Integrated Approach To Tourism Planning And Management Tourism Essay

Incorporated Approach To Tourism Planning And Management Tourism Essay The travel industry is one of the universes greatest businesses. For creating nations, it is likewise probably the greatest pay generators. Early writing in the travel industry advancement accentuated the job of the travel industry in monetary turn of events, especially for creating nations (Erbes, 1973). Be that as it may, the negative social, social effects of the travel industry has expanded in the previous two decades , calling for progressively mindful of arranging and the executives of the travel industry development(WTO, 1996; Mathieson Wall,1982, Wahab, 1997). The advantage of the travel industry in the countrys economy is a significant motivating force for creating nations because of three ace the travel industry contentions. To start with, the advancement of the solicitation for universal travel is planned to proceed at bewildering rate on account of the financial dependability and travel inclinations of individuals in the created districts, for example, Europe, Asia and No rth America. Also, pay versatility of interest for the travel industry implies that, as the family pay for the created world expanded, the discretionary cashflow would be coordinated to travel. Thirdly, creating nations need the outside trade profit to help its monetary advancement activities, so as to address the issues of their nearby occupants. By master the travel industry contentions, many creating nations are picking, or being urged to create the travel industry over a portion of the more conventional industry options, for example, agribusiness and assembling (Mill Morrison, 1999). The serious issues with horticulture are that excessively reliant upon a couple of explicit yields or items. In the serious world market, where externalities and cost are wild and flighty, nations subject to farming have an untrustworthy and conflicting wellspring of income. Under these conditions, the travel industry can assume the job in expanding economy and the enhancement the salary has gotten through the horticulture. For instance, subsequent to bringing the travel industry into the Caribbean island economies, the $9 billion the travel industry segment got multiple times the income of all conventional horticultural fares (Simon, 1995). Other creating nations have set up assembling as a financial improvement arrangement choice. So as to make, a nation need to have effectively open wellspring of crude materials for creation. The nation which has wealthy in characteristic assets is progressively effective in assembling. Many creating nations has deficiency of gifted work which is one of the important contributions for assembling. in any event, when these issues are non-existent fare situated enterprises despite everything face full universal rivalry in selling their items (Mill Morrison, 1999). The travel industry likewise need land , talented work, capital assets to get to . However, the travel industry, in how the item is created and conveyed, might be a increasingly feasible option for creating nations. Most creating have the essential crude materials assets for the travel industry. Utilizing the countrys legacy, design , the normal and social assets makes a goal exceptional and attractive to guests. Getting to the travel industry is a decent decision for the advancement of financial matters and requires more than just comprehend the anticipated development. The travel industry requires numerous different motivations to make a reasonable fit for creating nations. In contrast to horticulture and assembling enterprises, the travel industry creates an undetectable fare. The travel industry additionally permits nations to control trade rates to impact guest consumptions. For example, the goal can bring down the trade rates so as to pull in progressively number of guests. The travel industry influence straightforwardly or in a roundabout way to different areas of economy more than other industry. The techniques to boost the monetary advantages from the travel industry for creating nations are to get more cash from guests and sort out the travel industry to limit spillage of cash and employments. The announcement looks basic yet it really complex because of certain reasons. Government and private part play in setting up approach and empowering advancement in creating nations. National strategies on the travel industry in creating nations are typically the space of the state, while in increasingly created nations, private business people frequently rule strategy arrangement and institution (Liu, 1998). In most creating nations, attributable to the little size of the private area and the lack of assets, the legislature fundamentally assumes the job of business visionary (Shurland, 1998). This is as a rule in light of proposed private remote venture. Governments in the creating scene for the most part have the duty of defining and authorizing the travel industry strategy, and for some, maintainable the travel industry objectives are fundamental to their travel industry plan. This ought to incorporate, as effectively expressed, expanding the monetary effect of the travel industry to the neighborhood economy by lessening the spillage of outside trade profit. As recently referenced, one of the approaches to expand the travel industry advancement is to get vacationer who go through cash in the creating nation. As the mass the travel industry markets is scrutinized for the negative ecological and social effects they cause, there is developing thoughtfulness regarding those with higher family salary expecting that they will go through more cash during their visit. In spite of the fact that this sounds consistent, the methodology has its faultfinders (Mill Morrison, 1999). In spite of the fact that it isn't clear, guests with high wages may spend all the more however they may likewise require generous interest in framework and offices with high import content.

COAS Freshman Seminar Fall 2017 Co-Curricular Acti Essays

COAS Freshman Seminar Fall 2017 Co-Curricular Acti Essays COAS Freshman Seminar Fall 2017 Co-Curricular Activity Mbongi Form Name: Beloved Adenuga ID:@02843339 Class Day: Tuesday Occasion Title: National Book Festival Occasion Day/Time/Location: Saturday/9:30 am/Walter E. Washington Convention Center Occasion evaluation (1-10): 9 Presenter(s)' viability (1-10): 8 Connection to Course Objectives (1-10): 10 7188209525000 Would you go to another occasion on this theme or supported by the coordinators of this occasion? I would go to another occasion supported by the coordinators of this occasion: Library of Congress Sum up this co-curricular movement in one passage. This co-curricular movement, National Book Festival, sorted out by Library of Congress is a festival of books and the delight of perusing and it offers chances to those that go to meet with grant winning writers, artists, artists who will give a short investigation about their composed or realistic books. These writers additionally offer responses to individuals' inquiries regarding their work and get their books marked. What contemporary subjects were examined at this action? Claire Messud clarifies that her book, the consuming young lady, presents the extraordinary kinship among females and how their fellowship will in general disintegrate as they approach adulthood. The book recounts to a tale around two young ladies, Julia and cassie who were from totally various foundations however they were extremely close while in primary school yet as time passed the young ladies in the end were isolated into various sub-gatherings of school classes, companion decisions, and inquiries of question. They seem to float all through one another's lives and distinct contrasts in development begin to rise. Demonstrate by locale some material (ideas, figures, occasions) referenced or talked about today: Africa US Caribbean/Latin America Other Rundown two new things (as far as scholarly work) you pondered at this movement. 1. As indicated by Claire Messud: We are comprised of the considerable number of stories that we take in intentionally or unknowingly and when we approach situations we present to them all up into applications. In this way, I imagined that on the off chance that I fill myself with loads of data I will be immense and ready to handle a progressively troublesome difficulties that comes my direction. 2. I likewise got the inspiration from Claire Messud that at whatever point I get the opportunity to accomplish something I should attempt to accomplish something that I have never done What could the presenter(s) have improved to help your learning experience? The Presenter could have attempted to add diversion to the introduction. The consuming young lady is an anecdotal work so in the event that she gave more delineations on how her book communicates reality it would have helped my learning experience. What might you be able to have done to improve your learning experience today? I could have shown up at the occasion community prior so I could tune in to more creators. I could have made an effort not to nod off during the introduction so I would acquire from the speaker. Relate the occasion to at any rate two destinations for this course, as illustrated on the schedule. 1. One of the destinations for this course is it assists with giving important apparatuses to make the best of one's encounters at Howard. A road to meet with loads of creators is something that brings satisfaction and will make great memory of Howard University. 2, This occasion has likewise made me progressively learned on the grounds that I had the option to increase new things that sets me up to have the option to confront difficulties ahead. This is according to the course objective since the course is proposed to support one's mission and set one up to connect with basic worldwide issues from an educated point of view.

