Summary Modigliani & Miller

L1 – Modigliani & Miller (1958) ‘The Cost of Capital, Corporation Finance and the Theory of Investment’ This article mainly discusses the cost of capital, the required return necessary to make a capital budgeting project worthwhile. Cost of capital includes the cost of debt and the cost of equity. Theorist conclude that the cost of capital to the owners of a firm is simply the rate of interest on bonds. In a world without uncertainty the rational approach would be (1) to maximize profits and (2) to maximize market value.When uncertainty arises, these statements vanish and change into a utility maximization. The goal is to get more insight in the effect of financial structure on market valuations. I. Valuation of Securities, Leverage and the Cost of Capital A. The Capitalization Rate for Uncertain Streams In the paper, M&M (1958) assume that firms can be divided into equivalent return classes such that the return on the shares issued by any firm in any given class is proportional to the return on shares issued by any other firm in the same class.This implies that various shares within the same class can differ at most by a scale factor. The significance of this assumption is that it permits us to clarify firms into groups where shares of different firms are homogeneous (perfect substitutes of each other). This again means that in equilibrium in a perfect capital market the price per dollars worth of expected return must be the same for all shares of any given class. This will result in the following formula’s: = pj = the price xj = expected return per share of the firm in class k k= expected rate of return of any share in class k 1/pk = the price which an investor has to pay for a dollars worth of expected return in the class k B. Debt Financing and its Effects on Security Prices In this case, shares will be subject to different degrees of financial risk or leverage and hence will no longer be perfect substitutes for each other. Compan ies will have different proportions of debt in their capital structure and gives a different probability distribution of returns.To exhibit the mechanism determining the relative price of shares under these conditions two assumption are made 1)all bonds yield a constant income per unit of time 2)bonds, like stocks, are trade in perfect market (perfect substitutes) Proposition 1 ‘The value of an unlevered firm is the same as the value of a levered firm’ V = value of the firm S = market value of common stock D = market value of the debts X = expected return on the assets owned by the company (cost of capital)The market value of any firm is independent of its capital structure and is given by capitalizing its expected return at the rate pk appropriate to its class. This shows that the average cost of capital to any firm is completely independent of its capital structure and is equal to the capitalisation rate of a pure equity stream of its class. Capitalization rate (or â €Å"cap rate†) is a measure of the ratio between the net operating income produced by an asset (usually real estate) and its capital cost (the original price paid to buy the asset) or alternatively its current market value.The pure equity stream is showed in the next example: If proposition 1 did not hold, an investor could buy and sell stocks and bonds in such a way as to exchange one income stream for another stream, but selling at a lower price. It would be corrected through arbitrage. Return on a levered portfolio can be written as: Y2 = return from this (levered) portfolio ? = fraction of the income available for the stockholders of the company/fraction total shares outstanding X = expected return rD2 = interest charge Return on a unlevered portfolio looks like this: 1 = fraction/amount invested in stocks S1 = total stocks outstanding To see why this should be true, suppose an investor is considering buying one of the two firms U or L. Instead of purchasing the shares of the levered firm L, he could purchase the shares of firm U and borrow the same amount of money D that firm L does. The eventual returns to either of these investments would be the same. Therefore, the price of L must be the same as the price of U minus the money borrowed D, which is the value of L's debt. Proposition 2 > re = ro + (ro – rd) x D/E = required rate of return on equity (cost of equity) pk = cost of capital for an all equity firm r = required rate of return on borrowings (i. e. , cost of debt or interest rate) D/S = debt to equity ratio That is, the expected yield of a share of stock is equal to the appropriate capitalization rate pk for a pure equity stream in the class, plus a premium related to financial risk equal to the debt-to-equity ratio time the spread between pk and r. C. Some Qualifications and Extensions of the Basic Propositions Effects of Present Method of Taxing CorporationsProposition 1 becomes (with taxes): ? = average rate of corporate income t ax ? = expected net income accruing to the common stock holder Proposition 2 becomes (with taxes): pk can no longer be indentified with the average cost of capital when taxes come into play. Yet, to simplify things the writers will still do this. Effects of a Plurality of Bonds and Interest Rates Economic theory and market experience both suggest that the yields demanded by lenders tend to increase with the debt-equity ratio of the borrowing firm (or individual).The increased cost of borrowed funds as leverage increases will tend to be offset by a corresponding reduction in the yield of common stock. Proposition 1 remains unaffected as long as the yield curve is the same for all borrowers. However, the relation between common stock yields and leverage will no longer be the strictly linear one given by the original Proposition 2. If r increases with leverage, the yield i will still tend to rise as D/S increases, but at a decreasing rather than a constant rate. Yield curve: D. The Rel ation of Propositions 1 en 2 to Current Doctrines.Proposition 1 asserts that the average cost of capital is a constant for all firms j in class k, independently of their financial structure. II. Implications of the Analysis for the Theory of Investments A. Capital Structure and Investment Policy Proposition 3 (Proposition 4 in lecture slides): A firm will exploit investment opportunities if and only if the rate of return on the investment p* is as large as or larger than pk . This will be completely unaffected by the type of security used to finance the investment (bonds or stocks).So the main conclusion is that companies should invest when . Capital structure is a matter of indifference and the problem of the optimal capital structure is no problem at all. B. Proposition 3 and Financial Planning by Firms Misinterpretation of the scope of Proposition 3 can be avoided by remembering that this Proposition 3 tells us only that the type of instrument used to finance an investment is irr elevant to the question of whether or not the investment is worth while.This does not mean that the owners (or managers) have no grounds whatever for preferring one financing plan to another; or that there are no other policy or technical issues in finance at that level. C. The Effect of the Corporate Income Tax on Investment Decisions The cost of capital now depends on the debt ratio, decreasing , as D/V rises, at the constant rate of . Thus with a corporate income tax under which interest is a deductible expense, gains can accrue to stockholders from having debt in the capital structure, even when capital markets are perfect. L1 – Fama & French (1998) ‘Taxes, Financin

Diversity (Women and Lgbt)

Associate Program Material Diversity Organizations Worksheet Complete the following table with notes and thoughts related to your findings: Site| Thoughts/Notes| www. madre. org| International women’s human rights organization that uses human rights to advance social justice. This organization’s mission is to advance women’s human rights all over the world. | http://justice-equality. org| Organization for Justice and Equality. This organization’s goal is the upholding of justice and the promotion of equality in the U. S.Their emphasis is on civil rights, government policies and operations, ethical issues and consumer grievances. | www. thetrevorproject. org| A national organization providing crisis intervention and suicide prevention services to lesbian, gay, bisexual, transgender and questioning youth. This organization is the only one that focuses only on teens and young adults. They are also the leading crisis resource for anti-bullying initiatives. | W rite a 750 to 1,050- word paper answering the following questions: * What has been the status of women in the United States throughout history?Throughout history, women have always been beneath men in the amount of respect they received, the lack of equality of rights and more recently salary. Even though women are stronger than men emotionally and sometimes it seems women are stronger than men when it comes to giving birth and then taking care of the family, while still working a full time job, women still get the short end of the stick. Even the Catholic Church doesn’t recognize women as the head of the household. There is no wonder; the Catholic Church doesn’t allow women in the pulpit either. * What is the status of women in the U. S. oday? The current status of women in the United States has improved a lot in the past 80+ years. Women don’t have to stay at home and raise the children any longer, where in the past there wasn’t a question of it happeni ng. Women now have equal rights in most areas in the country, but they are still behind in the salary department especially in specific industries. Women now hold positions as CEOs of large companies, but again their salary might be a bit lower than that of a man working for a different company The fact that women can take on just about any occupation available is a big change also.There are many occupations that are male oriented, but women have busted through some of those walls also. * What are some examples of concepts or constructions of masculinity and femininity that you see in society and in media? Concepts of masculinity in society lately have been young men sporting short hair again and wearing button down shirts with jeans. Also some middle-age and older men are starting to grow out their beards. This is most noticeable in the media though. Examples of concepts of femininity seem to change too often to notice. It seems though that short skirts are on their way back though in general.I have not noticed anything significant with the women in media or even with celebrities. The only time anything is really noticeable is during the award shows, but then that is just fashion for one evening. * Historically, what has been the social status of GLBT people? Gay, Lesbian, Bi-sexual, Transgender and recently Questioning people have had a harder road than some of the larger minority groups in this country. Many years ago, being a ‘gay’ male or ‘lesbian’, might have meant they were going to lose their friendships or connection to family.The alternative lifestyle has opened up the doors of discussion in churches and all the way up to the White House. They have been an unaccepted people for a very long time. All the people of the GLBTQ community want is to have the same rights as married heterosexuals when it comes to marriage and adoption, as well as just to be accepted for who they are. * What is the status of GLBT people in the U. S. today? Today Gay, Lesbian, Bi-sexual and Transgender people are a lot more accepted then say 30+ years ago, but there is still vast room for improvement.Depending on the state, it is now legal for gay men and lesbian women to get married. The same goes for adoption also. Currently there are about twelve states in the country that do not permit GLBT adoptions. That is because some of those states don’t recognize the couple as a true couple. They are basing their decision on the Bible, even though there is supposed to be a separation of church and state. Since the church does not acknowledge the GLBT lifestyle, they will never be accepted by the church. * What are some social and political issues relevant to women and GLBT people in the U.S.? In politics, women seem to be equal to men in the United States. The Supreme Court got their first female justice on September 25, 1981 when Sandra Day O’Connor was appointed. The next major milestone was the first Hispanic female j ustice. Sonia M. Sotomayor was appointed on August 8, 2009. Because of the last election, the senate has 20 female Senators, which is the most in history. Nancy Pelosi became the first female Speaker of the House. As for members of the GLBT community, there are a handful of gay men and lesbian women who are known in government.Their lifestyle choice did not stop them from getting elected which is hopeful in the long run. They were voted into office because their constituents thought they were the best person for the job. I think the political arena is tougher for GLBT to navigate because it is such a hot topic between church and state and Democrats and Republicans. A person that claims to be conservative won’t be able to also come out as someone from the GLBT community. Most likely because Conservatives don’t accept the GLBT lifestyle to begin with.Socially, women have the edge of GLBT people also. Women have been accepted socially way longer then they had the right to vote. Granted, the socialization was usually just woman socializing with women; it was still an acceptable thing. For the GLBT community, they tend to socialize more amongst themselves than in any other forum. Not saying, they won’t socialize at all with heterosexuals. If they aren’t socializing with people that know they are of that lifestyle, they are not making it known that they are of that lifestyle. REFERENCESJohnson, R. (2013). Where is Gay Adoption Legal? About. com Guide. Retrieved from http://gaylife. about. com/od/gayparentingadoption/a/gaycoupleadopt_2. htm Supreme Court of the United States. (2013) Members of the Supreme Court of the United States. Retrieved from http://www. supremecourt. gov/about/members. aspx Terkel, A. (2012). Women In Senate: 2012 Election Ushers in Historic Number of Female Senators. Huffington Post. com. Retrieved from http://www. huffingtonpost. com/2012/11/07/women-senate-2012-election_n_2086093. html

