, fear Motivational program Motivated by hugs Motivated by fear Management practice To be part of the team; Distant and aloof; decentralized top-down approach Communication practice Open, sharing information Close, secret, discreet Mistakes that Led to HP’s Near Collapse From the information and assessment of the facts, one could

Saturday, August 24, 2019

The relationship between a Toucans beak and new materials Essay

The relationship between a Toucans beak and new materials - Essay Example An example of such natural inspirations is the toucan’s beak. This is a great natural phenomenon that has attracted much attention from material engineers as they try to study its properties and understand the factors behind its unique features. The toucan’s beak is long and thick, and is perceived to be heavy for the bird though it is relatively light despite its size (Seki, Kad Benson & Meyers, 2006). The toucan’s beak is a third of the bird’s length, about 1/20 it’s mass, and has been proven to possess great stiffness (Seki, Schneider & Meyers, 2005). A study of the bird’s beak found it to be made of a sandwich composite with keratin on its outside and close calcium cells rich proteins making a fibrous network (Seki, Schneider & Meyers, 2005). Moreover, the closed cell making the bird’s beak has fibers with a young modulus of more than twice as high as the keratin shell on the outside due to the calcium content. Therefore, such biological materials when well-studied inspires engineers to come up with materials that correspond to the beak, which incidentally would offer similar characteristics and qualities in engineering materials , resulting to superior materials for specific us age. For example the length of a toucan’s beak and its size in relation to its light weight inspire engineers to come up with martials with a keratin coating on the outside, fibrous networks on the inside, plus an added calcium layer to achieve the strength and flexibility portrayed by a toucan bird, but still meet the need to have such a large component with light weight. In the construction industry where flexible materials are essential, such toucan’s beak offers a great inspiration for engineers to come up with similar materials, which will offer more flexibility, will be much light compared to its size, will possess great strength, and which will absorb high impacts (Biomimicry Institute 2013). Such materials

Friday, August 23, 2019

Portfolio Asset Allocation on LEE Pension Fund Research Paper - 1

Portfolio Asset Allocation on LEE Pension Fund - Research Paper Example ate bonds had the lowest correlation (-0.011827), implying it would be a desired asset for risk reduction, among the portfolios, by means of increased diversification. Standard deviations (SD) and means were also calculated in order to give a relative comparison between the different asset classes with regard to return and risk. Before 1970s, real estate never existed as a recognizable and established investment â€Å"asset class.† As an alternative, the portfolios of organizational investors like pension funds entailed almost exclusively of bonds, stocks, and cash. However, this situation was changed as inflation and modern portfolio theory caused the establishment of real estate one institutional investment asset class. The current undesirable performance in equity market implies real estate is progressively registering mixed-asset portfolio. Nevertheless, determining whether the desired return in real estate is one long-term phenomenon or a temporary thing is a concern that remains hugely unanswered. In simple terms, little or no even evidence exist to prove whether real estate ought to play an unswerving function in mixed-asset portfolio across long-term and short-term investment horizons. We intend to explore and give more light with regard to the uncertainty surrounding mixed-asset portfolio. T his was our primary concern as far as this paper is concerned. So as to protect the portfolios from any short-term or long-term fluctuation in the market, the pension systems spread assets across a wide range of asset classes. This allowed each portfolio to uphold stability through the turbulent market cycles. Every systems asset was invested in bonds, stocks, real estate, and global asset allocation strategies, with a small asset allocation to associate partnerships. The assets incorporated in the analysis were given as follows: These investment categories exhibited imperfect correlations since when one category was wavering, another was doing exceedingly well or

Thursday, August 22, 2019

Human Computer Interaction for Commercial Applications Essay

Human Computer Interaction for Commercial Applications - Essay Example The super-sensitivity of the touch proves a real mess for the users to handle the phone properly. The white box in the diagram shows the problematic, extra sensitive screen Whether it is being used or not, it automatically initiates different functions that are accessible from the external touch screen display with just mere friction, making it difficult for the users to receive important calls and messages. Environment Surrounding the System The device MotoRazr2 is basically a mobile phone made for communication. It is a common mobile phone used primarily in the United States of America. It contains basic functionalities such as calls, messages, video streaming, Internet, Bluetooth, camera and external memory. It is used by common people who are average mobile users and use their mobile phones just for making calls, sending messages and for some entertainment. Therefore, it is used socially by an average person who does not have a keen interest in utilizing all the functionalities o f the mobile phone. Therefore, these mobiles are used roughly by users and such rough usage causes the UI design with the flaw of extra sensitivity to fail completely. The external display touch system that was the USP of this mobile phone proves to be a stone in the path of success. Jargons No technical jargons are used in the system literature except for common HCI terminologies in describing the system PART 2: THE USERS List of User Groups Following are the potential users of the device/mobile MotoRazr2: 1. Lower class businessmen 2. Students 3. Freelancers 4. Salary based personnel Characteristics of Two Contrasting Groups The two highly contrasting groups that have a significant level of distinct priorities are lower class businessmen and students. These lower class businessmen have more office work to do than to enjoy entertainment functionalities of the mobile phone in question. However, the user group of students has considerably significant usage of the entertainment facili ties of MotoRazr2. The characteristics of a lower class businessmen group are as follows: These businessmen do not have enough time to explore the functionalities of the device Due to lack of time, they have comparatively lesser interaction with the device They are careless about their device and therefore, have a disadvantage of extra sensitive touch display The characteristics of the user group of students are as follows: Students have relatively more free time than these businessmen, hence they explore the functionalities of the device thoroughly Because of their rough usage of device and frequent interaction with it, students have faced problems such as auto triggering of unwanted behavior because of the poor UI design PERSONAS Businessmen Group: John is a new technology entrepreneur. He runs a small technology startup and deals in web designing and development. He normally takes projects from his local clients; therefore, he is mostly discussing his projects on call. He barely has time to text anyone and he needs to save contact details on the go. John normally loads his cell phone with credit, but his daughter, who is a toddler, is greatly fascinated by the external display of the phone. She always uses her thumb to turn its light on and off. She also likes to play with the flap and press random key combinations. John is always amazed by the fact that his credits run out at night time. John cannot, therefore, make important calls at night as he does not have enough credit