Startup Hubs Around The World Los Angeles

Startup Hubs Around The World Los Angeles The City of Angels is famous for its movie stars, its balmy climate and its sports teams. One of the most recognizable cities in the world, it draws visitors from around the world. With so many areas of success, it is only natural that making a move towards becoming a startup hub is the next frontier Los Angeles seeks to conquer. © Shutterstock.com | blvdoneLos Angeles is in close proximity to the number one startup hub in the world: Silicon Valley. In recent years, however, a rising number of entrepreneurs have chosen Los Angeles over its famous neighbor. To find out why, we’ll explore 1) the location, 2) the tax incentives, 3) legal incentives, 4) investors, 5) local resources, 6) specialization of the area, and 7) startups to watch.LOCATIONGeographical BenefitsThe city of Los Angeles (LA) is located in southern California and is the second highest populated city in the United States, trailing only New York City. Ethnically, it is one of the most diverse areas in the US, drawing residents from over 140 countries including the Philippines, Korea, and Mexico. The rich diversity of the city lends itself to becoming a startup hub that welcomes entrepreneurs from all over the world; no matter where the entrepreneur is from there will most likely be an established community in LA to make settling in easier.Thi s diverse city can also be a benefit for entrepreneurs who want to engage with customers (and potential customers) from around the world. Selecting a city that already has an established network and a thriving cultural interchange can help to springboard ideas into reality as a product is field tested within the marketplace.A coastal city, LA offers residents the warmth of a subtropical climate. Mild winters and predominantly sunshine filled days attract visitors and residents. The ‘livability’ of LA offers much to draw entrepreneurs who are relocating. Geographically, Los Angeles is situated within easy reach of most major cities in the world. The convenience of living in a city that is already a thriving metropolis simply adds to the allure of the city for the entrepreneur.Advantages to choosing the cityAs one of the most populated cities in the US, LA has an extensive network of transportation options. An exhaustive network of freeways and roads connects the city to other maj or cities on the California coastline. However, the sheer magnitude of the number of people living in the city virtually guarantees that the roadways are in a constant state of gridlock. Interestingly enough, however, the average commuter on an LA freeway spends less time on the way to work than their counterparts in New York City or Chicago. Finding alternative means of transportation is essential for anyone who tries to navigate through the LA road system.Fortunately, there are viable alternatives; mainly in the form of public transportation. Subways and rail cars crisscross the city, offering easy access to the major points of the city’s landscape. The third busiest commercial airport in the world (LAX) is another means of accessing the world outside Los Angeles. In addition there are other, smaller airports scattered nearby that provides additional opportunities for air travel. A port city, LA boasts one of the largest cruise ship centers in the world, along with an extremely busy container port. Entrepreneurs working in LA can take advantage of the close proximity to travel options and the available means to connect with investors who may be looking for a company to invest with.Selecting Los Angeles as a startup city provides the entrepreneur with an established network of resources that many cities lack. Banking, legal resources, technology, affordable housing and living necessities are all readily available in the City of Angels â€" making it an easy choice when looking for a city to set up shop.Welcome to LA: Your video guide to Los Angeles startup ecosystem TAX INCENTIVESOne of the downfalls of the Los Angeles area as a startup hub is the lack of viable tax incentives. Recent mayor candidates proposed changes to add tax incentives as a way to discourage the ‘brain drain’ that seems to be happening after college graduation. Los Angeles is home to an extensive number of universities and colleges. Adding programs that would allow for students to re main in the city post-graduation would encourage workers to become innovators.Studies have indicated that graduates of LA colleges and universities return to their original home after graduation. This brain drain could be eliminated by offering some form of incentive to the graduate to extend their stay and work. Applying their innovation and classy right The addition of well-educated innovators can increase the entrepreneurial spirit of the city, and help to encourage other college graduates to consider careers in innovation.A lack of a tech corridor in the city is another area that should be easy to remedy. Adding city-owned properties allows for companies to be centrally located. This neighborhood feel to innovation hubs allow the entrepreneurs to encourage each other, to help each other as needed and provide support along the way.The lack of a central innovation center, coupled with a low tax incentive program seems to be to areas where LA is weakest. The last several elections have brought out the candidates who have offered solutions to the city’s entrepreneurial problems. Finding the solutions may be bigger than one politician can work out, but gradual changes that can be implemented over time may be the best approach. Instead of trying to implement everything they’ve been doing at one time, adding small incremental changes will begin to snowball overtime.Finding ways to add tax incentives, whether through specially designated hub zone areas or through tax credits for entrepreneurship, should be a major item on the city’s “To-Do” list.LEGAL INCENTIVESSimilarly, the startup scene needs to have legal incentives to setup in the Los Angeles area. Navigating the legal requirements needed to establish a startup is not difficult. However, the tax and legal codes may sometimes be confusing. It is advisable, then, that the entrepreneur hires legal counsel that is proficient in startups. Ensuring that the proper paperwork has been filed will allow the e ntrepreneur to focus on running their company, without worrying about corporate filings and other details.The process of establishing a company in LA is relatively streamlined, and can typically be handled by either a legal or accounting professional. Small business advisors can assist the entrepreneur with the necessary requirements as well.INVESTORSWith a huge amount of talent and resources, it seems odd that there is a lack of funding available for entrepreneurs. Home to over 2,000 startups, Los Angeles is bursting with innovation, and very little venture capital. The entertainment industry is hesitant to invest its money into technology, and the mix of the music industry and technology often ends poorly (see: Napster and Bittorrent). Finding a way to increase the number of investors and venture capitalists who can see beyond the glitz of Tinsel Town and spot the tech hub must be one of LA’s top priorities.The lack of local investors in startups can be addressed by increasing a wareness of startups and their needs. The bigger hurdle is to convince investors to turn their attention to the tech world. According to one study, the average startup investment ranges from $25,000 to $30 million. In Los Angeles, however, the average investment is $4 million dollars.LA is beginning to establish incubators and accelerators that offer support and resources to the fledgling startup players. With experienced innovators, the entrepreneurs are being coached and mentored by people who have working knowledge of the startup world. This offers great promise for the subsequent success of startups that are following in their footsteps. The global startup community is ever shrinking â€" investors are coming from around the world to be a part of the new work that is being done in Los Angeles. With the increased attention, entrepreneurs have the opportunity to make connections with investors and potential customers. There is already a high level of excitement in the city of Los A ngeles â€" adding entrepreneurship simply enhances the already bustling city. LOCAL RESOURCESLos Angeles is often referred to as the ‘creative capital of the world’. Estimates claim that one out of every six residents work in some form of a creative industry. Whether that industry be film, or music, or sports, the cultural climate of LA is teeming with creativity. Home to the motion picture industry’s headquarters, Hollywood, LA is considered to be the motion picture epicenter of the world. With such a variety of creative activity, it is no wonder that experts claim LA to be one of the world’s favorite places to go.One of the indicators of an entrepreneurial startup hub is the existence of a rich cultural life. There is a direct correlation