Book report Essay Example | Topics and Well Written Essays - 2250 words

Book report - Essay Example hat our inability to perform simple duties such as opening doors or switching on lights does not originate from us and we are not incompetent but rather it is because the design of the product we are using does not meet human needs and also does not take into consideration principles of cognitive psychology. This book also indicates the need for developing good designs and illustrates simple steps that can be followed to achieve this. It also highlights and discusses the situations that lead to forming of bad designs. Simple things that we use daily in our lives that are perceived to be very easy to use have now proved to be quite complicated as technology advances. An example that the author gives in the book is that of a door. The different designs that have been used in different types of modern day door have made it difficult for the author to use them. The difficulties that the author experience with the door have become popular making doors which often cause confusion to be referred to as "Norman doors" the authors name. Some designs require one to push or pull the door in a given direction while for others one needs to slide the door so as to be able to open it. The first chapter of the book influences designing positively. The author talks of important but simple aspects of design that a designer needs always to put into consideration for his or her design to be effective. Designed products need to be very safe, efficient and should satisfy individuals when it comes to actual usage. The author talks about two crucial attributes of a good design. These are discoverability and understanding. The design made should enable the user to determine what actions are doable and where and how the user can carry them out; that explains discoverability. In understanding, the user of the product should be capable of knowing what it is all about and how it is meant to be used. While designing their products designers should aim for not only beauty, but also utility,

The Effects of British Colonisation on Indigenous Australians Essay Example for Free

The Effects of British Colonisation on Indigenous Australians Essay The Effects of British Colonisation on Indigenous Australians There are many effects of British colonisation on Indigenous Australians. One of the worst impacts was the loss of land. The land is the sole provider of food, medicine and other basic needs to Indigenous Australians. It is also the main part of their spiritual and cultural beliefs. The Indigenous Australians lived ‘nomadic’ lifestyles. They lived in tribes that moved around, using only what they needed, recycling what they could, and moved on when they felt that the resources at the site had been exhausted. This gave the site time to recover and recuperate, and so, their resources never ran out. To the Europeans, land stated how wealthy the owner was, and they linked land ownership with power. The more fertile land you owned, the wealthier and more powerful you were considered to be. This, of course, did not apply to all Europeans who came to Australia, as most were convicts who were given land to farm and provide food for their community. When the Europeans came to Australia, their main aim was to build another colony, as well as find another place to situate their convicts. There were many reasons for the British to build extra colonies. These reasons include politics, religion and economics. Politics plays a very important part in colonialism. Extra colonies provided status, power and influence over the settlers, for the colonizer. This power enabled other effects of colonisation to take place, e. g. the spreading of religion Religion was a vital part of everyday life for the British. They felt that they had been ‘burdened’ with the task of having to spread their faith – Christianity. When the British had come into contact with the Aboriginals, they tried to ‘save’ them by introducing them to their religion, however, the Aboriginals had their own religion – the dreamtime. Building extra colonies also provided access to more natural resources, goods for trade and opened new markets for trading around the world. This provided even more wealth, and increased the economic status of many countries. When the British had ‘invaded’, many indigenous communities were forced off their land, which they considered sacred. In the early 19th century, many settlers took vital parts of the Aboriginal land, such as waterholes and soaks. By the 1870’s, all fertile land had been distributed. Many communities were reduced to living on the borders of British owned land, or on lands that were infertile, and considered unsuitable for settlement. As a result of the loss of land, the number of Aboriginal communities and the number of Aboriginals were greatly reduced. Consequently, they lost essential resources such as food and water, as there was less land to move around in, and less time for the land to recuperate. There are many effects of British colonisation on Indigenous Australians. Some of these were good, some others were bad, but the loss of land was one of the worst. Bibliography: Retroactive 1 – stage 4, world history. First published 1999 by John Wiley and sons Australia, Ltd. Lisa-Marie Long’s excursion booklet http://www. aboriginalart. com/aboriginal_australia. html visited on the 24/11/08 http://www. skwirk. com. au/p-c_s-17_u-504_t-1361_c-5239/QLD/5/Consequences-of-British-colonisation-for-Aboriginal-People/British-colonisation-of-Australia/Colonisation-resources/power-and-exploration/SOSE/ visited on the 24/11/08.

