Sunday, March 15, 2020
Investment vs fiscal regime in small scale solid mineral mining in west africa The WritePass Journal
Investment vs fiscal regime in small scale solid mineral mining in west africa Introduction Investment vs fiscal regime in small scale solid mineral mining in west africa Introduction 1. Analysis 1.1. Literature Review 1.2. Research Methodology 1.3. Deductive and inductive reasoning 1.4. Research Limitations 1.5. Data Analysis 1.6. Overall analysis ConclusionREFERENCESRelated Introduction Small scale solid mineral mining (SSM) in the West African region of Nigeria and Ghana has been subject to analysis by many writers before to bring out the hidden aspects related to the outcomes of taxation and investment in the industry. However most of these studies are focused on the volume related outcomes rather than the strategic scenarios of the region. SSM industry output in Nigeria in 1959 contributed a mere 1% to the Gross Domestic Product (GDP) of the country. By 2010 mining contributed just 0.3% to the total GDP[1]. This insignificant contribution made by the mining industry to the country’s GDP is attributed to the vast petroleum deposits (African Development Bank and the African Union, 2009). In Nigeria the existing mining law is incorporated in the Federal Minerals and Mining Act of 1999 and the Ministry of Solid Minerals Development[2] is responsible for the oversight of all management of mineral resources in the country. The Law has been developed from the rudimentary system of regulations starting from 1903 when mining industry in Nigeria was launched by the British colonial government (Ayine, 2011). By the 1940’s the country was one of the leading producers of coal, columbite and tin. The government monopoly over SSM in Nigeria came to an end in 1999 when the government began to sell assets in mining corporations to private entrepreneurs. However, it must be noted that the Law governing the SSM in Nigeria [3]was not as sophisticated as that of Ghana. Ghana’s fiscal policy measures were particularly conducive for the development of the SSM industry on a small scale. Though the country too has a sizable amount of oil it did not neglect the SSM related developments. The fiscal policy regime in Nigeria concerning SSM has been described by researchers as one-sided, i.e. it is overloaded with petroleum resources related developments while tax concessions to SSM business, especially private is almost non-extant. Thus this study analyses the outcomes related to the possibility developing SSM related fiscal and investment framework in Nigeria in comparison to Ghana (The Nigerian Minerals and Mining Act, 2007). 1. Analysis 1.1. Literature Review Nigeria’s SSM cannot be well understood without a reference to its gradual neglect of the industry as well. For instance according to many writers on the subject during the 1980’s the country had relied on coal and wood as a source of fuel for most of the countryside population’s day-to-day cooking needs (www.dundee.ac.uk). Subsequently coal was sought to be replaced by diesel for the railways though the rural communities continued to use coal and wood into the foreseeable future for their cooking needs. Just 73,000 tons of coal were produced in 1986 as against a whopping figure of 940,000 tons in 1958. The same fate befell the columbite and tin mining because by the end of 1980’s high grade iron ore was almost completely depleted. The Ministry of Mines and Steel Development was created with a view to developing the solid mineral industry in the country (www.mmsd.gov.ng). Though the Minster himself has assured the international investors of good opportunities and invited them to come and invest in the SSM industry there is a general trend of reluctance among investors primarily due to the inadequacy and inefficiency of fiscal regulations to assure good returns on their investments (Alison-Madueke, 2009). Fiscal policy [4]measures adopted by Nigeria concerning SSM have been known to be scanty and sparse. SSM related fiscal policy and investment measures in Nigeria have to be studied against the Ghanaian developments in SSM because the latter has adopted some of the far reaching changes in respect of the country’s SSM thus encouraging the small scale investors to identify and invest in more lucrative areas of the industry (Environmentally and Socially Sustainable Development Department, 2006). Nigeria right now has one of the most undeveloped fiscal policy regimes in the whole continent concerning SSM while on the other hand Ghana has adopted some advanced features in the system of taxation. In addition to the macroeconomic policy reforms the country has extensively adopted MMS related policy reforms in order to attract investment to the country. The Mineral and Mining Law (PNDCL 153) of 1986 [5]vests all rights of ownership in the Ghanaian government thus creating one of the most successful pillars for effective governance of the industry (files.africanstudies.webnode.com). Subsequently two addendums were introduced – the Additional Profit Tax Law (PNDCL 122) and Minerals (Royalties) Regulations (LI 1349). These laws along with highly generous tax incentives and exemptions to foreign investors have served as the cornerstone of the entire SSM in Ghana. But nonetheless these laws were codified in the Ghana Internal Revenue Act [6]since 2000. By 1994 the level of corporate tax in the industry was brought down to 35% in Ghana while the capital expenditure allowance to investors was increased to 20% in the first year. Subsequently in each year the investor is entitled to 15% .of allowances from 1986. The Royalty rate calculated at 6% of the total worth of the mineral was subsequently reduced to 3%. All other duties such as import duty, mineral duty and the foreign exchange tax were done away with. The import taxes on machinery and equipment were also exempted (www.dundee.ac.uk). These developments created a positive cumulative impact on the SSM scenario in Ghana. There was also the provision to permit the leaseholder to retain 25% of the foreign exchange earnings in a foreign bank account. This is intended to facilitate the purchase of equipment and machinery. Ghana’s fiscal policy measures on SSM are wide and varied. For instance the net present value of the investment is sought to be maximized for the investor in conformance with a comparison on probable net returns from alternative investment