A part of an author's life that heavily influenced their writing Essay

A part of an author's life that heavily influenced their writing - Essay Example Sylvia Plath was born in Boston, Massachusetts in 1932(â€Å"Sylvia Plath Biography,† 2011). Her early life was marred with tragedy when, at just eight years old, her father died(â€Å"Sylvia Plath Biography,† 2011). Plath’s experience with her father’s death influenced many of the poems that she wrote as both a child and an adult. It was due to this realism that she incorporated into her written works that an eight year old Plath received a measure of success when she had her first poem published in The Boston Herald(â€Å"Sylvia Plath Biography,† 2011). Her poems and stories are said to be primarily autobiographical which illustrates that Plath lived by the motto of writing what she knew. Perhaps the best example of Sylvia Plath’s writing being influenced by her own life can be found in her most famous work The Bell Jar. This novella is about a severely depressed woman who seeks help from a psychiatric hospital. The main character ends up being able to conquer her mental illness by the end of book and appears to go on to live a happy life(â€Å"Plath, Sylvia : The Bell Jar†). The book is said to be largely autobiographical and many of the experiences that the main character has in the book are similar to those experienced by Plath who attempted suicide in 1953 and received treatment at a hospital in Massachusetts(â€Å"Plath, Sylvia : The Bell Jar†). The main character deals with common treatments of the time such as electroshock therapy and psychoanalytic therapy which mirrors Plath’s ordeal at the hospital(â€Å"Plath, Sylvia : The Bell Jar†). Plath dealt with chronic mental illness, and it was her own life experiences that influe nced this particular book as well as her poetry. The happiness that the main character in The Bell Jar displays at the end is likely wishful thinking on Plath’s part as she

Financial Managment about (Mergers & Acquisitions) Essay

Financial Managment about (Mergers & Acquisitions) - Essay Example Periodic environmental appraisal and organizational appraisal lead to generation of strategic alternatives. The strategic alternatives are then evaluated in the context of organizational strengths, weaknesses, opportunities and threats. Expansion strategy is followed when an organization wishes to broaden the scope of its customer groups, functions, alternative technologies etc. Merger and Acquisition (or takeover) strategies basically involve the external approach to expansion. In this process basically two or occasionally more than two entities are involved. Mergers take place when the objectives of the buyer company and the seller company are matched to a large extent, while takeovers or acquisitions are usually based on the strong motivation of the buyer company. Takeovers are frequently classified as hostile takeovers (which are against the wishes of the acquired company) and friendly takeovers (by mutual consent in which case they could also be described as a merger). The purported key principle behind buying a company is to create shareholder value over and above that of the sum of the two companies. In a nutshell the key factors leading to M& A are; A merger is a combination of two or more organizations in which one acquires the assets and liabilities of the other in exchange for shares or cash, or both the organizations are dissolved, and assets and liabilities are combined and new stock is issued. For the organization which is acquired it is merger. For the organization which acquires another, it is acquisition. If both organizations dissolve their identity to create a new organization, it is called consolidation or amalgamation. Mergers are also classified as; Horizontal Mergers: ... For the organization which acquires another, it is acquisition. If both organizations dissolve their identity to create a new organization, it is called consolidation or amalgamation. Mergers are also classified as; Horizontal Mergers: When there is a combination of two or more organizations in the same business, or of companies engaged in similar aspects of production or marketing processes. For example a steel making company combining with another steel making company. Vertical Mergers: When there is a combination of two or more organizations, not necessarily in the same business, which creates complimentary situation either in terms of supply of materials (inputs) or marketing of goods and services (outputs). For example a footwear manufacturing company combining with a leather tannery or with a chain of shoe retail stores. Concentric Mergers: When there is a combination of two or more organizations related to each other either in terms of customer functions, customer groups or alternative technologies used. For example a computer motherboard making company combining with a peripheral devices making company. Conglomerate Mergers: When there is a combination of two or more organizations unrelated to each other, either in terms of customer functions, customer groups, or alternative technologies used. For example an IT company joining hands with a footwear manufacturing company. For mergers to take place two organizations have to act. Both these organization have certain set of reasons for taking this step and accordingly they go into preparations and negotiations. Four key aspects to getting acquisitions right; Pre-deal phase: It includes negotiations and rigorous due diligence like business due diligence, people due diligence, accounting due diligence

Business GP Essay Example | Topics and Well Written Essays - 500 words

Business GP - Essay Example Other areas are also important so explained briefly; the blind spot is what others know about a certain individual, but which the individual does not know about himself, the hidden area which is known only to the individual himself, and the unknown area consists which is unknown to the individual and the others as well. The open area can be used to communicate effectively within the organization. The open area is very important because this introduces the new team members, which in this case would be the Working Better group. When we work in this area, we are at our best and also productive. The open arena is actually seen where good cooperation and communications occur. Also when different teams are grouped, the size of the open area can be expanded horizontally into the blind space so that individuals can learn more about themselves. This can be done by seeking and actively listening to feedback from other people. This can be done by anonymous slips so as to ensure privacy. This cannot be done immediately until or unless the people actually get to know each other first. Ice breakers heighten the effectiveness of training sessions, which will be particularly significant in this conference. On the first day, everyone needs to introduce himself/herself and this can be done in a comfortable manner through the ice breaker exercises. One exercise that can be done effectively is that after everyone has stated their names, a manual can be handed out to any random person that he/she should start with any word. That same person will ask the next person to continue with any other word. For example, the person with the manual states ‘I’, the person next to him might say ‘am’ and this continues on. Not only it shows dependency on other team members which illustrates that team work is important, it creates humor when people can come up with any random words, hence breaking

The Marketing Planning of L'Oreal Organisation Essay

The Marketing Planning of L'Oreal Organisation - Essay Example This research will begin with the statement that L’Oreal Group is a leading company that markets a wide range of cosmetic products. The corporate products are sub divided-well in order to help the company to become an important player in beauty industry across the globe. Notwithstanding the intensity of competition that exists, it is beneficial to analyze the company’s internal and external profile to gain an understanding of its strategic planning process. The term marketing as an exchange process refers to a concentrated term in relation to the marketing concept. It is originally defined as a transaction by which two or more parties offer a benefit or value to others with a view to satisfying their prospective needs. Companies receive a benefit of selling goods through a market which incorporates a wide range of products and services while end-users obtain commodities they desire from the market. Therefore, both parties including the firms and end users/customers gain in this exchange process. This can occur in a transactional form which means that a consumer buys a particular brand because of self-interest or in form of relational exchange if long-term orientation has taken place. In case of L’Oreal, it can be seen that the company utilizes this concept when conducting its business. The exchange between L’Oreal and its customers result in transactions where the customers buy the products offered and the company gets money. The main goal of L’Oreal is to facilitate and increase its sales transactions through convincing the existing customers and potential customers to purchase its products. As such, it uses the marketing exchange process to assess the trade-offs it needs in order to satisfy its wants and needs, as well as its customer’s wants. L’Oreal’s objective is to create safe and effective quality beauty products for its customers. It is a company that values establishing a strong consumer relations hip.

Summary the al chemist book Essay Example | Topics and Well Written Essays - 250 words

Summary the al chemist book - Essay Example While he has to understand the importance of realizing his dreams, Santiago needs control over his fear of failure and defeat, which he may face, as he continues his quest for fortune. The characters of the story include, apart from Santiago, the gypsy woman, the old king, the crystal merchant and the English man. The story tells the alchemist being a 200 year old man, who lives at the Al-Fayoum oasis, this man has an intuition of Santiago coming to him and thus Alchemist feels his responsibility to lead and guide him in his pursuits. All these characters play an important role in his quest. As Santiago dreams about a child leading him to the pyramids of Egypt, the gypsy woman motivates him for going there, while Santiago meets the old king, who teaches him about the omens. As he buys a ticket for going to Tangier, Santiago is robbed of all his money, after he arrives there. Accordingly, Santiago has to work for the crystal merchant for almost one year, to collect money for returning home. (The Alchemist) Like all those who want to realize their dreams, Santiago needs doing something different and in this direction, he must trust completely the Alchemist, although the man may look mysterious and unreliable. He surely has knowledge, which Santiago can use. Although Santiago faces many obstacles, during his adventure and travel, he always has a clear vision about his aim and the path that he needs taking for realizing the same. Ultimately he realizes his dreams, which turn out to be far better than his expectations.( The Alchemist Summary & Study Guide

Can it be decided by you Essay Example | Topics and Well Written Essays - 2500 words