Hockey Cross Country Comparison Essay Example for Free

Hockey Cross Country Comparison Essay Hockey and Cross country are two completely different sports in many aspects for example one is played on ice and is very physical and the other you are running on dry ground and all you do is run. But in many aspects these two sports have more in common than most people would think. These two sports in some aspects are polar opposes but having played them both I can say they are very similar. First off they both require extremely high levels of physical endurance and strength. Hockey requires you to have physical strength, quickness, and hand eye coordination. As cross country requires physical strength as well, but it also requires you to put your mind over your body, this means that no matter what kind of physical pain you may be in you have to block out the pain and keep running. Now most people think that cross country is not a team sport and only individuals run cross country right? Well they are very wrong cross country is just as much of a team sport as hockey. In cross country you rely on your team mates to place well in their race to score points just as a hockey player would in hockey. Both hockey and cross country require immense amounts of training. Hockey you have to train your hand eye coordination as well as having good vision and being physically strong. Cross country you must train your endurance you must have massive amounts of stamina as well as mental strength. Cross country you need a strong core and legs and stamina, but hockey requires you to be strong in every muscle group. Hockey is a physical sport that requires you to be able to block out pain after a big hit or a player takes a puck where they don’t have any padding.

Wednesday, August 21, 2019

Live Interpretation of Heritage

Live Interpretation of Heritage Historic Sites, Museums and Galleries Live interpretation of Heritage Introduction Over the past few decades heritage and culture has become an important part of people’s life, especially in respect of their leisure and tourist activities (Boyd 2003, p.1). This is particularly true in the case of tourism, where the historical demand for tourist and leisure activities have waned in favour of those filled with more cultural elements. There is an increasing desire to visit historic sites, museums and galleries in an attempt by the individual to learn more about their heritage and those of other cultures and social groups. At the same time, today’s heritage visitor has become more discerning about the manner that these venues present heritage experience to them (Boyd 2003, p.2). In essence therefore, heritage can be seen to relate to historical events and settings and the visitor wants to experience those historical experiences as an almost physical event. However, despite the numerous researches and survey results that supports this change in the visitor demand, there is still evidence that a number of heritage sites, museums and galleries are failing to react positively to these findings (Black 2005, p.10), which in many cases has resulted in a drop in visitor numbers at these venues. This situation can have serious consequences, especially for those heritage sites that rely upon entrance fees to bridge the gap between state funding and the running costs of the venue. Even where this not the case, for example where government funding is used to provide free admission, such venues are still accountable to the state and need to prove that their establishment is delivering to the needs of the public, which a reduction in visitor numbers will not achieve. In an effort to address this problem the last two decades have seen an increase in literature related specifically to the manner in which heritage is displayed and portrayed to the visi tor, creating a new discipline under the general title of heritage interpretation. Heritage interpretation relates equally to the understanding of the site or objects displayed for the visitor and the motivation determinant and needs of that visitor (Blockley and Hems 2006, p.1). Until recently, most academics agree that heritage interpretation has been the least developed aspect of the venue’s promotion to the visitor (Boyd 2003 and Blockley and Hems 2006). Interpretation forms and integral part of the visitor experience and will influence the experience that they take away from the visit (Boyd 2003, p.193). Therefore, it follows that understanding what motivates a visitor or group of visitors will enable the museum, gallery or heritage site to be better able to display and promote their product (ibid 2003, p.64). For most visitors that motivation will be to gain pleasure and learning from the object or activity being displayed. In most cases, as Blockley and Hems (2006, p.10) suggest in their research the motivation for the visit is to fulfil the individual’s need for pleasure and leaning and if the heritage venue or object does not achieve this the visitor will leave dissatisfied. In fact, the visitor has come to expect to be greeted with visual views, and animated displays when visiting heritage sites (Dicks 2003, p.17). Thus it is essential for the venue managers to ensure their destination and its contents meet these requirements. One aspect of interpretation that has come to the fore in the minds of the visitor during recent years, and an area that academics agree is an essential part of interpretation, is the level of interaction that exists between the visitor and the heritage venue or object. A recent development in this respect is the increasing use of various forms of live interpretation within the heritage display and other venue activities, and it this area of interpretation that will form the focal point for this study. Live Interpretation Live interpretation of heritage is the most direct form of interaction between the visitor and the artefacts and events that are being exhibited at heritage sites and venues. Visitors and tourists today expect to see live heritage and cultural displays rather than inanimate objects displayed in empty or one dimensional building and display boxes. For example, visitors to industrial museums have come to expect to be treated to visual and moving displays of historical machinery and even to feel the experience through a living example of the society of the time (Dicks 2003, p.29). The process of live interpretation can be delivered in a number of formats. One early example of live interpretation was achieved by allowing the visitor to interact with working models, which enabled them to better interpret the processes that were involved with that models operational purpose. As the process of interpretation continued to evolve, these working models were enhanced by the inclusion of audio and visual interpretation methods, which research indicated were perceived to be more rewarding for the visitor than written text material, such as leaflets and books (Boyd 2003, p.231). The use of information and communication technology is another area of live interpretation that can prove effective, through a process of interactive involvement or displaying films and holographic images (Atkinson 2007). As Atkinson (2007) report further explains, by using ICT it is possible for the heritage site management to be able to â€Å"personalise and tailor exhibits and experiences to the individual or specific group’s needs.† However, today the most direct form of live interpretation is deemed to be that which involves physical face to face interaction between the visitor and a representative or group of representatives directly involved with the heritage site, either on a voluntary or employed basis (Blockley and Hems 2006, p.184), which most researchers identify as an interpreter. As these author’s point out â€Å"face to face interpretation is seen as the best form of enlivening the visitor experience† and certainly make them consider that it is time well spent. One important aspect needs to be mentioned in respect of the actions of the interpreter. This relates to their level of competence and degree of competence. As Boyd (2003, p.195) explains, â€Å"Whilst live interpretation is deemed the most effective form of interaction between visitor and the heritage object, poor quality in live interpretation is worse than nothing.