vehicles such as purchasing government or/and corporate bonds, shares and other investments in funds (www.ghana-mining.org). After tax yield of the investment matters so much that the net present value of the company ought to be maximized especially in an SSM environment. Mineral taxation systems [7]ought to take into consideration the realized profitability as against the potential and empower the firm to pay back capital borrowings at an early date. Tax duplication must be avoided and any structural adjustment initiatives undertaken by the company must come to a successful conclusion with the help of the tax system (Hossain, 2003). Since the SSM industry requires a higher level of capital investment for a longer period of time before adequate positive earnings are made the tax system of the country must be designed to accommodate concerns of the investor. According to some recent research works tax systems on mineral exploration and development often run into rough weather in times of economic recessions because governments fail to provide adequate buffer against the investment failure (Economic Commission for Africa, 2004). If the government fails to maximize the net present value of tax revenue and earn more tax revenue during periods of high profit earnings by companies, then there would be some incapacities coming into the system to prevent it from registering positive growth. Marginally productive mines have to be brought into higher yield capacity through capital intensive production techniques. Internal cost drivers like administration and research development [8](RD) must be controlled in such a manner to avoid cost rises in production. 1.2. Research Methodology Secondary data was collected through an extensive research effort conducted in libraries and online. The information regarding SSM was collected in order to analyze and come to conclusions. Secondary data is regarded as the second hand data or the data that have been exposed before for various reasons. It is not fresh data as the primary data. It is relatively easier to find secondary data than the primary data (Twerefou, 2009). Various sources are used to implement the objective by using secondary data gathered from such sources as textbooks, professional journals, and various university publications, corporate reports of various companies and the government, and university theses. These sources were used to analyze and provide the reliable accurate inferences regarding the SSM in Nigeria and Ghana. These secondary data sources have provided an extensive understanding of the fiscal policy measures adopted by Nigeria and Ghana (Davis, Ossowski Fedelino, 2003). The comparison has been made to show that Ghanaian system of taxation [9]is far superior in the solid mineral mining and exploration industry when compared to the Nigerian system.   Various textbooks and publications were used to build and draw reliable theoretical conclusions and make findings. References were taken from most of the research material available in the field. Theoretical analysis is much well facilitated than primary material which is basically limited to responses in the questionnaire and the survey. Also there is considerable reflection on the state and relevance of current research. Relevant web sites and official documents links were accessed to provide more credibility to the study and for further reference (Onugu, 2005).  Future research possibilities in the field are discussed in depth to show how theoretical underpinnings evolve with time and space with specific reference to the current developments in the SSM field. 1.3. Deductive and inductive reasoning This paper used deductive reasoning as against inductive reasoning. Deductive research refers to a process in which a more general approach leads to a more particular approach. For example the researcher may start off with a theory on the subject and then build up a series of hypotheses to arrive at specific details of the research topic (Campbell, 2009). Deductive reasoning is sometimes known as top-down approach. On the other hand inductive reasoning refers to the opposite process or approach. In inductive research the researcher starts from more specific hypotheses and then go on to generalized areas of study. This is sometimes known as bottom-up approach. 1.4. Research Limitations The industry-centric research methodology aspect was focused on both the quantitative and qualitative paradigms but nevertheless the qualitative aspect was hindered by a variety of shortcomings including the inability of this researcher to obtain quality testing measures. However it must be noted here that this detailed study would pay more attention to qualitative shifts than to quantitative data shifts caused by an industry in transition (Daniel Keen, 2010). The skewed nature of published data cannot be stressed on too much either because such bias and prejudice are only too common at each level. However for the purpose of ascertaining the tax system related outcomes such skewed data did not have a greater negative impact on conclusions. Next the all too well known limitations, viz. cultural bias [10]and prejudice displayed by researchers in Nigeria and Ghana might have hampered the efforts of this researcher to a certain extent. By following strict control mechanisms and a set of relevant guidelines the accuracy of the analysis can be made right though. This tendency apart some data sets were characterized by a degree of inaccuracy with regard to analysis. The recent developments in the SSM were not adequately borne out by these analyses (MBendi, 2011). Thus the qualitative research aspect also assumes a significant dimension of right or wrong. Organizational settings could have hampered the data collection efforts of many researche rs and as a result they might have been influenced by cultural attachments and biases. The most significant data sets for any serious conclusions have been sifted to come to some conclusions that have a direct bearing on the learning outcomes of this study. For instance the Nigerian fiscal policy measures as based on attracting foreign investors to invest in solid mineral mining and exploration is particularly influenced by a desire on the part of the government to provide employment to local population (Chamber of Mines Newsletter, 2001). 