between creative thought and entrepreneurship. In this regard, then, Los Angeles is a prime location for startups. With such a varied creative culture in the city, there is much to use as inspiration and motivation.More museums per capita in the world are tucked in the streets of LA (841 of them) â€" offering visitors a chance to peruse art galleries, contemporary art and traditional art museums. The city has an extensive number of performing arts centers, the Los Angeles Music Center and other venues for enjoying your favorite form of relaxation.Comparatively speaking, LA is an affordable place to live. With low housing costs and an established and reliable infrastructure, the city has a head start over other entrepreneurial hubs. However, encouraging tech developers to move to the film capital of the world may require more than a low rent.Using the thriving movie industry as an enticement is another means of using local resources wisely. With the entertainment industry centered on the city of Los Angeles, that can be used to an advantage for the movie buff or digital media expert who loves to be in the middle of the excitement. SPECIALIZATIONSurprisingly, in spite of the movie-focused intent of the city, media tec hnology is not the main specialization of its startups. Mobile services and engineering are leading the way as the two primary specializations of the area. Following a close third is the entrepreneurial entertainment industry.The entertainment industry in Los Angeles is thriving, and the entrepreneurial startup community is racing to catch up. Finding innovative ways to maximize entertainment and technology is a strategic advantage that entrepreneurs in LA have over other startup cities.Services such as multi-channel networks are a prime example of this intersection. The next generation of cable networks, MCNs allow YouTube channels to increase content promotion, add monetization or manage the network.Tech staffers in the LA area are highly skilled, in many ways, even more so than the techies of Silicon Valley. The LA entrepreneur has established skills as an engineer with a focus on communication, music, cinema and more. This combination allows the entrepreneur to develop solutions and connections to such industries as technology and gaming, fashion and video. By seeking new and innovative combinations, the LA startup market is always rich with new ideas and solutions.The viable business climate of LA has successfully attracted technologies and other venture capital interests. With a reliable internet infrastructure, companies can depend on the internet to power media and technology needs. The entrepreneurial climate of LA is welcoming to startups at every level; some have begun and failed miserably.This was the case with MySpace, one of LA’s most famous startups. MySpace’s takeover and rebirth as a leaner program gave techies experience in the entrepreneurial world, as well as a nest egg that they used to springboard into new companies. The entrepreneurs took their skills, along with their newfound wisdom on how to establish a successful company and springboarded them into a series of other, equally as successful companies. A few of their second time aro und success stories? Snapchat â€" an instant messaging service that fades messages away after a few seconds and Gradient X it sold to a Singapore firm just a month after its beta launch.STARTUPS TO WATCHDogVacay: An online community for dog lovers and owners, it matches up owners with available pet sitters in the local area. With options for in-home or out of home care, it lets pet owners select exactly the amount of care they want for their beloved pet.Tradesy: Using the mantra “Shop your Own Closet’, Tradesy capitalizes on the inherent packrat tendencies that many people have. Allowing users to trade items that they may have and no longer want or need, Tradesy helps keep items out of closets (and landfills).Dollar Shave Club: An ‘awesome’ razor club, Dollar Shave Club delivers razors straight to the subscriber’s mailbox. With one handle and four razors each month, each kit delivers exactly what is needed.Zefr: A startup that uses YouTube, Zefr offers legalized sports, T V, or movie clips for users to upload to their website. A powerful form of advertising that is just now being maximized to its full capabilities.ChowNow: An online customer management platform for restaurants. Through online marketing and resources, ChowNow is a full service management plan and ordering platform for eating establishments.With the variety of industries that already exist in LA, it makes sense that they would next turn their attention to entrepreneurial efforts. Harnessing the talent and energy that is used in the media platforms, they have the resources needed to become a powerhouse in the startup world in a short amount of time. Innovators have the opportunity to develop new forms of entertainment technology, as well as business tools that can have applications in a variety of fields. The eyes of the world are already on Los Angeles, giving the global community a front row seat for the innovations being developed there.

The Hero With A Thousand Faces - 1328 Words

Cooper Clarke English 4 – Period 2 Mr. McQueary 8/22/14 The Hero with a Thousand Faces Prologue – The Monomyth Myth and Dream Myths are universal and transcendent through time; many ancient myths are seen recreated in modern times. The author uses Oedipus as a way of comparing myth to psychology. Dreams have also played a major role in civilization; the people who could interpret dreams can understand and create myths. â€Å"Dream is the personalized myth† (19). Tragedy and Comedy People have always been fascinated with the tragedy and death of others. Tragedy is the realizing of the ultimate truth of life, and comedy is finding the joys of life. Mythology can stem from both tragedy and comedy. The Hero and the God The author uses the story of the Buddha to state the journey a hero has to go through to achieve their powers/ability. The hero leaves his environment, learns or develops, and then returns to spread what he loved. All hero stories follow the same guidelines. The World Naval The World Naval is the birthplace of everything important in the hero story; it is the center point of the world. It can either create of destroy life and is often represented by a special symbol. PART ONE Chapter 1 – Departure The Call to Adventure The call to adventure is a big change, often by accident. After the change, the herald tells the hero about their adventure. Refusal of the Call The hero refuses the adventure but becomes trapped either psychologically, or physically. TheyShow MoreRelatedThe Hero With A Thousand Faces1540 Words   |  7 PagesCampbell â€Å"The Hero With A Thousand Faces† and The Movie â€Å"Alien† A hero is â€Å"a man (or occasionally a woman) of superhuman strength, courage, or ability, favored by the gods.† Based on this quote, found on â€Å"The Oxford English Dictionary Online,† one can assume that the hero would be a man based on the terms that are used. People often associate a man as being the almighty power in a situation. They are referred to as the hero. One does not often find a movie about superheroes with the hero being a womanRead MoreThe Hero With A Thousand Faces796 Words   |  4 PagesIn 1949, Joseph Campbell published his book â€Å"The Hero with a Thousand Faces.† It details his theory of the â€Å"monomyth,† a theory that illustrates how many heroic mythological stories have similar outlines and archetypes. During his discussion of the second chapter of the monomyth, Campbell says that the monomyth can â€Å"serve as a general pattern for men and women† in their everyday lives (121). In many circumstances, comparisons can be made between normal situations throughout life and the monomythRead MoreHero With A Thousand Faces1555 Words   |  7 PagesAnyone can be a hero, no matter where they come from, they could be your neighbor or be in the next town over, in another state or even in another country. Luis Gonzalez, born and raised in a small farm in Jalisco Mexico was eighteen years old when his own personal hero journey began. A â€Å"Heroes Journey† is a seventeen stage itinerary divided into three segments listed in order; Departure, Initiation and Return. These stages consist of what the hero in the story will do in their journey accordingRead MoreThe Hero With A Thousand Faces1284 Words   |  6 Pages Analysis of Beowulf In his book The Hero with a Thousand Faces, first published in 1949, esteemed American mythologist Joseph Campbell outlines the fundamental structure every archetypal hero follows during his or her journey in the world of mythologies. Campbell coined the term â€Å"monomyth to describe the stories that follow this structure. The monomythic cycle, commonly referred to as The Hero s Journey, is divided into three primary sections known as the Departure, Fulfillment, and ReturnRead MoreThe Hero With A Thousand Faces1524 Words   |  7 PagesRevised Draft A hero is â€Å"a man (or occasionally a woman) of superhuman strength, courage, or ability, favored by the gods.