An Analysis Of Microfinance And Poverty Economics Essay

An Analysis Of Microfinance And Poverty Economics Essay This is not charity. This is business: business with a social objective, which is to help people get out of poverty Dr Muhammad Yunus (www.environmentalquoteshomepage.com) Jonathan Morduch, Chairman of UN Expert Group on Poverty Statistics quoted that Microfinance stands as one of the most promising and cost-effective tools in the fight against global poverty. Economic growth of the economically, socially and geographically disadvantaged segments of the population of any country requires access to financial services. The disparity between the rich and the poor continues to grow wider and therefore microfinance institutions were introduced to help the less unfortunate people who did not have enough money for survival. It is usually in the narrow sense called micro because the microfinance companies deal with small amounts of loans for e.g. small savings and small loans. These loans are given to unsalaried borrowers, taking very little or no collateral at all. In a broader sense, microfinance refers to a movement where there is an easy access to financial services for the low income clients to build assets, stabilize consumption and protection against fu ture risks. Microfinance clients are usually people who fall under the poverty line and do not have any access to any financial institution for them to borrow from. The poor people usually save in the informal ways for e.g. They invest their assets in gold, domestic animals, land etc however informal saving has serious limitations. The poor are more likely to lose out on money through mismanagement or fraud. Banks do not entertain the poor people because they do not have collateral or enough money to open a savings account therefore it is not feasible for a poor person to access the banks. There are several microfinance institutions in the world mainly in the developing countries. The leading countries are Bangladesh, India, Colombia, Mexico, and Morocco. Micro financing has it roots from the 1870s in Ireland nevertheless today the history of microfinancing hails from the Grameen Bank in Bangladesh. Professor Mohammed Yunus along with his graduate students of Chittagong University designed an experimental credit programme to serve the poor facing banking problems. Through the help of rural banks they were able to disburse and recover loans. Although this project was a huge success the banks refused to take over it considering it to be too risky and expensive. Ultimately through support of benefactors, the Grameen Bank (Grameen meaning rural or village) was founded in 1983 and now provides loans to more than 4 million borrowers. They underlying objectives of the Grameen Bank was to eliminate the exploitation by landlords, perk up the standard of living particularly for women and to reverse the old age vicious cycle of low income meant low savings resulting in low investment. They wanted to inject credit into the cycle thereby increasing the investment size. Microfinance was not considered to hand out rather they introduced improved repayment rates. They focused on the ceiling in the interest rate and credit subsidies that retarded the expansion of the financial services. The poor people were shown that the repayment rates were better than the formal financial services were offering to them. The two features which helped Microfinance institutions to attain sustainability and reach large numbers of clients were the high repayment and the cost-recovery interest rates. Additionally to a bank account, there are other financial services like insurance, credit savings and other payment facilities. Financial inclusion represents the easy access of financial services to the poor and low-income groups. One of the crucial functions of the financial system is to allocate the resources effectively for increase in production, increasing opportunities and reducing poverty. (microfinance). Over 40 % of the Indian population has income earning but no savings since they are excluded from the financial system. It has been almost 25 years since the birth of microfinance since its introduction by the Grameen bank. The UN Year of Microcredit in 2005 showed a turning point for Microfinance as the private sector began to take a more stern attention to what has been well thought-out as the field of NGOs. Even with all this enthusiasm about poverty alleviation and contribution of financial services the Consultative Group to Assist the Poorest (CGAP) estimates that about only 5% reaches the poor clients (repository). India is a home growing and innovative sector to microfinance. India is likely to make microfinance its abode as it has a huge population of the worlds poor. One of the largest microfinance institutions is Self Employed Womens Association (SEWA) in India. It is the largest organization based in Asia to members who are poor, self-employed women workers earning less than US$1 per day. SEWA corresponds to a union of three movements the labor movement, cooperative movement and the womens movement SEWA builds the capacity of poor illiterate women to manage their own micro-enterprises. The staff is recruited and promoted from its own member groups, thus it has been able to develop managers who although illiterate, become professionals through practical experience. SEWAs combined approach to poverty alleviation comprises: (a) organizing for collective strength; (b) capital formation through access to financial services; (c) capacity building and (d) social security; to enhance womens productivity and to ensure that sudden crises are not a drain on their fragile economies. In 1972, SEWA was registered as a trade union that began in Gujarat in India. Though it started in the urban region of Ahmadabad yet their main focus group was the organization of poor yet self- employed women workers especially in the rural part of the region. SEWA has also spread its branches out in the national and international level. These women are the ones who earn their daily income through various small scale businesses or by working in agricultural lands and making handmade materials including hawkers, home-based workers and manual laborers. They do not acquire any regular salary like the people employed in the urban organized sector. They are the unprotected labour force of our country. Comprising of 93% of the labour force, women constitute about 94% from the unorganized sector. (www.sewa.org). This microfinance institution is registered under the Trade Unions Act of 1926 and is open for membership to all women all over India. In order to start organizing the finances, th e organization has introduced a membership fee of Rs 5 annually. An election is held for the representation of the organization. The union consists of a two tier level representation elected by the members. One representative member governs 100 members under ones group.  