Rome and Milan During the Renaissance Essay Example for Free

Rome and Milan During the Renaissance Essay The Renaissance is a period in the history of Europe beginning in about 1400. The word Renaissance in French means rebirth. During the Renaissance, there were many famous artists, many writers and many philosophers. Many people studied mathematics and different sciences. A person who is knowledgeable in many different things is sometimes called a Renaissance man. Leonardo da Vinci, who was a painter, a scientist, a musician and a philosopher, is the most famous Renaissance Man. The Renaissance started in Italy but soon spread across the whole of Europe. People † The time of Ancient Greece and Rome, when there were many philosophers, writers, painters, sculptors, architects and mathematicians was seen by people as a Golden Age, a time when things were beautiful, well-organized and well-run. This time had lasted from about 400 BC to about 400 AD. In the year 1400, in the city of Rome, people could wander around looking up at the ruins of a city that had once been great. Inside the broken walls that had been smashed in 410 AD were the remains of huge temples, sports arenas, public baths, apartment blocks and palaces. Nearly all of them were ruined and could not be used. Nearly all of them were half-buried in dirt. A lot of them were pulled down to use as building stone. But they showed people what great things could be done. Among the ruins of this once-great city, the people of Rome lived in cottages. They still went to church in the huge churches (basilicas) built by the first Christian Emperor, Constantine the Great, in the 4th century. They still held market day in the Ancient Roman market place of Campo dei Fiori (Field of Flowers). One day in 1402, into the middle of Rome, came a young man called Filippo Brunelleschi and a teenage boy called Donatello. They were fascinated by everything that they saw. They measured ancient ruined buildings, they drew things and they dug around for weeks looking for bits of broken statues and painted pottery that they could stick together. They were probably the worlds first archaeologists. By the time they went back home to Florence, they knew more about Ancient Roman architecture and sculpture than anyone had known for about a thousand years. Brunelleschi became a very famous architect and Donatello became a very famous sculptor. They both used the ideas that they had, when they were studying the remains of ancient Rome†. [1] During the renaissance there was great economic growth. †In the 13th century, much of Europe experienced strong economic growth. The trade routes of the Italian states linked with those of established Mediterranean ports and eventually the Hanseatic League of the Baltic and northern regions of Europe to create a network economy in Europe for the first time since the 4th century. The city-states of Italy expanded greatly during this period and grew in power to become de facto fully independent of the Holy Roman Empire; apart from the Kingdom of Naples, outside powers kept their armies out of Italy. During this period, the modern commercial infrastructure developed, with double-entry book-keeping, joint stock companies, an international banking system, a systematized foreign exchange market, insurance, and government debt. [2] Florence became the centre of this financial industry and the gold florin became the main currency of international trade. The new mercantile governing class, who gained their position through financial skill, adapted to their purposes the feudal aristocratic model that had dominated Europe in the Middle Ages. A feature of the High Middle Ages in Northern Italy was the rise of the urban communes which had broken from the control by bishops and local counts. In much of the region, the landed nobility was poorer than the urban patriarchs in the High Medieval money economy whose inflationary rise left land-holding aristocrats impoverished. The increase in trade during the early Renaissance enhanced these characteristics. The decline of feudalism and the rise of cities influenced each other; for example, the demand for luxury goods led to an increase in trade, which led to greater numbers of tradesmen becoming wealthy, who, in turn, demanded more luxury goods. This change also gave the merchants almost complete control of the governments of the Italian city-states, again enhancing trade. One of the most important effects of this political control was security. Those that grew extremely wealthy in a feudal state ran constant risk of running afoul of the monarchy and having their lands confiscated, as famously occurred to Jacques Coeur in France. The northern states also kept many medieval laws that severely hampered commerce, such as those against usury, and prohibitions on trading with non-Christians. In the city-states of Italy, these laws were repealed or rewritten†. [2] Romans architecture was also something developed during the renaissance. â€Å"The obvious distinguishing features of Classical Roman architecture were adopted by Renaissance architects. However, the forms and purposes of buildings had changed over time, as had the structure of cities. Among the earliest buildings of the reborn Classicism were churches of a type that the Romans had never constructed. Neither were there models for the type of large city dwellings required by wealthy merchants of the 15th century. Conversely, there was no call for enormous sporting fixtures and public bath houses such as the Romans had built. The ancient orders were analysed and reconstructed to serve new purposes†. [3] â€Å"The Roman orders of columns are used:- Tuscan, Doric, Ionic, Corinthian and Composite. The orders can either be structural, supporting an arcade or architrave, or purely decorative, set against a wall in the form of pilasters. During the Renaissance, architects aimed to use columns, pilasters, and