† However, the degree to which the â€Å"interpreter† brings the heritage experience to life will depend upon the venue and its content. For example, they can range from the inclusion of a tour guide to costumed characters who re-enact the history and culture that the heritage site is promoting. This degree of variation and the appropriateness for the heritage venue will be further addressed in the following sections of this study. Museums and Galleries A number of researches have been conducted with the intention of discovering how much time visitors spent in museums and to what extent the format and display of the exhibits influenced the length of visit. One such survey, conducted for the research carried out by Boyd (2003, pp.77-78) found that there was a point of time at which visitors interest in the exhibits began to wane and the inclination to â€Å"head for the exit† began to dominate their thought processes. This was especially found to be true where the interpretation of the exhibits relied solely upon the basic strategy of display. For example, unless the visitor has a specific historical or academic interest in the specific artefacts being displayed within the venue, which only relates to a small segment of the population, after a while one exhibit, be that a painting, vase or another kind of inanimate object, all began to look alike to the visitor. At that stage the pleasure and learning gained from the experienc e began to deteriorate. There still exists the purist view that will argue against the introduction of live interpretation has no place within museums and galleries. Their reasoning is that the visitor should be allowed to interpret the exhibit free from the influence of what those who hold this opinion perceive to be external interference. However, although as stated previous this might be relevant for those who have a dedicated reason for visiting the museum or galleries it was becoming apparent to the mangers of these venues that this was not concurred with by the majority of visitors upon whom these museums and galleries depended. Therefore, remedial and innovative action was seen to be required if the decline in visitor numbers was to be reversed. It became apparent that some of the key qualities that visitors expected to experience from viewing a particular exhibit were clarity, poignancy, attractiveness together with a dynamic presentation (Boyd 2003, p.224). However, in the case of many visitors it proved difficult achieve the satisfaction of many of these qualities unless the object or exhibit was appropriately interpreted in the first place. This did not mean that the museums and galleries had to introduce moving or highly interactive interpretation process for all of their exhibits. In many instances it was simply a question of introducing a tour guide (Dicks 2003, p.171). This would involve employing a person who had sufficient knowledge and experience about the exhibit to be able to provide an appropriate interpretation, which the visitor could consider and come to their own informed opinion. An example of where such a tour guide is frequently used is in the Royal heritage. Often professional interpreters are used to b ring the heritage to life, as is the case with the royal palaces (Blockley and Hems 2006, p.45). To maintain the dignity of these historical sites it would be inappropriate to introduce some of the more technological based live interpretation methods, such as videos, films and other gadgetry. In such cases therefore, the tour guide will be employed to act as the face-to-face interactive interpreter. The heritage visitor or tourist would not expect any greater level of interpretation in such delicate and reverent historical surroundings, and the same reasoning would be applied to heritage sites of religious significance, such as historical churches and cathedrals. Nevertheless, there are other museums and galleries where the more proactive and interactive live interpretation methods are useful in improving the visitor experience. Providing visitors with a method that allows personal live interpretation, for instance by using computer generated informational processes that explain the origins of the object or gives more information relating to its original use and purpose, can enhance the benefits that the visitor receives from viewing the object. Another method that is being used more frequently within the museum and gallery environment is to make the object or artefact live by introducing information and communication technology process that allow it to move and react (Atkinson 2007, p.7). Black 2005, p.264) promotes the increased use of files within the museum, arguing that this manner of interpretation is more likely to enable the visitor to experience the object as a living thing, thus creating a psychological connection. One area of museu ms where these methods have proven to be particularly successful is in the field of natural science. For example, presenting the dinosaur animal generation in an interactive and live interpretation method provides the visitor with a better idea of the size, power and a concept of the physical damage that such creatures could cause. Another recent development within the museum sector of heritage is the evolution of the open-air museum (Boyd 2003, p.224). Because of the difference of the environment for the exhibit, these venues have developed an interpretation process that is far more focused on its live element. In effect the visitor can almost touch a living exhibit and, through the detailed live interpretation process, is transported back to the historical times during which the object was created. In fact, by the use of costumes and special effects often in these cases the visitor will feel as if they have had a personal connection with these events. Research has shown that, where museums and galleries have adopted some of these live interpretation measures within their venues, and to provide a better understanding of the exhibit, this has resulted in a positive effect on the length of a visitor’s stay (Black 2005, p.257). Furthermore, it has also had a positive impact in that visitor numbers have seen improvement in many instances. Historic sites As Jane Malcolm-Davies (2003, p.1) mentions in the introduction to the process of using costumed robes for live heritage interpretation, historic sites are finding it increasingly difficult to survive in the competitive environment of the leisure and tourism industry, not least because of the reduction in government funding, but also because of the impact of competing sites. As a result they have to resort to new and innovative measures for interpreting theirs sites in a manner that will increase visitor numbers. To stand out from the crowd and gain a competitive advantage that will lead to an increase in visitor numbers, live interpretation of the heritage value of these sites often has to resort to making the historical event come alive, a process that is most commonly referred to as re-enactment. These live interpretation events can take a number of forms. Some of the best known would be the re-enactment of historical civil wars, with authenticity attempted in every aspect of the actor’s costumes and equipment, accompanied by the realistic noise of battle. In other cases, the event might involve a live reconstruction of a home or village as the actors perceived it to be in historical times. Alternative versions of these occur where industrial processes, plants, and retail business environments are re-created to resemble how it might have looked in yesteryear. In a number of cases there is an invitation for the visitor to join in with the experience, creating for them a unique memory of the