Can it be decided by you - Essay Example However, their strong holds were later to be shaken. As a matter of fact the major political changes in the region occurred from 1809 to 1825. This is according to the historyworld.net website. (historyworld.net, 2009) The royal family of Portugal stayed on in Brazil and a treaty was signed between Portugal and England in 1810 and this overlapped the treaty of Methuen of the year 1703. This recognized a direct accessibility to Brazil by the traders of Britain which made faster the movement towards the political independence of Brazil. (Birmingham, 2003 p99) This study is set out to analyze the Brazilian case of independence movement and make a comparison of this case with other Latin American Spanish colonized states. To this an answer will be provided for the study question, â€Å"How was the Spanish- Latin American countries’ independence movements more violent compared to Brazil?† The Brazilian case of decolonization was not devoid of bloodshed. This is as it is written on the about.com website. Towards the end of year 1821, the Cortà ©s were involved in a voting, with just few Brazilian delegates taking part. The voting led to the abolishment of the kingdom of Brazil as well as the royal Rio de Janeiro agencies. The voting also sought to ensure that all provinces subordinated directly to the city of Lisbon. Subsequently, Portugal drove its army troops to Brazil and also placed all the units of Brazil under the command of Portugal. In the beginning of year 1822, the Brazilians who were born in Portugal and the troops of Portugal had a lot of tension between them. This turned into a violent ordeal when Pedro made an acceptance of Brazilian towns’ petitions who wanted his refusal of the order by Cortà ©s to go back to Lisbon. Following this, Pedro responded to the pressure as well as the fact that if he dismantled the central government and departed it would cause separatist movements, by vowing to

Analyzes paper on Medea Essay Example | Topics and Well Written Essays - 1000 words

Analyzes paper on Medea - Essay Example Pasolini’s Medea effectively shows the clash that exists between ancient and old fashioned culture and the modern civilization. Through the relationship between Medea and Jason, viewers are shown how archaic or outdated culture is crashed in the hands of modern culture and the new ways of doing things. Given that the movie takes place in the 1960s, Europe, like most parts of the world at the time, was experiencing change. Through the film, Pasolini effectively shows how different groups in the society attempted to resist such changes, but were overpowered by the wave of modernity. The old was paving way for the new. In this movie, Pasolini successfully brings out the clash between the old and the new, and how the old cultures eventually die in the hands of the modern revolutionary ways. Medea is shown to be a woman of the old, ancient world who is overtaken by the changes taking place in the new world. Medea is portrayed as a woman who experiences reality in a totally differen t way, and sees herself as the only thing that has remained unchanged over time. She still holds onto barbaric and outdated traditions and practices. For example, after the boy is sacrificed and sliced into portions, other larger pieces are burnt. Medea is shown to use a kind of wheel that spins the smoke across the fields. This is an illustration of how Medea believed and prompted old-fashioned practices such as the making of human sacrifices. Her husband Jason and the two children are used to represent modernity. Jason realizes that Medea is too old fashioned for him and decides to marry the daughter of the king, who is much younger. This illustrates who modernity overpowers the old ways. Medea is used to illustrate the sufferings of the ancient people. Through the movie, Pasolini figuratively shows the audience the kind of anguish and pain the ancient people went through in the hands of other barbaric individuals. The movie thus successfully reminds the audience of the need to

