Bacchus And Ariadne

Here, to create drama and depth, the warm hues of Aridness hair are contrasted against the white and pale blue of the sky in the background. Complimentary colors (inside Art', 2014), the rich red and blue of her gown and sash are juxtaposition's and contrasted against the pale colder greens and blues, which form the sea and landscape behind her, creating an aerial perspective (inside Art', 2014). Her face, now turned to Bacchus, is tinged with uncertainty, yet still mourning, her body and up-raised hand gesture towards the sea. Over her left shoulder is the fleeing ship of err husband Theses, who has cruelly abandoned her.However, above her head, the constellation Bacchus has promised her is a token of a happier future. Arid one's gaze directs us to the central figure of the God of wine, who, instantly enthralled by her, is depicted leaping from his chariot. In this vivid rectangle of imagery, the viewer is reminded of the past, present and the future of the unfolding story. The clas sically posed figures of Ridden and Bacchus are created using identical modeling (inside Art', 2014) techniques. Shading and glazing (Nationally, n. D. ) create the luminescence of their pale kin tone.However, most striking is Bacchus' flowing vermilion gown, which mimics the intensity of his passionate expression. To create such a dramatic depiction, Titian has employed a narrow tonal range (inside Art', 2014) and shading to highlight the striking vermilion hues, which he then contrasts against the ultramarine of the sky. These dramatic effects project the God towards the viewer, thus extending the picture plane outwards. Other devices are incorporated to keep the eye moving through the composition. Between Bacchus and Ridden, two cheetahs mimic the central subjects as hey gaze at each other half cast in the shadow.Below Aridness feet, a discarded white robe and amphora distract the gaze. Color is employed to drawn the eye away from the left of the picture space to the right, where three figures form a triangular focal point. Central to this is a nymph clashing cymbals together, her gown of complimentary hues of real and ultramarine are juxtaposition's; to her left, the faun, dragging the decapitated head Of a deer, stares out mischievously through the picture plane, and the last of the trio is the shaded muscular figure entwined with rotting snakes.

External environment Essay

Recently I celebrated New Year’s Eve with a good friend – a small business owner in the automotive spray painting industry. We did the usual. Liberal doses of food and alcohol were consumed, and there was no shortage of laughter. During the course of the evening, my friend asked, â€Å"Why it is that some people have an apparent midis touch? † It’s a question I’m often asked. Is it purely luck, or is their success a result of something more cognitive? I responded by saying, â€Å"While luck may play a role, the vast majority of the highly successful business people I’ve met over the past 25 years do one thing in common – and they do it extraordinarily well. They monitor their business environment to predict future market trends. They analyse external forces, such as their competitive environment, economic conditions, technological possibilities, political and legal forces, changes in demographics, seasonal factors, as well as shifts in social behaviour†. Basically they engage their crystal ball and they do it much better than most. Needless to say, on New Year’s Day I was feeling a tad lethargic. A restful day; it did, however, give me time to think about our conversation and the various macro-external forces which confronted Australian businesses in 2011. You could say it was a self-inflicted day of reflection. These are just a mere example of what the successful men and women, above, analyse in advance. Of course, not all forces can be accurately predicted in advance. The 2010 New Zealand earthquake disaster is a prime example. Well, what a year it was. There were many challenges presented largely by macro-external forces. Although the mainstream media were reporting that business confidence was on the rise, this clearly, from my consultation with industry, wasn’t the general consensus. Sure there were pockets of our economy which performed well – a notable performer being our seemingly ever-resilient resource sector. Australia’s ASX 200, however, lost ground in the 12-months to December 31, closing at 4745. 20. While retail trade continued to display considerable volatility, as did the automotive sector. Indeed, success in the latter two areas hinged largely around the deployment of discount pricing tactics. The Reserve Bank of Australia (RBA) progressively increased interest rates. Although these were predominantly in 25 basis point increments, they adversely affected consumer confidence when it came to purchasing large ticket items, such as domestic housing as well as non-essential luxuries. However, from a global comparison viewpoint, Australia exhibited very good buoyancy. Our currency, the AUD, had reached a 28 year historic high against the United States Dollar (USD), trading above parity with the greenback for the first time since the currency was initially floated in 1982. No doubt off-shore investment in the AUD was vigorously fuelled by the variance in comparative lending rates between the two countries. The financial attractiveness of imports caught Australian consumers’ attention, stimulated by the AUD’s appreciation. Online shopping, as a result, continued to gain popularity. More consumers than ever before were importing goods directly from off-shore retailers, in the process often avoiding goods and services tax (GST). Not surprisingly, this infuriated domestic retailers, who were not able to offer their customers’ the same loophole. Major retailers including Myer, David Jones and Harvey Norman are now investigating the possibility of enhancing their e-commerce presence, in a bid to alleviate any further sales erosion. They’re also vigorously fighting the federal government in their quest for an even playing field, with this initiative let by billionaire, Gerry Harvey. And Queensland’s peculiar weather patterns caused havoc. With many Central Queensland towns and parts of the Darling Downs being flood ravaged, sadly the recent natural disaster left many people homeless. The cost of damage, as I write, is still mounting by the hour. Needless to say, the building and automotive industries will be the beneficiaries of this tragic twist of fate. South East Queensland wasn’t left unscathed, either. Hail storms caused extensive devastation in parts, keeping insurance companies and panel beaters busy for some time to come. It’s fair to say, while panel beaters and automotive spray painters can look forward to a prosperous 12 months ahead, insurers are likely to be less optimistic about their feasibility over the same period of time. Food for thought: Here are just a number of starter questions which you might like ask yourself: 1. What is likely to happen to my business should the AUD dive back into sub-parity against the USD? 2. If interest rates rise, will this help or hinder my business? Why? 3. Are my competitors’ outperforming me? If so, what exactly are they doing which is making them more successful? 4. Are my competitors’ weak in a particular area? Am I able to capitalise upon this chink in their armour? 5. Is my business sensitive to, or reliant upon, seasonal factors? These might include specific climatic conditions. And, are these seasonal needs likely to transpire? 6. Are there any looming additions or amendments to legislation which could positively or adversely affect my business?

Benjamin Franklin and Martin Luther King Jr.

Martin Luther King and Benjamin Franklin are two well known significant figures throughout American history. King and Franklin are both similar and different In many aspects of their lives when It comes to their personal lives, such as, spouse, life, and education, their political movements, and their awards. They are good influential leaders to their followers. They both are dedicated and hard workers in what they do. Martin Luther King and Benjamin Franklins lives can be compared where both were born in the month of January.King was born on January 15, 1929 and Franklin was born on January 17, 1706. Another similarity Is that they both died In the month of April. Martin Luther King died on April 4, 1968 and Benjamin Franklin died on April 17, 1790. A difference is that King died at the age of 39 because of being assassinated and Franklin died at the age 84 because of being bed-ridden. Martin Luther King was born in Atlanta, Georgia as the middle child of the Reverend Martin Luther King S. And Alberta Williams King. Benjamin Franklin was born inBoston, Massachusetts to Franklin and Blah Folder as their eighth child. King went to T. Washington High School then after skipping two grades enrolled More house College then enrolled in Raze Theological Seminary. Franklin was educated at Boston Latin School but did not graduate due to the fact that his parents could not afford to send him for more than two years. King and Franklin were both married. King was married to Corvette Scott on June 18, 1953 and together they had four children; , Martin Luther King Ill, Dexter, andBernice King. Franklin had common-law marriage with Deborah Read and they had two children together Francis and Sarah. It later came out that Benjamin had illegitimate son name William. Maroon King was a prominent African- American Rights leader using non violent methods who was the youngest of that time to win the Noble Peace Prize. Benjamin Franklin was the president of the supreme executive council of Pennsylvania who won the Couple Medal in 1732 and a doctorate from SST. Andrews. Both men were not president of united States.King was a big figure in the marches of African Americans, such as, Montgomery Bus Boycott, Million Man March, and the March on Washington. Franklin created the Junta group, a discussion group for issues of the day and he also signed the Declaration of Independence. Martin Luther King Jar. And Benjamin Franklin well are known for many years to come as two important men that helped shaped the America that we live in today. Franklin, one of the founding fathers, and King, a civil rights leader, have both accomplished so much in their time that well always be remembered.Benjamin Franklin and Martin Luther King Jar. By teams 23 throughout American history. King and Franklin are both similar and different in many aspects of their lives when it comes to their personal lives, such as, spouse, life, born on January 17, 1706. Another similarity is that they both died in the month of Boston, Massachusetts to Franklin and Beach Folder as their eighth child. King Martin King was a prominent African- American Civil Rights leader using non violent president of United States. King was a big figure in the marches of African Americans,

SAMPLING Essay Example | Topics and Well Written Essays - 250 words

SAMPLING - Essay Example Systematic sampling on the other hand, is a sampling design that employs the technique of selecting the elements to be sampled using a fixed pattern by first arranging the elements in a certain pattern (Kalton, 1983). Additionally, stratified sampling refers to a method of first partitioning the whole population into subgroups called strata after which samples are chosen from each stratum (Särndal, Swensson & Wretman, 1992). Cluster sampling is another method of sampling where the population is divided into smaller units called clusters where the researcher randomly selects the elements to be sampled from each cluster (Thompson, 2012). This technique is useful when the population is too large. There exists various sampling situations: the population in a given country is divided into districts and a household is sampled from each group to represent the whole population. Additionally, a class with 100 students; 36 female and 64 male students. Each student’s name is listed in a sheet of paper and then placed in a bowl where they are mixed thoroughly. A paper is picked each at a time without replacement and the student’s name on the paper is

The Rocking Hourse Winner Essay Example | Topics and Well Written Essays - 1000 words

The Rocking Hourse Winner - Essay Example Looking back at the earlier events in the story, it can be seen that it was Hester; Paul's mother is solely responsible for his death. It should be noted that Hester's desire to maintain the lifestyle she was accustomed to started the voices in their house proclaiming that "There should be more money." Furthermore, it was also Hester who introduced the concept of luck to Paul. With this, the life of Paul became a quest to stop the voices and to find luck. These desires, which both originated from his mother, killed him in the end. The story started by drawing a portrait of Hester "who was beautiful, who started with all the advantages, yet she had no luck." Though this woman married the one that she really loves and was blessed with three children, there stood this deep feeling of incompleteness in her heart. Within her, there is always this strong longing for the things that she does not have like beautiful clothes, cars, jewelries, and other material possessions that only money can buy. She finds no joy in parenting as she considers her three little children as additional burden that she must live with. Even though she tries to be gently and loving to them, she knows that in the center of her heart, she cannot love them. For some reasons, her children are aware of her lack of affection and compassion to them. This is an unspoken understanding between the parent and their child: "They read it in each other's eyes." This is even aggravated that the fact that even though she leaves her longing for money unspok en, her children constantly hears her desire. As the story progresses, it can be seen that Paul developed the notion that his own mother does not love him. Her single desire is to have money. Thus, in order to win the affection of her mom, Paul devised his own way of giving her the money that she needs. It can be seen that Paul was doing everything to stop the whispers that haunts their house by generating more money. It can be seen that the little boy does this not only to quench his mother's insatiable desire for money. It can be seen that Paul is just like any other ordinary child whose main desire is to feel the warmth of his mother's affection. It can be seen that Paul associated the voices to the mother's lacking sense of completeness and contentment. The little boy assumed that if he can stop the whispers from haunting their house, his mother will stop wanting more money. This way, his mom can love him the way he really wants to. However, instead of stopping the voices in the house, the arrival of more money in Paul's house caused the whispers to become louder, asking for more money. It should be noted that the arrival of the money did not satisfy Hester. After reading the letter from the lawyer "her face become hardened and become more expressionless." She wants even more money causing Paul hears the voices growing much louder. This caused him severe depression as it signifies his failure to bring enough money. This is even worsened by the inability of the little boy to guess the winning horse in the two previous races. Thus, Paul was seized by tensions as he intensely wanted to know the winning horse for the Derby. After wildly riding his rocking horse one night, Paul was finally able to know the winning horse for the race. This might have overwhelmed him with ecstasy because this means that he will be able to bring more money into their house, stopping