The union is governed by a two-tier level of elected representation. With globalization, liberalization and other economic changes, there are both new opportunities as well as threats to some traditional areas of employment. SEWAs first main goal is full employment ensuring work security, income security, and food security. The second is social security and self-reliance. At SEWA the main objective is meant to attain full employment and self reliance through the policy of hard work and growth. By full employment means employment whereby workers obtain security in matters of basic amenities such as work and social needs including food, health, shelter etc. There is a need for great effort against many obstacles, limitations and restrictions faced by them or enforced on them by society and the economy, These development activities done by microfinance institutions reinforce womens bargaining power and offer them new options. SEWA is not only an organization but also a movement that took place to bring up the downtrodden and the poor. In India, this larg ely self-employed segment forms roughly 90% of the whole economy. A collection of women consequently founded the SEWA bank as a co-operative to empower deprived self-employed women by making available for them financial services and access to credit to lessen their reliance on manipulative money-lenders (www.gdrc.com). About one billion people globally live in households below the poverty line earning about less than a dollar a day. Policy makers and NGOs who want to change the poor peoples lives face an uphill battle every day. There have been reports where major organizations like World Development Bank and other associations have extended a helping hand by granting the developing countries with financial aid however due to the bureaucratic behavior and corruption this aid has not reached the low level of the income strata. The grants given by the governments make matters worse by increasing the dependency of the poor and acts as a disincentive to the poor as they choose not to move ahead and develop. The microfinance institutions around the world continue to help the downtrodden by increasing their capacity to invest and improve their living standards. As James Wolfensohn, the president of the World Bank has been quick to point out that helping 100 million households means that as many as 500-60 0 million poor people could benefit. (Jstor) .Poverty alleviation is one of the most sought out strategies that every country encloses in its priority list however since decades this has failed due to loans not being repaid, cost of subsidies increasing tremendously and credit reaching the politically powerful rather than the underserved. The purpose of Microfinance institutions in India is to extend financial help to its client and to maintain financial sustainability. The microfinance chooses the groups for their financial transactions. These groups may be Self-Help groups. The group takes responsibility for the financial borrowings taken by the members. Even though a few institutions may require capital, the loan repayment method has become quite popular amongst microfinance organizations. Although these high repayment rates may seldom translate into profits. The institutions try and involve the governments as well and keep an eye on the incentives that chase off efficiency in peoples performance. Microfinance depends on pouring of finances from donors however the donors are against the continuous dependence on subsidies. The donors believe that subsidies should only be provided at the start of a project to cover up starting costs. (Murdoch) Self employed women workers and are quite active in the economic sense and therefore add to the expansion of the economy. They are primarily engaged in production, trade and the service sector as a whole. However, in spite of their uphill struggle and their input to the countrys overall gross domestic product, they have are not provided with any financial services, which could help them upgrade in their own labor and output. (www.sewa.org) These self-employed women cope with two major financial problems: shortage of working capital, and Non-ownership of assets. The banking sector was not responsive to the needs of these self- employed women and the money lenders were very exploitive in nature. Thus, sequentially to tackle this problem and liberate themselves from the cruel phase of eternal debt, the SEWA members came together with their own solution, in a meeting in December 1973: a bank of their own, where they could be privileged enough to be accepted and not to be made feel inferi or by the exploitative money lenders and indeed 4,000 women contributed share capital of Rs.10/- each towards the creation of the  Mahila SEWA Co-operative Bank (www.sewabank.org). In the year 1974 in May, the SEWA Bank was registered as a co-operative bank under the dual control of The Reserve Bank of India and The State Government. Since then it has been providing banking services to poor, illiterate self-employed women and has become a viable financial venture. (www.sewabank.org) SEWA started its own bank to provide women with access to microloans. Swashrayi Mahila Sewa Sahakari Bank is SEWA members largest cooperative, unheard of in India. The bank is in possession of the self-employed women as share holders; policies are devised by their own particular Board of elected women workers. The Bank is managed professionally by qualified managers liable to the Board. In 1974, SEWA Bank was established with 4000 