How business works Essay Example for Free

How business works Essay Introduction In this assignment I will be producing a case study on large/medium sided businesses, showing of how business works. My chosen company is McDonalds. The following will be including in my case study: * A description of what the business does, its aims and objectives. * A description of the purposes and activities of human resources and any other three functional areas. * A description of how effectively different areas of the business communicate. * A description of how the structure of the business is different from another organisations structure. * A record of my sources information. McDonalds Restaurant OverView McDonalds is a large fast food chain of restaurants operating world wide, started in America and has outlets in other places such as, India, Cyprus. In many countries McDonald s sells variations of its food to cater for local tastes. They are also known for being multicultural because of the different cultural foods in their restaurants. Because of their huge volume of sales McDonalds has strong purchasing power with its suppliers and is therefore able to sell food very competitively. By the end of 2001 their was 1,184 restaurants in the UK alone. They had a target to get over 80 new restaurants opened by 2002, and that was achieved. By opening over 80 new restaurants they employed 4,800 new employees. ACTIVITY, AIMS OBJECTIVES (P1, D2) Main Activity The main activity of McDonalds is selling fast food. They aim to provide a customer service, there are 1.5 million employees working for McDonald restaurants in the 119 countries, which all have the same daily activities which involves the staff in greeting, serving and helping customers with any enquiries or problems. They are the largest food service company in the world, so its important that all employees work together to succeed their aim. Main Aim McDonalds main aim is to provide customers with a fast food service in order to obtain a profit for its shareholders. McDonalds are committed to conducting their business with the environment in mind. McDonalds mission statement is To be the worlds best quick service restaurant. This is being achieved through five strategies such as; * Development: Lead the quick service restaurant market by a programme of site development profitable restaurant openings. * Our People: Achieve a competitive advantage through people who are high calibre, effective, well motivated and feel part of the McDonalds team in delivering the companys goals. * Restaurant Excellence: Focus on consistent delivery of quality, service and cleanliness through excellence in our restaurants. * Operating Structure: Optimise restaurant performance through the selection of the most appropriate operating, management and ownership structures. * The Brand: Continue to build the relationship between McDonalds and our customers in order to be a genuine part of the fabric of British society. Objectives McDonalds objective is to be the bests quick service restaurant and believes and believes that this involves avoiding damage to the environment at a local and global level. The company aims to ensure that its operations today do not have an effect on the lives of future consumers. McDonalds is involved in an ongoing programme with the aim to improve the environment, they do this by reusable packaging and recycling. Functional Areas within McDonalds (P2, M1, D2) HUMAN RESOURCES The Human Resources department concentrates on employees who work for the McDonald restaurants. Human Resources department include managing staff and their welfare, so the safety of their staff is taking very seriously, this all comes under Health and Safety. Staff have to be careful not to use computers/tills for long periods of time because they can suffer from eyestrain, tiredness or stress. McDonalds is improving communication systems by installing panic buttons for the safety against violent customers. McDonalds employees have to work together to ensure a hazard free zone, by adhering to the health and safety regulations. McDonalds puts new employees on to a training system, to make sure if an accident happens which involves either a member of staff or a customer getting hurt, then the employee will be able to handle the situation effectively. McDonalds restaurants work to high standards, which meets and mostly exceeds the rules and regulations. The company always aims for the highest standards given in guidelines because of health and safety regulations and to expand the business. If McDonalds didnt meet the requirements than they would be closed down by the health and safety executives. The Human Resources department contributes to McDonalds activity by making sure: * They employ the right staff * Making sure the store is a hazard free zone These things contribute to the activity of McDonalds because without them they wouldnt be able to achieve their aim, so its important that all the different departments work together to succeed it. Recruitment, Training and Development When recruiting staff McDonalds look for people who have a positive attitude towards customers, themselves and other employees, and who are capable of delivering the highest standards of quality, service and cleanliness to our customers. Then potential employees are trained, promoted and treated on the basis of their relevant skills, talents and performance and without reference to race, colour, nationality, ethnic origin, sexual orientation, gender, marital status, age and disability. McDonalds management development curriculum takes new recruits form trainee manager to restaurant manger. They have on-the-job training and open learning development modules, backed up with courses and seminars at the companys national and regional training centres. Hourly paid staff receive continuous on-the-job training by computer based training and other training materials. When employees complete their initial training staff members are awarded a basic certificate in food hygiene. Employees Below are the figures of the staffs gender and age status. By the end of 2000 McDonalds employed 49,726 members of staff: * 46, 207 restaurant crew * 2, 974 restaurant management crew * 545 office staff Health and Safety McDonalds always aims for the highest standards (and mostly exceeds), so they can achieve its aim and be the best quick service restaurant. If McDonalds didnt meet the requirements of the health and safety act 1974 than they would be closed down by the health and safety executives. The most common hazards which occur in a work place are: 1. Leaving the work place untidy and dirty 2. Leaving floors wet and stairs 3. Leaving wires to trial across passageways 4. Frayed carpet or loose tiles 5. Equipment just left all over work surfaces 6. Too many plugs inserted into only one electric socket The human resources department has to make sure that all health and safety regulations are met. If they are not met then it can be closed down, also if the restaurant is unclean then it could loose customers and wouldnt keep up their activity to be the best selling fast food restaurant. Customers wouldnt want to go to a dirty restaurant, where there are a lot of hazards going on such as; wet shop floor, bins over filled, dirty tables and a unclean kitchen area. If any of these hazards occurred in any McDonalds restaurants customers could become ill or hurt, which would result in McDonalds going to court or having to closed the McDonalds restaurant down. Management training includes coping with emergency situations that could arise in a restaurant. This is because it decreases the risk of people being injured or the buildings being damaged in the McDonald restaurants. When an accident has occurred the manager then has to write out what happened and then investigate on the matter. Training is the main priority to ensure the consistency of the restaurant operation, and the highest levels of customer service and care. Every McDonalds franchisee must successfully complete a training programme which takes on average nine months to complete. Trade Union The workers are represented by union of shop, distributed and allied worker. Job Roles In Human Resources Job Roles In the Human Resources function Carmel Flatley, Human Resources Director I am the human resources director of McDonalds and I have the overall decision of anything that happens in this department. I also have to make sure that the human resources department dont go over their budget. Paul Smith, Human Resources Manager I look after the whole HR department and staff, involved with industrial relations and trade unions negotiations, implementing the organisations HR policies. Gemma Wilson, Recruitment officer I deal with recruiting people, thats sending out application forms, making interviews for potential employees. Potential employees dont need to be experience in any way, because McDonalds is committed to training their staff and improving the skills of staff. Matthew Lawrence, Health and Safety Officer I deal with all health and safety matters, accident monitoring and staff welfare. That involves making sure that the shop floor is a hazard free zone for customers and clean and tidy, making sure the kitchen is clean enough to work in. I am well trained in first aid so that if any accidents happen, I will be their to help. I also have to deal with complaints and try to solve them. FINANCE The finance is one of the most important functions as they record all the money going in and out of the business, they give a budget for each other department to spend to make sure they keep their level of income and expenditure. They would regularly check the amount of money each department has spend and made to see if they are on target or not. If a department has gone over their budget then the finance dept would check to see if there is enough money to lend those more. So the purpose of the financial function therefore is to: * Keep all the financial records required by the organisation, detailing all the receipts and payments that have been made * Prepare final accounts from these records as required by law * Monitor the income and expenditure of different departments against their budgets * Provide continuous, up to date financial information for managers about business performance * Pay salaries and wages to the staff * Pay amounts owing to suppliers * Control the levels of debts owed to the company * Obtain additional finance when required, from the most appropriate source * Advise senior managers on the financial implications of major decisions These contribute to the McDonalds activity by being apart of providing a good customer service by, paying the employees their salaries/wages, if they werent paid they wouldnt be no staff or it could result in the staff withdrawing their labour. Production will cease and the employer will lose revenue. By McDonalds receiving more capital they can improve the quality of the store or products so customers would be more pleased of the in store environment or pleased of what they have purchase. It would result in consumers returning to the store because of the good service and also bringing more money to the business which will also achieve their aim which is to be the best selling fast food restaurant. Job Roles in Finance Department JOB ROLES George Mackay, Finance Director I am the finance director and I am in charge of the whole finance department. It involves information services, new product development, quality assurance and supply chain. I have to make sure a product which is purchased has the right quality that is expected from consumers, and then have to put a price to it. The most important part of the finance department is the cash flow which is the movement of cash going in and out a business. As a finance director I have to gives advice to senior managers on the overall decision on financial matters. And also as a director I have the last say with what happens within the finance department. Christopher Bateman, Financial Manager I looks after the finance function and the staff. Advising on financial resources. As a manager I have to make sure that all work as been done well. E.g. they have to monitor the income and expenditure of all departments to make sure they havent gone over their budget. So after the staff have checked their cash flow I then have to then go threw it to make sure nothing has been missed out. Derek, Daniels, Ledger Clerk I have to assist the chief accountant in the recording of all financial transactions. So where the money goes or comes in I have to make sure the chief accountant has recorded it all effectively. If any mistakes have been made I then have to correct the errors. Nita Negi, Credit Control Clerk As a credit control clerk, I have to assist the credit controller in checking the credit status of new customers and existing accounts, and also Reminding customers or overdue payment. PRODUCTION Production is all about the process of making something. Product life style shows the stages of a product or a range of products. If it isnt successful it goes to decline stage. The activities of the production department are listed below: * Obtaining the resources required to produce goods or provide a service * Organising the resources to produce the goods or provide the service in the most appropriate way For the activities to be achieve they must consider the aim of the business which is to be the best selling fast food restaurant, so they have to find the best quality of food that suits them and then order it but first having to keep on target and not going over their budget by ordering expensive items or ordering to much that it all cant be produced/sold. Another thing they must consider is if the resources can be organised to achieve the aims, doing this they have to think about selling it cheaper then their competitors or having an offer like buy on get on free. They do this so it sells more because people wouldnt to spend more they would go to the most cheapest place or giving the product an offer can be appealing to the customers. The production department contributes to McDonalds activity by finding the right products at the right prices. When good quality products are sold at low prices it pleases customers and make them want to return, it also brings in more people as when a customer is pleased with the type of service they have receive the consumer then tells several other people, which makes then want to try it out. Job roles in Production Job Roles in Production Steven Cornway, Production Manager Responsible for the entire production function and its operations. What ever goes on has to be checked and authorised by me. Kim Karenga, Production Planners Plan all production to maximise machine use and staffing, taking account of customer requirements. Chris Walker, Production Controllers To check all production is going to schedule. Ted Osborne, Designers I am responsible for the actual design of the finished product. So if I dont like the way a product has been designed I can make remendments. MARKETING The object of marketing is to make sure that the right product is made and potential customers are persuaded to buy it. Market Research can be carried out through either primary or secondary research. Primary research means asking someone on their views or opinions. A way of asking potential customers of their views or opinions is to make sure a survey, having questions about a certain item. After the survey has been completed they will then need to send out the surveys to potential customers, by either online, over the phone, by post or giving out surveys (in stores. Postal surveys dont have much of a response as the others do as it takes more time e.g. sending it back, so when postal surveys are concerned their will usually have to be some kind of incentive offered for completing the survey, so customers would be tempted to fill it out. Secondary research is known as desk research. It consists to looking up facts or figures in books, magazines, computer databases, company files. So secondary research is looking at information that already exists instead of creating your own. McDonalds keeps a large amount of information on their databases about their customers and their buying patterns, also companies buy information from government statistics. Product The amount of products the customer wants, the quality wanted, the features and the styling that are preferred, whether packaging is important, whether a guarantee or after sales service is required. Strategies Is a long term plan for future success or development. Place McDonalds are located on high streets or town centres. Marketing contributes to the McDonalds activity by market research (finding out what potential customers wants/needs), and improving existing products. Both of these improve the customer service, marketing contribute a lot to their activity to make McDonalds achieve their activity. All the functions work together to achieve it. The job roles of Marketing Job Roles in Marketing Matthew Howe, Marketing Director I am responsible for the overall marketing function and its aims and objectives. So if any ideas have been thought of they have to been checked with me before anyone goes ahead and makes a change. Ethan Farah, Sales Manager As a sales manager I am responsible for overseas agents and the achievement of sales targets overseas. David Frank, Market Researchers Market researchers have to find out consumer opinions on current and proposed goods and services, if this is not done than they could bring out a product which isnt doesnt sell a lot and a loose the money they put in to produce the products. Advertising Manager An advertising manager is in charge of advertising and liaising with agency staff over publicity campaigns. Advertising is one of the most important things in marketing as without advertising a product will not be known so their would sell as well as products being advertised. EQUAL OPPORTUNTIES (P3, M2, D2) In a work placement an employee has rights and responsibilities. Below are the rights and responsibilities of an employee. Rights as an employee Employees rights How to carry it out Having safe working conditions Making sure that the area your working is a hazard free zone, if not consult your manager or the human resources area. It is also your job to take care with anything you do to prevent any hazards happening. Getting paid the fair salary/wage Depending on your age, experience and contract, employees get paid differently. You have to make sure that your getting a fair paid if not consult your manager. You should first read your contract because you might have signed for getting paid the amount youre getting. Provided information concerning your rights Before starting your job you will be provided with information about the rights an employee has. (mainly in your contract) If youre not provided with this information you are able to ask for it. Not to be discriminated on grounds of race, sex or disability If you feel that your getting treated unfairly according to your race, sex or disability your able to take up action like consulting your trade union. To be consulted over matters which will significantly affect your terms and conditions of employment If you employer decides to change something, which affects the terms and conditions on you employment and does not consult you first, you can take action upon this. Responsibilities for an employee Employees responsibilities How to carry it out To be ready and willing to work Its always good to be full with enthusiasm in your work because it looks good for the company and make you happier in your work To give a personal service Your contract will contain you main job roles, but its always good to provide your own service like putting your ideas into your work, smiling and just any other little thing. To treat others how you would like to be treated If youre rude and dishonest than fellow staff would treat you the same. Its important to work as a team and communicating well with other people, this can only be done if you treat people well. To work towards the objectives of the business Working towards the objectives of a business could look good on you and on the business, if the employer see s you are working hard than it could result in the employee being promoted. To work in good faith Working in good faith consists of being honest, if youre honest it again can see that youre trustworthy and could get promoted. But yet if your seen lying than you could loose your job. COMUNNICATION (P4, M3, D1, D2) Most organisations have different ways of communicating, communicating is one of the most important things in a business, because without communicating you cannot run a business effectively. They are all types of communicating, below is a list of ways of communicating within a business. * Meetings * Group discussions * Tele phone * Memos * Emails * Draft letters * Reports * Faxes There are two main methods of communication which are oral and written communication. Oral communication could be either face to face or the over the phone. If you cant get threw to the person you are calling then you can leave a message which is still oral communication. Written communication could be sent by mail or transmitted electronically. This can include letters which is the most common one, text messages on mobile phones or notices on notice boards. Below are the advantages and disadvantages about oral and written communication. Oral Written Advantages 1. Its a fast way of communicating because you dont have to write things down. 2. Its cheap, as if you phone someone you would have to pay for the phone call. 3. Immediate feedback, you dont have to wait ages for someone to reply back to you as you would in a letter. 1. Writing a message can be retained for future reference. 2. Writing a message can also be copied for other peoples uses. 3. Creates a distance between sender and recipient useful for difficult communication, e.g. bad news. Disadvantages 1. Clear Speech, you must speak very clearly so that other people can understand you, but yet when you write a letter people can just read it in their own pace. 2. Long or complex messages can be forgotten. 3. You can be easily distracted while someone talks to you, and then you could forget the whole message they just told you. 1. When writing a letter it can take time to write, while if your talking to someone its faster.] 2. Keyed in documents need to be skilled and produced quickly and accurately. 3. Delivery can take time, or could be delayed. McDonalds functional areas communicate with each other by a system called Intranet which was launched in 2000. The McDonalds intranet provides a fast and up to the minute source of information for the McDonalds restaurant management and office staff. McDonalds external communication is dont by a system called McNews which was launched in 2000. McNews is a award wining magazine which was published monthly for all restaurant staff, then in 2002 McNews was re launched as MDUK and is now a lively focused magazine. MDUK has activities and events from restaurants around the country. MDUK is a showcase for best practice, recognising individuals outstanding practices and achievements, as well as highlighting internal and external awards. Apart from the Intranet and MDUK, McDonalds also has other ways of communicating within the business, they are listed below. 1. An email system operates in all offices and company owned restaurants 2. Regular staff communication sessions are held in the offices 3. Employee satisfaction surveys for both office and restaurant staff are held annually. 4. Meetings are held monthly. 5. Memos send daily An email system is to contact anyone within the business or outside the business, the email system is a fast and easier way to contact people. The email system is used by most companies and general people all over the world. Staff communication sessions are held to improve of employees communication skills. This is important because communicating with customers is one of the main things to do. Employee satisfaction surveys are handed out every year, so employees can write how they feel working in the McDonalds restaurants. This is a good thing to do because its important to keep the staff happy as it motivates the staff to work harder. Meetings are held every month to discuss the McDonalds performance. They also talk about how much they are making and see what can be improved with the money. McDonalds talks about new ideas and try to change or promote things that is not doing so well. This is a good way of communicating as you get to talk face to face to see the expressions on each other faces and its faster as you dont have to way for a reply if you do if you was writing an email. Memos are used daily in all of the departments. Sales manager might send a memo to human resources manager and ask if he has found a sales person. Memos are used daily because they are important little messages, and its also a fast way of sending.