entablatures as an integrated system. One of the first buildings to use pilasters as an integrated system was in the Old Sacristy (1421–1440) by Brunelleschi†. [4] There were some people in Rome who weren’t Christian and even opposed it. â€Å"There are thousands of instances of this kind, where nothing will prevail,not even the majesty of the Christian name nor reverence for Christ himself (whom the angels fall down and worship, though weak and depraved mortals may insult him), nor yet the fear of punishment or the armed inquisitors of heresy. The prison and stake are alike impotent to restrain the impudence of ignorance or the audacity of heresy†. [5] The Roman renaissance was the greatest renaissance. â€Å"They left Florence for a city that was greater than Florence ever dreamed of being, They left for the imperial city they left for rome†. [6] Milan was also very important in the renaissance. â€Å"When we think of the Renaissance we automatically think of Italy, but we must not fall into thinking of the Italian peninsula during this time as a nation. Far from it he southern half of the Italian boot was the Kingdom of Naples. In the North was the most powerful of the city-statesthe Duchy of Milan†. [7] â€Å"Central to the city of Milan were the Dominicans. Church and state were not separate but two legs of a single civic being, neither of which could have survived long without the other. The home of the Dominicans, the church of Santa Maria della Grazie went from being a modest oratory in the middle ages to a major cathedral with its own elaborate monastery complex in the fifteenth century, becoming the centre of all learning in the city. It was here, in the refectory (dining hall) that Leonardo staged his Last Supper. It was here Bramante learned his trade, laying the foundation for the new St. Peters Cathedral in Rome. Unlike Venice or Florence, or Rome, Milan (aside from the Last Supper) is not known for its painting but for its robust power and pursuit of scientific knowledge. Architecture and engineering, science and religion were the key elements in its strong, towering presence as it cast a ponderous shadow over all of Italy during this time. †[8] References http://www.humanitiesweb.org/human.php?s=gp=aa=iID=423 http://en.wikipedia.org/wiki/Renaissance_architecture#cite_ref-10 http://simple.wikipedia.org/wiki/Renaissance

Business Essays Entrepreneurs Business Knowledge

Business Essays Entrepreneurs Business Knowledge Entrepreneurs Business Knowledge Literature Review Several studies have shown that entrepreneurial ventures are one of the main contributors of new firms (Storey 1994). An increasing number of people in the UK are starting or are considering starting up their own business. These individuals are commonly known as ‘entrepreneurs’. The word entrepreneur was of French origin which evolved into meanings such as people who take risks, and founders of businesses (Hennessy 1980). They have evolved from simple merchants to more sophisticated corporate men. Entrepreneurs can also be defined as ‘people who organise and manage a business undertaking, assuming the risk for the sake of profit’ (yourdictionary.com 2008), however there is much more to entrepreneurship than a simple definition. There are different types of entrepreneurs who possess certain traits that make them successful in business. Research carried out by Kortschak (2008) discusses five traits that successful entrepreneur’s small and medium-sized companies share: Making strategic decisions based on limited data – good entrepreneurs tend to make decisions based on 80% of the data they have to hand, as they understand that waiting to learn more could mean a missed opportunity. Learning from mistakes – this trait is often seen in serial entrepreneurs who have experienced one or more business failures, which they often learn more from that mistake than the success. Understanding their own weaknesses – the best entrepreneurs understand their area of expertise, strengths, and weaknesses. Even though they have a general understanding of other disciplines they realise they lack knowledge in other areas for example, technical. In this case the successful entrepreneur would hire experts who can complement their skills. Spot patterns and key data – Kortschak (2008) identifies that the common environment in which an entrepreneur enters is dynamic where the structure of the industry, the nature of the customer base, or they overall way of doing business has not yet been determined. Successful entrepreneurs who run their companies are generally confident in building structure where none is in place; in addition to identifying patterns they are able to separate relevant information from irrelevant data. Partnering successfully with others – success in business is mainly about partnership. It is important for an entrepreneur to communicate well with others to work with fellow partners in agreeing business decisions and to communicate well with their team in accomplishing business objectives. Poor communication and being unable to work with others results in an unsuccessful business. It has been said many times that there is an entrepreneur behind every successful business. This can be due to a number of reasons but the one that many tend to overlook is personalities. One of the reasons for most successes is that the entrepreneur with the right personality and attitude was right for that particular business, for example, Bill Gates was seen as ‘The Visionary’ for his innovative ideas, and Anita Roddick, founder of Body Shop was seen as ‘The Improver’ as she wanted to improve the environment using natural ingredients in her products and ridding harsh chemicals and animal testing of cosmetics. Zahorsky (2008) identifies that there are nine personality types of entrepreneurs: The Improver – with this personality type the entrepreneur is more focused on using their company as a means to improve the