1.5. Data Analysis Source: developingmarkets.com/dma/wp-content/uploads/2009/05/minister-of-mines1.pdf Table 2.5.1: Nigeria’s seven strategic solid minerals Source:developingmarkets.com/dma/wp-content/uploads/2009/05/minister-of-mines1.pdf   Table 2.5.2: Gold Production in Ghana Source:ghana-mining.org/ghweb/en/ma/mincom/mainStageParagraphs/06/childParagraphs/01/document/Major%20Minerals%20Prod%2090-07.pdf 1.6. Overall analysis Tax analysis with emphasis on fiscal policy in Nigeria requires a systematic theoretical analysis of the net present value. When corporate taxes are considered the firm is entitled to interest expense deduction which enables it to increase value of its assets. According to Modigliani Miller (1963) the tax exemption allows the firm to reduce the leverage-based premium in the cost associated with raising the equity capital. Subsequently Miller added personal taxes to the equation. An investor ought to make an investment only when it has a positive Net Present Value (NPV). Those investments or projects whose returns are negative must be disregarded. The following formula is generally used to depict the NPV [1]of an investment or a project. The hypothetical example that follows the formula shows a positive NPV equal to  £123,928.60 at the end of the five year period. Here the opportunity cost of capital is assumed to be 12%. Year   Cash flow       Discounted cash flow 0                            =  £-(10,000.00) 1         10,000.00   =     £ 8,928.57 2         20,000 .00  =   £ 17,857.14 3         40,000 .00  =   £ 35,714.28 4         50,000.00  =     £44,642.85 5         30,000 .00  =   £ 26,785.71 NPV  =        £123,928.60 Thus by adopting it as the discount rate for all future cash flows one can effectively obtain the NPV for them. This gives a few advantages. In the first place proper financial management requires a realistic opportunity cost to be set against capital. Though over a period of 5 years there can be considerable pressure on interest rates, a steady return of earnings would be ensured through proper cash flow management. After all the above cash flow forecasts are assumed to be constant though, in reality they might vary. The decision to make the investment is based on the apparent returns by way of future cash flows and it does not take into account the risk factor involved. For instance the investor has totally disregarded DCF method because he probably considers those future returns to be final and conclusive with respect to their values. The DCF calculations and the NPV figure of the total investment show that the decision is fairly justifiable because the NPV is equal to  £ 123,928.60 which is a considerable value against probable future inflationary pressure, i.e. the opportunity cost of capital. The importance of discounting future cash flows by using these formulas also depends on other factors as well. Discounted cash flows give a real picture of the future possibilities. Since DCF[2] is what an individual is willing to pay at present in order to have what he expects to have in the future, it’s a process of expressing future revenue flows in terms of today’s value. Probably the most important reason behind DCF is the fact that inflation erodes the value of money in times to come, i.e. future. Therefore it’s essential to make up for the loss. That is why in each subsequent DCF multiplied by the number of years, a lower value comes up (Notermans, 2000). The Internal Rate of Return (IRR) [3]sets the present value of all future cash flows of an investment equal to zero. IRR usually holds the assumption that all future cash inflows would be reinvested at the internal rate as calculated at present. Assuming that there are investment projects with returns that exceed the cost of capital or interest, such projects would be seriously considered for investment. In other words when the IRR is greater the investment is more attractive. However it’s the NPV that every investor seeks to adopt because it has a less number of disadvantages or flaws. However there is abatement or mitigation of systematic risk through hedging. Individual investment decisions concerning risk mitigation are inevitably focused on the capital adequacy rules. Concurrent decisions to mitigate risk and maintain capital adequacy are nothing new in the investment sphere. Sharpe ratio is used to calculate the amount of systematic risk: Here the performance evaluation is based on risk-adjusted measures. Now the question â€Å"is the return adequate compensation for the risk?†has to be answered by working out the returns given the risk involved. The following explanations are used to work it out. The Sharpe ratio enables the adjustment of returns on investments to be conclusive with respect to risk-free returns and the degree of volatility of an investment. Rp      = Average return on the portfolio Rf       = Average risk free rate Sp       = Standard deviation of portfolio return (total risk). While Sharpe ratio is useful in determining adjusted risk and performance of a portfolio, there are other measures as well that have to be used in order to determine the level of risk accurately. Treynor ratio: rp               = Average return on the portfolio rf               = Average risk free rate ÃŽ ²p                  = Beta of portfolio (systematic risk) Treynor ratio is used to measure returns that are in excess of what could have been made on risk-free investment. For example Treasury Bills are less risky than other volatility-prone assets. That’s why it’s sometimes called reward-to-volatility ratio. It uses systematic risk. Thus higher the Treynor ratio, the higher the returns made on investments. However it is not like Sharpe ratio which is a measure of the excess return and does not help much. Next there is the Jensen’s Alpha, a measure that calculates the excess returns above the security market line as done in the capital asset pricing model (CAPM).