Load Flow Analysis For Electricity Supply Engineering Essay

Load Flow Analysis For Electricity Supply Engineering Essay Power flow studies, commonly referred to as load flow, are essential of power system analysis and design. Load flow studies are necessary for planning, economic operation, scheduling and exchange of power between utilities. Load flow study is also required for many other analyses such as transient stability, dynamic stability, contingency and state estimation. Network equations can be formulated in a variety of forms. However, node voltage method is commonly used for power system analysis. The network equations which are in the nodal admittance form results in complex linear simultaneous algebraic equations in terms of node currents. The load flow results give the bus voltage magnitude and phase angles and hence the power flow through the transmission lines, line losses and power injection at all the buses. 1.1 BUS Classification Four quantities are associated with each bus. These are voltage magnitude, phase angle ÃŽÂ ´, real power P and reactive power Q. In a load flow study, two out of four quantities are specified and the remaining two quantities are to be obtained through the solutions of equations. The system buses are generally classified into three categories. Slack bus: Also known as swing bus and taken as reference where the magnitude and phase angle of the voltage are specified. This bus provides the additional real and reactive power to supply the transmission losses, since there are unknown until the final solution is obtained. Load buses: Also know as PQ bus. At these buses the real and reactive powers are specified. The magnitude and phase angle of the bus voltage are unknown until the final solution is obtained. Voltage controlled buses: Also known as generator buses or regulated buses or P- buses. At these buses, the real power and voltage magnitude are specified. The phase angles of the voltages and the reactive power are unknown until the final solution is obtained. The limits on the value of reactive power are also specified. The following table summarizes the above discussion: 1.2 BUS Admittance Matrix In order to obtain the bus-voltage equations, consider the sample 4-bus power system as shown in Fig. 1.1 1.1 The impedance diagram of sample 4-bus power system For simplicity resistances of the lines are neglected and the impedances shown in Fig.1.1 are expressed in per-unit on a common MVA base. Now impedances are converted to admittance, i.e, = 1.1 Fig.1.2 shows the admittance diagram and transformation to current sources and injects currents at buses 1 and 2 respectively. Node 0 (normally ground) is taken as reference. 1.2 the admittance diagram of 1.1 Applying KCL to the independent nodes 1,2,3,4 we have Rearranging the above equations, we get Let, The node equations reduce to Note that ,in Fig.1.2, there is no connection between bus 1 and bus 4, so Above equations can be written in matrix form, 1.2 or in general 1.3 Where vevtor of the injected currents (the current is positive when flowing into the bus and negative when flowing out of the bus) admittance matrix. Diagonal element of Y matrix is known as self-admittance or driving point admittance, i.e. 1.4 Off-diagonal element of y matrix is known as transfer admittance or mutual admittance, i.e. 1.5 can be obtained from equation (1.3), i.e. 1.6 From Fig.1.2, elements of Y matrix can be written as: So 1.3 BUS Loading Equations Consider i-th bus of a power system as shown in Fig.7.4. transmission lines are represented by their equivalent à Ã¢â€š ¬ models. is the total charging admittance at bus i. Fig 1.4: i-th bus of a power system Net injected current into the bus I can be written as : 1.7 Let us define 1.8 Or 1.9 The real and reactive power injected at bus is is 1.10 From equations 7.9 and 7.10 we get 1.11 1.12 1.4 BUS Impedance Matrix The bus impedance matrix for en t 1T nodes can be written as Unlike the bus admittance matrix, the bus impedance matrix cannot be formed by simple examination of the network circuit. The bus impedance matrix can be formed by the following methods: à ¢- Inversion of the admittance matrix à ¢- By open circuit testing à ¢- By step-by-step formation à ¢- From graph theory Direct inversion of the Y matrix is rarely implemented in computer applications. Certain assumptions in forming the bus impedance matrix are: 1. The passive network can be shown within a closed perimeter, (Fig.1.3). It includes the impedances of all the circuit components, transmission lines, loads, transformers, cables, and generators. The nodes of interest are brought out of the bounded network, and it is excited by a unit generated voltage Fig.1.3 Representation of a network as passive elements with loads and faults excluded. The nodes of interest are pulled out of the network and unit voltage is applied at the common node. 2. The network is passive in the sense that no circulating currents flow in the network. Also, the load currents are negligible with respect to the fault currents. For any currents to flow an external path (a fault or load) must exist. 3. All terminals marked 0 are at the same potential. All generators have the same voltage magnitude and phase angle and are replaced by one equivalent generator connected between 0 and a node. For fault current calculations a unit voltage is assumed 1.5 POWER IN AC CIRCUITS The concepts of instantaneous power, average power, apparent power, and reactive power are fundamental and are briefly discussed here. Consider lumped impedance Z, excited by a sinusoidal voltage E (1.13) (1.14) The first term is the average time-dependent power, when the voltage and current waveforms consist only of fundamental components. The second term is the magnitude of power swing. Equation (1.2) can be written as (1.15) The first term is the power actually exhausted in the circuit and the second term is power exchanged between the source and circuit, but not exhausted in the circuit. The active power is measured in watts and is defined as (1.16) The reactive power is measured in var and is defined as: (1.17) These relationships are shown in Fig. 1.4; cosÃŽÂ ¸ is called the power factor (PF) of the circuit, and ÃŽÂ ¸ is the power factor angle. The apparent power in VA is given by (1.18) The power factor angle is generally defined as (1.19) If cosÃŽÂ ¸=1, Q=0. Such a load is a unity power factor load. Except for a small percentage of loads, i.e., resistance heating and incandescent lighting, the industrial, commercial, or residential loads operate at lagging power factor. As the electrical equipment is rated on a kVA basis, a lower power factor derates the equipment and limits its capacity to supply active power loads. The reactive power flow and control is one important aspect of power flow. The importance of power factor (reactive power) control can be broadly stated as: à ¢- Improvement in the active power handling capability of transmission lines. à ¢- Improvement in voltage stability limits. à ¢- Increasing capability of existing systems: the improvement in power factor for release of a certain per unit kVA capacity can be calculated from Eq. (10.6): where PFimp is improved power factor, PFext is existing power factor, and kVAava is kVA made available as per unit of existing kVA. à ¢- Reduction in losses: the active power losses are reduced as these are proportional to the square of the current. With PF improvement, the current per unit for the same active power delivery is reduced. The loss reduction is given by the expression: Where Lossred is reduction in losses in per unit with improvement in power factor from PFext to PFimp. An improvement of power factor from 0.7 to 0.9 reduces the losses by 39.5% à ¢- . Improvement of transmission line regulation: the power factor improvement improves the line regulation by reducing the voltage drops on load flow. All these concepts may not be immediately clear and are further developed. Fig 1.4 1.5.1 Complex Power If the voltage vector is expressed as A t jB and the current vector as C t jD, then by convention the volt-ampe`res in ac circuits are vectorially expressed as E= (A +jB) (C- jD) = AC +BD +j(BC-AD) = P+ jQ (1.20) where P = AC t BD is the active power and Q BC _ AD is the reactive power; I_ is the conjugate of I. This convention makes the imaginary part representing reactive power negative for the leading current and positive for the lagging current. This is the convention used by power system engineers. If a conjugate of voltage, instead of current, is used, the reactive power of the leading current becomes positive. The power factor is given by cosÃŽÂ ¸= (1.21) 1.5.2 Conservation of Energy The conservation of energy concept (Tellegens theorem) is based on Kirchoff laws and states that the power generated by the network is equal to the power consumed by the network (inclusive of load demand and losses). If i1; i2; i3; . . . ; in are the currents and v1; v2; v3; . . . ; vn the voltages of n single-port elements connected in any manner: (1.22) This is an obvious conclusion. Also, in a linear system of passive elements, the complex power, active power, and reactive power should summate to zero: (1.23) (1.24) (1.25) 1.6 POWER FLOW IN A NODAL BRANCH The modeling of transmission lines is unique in the sense that capacitance plays a significant role and cannot be ignored, except for short lines of length less than approximately 50 miles (80 km). Let us consider power flow over a short transmission line. As there are no shunt elements, the line can be modeled by its series resistance and reactance, load, and terminal conditions. Such a system may be called a nodal branch in load flow or a two-port network. The sum of the sending end and receiving end active and reactive powers in a nodal branch is not zero, due to losses in the series admittance Ysr (Fig. 1.5). Let us define Ysr, the admittance of the series elements= j or Z= zl= l(+j)= + =1/Ysr, where l is the length of the line. The sending end power is = Where is conjugate.This gives where sending end voltage is Vs and, at the receiving end: If is neglected: where ÃŽÂ ´ in the difference between the sending end and receiving end voltage vector angles= (. For small values of delta, the reactive power equation can be written as Fig1.5 Power flow over a two-port line. where is the voltage drop. For a short line it is Therefore, the transfer of real power depends on the angle ÃŽÂ ´, called the transmission angle, and the relative magnitudes of the sending and receiving end voltages. As these voltages will be maintained close to the rated voltages, it is mainly a function of ÃŽÂ ´. The maximum power transfer occurs at ÃŽÂ ´=90(steady-state stability limit). The reactive power flows is in the direction of lower voltage and it is independent of ÃŽÂ ´. The following conclusions can be drawn: 1. For small resistance of the line, the real power flow is proportional to sin ÃŽÂ ´. It is a maximum at ÃŽÂ ´=90ËÅ ¡. For stability considerations the value is restricted to below ÃŽÂ ´=90ËÅ ¡. The real power transfer rises with the rise in the transmission voltage. 2. The reactive power flow is proportional to the voltage drop in the line, and is independent of ÃŽÂ ´. The receiving end voltage falls with increase in reactive power demand. 2.1 Practical Load Flow The requirements for load flow calculations vary over a wide area, from small industrial systems to large automated systems for planning, security, reactive power compensation, control, and on-line management. The essential requirements are: à ¢- High speed, especially important for large systems à ¢- Convergence characteristics, which are of major consideration for large systems, and the capability to handle ill-conditioned systems. à ¢- Ease of modifications and simplicity. i.e. adding, deleting, and changing system components, generator outputs, loads, and bus types. à ¢- Storage requirement, which becomes of consideration for large systems The size of the program in terms of number of buses and lines is important. Practically, all programs will have data reading and editing libraries, capabilities of manipulating system variables, adding or deleting system components, generation, capacitors, or slack buses. Programs have integrated databases, i.e., the impedance data for short-circuit or load flow calculations need not be entered twice, and graphic user interfaces. Which type of algorithm will give the speediest results and converge easily is difficult to predict precisely. Table.2.1 shows a comparison of earlier Z and Y matrix methods. Most programs will incorporate more than one solution method. While the Gauss-Seidel method with acceleration is still an option for smaller systems, for large systems some form of the NR decoupled method and fast load-flow algorithm are commonly used, especially for optimal power flow studies. Speed can be accelerated by optimal ordering .In fast decoupled load flow the convergence is geometric, and less than five iterations are required for practical accuraci es. If differentials are calculated efficiently the speed of the fast decoupled method can be even five times that of the NR method. Fast decoupled load flow is employed in optimization studies and in contingency evaluation for system security. The preparations of data, load types, extent of system to be modeled and specific