Injustice And Power Imbalances Between Africa And Europe

Injustice and Power Imbalances Between Africa and Europe in the 19th-20th Centuries In the late 19th century, Europe was arguably more stable economically and politically than it ever had been in the past. This was due to the industrial revolution occurring, bringing advances in technology that allowed for faster growth. Along with this, political reformations were abundant throughout the continent, especially in places such as Britain, Austria, and Italy, all of which were important areas for Europe. This, however, meant that they were far more hungry for resources to use. This was furthered by the fact that with the advances and stability industrialization had granted, many countries were actively able to conquest and claim territories†¦show more content†¦Some people may wonder as to why the Neo Imperialist movement started at all. As previously stated, Europe s stability and immense power compared to other areas of the world had an effect on this. Another cause of Imperialism was the imbalance of power that already existed between Europe and other regio ns, most notably Asia and Africa. In fact, the â€Å"corrosive impact of an industrializing West on societies in Africa and Asia† (Lynn) left problems not only in economic regards, but also in social and cultural ones as well. The big boom in Neo Imperialism, however, was because of Germany. In fact, it was noted that â€Å"colonial expansion was relatively cheap and was popular in Germany† (Lynn), which is what drove the rest of Europe to fully devote to Imperialism. This caused panic to sweep through the continent, as the threat to major European powerhouses from Germany â€Å"ensured that Britain and France had to expand in order to defend their oversea interests†. (Lynn) Another reason as to why European nations were looking to expand to other nations was a need for resources. Resources are extremely important to any country, especially a powerhouse. A lot of these resources that were demanded by a nation were often scarce or unavailable in Europe, such as c otton,

‘A Peacemaking Approach To Criminology’ Was Written By

‘A Peacemaking Approach to Criminology’ was written by Louis J. Gesualdi, and published in 2013. It contains a review of different writings, which relate to criminology. The main argument of Gesualdi lies in promoting a humane way of handling crime and deviants. The book proposes a peaceable way of dealing with offenders in a manner that accords respect to human rights. Further, Gesualdi notes that the criminal justice system is concentrated on inflicting harm on the offenders by punishing them. He argues that the system is fixated on the notion of reacting to crime rather than prevention. Hence, the book proposes an approach where restorative justice and prevention of crime can be accommodated in the criminal justice system. The main†¦show more content†¦Additionally, the Gesualdi also mention various crimes that are covered under the ambit of white collar crimes. They include fraudulent activities at the workplace, dealing in unsafe products, lack of provision of safe working conditions and corruption (Gesualdi 41). Another way in which Gesualdi exemplifies the definition of white collar crimes lies in the way he describes the scope of white collar deviance. He notes that the global economy is owned by a few people who give rise to various crimes. This is because of the power that they control over governments. For instance, the existence of few multinationals that control the economy lead to the rise of white collar crimes in the United States. This is due to the unfair and illegal economic practices adopted by the institutions (Gesualdi 42). In essence, Gesualdi is suggesting that white collar crimes include illegal and unfair trade practices. Since the organizations enjoy market monopoly they engage in activities such as price control, fraud and illegal advertising. Further, these firms have the practice of relocating their production plants to other cheap economy countries so as to avoid expenses and evade tax. All these actions, as Gesualdi suggests, amount to white collar crimes. The government has also been mentioned as one of the places where white collar crimes are committed and as such included in the scope of the definition. GesualdiShow MoreRelatedRadical Criminological Theories Of Conflict Theory2262 Words   |  10 Pages Radical criminology is based on structural inequalities and power relations of capitalist societies. Radical criminologists believe that crime is caused by social and economic forces of society. Radical criminology was heavily influenced by Karl Marx who believed that crime could be solved by overthrowing the capitalist systems and establishing a new system where class and economic status is eliminated. Next, theres peacemaking criminology which believes in a more peaceful approach to handlingRead MoreEthics, Midwifery And Social Work1214 Words   |  5 Pagesmany different aspects of one’s life, especially when working with your coworkers to people outside of your field of work. Throughout the semester as group members, we came from all sorts of different backgrounds, within our field of study. We had criminology, politics and governance, midwifery and social work students, all combined into a group that had to focuses on creating a conflict and coming out with a resolution at the end of the set battle. By coming from several fields of study which this madeRead MoreEssay on Criminological Theories13456 Words   |  54 PagesInternational and Pan-American Copyright Conventions. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior w ritten permission of the Publisher. Publisher: Claude Teweles Project Manager: Renee Ergazos Copy Editor: Jann Einfeld Production Assistant: Leigh Conley Manufactured in the United States of America. ISBN: 1-931719-85-3 ROXBURY PUBLISHING COMPANY P.O