[4] CAPM also uses beta as a multiplier to determine the total value of returns. Jensen’s Alpha is a risk adjusted portfolio performance metric. It’s calculated by using a regression technique to determine the performance of a given portfolio of a manager tested against a benchmark. On the other hand unsystematic (un-systemic) risk refers to a risk inherent in a particular industry or market that falters due to a specifically divergent variable. Unsystematic risk[5] (or residual risk or diversifiable risk) can be overcome by resorting to diversification of one’s portfolio (Lo, 2005). Since unsystematic risk is specific to a particular market/industry or market segment, diversification helps investors either to reduce risk or totally cancel out depending on the relative offsetting effect of less risky investments. Unsystematic risk essentially presupposes the existence of a remedial measure without resorting to hedging which can be uncertain for a number of reasons. In the first place hedging is carried out with the intention of obviating systematic risk which occurs as the result of an exogenous variable going astray. In the case of unsystematic risk exogenous variables are assumed to behave in the predictable way (Lehmann, 1990). Thus forecasts are reliable to the extent that the individual potential investor does not feel the need to shuffle the basket of investments. Fund managers whose instincts the investor relies on, do not feel obliged to advice clients on the contrary decisions. In fact such advice depends not only the instincts of fund managers but also statistical forecasts. As the portfolio is more diversified unsystematic risk moves closer to zero. Accounting risk[6], financial risk [7]and economic risk[8] are all part and parcel of unsystematic risk. They signify the very nature of risk. For instance a financial risk might involve mistakes in cash flow forecasts thus leading to liquidity problems. These residual risks do not have a big impact on the whole system. The systemic imperviousness stands out as the most credible security against risk. But nevertheless the degree of this imperviousness is determined by a number of other factors that are inherent to the system itself. Calculations involve the same process as above. However, CAPM is often used to measure an individual security or a portfolio. Additionally the security market line [9](SML) is used to measure the reward-to-risk ratio of a security in relation to the total market as shown below. Finally total risk is the sum total of systematic risk and unsystematic risk. While the choice of the individual investor between different types of securities or investment instruments matters here, there is the need for the investor to make some decisive decisions involving which risk out of systematic and unsystematic risks to be reduced visvis the other. The following graph illustrates the hypothetical scenario of a company which invests in a given portfolio of securities. The red line is the Security Market Line. the horizontal axis shows the betas of all companies in the market  the vertical axis shows the required rates of return, as a percentage Assuming that the risk free rate is 5%, and the overall stock market will produce a rate of return of 12.5% next year the following would give a clearer picture of fundamental financial ratio analysis. The imaginary investor/shareholder/company has a beta of 1.7. This result is obtained by substituting a few sample betas into the CAPM equation as follows. Ks = Krf + B (Km Krf). Table 2.5.3: Beta Values Security Beta (It’s a measure of risk) Rate of Return Risk Free 0.0 5.00% Overall Stock Market 1.0 12.50% Utopia Company 1.7 17.75% Source: www.teachmefinance.com  This figure and hypothetical data can be applied to understand all three types of risks in investing in the Nigeria’s solid mineral mining and exploration industry.  Conclusion Time and again it has been argued that Nigeria’s existing fiscal policy regime in general and the tax system in particular regarding the SSM requires urgent revision to invite both local foreign investors. It has also been suggested that such a revision or an overhauling would be worked out in conformance with SSM’s current developments. Nigeria has been heavily dependent on its oil resource and in fact has been neglecting solid mineral mining industry [1]while another West African country Ghana has been systematically developing its solid minerals industry at a consistent pace. Thus the analysis is focused on a distinction between industry related features in Nigeria and Ghana to bring about a conviction of the existing tax anomalies in the former. While the paper focuses attention on a variety of tax related shortcomings in Nigeria ranging from the near total absence of a well structured corporate tax system in the solid mineral mining industry[2] in general and the SSM sector in particular, it has stressed on the significance of fiscal policy measures that require a systematic effort sustained over the years to bring about both a qualitative and quantitative shift in the solid mineral mining industry. The comparison with Ghana is made to in order to delineate a series of positive developments that have taken place within the Ghanaian taxation system in the solid mineral mining and exploration sector. Ghana has put in place a number of corporate tax incentives and relaxed its rules and regulations on the acquisition of mining rights[3] to assure the potential foreign investor that net returns on their investment in the sector would produce more than anticipated net returns. Nigeria just needs this kind of change in its tax sys tem to create a series of positive synergies. REFERENCES Books African Development Bank and the African Union, 2009. Oil and Gas in Africa, New York: Oxford University Press. Campbell, B., 2009. Mining in Africa: Regulation and Development, New York: Pluto Press. Daniel, P. Keen, M. (Eds), 2010. Charles McPherson (Editor) the Taxation of Petroleum and Minerals: Principles, Problems and Practice, Oxon: Routledge. Notermans, T., 2000. Money, Markets, and the State: Social Democratic Economic Policies since 1918 (Cambridge Studies in Comparative Politics), Cambridge: Cambridge University Press. Journals Lehmann, B., 1990. ‘Fads, martingales, and market efficiency’, Quarterly Journal of Economics, vol .105, pp. 1–28. Lo, A., 2005. ‘Reconciling efficient markets with behavioral finance: the adaptive markets hypothesis’, Journal of Investment Consulting, vol.7, pp.21–44. Modigliani, F. Miller, M. H., 1963). â€Å"Corporate Income Taxes and the Cost of Capital: A Correction†, American Economic Review.  