occasion. However, as with the use of live interpretation developments in museums and galleries, there has been some intense disagreement inn the past between academics and members of the historical heritage groups regarding the use of re-enactment and the use of costumes, with the opponents considering it to be fake (Sansom 1996, p.134). Indeed, many of those who hold this opinion consider this approach little more than theatrical nonsense. It is probably partly because of this reaction that it took until the latter part of the 1980’s before heritage sites began to employ â€Å"paid, permanent, costumed staff as an integral part of their daily interpretation† activities (Hicks 1994, p.9). The difficulty was that, before the employment of professional interpreters or â€Å"actor† there could be said to be some truth in the opposing argument. However, to the extent that these objectors delayed the introduction of a more professional approach to the live interpretation, it could be said that they contributed to the poor standard of interpretation that previously existed. In his dissertation thesis in 1990, Robershaw (1990, p.31) found from his research into the situation with regard to costumed interpreters that whilst it had the cosmetic effect of creating a more realistic atmosphere, this was not at that time communicated to the visitor. The same author quoted other literature that, like his own, concluded that visitors were demanding that the historical site managers should deliver a more â€Å"interactive experience†, which was clearing not happening at that time. It was also argued that because of the educational leanings, the resultant experience lack ed any element of fun and entertainment. The remarkable thing is that, since the introduction of live costumed and professional methods of interpretation (Sansom 1996, p.122 and Malcolm-Davies 200, p.9), this element of interaction and increased in the value of entertainment and fun has become more evident. The improvement has led to a situation where it has been found to the level of recall and understanding that is experienced by the visitor. Most academics, including Black (2005, p.117) and Dicks (2003, p.49) are now firmly of the opinion that historic and cultural sites that adopt the live approach to interpretation and encourages interaction with the visitor, even to the extent of re-enacting historic events, do find that it leads to an increase in visitor numbers. Furthermore, it leads to a greater degree of satisfaction of their need for enjoyment and learning. The proponents of live interpretation for historical sites argue that these re-enactments, especially now that they are more professional in nature, can be considered to be displaying an improved and closer depiction of the actual event, and therefore should be viewed as being more authentic. Furthermore, they will also argue that these events are serving to deliver to the main demands of the visitor, in that they provide a much greater depth of learning, whilst at the same time satisfying the visitor demand for them to include an element of fun and entertainment. The managers of these historical sites will also argue that, the inclusion of live interpretation and re-enactment within the promotional element of the destination, such moves are also serving the objectives of the destination, which are a) to remain self-sufficient in terms of funding and b) to assist the destination in achieving a competitive advantage over other similar destinations. They would further argue that the reported visitor number increases for the industry sector as a whole, and many of the destinations individually, support their choice of interpretation methods. Conclusion As has been mentioned in the introduction section of this research, over the past few years there has been increasing pressure exerted upon the managers of historic sites, museums and galleries to become self sufficient and accountable for the value achieved as a result of the limited resources provided to them from the public purse. It is natural that, in order to meet these conditions, the managers of these sites have been forced to consider a more innovative solution to promoting their destinations (Dicks 2003, p.122). An increasing number have turned to the use of live interpretation as a means of providing a resolution to the problems they have been facing. In the past there may have been some merit to the argument raised by opponents to live interpretation. These might have been justified especially where those elements of this process went as far as the inclusion of costumes and re-enactment. This justification can be linked with the lack of professionalism that existed at that time. However, in most cases that position has changed and the introduction of professional actors, directors and costume designers have dramatically improved this element of live interpretation. However, in the final analysis of the appropriateness of these methods of live interpretation it is the results produced that determine their success or failure. When one poses the question whether the adoption of these new approaches to interpretation have had the desired effect in terms of increasing the numbers of visitors being seen at historic sites, museums and galleries, the external researches studied by the author all support a positive response. Similarly, looking at it from the viewpoint of the other main stakeholder, the heritage visitor, the question to be asked is whether â€Å"live† interpretation promotional methods have improved their enjoyment of the experience and is more completely meeting their demands and needs. Here, again, current research and survey results confirm that this is the case. In fact, as Hunt (2004, p.387) states in his detailed research on heritage and interpretation., â€Å"acting the part has now become almost essential, as most visitor s have come to expect it!† In conclusion therefore, it is found that live interpretation is more effective as a method of education and learning, and as a means of visitor entertainment, than has been the case with most of the other methods of destination promotion adopted by historic sites, museums and galleries in the past. It is therefore recommended that those destinations that have yet to adopt these methods, and are experiencing difficulty in meeting financial or public accountability standards, should seriously considered following the example of the many institutions that have benefitted from live interpretation. Bibliography Atkinson, S (2007) The value of information and communications technology in natural heritage interpretation Scottish Natural Heritage. Retrieved 8 August 2008 from: http://www.snh.org.uk/pdfs/publications/commissioned_reports/ReportNo218.pdf Black, G (2005). The Engaging Museum: Developing Museums for Visitor Involvement. Routledge, Abingdon, UK Blockley, M and Hems, A (eds) (2006). Heritage Interpretation: Theory and Practice. Routledge, Abingdon, UK Boyd, S and Timothy, D (2003). Heritage Tourism. Pearson Education, Harlow, UK Dicks, B (2003). Culture on Display. Open University Press. Maidenhead, UK. Dray, C (1999). History as Re-enactment: R.G. Collingwoods â€Å"Idea of History†. Oxford University Press. Oxford, UK Hicks, D. (1994). The use of living history events at historic sites and buildings, master’s thesis, Nottingham Trent University, Nottingham, United Kingdom. Hunt, S.J (2004). Acting the part: ‘living history’ as a serious leisure pursuit. Leisure Studies, Vol.23, No.4, pp.387-403 Malcolm-Davies (2003). Borrowed Robes: The educational value of costumed interpretation at historic sites. Retrieved 8 August 2008 from http://www.esade.es/cedit2003/pdfs/malcomdaviesjm.pdf Robertshaw, A. (1990). Acts of imagination. Museums journal, Vol. 3, pp.30-31. Ransom, E. (1996). Peopling the past: current practices in archaeological site interpretation. In Archaeological displays and the public: methodology and interpretation (McManus, P. Ed.), pp.118-137, Institute of Archaeology, London’