An Analysis Of The Asian Financial Crisis

An Analysis Of The Asian Financial Crisis The miracle that was East Asia came to a sudden halt in 1997.  After growing by an annual average of more than 8%, Asian economies not only shifted to lower gear, they even reversed course.  The collapse of the Thai baht in July 1997 sparked off a massive financial and economic maelstrom in the region.  As exchange rates and stock markets plunged, foreign debt denominated in foreign currencies soared.  Many domestic firms became insolvent, interest rates skyrocketed and credits dried up as panic by domestic and international investors ensued.  Meanwhile ethnic tensions, erstwhile contained by strong economic growth, flared up again, particularly in Indonesia.  This, in a nutshell, was the 1997-1998 Asian financial crisis. Despite prompt and concerted attempts by developing countries, industrial countries and international organization to contain it, the Asian Crisis of 1997 spread to other Asian, Latin and Eastern European economies to varying degrees. In fact, this crisis put one third of the globe into recession in 1998. The crisis raised various questions regarding, not only the future of the regions economy but also about the impact of the crisis on various multinational companies and the world. Reasons Although explanations differ, most accounts now agree that the weakness of Asian financial systems was pivotal. One scenario was that, the liberalization of capital accounts and financial systems in Asia interacted with poor and inadequate regulatory structures.  This led to rapid domestic expansion, as reflected in asset price bubbles, which in turn fuelled more borrowing.  As a result, the economy was held hostage to shocks like changing investor expectations.  When external events pricked the bubble, the spiraling increase in asset inflation became a downward spiral of asset collapses. Another scenario highlights the role of short-term maturity debt and the term structure mismatch between assets and liabilities that made these economies extremely sensitive to investor expectations.  The short-term liabilities of Asian ec`onomies were very high, with someparticularly Thailand, Korea, Indonesia, and Malaysia far exceeding their liquid reserves prior to the crisis.  This made them extremely vulnerable to sudden calls for repayments. Yet another scenario emphasizes the policies of fixed exchange rates followed by Asian governments, which encouraged over borrowing and contributed to the fragility of the financial sector.  When the US dollar appreciated against major industrial currencies, the Asian economies whose currencies were pegged to the dollar also appreciated, thus worsening their export competitiveness.  Poor export performance due to lower competitiveness was compounded by weak domestic demand from Japan, and low cyclical demand for semiconductors worldwide.  This, combined with the vulnerability of Asian financial systems, changed the overly optimistic outlook on Asia.  The stage was thus set for the currency attack and financial crisis. The question still being debated, however, is what made these economies pursue policies that rendered them vulnerable to external shocks, and what economic incentives or disincentives led to the weakening of the Asian financial structure, apparently to its very core? Although much has been written about the Asian financial crisis, two competing explanations dominate the debate over the root cause of the crisis.  One story is that the Asian financial crisis was caused by a panic-induced illiquidity of capital markets, the panic hypothesis or illiquidity hypothesis.  The other story maintains that the Asian financial crisis stemmed from latent structural defects, induced by adverse incentives, which then encouraged excessive risk taking, the so-called moral hazard hypothesis. Panic Illiquidity The panic view, simply told, is that the frenzied haste to divest out of the region resulted in costly asset liquidations, asset price collapses, domestic bank runs and the drying up of credit.  According to those in this camp, economic fundamentals, including government policies in crisis countries may have been unsatisfactory, but did not warrant a crisis.  Real exchange rates, for instance, were only slightly overvalued.  Instead, the crisis occurred because of adverse shifts in market expectations.  These shifts can generally be precipitated by almost anything like the collapse of a big bank, political turmoil or lackluster export performance.  Once panic prevails, however, sound fundamentals become irrelevant.  Market expectations are therefore the key to understanding crises. What the panic hypothesis highlights is the inherent instability of international financial markets.   Structural Defects Moral Hazards The moral hazard view attempts to explain why economies like Thailand, Korea, and Indonesia reached such a level of vulnerability that they were like disasters waiting to happen.  This view maintains that the root cause of the crisis lays in the wrong economic incentivesinduced by implicit or explicit government guarantees, connections with the powers-that-be or interlocking ownership structures-which then led to over borrowing, over lending, and over-investment. In other words, the moral hazard view places bad government policies at the heart of the crisis, even though these very policies were once lauded for achieving fast growth and material improvement for so many people.  The point, however, that the moral hazard camp tries to drive home is that the vulnerability of the Asian economies resulted from the accumulation of many years of bad habits, glossed over while the going was good.  Some of these bad habits were actually residues of the industrial policies and winner-pick ing that, ironically, was thought to have propelled these economies to tiger hood. Policy Implications from the Lessons Learnt The divide between the two views extends to policy implications for a post-crisis, global financial environment.  On the one hand, the panic camps main policy focus was on reform of the international financial system, the inherent instability of which was spotlighted in the Asian crisis.  