members each contributing shares capital of Rs .10 each. Currently there are 93,000 active depositors. SEWA Bank in the year 1999, celebrated 25 years of granting financial services to the poor, self-employed women. Constantly in debt, our members initially brought up the matter of their need for credit so as to free themselves from the control of money-lenders and traders, to augment their businesses, build up assets in their own name, for childrens education, for the several crises including illness that they might occur and for many other purposes. (www. sewa.org). SEWA has been successfully lending money to women for various needs such as running a household or for their childrens education or weddings etc. Since women are achieving the two goals of the SEWA association they are ought to receive the support services such as health care, child care, insurance claim, legal help, communication services and capacity building. These services could be used for self-employment. Also women are ready to pay for these services which made the services financially viable. They dont have to depend on grants and subsidies for the use of these services. Some supportive services such as child and health care including savings and credit have formed their own co-operatives and have also gained operational self- sufficiency. Access to finance is a major problem for economically deprived women and in particular for poor self-employed women in countries that are developing such as hawkers, street vendors, home-makers, manual laborers and service contributors. As they do not save, disasters and compulsions time and again compel women to scrounge heavily. However, they do not posses the necessary experience and confidence to acquire credit from a financial institution in the recognized sector and the formal sector does not lend to the self employed women easily, therefore, one depends heavily on informal money-lenders, who charge exorbitant interest rates: This is usually the start of a negative skew of increasing indebtedness. SEWA Bank as a cooperative bank with the precise aim to provide credit to self-employed women with the vision to empower them and reduce their dependency on loan sharks. Initially, the SEWA Bank focused on drawing deposits from self-employed women and supplied it as an intermediary to facilitate depositors to procure loans from nationalized banks which are obliged to lend to the poor. In 1976, the SEWA Bank began to offer loans to its depositors from its own funds and steadily withdrew from the credit agreement with th e nationalized banks. The bank employs a woman who saves as a organizer between other women to encourage them to save in the bank as well. The organizer usually visits the women easy accessibility to the depositing of the savings by them. If a loan is required by a woman requires a loan, a member has to accompany her in order for that loan to be sanctioned. The bank scrutinizes the application process, carefully reviewing the applicants ability to generate income, standard of living, soundness of working conditions and capability to repay. Majority of the loans are unsecured; the process of approval takes about one week. If collateral is offered then the approval day is shortened and the loan could be granted the same day. Once the loan has been approved, the borrower is obligated to buy 5 % of the loan amount in bank shares and to open a savings account if she does not have one yet. Women are encouraged to register their savings account and their assets (such as working tools, house or land) in their own name (www. Gdrc.org). SEWA bank has also introduced various other schemes such as Crisis Mitigation Scheme, House Financing Scheme, Women Farmers Credit Scheme, and Sunrise Scheme for developing women businesses. Self-employed women need loans for an ample range of reasons; to obtain assets, raw materials, finished goods for resale, and trade-in old debts, improve their homes, buy transportation means or install amenities in their house, for instance electric and water connections. The bank gives long- term loans, i.e. 3-5 years, of no more than Rs. 50,000 which is an unsecured loan at the rate of 14.5%- 17% and the method used for this lending is the Diminishing Balance Method (This method is also applies a fixed percentage but it applies to the diminishing value of the asset and not to the initial value of the asset) (www .howto.co.uk). Each loan is sanctioned with a pre check of the house visit by a SEWA bank field worker. SEWA Bank has been supplying a wide variety of loan products to meet the product ive credit requirement of its clients. SEWA Bank necessitate a woman save regularly for at least one year, before she is eligible to apply for a loan. If there is an absence of traditional collateral, like jewellery or domestic animals a regular savings habit is considered a necessary form of security, in SEWA Banks experience of banking with the poor for over 25 years. SEWA Bank lays great emphasis on savings. All the self-employed women required a safe place to save their earnings and building up a credit loan from member savings was a very cost-effective method. SEWA bank introduced Indias first Micro-Pension Scheme. In April of 2006, SEWA members were approved to bond with a SEBI approved pension plan that presents no assured returns but permits up to 40 % collection to be invested in the Indian stock market. A number of countries were providing general insurance in India. Life insurance was nationalized and the Life Insurance Corporation of India (LIC) became the only authorize d insurance life insurer. In 1992 SEWA started an integrated insurance programme for its members. It was started with the objective of providing a support to poor women in times of calamities. It is a collaborative effort of SEWA, SEWA Bank and the nationalized insurance companies. Currently, SEWA has its own insurance unit called VimoSEWA which insures women for life, health, assets, widowhood and accidents in Gujarat. Starting with 7,000 members, it has now reached more than 70,000 women in 11 districts of Gujarat state. The total number of insureds, women and men, is 90,000 (www.sewabank.org) Why do MFIs target women? Microfinance is a womens movement but there