world / environment. They have an ability to run their business with high integrity and ethics. Example of an entrepreneur, Anita Roddick, founder of The Body Shop. The Advisor – this business personality types provides a high level of assistance and advice to customers. The motto with this personality type is the customer is right and everything must be done to please them. This personality types build their companies to become customer focused. Example of an entrepreneur, John Nordstrom, Founder of Nordstrom. The Superstar – with this personality type the business is normally centred around the charisma and high energy of the superstar CEO and more than often the business is built around the entrepreneurs own personal brand. Example of an entrepreneur, Donald Trump, CEO of Trump Hotels and Casino Resorts. The Artist – with this personality type the entrepreneur will tend to build their business around the unique talents and creativities they posses for other businesses demanding creativity such as web design. Example of entrepreneur, Scott Adams, creator of Dilbert. The Visionary – an entrepreneur with the visionary personality type will most likely be based on the future vision and thoughts of the founder. This personality type will have a high degree of curiosity to understand the world around you and set up plans to avoid the problems. Example of entrepreneur, Bill Gates, Founder of Microsoft Inc. The Analyst – this personality type is often the basis for science, engineering, or computing firms that are well known for problem solving. The entrepreneur possessing this personality type will run their business as an analyst and always focus on fixing problems in a logical way. Example of entrepreneur, Gordon Moore, Intel Founder. The Fireball – the entrepreneur with this personality type will be full of life, energy, and optimism. Their company would make customers feel the firm has a ‘get it done’ attitude in a fun way. Example of entrepreneur, Malcolm Forbes, Publisher, Forbes Magazine. The Hero – the business run by the hero personality type would have an incredible will and ability to lead their company through any challenge and can assemble great companies. Example of entrepreneur, Jack Welch, CEO GE. The Healer – the healer personality provides nurturing and harmony to their business and an ability to survive with an inner calm. Example of entrepreneur, Ben Cohen, Co-Founder of Ben Jerry’s Ice Cream. An entrepreneur’s business personality types and traits are some of the key success factors that blend with the needs of the business. With this combination businesses excel further. The media gives a great deal of attention to those who start their businesses with nothing and turning it into large successful organisation. An increasing number of entrepreneurs are young individuals with fresh ideas and an energetic attitude. However an entrepreneur’s age, educational background, and previous business-related experience is not as nearly as important as his or her desire to learn and willingness to bounce back from the obstacles associated with creating a new business endeavour (a trait that successful entrepreneurs share). A typical entrepreneur starts their business by using their savings, re-mortgaging their house, or borrowing from friends or family at a low or interest free rate which can be beneficial when starting out. Eventually the business starts to grow or the finance sources start to dry up, either way the business is in need of financing, which is defined as ‘money to implement a project; it is usually used to mean money lent, or equity provided’ (mos.gov 2008). When small businesses have actually become successful and have a track record then venture capital firms and banks will consider funding the business. Venture capitalists are defined as ‘professionally managed organisational investors’ (Harrison and Mason 1992). Even though banks are a popular and major source of finance for new and growing businesses, they have become less willing to lend money to new ventures (Mason and Harrison 1995, business angel book). Research from Oates (1992) suggests that major retail banks are apprehensive to financing new ventures after the losses in the early 1900s. Prior to this banks had been willing provide high levels of funds to finance start-up and expanding businesses, this was during the macro-economic boom of the mid 1980s (Murray 1994 business angel book). However the recession following this growth led to a considerable increase in the number of small businesses failing. The bank of England’s quarterly bulletin in February 1994 reported that throughout the recession (1992 – 1993) business failures had risen to 55,000 a year. This compared to a more normal rate in the 1980s had more than doubled, and the vast majority of these failures were in the small business sector. Thus the effect of this was a substantial increase in bad debts suffered by banks. The strain of these bad debts and their negative impacts on profits led to banks being reluctant to finance businesses that have just started out. Smith (1994 business angel book) suggests that many banks prefer to use short-term overdraft finance rather than long-term, fixed-rate financial packages. This is because shorter-term packages are not as damaging when the business experiences financial difficulties, however banks will cater for new businesses that have an extremely strong and promising proposal. This has led banks to avoid financing small / medium sized firms, thus leaving a gap in the market for financing smaller businesses. The venture capital industry in the UK is very well developed but does not adequately cater for young businesses. Murray (1994, business angel book) views the venture capital industry as not being a major source of finance for entrepreneurial ventures. One of the reasons why most venture capitalists avoid small business investments is because they are not