Grand proposals like the need for an international lender-of-last-resort, an international bankruptcy court, burden sharing between private creditor and borrower alike in the event of a systemic crisis, and better provision of information to minimize uncertainty, were the major policy prescriptions of panic view adherents. The moral hazard camp, on the other hand, was more concerned with removing the incentives that gave rise to economic vulnerability.  It proposed an arms length relationship between banks, instead of the old cozy relationships.  It also advocated increased transparency and improved corporate governance, as well as the strengthening of banking supervision and regulation. Most of the policy recommendations for strengthening the international financial system focused on the following: Improving Corporate Governance Improving corporate governance means addressing the bad incentives or moral hazards stemming from certain ownership structures.  In Asia, these structures include interlocking directorships between banks and firms; family-dominated, corporate ownership; ineffective legal and regulatory frameworks; and a lack of transparency and adequate disclosure rules.  These all contributed to the overleveraged characteristics of Asian corporations.  For this reason, an effective legal and regulatory framework, coupled with strict rules of transparency and disclosure, is fundamental for sound corporate governance and efforts are going on in this direction. Financial Restructuring Closely connected to corporate governance reforms is the supervision of banks and the financial sector.  In contrast to governance issues, however, this is more straightforward.  Bank restructuring, for instance, has had a slow start but has nevertheless advanced.  Solvent firms have been closed, some banks have been recapitalized, mergers are taking place, and Asian governments have established appropriate agencies to take care of foreclosed assets.  Rules on the foreign ownership of banks and financial institutions have also become more liberal, non-performing loans are finally being tackled, and securitization attempted. Financial restructuring must go hand in hand with better corporate governance and an improved regulatory and supervisory structure.  Supervision needs to be tight and strong, professional and arms length.   Regional Cooperation The imperative for maintaining the momentum of systemic and institutional restructuring lies with national governments, but there is some scope for support at the regional and international levels.  Opportunities exist, at a regional level, for East Asian governments to engage in policy consultation and to share their experiences in reforming the corporate and banking sectors.  The formation of the ASEAN Surveillance process is a significant development along these lines.  Its main purpose is to set up a monitoring and early warning system for the region, but it also provides the institutional setting where a frank exchange of views on policy directions in ASEAN can take place and where joint action, if appropriate, can be forged.   Performance of East Asian Economies and Financial Markets since the Crisis After the outburst of the crisis, East Asia recovered at an impressive pace. For those countries most affected by this financial crunch (e.g., Thailand, Malaysia, Indonesia and South Korea), their real GDP growth rates turned from negative in 1998 to positive in 1999 and 2000, and their currency and stock markets also largely recovered. Moreover, interest rates remained below pre-crisis levels, and inflation was well controlled for some time. In addition to the favorable domestic environment for these countries, the international economy also showed an unusually strong performance, giving East Asias economy a lift. The world GDP growth rate surpassed 4.1% in 2000, more than twice the rate of 1998; and the international trade growth rate reached 11% in 2000, more than twice the rate of 1999. Two major factors appeared to explain this fast recovery: Strong U.S. economic growth and currency value. Net cash inflows in foreign direct investment and current account surplus of crisis-hit countries. Factors Contributing to Recovery Following factors appeared to contribute towards the recovery from the crisis: Strong economic growth and solid currency value of the U.S.: The economic growth and the rising import demand of the U.S. generated a positive shock and exerted a strong influence on East Asian emerging economies. We note that the U.S. recorded a strong GDP expansion after the crisis, with growth rates of 4.5% in 1997, 4.3% in 1998, and 3.8% in 1999, and the value of U.S. dollar exhibited an upward trend in those three years. Stimulated by an expanding economy and currency appreciation, the domestic demand for import went up strongly in the U.S. throughout the post-crisis period, creating tremendous export opportunities for East Asian economies. Net cash inflows in FDI and current account: In 1996, the net direct investment and other capital accounts were in surplus, while the current account was in deficit. After the crisis, massive foreign capital fled East Asia. The deficit of capital account was large, which further contributed to the instability in this region. How-ever, the net direct investment remained in surplus and the outflow in capital account slowed down considerably in 1999. In addition, the current account reversed from deficit to surplus after the crisis largely due to increasing ex-ports to the U.S. The overall cash flow balance turned from negative to positive in 1998 because of the sizable surplus in current account and the net inflows in capital account. Hence, the net cash inflows in 1998, 1999, and 2000 have helped the crisis-hit countries build up substantial foreign reserves. Conclusion The Asian crisis was an eye-opener.  The Achilles heel of the Asian economies, their financial systems finally gave in after years of excess.  What caused the financial systems to give way is still a matter of academic debate. A pragmatic reading of the crisis suggests that the bulk of the policy responses had to be carried out on the home front.  It is imperative that domestic reforms focus on both systemic and institutional restructuring.  Asia clearly needed and needs to change continuously.  It needs to be open to the West and the Western style of business, from the provision of information to business relationships.  Domestic efforts should also be supported by regional and international mechanisms.