Articals Alison-Madueke, D., 2009. Opportunities in Nigeria’s Minerals Sector, Available at: developingmarkets.com/dma/wp-content/uploads/2009/05/minister-of-mines1.pdf [Accessed 03rd May 2011]. Ayine, D., 2011. Natural Resource Investment Review In Developing Countries: Ghana’s Mininng Sector In Perspective, Available at: http://www2.americanbar.org/calendar/section-of-international-law-2011-spring-meeting/Documents/Friday/The%20New%20Gold%20Rush/NATURAL%20RESOURCE%20INVESTMENT%20REVIEW%20IN%20DEVELOPING%20COUNTRIES-%20GHANA’S%20MININNG%20SECTOR% [Accessed 03rd May 2011]. Chamber of Mines Newsletter, 2001. Tanzania Chamber of Mines Newsletter, Available at: chamberofmines-tz.com/newsletter/news4a33b01078f7a.pdf [Accessed 03rd May 2011]. Davis, J.M., Ossowski, R, Fedelino, A. (Eds), 2003. ‘Fiscal Policy Formulation and Implementation in Oil-Producing Countries’, International Monetary Fund, Available at: imf.org/external/pubs/nft/2003/fispol/index.htm#ch1 [Accessed 03rd May 2011]. Economic Commission for Africa, 2004. Harmonization of Mining Policies, Standards, Legislative and Regulatory Frameworks in Southern Africa, Available at: http://vi.unctad.org/files/wksp/oilgaswksptanz10/docs/Background%20readings/SRO-SA%20Mining%20Report_final%20Harmonisation%20Study.pdf [Accessed 03rd May 2011]. Environmentally and Socially Sustainable Development Department, 2006, Ghana Country Environmental Analysis, Available at: http://siteresources.worldbank.org/INTRANETENVIRONMENT/3635842-1175696087492/21919456/Ghana_CEA.pdf [Accessed 03rd May 2011]. Hossain, S.M., (2003). ‘Taxation and pricing of petroleum products in developing countries: A framework for analysis with application to Nigeria’, International Monetary Fund Working Paper, Available at: imf.org/external/pubs/ft/wp/2003/wp0342.pdf [Accessed 03rd May 2011]. KopiÅ„ski, D., Undermining mining: the impact of the financial crisis on the mineral based economies of Sub-Saharan Africa, Available at: files.africanstudies.webnode.com/200000108/Undermining%20mining.pdf [Accessed 03rd May 2011]. Lawal, M. A., Constraints to Small Scale Mining in Nigeria: Policies and Strategies for Development, Available at: dundee.ac.uk/cepmlp/car/assets/images/Nike.pdf [Accessed 03rd May 2011]. Nwete, B.O.N., Mineral and Petroleum Taxation How Can Tax Allowances PROMOTE Investment in the Nigerian Petroleum Industry, Available at: dundee.ac.uk/cepmlp/car/html/car8_article14.pdf [Accessed 03rd May 2011]. Onugu, B. A. N., 2005, Small and Medium Enterprises (SMEs) In Nigeria: Problems and Prospects, Available at: stclements.edu/grad/gradonug.pdf [Accessed 03rd May 2011]. The Minerals Commission of Ghana, The Minerals Commission of Ghana, Available at: ghana-mining.org/ghweb/en/ma/mincom.html [Accessed 03rd May 2011]. Twerefou, D.K., 2009. Mineral Exploitation, Environmental Sustainability and Sustainable Development in EAC, SADC and ECOWAS Regions, Available at: uneca.org/atpc/Work%20in%20progress/79.pdf [Accessed 03rd May 2011]. Websites MBendi, 2011. Mining in Nigeria, Available at: mbendi.com/indy/ming/af/ng/p0005.htm [Accessed 03rd May 2011]. Acts Ministry Of Mines And Steel Development, National Minerals and Metals Policy, Available at: mmsd.gov.ng/Downloads/NATIONAL%20POLICY%20ON%20MINERALS%20METAL.pdf [Accessed 03rd May 2011]. The Nigerian Minerals and Mining Act, 2007. Mining In Nigeria, Available at: gbc-law.com/Mining_in_Nigeria.pdf [Accessed 03rd May 2011].
Thursday, February 27, 2020
Grades 9-12 Lesson plan on Political Status Of Puerto Rico for a Assignment
Grades 9-12 Lesson plan on Political Status Of Puerto Rico for a foreign language class (Spanish) in Florida USA - Assignment Example It demonstrates the power of the country to manage its foreign relations with other nations or states. 2. Citizenship is defined as person(s) entitled to enjoy privileges granted and all the legal rights by a state to its people who comprise a constituency and is mandated to obey and respect all the laws. They should also fulfill duties and responsibilities. 3. Rights of residents are governed by their ability to exercise their constitutional mandate to participate in political processes such as voting in local and national elections, representing their countries in various activities and functions and actively getting involved in nation building as one people. Importance: It is crucial for students in a foreign language class to appreciate the concept of level of autonomy, citizenship and rights of residents. It will help the students to understand the level of independence of the people of Puerto Rico, and the status of their citizenship in relation to the Jones-Shafroth Act of 191 7. The Spanish students will also appreciate the role of Spanish as a language in creating a holistic picture of what entails the other issues like political participation, judiciary and taxation. II. INSTRUCTIONAL OBJECTIVE(S)/OUTCOMES (What Is to Be Learned) 1. Objective By the end of this lesson, the students will have understood the meaning of Level of autonomy, citizenship and rights of residents. ... LACC.K.SL.2.4: Explain relevant concepts such as ethnicity, nationhood, leadership, and bill of rights and, with guidance and support, avail additional information. LACC.K.SL.2.5: Provide pictures, maps and Google images of people, infrastructure and political settings to descriptions as needed to give significant detail. LACC.K.L.1.1: Show command of understanding Spanish using standardized grammar and usage when writing or speaking. LACC.K.W.1.1: Use a connection of pictures, audio-visuals displays and writing to present and compose opinion pieces, which guides a reader through the topic or the name of the book they are reading. The learners should identify with their favorite audio-visual like the making of a nation, independence struggles and the people of Puerto Rico. 3. Goal 3 Standards Standard 1: Spanish class in Florida can locate, understand, interpret, analyze, keep, and apply information, ideas and concepts found in social science, the symbols, symbols, arts, recordings, video and audio displays, and computer files so as to carry out tasks and/or for understanding. The students will show an understanding and following directions to read a map. Standard 2: Florida students communicate in Spanish and other languages using Information, concepts, symbols, prose, reports, video and audio recordings, graphic displays, speeches and computer-related programs. The students will write, read, and use technical support like projectors to do their activity. Standard 3: Spanish class in Florida use creative thinking skills to produce new concepts and ideas, make the optimal decision that recognizes and solves problems through interpretation of maps, reasoning, and come up with effective methods to lifelong learning.