Tuesday, August 20, 2019

New Business Report On Nail Salon

New Business Report On Nail Salon In October 2004, Nails magazine conduct a survey and learnt that 87% of women have had their nails done at a salon (2). The magazine also stated that 42 % of the respondents have their nails done at least once a month and Nail-only salons are the preferred choice over full- service salons or spas for nail care (1). Almost all women go to nail salons in order to look good. Nicer Nails salon is a beauty service establishment that supply a personal service to predominantly female clientele. The salon offer nail care like pedicures, manicures as well as nail enhancements which involve applying false nails, nail extensions, and decorating fingernails according to requirements including nail parties. We are knowledgeable about hygiene and health issues relating to their profession. The desire to have beautiful nails first began during the Ming Dynasty of China, long artificial nails were worn by noblewomen as a status symbol indicating that, unlike commoners, and they did not do manual labour. In the early 19th century in Greece, the upper class women wore empty pistachio shells over their nails, then slowly spreading the artificial nails trend across Europe. In the late 20th century, artificial nails for women became widely popular all over the world (4). The fascination with beautiful nails has grown over the centuries and become a multi-billion pound industry. Extension nail is now a thriving market. Exploiting the development of technological and procedural advancements, Nicer Nail salon will provide a full-service nail technician with high customer satisfaction by delivering speedy, excellent service, an enjoyable atmosphere at an acceptable price. The demand for nail technician service is growing since women have increasing the disposable income which they are keen to spend on treatments that will reduce the stress of everyday life. At Nicer Nail salon, our high qualified technicians will offer a comfortable and relaxed environment. We are the true cut above other nail shops. Our mission is to supply services that enhance our clients physical appearance and mental relaxation. The timing is right for starting new venture; one perfect location was found in Kingston shopping centre. To achieve our objectives, Nicer Nail salon is seeking  £40,000 in loan financing. This loan will be paid from the cash flow from the business and will be secured by the assets of the company. 1.0 Introduction Beauty industry in the U.K is booming, there is a lot of money to be made in this industry more than ever, making today a great time to join the industry. Salons and spas have become a cure to the fast-paced lifestyles nowadays. It has been estimated that the average person spends one third of her cosmetic budget on nail care. Because todays fashion regards professional nail care services increasingly important. However, this billion pound industry can be influenced by changing in politics and economic. The report will show how important it is for business to react with the change of environment. This report is not only an environmental analysis that supports the nail salon but also a financial plan to help the prospect of opening Nicer Nail Salon. Product service: 2.1 Target customer: female over 16 year olds. According to the Nail magazine, nail salon patrons begins their habit early. 55% were under 25s when they first starting having their nails done professionally (1). Moreover, result from 2010 Survey of Hours and Earnings show Women salary is highest in the age group within 30-39 (12). On the other hand, nails art parties are on the rise in popularity, particularly for hen nights and teenage parties. Therefore, the need to offer an array of services to attract clienteles of all different age and income groups is necessary. For example, high-end clients are looking to be pampered. Although we cannot ignore the segment of customers, who would still want to have their nails done, dont want to spend out of their comfort areas. Services: Principally, the salon will generate revenues from the direct nail technician services. A nail technician provides painting, nail filing, manicure, pedicure and artificial nails services including acrylics, airbrush nails and nail jewelry. The most popular new foot service which is gel toenails also be provided. To a lesser extent, the salon generates revenue from sale of nail care and hand cream products. Furthermore, a deluxe service involves playing around with colored gels and dabbling in 3-D art will also be offered. Location: the salon will be located on Fife Road, Kingston -upon-Thames, U.K. the location is strategically situated on one of the busiest street in Kingston next to a hairdresser; importantly, there is a big car park nearby the salon. This is a high profile area and easy access from all parts of the town. It is also very convenience for clienteles to locate our salon. Pricing: According to nail magazine survey, 11% of respondents have stopped having their nails done at a salon due to the expense (3). Thus it is important to offer service that available for customers who cant quite afford high-end luxury salons. After sales service: our customers will leave with tips on how to make their nails healthier. To gain the clienteles trust, clean and safe quality products are used. In addition, clients are always welcome to question about our products. We are confident that word-of-mouth about such a salon would be the best advertising for this type of business, it is not only attract local clienteles but also reach customers far outside the boundaries of Kingston. A creative and innovative fashion always applies to generate very high levels of customer satisfaction. Providing customers with the option of booking appointments and consultations online. 