is a logic that MFIs tend to target women for the practical reason that they are willing to attend group meetings and to comply with savings and loan terms. They may also believe that women are more conscientious in using finance for the benefit of the family. Men, by comparison, prefer larger, individual transactions. Lending to women guarantees the microfinance that the money is well spent on education, health, housing, and nutrition, making sure that they maximum money is directed toward the benefit of the family and the community. Financial independence and security gains a woman respect in the society and she is looked up to by other people. Decisions to make own choices could help the family from the clutches of poverty and social exclusion. The SEWA Bank has broken the vicious circle of indebtedness and dependence on middlemen and traders, and this has increased the bargaining power of the women. Many of them have upgraded their skil ls, developed more business and increased their income. (www. The World Bank Global Learning Conference in Shanghai in 2004 confirmed the impact of microfinance: Studies have showed that microcredit programs positively affect a womans decision-making role, her marital stability, and her control over resources and mobility. The analysis establishes that a womans contributing to her households income is a significant factor towards her empowerment (tars) The world has failed to understand is that the poor are not victims of a system that failed or passive receivers of domestic and foreign aid. The poor have had the willpower and organization to take action to the problems that affect their lives. As long as affluent nations give out free donations and help to poor countries, the people themselves will never be empowered to break free from oppressive conditions of poverty. The poor, if given the opportunity for economic advancement, can and will prove to the world that they are capable and responsible citizens. There are five major criticisms of microfinance: it is does not reach the chronically poor of the population, it is not financially sustainable for institutions, it is potentially harmful to women (domestic abuse may result from husbands jealous of their wives new financial power), it can create a large debt for the poor, and it is not universal in application. Though these criticisms are valid, there is ample evidence to show that the benefits of microfinance outweigh the costs. There are various examples to show that microfinance can lead to an income increase, better opportunities for growth of the family as a whole, better education and employment. Microfinance also leads to empowerment of women especially in developing countries and alleviation of poverty. Microfinance could be the answer to secure success for the Millennium goals.

Pablo Picasso :: essays research papers

Pablo Diego Jose Santiago Francisco de Paula Juan Nepomuceno Crispin Cripiano de los Remedios Cipriano de Santisima Trinidad Ruiz Blasco y Picasso Lopez, or more commonly known as Pablo Picasso, the twenteith century's most famous artist. He created more than twenty thousand paintings. Of his most famous artworks are " Guernica", Les Demoiselles d' Avignon", and his many, many cubist style paintings that he created. At the age of twenty, he began to sign his paintings with just his mother's maiden name of Picasso. In the fall of 1901 he begins the Blue Period until he begins painting with more red colors in 1904 which is the start of the Rose Period. In the winter of 1908 he and Georges Braque become close friends and his work with analytical cubism turns into synthetic cubism. Picasso also began, as a section of cubism, to add bits of string and other materials to his work. By doing so, he was the inventor of the modern day collage. He also made his first important sale of art to Ambroise Vollard, who he also painted a portrait of in a cubism style. In 1906 he began to paint in the style of cubism that changed the entire form of modern art. He was merely 26 years old at the time. Pablo Picasso was born on the twenty-fifth of May, in October of 1881. He was born and raised in Malaga, Spain. He also had two sisters, Lola and Conchita. Conchita died when she was eight. His father was also an artist, and as Pablo grew up, he saw a prodigious amount of talent in Pablo. Not soon after, he began teaching Pablo all he knew about art and painting. At the age of ten, his family moved to northern Spain and he took an entrance examination for the Instituto de Guarda. He is one of the very few to have finished within 1 day, further proving his abilities. He studied at the Institute for 2 years before his family moved to Barcelona. There, he took classes at La Lonja and The Barcelona Academy of Art. After that he went to the Royal Academy in Madrid, but only finished one year of study there. As his life progressed he moved to Paris, France, where many of the most renowned artists, authors and sculptors lived. During his life Picasso held many mistresses. He married two of them and had four separate children

Michael Bloomberg

Michael Bloomberg, who at present enacts different roles such as entrepreneur, politician, and philanthropist, occupies an important position in the present American society. As the mayor of New York he has established his reputation as a shrewd politician.(Boyd 2006) As the founder of Bloomberg companies, he has exhibited his talent of building a great business enterprise though innovation and patience. As philanthropist, Bloomberg has donated huge amounts of money to the deserving people and institutions.These different qualities have enhanced, to a great extent, the prestige of Bloomberg as one of the great figures in the modern United States of America. In spite of the fact that Democrats dominate New York political scene, the Republican candidate Bloomberg was able to obtain reelection as the city’s mayor. This exhibits and proves the popularity of the man. Based on this popularity, one can expect that Bloomberg’s domination in the New York political scene would co ntinue for a few more years.After emerging as one of the important personalities of the USA, Bloomberg has showed his interest in charitable and philanthropic pursuits. Bloomberg showed interest in donating funds to the deserving educational institutions, and he donated millions of dollars to educational institutions in order to improve the financial condition of the educational institutions. Bloomberg’s father inspired Bloomberg to keep aside a particular potion of his income for charity purposes. Bloomberg states that: â€Å"†¦my family taught me private philanthropy when I was very young. Every year, my father received a publication listing contributors to his favorite charity.