Coors Case Free Essays

Using the Consumer Questionnaire Results, 62. 1% of consumers surveyed has consumed Coors in the past; also 48. 8% liked or strongly liked Coors. We will write a custom essay sample on Coors Case or any similar topic only for you Order Now We also learned in this questionnaire that 65. 2% bought their beer from supermarkets. From this consumer analysis, Larry could invest in Coors and make his main availability of product at supermarkets. According to the Retailer Questionnaire Results, Coors has the same taste as Miller and Miller Lite, but it is more expensive than the other brands of beer sold. B. Market Share: Using the Table C: The Market Share estimates for a five year span all stay at a constant 8. 7-8. 9%, with consideration there are only a select few brands that Coors is competing with this should not be a problem with growth in the future. C. Investment: Total investment would include the inventory, equipment, warehouse, and land is estimated at $800,000. Larry could also use his trust fund if needed, $500,000 to start an Owner’s Equity Account. D. Cost: (Fixed, Variable, Prices): Fixed Cost for Larry’s new adventure would be $240,000 that includes salaries, equipment depreciation, warehouse depreciation, utilities / telephone, insurance, maintenance / janitorial and miscellaneous expenses. Variable cost would depend on the production level. As for Prices, it is perceived that Coors is high priced but if they were to lower the price to the price of Michelob, there could be an increase of sales. E. Go or No Go: I would have to say Larry should go for Coors Distributorship. How to cite Coors Case, Papers