Strategic Leadership Assignment Example | Topics and Well Written Essays - 3500 words

Strategic Leadership - Assignment Example The tactical implementation plan is as important as the strategic plan because it takes the vision and strategy to the point of contact.† The author likens Sun Tzu’s leadership with the European strategist, Captain Johnstone, wrote mention in his 1916 research that one must fight the enemy to uncover the enemy’s weaknesses. With the initial proving attacks, the army can engineer the main decisive attack based on the outcome of the initial attack advances. The tentative attack should not be classified as a separate attack but s part and parcel of the main attack. The initial attack is classified as the beginning of the war. Sun Tzu’s attack formation can include a surprise attack on the enemy’s seemingly formidable front to learn the true shape, and strength of the enemy’s forces. With the most suitable war strategy, the battle is 50 percent won; the strategy succeeds only with professional execution of tactics Machiavelli. In terms of Machiave lli, Maurizio Viroli2 emphasized Machiavelli focused on national interest and military objects in the war implementing several war principles. ... military resistance against absolutism.† The formidable army of Machiavelli showed strong dominance of the political as well as European military environment The strong message of the Machiavelli’s Republican patriotism is a very clear sign to re-emphasize, against the politics of the moderns, in relation to the political efforts of its leaders, also known as the politics of the ancients. Machiavellian politics shows that the word Patria is another word to mean Machiavelli republic. Machiavelli’s government is grounded on a self-governing community of individuals snugly staying together within the justice terms of the law. The Machiavelli government implements rule law, which incorporates patriotism. Clauseritz. In terms of Clauseritz, Tiha Ghyczy3 insists the conduct of war includes the important planning stage. The author states that â€Å"were this combat a single act, there would be no need for further subdivision. But combat consists of a greater or lesser n umber of individual acts, each complete in itself, which we call engagements, which constitute new things. This gives rise to an entirely different activity, namely, individually planning and conducting these engagements and joining them together to achieve the objective of the war.† The quote clearly shows that that it includes the important tactics in the governance of the constituents. Likewise, the tactics includes the many advantages of implementing a well engineered war and government strategy. The segregation of the government’s act to divide the planning stage into both the tactics and strategy is now quite a common- lace in occurrence. All individuals are reasonably sure where to classify a specific factor without necessarily taking considerable notice of the reasons underlying such

What may be the 'Best Practices' so far as Action Planning is Assignment

What may be the 'Best Practices' so far as Action Planning is concerned - Assignment Example Non-discriminatory policies increase the rate of work commitment (Australian Human Rights Commission 2014). Delivering real value to customers helps them realize that they are valued by the provider of services which increase customer loyalty. The more customer loyalty there is, the higher competitive edge is achieved by an organization over rival companies. This is why making wise investments in this area is highly valuable making it one of the best practices of an action plan (Bradt, Check & Pedraza 2011). Employers and employees should continually strive to enhance their organization’s image. This helps the people realize that focus is not only concentrated on maximizing profit. Rather, the organization is conscientious enough to protect its reputation also (Nagy & Fawcett 2013). Customers have more confidence in those companies which have a very healthy image compared to those which have cracks in their images. Australian Human Rights Commission 2014, Developing an effective Action Plan, viewed, 07 June 2014, Nagy, J & Fawcett, SB 2013, Proclaiming Your Dream: Developing Vision and Mission Statements, viewed, 07 June 2014,

Easter traditions Essay Example | Topics and Well Written Essays - 500 words

Easter traditions - Essay Example Life indeed is full of miracles. It could come to you, as it did to me this morning, with an offer to write on a magazine, or it could emerge out of a bottle of Dior that would give your skin a lasting glow, which its label promises with great authority at Sephora's open counters; that brim with lipsticks and fragrances, eyeshadow and mascara, or revitalizing lotions. I gazed at them, and even tried on a few scents just for the heck of it, dreaming about how my articles and by-lines would look in magazine print, as the painted salesgirl obligingly kept spraying little strips of paper for me to sniff,shoving the coffee pods in between that made me forget the last fragrance I had breathed in.I wandered out to the bookshop across, wondering if they do not carry any Easter eggs, but the once they did have were too plastic or too ornate, so I thought of browsing a few magazines to get a better idea on Easter eggs in vogue, and where best to get them. Of course I drifted towards the cooker y section where I was sure of   recipes for candy in the shape of Easter eggs. The girl next to me in overdone casual chic and a tad too much make-up stood   poring over a magazine, mumbling to herself, and when I passed by her I couldn't help gazing over her hunched shoulders. It was a quiz, â€Å"Is he the man for you?†, and I could tell she was seriously worried as she whipped out her neon-pink cellphone and began whispering furiously into it.The carpeting at the bookstore made me drag my feet a little, and I longed to put my sling-bag down. and sit down someplace for a cuppa. The girl at the coffee shop beamed at me the same smile she had put up for those ahead, and I settled down on a chair next to an old man with a lot on his mind, or at the very least, on his laptop. Between loud slurps on his plastic glass, where he presumably scalded his tongue each time, shook his head, and went ahead for another reckless gulp, he scribbled on a pad beside him and played around with his Blackberry. Maybe he was waiting for a wire transfer, drumming impatiently on the table, and I thought of Runaway Jury, and how I was taken with Gene Hackman, despite being the villain of the piece, or somehow because of it. The old man I sat next to was portly and appeared scatty. I soon lost all thoughts of Hackman, and let my gaze roam around in search of a possible candy shop. Having detected none by the time I had dragged the mocha to the last sip, I decided maybe the little shops across the road that I had spotted on my way here could be a likely source of holiday eggs. I loitered out, the edgy separates at the A/X Exchange on the way drawing my eye. I bought a staple scarf in discreetly

Warranting Theory in Actio Assignment Example | Topics and Well Written Essays - 500 words - 1

Warranting Theory in Actio - Assignment Example This information found in social sites. Other people who know you better send comments and statements describing you which you can not change. These cues make communication understandable and enhance the creation of relationships among people. They are normally positive and one can clearly know and believe the content (Potter, 2007). It includes use of positive cues and sentences must be complete to enhance clarity. In my aunt’s face book profile for instance, her close friend commented that she is pretty. This has instances of less or no non verbal cues, incomplete use of sentences and words, spelling errors and improper English or language. One barely understands what the other person means because the communication becomes unclear, more manipulated and less believable. The processing of information becomes somehow or totally impaired (Potter, 2007).My aunt for instance send me this comment in my face book account, ‘I love reading.’ Reading is a hobby which she attributes it to self and I know she is not a passion of it. This information is therefore untrue. The first student described his profile to have low warrant which is not true. He sent a picture of my three friends and me in an Oregon Ducks game. The picture portrays us being in sports and funs of the Oregon Duck which does not apply to all of us. The warrant in this case is a high one (Potter, 2007). This shown by posting his personal information including his name, school information, his birthday and where he came from (Potter, 2007). However the information about his schooling and where he comes from is untrue. The warrant identified by this student makes sense. The similarities between his warrant and the one I discussed above is that of unreal information which can easily be manipulated. The second student posses a high warrant. He posted his profile, birthday, place of birth and the school where he

GAAP VS IFRS Essay Example | Topics and Well Written Essays - 750 words

GAAP VS IFRS - Essay Example The United States corporations will benefits by converting from GAAP to IFRS. One, IFRS allows extra flexibility than United States GAAP, and because stock option and bonus schemes normally offer managers incentives to enhance earnings, this flexibility will probably be utilized to enhance the income of U.S corporations more frequently than it will be employed to lessen earnings. Two, converting to IFRS from GAAP will give the corporations in America more responsibility in the area of asset valuation as a complete discretion that is also likely to enhance the earnings of U.S corporations. Finally, in the field of research and development costs and the associated field of homegrown intangible asset valuation, IFRS is more liberal than GAAP. IFRS permits only development costs to be integrated in the assets of the corporations, thus, not expensed against earnings (Ciesielski, 2008). Question 2 One, Acquired intangible assets under GAAP are identified at fair value. In contrast, under I FRS, it is solely identified if the asset has measured dependability and will have an imminent economic gain. Here, IFRS will be the most beneficial method to financial statement users. ... Here, IFRS is the most beneficial method. Finally, The conditions for revenue recognition and revenue under IFRS and GAAP are somewhat dissimilar. GAAP gives extra specified guidance than IFRS (Ciesielski, 2008). Therefore, GAAP is the most beneficial method to financial statement users in this case. Question 3 One, there are a number of unknown risks that United States corporations will encounter. These unknown risks are also not predictable to experts. Two, IFRS offers little guidance on specified application and interpretation of the standards. This definite difference from existing practice will require corporations in United States to employ additional judgment in understanding specific standards and their purpose to the business activities of the corporations. Finally, even if the duration experienced by external auditors remains unchanged, more expert senior personnel may be needed to assess the corporations’ management application of verdict, thus, affecting the levera ge of audit engagements and staffing mix. Three techniques may be used to overcome these obstacles. One, there should be consistent and comprehensive accounting standards that communicate economic reality to a corporation. Two, a corporation should have sufficient corporate governance practices which will guarantee suitable internal controls and adequate execution of accounting standards. Finally, there should be effective and efficient audits which will allow external dependability to the information prepared by a corporation following referred standards (Ciesielski, 2008). Question 4 Two long-term conversion issues on accounting for leases by the lessees are leasehold improvements and percentage rent. Leasehold improvements are lastingly fixed

Cybercrime in Todays World Essay Example for Free

Cybercrime in Todays World Essay I have been asked to write a paper concerning cybercrime in the world today. I will go over what cybercrime is, how much it is affecting the United States, possible ways of enforcement and why or why not enforcement would be effective. What is a cybercrime, in your own words? Cybercrime is using computers or technology in order to steal information or to create fake identities over the World Wide Web. It is a growing problem in the world today, especially in countries like China, Japan and the United States where populations are high. Phone scams are another type of cybercrime as people will try to glean vital information from another by pretending to be a grandchild or a salesman. Cyberspace allows people to invade another person’s or company’s computer and download sensitive materials such as social security numbers, birth certificates and tax information. What is the extent of cybercrime in the United States? Computerescape. om says that â€Å"Cybercrime is widespread throughout the United States with 73% of American internet users being victims of cybercrime, either through viruses, online credit card or identity theft†*. With over 300 million Americans in the US, that comes out to 219 million Americans that have been or are currently victims of a cybercriminal. Most of the victims of identity theft are infants and the elderly. My own infant cousin had his social security number stolen shortly after his death. It took several months to recover it. How do you think we should control / enforce cybercrime? I personally believe that the only way to control cybercrime is to attach a major virus to sensitive files, so that when an unauthorized person tries to access it, it attaches itself to that person’s computer, downloads any information regarding the owner of the computer, sends that information to the authorities, and finally scrambles all data on the computer. The authorities will then be able to make an arrest and unscramble the computer so that evidence can be obtained. The offender should then have an appendage cut from their body on national television, so that others thinking of committing the same crime will hopefully be deterred. If the person should offend again, then they should be stoned until dead by the people that they have stolen from. Do you think enforcement can be effective? Why or why not? I don’t think that any type of enforcement would be effective as tracking anything in cyberspace is time consuming and if the person was determined enough, they would find a way around the enforcement. Security cameras are an excellent point. You can have the main points of a store being watched by cameras, but the only places you have issues with theft is in the cameras blind spots. A security system will alert you if someone comes in through a door or window, but isn’t programmed to respond if a person decides to cut a hole in the wall or ceiling and enter the premises without ever tripping the system. If someone wanted to commit a robbery and they knew that a police patrol car passed by every 45 minutes, they would wait until 10 minutes after the patrol car had passed and then rob the business, knowing that it would be at least another 10 minutes before police could respond. Criminals will always find a way to circumvent the enforcers of the law.