Tuesday, February 11, 2020
Downsizing and Globalization Essay Example | Topics and Well Written Essays - 3000 words
Downsizing and Globalization - Essay Example This paper presents a critique of the globalization and downsizing, and the reasons why organizations engage in these strategies. Downsizing Strategy Downsizing is a management strategy that involves reduction of an organization’s labor force as a result of corporate restructuring that is focused on maintaining competency in a highly competitive environment. Mergers and acquisitions are among the significant drivers for downsizing. For instance, the acquisition of PeopleSoft by Oracle led to a reduction in the number of employees by 5,000 in a bid to increase efficiency in the new organization. PeopleSoft’s revenue had been declining as a result of the economic crises that significantly affected the profitability of UK firms in 2007 (Blackburn, 1999). However, mergers and acquisitions may necessitate downsizing due to duplication of roles among employees from the merging organizations. The dominant organization tends to retain a greater share of its human resources whil e selecting few employees from the other organization, mainly those with specialized skills that may help in maintaining competitiveness (Kothen et al. 1999). Revenue management is focused on maintaining high revenue while keeping costs at the lowest level possible. Downsizing is among the key strategies for revenue management since organizations find it easy to reduce the workforce and utilize the remaining employees maximally. The operating environment is under constant changes that may affect an organization’s profitability if drastic measures are not undertaken. For example, globalization of industries has increased competition as foreign firms establish subsidiaries globally. Local industries in the global economies are faced with challenges with regards to product quality and production costs. For example, Spar (2003) observes that the cost of labor in China is low compared to some developed economies such as US and the UK. Foreign companies have therefore established s ubsidiaries in China where they produce at lower costs and then sell their products to other economies where the cost of labor is high. This trend has significantly affected industries operating in such economies since they have to minimize spending on labor to effectively compete with organizations that have taken advantage of the Chinese labor market. They have been compelled to lay off workers as well as calling for early retirement (McCann et al. 2008). Technological advancements have significantly influenced the need for organizations to downsize. Organizations engage in innovations to maximize production and increase efficiency. However, some innovations reduce labor-intensive work thereby reducing the need for workers. For example automation of processes increases speed and efficiency in production compared to human labor. Moreover, the recurrent expenditures of maintaining human resources are avoided since the machines require an initial capital outlay and occasional mainten ance. Many organizations globally downsized after introducing computers in their processes. This was a significant development that increased efficiency and accuracy in record keeping as well as service delivery to customers (Froud et al. 2000). Efficiency improvement involves reduction of the excess workers that perform tasks which have little contribution to the organization’
Friday, January 31, 2020
Collective Consensus Theory Essay Example for Free
Collective Consensus Theory Essay Social norms can be defined as The rules that a group uses for appropriate and inappropriate values, beliefs, attitudes and behaviors. These rules may be explicit or implicit. Failure to stick to the rules can result in severe punishments, the most feared of which is exclusion from the group. A common rule is that the some norms must frequently be displayed; neutrality is seldom an option. Here I include other norms, which are as follows: a. ) Injunctive Norms – These are behaviors, which are perceived as being approved of by other people. b. ) Descriptive Norms – The perceptions of how other people are actually behaving and whether their behavior is accepted or not. c. ) Explicit Norms written or spoken openly. d. ) Implicit Norms not openly stated (but you find out when you trespass them). e. ) Subjective Norms How we will behave with others who valued us. f. ) Personal Norms – Knowing our standards about our own actions. By exploring social norms and inequalities, let me be more specific, about the Americans Inequalities in American society have become so institutionalized that we rarely recognize most of them on a daily basis. Some are glaringly obvious: the privileges of the elite, the boss ability to come and go as he pleases- but these inequalities are sustaining, obvious, and dont hurt as much because we are conditioned to accept them Some inequalities change as certain circumstances change. The type of social stratification I wish to discuss is ever changing, weve all experienced it, but have we all noticed it? We like to think we live in a classless, multicultural society where everyone is treated equally. Frankly we are deluded. Of course there are classes, and not everyone is treated equally. The classes in our world are based on race, ethnicity, education and politics. Of the phenomenons of social stratification is social inequality, which is the distribution of resources dividing society into rank, grades, family, religion and education. These divisions should not occur in our society, but it is the sad truth that it does. Ethnicity is different to race as ethnicity is a distinct cultural definition which people identify with as customs, family patterns and religion. The sociologist, Max Weber, defines ethnic groups as human groups that entertain a subjective belief in their common descent because of physical type or of customs or of both or because of memories of colonialisation or migration. The biggest problem that arises in race and ethnic relations is prejudice, which is born out of pre-judgment and lack of knowledge. The Sociological causes of prejudice are: 1. It draws together people who share it; superiority is important. This is an element of Emile Durkheims Collective Consensus Theory. 2. Competing for resources. It is easier to get things if you can write others off as less deserving. 3. We can project onto others, who we think are lesser than us, those parts of ourselves that we dont like. The prejudices against those we think are different have negative consequences such as limiting our vision of the world. But far worse is its effect on society; it leads to discrimination and the consequence of discrimination is inequality. For Karl Marx, inequality was seen as a dichotomy based on the relations of production and the concept of class is the basic indicator of inequality. Weber saw inequality as three abstracted mechanisms of power; class (economic power), status (social prestige power) and party (political power). Whichever way it is described, inequality is found everywhere, between class, in education, health, occupations and power and within classes with sex, age, ethnicity and religion. However, there is hope in the end, for people can be socially mobile, which is the movement of people between social classes. Societys idea is that if you work hard enough you will move up in society, but this is not always true. People can move downwards in the social scale, or may start on the bottom and stay there because they do not have the same access to education as others may have. These people have less opportunities than others yet they are looked down upon because they are not upwardly mobile. How can people move up socially if they are not on an equal playing field to begin with? As long as people continue acting the way they do, inequality and racism will exist. Education is the key, and while older people may be set in their ways and may not be willing to change their views, we must educate the children, who are are future. Children must be taught that all people are equal and that thinking otherwise is wrong. For it is wrong. We were all created equal. Man made us not so. As per my view, when we live in a society were abiding by social, personal, or subjective norms, which are laid out for social and societal living is of utmost significance; I tend to stick to those norms and also inculcate the same things to people who are not aware of them. Man is a social animal, who needs to be trained to adapt different changes in societal environment. He has to abide by the norms laid out by the society to be accepted socially and morally, or else he/she is treated as a aborigine or uncivilized.