problems to be studied are identified as a first step. The data entry can be divided into four main categories: bus data, branch data, transformers and phase shifters, and generation and load data. Shunt admittances, i.e., switched capacitors and reactors in required steps, are represented as fixed admittances. Apart from voltages on the buses, the study will give branch power flows; identify transformer taps, phase-shifter angles, loading of generators and capacitors, power flow from swing buses, load demand, power factors, system losses, and overloaded system components. No. Compared parameter Y matrix Z matrix Remarks 1 Digital computer memory requirements Small Large Sparse matrix techniques easily applied to Y matrix 2 Preliminary calculations Small Large Software programs can basically operate from the same data input 3 Convergence characteristics Slow, may not converge at all Strong Both methods may slow down on large systems 4 System modifications Easy Slightly difficult See text 2.2 Y-Matrix Method The Y-matrix iterative methods were the very first to be applied to load flow calculations on the early generation of digital computers. This required minimum storage, however, may not converge on some load flow problems. This deficiency in Y-matrix methods led to Z-matrix methods, which had a better convergence, but required more storage and slowed down on large systems. Some buses may be designated as PQ buses while the others are designated as PV buses. At a PV bus the generator active power output is known and the voltage regulator controls the voltage to a specified value by varying the reactive power output from the generator. There is an upper and lower bound on the generator reactive power output depending on its rating, and for the specified bus voltage, these bounds should not be violated. If the calculated reactive power exceeds generator Qmax, then Qmax is set equal to Q. If the calculated reactive power is lower than the generator Qmin, then Q is set equal to Qmin. At a PQ bus, neither the current, nor the voltage is known, except that the load demand is known. A mixed bus may have generation and also directly connected loads. The characteristics of these three types of buses are shown in Table 2-1. Bus type Known variable Unknown variable PQ Active and reactive power Current and voltage PV Active power and voltage Current and reactive power Swing Voltage Current, active and reactive power 2.2.1 GAUSS AND GAUSS-SEIDEL Y-MATRIX METHODS The principal of Jacobi iteration is shown in Fig. 2.1. The program starts by setting initial values of voltages, generally equal to the voltage at the swing bus. In a well-designed power system, voltages are close to rated values and in the absence of a better estimate all the voltages can be set equal to 1 per unit. From node power constraint, the currents are known and substituting back into the Y-matrix equations, a better estimate of voltages is obtained. These new values of voltages are used to find new values of currents. The iteration is continued until the required tolerance on power flows is obtained. This is diagrammatically illustrated in Fig. 2.1. Starting from an initial estimate of, the final value of x* is obtained through a number of iterations. The basic flow chart of the iteration process is shown in Fig. 2.2 Fig2.1 Illustration of numerical iterative process for final value of a function Fig. 2.2 Flow chart of basic iterative process of Jacobi-type iterations 2.2.2 Gauss Iterative Technique Consider that n linear equations in n unknowns () are given. The a coefficients and b dependent variables are known: à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. These equations can be written as à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. (2.1) An initial value for each of the independent variables is assumed. Let these values be denoted by The initial values are estimated as à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. These are substituted into Eq. (2.1), giving à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. These new values of are substituted into the next iteration. In general, at the k-th iteration: à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. 2.2.3 Gauss-Seidel Y-Matrix Method In load flow calculations the system equations can be written in terms of current, voltage, or power at the k-th node. We know that the matrix equation in terms of unknown voltages, using the bus admittance matrix for n+ 1 node, is Although the currents entering the nodes from generators and loads are not known, these can be written in terms of P, Q, and V: The convention of the current and power flow is important. Currents entering the nodes are considered positive, and thus the power into the node is also positive. A load draws power out of the node and thus the active power and inductive vars are entered as:-p j (-Q) =-p + j Q. The current is then (-P + j Q)/. The nodal equal of current at the k-th node becomes: In general, for the k-th node: (2.2) The k-th bus voltage at r + 1 iteration can be written as (2.3) The voltage at the k-th node has been written in terms of itself and the other voltages. The first equation involving the swing bus is omitted, as the voltage at the swing bus is already specified in magnitude and phase angle. The Gauss-Seidel procedure can be summarized for PQ buses in the following steps: 1: Initial phasor values of load voltages are assumed, the swing bus voltage is known, and the controlled bus voltage at generator buses can be specified. Though an initial estimate of the phasor angles of the voltages will accelerate the final solution, it is not necessary and the iterations can be started with zero degree phase angles or the same phase angle as the swing bus. A flat voltage start assumes 1 + j0 voltages at all buses, except the voltage at the swing bus, which is fixed. 2: Based on the initial voltages, the voltage at a bus in the first iteration is calculated using Eq. (2.2) 3: The estimate of the voltage at bus 2 is refined by repeatedly finding new values of by substituting the value of into the right-hand side of the equation. 4: The voltages at bus 3 are calculated using the latest value of found in step 3 and similarly for other buses in the system. This completes one iteration. The iteration process is repeated for the entire network till the specified convergence is obtained. A generator bus is treated differently; the voltage to be controlled at the bus is specified and the generator voltage regulator varies the reactive power output of the generator within its reactive power capability limits to regulate the bus voltage: where stands for the imaginary part of the equation. The revised value of is found by substituting the most updated value of voltages: For a PV bus the upper and lower limits of var generation to hold the bus voltage constant are also given. The calculated reactive power is checked for the specified limits: If the calculated reactive power falls within the specified limits, the new value of voltage is calculated using the specified voltage magnitude and. This new value of voltage is made equal to the specified voltage to calculate the new phase angle. If the calculated reactive power is outside the specified limits, then, This means that the specified limits are not exceeded and beyond the reactive power bounds, the PV bus is treated like a PQ bus. A flow chart is shown in Fig. 2.3 2.3 Newton-Rapson Method Newton-Raphson method is an iterative method which approximates the set of non-linear simultaneous equations to a set of linear equations using Taylors series expansion and the terms are restricted to first order approximation. 2.3.1 Simultaneous Equations The Taylor series is applied to n nonlinear equations in n unknowns, à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. As a first approximation, the unknowns represented by the initial values can be substituted into the above equations, where are the first estimates of n unknowns. On transposing Where is abbreviated as The original nonlinear equations have been reduced to linear equations in The subsequent approximations are à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ Or in matrix form: The matrix of partial derivatives is called a Jacobian matrix. This result is written as This means that determination of unknowns requires inversion of the Jacobian 2.3.2 Rectangular Form of Newton-Rapson Method of Load Flow The power flow equation at a PQ node is Voltage can be written as: Thus, the power is ] ] Equating the real and imaginary parts, the active and reactive power at a PQ node is: where and are functions of and . Starting from the initial values, new values are found which differ from the initial values by and (First iteration) (First iteration) For a PV node (generator bus) voltage and power are specified. The reactive power equation is replaced by a voltage equation: 2.3.3 Polar Form of Jacobian Matrix The voltage equation can be written in polar form: Thus the power is Equating real and imaginary terms: The Jacobian in polar form for the same four-bus system is The slack bus has no equation, because the active and reactive power at this bus is unspecified and the voltage is specified. At PV bus 4, the reactive power is unspecified and there is no corresponding equation for this bus in terms of the variable. The partial derivatives can be calculated as follows: 2.3.4 Calculation Procedure of Newton-Raphson Method The procedure is summarized in the following steps, and flow charts are shown in Figs 2.4 and 2.5 à ¢- Bus admittance matrix is formed. à ¢- Initial values of voltages and phase angles are assumed for the load (PQ) buses. Phase angles are assumed for PV buses. Normally, the bus voltages are set equal to the slack bus voltage, and phase angles are assumed equal to 0ËÅ ¡, i.e., a flat start. à ¢- Active and reactive powers, P and Q, are calculated for each load bus à ¢- P and Q can, therefore, be calculated on the basis of the given power at the buses à ¢- For PV buses, the exact reactive power are not specified, but its limits are known. If the calculated value of the reactive power is within limits, only P is calculated. If the calculated value of reactive power is beyond the specified limits, then an appropriate limit is imposed and Q is also calculated by subtracting the calculated value of the reactive power from the maximum specified limit. The bus under consideration is now treated as a PQ (load) bus. à ¢- The elements of the Jacobian matrix are calculated à ¢- This gives and à ¢- Using the new values ofand, the new values of voltages and phase angles are calculated. à ¢- The next iteration is started with these new values of voltage magnitudes and phase angles. à ¢- The procedure is continued until the required tolerance is achieved. This is generally 0.1kW and 0.1 kvar. Fig 2.4 Flow chart for NR method of load flow for PQ buses. Fig.2.5Flow chart for NR method of load flow for PV buses 2.3.5 Impact Loads and Motor Starting Load flow presents a frozen picture of the distribution system at a given instant, depending on the load demand. While no idea of the transients in the system for a sudden change in load application or rejection or loss of a generator or tie-line can be obtained, a steady-state picture is presented for the specified loading conditions. Each of these transient events can be simulated as the initial starting condition, and the load flow study rerun as for the steady-state case. Suppose a generator is suddenly tripped. Assuming that the system is stable after this occurrence, we can calculate the redistribution of loads and bus voltages by running the load flow calculations afresh, with generator 4 omitted. Similarly, the effect of an outage of a tie-line, transformer, or other system component can be studied. Table 2-2 Representation of Load Models in Load Flow 3. Conclusion Load flow is a solution of the steady-state operating conditions of a power system. It presents a frozen picture of a scenario with a given set of conditions and constraints. This can be a limitation, as the power systems operations are dynamic. In an industrial distribution system the load demand for a specific process can be predicted fairly accurately and a few load flow calculations will adequately describe the system. For bulk power supply, the load demand from hour to hour is uncertain, and winter and summer load flow situations, though typical, are not adequate. A moving picture scenario could be created from static snapshots, but it is rarely adequate in large systems having thousands of controls and constraints. Thus, the spectrum of load flow (power flow) embraces a large area of calculations, from calculating the voltage profiles and power flows in small systems to problems of on-line energy management and optimization strategies in interconnected large power systems. By the load flow studies which performed using digital computer simulations. I have a main idea of how a power networks power flow calculation operation, planning, running, and development of control strategies. Applied to large systems for optimization, security, and stability, the algorithms become complex and involved. While the study I have done above just a small part of the research and I think the treatment of load flow, and finally optimal power flow, will unfold in my following study.