Financial Analysis of Northrop Grumman Essay Example for Free

Financial Analysis of Northrop Grumman Essay The fiscal analysis of Northrop Grumman includes the examination of profitability, liquidity, and equity ratios, its 3 year stock price, as well as a general financial overview of the company. This case study exams their fiscal strategy as well as the debt utilization and possible effects of the fiscal crisis on Northrop Grumman. This document compares Northrop Grumman to other companies in the defense sector by comparing their ratios as well profitability. The paper will provide the reader with an understanding of the financial makeup of the company and its current and recent performance as well as estimates of future earnings. Overview of Northrop Grumman Northrop Grumman is one of the world’s major defense contractors. Northrop Grumman is an innovative company that has long history of making aircraft and other products that support the defense industry. Northrop Grumman is made up of the former Northrop and Grumman companies and eighteen other companies that have been integrated into one successful corporation. Northrop Grumman has four primary sectors in its business model: aerospace systems, electronic systems, information systems, and technical services. The company has its headquarters in Falls Church, Virginia, and production facilities across the United States, with major facilities in California, Virginia, and Maryland. Northrop Grumman is the third largest defense contractor in the world. Some of Northrop Grumman’s primary competitors are Lockheed Martin, Raytheon, Boeing, and L-3 Communications Holdings, Inc. Northrop Grumman plans on remaining competitive even with the threat of sequestration looming over the federal government and the threat of an additional $500 Billion in defense cuts above the currently planned $500 billion in defense cuts. They plan on remaining competitive by being able to successfully develop and market their products, to stay ahead of the competition. This is done by reaming innovative, and providing the facilities and people to accomplish these goals of developing and manufacturing new products and support businesses and governments in information technology. History of Northrop Grumman Northrop was founded in 1939 by Jack Northrop in Hawthorne, California. The company produced its first aircraft in 1940, the N-3PB patrol bomber for the Norwegian Air Force. The first production aircraft for the United States Army Air Force was the P-61 Black Widow. They continued developing aircraft for the United States Air Force, competing in the bomber contract in the mid-1940s for the long range heavy bomber contracts using his radical flying wing designs of the XB-35 and XB-49, which were in competition with the B-36 and B-47. This was a highlight of Jack Northrop’s development of technologically advanced aircraft. In 1959, they had the first flight of the F-5 a supersonic low cost fighter that would serve as the basis of the T-38 supersonic jet trainer for the USAF, and later on the F-20 an upgraded version of the F-5. They also designed the US first ICBM the Shark. They continued with development of many programs culminating with the B-2 Spirit Stealth Bomber, currently the most advanced and expensive bomber ever built for the US Air Force. In 1994 they acquired the Grumman Corporation and became Northrop Grumman. The Grumman Corporation started out in the 1930 was instrumental in the development of Naval Aircraft. They built the XFF-1, built in 1931, was the first naval aircraft with retractable landing gear. The built the widely successfully naval fighters the Wildcat with the first ever sto-wing and the Hellcat one of the most successfully carrier aircraft of World War Two. Grumman continued to develop aircraft for the United States Navy, developing the F9F Panther, one of the United States Navy’s earliest jet fighters. Grumman continued to develop jet aircraft, including the A-6 Intruder family of aircraft for the Navy, as well as the F-14 Tomcat, made famous by the movie Top Gun. Most notably the Grumman designed and built the Lunar Lander for the Apollo program. Key Products Northrop Grumman is primarily involved in four related by also distinct industries which are also their core competencies. They are involved in aerospace systems, electrical systems, information systems and technology systems. Involvement in these key areas allows them to focus on their customers’ needs for unmanned air systems; command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR); logistics, and cyber security. The company is currently involved in a many major programs for the Defense Department. They are producing the RQ-4 Global Hawk an unmanned air system (UAS) that is the only UAS that is allowed to fly in US airspace. They are also developing and producing active electronically scanned array radars for the F-35 and F-16 as well as a multitude of electronic warfare systems like the US Navy’s Next Generation Jammer. The Lightning family of advanced targeting pods is also a key program within Northrop Grumman, with the L ightning Generation four reaching its 250th produced unit. Northrop Grumman is also developing the X-47b for the US Navy, which would give them a stealth carrier launched unmanned combat air vehicle, which would be the first for the US Navy. This aircraft also made history, by being the first unmanned combat air vehicle to accomplish a catapult launch, on 29 November 2012 at the Naval Air Station Patuxent River, Maryland (McKinney 2012). Northrop Grumman is also a partner with Lockheed Martin in building major components to the F-35 Lightning II Joint Strike Fighter Program, specifically the center fuselage and weapons bay. They also participate in the civilian sector with the flat sequencing system for the US Post Office, and information systems for the Department of Homeland Security and public 911 services. Financial Condition Northrop Grumman is a financially secure company that is looking to maintain its current status quo. According to their Value Line Report they were given an A++ rating for financial stability. Value Line is also estimating their 2012 revenues at $25100 million, which represents a decrease of $1312 million. Even though the company’s revenues have decreased since 2010, they have been able to maintain their strength in the defense industry. They are still the third largest defense contractor; even with their recent sell offs of Newport News and Huntington Ingalls Industries, Incorporated. This sell off, the drawdown in the Iraq and Afghanistan, and the decreases defense spending has led to a decrease in revenues however according to Value Time, their revenue in 2013 is estimated to be $2,500 million a decrease of only $100 million. Northrop Grumman also carriers a middle grade bond rating of BBB+, BBB+, and Baa+ from the 3 major bond raters, S P, Finch, and Moody’s. These rating show that Northrop Grumman is stable company with an average stock price for 2012 of $63.13. Northrop Grumman Fiscal Strategy Northrop Grumman’s corporate strategy can be explained in the 2011 Annual Report opening quote from CEO Web Bush, â€Å"2011 was an outstanding year for Northrop Grumman, affirming that our focus on performance, portfolio alignment and effective cash deployment continues to create value for our shareholders, customers and employees and position our company positively for the future.† This quote states the overall direction that CEO Web Bush is taking Northrop Grumman into the future. The key to this strategy is Northrop Grumman focusing on performance. An example of this was an earnings per share increase of 17% on diluted shares to $7.41 (Northrop Grumman 2011). In 2011, with the spinoff of their shipbuilding division, they were able to provide, $1.6 billion in equity to their shareholders (Northrop Grumman, 2012). These actions have all been to provide the most benefit to their shareholders. Northrop Grumman is also focusing in on the new strategies that the Department of Defense is pursuing, with over 90% of their business with the DoD and the US government by focusing in on the growth areas of the DoD. C4ISR, unmanned systems, cyber security, and logistics are leading the way as the new focus of Northrop Grumman as they are the portions of the DoD that will continue to grow with the current budget issues facing the Obama presidency. They are also continuing its focus on their aerospace division which is the most profitable, since Northrop Grumman is a prime contractor on the F-35 and the F/A-18, as well as the builder of the Global Hawk. They are also seeing the US budget problems as an ideal point to start pursue the international market place more, like the recent sale of Global Hawks to the North Atlantic Treaty Organization (NATO). Their continued focus of on stockholder’s value means they need to focus on their key priorities of unmanned air system, C4ISR, logistics, and cyber security. Another part of Northrop Grumman’s strategy is making minor and major acquisitions into other companies allowing them to expand their business, which in turn will help increase stockholders value. They will from time to time create strategic alliances, form joint ventures, and dispose of or spinoff companies when they believe that these actions will aid in creating more value for their stockholders. Northrop Grumman’s strategic plan is to continue to focus on increasing shareholder value as well as to continue to maintain their cutting edge in technology and in the defense industry, and to develop systems that will support the DoD new strategies as US forces leave Afghanistan and begin to focus on the Pacific Region. The current fiscal crisis that is gripping the US, with large cuts to the defense budget, expiration of the George W. Bush tax cuts, increased tax rates, cuts to social programs, and new taxes from the Patient Protection and Affordable Care Ac 2010, will directly affect Northrop Grumman at all levels. However, Northrop Grumman is in a position to succeed with the cuts and tax increases and the possibility of another $500 billion in budget cuts to its largest customer, the Department of Defense in the event of sequestration, because of the companies diversity within the defense market and their mix of being the primary contractor and a subcontractor on many contracts. They plan on continuing their focus on their core industries needs of the DoD. Northrop Grumman also believes that their business is well positioned within the US government, because of the diversity of programs they are working on like the F-35 Lightning II, RQ-4 Global Hawk, Minute Man III upgrades, next generation jammer, and other classified programs. These programs, with their importance to the US DoD will allow Northrop Grumman to remain viable during the fiscal crisis, and remain profitable. They also believe that a deal will be reached averting the crisis, and allowing business to continue. Northrop Grumman’s Weighted Average Cost of Capital Northrop Grumman has a weighted average cost of capital of 8%. This represents the low cost at which Northrop Grumman is able to procure financing. They currently have been buying back shares, which are increasing shareholder’s equity by making each share worth more; as well they have been utilizing debt effectively. They particularly have been using bonds to buy back stock as well as for financing capital programs. They use the weighted average cost of capital as a tool in determining discount rate and terminal value assumptions. The weighted cost of capital takes into consideration the relative weights of the components of their capital structure. This is used to measure the costs of new capital, and with a weighted average cost of capital at 8%, Northrop Grumman seems to balance in its approach to capital which is a sign of a mature and financial stable company. Profitability Northrop Grumman has been a profitable company over the course of its history. In 2002 their profits were $697.0 million and a Value Line estimate of $2,005 million for 2012, which are almost three times the profits of 2002. These recent profits can be attributed to the operations in the Middle East, particularly the wars in Iraq and Afghanistan, which have increased profits in every major defense contractor. Northrop Grumman plans to remain profitable during the defense cuts from 2011-2021 by continuing their excellence in their product development, manufacture and support. Failure in any of these areas will have a negative effect on their profitability. They also need to ensure that their contracts are completed on time and on budget, to ensure that with some of the current contracts and political environment that either they do not get canceled, or that they do not have continue on with their own funds. Other things that could affect profitability would be a failed rocket launch or failure of a product that cannot be fixed causing a contract to be canceled. Northrop Grumman’s net profit margin has also increase since 2002. In 2002 their net profit margin was 4.1% and has increased gradually to an estimated 8.0% in 2012. However, Value Line estimates that their net profit margin will decrease to 7.3% in 2013 and fall to 6.8% till at least 2015. The gradual increase in profits is attributed to the wars in the Middle East, where there has been an increased demand on their products, but the estimated decrease will be a result of the winding down of operations in the Middle East and the fiscal crisis enveloping the US Government. Even though their profits and net profit margin is planning on decreasing in 2013 and beyond according to Value Line, Northrop Grumman will remain profitable and thereby allowing to focus on their strategy of performing well for their shareholders. This increase in profitability is in line with their strategy of performance particularly with their stock price, which investors take the firm’s profitability into account. This has resulted in an average return on capital of 9.2%. Their return on capital is estimated to continue this increase rate through 2017 at 11.5%. Northrop Grumman’s EBITA Margin for 2011 is 14.26% at $3,304,000 million which has been increasing since 2010 and should continue to steadily increase even with the future budget uncertainty in the US government. Dividend Policy Northrop Grumman is also a stable company because of its dividend policy. Northrop Grumman offers a quarterly dividend and has been paying a dividend since 1943 except for 1949-1950. The dividend payouts for 2012 were $0.50 for the first quarter and $0.55 for each subsequent quarter, totaling $2.15, with earnings per share of $7.40 estimated for 2012 resulting in a 29% dividend payout ratio. When compared to other companies in the defense industry, Northrop Grumman is on par with its main competitors in regards to a dividend payout ratio with Boeing having a 2011 dividend payout ratio of 31% and Lockheed Martin of 41% in 2011 (Tortoriello, 2012). In 2011, Northrop Grumman was able to allocate $2.8 billion to give back to shareholders by repurchasing stock and through dividends. These strong cash flows in 2011 were a result of the spinoff of their shipbuilding industry, and $26,412 million in sales. The company is continuing its share repurchasing in 2012 with $290 million allocated to repurchase 13.6 million shares, with $2.0 billion left in that program (NOC earnings release, 2012). This along with the $2.15 dividend in 2012 represent Northrop Grumman strength as a company and their resolve to focus on their shareholders, by buying back stock, making it worth more and continuing to raise their dividend. Prior to the 2000s Northrop Grumman conducted its dividend policy like a utility with dividends that did not change its payout