† Based on this quote, found on â€Å"The Oxford English Dictionary Online,† one can assume that the hero would be a man based on the terms that are used. People often associate a man as being the almighty power in a situation. They are referred to as the hero. One does not often find a movie about superheroes with the hero being a woman. Gender should not define who is the betterRead MoreThe Hero With A Thousand Faces2252 Words   |  10 Pagestheory of the monomyth, all the myths that have withstood the test of time for thousands of years are based on a similar foundation. This foundation is explored in his book The Hero with a Thousand Faces where he describes the theory in this quote â€Å"A hero ventures forth from the world of common day into a region of supernatural wonder: fabulous forces are there encountered and a decisive victory is won: the hero comes back from this mysterious adventure with the power to bestow boons on hisRead MoreThe Hero with One Thousand Faces by Joseph Campbell1447 Words   |  6 Pagesyoung innocent character who embarks on a journey and becomes a hero, known as The Hero’s Journey; a series of steps that all heroes follow. This journey not only shows the main character becoming a hero but also shows the hero move along a path similar to that of adolescence, the path between childhood and maturity. The Hero’s Journey was created by a man by the name of Joseph Campbell. He wrote a book called The Hero with One Thousand Faces, a novel containing a variety of stories that follow the stepsRead MoreThe Cultural Values And The Archetypal Patterns Of The Novel Hero With A Thousand Faces 1331 Words   |  6 Pageson a pedestal, unlike their deception during the Late Middle Ages after the advent of chivalry and courtly love. On that note, Sir Gawain and Beowulf both reflect the cultural values and the archetypal patterns found in Joseph Campbell’s Hero with a Thousand Faces which are expressed throughout their communities. Even though some of the values such as valor and loyalty carried over from one time period to another, the two cultures experienced a paradigm shift from the way fighting was conducted allRead MoreTo What Extent Did the Book Hero with a Thousand Faces Influence the Sci-Fi Fantasy Film Genre, Specifically George Lucas’s Star Wars Trilogy?4143 Words   |  17 PagesIntroduction A hero goes forth from his familiar life into a world of the supernatural; difficulties are encountered which the hero conquers; and he returns home to celebrate with his friends. You may think you know what sci-fi/fantasy movie I’m talking about. But what I was actually describing is the book Hero With a Thousand Faces by Joseph Campbell. Because when it comes down to it, almost all sci-fi and fantasy movies follow the same basic pattern, the â€Å"Monomyth† described in Campbell’s bookRead MoreThe Hobbit, Or There And Back Again Essay1423 Words   |  6 Pagesor final battle followed by their return. Amongst the greatest and most authoritative pieces of literature written in the 20th century is Joseph Campbell’s The Hero with a Thousand Faces. Both the ideals and concepts within The Hero with a Thousand Faces are being used, and have been used, in the art of storytelling for thousands of years. The specific concepts Joseph Campbell lays out within the text is a dissection of the many common themes which the vast majority of stories, the heroic tale

Engineering Ethics - 601 Words

Engineering dilemma. ‘Engineering ethics’ refer to the ethical issues involved in the engineering profession. Ethics are concerned with moral decisions in professional behaviour. Whilst morality generally refers to any aspect of human action, ethics is concerned with making the ‘right’ decisions in a professional context. Engineering ethics and consideration of the impact of engineering on the environment are issues of relevance and importance to any engineer or engineering student. Ethics is concerned with utilitarianism – the production of the greatest good for the greatest number. A contentious ethical issue for engineers is when to privilege their work over the environment. Engineering impacts both positively and negatively on the†¦show more content†¦Implementing engineering practice in some areas may destroy or change the natural balance and way of natural working, resulting in devastation of the environment as a regrettable consequence. Engineers must strive to find practicable solutions to reduce their collective ‘carbon footprint’ and to redress the harm of past action, for example forward looking initiatives such as the conversion of mine waste into low cost housing materials and recycling schemes implemented in many residential areas. The ever present ethical dilemma of an engineer is when to privilege profit and productivity over issues such as pollution, habitat destruction and soil infertility. When the pros and cons are weighed up against each other the ultimate rule to be followed is the golden rule, â€Å"hurt not others with that which pains yourself†. When undertaking decisions concerned with environmental impact, both long term and short term effects must be taken into consideration. Excessive farming and processing of fertile land may eventually render the same land infertile. The use of fossil fuels may not have had an immediate effect on the environment but now we understand their impact in the form of greenhouse gasses and their great contribution to global warming. Extensive research must be undertaken in an attempt toShow MoreRelatedEthics And Ethics Of Engineering Ethics2079 Words   |  9 Pagesaddresses the importance of engineering ethics as it pertains to the health, safety, and well-being of not only individuals but society. By beginning with the root needs of engineering ethics by first discussing its history and then moving on to how unethical choices can and have had a deadly impact on communities. Once a basis is established the document states the core fundamentals, instructions, and responsibilities of engine ering ethics. I. INTRODUCTION What is engineering ethics and what is its importanceRead MoreEngineering : Engineering And Ethics917 Words   |  4 PagesWhat is Engineering? Engineering is a profession in which knowledge of mathematical and natural sciences gained by study, experience and practices is applied with judgement to develop ways to utilize, economically, the materials and forces of natures for the benefits of Mankind – (Accreditation Board for Engineering and Technology-ABET) Sara Pfatteicher in her book Introduction to post disaster engineering and ethics describes engineers as â€Å"design under constrains†. She describes the main threeRead MoreEngineering Ethics Of The Engineering Profession1814 Words   |  8 Pages Engineering is a pylon of human development and technology,having a significant impact on people’s daily lives. Engineering has improved humanity in every aspect (e.g. transportation, communication, medicine) and it has the potential to overcome the challenges that mankind still faces. However, engineers have responsibility for their actions and they must learn to follow a set of ethical principles relating to their work. All of which have to be followed to the letter otherwise there can beRead More Engineering Ethics Essay1653 Words   |  7 Pagesthe primary goal of a course on engineering should be to teach students the standards of professional conduct as set out by major engineering codes of ethics, or if they sh ould think autonomously about moral issues. The speaker in the essay question suggest that the former argument is correct, and that engineering courses should have the goal of teaching students to master the standards set out by codes of ethics as following these is what engineering ethics consists of. This means that studentsRead MoreComputer Engineering Ethics4002 Words   |  17 Pagesbetween a patent, a trademark, and a copyright ï‚ · Identify some ways of credentialing a person to practice computer engineering ï‚ · Describe issues that contrast risk issues with safety issues ï‚ · Identify some issues in computer engineering that address privacy ï‚ · Describe whistle blowing and the conflicts between ethics and practice that may result from doing so ï‚ · Describe how computer engineering uses or benefits from social and professional issues. 2.2 Reasons for Studying Social and Professional Issues Read MoreEthics in Engineering Essay1469 Words   |  6 PagesEthics is the moral behavior that guides our actio ns; it motivates us in our personal behavior and is relevant in a business setting as well. Many organizations have set forth a set of guidelines known as a â€Å"Code of Ethics†. The Institute of Electrical and Electronic Engineers, being one of these organizations, has set forth their code as a requirement for students and engineer members to adhere to. Heading towards a career in electrical engineering I choose this organization to elaborate on forRead MoreEngineering Ethics And Why Engineers Essay2007 Words   |  9 PagesEngineering ethics and why engineers are expected to use the highest standards of honesty and integrity. Introduction Engineering is a very important part of society, all types of engineers are important for our world to keep running smoothly, from civil engineers designing, planning and overseeing structures like dams and bridges. Mechanical engineers who design, develop and build mechanical and thermal devices, including tools, engines and machines. They are the reason we have safe and comfortableRead MoreEngineering Ethics Within The Scope Of Engineering Essay1991 Words   |  8 Pagesstill a key aspect of engineering. 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In general terms, it deals with the nature and impact of the engineering technology on society. The researchersRead MoreThe Gold And Engineering Ethics932 Words   |  4 PagesGilbane Gold and Engineering Ethics Ethics are fundamental in all human interaction; they guide or beliefs and behaviors, therefore fundamentally affecting how we live life. As Christians, it is especially important to live a life of ethics in order to follow the standard to which God has called us with the words: â€Å"Do all things without grumbling or disputing; so that you will prove yourselves to be blameless and innocent, children of God above reproach in the midst of a crooked and perverse generation