3.0 The Business environment (PESTLE analysis): Like any other business, the Nail salon has to act and react to external factors influences it. Since markets are changing all the time. Customer develops new needs and wants, new competitors enter a market, new technology means that new product can be made. Government introduces new legislation e.g. increase minimum wage means that the disposable income increase it may lead to higher level professional service. Therefore, it is essential to know the influence of external factors include political, economical, socio-cultural, technological, legal and ethical environment is (13). The political environment: is one of the most important factors affecting the operation of a business. It is part of the macro-environment which is external to an organisation and completely beyond its control. The effect of political on business in general: Politic affect business in varieties of levels. Business is affected directly by tax policy; high tax rate will attract less investor (chart 8 in appendix1). Policies of government are very important. For example UK is the democratic country, people have full voting authority; they would be able to choose government that would work for the betterment of the country. It helps businesses to thrive because of the good policies of the government. In contrast, if there is no democracy, there is no respect for the chosen government. Instability and uncertainty in the country arise, government comes and goes and so will their respective decisions and policies. Business will suffer in such case as they do not know what will be their future. An example of instability political causes negatively influencing is the effects of anti-government protestors on hotel operators in Thailand in December 2008. Chart 9 (Appendix1) shows a loss of room revenue during period of peak tourist season. It is clear that the political instability is negatively influences travelers decision making (7). Furthermore, a stable political situation will attract more and more investors from other nations. The effect of the political environment on nail salon: Tax policy: as a sole trader Nicer Nail salon owner has responsibility to pay for local business tax, VAT, corporation capital income tax for business and national insurance for employees. Because by doing so the government know the presence of the business. The conservative government recently announced a new austerity plan. It causes higher interest rates, more business failures, lead to shaper rise in unemployment, directly affect the bank and national disposable income. As a result, the salon revenue may reduce significantly. Economical environment : It is believed that the level of demand for nail treatments can change depending on consumers level of disposable income. Businesses are in areas hard-hit economically will suffer because people lost jobs they have to tighten their belts and take control of their spending habits. Since many people are of the opinion that having nails done is not a necessitate thing. As a service industry, many beauty salons are being hit severely. Retail Sale is another example of industry that suffers when the surrounding economy turns down. Chart 11 (appendix 1) shows a lot of retailers report losses and in fact go out of business. Fortunately, the economy in the UK is in fast recovery (Chart 5 appendix 1). Additionally, chart 6 (Appendix 1) show household expenditure and total employment rose (5). Increasing in disposable income means that people can spend on luxuries like nail treatments. Furthermore, The British Lifestyles report by research group Mintel found that in the last decade we have spent 50% more on trips to hairdressing and beauty salons. This proves that the beauty market increases continuously despite the fact that the economic market condition in the UK is still in recession. Regardless of the recession, there are still people who enjoy being pampered. It makes professional nail care is a business with many good advantages. Socio-cultural environment: Every business works in society and consequently is subject to a variety of social influences. These influences include demography, social class and culture (13). For example, result from 2010 Survey of Hours and Earnings (chart 10 appendix 1) show that median earning of female employees grew. Increasing number of career women trends developing a high maintenance notion towards beauty regimes. This is reflected in the increasing amount of nail bars and services available. Nicer Nail Salon is the place where hard working people can come to get away from their daily stresses and be truly spoilt, a place that had the look and feel of a posh city salon. Nail arts can be a fashion statement and express individual for young clienteles who follow the latest trends and styles with a desire to be fashionable. Other services such as ear piercing, facial, and waxing eyelashes treatments are also offered to attract new clients. On the other hand, UK population is ageing (chart 4 Appendix I), ageing population means that the need to provide for a wider age range of clients is essential. Nodaway, Women earn more they will spend more money to look good. Plus the influence of fashion and changes in attitude toward health make professional nail care become booming industry. Technological environment: Advances in technology can have a major impact on business success. For example, one of the easiest and quickest way to let high-end class clienteles know that the salon are dedicated to serving them with luxurious pampering is creating a website that speaks to their needs and wants. Since, today the internet has major influence on the way consumers research and purchase products. By registering the nail salon with online portals the potential customers can easily reach the salon website which provide company name and contact information with online directories. Furthermore, option of consultants online 24/7 shows the salon is dedicated to