year to year. This all changed when Ron Sugar became CEO of Northrop Grumman in 2003. He began a program the resulted in stock buyback programs and was able to double the dividend payout during his tenure. CEO Sugar was able to raise the sales per share, however this did not result in an increase in the share price, which a low of $33.80 (Forbes, 2011). Northrop Grumman through their current CEO Wes Bush has increased their emphasis shareholder returns. He was able to the do by increasing dividends by an average of $0.13 per year and an average dividend of $1.78, since 2007. The 2012 dividend will be $2.15 with the fourth quarter paid on Dec 31, 2012. Northrop Grumman’s dividend policy is to continuously provide a dividend to its shareholders and to continuously attempt to increase the dividend as well. Another part of Northrop Grumman’s dividend policy is the stock buyback program. Northrop Grumman has been doing this since 2010, since they have excess cash from the spinoff of Newport News and Huntington Ingalls Industries, Incorporated, the shipbuildin g portion of Northrop Grumman and recent bond issues to buy back stock, in lieu of issuing a higher dividend. Corporate Bond Policy and Debt Usage Northrop Grumman uses corporate bonds like many other companies, for acquisitions, capital expansion projects, and refinancing existing debt. They currently have nine bond issues out with interest payments ranging from 1.85-7.81% with maturity dates from 2014 to 2040. Its current credit rating from SP, Fitch and Moody’s is BBB+, BBB+, and Baa1. These rating mean that Northrop Grumman has a lower medium grade rating, however according to Moody’s their debt metrics are at the high end of their current class of debt. Their current long term debt on 31 December 2012 will be $3,935.0 million (Value Line, 2012). Since 2009 they have paid of $256.0 million towards their long term debt. In 2011, Northrop Grumman paid $2,692 million in interest payments, according to their 2011 Annual report. They are projecting paying $207.0 million in 2012, which is lower than 2011, but that number is likely to rise at least through 2017. In November of 2010, Northrop Grumman issued a tender offer to buy its bonds back for a total of $2.119 Billion of bonds from its subsidiaries. Concurrently, they have a public offering of senior unsecured debt securities for debt repayment, pension funds, acquisitions, share repurchases, and working capital. On 15 February 2011, Northrop Grumman had a bond issue of $750 million at maturity with an interest rate of 7.125%. Moody’s has not down or upgraded Northrop Grumman’s bond rating, due to a large order of RQ-4 Global Hawks to NATO, and because of a $4.0 billion share repurchase plan. That sale could have a positive effect on their bond rating. All in All, Northrop Grumman has had numerous bond issues, and is currently using its latest one for a multitude of purposes. Industry Comparison Northrop Grumman is one of the top five defense companies in the world with defense revenues in 2010 of $31,181 billion (Tortoriello, 2012). Northrop Grumman as the one of the leading defense contractors in the world and is on par with or exceeding its competitors. Comparing the profitability of Northrop Grumman to its peers in the defense industry, we can take a look at figure 1 and compare profitability ratios of Northrop Grumman with the averages in their industry group. The median return on assets (ROA) for the search and navigation equipment is 7.10%, Northrop Grumman currently has a ROA of 7.45% as of 31 Dec 2011, and their current ROA is 5.72% as of 30 September. Using 2011 numbers, Northrop Grumman is slightly more profitable than the other firms in its SIC industrial grouping. Northrop Grumman is also effective in how they finance their activities, by using a mix of bonds, stock options, and other forms of financing. As of 2011 their total debt to equity ratio is 0.38 when compared to the industry average is of 84.40 is significant because it shows little financing Northrop Grumman is using at this time, however, they are still have a decent bond rating of Baa1 from Moody’s and Value Line has their financial strength listed as A++. The industry average for the quick ratio is 2.00. Northrop Grumman’s 2011 quick ratio was 0.97. With a quick ratio below one, this shows that Northrop Grumman is highly effective at creating cash from its investments and work activities. In examining these ratios; it shows that Northrop Grumman is a highly successful and stable company that would present a low risk investment to an investor. However, it is to be seen what the possibilities of sequestration and cuts to the military have on these ratios and the profits and low debt that Northrop Grumman has during the 2000s. Stock Price Analysis Northrop Grumman is a publicly traded firm on the New York Stock Exchange, under the symbol NOC. As of 14 December, 2012 they currently have 254,000,000 shares of common stock outstanding. They currently have zero preferred stock and $3,935 million currently in bonds. According to Northrop Grumman’s last cash flow statement, they paid $543 million in dividends. As of 15 November 2012, the board of directors decided to issue a quarterly dividend of $0.55 per share payable 12 December 2012. Northrop Grumman since 2009 has paid an average dividend of $1.83. They also have repurchased $2,194 million in company stock, and they have been doing this for the past few years as another way to compensate their investors besides dividends. Northrop Grumman over the past thirty-six months has seen its stock rise and fall and continue on that path with an average volatility of 2.0. The low volatility of their stock is representative of a stable company, and stable stock prices, that would attract conservative investors, and give new investors faith that they will receive a decent return on their money. Northrop Grumman during this time has since its stock prices with a high of $71.87 and a low of $49.26. The few really large troughs in the wave that the stock price creates is August of 2011 and fall of 2009. These troughs represent the low times for Northrop Grumman’s stock, but during these times there stock has been steadily climbing specifically after Wes Bush took over as CEO and began to focus on improving the share price as well increase the performance of the company. These dual actions have led to an increase in their share price as well helping the company reduce debt, and increase capital to deal with the impending financial crisis that could possibly lead to another recession. As of 14 Dec 2012, Northrop Grumman is trading at $67.37 (yahoo finance, 2012); they have consistently been trading in the upper $60s since July of 2012, when the stock price was rising from a low of $57.29 in June of 2012. Northrop Grumman stock has been rising because of the good ratings they have received from numerous media outlets, such as Value Line and Yahoo Finance. The rise in stock prices and favorable rating can be attributed to the company renewed focus on its core industries and the spinoff of its ship building subsidiaries. Their performance has increased under the leadership of their current CEO Wes Bush. Their stock prices have also remained stable in recent months, because of the strong cash presence, which is adding investor friendly initiatives such as a raising the dividend and repurchasing stock, as well as lobbying for new contracts, like the $30 million post office contract and the NATO contract to buy RQ-4 Global Hawks. Lastly, Northrop Grumman is one of the more stable companies with an estimated EPS in 2012 of $7.40, down $0.01 from 2011, which is indicative of a stable company that is meeting or exceeding its performance estimates. Currency Risk Northrop Grumman is exposed to foreign currency risk; however they are not at a great risk to fluctuations in foreign currency. They are exposed to the risks of foreign currency from their international operations. They mitigate foreign currency risk by entering into foreign currency forward contracts as to manage portions of receipts from international customers and payments that may be have to made to international partners. As of 31 December 2011 Northrop Grumman had $233 million in foreign currency forward contracts outstanding (Northrop Grumman, 2011). With $26,412 million in sales in 2011, (Northrop Grumman, 2012), $233 million is not very significant, and they believe a 10% change in interest rates of foreign currency exchange rates would not have a significant effect on the financial position or effect their operations. Capital Markets Northrop Grumman will be affected by the volatility and disruption the domestic and international credit markets. Northrop Grumman access these markets from time to time when they need capital to support capital expansion projects, refinancing of existing debt, and for evolving lines of credit. With the current fiscal crisis in the US and Europe, will make it difficult for Northrop Grumman access credit on favorable terms or at all which will have an adverse effect on the fiscal standing. They are at risk, because of counterparty default because they deal with bankers and brokers in the credit market, when they have need for more capital. Their suppliers are also at risk with the volatility and disruptions in the credit markets from the fiscal crisis. If their ability to access credit on favorable terms, or at all could adversely affect Northrop Grumman by forcing them to change suppliers, which could lead to them to be unable to meet their contractual obligations. This could cause delays in programs or force them to find other means to assist their suppliers to support their contracts. Northrop Grumman has also entered into credit agreements amounting to an aggregate principle of $2 billion. This is a revolving door 364 day credit agreement that will help them cover costs over the short in the event of a decrease in cash. This revolving line of credit is based on many rates, including the LIBOR or an alternate rate. Northrop Grumman will be facing issues in the credit market, due to the fiscal crisis in the US, and the instability in the federal budget and the looming threat of sequestration, which will directly affect the credit markets. However, the slow growth rates of the US economy, and economy remaining on the brink of falling back into recession has kept interest rates low, which is an attempt to make credit easier to access. Conclusion Northrop Grumman is a leading defense contractor in the United States that has four main business areas, aerospace systems, electronic systems, information systems, and technical services. They are involved in many products that are used or are in development for the Department of Defense, from the RQ-4 to new electronic warfare systems. Northrop Grumman currently receives 90% of its revenues from the US government, primarily from military contracts. They are also a very stable company that has been increasing their dividends over the past few years, as well as having a steady stock price that has been increasing as well. Their currently a lower medium grade bond rating, rated at Baa+ from Moody’s. They have a strong history of supporting the US military with a multitude of historic aircraft and systems that support these aircraft. Northrop Grumman will continue to excel within the looming threat of sequestration and $1 trillion in budget cuts to the defense budget over the next ten years. All in all, Northrop Grumman is a leader in the defense industry and will continue to be a profitable company during the drawdowns in the Middle East and the defense budget cuts facing the US armed forces. References Defense System Staff (2012) NATO inks $1.7B deal for Block 40 Global Hawks, 1105 Media, Vienna, VA. Retrieved on November 10, 2012 from http://defensesystems.com/articles/2012/05/21/agg-nato-global-hawks-contract.aspx. Dobosz, John (2012) Half A Trillion In Pentagon Budget Cuts Turns Defense Stocks Into Dividend Darlings, Forbes, Inc. Retreived on November 12, 2012 from http://www.forbes.com/sites/johndobosz/2012/05/25/superior-firepower-pays-fat-dividends/ Harrington, Robert L. (2012) Value Line Northrop Grumman. Value Line Publishing. Retrieved on November 20, 2012 from http://www3.valueline.com.ezproxy.libproxy.db.erau.edu/secure/vlispdf/stk1700/index.aspx. Mergent (2012) Mergent Online General Company Information, 2012. Retrieved November 15, 2012 from www.mergentonline.com. McKinney, Brooks (2012) Northrop Grumman, U.S. Navy Conduct First Catapult Launch of X-47B Unmanned Aircraft, Globe Newswire. Retrieved on November 29, 2012 from http://www.irconnect.com/noc/press/pages/news_releases.html?d=10014076. Movius, Steve (2012) Northrop Grumman Reports Third Quarter 2012 Financial Results. Falls Church, Va. Northrop Grumman (2012) 2011 Annual Report. Falls Church, Va. Thompson, Loren (2011) How Northrop Grumman Aims To Outperform, Forbes, Inc. Retrieved on November 29, 2012 from http://www.forbes.com/sites/beltway/2011/01/10/how-north rop-grumman-aims-to-outperform/. Thompson, Loren (2012) Northrop Grumman Finds A Formula That Will Work In Hard Times, Forbes, Inc. Retrieved on December 11, 2012 from http://www.forbes.com/sites/lorenthompson/2012/12/11/northrop-grumman-finds-a-formula-that-will-work-in-hard-times/?partner=yahootix. Tortoriello, Richard (2012) Industry Surveys, Aerospace and Defense. S and P Capital IQ Industrial Surveys, New York. Retrieved on November 25, 2012 from http://www.netadvantage.standardandpoors.com.ezproxy.libproxy.db.erau.edu/NASApp/NetAdvantage/index.do. (2012) Industry Browser Industrial Goods Aerospace/Defense Major Diversified Company List Yahoo Finance. Retrieved on December 8, 2012 from http://biz.yahoo.com/p/610conameu.html. (2012) Moodys Disclosures on Credit Ratings of Northrop Grumman Corporation , Services, New York. Retrieved on November 3, 2012 from http://www.moodys.com/research/Moodys-Disclosures-on-Credit-Ratings-of-Northrop-Grumman-CorporationPR_243144. (2011) Moo dys says Northrop Grummans $4 billion share repurchase authorization wont impact ratings, Moody’s Investor Services, New York. Retrieved on November 10, 2012 from http://www.moodys.com/research/Moodys-says-Northrop-Grummans-4-billion-share-repurchase-authorization-wontPR_218143. (2012) Northrop Grumman Corp. Ford Equity Research, Retrieved November 30, 2012 from www.fordequity.com. (2012) Northrop Grumman Corp. Mergent Corp. Retrieved on December 12, 2012 from www.mergent online.com. 2012 D B ratios, SIC 3812. Retrieved on December 5, 2012 from http://www.mergentkbr.com.ezproxy.libproxy.db.erau.edu/index.php/reports/industry (2010) Northrop Grumman Announces Cash Tender Offers for Debt Securities and Commences Debt Offering. Los Angeles. Retrieved on November 10, 2012 from http://investor.northropgrumman.com/phoenix.zhtml?c=112386p=irol-newsArticleID=1489734highlight=. (2012) Northrop Grumman, Yahoo Finance. Retreived on October 30, 2012 from http://finance.yahoo.com/q/bs?s=NOC+Balance+Sheetannual. (2012) Northrop Grumman Corporation, numerous Moody’s reports. Moody’s Investor Services. New York. Retrieved on November 1, 2012 from http://www.moodys.com/credit-ratings/Northrop-Grumman-Corporation-credit-rating-558850. (2010) Northrop Grumman Announces Cash Tender Offers for Debt Securities and Commences Debt Offering, PR News Wire, Los Angeles. Retrieved on November 27, 2012 from http://www.prnewswire.com/news-releases/northr op-grumman-announces-cash-tender-offers-for-debt-securities-and-commences-debt-offering-106442983.html. (2012) 3 Defense Companies To Buy Ahead Of A Fiscal Cliff Compromise. Retrieved on December 9, 2012 from http://seekingalpha.com/article/1053621-3-defense-companies-to-buy-ahead-of-a-fiscal-cliff-compromise?source=yahoo.