† (Bloomberg 2001, p. 240)   Bloomberg belonged to the American Jewish family, and he supported the Jewish establishments through charity.In the year 2003, Bloomberg gave away $136 million to nearly 650 groups. In the year 2004, Bloomberg contributed $139 million to nearly 840 groups. T hese details show that over the years, Bloomberg has not reduced his philanthropic interest. It is also important to note that he has distributed donation fund to different institutions. The donation recipient groups belonged to various categories such as: arts, museums, parks, ethnic minorities, children, medical research, schools, abortion rights, and gays. This detail shows that Bloomberg has been trying to help different sections of the population.Many of these groups had to face financial crisis due to the political policy of the New York administration headed by Bloomberg. In order to solve the problems of these different groups, Bloomberg has donated huge amount of money, from his personal financial reserves, to the deserving institutions. (Noon 2004)   Although one can argue that these donations helped Bloomberg to obtain reelection, one cannot question the sincerity of the man while assisting the people and institutions to overcome their financial problems.The charitable interest of the man indicate that he has been following the examples of other business magnates such as Bill Gates and others who have established philanthropic trusts. The newspapers have reported that Bloomberg can be considered as one the top philanthropist who has already donated millions of dollars to the various institutions. Bloomberg has taken special interest in developing educational institutions such as Johns Hopkins University.   (Noon 2004)Michael Bloomberg was born in the year 1942 in Medford, Massachusetts. His father was an accountant, and one can notice the influence of the father on Bloomberg’s interest as the latter showed interest in mathematics and study of technological advancements. He became the president of High School Slide rule club. While he acted as the president of this club, Bloomberg acquired the leadership qualities essential for him to emerge as a great entrepreneur in his later days. He went to Johns Hopkins University to study engineering . He was able to obtain his degree in engineering in the year 1964.Later, he went to Harvard Business School. In Harvard, he obtained the important lessons of becoming a great businessman, and it seems that he implemented most of these lessons when he established his own company a few years later. He obtained his MBA degree in the year 1966. These details indicate that his childhood experience and high quality of education which he obtained from Johns Hopkins University and Harvard Business School inspired him to achieve great things in his life and this eventually resulted in the emergence of the Bloomberg companies. After obtaining his MBA degree, he moved to New York to obtain gainful employment. (Pearson 2006)Bloomberg’s father was working in a dairy as an accountant, and he was working all the seven days per week. This shows that Bloomberg belonged to the family of middle class hard working parents. Obviously, Bloomberg might have contemplated concerning his future. The family value of hard work is found in Bloomberg, as it is due to his hard work that he was able to emerge as one of the great personalities of the USA. (Bloomberg 2001, p. 210) Bloomberg mentions in his autobiography that he enjoyed the company of his sister Majorie.His interaction with his sister also played an important role in determining the character of Bloomberg’s personality. Bloomberg mentions that: â€Å"Majorie, and I would sit across from each other, with my parents at the opposite ends of the table. My father described what he did at work that day†.(Bloomberg 2001,   p. 211) This statement shows that the family members regularly discussed personal and official issues. Since Bloomberg was the eldest son of his father, Bloomberg was inspired to imbibe the workaholic nature of his father. Concerning his father and sister, Bloomberg makes the statement that: â€Å"†¦my sister is focused and deliberate. My father was direct and to the point as well.† (Bloomberg 2001, p. 215)  Through his hard work Bloomberg was able to excel in his education and business, and eventually he was able to emerge as one of the richest persons in the world. In Johns Hopkins University and B School he obtained necessary education which was assisted him in establishing reputation as a shrewd businessman. Through his hard work he was able to reach one of the top positions in the Wall Street.Through his innovative business strategy, Bloomberg has been able to emerge as one of the most successful American businessmen. He is the founder of different companies which provide service in different sectors such as: securities, journalism, media, marketing, and so on. These companies have established their own reputation as representing the business strategy of Bloomberg.Bloomberg was able to learn the tricks of his trade when he worked for the Solomon Brothers which ultimately requested Bloomberg to leave the company after paying handsome compensation of $1 0 million. After this event, Bloomberg established his own group of companies. He found that the traders of securities needed a system wherein all the data would be available to them at a single place. Bloomberg used his technological and business knowledge in order to discover a system called ‘Bloomberg’, and this system provided all relevant information required by the securities’ traders and other businessmen.