The Economics of Running a Genomics Company Free Essays

string(76) " in that any other firm could discover the gene’s function and patent it\." Genset IPO Prof. Nahata FIN 9774 1. What are the economics of running a genomics company? What is the role of large pharmaceuticals in genomics? How competitive is the genomics industry? Running a genomics company is extremely capital intensive. We will write a custom essay sample on The Economics of Running a Genomics Company or any similar topic only for you Order Now Research and development, patenting, and developing marketable products cost a lot of money. The associated dangers of working with patents are also at issue here. Genset must be able to defend its patent in court against patent trolls, which can layer additional costs upon the capital intensive primary business activities of the firm. At this point in time, the patent situation surrounding mapped genes is also tentative. The US courts have yet to rule on the patent status of genes, making the market for patented genes suspect. The other difficulty of the genomics industry is turning research into revenue. It takes a very long time to turn a patented gene into a medical product, which has to pass through several rounds of scrutiny before entering the market. Even if Genset is able to find a major gene, they might not see returns for several years. Large pharmaceutical companies are integral to the genomics industry. Genset researches genes that are related to a wide variety of diseases. However, many mapped genes will not be linked to any underlying genetic disorder. The genes that are linked to treatable disorders must be researched to discover chemical compounds that interact with genes to treat the underlying disorder. While Genset has the intellectual capability to research the genes, they are not capable of developing drugs to interact with the genes they have mapped. Through licensing agreements, genomics companies could decrease the risk and amount of time before they could report positive earnings. The licensing agreements generated revenue immediately by selling some or all of the rights to future applications of specific genes. Thus the genomics companies did not have to wait for the future applications to mature before they could realize positive earnings. The industry is also extremely competitive. There are 114 biotechnology companies in France, with an additional 1,050 in the United States. Several genomic companies have already passed through their IPOs with mixed success. Competition is fierce to discover every human gene. It is a race to see who finds and catalogues all the human genes by the end of the millennium. By early 1996, there was an intense race to map all genes and genomics companies were getting closer to finishing the task every day. There is also heavy competition between the genomic companies and pharmaceutical companies. 2. What is happening at other genomics companies? What is Genset’s competitive position in the genomics industry? Many genomics companies have passed through IPOs and private funding rounds. At 250 employees, Genset is larger than all the other comparable companies provided in the case. Many other companies are operating in the sequencing business, developing libraries of sequenced genes. Beyond private companies, many research universities, government-sponsored facilities, and research institutions are also sequencing genes. While progress has not been lightening fast, it is worth noting that there is a finite supply of genes in the human genome. The amount of genes that are functional from Genset’s perspective is unknown. While competition to discover every gene was fierce, Genset was engaged in the systematic and comprehensive analysis of the genetic map of the humans to identify and patent genes and regulatory regions related to selected common diseases. Genset was a unique firm because it was both creating a library of genes and researching the genetic causes of diseases. They intended to discover drugs to treat these diseases and enter into strategic partnerships with pharmaceutical companies to develop and market these drugs. Genset not only researches genes, but it also is the world’s largest creator of synthetic DNA. Bradys believes that this line of business is extremely important to Genset’s future. Part of the desired $70 million will be devoted to tripling the output of synthetic DNA by updating its sequencing machines and increasing its workforce. Part of the money was needed to finance more equipment purchases and further research for its DNA mapping and sequencing operations to beat its competition. The industry is expanding quickly, with many small, nascent firms popping up, searching for private funding. The landscape is expanding quickly, with each firm trying to find ways to monetize their findings as quickly as possible. 3. What are the key success factors in genomics? What are the risk factors? What is the nature of cash flows in genomics? To be successful in genomics, a firm must have capital to acquire the necessary equipment and personnel to quickly map and patent genes. Given the finite amount of genes available to map, the genomics industry is truly deadlocked in a race to sequence the human genome. While raising the necessary capital is difficult, the more difficult aspect of the genomics industry is finding ways to monetize their research. Genset is fortunate to be the world leader in synthetic DNA. While their research may take years to pay off, their synthetic DNA operation gives them a reliable revenue stream. Genset is unique within the genomics industry in that respect and another: they are not just sequencing genes; they are also researching the genetic causes of diseases. This additional research makes their genetic patents and research more valuable to pharmaceutical companies that will be assured that they are pursuing worthwhile genes. To achieve profitability, Genset needed to successfully discover genes related to particular diseases, find partners to develop the products, conduct clinical trials, get regulatory approvals, and successfully manufacture and market such products. But the risk with this plan was that, Genset was based in France and patented its discoveries in France and the Euro zone countries. They were also unsure if the discovered gene fragments or genes (without known functions) could be patented. This was a BIG risk, in that any other firm could discover the gene’s function and patent it. You read "The Economics of Running a Genomics Company" in category "Papers" Also since they did not have any patents in America, where they were considering raising money put a big question on the viability of the plan. There was also the possibility that the patents, mainly on which the firm’s value was based on, were broad enough to give the firm a competitive advantage besides any patent could be challenged, invalidated or circumvented by others. . Are Genset’s cash flow projections reasonable? How much cash does the company need and when? To achieve profitability, Genset needed to successfully discover the genes associated with particular diseases and find appropriate strategic partners to develop products, conduct clinical trials and obtain regulatory approva ls. Genset entered into a three-year strategic alliance with Syntehlabo SA which focused on discovering genes associated with prostate cancer. They were also under discussions with an affiliate of Johnson Johnson to target schizophrenia. Their financial projections showed that in the future the company expected its revenues to come primarily from these types of contract revenues. The company has also filed three patent applications in France relating to its gene sequencing techniques. They are projecting their revenues based on successfully discovering these genes. Genset is looking to acquire approximately $70 million to finance more equipment purchases and further research. The company needed $30 million for capital expenditures including expansion of its TGS high throughput sequencing facility, the construction of a new mapping facility and polymorphism scanning lab. Another $40 million would fund ongoing research and development expenses. The funds were needed almost immediately. Without this technology and research, Genset would fall behind with no chance to recover. Raising this capital would be Genset’s largest financing project and would augment the $54. 