Boston Massacre :: essays research papers

The town of Boston was a very uneasy city throughout the 1760's. This uneasiness quickly turned to belligerence in the early part of 1770. Tensions had been mounting from the beginning of the year with various clashes between British sympathizers and colonists. However, in early March the tensions erupted into bloodshed. On March 5, 1770 a small group of colonists were up to their usual sport of tormenting British soldiers. By many accounts there was a great deal of taunting that eventually lead to an escalation of hostilities. The sentry in front of the Custom House eventually lashed out at the colonists which brought more colonists to the scene. In fact, someone began ringing the church bells which usually signified a fire. The sentry called for help, setting up the clash which we now call the Boston Massacre. A group of soldiers led by Captain Thomas Preston came to the rescue of the lone sentry. Captain Preston and his detachment of seven or eight men were quickly surrounded. All attempts to calm the crowd proved useless. At this point, the accounts of the event vary drastically. Apparently, a soldier fired a musket into the crowd, immediately followed by more shots. This action left several wounded and five dead including an African-American named Crispus Attucks. The crowd quickly dispersed, and the soldiers went back to their barracks. These are the facts we do know. However, many uncertainties surround this important historical event: Did the soldiers fire with provocation? Did they fire on their own? Was Captain Prescott guilty of ordering his men to fire into a crowd of civilians?