(Elstein 2005)Bloomberg has established a competitive business organization based on his appetite for taking risk and grasping market opportunities. Bloomberg has been able to establish a global financial news organization which has been able to give competition to the companies such as Reuters and Dow Jones. Bloomberg believes in providing service to the elite classes in the society, and consequently, he has not concentrated on providing service to the common people by using the internet medium. He does not believe that internet-based companies would be able to give competition to the Bloomberg boxes.Bloomberg also argues that branding of a product plays an important role in its sale.   For example, the Bloomberg brand has been responsible for the increased sale of the goods and services produced by the Bloomberg group of companies. These details show that Bloomberg believes in the use of a particular market strategy which is the combination of technological innovation, customer service, and branding. Using these strategies, he has been able to considerably improve the fortunes of his company. (Schrage 1998)During the course of long years of entrepreneurship, Bloomberg has evolved his own set of philosophy of life. Bloomberg believes in setting broad targets or goals, and he does not bother about the functioning of his subordinates as long as they delver the goods. He believed in the result rather than the method of achieving a particular goal. Bloomberg is a great workaholic and believes that one who works more than others can a chieve success in his life. Bloomberg believes in the principle that one should never look back after taking a particular decision.For example, after he decided to leave the Democratic Party and join the Republicans, he did not reflect on this decision. He believed in the philosophy of going into any contest after obtaining the advantage when compared to the competitors. Using this principle, he has been able to obtain success in his business and political life.Bloomberg also argued that the principle of loyalty is very important particularly in the business arena as the different companies always compete with each other. He believed that a company or an organization requires the direction of the leader, who, through his vision and mission can inspire the subordinates to achieve greater success in their lives. By following these different principles, Bloomberg has been able to improve his personality. His life can act as model for the younger generation entrepreneurs who wish to emu late him and establish their own successful business organizations. (Avlon 2005)ReferencesAvlon, John. (2005)   New York Mayor Michael Bloomberg: Warrior, philosopher†¦leader?Radical Middle Newsletter. 2 July 2006. Bloomberg, Michael. (2001) Bloomberg by Bloomberg. New York: John Wiley & Sons.Boyd, Herb. (2006). New York Amsterdam News. 97(2), 1-2.Elstein, Aaron. (2005). New York Mayor has a Plum in the Financial News Pie. Crain’s NewYork Business. 12(8), 19.Noon, Chris. (2004). Bloomberg Extends Philanthropy List in 2004. Forbes.com. 2 July 2006.Pearson, John. (2006). Michael Bloomberg. Our States. New York.Schrage, Michael. (1998). Michael Bloomberg. Adweek Western Edition. 48(46), 8-9.

Construction Technology Example

Construction Technology Example Construction Technology – Essay Example Media Footbridge Introduction The Media footbridge is a pedestrian walkway linking Trafford situated in the South to the new Media Development in Stafford situated in the North. The swinging footbridge cuts across the Manchester Ship Canal next to Salford Quays. The Media city is a fast growing region with offices for prominent broadcasting corporations like BBC, which will play a great role in molding the future of Salford Quays. The construction proposal was from Peel media while a collaboration of Gifford, Wilkinson Eyre Architects, and Bennett Associates were allotted the role of work on site survey and come up with a favorable design. The bridge is not only a footbridge but also a symbolic landmark anonymous to the Media City and Trafford Wharl. This paper focuses on the environmental, ecological, geotechnical, and hydrological considerations that designer and constructors of the Media Foot Bridge Salford, Manchester had to have in mind when deciding on the construction technolo gy to use. Development proposal endeavors to address the geotechnical restriction of the location, and allow pedestrians to access to the Media City Development, Imperial War Museum link to the present Lowry Bridge boosting access to the Manchester Ship Canal. The footbridge has a wharf at Manchester Ship Canal such that it can open or close when swung. Piers at every quayside offer access ramp to the bottom of the bridge. The most important part of the designing process was to decide how the bridge would open for transient vessels. The exact location of the site is Salford, within Manchester in an area currently under industrial use. The land encompasses the Manchester Ship Canal, Salford Quays within which a media City is being developed and Trafford Quay, which is currently under little significant utilization (Curran & Thompson, 2010, p. 5-6).Designing of such a bridge was vital since a fixed bridge would meddle with the public right of navigating over port Manchester, which wou ld require statutory authority. However, this opening bridge is appropriate since no controversies would arise and it construction only requires permission for planning. Peel Holdings, the client behind this project required the bridge to be greatly visible to act as a pointer to the region, maximise connectivity, as well as be distinctive, and thrilling (Bain Wright Partnership Limited, 2009, P. 16-19) The Manchester Ship Canal required the designers to consider the development potential of restraining docking of big vessels and the clearance amid the underside of bridge deck. The construction of the planned bridge does not necessitate evaluation by the Environmental Impact Assessment (EIA) as it does not fall under any of the two schedules of the EIA groupings. However, the planners had to confirm that the bridge passed test such as ability to cope with floods, was ecological friendly, and built in proper grounds. Archaeological Desk Study and Desk study of Water Quality Impacts w ere among the reports prepared to support the construction.Geotechnical