2 million of funding raised through private equity (70. 4%), bank loans (13. 5%), government bonds (7. %) and other loans (8. 9%). We believe that Genset’s cash flow projections could be overstated since a major part of their cash flow source is contract revenues which would have to be made with Pharmaceutical firms. The case mentions that currently all the patents that Genset has are registered and protected in Europe. Most pharmaceutical firms on the other hand are based in North A merica with it being the largest market and unless all the patents that Genset are are registered and protected in North America, we believe they would not be in a position to achieve those cash flows. Hence we have discounted these cash flows by 40% initially. Also we believe that post an IPO and strategic investors from North America, Genset will develop the capability and expertise to pursue these patents listed in N. A and achieve the growth that they expect now. Thus we have a terminal growth rate of 5% factored in our model. However we have factored in the capital expenditure schedule that the firm has planned on the onset and that has been factored in the model since these expenses are essential in the pursuit of the firm’s future projections. 5. What is the current state of the financial markets? Are they conducive for an initial public offering by Genset? Would a private placement be a better alternative? The current state of the financial markets is healthy. Recent IPOs by other genomics firms have fared very well, despite the inherent risk in the business. Gene research is seen as the future of science, just as physics was the driving science of the early twentieth century. Given the success of recent offerings (with Human Genome Sciences and Myriad Genetics being the most successful), Genset is correct o investigate the possibility of a public offering. US capital is flowing into genomics at a steady clip, making it an appealing source of funding. The conditions associated with private funding make it less appealing to Genset. Genset is also unlikely to be able to raise their capital requirements through private funding alone. They have already received $54. 2 million in private funding, with 59. 3% of their shares owned by private investors. Private investment in biotechnology is at an all-time high, but funds are restricted from putting more than 10% of their total capital into any one business. This may require that Genset form deals with multiple funds, further dividing their remaining equity. Also there is a possibility that post these deals, while Genset would further dilute their equity there could be a situation where they could again be short of funds and raising funds in the future via this route could/could not be difficult. However once you access the public markets there is always the option of accessing the markets continuously for multiple capital raising activities. Thus going public sounds much more attractive. Also in the future, given the right strategic partner and if making continued contract revenue agreements becomes difficult they could also enter into a partnership or joint venture. Given that the firm would then have stock that is listed on the bourses makes this much more easier and hence going public is an extremely attractive choice. 6. Should Brandys take such extreme measures to issue stock in both France and the US? Why is he doing it? What additional costs and requirements are raised in doing so? Bradys is understandably weary about issuing stock in both France and the US. The offering would cost Genset twice as much, losing roughly 20% of their raised capital to fees and services. Before the offering, Genset would need to review their financials and prepare their past statements to comply with both US and French law. They would also need to secure accountants, lawyers, and underwriters in both France and the US, which will cost the firm a hefty price. Bradys is pursuing this option to expose the firm to as many possible sources of funding as possible. The US capital market is deeper than that of France. However, since the firm is French, it is able to draw some of the most talented French scientists to its firm. The US genomics market is deeper, making the pursuit of human capital more difficult. Bradys understands that if he were to only make an offering in France, he would be incapable of raising their required funds. Bradys needs the US market not just for capital. He also needs the US pharmaceutical industry and patent protection. By having American capital, Genset can more effectively lobby the US government for the patent protection they need to make their mapped genes intellectual properties. It is also worth noting that Genset has plenty of cash reserves and is not as badly in need for capital as Bradys believes. While the US has yet to weigh in on patent protection for genes, the increased amount of commerce on the side of genomics indicates that the courts will most likely uphold the rights of companies to patent their library of genes alongside their patented processed. 7. Why is Genset going public now? Does it make sense? Genset is going public now because they need $70 million in capital to advance their research and to not fall behind other genomics companies. There are some positive points to going public now. Tapping into the US market makes sense because of the higher amount of venture capital expenditures over their native France. If Genset does not find a way to raise this capital, they will most likely fall out of competition among their direct competition. The drawbacks to going public are many. No other similar genomics business has raised $70 million in their IPO. The highest previous offering was by Human Genome Sciences, which raised $66. 7 million. However, Human Genome Sciences did not face the challenges of Genset. Most offerings lose 10% of their raised capital to offering related services. Genset could conceivably lose 20% of their offering value, as they must prepare for offerings in both France and the US. A dual offering would require accountants, lawyers, and services for two different markets in two different languages. If Genset were to achieve their desired level of $70 million, they would need to raise roughly $87. 5 million in capital, before related costs are tabulated. It makes sense that Genset go forward with an IPO at this time, although it is not without its dangers. If their IPO fails, the firm would be tainted and they would be hard pressed to raise capital elsewhere. They could instead seek more private capital, which would not preclude an IPO in the future. Even if another round of private capital falls short of the $70 million mark, they could receive bridge funds that would carry them to another round of funding through venture capital or an IPO. However, given the amount of firms entering the market, Genset could easily hurt their value by waiting. The markets could grow weary of genomics companies and fail to pony up capital to even the best companies. Genset should strike while the iron is hot, not wait until the market has cooled down. Genset must firmly trust their advantage of having the most talented French scientists in the US market. The flood of US-based genomics firm has diluted the talent pool of American scientists. Genset has a strong advantage in this respect. Coupled with their superiority in synthetic DNA and competitive edge in DNA sequencing, Genset is certain to be a much sought after stock. 8. What valuation would you put on Genset’s stock? Be sure to support your valuation with specific analysis. You could try to be creative here! We estimate Genset’s stock to be priced at $10. 57 per share. We are using a beta of 1. 