deliver professional service. Moreover, electric nail file, unlike manual tool, enables a nail technician to filling acrylic nails much easier since the areas that were once hard to reach when filing manually such as cuticle areas and undersides of nails are now easily accessible. The electric nail drill is a time saver; it allows the salon to serve more clients in a day and this should increase profit. In 2010, 19.2 million households had an Internet connection in the U.K. This represented 73 per cent of households and an increase of 0.9 million since 2009 (15) an enormous increase in the number of home computer. This makes internet becomes one of the best ways to advertise the salon. On the other hand, improvements in technology will reduce the costs of nails equipment and products for example nail varnishes, jewellery. This should increase salon revenue. The legal environment Health and safety is important when working as a nail technician. Health and safety legislation is part of criminal law. Failure to comply with the law has serious consequence for example if there is a severe risk to health and safety, the salon will be closed down until improvements have been made. The salon has to work within the legal and professional frameworks that set the standards for employment. The law demands that every place of work is a healthy and safe for clients, workers, and other visitors. For example, potentially hazardous substances like glues or acetones should be carefully handle. The salon must follow the Control of Substances Hazardous to Health Regulations 2002 (COSHH) (10). My salon also looks forward to Legal requirement such as accident insurance and safety disposable products. The salon will keep to the Health and Safety guidance produced by Habia for nail technicians (9). This involves controlling and minimizing skin exposure to nail products, disinfecting equipment for manicuring, cleaning and minimizing inhalation exposure to nail products A nail technician should provide a service with reasonable care and skill, within a reasonable space of time and at a reasonable charge (The Supply of Goods and Services Act 1982). The nail technician will commit a criminal offence if published misleading advertising that deceives another trader (The Business Protection from Misleading Regulations 2008). Hence, it is crucial to know about the laws. Ethnical environment: Methyl methacrylate (MMA) is a monomer used in nail enhancement application but it should not be used in the salon due to its dangerous effect such as blister and nail loss for natural nails or respiration problem and asthma for some people even though it is still legal to use in the UK. Acrylic contaminated materials should be sealed in a bag before disposal in the bin reducing the amount of chemicals in the air. Gauze pads, cotton wool etc. that have been soaked in chemical should be disposed of in a sealed bag. The intended legal entity for my company: The salon operates as sole trader. I have look and found that being a sole trader is the easiest way to start a small business like a nail spa. Accounting is much easier hence bills for accountants are lower. Plus no complicated paperwork is required. Importantly, decision can be make quickly and close contact can be kept with clients and employees. However, you have to make decisions and provide all finance by yourself. The business income is the owner income therefore it is harder to reduce tax bill. Registration and regulation: Nail technicians are required to register their business and apply for a license to trade. The licence is known as a special treatment licence. The fee to register will depend on each local authority. As a Sole Trader, the salon owner needs to register with Her Majestys Revenue and Custom (HMRC) as self-employed at the moment the business has started otherwise the financial penalty will be charged. Financial plan The startup capital of  £45,000 (appendix II for details) is required to use for the design, leasehold improvement, and equipment of the salon. There are many ways to raise finance for examples borrow from family, get a bank loan or from outside investors. I did research and found that the best way to raise capital for Nicer Nail Salon is borrowing from my parent because they provide with better terms than the bank or private loan guarantees. In order to have successful business with family an agreement letter (Appendix II for details) between me and my parent is necessary in case thing dont go as planned. This also helps to protect everyone from each other and eliminate all conversations that start with you never said that. This note emphasizes that my parent lend me  £45,000 as a debt loan rather than equity. The interest will be paid quarterly to my parent account. Borrowing from parent is better than borrowing from private loan guarantees as the limit time frame stems is much longer. Compare to bank term loans, the interest rate is also much lower. Conclusion: Based on the result from 2010 Survey of Hours and Earnings and British lifestyles I can conclude that Nicer Nail Salon is a necessary service nowadays. Owning a nail salon is promising as little start-up cost is needed and importantly, it is never out of season. , it will be a good start of going somewhere with nail business. Explain in greater details of executive summary how and why the conclusions were reached. This is based on result of findings Appendix I: Table 1: shows the places where customers have their nails done. Table 2 shows how often they have their nails done Table 3: show the main reason stop customers having their nails done at a salon Chart 4: Estimated and projected population and percentage of population by age group, UK, 1984, 2009 and 2034 (3) Chart 5: show the economy from 2006 to 2010 (2) Economy grows by 0.7% in Q3 2010 Chart 6:show consumer Spending trend from 2006 to 2010 Household expenditure grows by 0.3% in Q3 