results after location exploration showed the ground consist of Made Ground comprising of gravely clay and of about 1.0 and 5.0 drift deposits of organic sediment and thick gravels. The gravely clay encompasses of brick rubbles, concrete, ember, glass. Below the drift deposits was sandstone bedrock, approximately 13 meters under the ground level. The site also had evidence of other compound such as lead, and other hydrocarbons with similar chemical composition range of extractable petroleum. This called for proper care in order to reduce ground disturbance as well as appropriate disposal of both the ground and the canal silts. The bridge was designed in a manner to reduce its impact on existing structures such dock walls south of the site. Permo-Triassic Chester Pebble Beds Formation lying on Carboniferous Upper Coal characterizes the underlying ground. (Bain Wright Partnership Limited, 2009, P.4-10)Ecologically the site mainly comprises of short perennial vegetation common in urban settings. Assessments proved that construction of the bridge would not affect the role of the Manchester Ship canal as a wildlife strip. However, mitigation measures were recommended to ensure that the construction did not cause pollution. The designers were required to consider drainage aspects as well as treatment of wastewaters to diminish pollution. The site is reasonably far from Trafford Ecology Park thus no serious impacts were projected (Bain Wright Partnership Limited, 2009, p 17).The bridge received approval from Technical Approval of Highway Structures for fulfillment of features such as design suppositions, loading, as well as the analysis techniques. Construction Design and Management (CDM) assessed the risks the construction could have on the health and safety of constructors, user, and all those involved in the designing. The assessment was done throughout the designing and construction process t o ensure the project did not put the health or life of anybody at risk (Curran & Thompson, 2010, p.4).Hydrological results showed a key aquifer beneath but the site does not fall under a groundwater protection region. The water height of water in the canal is about 21.37m AOD. Flood risk assessment demonstrated that groundwater heights are above base of canal thus no anticipated pollution and had no residual flood jeopardy. Foundation not expected to expose underlying silt peat deposits (Bain Wright Partnership Limited, 2009, P. 16-18)In conclusion, the construction of Media Foot Bridge Salford posed no danger on environment, was ecologically friendly, and put into consideration the welfare of the society. The important role the development would play overweighed on the minimal risks it could possibly pose to the life of residents as well as the environment. The bridge design reduces its impact on existing structures such as the already present dock walls south of the site.Bain Wrig ht Partnership Limited 2009, Trafford Wharf Promenade: Planning Statement.Curran, P & Thompson, S 2010, Media City Footbridge, Salford Quays. Viewed 06 May 2012

Your Offices Hot and Cold Temperatures

Your Offices Hot and Cold Temperatures Far too many office workers know the daily routine. The workplace either feels like you are in the middle of the blazing desert without a twig to stand under for shade or like you’re at the North Pole without an igloo to cut the icy wind. That’s because office temperatures are based on a 50-year-old formula that involved the resting temperature of a 40-year-old man who weighed 145 pounds. Working when you are uncomfortably hot or cold can be a challenge, but there are tips that can help you make it through the day and feel more comfortable.Layer Your ClothingIf you’re feeling like Bob Cratchit working for Ebenezer Scrooge, try layering your clothing to stay warm. Men already frequently do this by wearing a suit and adding a vest as an extra layer. Women often wear dresses to work, but if you wearing a pantsuit with an added vest, you can look chic and stay warmer. If you are still cold, bring a sweater and add an extra pair of socks and a wooly scarf.Get Somethin g to DrinkYou can help cool yourself down or warm yourself up by getting something to drink. Hot coffee, tea, or even a cup of soup can take away that frosty chill. When you’re feeling hot, opt for a drink with ice, cold fruit juice, or chunks of frozen fruit.Get Out of the OfficeStep out of the office for a few minutes to warm up or cool down if there are areas in the building where it is more comfortable. Just walking will warm you up some. Going out to lunch is another option, even if it’s just for a quick bite in a place with a more comfortable temperature. This gives you the ability to reenergize yourself for the rest of the day.Watch What Fabrics You WearYour choice of fabrics in a business environment can affect whether you feel too hot or cold indoors. When you feel too warm, wear breathable fabrics such as cotton, linen, or silk. The light weight and breathability lets the moisture evaporate from your skin faster because these fabrics allow better air circulat ion.Additional Options to Cool Down or Warm UpYou’ve changed your clothing and are sipping like mad on hot or cold drinks and it still isn’t enough, it’s time to go into emergency mode. If you are too hot, unplug all unnecessary equipment around you because those little machines put out heat. Unplug your lamp, too. Bringing in a small fan can be helpful to keep you cool. If the cold has you shivering, ask your boss if you can use a small space heater and get a pair of fingerless gloves for frosty hands.Sometimes you have to make small accommodations to work in a great job, and adaptability is also useful to find that perfect job. Using a job search site helps by doing the search for you. After you enter your qualifications and job interests, TheJobNetwork works around the clock to find matches for you and notifies you right away. That way, you don’t miss any opportunities and are able to be among the first in line to apply for the position. In addition, y ou can perform job searches on the platform yourself.Searching for the job you want was never easier. When you sign up for job match alert, you’re on your way to a new career.