6 which is based on the weighted market capital of all comparable companies. The reasoning behind this is that the majority of the listed firms are in the US and hence it is difficult to find closely comparable firms. We also use the P/E based valuations since the value of the firm will also depend on how the comparable firms have performed in the market post IPO. The terminal growth rate is 5% which is reasonable since we haven’t accepted the revenue streams given to us by the firm. We have reduced them to 60% of the firm’s estimates since the numbers look highly optimistic and could be difficult to achieve given the fact that the firms’ patents are registered only in Europe and could not be easily marketable in the US where most development and pharmaceutical firms are based. The revenues depend on agreements with pharmaceutical firms and if these agreements are subjective then the associated revenues will also be subjective. The core valuation itself comes from a variety of inputs that we considered. While we also did comparable company valuations, we agreed upon considering using the adjusted present values method which realizes a share price closest to that using a range of share prices obtained using the multiples method. We used a range of discount rates and P/E values associated with them, from the range of comparable firms given to us. We believe this gives us a range of valuations and taking out the High-Low values, we use the median Net Present Value of the firm and the associated stock price derived from it thus ending with a share price of $10. 57 and a NPV of $44. 796mn. We believe this is fair onservative valuation and reflective of the risk as well as the potential associated with the firm. This reflects a good middle ground for the investors to get in on a company with great potential as well as for the firm to capitalize on its unique position in the biomedical space. Adjusted Present Value Approach Inputs Tax Rate Unlevered Cost of Capital Cost of Debt Growth Rate (Product Sales – 2001 – 2003) Terminal Growth rate Other Income/Loss Depriciation (Straight Line) CAPEX (every year) All Value in Thousands 40% Asset Beta (comps) Risk Free Rate Market Risk Premium Terminal growth rate 1. 7 6. 05 7. 09 13. 62% 16. 2% 15. 00% 5. 00% 0 20% 3% $10,000. 0 DEBT 20,000 Adjusted Present Value (APV) (A) NPV of Unlevered Investment Date Revenues Expense Other Income/Loss Depreciation and Amortization EBIT EBIT(1-T) Add: Depreciation Gross Cash Flow Less: Capex Less: Change in WC Free Cash Flow Terminal Value PV Factor PV of Future Cash Flows (at time 0) NPV of Unlevered Investment (B) PV of Interest Tax Shields Date Debt (D) Interest Expense Tax Shield Terminal Value of Tax Shield PV Factor PV of Tax Shields (at time 0) NPV of Tax shield Infinite Horizon 1996 1 $12,700. $23,300. 0 $0. 0 $15,662. 6 $26,262. 6 $15,757. 6 $15,662. 6 $95. 0 $20,000. 0 $0. 0 $20,095. 0 1997 2 $21,300. 0 $26,800. 0 $0. 0 $17,662. 6 $23,162. 6 $13,897. 6 $17,662. 6 $ 3,765. 0 $10,000. 0 $0. 0 $6,235. 0 1998 3 $44,600. 0 $31,500. 0 $0. 0 $19,662. 6 $6,562. 6 $3,937. 6 $19,662. 6 $15,725. 0 $10,000. 0 $0. 0 $5,725. 0 1999 4 $68,600. 0 $36,700. 0 $0. 0 $21,662. 6 $10,237. 4 $6,142. 4 $21,662. 6 $27,805. 0 $10,000. 0 $0. 0 $17,805. 0 2000 5 $129,200. 0 $46,500. 0 $0. 0 $10,000. 0 $72,700. 0 $43,620. 0 $10,000. 0 $53,620. 0 $10,000. 0 $0. 0 $43,620. 0 2001 2002 2003 6 $148,580. $53,475. 0 $0. 0 $12,000. 0 $83,105. 0 $49,863. 0 $12,000. 0 $61,863. 0 $10,000. 0 $0. 0 $51,863. 0 7 $170,867. 0 $61,496. 3 $0. 0 $10,000. 0 $99,370. 8 $59,622. 5 $10,000. 0 $69,622. 5 $10,000. 0 $0. 0 $59,622. 5 8 $196,497. 1 $70,720. 7 $0. 0 $10,000. 0 $115,776. 4 $69,465. 8 $10,000. 0 $79,465. 8 $10,000. 0 $0. 0 $69,465. 8 $673,852. 8 0. 3601 $267,668. 6 $71,549. 8 0. 8801 $17,686. 4 $331,280. 9 0. 7747 $4,829. 9 0. 6818 $3,903. 3 0. 6001 $10,684. 5 0. 5282 $23,038. 3 0. 4649 $24,108. 7 0. 4091 $24,393. 8 1 $12,163. 2 $1,965. 0 $786. 0 2 $33,437. 2 $5,401. 9 $2,160. 7 3 $4 2,913. $6,932. 8 $2,773. 1 4 $41,347. 9 $6,679. 9 $2,671. 9 5 $27,550. 7 $4,450. 9 $1,780. 4 6 $20,000. 0 $3,231. 1 $1,292. 4 7 $20,000. 0 $3,231. 1 $1,292. 4 8 $20,000. 0 $3,231. 1 $1,292. 4 $8,000. 0 0. 860916465 0. 74117716 0. 63809162 0. 54934358 0. 47293893 0. 407160916 0. 350531536 $676. 68 $1,601. 50 $1,769. 49 $1,467. 82 $842. 00 $526. 22 $453. 04 0. 301778371 $2,804. 25 $10,141. 00 NPV of Project $341,421. 92 total debt market cap genome therapeutics 1. 4 131. 4 human genome sciences 6 697. 4 incyte pharmaceuticals 0. 1 244. 8 millenium pharmaceuticals. 2 7 myriad genetics 0. 307 sequana therapeutics 4. 1 189. 9 cash 0. 01065449 0. 008603384 0. 000408497 0. 002931596 0. 021590311 9 107. 5 41 17. 8 72. 5 41. 3 EV (calc) 123. 8 595. 9 203. 9 -10. 6 235. 4 152. 7 revenue 11. 2 9. 6 11. 1 22. 9 3. 6 12. 4 revenue multiple (calc) EBITDA 11. 05357143 0. 6 62. 07291667 -31. 1 18. 36936937 -10. 1 -0. 462882096 65. 38888889 -5. 2 12. 31451613 -6. 1 28. 12273006 0. 053571 -3. 23958 - 0. 90991 0 -1. 44444 -0. 49194 EBITDA multiple (calc) 206. 3333333 -19. 1607717 -20. 18811881 -45. 26923077 -25. 03278689 19. 33648503 MEAN MEDIAN HIGH LOW 28. 12 15. 34 65. 39 -0. 46 19. 4 -20. 19 206. 33 -45. 27 Base Case Total Revenue Total Expense Depreciation Taxable Income Taxes After Tax Depreciation Capital Expenditures FCF Terminal Value FCF Post Terminal Value PV – 1996 5. 84 2173. 6575 0. 6771654 1996 12700 23300 15662. 6 -26262. 6 0 -26262. 6 15662. 6 20000 -30600 -30600 $313,353. 57 1997 21300 26800 17662. 6 -23162. 6 0 -23162. 6 17662. 6 10000 -15500 -15500 1998 44600 31500 19662. 6 -6562. 6 0 -6562. 6 1999 68600 36700 21662. 6 10237. 4 3378. 342 6859. 058 2000 129200 46500 10000 72700 23991 48709 0. 596237 0. 30626 depreciation capex Depreciation 1992 1991 0. 19413 0. 016384 0. 017899 0. 107211 0. 053256 0. 080234 includes patent purchase+investing activities 1 2 3 4 5 6 20 32 19. 2 11. 52 11. 52 5. 76 19662. 6 21662. 6 10000 10000 3100 18521. 658 10000 10000 4 8709 593323. 1 3100 18521. 658 642032. 1 51144. 45 Conservative 1996 Total Revenue Total Expense Depreciation Taxable Income Taxes After Tax Depreciation Capital Expenditures FCF Terminal Value FCF Post Terminal Value (B) PV of Interest Tax Shields Date Debt (D) Interest Expense Tax Shield NPV of Tax Shields FCF including tax shield Total Net income NPV of Plan $44,796. 5 7620 23300 15662. 6 -31342. 6 0 -31342. 6 15662. 6 20000 -35680 -35680 1997 12780 26800 17662. 6 -31682. 6 0 -31682. 6 17662. 6 10000 -24020 -24020 1998 26760 31500 19662. 6 -24402. 6 0 -24402. 6 19662. 6 10000 -14740 -14740 1999 41160 36700 21662. 6 -17202. 6 0 -17202. 6 21662. 6 10000 -5540 2000 77520 46500 10000 21020 6936. 6 14083. 4 depreciation capex Depreciation 1992 1991 0. 019413 0. 016384 0. 017899 0. 107211 0. 053256 0. 080234 includes patent purchase+investing activities 1 2 3 4 5 6 20 32 19. 2 11. 52 11. 52 5. 76 10000 10000 14083. 171549. 5 -5540 185632. 9 14787. 57 1 $12,163. 2 $1,970. 4 $788. 2 $10, 143. 89 ($34,892) 2 3 $33,437. 2 $42,913. 2 $5,416. 8 $6,951. 9 $2,166. 7 $2,780. 8 4 5 $41,347. 9 $27,550. 7 $6,698. 4 $4,463. 2 $2,679. 3 $9,785. 3 20000 $3,240. 0 $1,296. 0 $8,000. 000 $16,084 ($21,853) ($11,959) ($2,861) $23,869 PV – 1996 Shares Outstanding Share Price $34,652. 16 4,574 $7. 58 Present Value $28,139. 37 $118,630. 13 $7,862. 21 $68,507. 03 Rate 0. 2 0. 2 0. 3 0. 3 PE 11 25 11 25 Share Price $6. 15 $25. 94 high $1. 72 low $14. 98 10. 57 median How to cite The Economics of Running a Genomics Company, Papers

Social Issues Explored in Bruce Dawes Poetry free essay sample

This represents the marginalised soldiers from the Vietnam War, for the War Veterans from WW1 and WW2 had always traditionally returned home to a hero’s welcome, greeted at the airway and society’s full support to the brave soldiers who had risked and possibly given their lives for the country. Weapons Training is another war poem, but this time targets young soldiers pre-war on what can be assumed as a final addressing before taking into the ranks, this poem however various from the previous, the soldiers would have gone into the War with the expectation of being given thanks and praise for their bravery, instead they were barked at, abused and insulted. Dawe has represented both of the marginalised soldiers in both of the respective poems through his use of literary devices which can all fall under the brackets of a) Imagery and b) language, integrating into some finer details. We will write a custom essay sample on Social Issues Explored in Bruce Dawes Poetry or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Bruce Dawe’s poem ‘homecoming’ is littered with imagery throughout the passage. The poem is set in the mid 1950’s, which was historically a very patriarchal time. This sense of accomplishment had been earned through the hard work and sacrifices that soldiers had gone through during the horrific events of world war one and two. Thus, when war veterans- alive, dead or injured- returned from another significant war; Vietnam, a logical person would also expect the same ‘hero’s welcome’ that was given to all the past oldiers. Sadly, this was not the case, and their efforts went on unrecognised. Dawe’s vivid use of imagery is a blatant illustration of this. For example, the soldiers (those they could find) were â€Å"piled on the hulls of Grants, in trucks, in convoys†¦ zipping them up in green plastic bags†. The words ‘Grants, trucks and convoys’, paint the picture that the soldiers are just like cargo, or prod uce, which is usually associated with such vehicles. And the fact that they were ‘piled on’ conveniently. The ‘objects’ that were piled on were not just another cargo, they were human beings, not just any human beings (which in its merit still would not condone their actions) but the bravest of human