Comparing Early American Colonies Essay -- American History

The beginning of the Americas America was a place for dreams, a new beginning, religious freedom and rights. For the people of Europe the Americas was a place to prosper, worship in there own way, and expand there kingdoms. The only problem is that they attempted to settle in their own way and all failed dismally. The New England, Mid-Atlantic and Southern Colonies grew differently in various ways, but each with the same state of mind, â€Å"do it our way†. Examining the three sets of colonies will prove that they were all different in religion, government, and ways of expansion. New England was started for the search of religious freedom from persecution. England’s government required a strict attendance to the Anglican church. If a person were to refuse, holding separate services, they could be imprisoned and or fined! If the people didn’t take oath of supremacy to the king, they could be jailed for life. Since Charles I was head of the Anglican church what he said went; Charles removed all puritans ministers from his their pulpits. The puritans got fed up with all this persecution and as there ministers left to the new world they followed. One of the New England colonies was Rhode Island. After Roger Williams, a minister, challenged the Massachusetts policy time after time he was eventually banned from this land. In 1636 he purchased land in Narragansett bay and establishes providences. He created this society based on religious tolerance, separating state from church. After four more settlements were established Roger went to England, they got a charter, and established Rhode Island. His government was based on the principle of freedom of worship. Connecticut u can say was an unexpected colony. It started off just as a tra... ... 100 acres of land to each adventurer. He also distributed 50 acres to each person who paid his or her own way and 50 acres more for each additional person they brought along. This was known as the Virginia â€Å"headright† system. They decide to start growing tobacco a huge cash crop, but cant because the lake of labors. The Indians which seemed to have quieted down rows up and massacres huge number people, thus ending the company and the charter being revoked. There are clearly many similarities and differences in overall religious, economical, and governmental origins in American colonies. Many colonies were founded for exclusive religious freedom However, many came to be motivated in by economy and profit. Also, the American colonies evolved from non-representative and elitist governments into a more democratic system, which is closer to the pure democracy of today.

Prejudice and Racism at Our School :: Sociology Racism Prejudice Essays

Prejudice and Racism at Our School Racism...the belief that a particular race is superior to others; discrimination or prejudice based on race. Racism has been around for a long time and its effects have been seen a lot in the past few centuries: during the 1800s and earlier - in slavery, the Civil War, and slaves being freed; and then recently, during the 1900s - in the Civil Rights Movement. Everyone in the United States is supposed to have equal rights and not be discriminated against because of race, but sadly, that is not always what happens. Racism shouldn’t be around anymore, but it is, even in WCCHS. Sometimes it’s in the form of racist comments or racial slurs, and other times it’s in the form of "who hangs out with whom." Something needs to be done about this. I think that if there were more integration in school-related activities, then students of different races would learn to accept each other the way they are, and racism wouldn’t be an issue at WCCHS. As was stated, even though there shouldn’t be racism at WCCHS, there is. Although once in a while teachers might be involved if someone says something racist against them, most of the racism is between students. Although I don’t really see a whole lot of it and what I do see isn’t major, it is still there. Generally, Hispanics and non-Hispanics get along okay at WCCHS; a lot of the racism expressed in these two groups is just little things, such as racial slurs or mean comments about someone just because they are or aren’t Hispanic. To get a broader view on racism at WCCHS and why it occurs, I interviewed Karen Miller, a freshman of Polish and German descent; Gabe Antonio, a freshman of Mexican descent who knows both English and Spanish; and Mr. Sayner, a World Geography/Global Studies teacher of western European descent. Karen, Gabe, and Mr. Sayner all agreed on their definitions of racism. Gabe said that racism means â€Å"people saying bad stuff about other races and cultures,† Karen said that it means that someone doesn’t like another person just because of their race - they are prejudiced, and Mr. Sayner said it means â€Å"people judging someone else based on physical characteristics like skin color.† In all three definitions you see that people are basing their opinions of others on outward characteristics rather than finding out for themselves what they are like.