Rene Descartes And The Existence Of God Philosophy Essay

Rene Descartes And The Existence Of God Philosophy Essay In meditation III, Rene Descartes says that he is certain that imagination and perception do exist since they exist inside his mind as consciousness modes. However, Descartes says that he can never certain whether his perceptions and imaginations have any truth basis. He expounds on his argument about Gods existence from the discourse. Descartes analyzes his mind so as to know whether there exists anything that would let him make God up. Descartes realizes that he is finite compared to God who is infinite, perfect and all powerful. His argument says that its impossible for a being like him who is to dream about infinity and he thus concludes that the idea of infinite has to come prior to the idea of being finite or prior to any persons thought of what he or she is. The Argument There exist three kinds of ideas; innate ideas, factitious ideas and adventitious ideas. The innate ideas are those thoughts that are and have always been within us, the factitious or invented ideas on the other hand are the thoughts that arise from our imagination, while the adventitious ideas are the thoughts that arise from the world experiences. The idea of existence of God is an innate one and must have been placed inside us by a supernatural being that is, God. There is no way that the idea of Gods existence can be an invented one or an adventitious idea. Nothing comes from nothing, so everything must have come from something. The cause of any idea has to have leastwise much proper or formal reality as it has an intent or objective reality. Inside a person like me there exists an idea of a supernatural being referred to as God, and this is an infinite objective reality. As a human being who is finite, I cannot be the cause or origin of this idea, because I am not an infinite and am also not a perfect being. Another reason is that; as a person, I lack adequate formal reality and only an infinite and a perfect supernatural being is capable of causing such an idea. That is why, God, who is possess infinite objective reality must be in existence so as to be the source of my idea about God. Since in my idea, the supernatural being or God is absolutely perfect, he has to be a benevolent being. Benevolent beings do not lie and God being so, he would never mislead me and He would not allow me to error, and if I did, he would give me a way for me to correct my errors. For me to have any idea, first I have to exist, which I do and my existence has to have a cause or reason. The possible definitive causes of my existence can only be I or my always having been in existence, my parents who are some beings that are less perfect compared to God, and God Himself. This is a very valid argument because, if it was not, then I ought to have created myself, which I did not and if I created myself, I would have created myself being perfect. Since I was created, then I am a dependent being and thus, I have to be continuously sustained by another being that is more superior. Also, the idea in me that perfection exists, must have arisen from a perfect being, therefore God exists. Descartes argues that he has a perfect and trenchant thought of God. In a similar manner cogito is axiomatic, so is the existence of God, as his impeccable idea of an impeccable being could not have been brought about by anything to a lesser extent than an impeccable being. If an individual exists, then there must be a source for his or her being. Descartes talks about the likelihood that an individual is answerable for his or her being. He further argues that this cannot be a possibility because of the concept that if humans created themselves, in their own image, then, they would not have created all the lure, deception and sin that presently continues to trouble humanity. If humans created themselves, they would make themselves to exist without nuisance or suffering. The other argument that hints that God exists brings forth the idea that people have at all times existed. Descartes invalidates the argument since, an individuals existence presently cannot reflect that individuals previous existence. It is ignorant to presume that just because we have always existed, that it is an adequate explanation for our origin. Only a lazy philosopher can come up with such an argument and he must not have cared enough to dig for answers. Explaining the existence of God by mentioning an individuals parents, could have been done by a lazy philosopher who never researched for more answers. An individuals parents got their children to this world through the birth process which is an enough physical explanation on how human beings come to exist. Just as Descartes explains, there exists something beyond the assumption on the physical explanation of the existence of human being and that this explanation causes an infinite regress. This can be evident when one resear ches an individuals family tree one would keep on being referred to another parent and another parent and another parent. This could continue endlessly because human beings have existed for a very long time and thus it is okay to conclude that a human alone cannot be responsible for the existence of the entire human race. Also, if the tracking of individuals went back long enough, they would get to the Supreme Being who created Adam and Eve as they are known as the first parents. Descartes views that it is necessary to establish that there exists God and that he cannot be a cheat in so as to take away some of the basis for doubt (36). Descartes argues that the historically acknowledged cosmological argument is itself is misleadingly simple, but it depends upon a set of eminences and terms. So when one misleads an individual other than oneself, it is being done for the sole purpose of gaining in ones own interest. God is all knowing, the creator of all things and is in control of everything that has happened in the past and things that will occur in the future. For those very reasons there is no reason from him to deceive anyone because there is nothing more for him to gain. (32) Humans fall into error because of our souls. If our souls are the source of light and matter is the source of evil. Then a being like God evil demon- would be just as equal as our evil genius. These could make him believe that what he grasps clearly and distinctly is true when in rea lity; there is no truth about it. Descartes argues about res extensa as well as res cognitans. He says of himself as a thinking being and further says that res cognitans can come into being because if a pair of trenchant things can be formed, res cognitans can be formed individually from an essence, and that essence is the res extensa. On the other hand, the material constituent is the crux of the res cognitans. Most probably the mind is well off with an extension or esence. Res extensa is a thing of extension since it is res cognitans place. The evidences for the being of God are determined by distinguishing res cognitans from res extensa. Normally, God does not possess res extensa but possesses a soul that is worth to be the creator and origin of other lives, and the all caring and loving being. At some stages, res extensa or extension assists res cognitans, but it usually happens that res cognitans independently exists. When a person dies from this universe the res cognitans is conveyed to a different universe as the res extensa is not alive and it encounters little or nothing or does nothing. Thence, the constructs of res cognitans and res extensa evidently winds up the best proof that God exists; Rene Descartes is successful in proving the existence of God.