beings, people who had given their life to help preserve their country, and this treatment is simply insulting. In the next line, Dawe again cuts one deeper at the idea, mentioning they were ‘zipping them up in green plastic bags’. This idea of the ‘green plastic bags’ is associated with garbage. Simply Insolent. The reader’s perception is challenged by this use of language, especially since these events were in living memory of the audience. When the realisation that these Soldiers were treated like ‘garbage’ the audience is struck with a wave of guilt, which has been cleverly constructed by Dawe. Another example of an attack on society’s method of dealing with the situation is the second shortest line in the poem (the primary being the significant â€Å"they are bringing them home†) â€Å"raise muzzles in mute salute†. This line is very cutting, for when the plane carrying the deceased landed in their home, the only mention of any recognition is from the ‘raised muzzles’. The raised muzzles of dogs, which are portrayed by Dawe as the only stable and loyal companions in the nation, snubbing the human race as a whole, for the respect given- or lack of. Furthermore, Dawe has utilised the literary device of language to help give voice to the marginalised soldiers. The main idea created through the use of language is again how ill treated they were, not only on their return but the way their bodies were treated. One key example of language that thrusts a shameful feeling upon their audience is the repetition of ‘they’re’ in the opening of the poem. This repetition emphasises the dryness of their activities involved with war. Additionally, in tandem with such lines as ‘all day, day after day’, the audience feels like the action being described s monotonous- it’s a common task-one that is done conveniently- by ‘zipping’ them (and by describing such actions such as ‘bringing, zipping, tagging and giving’, Dawe has used lively verbs, to juxtaposition their real state of being). In contrast, it is quite the opposite; it is the furthest thing from ‘common task’. They are collecting human corpses. Because in today’s society human life (death) is held with such a high preservance, the news of any unforseen or mass death is a world talking point, and thousands flock from all over the nation to pay their respects, even if they had no contact with the deceased. So when a modern society reads how monotonous these people’s jobs were being taken and the lack of respect to the homecoming of our dead soldiers it is staggering. Another example of a literary device associated with language is the influence and impact of the title; ‘Homecoming’. â€Å"The title is used to contrast the traditional universal implications of the word with shockingly reality of soldiers flown home. † http://www. writework. om/essay/analysis-poem-homecoming-bruce-dawe) It preconceives the idea of some glorious return, or appraisal- as the society had been accustomed to reading, however this assumption is the furthest thing from the true details of the poem. Finally, there most obvious or noteworthy part of this poem is the lack of punctuation and full stops; representing the never ending rest of the war victims, but know, after all the fighting, and their death, they can finally rest, represented by the first and final full stop. Weapons Train ing’, also by Bruce Dawe, is scattered with imagery, imagery that is startling and imposing upon the audience. The images in this poem are â€Å"base, crude and apply to the visceral rather than the heart and never any near the cerebral. † (http://neboliterature. mrkdevelopment. com. au/poetry/dawe/weapons=training. html) The general conceived idea of society is that soldiers when being addressed prior to war, they would be treated with the utmost admiration and commendation for these brave soldiers who are risking their lives for their country. However, this poem negates this way of thinking. Instead these soldiers are ‘barked’ and ‘shouted’ at. As you can imagine, the soldiers would have not been expecting this kind of welcoming, represented in the way the general shouts â€Å"you there what’s the matter/ why are you looking at me are you queer? † This abrupt nature creates the vision of a young men wide eyed/mouth gaping staring at these hands on commander with utter shock and a sense of fear at how they are being addressed. The commander is in a sense, trying to instil mechanical features into the humans, to erase the human error, and thus the soldiers becoming one with their gun, moving like clockwork. So when the general commands â€Å"And when I say eyes right I want to hear/those eyeballs click†, he is attempting to obtain a mechanical-unnatural squadron. Almost as if to kill all of their human identity, symbolising their inevitable end, and raises the question, without any human difference, are they really alive? Humans are separated from animals and to a lesser extent machinery by our ability to think to feel; our individuality. When a soldier-to-be first conjured up the thought of joining, the thought was and would be one of everlasting freedom, and a place to complete heroic acts, but in this passage all these dreams have been crushed- represented when the general commands â€Å"Remember the cockpit drill† it is a monotonous movement, precise natures of the orders, which should be spontaneous, but is instead mechanical. Similarly to Dawe’s other poem, Homecoming, ‘Weapons Training’ is a transparent example of how language can be applied to represent a marginalised group in such a way that has been seen otherwise. The poem is also arguable Dawe’s most evident use of structure to help convey this point. Firstly, language is at the forefront in the second line where the general sates â€Å"and the gentle pitter-patter of falling dandruff†. The use of onomatopoeia here is apparent and the ‘pitter-patter’ sound has been used to represent the tentativeness of the soldiers as they march onwards. A sense of cautiousness has been created throughout the crew, almost as if to signify what the realisation of what they are risking. The ‘tt’ sound is also quite representative of machine-like figures that these soldiers have become, as described in the previous paragraph. Furthermore, ‘dandruff’ has negative connotations in today’s society, representing unhealthy living conditions and contaminated scalp. When today’s audience reads that dandruff is falling as they simply move it is very uneasy feeling in the readers mind. Similarly to Homecoming, this poem lacks in punctuation, the narrator only stopping to catch his breath when he asks a rhetorical insulting question to one of the privates such as â€Å"you a queer† These short pauses serve as a solitary moment where the verbal onslaught commences before the general launches into another volley on insults, commands and war notes. The lack of full stops serves as to resemble a life in the ranks, one that is always ongoing and without rest and respite. Finally, the repetition of ‘dead, dead, dead at the conclusion of the poem is vital. These serve as to be the last words we hear in the poem, and they are hammered into the audience to enforce a reflection on the whole poem negative and sorrowful way (towards the soldiers). Structurally, this is a very unique poem for Dawe. Firstly, it is written in dramatic monologue- the poem starts with ‘And’ as if the general is mid sentence, this beginning really thrusts and imposes on the reader and immediately catches their attention. (Http://lardcave. et/hsc/english. 2ug. dawe. weaponstraining. html) This style of writing in tandem with the Title; Weapons Training’ has an immediate effect on the audience. The audience were assuming the poem would be about these brave faced soldiers given weapons and being taught how to use them whilst a feeling of comradely and admiration flows through the air. Instantaneously these assumptions are once again proved incorrect, and mo re so they are omitted instantly. It is also noteworthy that ‘Weapons Training’ was Dawe’s only rhythmic poem. This is key, as the rhythm and rhyme in this poem serves to exaggerate the fact that as much as society would like everything ‘just-so’ this can’t be the case. Even though the narrator’s speech is rhythmic, what he is saying is very cutting, contradicting the traditional romantic or heroic rhythmic poems. In conclusion, Bruce Dawe’s foremost war poems- ‘Homecoming’ and ‘Weapons Training’ are transparent examples oh how literary devices have been utilised to represent marginalised groups in ways that challenge their readers perceptions. Such literary devices include Imagery, Language are evident and in ‘Weapons Training’ Structure cannot be ignored. ‘Homecoming’ criticises the monotonous actions that are involved with the taking home of deceased soldiers, along with the fact of the respect- or lack of there are handled with on their journey home and also their arrival. ‘Weapons Training’ is a dramatic monologue of what can be presumed as wide eyed young soldiers being addressed by a general before they enter the war zone, which