Write Up on American Home Products Corporation free essay sample

Write UP On AMERICAN HOME PRODUCTS CORPORATION: Company Overview Background Information: American Home Products Corporation (AHP), is a pharmaceutical company. The company was based in Madison, New Jersey, USA. They were known for manufacturing the over-the-counter (OTC) drugs Robitussin and the analgesic Advil (ibuprofen), as well as the prescription drugs Premarin and Effexor, which both boast over US$3 billion in sales annually. American Home Product Corporation (AHP), a highly growing American company, has four business lines: prescription drugs, packaged drugs, food products, house wares and household products. For a quite long time, AHP has applied a tight financial control and maintained an aggressive capital structure policy. Its mission is to make money for its stockholders and to maximize profits by minimizing costs. It has been able to finance internally its growth while paying a very high portion of its earning to its shareholders (60%) Currently, AHP seems to have no business risk but may face a certain risk in the long run. Based on the ratios shown on the attached sheet, AHP should not worry about business risk since its working capital is very healthy and have cash excess. The high ROA, high profit margin, low current-to-asset ratio and collection days show that AHP can generate cash quickly, thus it can maintain current high growth rate. However, it’s decreasing annual sales growth shows that it faces future risk of losing market shares in all its business lines if it does not foresee competition and continue to focus on increasing stockholders’ value. AHP’s current financial performance is very good since it has high ROE, high quick ratio, low debt-to-equity ratio and low debt-to-asset ratio. However, the pro forma of different debt ratios show that if AHP increases debt ratio, it will face a financial risk of increased debt-to-equity and debt-to-asset ratios. In other words, it will face solvency problems in long terms. AHP also face liquidity problems since the quick ratios decrease when the debt ratios increase. In contrast, shareholders’ value increases when debt ratios increase. EPS increases. The dividend payout ratio also increases similarly, the dividend yield as well. It seems that the company can increase shareholders’ value by increasing debt ratios. Even though AHP has a very good current financial performance, it should change the financial policy to increase debt ratio at a certain level to meet the goal of increasing shareholders’ val Major Focus Areas of the Case: ?Capital structure ?Debt management ?Financial strategy Financial analysis: ?At the end of 1980, AHP had almost no debt and a cash balance equal to 40% of its net worth ? â€Å"I just don’t like to owe money†, said William F. Laporte, AHP chief executive, when asked about his company’s almost debt-free balance sheet and growing cash reserves. Mr. Laporte had taken over as chief executive of American Home Products in 1964. Throughout 17 subsequent years of his tenure Mr. Laporte has not changed his opinion of debt financing and AHP’s abstinence from debt continued, while the growth in its cash balances outpaced impressive growth in both sales and earnings. ?At the end of 1980, AHP had almost no debt and a cash balance equal to 40% of its net worth. AHP’s Performance : ?Stable, consistent growth and profitability†¦ increased sales, earnings, and dividends for 29 consecutive years through 1981. In 1981, after 17 years as chief executive, Mr. Laporte was approaching retirement, and analysts speculated on the possibility of a more aggressive capital structure policy. Questions Answered A. How much business risk does America Home Products face? AHP has a low business risk B. How much financial risk would AHP face at each of the proposed levels of debt shown in exhibit 3? Financial risk is a function of the company’s business risk multiplied by the debt/equity (D/E) ratio. Thus the higher the D/E ratio,the greater the leverage and financial risk. The following table provides the D/E ratios at each proposed level, which indicates the factor of increased financial risk. Current structure: no financial risk Risk at 30% debt: Financial risk is roughly half of business risk Risk at 50% debt: Financial risk is the same as business risk Risk at 70% debt: Financial risk is almost two and a half times the company’s business risk. Actual 1981 Debt to Total Capital Ratio 30% 50% 70% T 47. 79% 48% 48% 48% D/E 0. 43 1. 00 2. 33 ?U (business risk) 0. 8 (approx) 0. 8 0. 8 0. 8 ?L (financial risk) 0. 98 1. 22 1. 77 C. How much potential value, if any, can AHP creat for its sharwholders at each of the proposed levels of debt? Increase in the value of the firm that means increase shareholders Benefit. A. What capital structures would you recommend as appropriate for AHP? What are the advantages of leveraging this company? Since the culture of the firm is one of frugality and conservatism, we are suggesting a 30% debt level. This would increase the value of the firm and would be more in line with its competitor’s (Warner-Lambert) debt ratio. AHP’s WACC would be reduced to give it more of a competitive advantage. A 50% or 70% debt capital structure will further enhance the value but poses higher risks. B. What are the advantages and disadvantages of leveraging a company? The advantage of leveraging a company is to increase value of the corporation. Leveraging a company will also increase earnings per share, which will most likely cause the market price of stock to increase. Also, increased stock prices will help to fend off takeover attempts. Other advantages for leveraging a company are the reduction in cost of capital, as well as tax advantage of borrowing. At a Glance advantages: Tax Shield †¢ Extra cash for expansion and stock repurchase †¢ Higher EPS (by repurchase stock) †¢Generate Shareholder wealth by increase the company value The major disadvantage of issuing debt is the increased financial risk of the company. The company may not be able be able to make payments on debt or find new lenders in the future, resulting in a higher risk of bankruptcy. The company’s bond rating may be lowered as well. Finally, the company will be at a higher risk to fluctuation on interest rates. At a Glance Disadvantages: †¢Increases the company risk structure LBO will affect the operational side of the company †¢Potential reverse effe C. How would leverage up affect the companys taxes? †¢Interest is tax-deductable †¢The more company borrows the less pays in Tax. Pro Forma 1981 for Varying Percentages of Debt to Total Capital Actual 1981 30% 50% 70% Sales 4,131. 20 4,131. 20 4,131. 20 4,131. 20 EBIT 954. 80 922. 20 922. 20 922. 2 Interest (2. 30) (52. 70) (87. 80) (122. 9) Profit before taxes 952. 50 869. 50 834. 40 799. 3 Taxes (455. 20) (417. 40) (400. 50) (383. 7) Profit after taxes 497. 30 452. 10 433. 90 415. 6 D. How would the capital markets react to a decision by the company to increase the use of debt in its capital structures? Market values balance sheet differs from accounting balance sheet in numbers. Price Per Share Actual $30. 00 30% 70% $31. 12 50% 50% $31. 89 70% 30% $32. 67 A. How might American Home Products implement a more aggressive capital structure policy? †¢More aggressive capital structure policy = increase of the portion of debt in a firms capital structure †¢Ways to implement it differs in the way company uses the proceeds from new debt issuance Repurchase of stock: Price of the stock goes up. ?Fending off takeover attempts. Offer equity-debt swap to its investors: ?Stock price will increase ?Market infers that the firm is better off Finance expansion: ?Acquisition of Stock. ?Horizontal acquisition. B. What are the alternative methods for leveraging up? Company needs to do financial leverage to its existing resources: †¢money, †¢technology, †¢h uman resource, †¢distribution channel 4. In view of AHPs unique corporate culture, what arguments would you advance to persuade Mr. Laport or his successor to adopt your recommendation? Risk Aversion tax-advantages Share Holders Benefit ?Debt increases the shareholders‘ return on their investment Tight financial Control and Centralization ?Debt protects from potential takeover Conclusion Recommendations: Even though AHP has a very good current financial performance, it should change the financial policy to increase debt ratio at a certain level. To meet the goal of increasing shareholders’ value, AHP should not use its excess cash flow to repurchase its stocks because this is only a temporary solution and may generate serious financial problems in the long run. Instead, AHP should use this excess cash to invest in profitable projects to improve its current products and launch new products that meet current market demands. By doing so, AHP can minimize the business risk, prepare itself for competition and increase sales growth. On the other hands, AHP should increase debt ratio to a certain level that is suitable for its business to increase shareholders’ value. This solution does not bring financial risk to AHP but enable it to minimize business risk. If AHP only concerns about how to increase shareholders’ value and ignores market threats, it might lose its business to its competitors. In conclusion, AHP should change the financial policy to increase debt ratio at a certain level. References: 1. Principles of Corporate Finance by Richard Brealey. 2. Capital Investment and Financial Decisions by Heim Levy and Marshall Sarnat. 3. Fixed-Income Securities: Valuation, Risk Management and Portfolio(The Wiley Finance Series) 4. Investment Valuation: Tools and Techniques for Determining the Value of any Asset, Second Edition by Aswath Damodaran