Outline and discuss the evolution of CSR, including its history, role Assignment

Outline and discuss the evolution of CSR, including its history, role in the financial crisis and prospects for the future - Assignment Example J. Maurice Clark argued in 1916 that â€Å"if men are responsible for the known results of their actions, business responsibilities must include the known results of business dealings, whether these have been recognized by law or not† (Clark, Abramovitz, & Ginzberg, 2009, p. 83). This paper critically examines the concept of CSR, its implications for both business and communities and the drivers for CSR. Analysing and understanding the concept of CSR is crucial because it focuses on the development of a sustainable future. CSR is important because it affects all facets of businesses and, in turn, businesses are vital because they generate much of the welfare and wealth in society. By itself, CSR is ever more critical to firm value and societal stability. Hence, fundamental to the notion of CSR is determining where businesses belong in the society. By dealing with environmental issues, corporate ethics and governance, and other concerns, society builds a progressive framework w herein companies operate (Nakajima, 2011). Framework is progressive because the perfect combination of business objectives and societal demands is continuously changing. Although businesses are mainly in charge of generating wealth and motivating growth in society, they do not operate single-handedly. Governments are important because they develop and establish the policies and limits through which businesses and society function. Furthermore, nongovernmental or non-profit organisations are tasked to generate social goods without satisfying the obligations of a government agency or pursuing profit. However, in the absence of innovation free enterprise demands, economic and social growth deteriorates (Alexander, 2010). In the absence of the powerful wealth-generating mechanisms of business, the resources necessary to activate non-profit organisations and government agencies wither, eventually diminishing people’s quality of life. Businesses generate numerous societal goods. Ye t, they also bring about serious harm, as economic crunches, industrial mishaps, increasing unemployment rate, and environmental problems reveal. The governments then respond with regulatory policies to limit the worst unethical practices of businesses (Pedamon, 2010). Between the severe damage and general good businesses generate, consequently, resides interest in the legitimate role of businesses in society, particularly as technological advancement and globalisation widen the influence and power of major corporations. Economist Milton Friedman claims that â€Å"Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible† (Aras & Crowther, 2010, p. 327). Yet, in contrast, companies are more and more pressured to operate with a multiple-stakeholder perspective (Alexander, 2010)—recognising the needs and demands o f various stakeholders, such as customers, shareholders, and employees while fulfilling responsibility for communities and the broader environment wherein they conduct their business. Implication of CSR for Business Although there are various ways to view the advantages of CSR because they are interconnected, they mostly involve the following: first, enhanced reputation; second, more positive and stronger ties with communities; third,

Environmental Legislation of the European Union Essay

Environmental Legislation of the European Union - Essay Example The essay "Environmental Legislation of the European Union" talks about the EU Environmental legislation which addresses issues like water and wastes pollution, noise pollution, air quality, thinning of the ozone layer and acid rain. The institution for European Environmental Policy approximates the body of EU environmental legislation totals to over 500 Decisions, Regulations, and Directives. According to the Commission and Document, environmental legislation comes into power as soon as it is printed in the approved Journal of the European Union. The main aim of this legislation is that it will set out the environmental policies or goals that are needed to be attained by the member states. Major areas of this environmental policy include the Water Framework Directive is a type of a water policy, aiming for coastal and ground waters, lakes, and rivers to be of good quality, the Habitat Directive entails the protection of natural habitats and biodiversity, and lastly the Birds Directi ve. The environmental legislation of the European Union should be centered on a particular agreement article or articles which are placed in the Treaty on the Functioning of the European Union (TFEU) or the Treaty on the European Union (TEU) that is denoted as its legitimate base. The legitimate or legal base recommends the legislative process and the type of directive that can be implemented. The main purpose of the environmental policy of the European Union is to make sure that the environment is taken care of efficiently.