The Twelve Tribes of Israel: An Organizational Movement :: Twelve Tribes Israel Essays

The Twelve Tribes of Israel: An Organizational Movement The Rastafarian Movement has been one of the most important movements of our time. It has proved to us that it is possible to make lemonade out of the lemons that are dealt to us, and that violence is not the only way to deal with troubles or get what you feel you deserve. It has also provided a system of faith and following for over 700,000 loyal people. A Social, political and religious explosion with as few negative connotations as possible, Rasta is just about as good as it gets. Like all religious trees, Rasta has branched out into a variety of sub-movements, such as Nyabinghi, the Ethiopian National Congress or Bobo dreads, and the Twelve Tribes of Israel, just to name a few. The Twelve Tribes are especially interesting because they believe in salvation for all races, whereas the doctrines of other Rastas are exclusive to Blacks, primarily because of the very roots of the religion: Whites making slaves out of them. While this idea may seem quite revolutionary, there are other aspects of this movement that are completely receded. Frankly, the faith resembles its influences of Christianity and Judaism more than Rastafarianism, in a lot of instances. The purpose of this paper is to shed a little bit of light on the widely unknown subject of this interesting and persistent movement. First I will discuss the history of the Twelve Tribes of Israel, an ideal embraced primarily and whole-heartedly by the Jews. The name 'Israel' comes from heaven. Most of us, when we hear the word ‘Israel’ think only of the Jews. But from the beginning they have had to share this title with a great many others, because in scripture the House of Israel consists of twelve tribes and the Jews are just one of those twelve. Jacob was just an ordinary guy, living long before the birth of Jesus Christ. He had 2 wives who were sisters, and two slave-wives. Between them were born 12 boys. One night while these kids were young, an angel came to Jacob and they spent the entire evening wrestling. The angel was God. Suprisingly, God didn’t annihilate this mere human, and the match ended in a stalemate. God then changed Jacob’s name to Israel, which means, "rebel". Who else but a rebel would physically fight with the angel of God? The Twelve Tribes of Israel: An Organizational Movement :: Twelve Tribes Israel Essays The Twelve Tribes of Israel: An Organizational Movement The Rastafarian Movement has been one of the most important movements of our time. It has proved to us that it is possible to make lemonade out of the lemons that are dealt to us, and that violence is not the only way to deal with troubles or get what you feel you deserve. It has also provided a system of faith and following for over 700,000 loyal people. A Social, political and religious explosion with as few negative connotations as possible, Rasta is just about as good as it gets. Like all religious trees, Rasta has branched out into a variety of sub-movements, such as Nyabinghi, the Ethiopian National Congress or Bobo dreads, and the Twelve Tribes of Israel, just to name a few. The Twelve Tribes are especially interesting because they believe in salvation for all races, whereas the doctrines of other Rastas are exclusive to Blacks, primarily because of the very roots of the religion: Whites making slaves out of them. While this idea may seem quite revolutionary, there are other aspects of this movement that are completely receded. Frankly, the faith resembles its influences of Christianity and Judaism more than Rastafarianism, in a lot of instances. The purpose of this paper is to shed a little bit of light on the widely unknown subject of this interesting and persistent movement. First I will discuss the history of the Twelve Tribes of Israel, an ideal embraced primarily and whole-heartedly by the Jews. The name 'Israel' comes from heaven. Most of us, when we hear the word ‘Israel’ think only of the Jews. But from the beginning they have had to share this title with a great many others, because in scripture the House of Israel consists of twelve tribes and the Jews are just one of those twelve. Jacob was just an ordinary guy, living long before the birth of Jesus Christ. He had 2 wives who were sisters, and two slave-wives. Between them were born 12 boys. One night while these kids were young, an angel came to Jacob and they spent the entire evening wrestling. The angel was God. Suprisingly, God didn’t annihilate this mere human, and the match ended in a stalemate. God then changed Jacob’s name to Israel, which means, "rebel". Who else but a rebel would physically fight with the angel of God?

Technology and the Human Genome Project :: Essays Papers

Technology and the Human Genome Project Technology is changing the way the world works in profound ways at an unprecedented rate. As we speak, scientists in labs around the world are decoding the remaining portion of the genome map. One day (even now), with the information compiled in GenBank, scientists can discover new drugs, new methods of gene therapy, and other preventive measures which will vastly improve the quality of life (NCBI Â ¶1). David Smith, previously a director of the Department of Energy, said, "These are exciting and challenging times for biological researchers. The wealth of information and capabilities now being generated by the various genome projects and other biological endeavors will lead over the next two decades to more insights into living systems than have been amassed in the past two millennia. Biology is truly undergoing a revolution" (Walters 545). There are only two major problems facing researchers in their efforts to put the massive amounts (terrabytes) of data generated from the Human Genome Project (HGM) to use. The first and most prohibitive problem is cost. Over a billion dollars have already been sank into the project, which was spent on both developing new technologies to make the gene sequencing process more efficient and cost effective, and of course the actual gene mapping (Pennisi 82). Although the expense is extreme, the HGM is popular enough that funding is still available. Countries who were not previously involved are gaining interest in the project. Japan, for example, has a proposed budget of $570 million to invest in genomic research, which is, "considerably more than the U.S. National Human Genome Research Institute expects to spend" (Normile et al. 84). The second problem facing scientists is the current lack of computer hardware and software that are powerful enough to effectively use the data that is being gathered. One area of genome research that requires more advanced technology is proteomics, which is the study of protein interactions (for an in-depth explanation of proteomics, visit www.npr.org and listen). "New developments in bioinformatics would enhance the ability of researchers to manipulate, collect, and analyze data more quickly and in new ways" (Pennisi 85). Considering the fact that the number of proteins is predicted to be in the millions, new computers and technologies that can process such large amounts of data efficiently must be developed. New and unplanned uses of the technologies developed from genome research are being found.

Afghanistan :: American America History

Afghanistan The King was overthrown in 1973. Muhammad Daoud took the power as President of the Afghanistan. He established an autocratic, one-party state, later had purged his government of leftists, and in the last years of his rule had sought financial support form Iran, ruled by the Shah, and Saudi Arabia in order to make Afghanistan less dependent on Soviet economic aid. On April 28, 1978, the regime of President Mohammad Daoud ended violently. Military units raided the Presidential Palace, in Kabul. Killed the president and most members of his family. All happened after the assassination of Mir Akbar Khyber, April 17, a Marxist ideologue a member of the Parcham faction of the People's Democratic Party of Afghanistan. (PDPA) was a Marxist-oriented party. On April 19 the party organized a mass rally and march in the honor of Khyber's funeral. Marched through the streets of Kabul and shouted anti-American slogans in front of the United States embassy. President Daoud ordered the arrest of seven top PDPA leaders. The PDPA Central committee member Hafizullah Amin was placed under house arrest shortly. He planed a coup d'etat. PDPA leaders were liberated from a government prison. The plan for the April coup, according to Amin in a press conference that it had occurred two years ahead of the PDPA's schedule for revolution. Taraki, Amin, and Karmal were the central player in the leftists' revolution of the Afghanistan. Taraki was born in 1917, was the oldest. His father was a livestock dealer and small-time smuggler. His family's described by Dupree in Nyrop (pg. 218) as semi nomadic, traveling frequently between Ghazini Province and British India. He attended a provincial elementary school and a middle school in Qandahar and was. He began to write short stories. In 1940s his stories refluxing the living condition of Afghan peasants, which approved by Soviet critics as Scientific Socialist themes. Amin was born in 1921, in Paghman, a town near Kabul. His father was a minor civil servant. After study mathematic and physics at Kabul University, he became a high school teacher and later promoted to the principal position. In 1957, through a scholarship he went to study at Teacher's College at Columbia University, in New York. He returned for further studies and that time he joined with students who were interested in Marxism. *Karmal, was born in 1929, a member of the social and political elite. He was a son of General Muhammad Hussain Khan, who served as governor of Pakita Province and had close ties with the royal family.