Thursday, January 23, 2020
How We Spend New Years Eve in Japan :: Essays Papers
How We Spend New Year's Eve in Japan What do you usually do on New Year's Eve? Does your family have something special to do for the New Year? Maybe you have a party at the bar or your friend's house, or you may spend time with your family. In Japan, the way of spending time on New Year's Eve is pretty different from the American way. In the morning, we Japanese people clean the whole house. This process is called Ousouji in Japan. This doesn't mean that Japanese people clean the house only once a year. There is a special meaning for this cleaning. Its purpose is to welcome the New Year and to wish a better life than the former year. Cleaning the house, which is covered with annual dust, is a really important way to start a new year. After finishing Ousouji, women start cooking Osechi. This is a traditional Japanese dish which is eaten a few days after the New Year. The dish is based on fish, beans, and egg. We eat Osechi because there is an old story saying one shouldn't use a cooking knife within three days from the New Year. This gives a break to the mother who cooks every day. While women are cooking Osechi, men are hanging Shimenawa, which is a kind of decoration made from rice stems. It is hung on the front door. This custom comes from the farmer's wish to have a good harvest next year. Today, we wish for good fortune and a good year. Evening time, after we finish preparing for New Year's, we normally watch a TV program called Singing Battle Between the Red and the White Team. It has been on the air for about 50 years and keeps over 50 percent of the audience's ratings every year. We think about this program as a part of a closing moment of the year. While, or after watching singing battle, we eat Toshikoshi Soba, which means "New Year's Eve Noodle" in English. As you know, the noodle is long, so we wish longer life, including healthy body, by eating Toshikoshi Soba. Finally, the last thing to do for New Year's Eve is to listen to Juya No Kane, which means "the watch-night bell" in English. This bell is like a countdown in America. But we ring it 108 times.
Tuesday, January 14, 2020
Adoption and Race
Historically, transracial adoption began to be practiced after the Second World War. Children from war-torn countries – Korea, Vietnam, and even Europe  without families were adopted by families in the United States with Caucasian paThrough the years, as more racial ethnic minority children within the United States were without families, domestic adoption agencies began to place African American, Native American, and Hispanic children with Caucasian families who wanted children.However, in 1972 the National Association of Black Social Workers (NABSW) became concerned about the large numbers of African American children who were being placed with Caucasian families. They condemned the practice of transracial adoption of African American children to Caucasian parents.They cited psychological maladjustment, inferior racial identity, the failure to cope with racism and discrimination, and â€Å"cultural genocide†as the likely outcomes of transracial adoptive placem ents.As an offshoot of this, legislation was introduced in the form of the Multiethnic Placement Act (MEPA) of 1994. MEPA, together with the Interethnic Adoption Provisions (IEP), has been signed into law to reduce the practice of race-matching in adoptive placements for children.These two pieces of legislation, commonly referred to as MEPA-IEP, were designed to decrease the amount of time children wait for adoptive placement, to improve and assist in the recruitment and retention of prospective foster and adoptive parents who are able to meet the distinctive needs of the children to be placed, and to eliminate discrimination in the practice of adoptive and foster care placements on the basis of race, color, or national origin.However, the passage of MEPA-IEP has not resolved the controversy over racial matching policies and transracial adoptions. Controversies still hound transracial adoption. Although the law prohibits categorical assumptions about the benefit of same-race placeme nts, child welfare workers still will have to make decisions about the importance of race in the life of an individual child.They are also tasked to identify reasons that may eventually require for the consideration of race. Those who believe that same-race placements are preferable may feel aggrieved that federal policy now contradicts their conviction and routinely calls for them to place children without giving weight to the child’s race.On the other hand, those who place little value on racial matching may have trouble identifying children whohave a specific need for a same-race placement.It is within this light that this study will take shape. As issues continue to be raised regarding transracial adoption, it is only fitting to go beyond statistics and find out the feelings of those who are personally involved in the process. As this study will attempt to unravel the issues closest to the hearts of those involved, the approach that will be used will be generally qual itative.Statement of the ProblemWhat is the percentage of interracial adoption, and what are the controversies surrounding racial matching and transracial adoption?Objectives1) To define racial matching and transracial adoption;2) To find out the percentage of transracial adoption in America;3) To find out the various issues related to racial matching and transracial adoption;4) To find out the various legislations designed to address racial matching and transracial adoption.MethodologyThis study will use interview – which entails purposive sampling  as a method for gathering data. The interviews will be conducted with the aid of an interview guide which is an informally prepared unstructured questionnaire. Data will also be collected through numerous secondary sources.Materials and documents such as discourses in books, official publications, position papers, letters, newspapers and magazine clippings will also be utilized. The official websites of various organizati ons will also be used as necessary. Implications of the study will be derived from the analysis