2010 Household final consumption expenditure percentage change, quarter on previous quarter Chart 7: GDP and the Labour Market (5) From recession to recovery The labour market in recession and recovery The UK continues its path of recovery from recession(5) The UK economy over the past three recessions According to the latest figures, UK GDP grew by 0.7 per cent in quarter three 2010. GDP grew by 0.7 per cent in quarter three 2010. This was the fourth consecutive increase since the end of the recent recession. The 0.7 per cent growth stemmed from: Service sector (0.4 per cent) Construction sector (0.2 per cent) Production sector (0.1 per cent) Growth in the Service sector was driven by the government and other services, transport storage and communication and distribution hotels and restaurants Chart 8: Higher tax rates discourage investment by lowering investments return (6) Chart 9: Daily hotel reservation requests in Thailand from 16/10/2008 to 16/12/2008(7) Chart10: Earnings 2010 survey of Hours and earnings (12) Chart 11:UK Retail Sales during recession Appendix II: Below is the summary of money needed to start up Nicer Nail Salon Start-up Expenses Rent deposit  £1,500 Legal  £500 Brochures  £500 Stationery  £1,000 Sundry salon equipment  £2,500 Total Start-up Expenses  £6,000 Start-up Assets Needed Cash Balance on Starting Date  £15,000 Other Current Assets  £24,000 Total Assets  £39,000 Total Requirements  £45,000 This is an installment promissory note between me and my parent Instalment Promissory Note (17) Full Names ____Kim Anh Tran_____ Address___Kingston -upon- Thames , UK, KT2 7SB (Hereinafter referred to as the Borrower/s) Full Names ____Kim Pham____________________________ Address: Kingston -upon- Thames , UK, KT2 7SB (Hereinafter referred to as the Lender) For value received, the Borrower hereby unconditionally promises to pay to the order of Lender the sum of __ £45,000 together with interest accrued at the rate of __ten six_percent (_6%) per year on any unpaid balance. Payment Terms Borrower will pay ______one__payment of __ £2,000___each at uninterrupted quarterly intervals on the __first day of each month, starting on the 11/01/2011 until the Principal amount and accrued interest is paid in full. All payments shall first be applied to outstanding late fees, then to interest and the balance to the Principal amount. Prepayment The Borrower may prepay this Note in full or in part at any time without premium or penalty. All prepayments shall first be applied to outstanding late fees, then to accrued interest and thereafter to the principal loan amount. Place of Payment Payment shall be made at the above stated address of the Lender or at such place as may be designated from time to time in writing by the Lender or holder of this Note. For ease of payment the Borrower may exercise the option to effect payment by direct deposit or electronic transfer of funds into the account of Lender as specified in writing. Late Payment Fees If payment is not made within _10___ days as stipulated in the payment terms the Borrower shall pay an additional late fee in the amount of  £__500. Acceleration of Debt upon Default If the Borrower fails to make any payment when due for whatever reason and the Lender provides notice of such failure, the Borrower must effect payment of the amount due within __30__ days, failing which the Lender can demand immediate payment of the entire outstanding Principal amount and accrued interest. Collection Fees In the event of default this Note may be turned over for collection and the Borrower agrees to pay all reasonable legal fees, collection and enforcement charges to the extent permissible by law, in addition to other amounts due. Security This Note is secured by a Security Agreement which will remain in full force and effect until this Note and the Security Agreement are released in writing by the Lender. Transfer The Lender may transfer this Note to another holder without notice to the Borrower and the Borrower agrees to remain bound to any subsequent holder of this Note under the terms of this Note. Replacement of Note The Borrower agrees to execute a new Note with the same terms and conditions and remaining value in the event that this Note is lost, stolen or mutilated. The Lender shall release the Borrower of all obligations under the lost, stolen or mutilated Note in lieu of a replacement new Note. Joint and Several Liability All Borrowers or Co-signors identified in this Note shall be equally liable for the repayment of the debt described in this Note. Borrowers Waiver The Borrower waives demand and presentment for payment, notice of non-payment, off-set, protest and notice of protest and agrees to remain fully bound until this Note is paid in full. Lenders Indulgence No relaxation, indulgence, waiver, release or concession of any terms of this Note by the Lender on one occasion shall be binding unless in writing and if granted shall not be applicable to any other or future occasion. Binding Effect The terms of this Note shall be binding upon the Borrowers successors and shall accrue to the benefit and be enforceable by the Lender and his/her successors, legal representatives and assigns. Jurisdiction This Note shall be construed, interpreted and governed in accordance with the laws of the U.K and should any provision of this Note be judged by an appropriate court of law as invalid, it shall not affect any of the remaining provisions whatsoever. General Where appropriate words signifying one gender shall include the others and words signifying the singular shall include the plural and vice versa. Paragraph headings are for convenience of reference only and are not intended to have any effect in the interpretation or determining of rights or obligations under this Note. Signed on 10/01/2011 (1) Borrowers Name ___Kim Anh Tran__________________________ (2) Lender Name _____Kim Pham________________________