Advertisements: How Do They Persuade Us Essay

Advertisements are part and parcel of our lives. Perhaps, they are one of the most decisive and, at the same time, imperceptible factors moulding and channelling our â€Å"purchasing habits,† so to speak. On the face of it, advertisements promote products and services; they create demand by dint of inducing and increasing consumption. Yet, the ways in which they convey their messages have a profound effect on all aspects of our lives: our happiness, our culture, family and interpersonal relations, business, stereotypes, wealth and status, individuality, and so forth. According to Leiss et al. (1990: 1), advertising is ‘a â€Å"privileged form of discourse†Ã¢â‚¬â„¢, in that it can attract our attention, insinuating itself into our thought processes and carving out a niche in our lives. As we shall see, advertisements succeed in selling us a lot more than merely products; in fact, they contrive to reconstruct our relations to things and other people—in short, they interfere with our sense of identity, they equate us with things, and manipulate us. Williamson’s observation succinctly encapsulates their power: ‘Advertisements are selling us something else besides consumer goods: in providing us with a structure in which we, and those goods, are interchangeable, they are selling us ourselves’ (Williamson, 1978: 13). In the present study we are concerned with how advertisements, or rather ‘ad men’, to quote Packard (1957), persuade us to buy their products, and exploit our â€Å"hidden† needs—both processes taking place beneath our level of awareness. See more:  First Poem for You Essay In searching for more effective ways of persuading people to buy goods, a great many merchandisers or ‘probers’ (Packard, 1957) turned to psychologists in order to gain insights into the deepest recesses of the psyche and the factors that motivate people, and then to capitalise on their expectations and fears. Equipped with this knowledge, ad men nowadays exert a remarkable influence on people’s habits and conceptualisation of the world and themselves in relation to values—values which are, in great measure, determined by the marketplace. Packard (1957: 14), perhaps one of the most vehement critics of â€Å"the hidden persuaders† who have ensnared us by appealing to our unconscious or subconscious needs, eloquently captures the â€Å"state of the art†: The symbol manipulators and their research advisers have developed their depth view of us by sitting at the feet of psychiatrists and social scientists (particularly psychologists and sociologists) who have been hiring themselves out as ‘practical’ consultants or setting up their own research firms. These ‘motivation analysts’ have definitely become our shamans who, ‘having helped to inspire the fear of the devil [in us], [they offer] redemption’ (Bolinger, 1980: 2) by means of the products they sell. They are not only interested in moving their merchandise off the shelves; they are actually seeking out powerful communicative cues, ‘a discourse through and about objects’ (Leiss et al. , 1990), which will weld together people, products, and cultural models. In view of this, ‘we no longer buy oranges, we buy vitality. We do not buy just an auto, we buy prestige’ (Packard, 1957: 15). The sale of ‘self-images’ (ibid. ) is now the norm. Advertisements barely focus on products alone; it is the prospective buyers that they make â€Å"overtures† to—which is mirrored in the language used and in such features as the colours in the ad, its layout, and so on (we will consider some of these aspects in due course). As Ewen (1976, cited in Leiss et al. 1990: 23) notes, advertisers have effected a ‘self-conscious change in the psychic economy’ by inundating the marketplace with suggestions that consumers should buy goods in order to enter realms of experience previously unfamiliar to them. Gradually then, advertising has become a ‘highly organized and professional system of magical inducements and satisfactions’ (Williams, 1980 [1962], cited in Leiss et al. , 1990: 25) which can sell us emotional security, reassurance of wealth, ego-gratification, creative outlets, love objects, a sense of power and roots, and immortality (see Packard, 1957: 66-74 for further details). Many people would, at this juncture, hasten to defend advertising on the grounds that the consumer is a rational decision maker who avails herself of technology; advertising cannot create new needs but can only help increase or speed up consumption (Schudson, 1984, cited in Leiss et al. , 1990: 36); and without the help of advertising, consumers would have limited information about the products circulating around them. What they lose sight of, though, is the fact that ‘[w]e never relate to goods only for their plain utility; there is always a ymbolic aspect to our interactions with them’ (Leiss et al. , 1990: 45). Now that we have briefly outlined the â€Å"state of the art,† we move on to the actual study of advertisements and the ways in which they persuade us. There are many approaches to this end, but we will draw upon two: semiology, or the study of signs, and content analysis. Semiology, on the one hand, is concerned with the emergence and â€Å"movement† of meaning within the text and between the text and the world surrounding it. Content analysis, on the other, focuses on the surface meaning of an ad, detecting similarities and differences. Indisputably, the growing predominance of visuals in ads has resulted in a kind of ambiguity of meaning, which renders the interpretation of the message more complex and challenging. Earlier advertisements explicitly stated the message by describing the product and adducing arguments in its favour. In the 1920s, however, visuals were more frequently used, and these two, text and visual, became complementary. Still, in the 1960s, the text shifted away from describing the visual toward a more elaborate and mystic form, whereby it functioned as a â€Å"key† to the visual (Leiss et al. 1990: 199). Against this background of radical changes in the form and content of advertisements, the abovementioned approaches, semiology and content analysis, offer us an insight into the structures of ads and help throw light on the subtle elements, expectations and assumptions, with which they are imbued. Roland Barthes (1973, cited in Leiss et al. , 1990: 200-201), following Ferdinand De Saussure’s tradition, divides a sign into two components: the signifier and the signified. The signifier is the material object; the signified is its abstract meaning. Let us illustrate this with Barthe’s own example: Roses signify passion or love. If we analyse their â€Å"meaning,† we have three elements: the signifier—the roses; the signified—passion or love; and the sign—the â€Å"passionified roses† as a whole. Of course, there is nothing inherently â€Å"passionate† or â€Å"amorous† about roses; they are viewed as such within the context of western culture. In another culture, roses could signify something different, even the opposite of passion or love. Thus, any interpretation of advertisements from a semiotic perspective is bound up with cultural norms and values which may be at odds with those operating in different cultures or different systems of meaning. After all, the power of advertisements lies in, and appropriates, these very norms and values, with a view to reconstituting reality, while â€Å"tinging† it with an arcane suggestiveness and elusiveness. Drawing upon several advertisements, we will endeavour to probe into the ‘probers’’ minds, weaving the two approaches together. More specifically, we will focus on the rhetorical devices employed (e. . , metaphors, metonymy, jingles, etc. ), as well as the ways in which the text and the visual element prevail upon us to react, i. e. , to buy the product (e. g. , their proclivity for creating a problem, only to consign it to the â€Å"omnipotence† of the product, their spatial arrangement, etc. ). Unfortunately, an in-depth analysis is outside the remit of this study. Let us consider the following ad: A black Ford Zetec covers two pages in the magazine, while the text reads: â€Å"When the lorry in front loses its load, most drivers would find themselves losing control. Not if you’re driving the new 2. 0 litre Ford Focus Zetec ESP. One of the first cars in its class available with an Electronic Stability Program. ESP constantly assesses the angle you are steering against information received from sensors on the behaviour and direction of the car. By reducing engine power and braking individual wheels it helps you to maintain control and stability, allowing you to stay on track. It’s almost like it knows what to do before you do. So sit back, enjoy the ride and expect more. † And the motto just above the car is: â€Å"just steer. This common, albeit â€Å"catchy,† ad addresses the prospective buyer directly through the use of the pronoun you. What is more, the strategy it employs is that of creating a problem—or rather setting a scene familiar to many a driver (â€Å"When the lorry in front loses its load, most drivers would find themselves losing control. †) Only in the first sentence is there any mention of â€Å"most drivers†Ã¢â‚¬â€apparently in order to juxtapose them to you, the prospective buyer. â€Å"You† are not like â€Å"most drivers† because â€Å"you† are driving â€Å"the new 2. 0 litre Ford Focus Zetec ESP. Another device employed in the ad is the use of personification, as in â€Å"ESP constantly assesses†¦it helps you†¦It’s almost like it knows†¦Ã¢â‚¬  The new Ford Focus is more of a jinee in a bottle waiting for you to rub it than merely a car. All â€Å"you† have to do is â€Å"sit back, enjoy the ride and expect more,† revelling in the security its omnipotence affords. Finally, the pun in â€Å"just steer,† referring to the actual steering of the vehicle and, only obliquely, to the idiom â€Å"to steer clear of,† consciously or unconsciously, dares us to pop into the car and drive, reminding us of our inability to resist the temptation vs. he omnipotence of the vehicle. As Williamson observes, ‘puns perform the correlating function seen in all ads, but in a way that begs to be deciphered†¦condensation draws together both the denoted and connoted meanings of the ad, therefore making a deterministic connection between them’ (Williamson, 1978: 87). Yet, not all ads are so straightforward and direct. Let us examine the following ad (found in Williamson, 1978: 25). The ad shows Catherine Deneuve’s face and a Chanel No 5 bottle. There is no text linking these two; they are simply juxtaposed. But are they really linked, in the first place? One could say that they are supposed to be linked, in terms of an assumption that they are inextricably related. This link, though, is arbitrary, drawing upon our knowledge of a glamorous world of films and magazines, which Deneuve has come to be associated with. Thus, in juxtaposing her face, which signifies beauty and glamour, with Chanel No 5, there is a â€Å"latent† transference of meaning from Deneuve’s face to the product, and back again. Not only is her face rendered an object that is summoned to â€Å"argue† in favour of the product, but it also depends on that product for the beauty and glamour ascribed to it. Here, the use of language is irrelevant, as the ad appropriates the relationship obtaining between signifier (Catherine Deneuve) and signified (glamour and beauty). In other ads, the visual, not only complements, but virtually transcends, the text, to convey a meaning which is not always easy to decipher. Consider the Gordon’s Gin ad, where there are two different photographs of a famous actor of the 1950s, the second one being obviously altered to the point where the actor is barely recognisable. On the left side of the first photo, there is a text in italics, reading: Gordon’s is made with the pick of the Tuscan Juniper. On the right side of the second photo, the text written in a regular typeface reads: â€Å"Other gins are made with what’s left. † Finally, at the bottom of the page, there is a Gordon’s Special Dry London Gin bottle in the middle of the sentence: â€Å"If you’re not drinking (bottle of Gin) what are you drinking? † Apparently, the significance of the ad resides in assumptions and values outside its ‘grammar’ (Williamson, 1978). First of all, the juxtaposition of the two photographs appropriates the general belief that a good photograph means good quality, which then invites the reader to make the connection between he quality of the first photograph with that of the product through the association of the text in italics with the first picture, and the regular text with the second. Furthermore, the thin typeface (i. e. , italics) stands in stark contrast to the regular text, as it is associated with glamour and prestige and arouses â€Å"elegant† feelings. So, the last sentence â€Å"If you’re not drinking (bottle of Gin) what are you drinking? † could easily be rephrased as: â€Å"If you’re not one of those who prefer our gin, then who are you? Once again, the product is â€Å"put on a pedestal,† while tinkering with our desire for approval, that is, suggesting to us that we will find our identity only if we indulge in it. In addition, the use of the calligram, i. e. , the picture of the bottle, instead of the words naming it, establishes the product as something that has a substance all its own, which is beyond words. As Williamson (1978: 91) has noted, the calligram playfully seeks to erase the oldest oppositions of our alphabetical civilisation: to show and to name; to figure and to speak; to reproduce and articulate; to look and to read†¦[It is a] double trap, an inevitable snare.