The Salvation Army and Stakeholder Governance

As a registered charity and religious institution, the Salvation Army has been in existence for quite a long time. Though some organizations waited for the government to formulate laws that governed the use of public money, practices of transparency, financial disclosure and accountability have been engraved in their procedures even before that (Institute of policy studies, 2010). External stakeholders in the institution are found in the organization. Stakeholders in the organisation are not owners in any aspect and neither do they work in the organization but partner with the organisation in ventures that are of interest to both of them. They are called external stakeholders. Being part of the projects the stakeholders have expectations on the information they should get from the institution regarding the finance they contribute and the activities that are undertaken (Bhatia, 2007). Financial disclosures in terms of balance sheets and income statements are important to the stakeholders especially since they contribute to the kitty of the events or activities that are carried out. Salvation Army gives disclosures not only to the external but also to the public quarterly and incorporates it in the annual report. This is to show what the organization realised or achieved with the finance (Mullins, 2005). Accountability is yet another value that the stakeholders can expect from the institution. Giving details of how the money was spent and who was involved is the main objective of the value. Members of the organisation believe that they owe the Almighty God accountability and do so through financial reporting to the stakeholders and other key personnel (Bhatia, 2007). Transparency is the ultimate crown for the flawless use of resources and execution of plans. In the values of the Salvation Army, this is not left out. It reveals honesty, creates good relation between the involved parties, and is a practice of Christian code of conduct (Mullins, 2005). REFERENCES Bhatia, S.K. (2007). Management of Non-Profit Organisations. New Delhi: Deep & Deep Publications. Institute of policy studies. (2010). Defining social impact. Retrieved on 18th August 2010 Mullins, L. J. (2005). Management and organisational behaviour. New York, NY: Prentice Hall/Financial Times.

Hybrid Cars Essay Example

Hybrid Cars Essay Example Hybrid Cars Essay Hybrid Cars Essay Hybrid Cars Name: Institution: Instructor: Course: Date: Hybrid Cars General Purpose: Inform about hybrid cars. Purpose Statement: Inform the audience about hybrid cars. INTRODUCTION I. A hybrid car is one that has two sources of power. These sources are gasoline engine and electric motor. They are an alternative to gasoline cars because they are environmentally friendly. This is because they cut down on pollutants and emissions. II. Hybrid cars are also economically friendly. They save on gas and have low maintenance costs. Thesis Statement: Hybrid vehicles are efficient because they are both cost effective and environmentally friendly. Transition: Hybrid vehicles vary depending on the kind of hybrid technology that has been used in manufacturing the vehicle. Let us move to the various types of hybrid vehicles. BODY I. Various criteria are used in classifying the different types of hybrid vehicles. Hybrid vehicles are classified as either parallel or series hybrid. In the former, the engine and electric motor rotate the wheels while in the latter, the motor rotates the wheel while the engine generates electricity (Hantula Voege, 2010) The other form of classification is based on the hybrid technology that is available for the automakers. The five types of technology are Idles of hybrid vehicles are, Honda Accord, Honda Civic, Lexus RX400h, Ford’s Mercury Mariner and Toyota’s Prius. Transition: Having looked at the classification and examples of hybrid vehicles, we can move to the efficiency of hybrid cars. II. The hybrid vehicle is efficient because of various reasons. The hybrid vehicle combines the power from both its engines to give the vehicle extra horsepower. The vehicles also give relatively low emissions to the environment. There are different kinds of hybrid cars depending on the level of emissions. They are super ultra low emission vehicles and ultra low emission vehicles. Transition: Having seen how efficient hybrid cars are, we can look at their malfunction, maintenance and future of the hybrid cars. III. Little goes into the maintenance of the hybrid vehicle. Hybrid cars need less maintenance than the normal cars. Decreased wear and tear reduces the maintenance costs. This is because of technology such as regenerative braking. Its battery also receives energy from the regenerative braking. One of the malfunctions is that fixing the vehicles is relatively hard. The hybrid is a new vehicle and not many garages have embraced its technology. It is also hugely expensive to replace the battery once it wears out. Fully charging the battery also reduces its life span. In the future, lithium-ion batteries are to be used. This is because they offer a higher power density compared to the NiMH batteries. However, companies like Toyota are still trying to overcome the challenges of the lithium-ion batteries before putting them in the market. CONCLUSION I. The hybrid vehicles may have a number of shortcomings but with its benefits to the environment seem to outweigh the shortcomings. Given time and the appropriate technology, these shortcomings can be dealt with. Reference List Hantula, R., Voege, D. (2010). How do hybrid cars work?. New York: Chelsea Clubhouse. Juettner, B. (2009). Hybrid cars. Chicago, Ill: Norwood House Press.