Ambition in Macbeth by William Shakespeare Essay

What is ambition? Ambition is described as eager for success, power or fame. For Macbeth. Ambition was what drove him to become great, it forced him to change his nature towards evil. At the beginning of the play, Macbeth was portrayed as a courageous soldier who fought for his King without mercy. But once the witches planted the seeds of greater things and Lady Macbeth fuelled his ambition, which lead him to become greedy and power hungry. Macbeth was led down to an unescapable road of doom by an outside force, namely fate in the form of the three witches. There was no supernatural force working against Macbeth, which therefore makes him responsible for his own actions and inevitable downfall. Macbeth is indeed responsible for his own actions, which are provoked by an unwillingness to listen to his own conscience, the witches, and his ambition. The witches tempted Macbeth with their prophecies, which made Macbeth ¡Ã‚ ¦s heart and mind slowly filled with ambition and his huger for power. The witches predicted, at the beginning of the play, that Macbeth would soon become the Thane of Cawdor and eventually the outright King. They tell Macbeth this, simply to ignite what would finally end up in him taking the life of King Duncan. Ambition, no matter how small, builds up, and becomes a need. When this ambition is built up and encouraged, it can influence a person’s decision. Macbeth went to three witches, who prophesized that he would become King. This got Macbeth thinking of how he can become King. At this time, he was still unsure of whether he would take any action toward gaining the crown. When he comes back to his house, Lady Macbeth convinces him to murder King Duncan, through emotionally degrading him, shown in the quote: â€Å"Art thou afeard/ To be the same in thine own act and valour/ As thou art in desire?† (Act I, Scene IV). This quote shows how Lady Macbeth influenced Macbeth’s decision, because after hearing about the prophecy, she also had the ambition for her husband to become King. Macbeth slowly becomes accustomed to killing and does it more easily and without remorse. For example, after Macbeth becomes king, he begins to worry about the second part of the prophecy, when Banquo’s sons become kings. Knowing that he will not have any heirs, Macbeth dreads the idea of â€Å"the  seeds of Banquo kings. Rather than so, come fate into the list, and champion me to the utterance†¦Ã¢â‚¬  (3.1.70-73). Since he committed a sinful act to fulfill his desire become king, Macbeth does not want to lose everything he got to Banquo’s royal bloodline This shows how corrupt and villainous Macbeth has become; he will not let anything, not even friendship, get in the way of his desire to be the King of Scotland. And if the destruction of friendship is not a symbol of how strong Macbeth’s ambition truly is, then the manslaughter of an innocent man’s entire family is. When Macbeth sees the three apparitions, one of them tells him to beware Macduff . Surprisingly, after Macbeth learns that Macduff has fled to England, he responds by declaring that he will â€Å"give to the edge o’ the sword his wife, babes, and all unfortunate souls that trace him in his line.† (4.1.151-153). This shows how corrupt and evil Macbeth has become; he doesn’t even care about who he’s killing anymore. A wife and kids symbolizes purity and love in a man’s life; the fact that Macbeth doesn’t even consider the moral consequences of destroying a loving family and killing children shows how filled with ambition he has become. Macbeth is so afraid of losing to Macduff that he believes that by killing his family, Macduff will be broken beyond repair and not be able to face Macbeth. Unfortunately, he does not count on a certain someone to heighten Macduff’s hopes to slaying Macbeth by using his sorrow to his advantage. That certain someone is Malcolm, the son of Duncan. After the murder of his father, Malcolm’s ambition to destroy Macbeth becomes so strong that he forgets all moral values and disregards the feelings of others; this ambition represents revenge. Though Malcolm is able to understand the feelings of others, he lets nothing stop him from achieving his goal; this is either due to his inexperience of the world, or because he is too bent on revenge to think about anything else. When Macduff learns that his family is murdered, he begins to despair. Malcolm, not wanting to let anything get in the way of his ambition, tells Macduff to â€Å"dispute it like a man.† (4.3.221). Since Malcolm is a young man; he does not have a wife or kids and disregards Macduff’s pain as a sign of weakness. Note that even if Malcolm had a family and understood Macduff’s pain fully, he would still have been reckless and put revenge above anything else. Malcolm’s  father was a good man who lost his life at the hands of the man h e trusted the most; Malcolm is not going to let Macduff’s personal tragedy get in the way of his goal of destroying Macbeth. When Macduff responds by saying that first he must feel pain like a man, Malcolm responds by telling Macbeth to make his grief â€Å"be this the whetstone of your sword. Let grief convert to anger; blunt not the heart, enrage it.† (4.3.230- 231). While Malcolm is more understanding of the pain Macduff feels, he still convinces him to move on. When he says â€Å"let grief convert to anger†, he means for Macduff to use his sorrow as his anger so he can move on with his life and destroy the man responsible for his sorrow: Macbeth. Malcolm truly does feel bad about Macduff losing his family, but unlike Macduff, he has no family to worry about and has not experienced every pain and sorrow Macduff has been through. Given this evidence, it is evident how much ambition Malcolm has for destroying Macbeth. Macbeth is not fully to blame for his ambition clouding his judgment since the audience knows that Lady Macbeth has him kill Duncan so she can be Queen; this ambition represents power. While Macbeth is to blame for all he has done to his country, his wife started a chain reaction that sent Macbeth down this dark path. Had Macbeth not told his wife about the prophecies, she would not have become so obsessed with power and she would not have sent her husband to kill Duncan so she could be Queen faster†¦and all of Macbeth’s victims would be alive and well. Lady Macbeth wants so desperately to gain power, she begs of the immortals to â€Å"unsex me here and fill me from the crown to the toe top-full of direst cruelty!† (1.5.41-43). Lady Macbeth is asking the spirits (or gods†¦I’m not quite sure; it’s pretty vague) to make her cruel and unforgiving so she can do the terrible deed of killing Duncan. This shows how evil and impatient Lady Macbeth is; ha d she waited for Duncan to promote Macbeth, she could have been Queen without her husband having to kill anyone, Macbeth would still have been a good person, and they would not have had to suffer so much guilt for all they did. Later, after Lady Macbeth drugs the guards, she boasts about the drugs â€Å"that which hath made them drunk Sprouse  hath made me bold; what hath quenched them hath given me fire.† Now Lady  Macbeth is almost certain that they will not fail; her ambition has clouded her better judgment and ignored the possibility of guilt haunting her and her husband. This ambition, the ambition of power, is by far the most deadly of all ambitions. If you want power so badly and very quickly, you forget about all the consequences that might come from it. In Lady Macbeth’s case, her consequence for her actions was the loss of her sanity and restless nights thinking about what she made her husband do, eventually causing her to take her own life. This being said, I think it is safe to say that too much ambition is NOT a promise of power or a sign of greatness.

Consider the business model Essay

The easiest way to start a design is to consider the business model that you sat down with when starting these designs. You now need to recreate that structure in Active Directory using Organizational Units as the building blocks. Create a complete Organizational Unit structure that exactly mirrors your business model as represented by that domain. In other words, if the domain you are designing is the Finance domain, implement the finance organizational structure within the Finance domain. You don’t create the entire organization’s business model within each Organizational Unit; you create only the part of the model that would actually apply to that Organizational Unit. Draw this structure out on a piece of paper. Figure 8-3 shows the Organizational Unit structure of mycorp.com’s domain. We’ve expanded only the Finance Organizational Unit here for the example. Figure 8-3. The Mycorp domain’s internal Organizational Unit structure Once you have drawn an Organizational Unit structure as a template for your Active Directory hierarchy within the domain, you can begin to tailor it to your specific requirements. The easiest way to tailor the initial Organizational Unit design is to consider the hierarchy that you wish to create for your delegation of administration. Two Tier Hierarchies A two tier hierarchy is a design that meets most company’s needs. In some ways it is a compromise between the one and Three Tier hierarchies. In this design there is a Root CA that is offline, and a subordinate issuing CA that is online. The level of security is increased because the Root CA and Issuing CA roles are separated. But more importantly the Root CA is offline, and so the private key of the Root CA is better protected from compromise. It also increases scalability and flexibility. This is due to the fact that there can be multiple Issuing CA’s that are subordinate to the Root CA. This allows you to have CA’s in different geographical location, as well as with different security levels. Manageability is slightly increased since the  Root CA has to be brought online to sign CRL’s. Cost is increased marginally. Marginally speaking, because all you need is a hard drive and Windows OS license to implement an Offline Root. Install the hard drive, install your OS, build your PKI hierarchy, and then remove the hard drive and store it in a safe. The hard drive can be attached to existing hardware when CRLs need to be re-signed. A virtual machine could be used as the Root CA, although you would still want to store it on a separate hard drive that can be stored in a safe. Three Tier Hierarchies Specifically the difference between a Two Tier Hierarchy is that second tier is placed between the Root CA and the issuing CA. The placement of this CA can be for a couple different reasons. The first reason would be to use the second tier CA as a Policy CA. In other words the Policy CA is configured to issue certificates to the Issuing CA that is restricted in what type of certificates it issues. The Policy CA can also just be used as an administrative boundary. In other words, you only issue certain certificates from subordinates of the Policy CA, and perform a certain level of verification before issuing certificates, but the policy is only enforced from an administrative not technical perspective. The other reason to have the second tier added is so that if you need to revoke a number of CAs due to a key compromise, you can perform it at the Second Tier level, leaving other â€Å"branches from the root† available. It should be noted that Second Tier CAs in this hierarchy can, like the Root, be kept offline. Following the paradigm, security increases with the addition of a Tier, and flexibility and scalability increase due to the increased design options. On the other hand, manageability increases as there are a larger number of CAs in the hierarchy to manage. And, of course, cost goes up.

Women and High Heels

Speaker: Date: Speech Topic: high heel shoes, what effect do they have on women? Specific Purpose: To inform women that even though we love our heels they can be hazardous if not worn in moderation. Introduction I. Women will wear their heels high, no matter the cost. If our wallets don’t suffer, our feet surely will. II. When a woman puts on a pair of heels, she feels sexy and powerful. She knows the men are watching her, and she is the center of attention (even if it’s all in her mind) She will spend her last dime on a beautiful pair of shoes, but did you know that over time those high heels can cause major damage to your feet?What’s so special about high heels, that women would spend their last dime and risk being in pain? I. The advantage of wearing high heels. A. When a woman puts on a pair of heels, she suddenly feels sexy, and confident. Have you ever noticed when you see a lady in a pair of these shoes she walks a little different? B. Her butt lifts a lit tle higher C. Her legs appear to be longer D. Her body appears to be leaner When a woman has nice shoes, not only does she get compliments from men, but other women will come to her and say â€Å"I love your shoes!Where did you get those â€Å" She may reply back â€Å"these old things? She loves the attention but she will never tell where she got them. II. The Price: According to a survey done with 3000 women by ONEPOLL the average woman will spend over 26,000 on shoes in her lifetime. A. 29 percent of ladies say shoes are the one thing they can’t resist buying, regardless of whether they can afford them. B. Not only do women wear shoes to turn heads of men, but we also buy them to be the center of attention around other women C.You can tell a lot about a woman based off her heels, it can be a sign of â€Å"status. † She may feel expensive by sporting a high priced pair of heels. III. The price we pay with our feet: High heel shoes can have a number of detrimental effects on the feet, some that could result in the need for surgery or lifelong pain A. Bunions B. Corns C. Hammer toe: D. Morton's neuroma E. Pump bump There is nothing wrong with wearing your favorite heels but it should be done in moderation. If you are going to happy hour, please don’t wear your heels to class, work and then happy hour.The effect over years can be very damaging to your body. Conclusion I. Review: a woman in a pair of heels can feel like she is the center of attention. She is sexy and confident; her body looks great and she feels like a diva entering a room. She does not mind paying a high price for her favorite pair of heels, even if they hurt her feet after a few hours. The average woman may spend more than 26 thousand dollars in her life time on shoes alone, but if she is not careful she may be paying to have surgery on her feet as well. II.Closing: There are some safety tips for wearing high heels to keep any damage they may cause to a minimum: Bibliog raphy Innes, Wendy. â€Å"The Effects of Wearing High Heels on the Body. †Ã‚  Symptomfind. com. N. p. , May-June 2012. Web. 27 Feb. 2013 . ;http://www. symptomfind. com/health/effects-of-wearing-high-heels/& gt;. Kelly, Caitlin. â€Å"Women Really Are Shoe-Aholics, Study Shows a And The Problem Is? â€Å"Broadside RSS. N. p. , n. d. Web. 27 Feb. 2013. http://trueslant. com/caitlinkelly/2010/07/23/women-really-are-shoe-aholics-study-shows-and-the-problem-is/