of the gathered data and issues raised in the interviews and the various secondary sources.Review of Related LiteraturePracticing social workers, leaders of minority group communities, and scholars have expressed concerns on the effects of transracial adoption (Hayes, 1993). In a study conducted by Kim (1995) on international adoption, he noted that â€Å"transracial adoption of black children stirred up many controversies regarding their psychological development, especially with respect to their ethnic identity, or cultural well-being†(p.141-142).In order to determine the effects of transracial adoption on adoptees, several studies were also conducted on the racial identity of transracial adoptees (Bagley, 1993).These studies conceptualized racial identity in terms of racial group preferences, objective racial self-identification, and knowledge or awareness of one’s racia l group membership. Andujo (1988) also studied racial identity by measuring levels of acculturation, and by assessing the degree of pride in one’s ethnic heritage and appearance.Johnson et al. (1987) found that transracially adopted Black children had greater awareness of their race at an earlier age than did intraracially adopted Black children. As they grow older, however, both groups of adopted children expressed analogous levels of awareness and preference.The findings of the study also indicated that transracially adopted children’s awareness and preference stayed constant over time, while that of intraracially adopted Black children’s both increased more swiftly to exceed that of transracially adopted children.In the end, the study concluded that transracially adopted children were developing differently from intraracially adopted children. This developmental difference could be the springboard of the problems in the transracial adoptees’ racial ide ntity.Shireman and Johnson (1986) likewise reported on the psychological adjustment, racial identity, and sexual identity of transracial adoptees as compared to intraracial adoptees and adoptees of single parents.All of the adoptees in the study were Black children and all of the parents were also Black except for the parents in the transracial placements all of whom were White. Parents and adoptees were interviewed separately. The findings of the study suggested that there were no differences in psychological adjustment among the three groups of adoptees as determined by objective ratings of the interviews.In the end, the controversies hounding transracial adoption, no matter how limited they are, still largely affect those who are involved in the process. Only when these issues are addressed and resolved can the matters be put to rest.BibliographyAndujo, E. (1988). Ethnic identity of transethnically adopted Hispanic adolescents. Social Work, 33, 531-535.Bagley, C. (1993a). Chinese adoptees in Britain: A twenty-year follow-up of adjustment and social identity. International Social Work, 36, 143-157.Hayes, P. (1993). Transracial adoption: Politics and ideology. Child Welfare, 72, 301-310.Johnson, P. R., Shireman, J. F., & Watson, K. W. (1987). Transracial adoption and the development of black identity at age eight. Child Welfare, 66, 45-55.Kim, W. J. (1995). International adoption: A case review of Korean children. Child Psychiatry and Human Development, 25, 141-154.National Adoption Information Clearinghouse (2000, August). Adoption: Numbers and trends. Available: http://www.calib.com/naic/pubs/s_number.htmProject 21. (1995, March). African-American leadership group condemns racist adoption practices. (On-line). Available: http://www.nationalcenter.inter.net/TransRacialAdopt.htmlShireman, J. F., & Johnson, P. R. (1986). A longitudinal study of Black adoptions: Single parent, transracial, and traditional. Social Work, 31, 172-176.http://www.transracialadoption .net/inform.htm#Psychological%20adjustment,%20self-esteem,%20and%20racial%20identity
Monday, January 6, 2020
Analysis Of Homer s Odyssey By Homer - 1095 Words
One literary technique that is widely and effectively used in Homer’s Odyssey is the digression. The digression is departure from the main storyline that does not alter the action of the story, but adds a layer of sentimental content to the plot which usually helps underscore themes central to the story. The digressions in the Odyssey are meticulously written with great attention to detail just like the rest of the epic, and they truly help readers grasp the important aspects of the story. The liberal use of digression in the Odyssey helps build a vivid image of the character Odysseus by highlighting his historical feats, providing context to his current situation, and giving allusions to his future and his destiny. One of the more†¦show more content†¦Clearly, this is no ordinary wine. The wine digression accentuates Odysseus’s hospitable and moral character while also providing plentiful information to the immediate course of Odysseus’s journey because it reveals his forthcoming battle against the Cyclops. Another instance of digression is the emotional moment when Odysseus meets his old dog, Argos. When disguised Odysseus and Eumaeus are approaching the palace, Odysseus takes note of the deprived condition of his dog. â€Å"It was Argos, long-enduring Odysseus’ dog he trained as puppy once, but little joy he got since all too soon he shipped to sacred Troy†¦ But now with his masters gone he lay there, castaway, on piles of dung from mules and cattle†¦ Infested with ticks, half-dead from neglect†¦ Odysseus glanced to the side and flicked away a tear†(364). This digression serves as a reflection of Odysseus’s current circumstances and also a former period in his life. Eumaeus tells Odysseus that â€Å"[He’d] be amazed to see such speed, such strength. No quarry he chased in the deepest, darkest woods could ever slip this hound. A champion tracker too! Ah, but he’s run out of luck now, poor fellow†(364). Argos used to be just lik e his caretaker, Odysseus, however in Odysseus’s absence, Argos has withered away. Both Odysseus and Argos are standing in front of their home, but feel a sense of homelessness. Argos faces neglect because he is a stray dog while Odysseus is
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