Growth and Development in Chhattisgarh: a Credible State

Chhattisgarh :Credible state with incredible potential Introduction Creation of the State of Chhattisgarh The creation of Chhattisgarh on November 01, 2000 fulfilled the demand for separate statehood that was originally raised in 1925 and subsequently rejected in the post independence era by the State Reorganisation Commission set up in 1954. The ‘Madhya Pradesh Reorganisation Act 2000’ was eventually passed by both houses of Parliament and approved by the President of India on August 25, 2000. This paved the way for the creation of the 26th State of India on November 01, 2000.The creation of the new State of Chhattisgarh has succeeded in granting a sense of identity to its people and has provided them with the unique opportunity to chart their own destiny. General Profile Chhattisgarh located in central India has been carved out of the sixteen eastern and south-eastern districts of undivided Madhya Pradesh. It is a landlocked state bound in the north by Uttar Pradesh an d Jharkhand, in the east by Orissa, in the south by Andhra Pradesh and in the West by Madhya Pradesh and Maharashtra.Chhattisgarh is the tenth largest State in India with an area of approximately 135000 sq kms. The state now consists of 27 districts in 5 divisions with capital in Raipur and high court at Chhattisgarh. The population of the state as per 2001 census is 2,55,40,196(prov. ) In terms of population the State ranks 16th. 80% of the total population lives in rural areas. A large portion of the State’s population comprises of tribals, scheduled castes and scheduled tribes. State has a population density 189 which is fairly low as compared to India.Sex ratio is 991 per thousand of males and ranks 5th in India in this regard. The literacy rate is 71. 04% which is still quite low. Competitive analysis of Chhattisgarh For a comprehensive analysis of the state it is important to assess the State’s potential in terms of its inherent strengths and weaknesses. The SWOT analysis which I am going to present is not intended to be exhaustive. However, it is indicative of some of the primary issues that the State will need to contend with, going forward with its strengths and opportunities. . WEAKNESSES ThreatsThe absence of large local markets, skilled labour, adequate physical infrastructure and low urbanisation are some of the key weaknesses of the State. Landlocked and limited local markets As a virtually landlocked area, the State has to depend heavily on its road and railway network, which is to a considerable extent limited. Additionally a large rural population coupled with low per capita income limits the size of the local market. However, a few cities in the State have demonstrated the potential to develop into substantial local markets, which is evident from their current levels of per capita spending ? Low telephone density The telephone density in the State is low as compared to the national average. This particularly inhibits the effici ent functioning of the service industry that depends heavily on Information and Communication Technology (ICTs). Opportunities Low skilled labour The relatively low level of industrialisation in the State has limited the development of skilled labour. The current availability of skilled labour is further restricted to select industries only due to the absence of a divergent industrial base Limited physical infrastructureState still have vast area of undeveloped land and regions that have been untouched by modern development. While this is the result of years of prior neglect in developing proper physical infrastructure but now constitutes the weakest link in the progress towards economic development Frequent droughts Although the average rainfall in Chhattisgarh compares well with several other states, neglect of traditional water preservation practices in recent times has led to frequent droughts. Further, the proportion of irrigated area in the State is only 16 percent of the t otal cultivable area.There is however, potential to raise the proportion of irrigated area to 75 percent of the total cultivable area Low urbanisation The State ranks low on urbanisation index with limited number of urban centres, which are confined to central Chhattisgarh. Low urbanisation and lack of adequate physical infrastructure are the key reasons why Chhattisgarh is low on national perception, and also ranks low on development indicators along with the perceived potential for development. THREATS Over dependence on natural resourcesThe State must take care to use its natural resources judiciously. An emphasis on balanced and all-round development would be essential to ensure environmentally sustainable growth. Having said that, there is little doubt that the optimal utilisation of natural assets holds the key to State’s development process Political compulsions Political will at all levels is a must to enable any kind of change. Any disruption in the pace or direct ion of proposed reforms could hamper the swift movement towards economic development Suspicion of and opposition to changeThe people of the newly formed State being accustomed to prior neglect, may look upon any kind of change with doubt or suspicion. The State must, in the spirit of participatory democracy, take steps to build consensus and infuse a sense of confidence in its people with specific reference to the objectives, direction and pace of economic development While it is absolutely essential to understand the weaknesses and threats (significant but not exhaustive), it is the aggregate of strengths and opportunities that infuses the State and its people with a sense of optimism about the future.STRENGTHS Rich natural resources Undoubtedly the biggest strength of the State, Chhattisgarh used to contribute 46% of mineral revenues to undivided Madhya Pradesh and is ranked second in the list of mineral producing States in the country. It has rich deposits of limestone, iron-or e, copper-ore, rock phosphate, manganese ore, bauxite, coal, asbestos and mica. In fact Chhattisgarh, along with Orissa and Jharkhand constitute over 80% of the nation’s coal reserves. Chhattisgarh also has proven reserves of diamond – which can, in the future, be a large source of income for the State.Although the State already has a substantial presence of core industries, a large part of the mineral potential is yet untapped, providing Chhattisgarh with a unique opportunity to use its mineral wealth to spur economic development. Apart from minerals, Chhattisgarh also possesses a large forest cover encompassing approximately 44% of the total geographical area. However, the true potential of the minor forest produce is yet to be assessed and utilised. The State has abundant but untapped water resources – essential for harvesting the potential of agriculture. Surplus power Chhattisgarh is fortunate to be one of the few States that are currently power surplus. Th is could be an important criterion for Industrialists making project and investment decisions, to Chhattisgarh’s advantage. Presence of low grade coal makes Chhattisgarh an ideal location for setting up of low cost pit head based thermal power plant, capable of generating power to meet the requirements of other States . By exploiting its unique location along with large coal reserves, Chhattisgarh has the potential to become the power generating hub of India Favourable labour climate Though the relative skill base is low, the presence of a large number of willing and able-bodied people contributes to the presence of a substantial workforce. The State has a high worker participation rate (male and female) and a high labour force in the 15-39 age group. It also has one of the lowest losses in person-days in the country attributed to labour problems Relatively low land cost With a lower population density and urbanisation ratio, the State would be able to offer land at extremel y competitive prices for some time to come ? Fiscal position The fiscal deficit situation of the State is currently under control. It also has reliable sources of public finance and possesses no deficit on account of either the State Electricity Board or Road Transport Corporation. This is contrary to the situation in other states, wherein these agencies are the principal contributors to the fiscal deficit. Political Leadership and Bureaucracy The number of bureaucrats and government employees compared to the other States in the country.This has also resulted in one of the lowest expenditures in the country on government functioning. The presence of a strong, committed and focussed leadership is an asset. OPPORTUNITIES ‘New State’ advantage The fulfilment of the demand for a separate State has given a new sense of identity and pride to the local people. Being a new State and with limited legacies of the past, this is a historic opportunity for Chhattisgarh. It can lev erage on this status to undertake reforms and frame policies to aid rapid social and economic development.No past legacies provide the State with an opportunity to prepare policies which are based on contemporary economic principles and which help create responsive governance. Location advantage The geographic location of the State is strategic – it borders seven states in the country. NH-6, which connects the west to the east, passes through some of the most industrialised areas of the State. Chhattisgarh could use this geographic locational to its advantage to develop a logistics and warehousing network to service the region. Demand for Energy in the countryWhile the rest of India faces acute power shortages, the same is not true of Chhattisgarh. Further, in view of the presence of large coal reserves in the State and the fact that it is situated in the middle of the national power grid makes it an ideal location for setting-up coal pit-head based thermal power plants. P artnership The State recognises the opportunity of an increasingly borderless world and the resulting benefits of forging partnerships with national and international communities, private and developmental institutions to spur economic development. Value additionCurrently a large part of exports from the State is in form of raw material (across minerals, agriculture and forest produce). The state could capitalise on the abundant availability of basic raw material to encourage setting up of processing units for ensuring value addition and subsequently increasing avenues for employment and enhanced income Service industry India has made rapid strides in the service industry in the past few decades. The State could potentially capitalise on these areas of country advantage, specifically in the field of information and biotechnology.It is precisely this aggregate of strengths and opportunities that gives the State a positive and optimistic outlook on the future and the confidence to d raft its Vision Statement. ————————————————- Chhattisgarh Economy The union ministry of Statistics, has included Chhattisgarh as one of the top four states posting 10. 8 per cent GDP growth during 2011-12. It may be termed as a ‘big success', as this was the third year the state has maintained over 10 per cent GDP growth which is more than the national average of 6. 5 %.Chhattisgarh’s success factors in achieving high growth rate are growth in agriculture and industrial production. Agriculture Sector Agriculture is counted as the chief economic occupation of the state. About 80% of the population of the state is rural and the main livelihood of the villagers is agriculture and agriculture-based small industry. The majority of the farmers are still practicing the traditional methods of cultivation, resulting in low growth rates and productivity. The farmers hav e to be made aware of modern technologies suitable to their holdings.Providing adequate knowledge to the farmers is essential for better implementation of the agricultural development plans and to improve the productivity. When a very substantial portion of the population is dependent on agriculture, a situation where nearly 80% of a state's area is covered only by one crop, immediate attention to turn them into double crop areas is needed. Also, very few cash crops are grown in Chhattisgarh, so there is a need to diversify the agriculture produce towards oilseeds and other cash crops. Chhattisgarh is also called the â€Å"rice bowl of central India†.Chhattisgarh has a limited  irrigation  system, with  dams  and  canals  on some rivers. Average rainfall in the state is around 1400  mm and the entire state falls under the rice agroclimatic zone. Large variation in the yearly rainfall directly affects the production of rice. Irrigation is the prime need of the st ate for its overall development and therefore the state government has given top priority to development of irrigation. Industrial sector Power sector Chhattisgarh is one of the few states of India where the power sector is effectively developed.Based on the current production of surplus electric power, the position of the State is comfortable and profitable. Strategically located in central India, Chhattisgarh's large surplus of power can be easily transmitted without losses to any of India's four grids. Chhattisgarh is in the chronically deficit western grid, and is linked to the southern and northern grids. Chhattisgarh provides electricity to several other states because of surplus production and its power hubs are  Korba  and  Bilaspur. Korba in Chhattisgarh is really the Power Capital of India.Apart from NTPC and State Electricity Companies, there are a number of private generation units of large and small capacity. The state government has pursued a liberal policy with regard to captive generation which has resulted in a number of private players coming up. As per a study made by the Power Finance Corporation Ltd. , New Delhi, the state has potential of 61000 MW of additional thermal power in terms of availability of coal for more than 100 years and more than 2500 MW hydel capacity. To use this vast potential, substantial additions to the existing generation capacity are already under way.Non conventional energy sources have been accorded very high priority. A special agency called CREDA (Chhattisgarh Renewable Energy Development Agency) has been set up, and over 1200 villages in dense forests are being electrified using off-grid energy. Micro-Hydel power potential is also being tapped in a big way, and several projects have been identified for viable private investment. Chhattisgarh is emerging as the Power Hub of India – which has the capacity to cover half the demand-supply gap in the entire country. Steel sector The steel industry is on e of the biggest heavy industries of Chhattisgarh.Bhilai Steel Plant, operated by  SAIL, with a capacity of 5. 4 million tonnes per year, is regarded as a significant contributor to the growth of the state’s economy . More than 100 steel rolling mills, 90 sponge iron plants and ferro-alloy units are in Chhattisgarh. Along with Bhilai, Raipur, Bilaspur, Korba and Raigarh have become the steel hub of Chhattisgarh. Today, Raipur has become the center of the steel sector, the biggest market for steel in India. Aluminium sector Bharat Aluminum Company Limited(BALCO), which has a capacity of around one million tonnes each year is the major contributor in this sector.Exports * Handcrafted wood, iron and steel, terra cotta, bell metal and handloom items are major attractions in the international market. * Chhattisgarh is the only state offering quality fabric in Tassar Silk/ Kosa, which has good export potential in the UK, France, Switzerland, Norway, the USA, Canada, Australia, So uth Africa and Japan. * The state has vast potential for exporting processed foods, organically grown cereals, herbal and medicinal products. * Agricultural products such as rice are presently exported in huge quantities to neighbouring countries .Derivatives and intermediates of rice products, processed foods and biodiesel have a huge potential for exports. * Mineral-based products including steel and pig iron, steel castings, forging and equipment, structural steel, cement and silico-mangnese are also exported from Chhattisgarh. Unlocking Natural Resources Realising the true potential of natural resources in Chhattisgarh would be one of the most immediate priorities of the state. This would ensure economic benefits to more than3/4th of the population and help create large markets within the State that would help propel growth in the secondary and the tertiary sectors.Unlocking the true potential of the natural resources would be contingent upon the State’s ability to addres s the issues facing agriculture, forestry, minerals and the water resources sectors as follows: Agriculture is the primary occupation of the people of Chhattisgarh. About 80% of the population depend on it for their livelihood. It is thus vital to the economy of the State, and any initiatives undertaken in this sector would have a lasting impact on the economy. Water being an important input for sustaining agricultural activities, its effective utilisation becomes vital for economic development.Chhattisgarh has sufficient water resources, but this resource largely remains untapped. In terms of the irrigation potential, it is estimated that 43- lakh hectare area can be irrigated as against the existing irrigation potential of 1. 34 lakh hectare Forestry has a significant role in the economic development of Chhattisgarh. 44% of the State is covered with forests, ranking it third in India in terms of forest cover. The State boasts of an abundance of minor forest produce like Tendu leav es, Sal seed, Mahua seed, gum, etc. , which have enormous economic potential Minerals: Chhattisgarh is rich in minerals.It produces 20% of the country's total cement produce. It ranks first in the nation for coal production and second in reserves, third in iron ore production and first in tin production. Limestone,  dolomite  and  bauxite  are abundant. It is the only  tin-ore producing state in the country. Other minerals include corandum,  garnet,  quartz,  marble,  alexandrite  and  diamonds Chhattisgarh has not fully realised the potential of its abundant mineral wealth. The presence of vast reserves of coal, iron ore, limestone, diamond, etc. have positioned the State second in the country’s list of mineral producing statesTOURISM Chhattisgarh, situated in the heart of  India, is endowed with a rich cultural heritage and attractive natural diversity. The state is full of ancient monuments, rare wildlife, exquisitely carved  temples,  Buddhistà ‚  sites,  palaces,  water falls, caves, rock paintings and hill plateaus. Most of these sites are untouched and unexplored and offer a unique and alternate experience to tourists, compared to traditional destinations which have become overcrowded. For tourists who are tired of the crowds at major destinations will like the  Bastar district, with its unique cultural and ecological identity.Conclusion Comparatively being a newly born state, Chhattisgarh is progressing by leaps and bounds. The global winds of changes can easily be sensed here. With its rich heritage it is competing with other states on number of counts and has been recognized at various forums for its achievements. It is both the land of opportunities and challenges. I, through this presentation could voice some of the challenges, which the state is facing, however with its inherent strengths, I am sure, the state will grow and develop at a high pace and can become leading state in the country.The people of Chha ttisgarh are determined to make the things happen, the way they have envisaged. The people are enterprising and are now well versed with change process. The state has exhibited growth pattern higher than targeted in recent past and would continue the trajectory. And therefore I must say in the end that Chattisgarh is the credible state with incredible potential. Now I would like you all to please watch this one minute video to get a feel of Chhattisgarh.