pleased with administrative tasks that come with these investments, especially when the likely return is not substantial and does not compensate the amount of work required for young entrepreneurial ventures. According to Smith (1994 business angel book) venture capital firms focus more a great deal on management buyouts and the development of established existing businesses, rather than new ventures. Due to this stance of venture capitalists it has led them away from the small / medium sized firms, which also has resulted in a gap for new entrepreneurial ventures. The table ? below highlights some of the main differences between business angels and venture capitalists. Table ? – Business Angels vc Venture Capitalists Source: www.1000ventures.com As it can be seen from table there are many differences between business angels and venture capitalists. The table highlights an imperative point discussed earlier of business angels investing at the start-up / early stage of a small business whereas venture capitalists invest at a later stage of medium to large organisations. The table also shows that business angels are more active and hands on in their investments (active angels) whereas the venture capitalists are more strategic. The gap between family/friends and banks is often referred to as an ‘equity gap’. Financial Times interviewed Peter Jones (an extremely successful entrepreneur and investor) who quotes that there is a funding gap out there for entrepreneurs starting out and that finance is available for them but very hard to find and at this stage for an entrepreneur it is probably the single most biggest hurdle (Moules, Financial Times, 2006). The challenge of overcoming this equity gap is amongst one of the topmost reasons for small businesses not achieving their full potential. According to an article in The Guardian most entrepreneurs overcome this obstacle by obtaining finance from ‘Business Angel’s’ (Kollewe 2007, Guardian). Business Angels are successful entrepreneurs running successful businesses, they invest in budding entrepreneurs in return for a percentage of the business and tend to invest in businesses that have the potential to return a healthy profit. The term angel was originated by Broadway insiders in the early 1900s to describe wealthy theatre-goers who made high risk investments in theatrical productions (Mason 2005). The term business angel was given to those individuals who perform essentially the same function in a business context (Benjamin and Margulis 2000). However, this type of business financing has only become significant since the 1950s and 1960s. Business angels are now defined as private, wealthy individuals who invest their own money as well as their time in small, young, unquoted companies with whom they have no family connections (Deakins and Freel 2003). BNET.com (2007) defines business angels as an affluent individual who provides capital for a business, typically an equity investment. It is well known that angels rarely loan money without any strings attached (i.e. investing in return for a percentage of the business equity); they most often support entrepreneurs and new businesses. Landstrom (1993) states that most business angels have the same characteristics overall. He profiles them as heterogeneous group of people, as almost all business angels are or have been entrepreneurs from different backgrounds. However research carried out by Coveney and Moore (1998) suggests that there is more to a business angel than just wanting to make money. Coveney and Moore (1998) discuss that there are six different types of business angels. (See table 1 – table of different angels in book page 11). Entrepreneur Angels – these are the most active angels and experienced investors. They tend to have been successful entrepreneurs and now looking for ways to diversify their portfolio or expand their current business. They are well known for making frequent and large scale investments, not just for financial gain but for satisfaction of making investments and interacting with the founders/managers. They are also considerable wealthier than other individual business angels. Corporate Angels – these are companies that make angel type investments. These types of angels have been found to invest larger funds than other business angels and have corporate resources at their disposal (Coveney and Moore 1998). They tend to invest mainly for financial gain. Income Seeking Angels – are active business angels who make few and small investments for financial gain and to generate income/job for themselves. Wealth Maximising Angels – are a group of active business angels who have made several investments in new and growing ventures, they make their investments primarily for financial gain. They are generally wealthy but not as wealthy as entrepreneur angels. Latent Angels – these angels are inactive angels who have made one or two investments in the past but not in the last three years. Latent angels are self made private individuals who are very wealthy and have vast amounts of funds to invest. When looking to invest latent angels will be concerned with location of the venture as they would prefer to invest in opportunities close to home, as shown in table (ba v svc)?. Virgin Angels are angels who have not made an investment as of yet but are looking to finance new and growing businesses to create an income for themselves and to increase the return on their investment as much as they can. Virgin angels have fewer funds to invest than active angels. According to Mason and Harrison (1995)(business angels book) there are more virgin angels than active angels and that if half of the virgin angels became active then the total informal venture capital market would grow to ten times the size of formal venture capital market. Most of the time angels prefer to be ‘active angels’ as they like to invest in ventures and monitor their investments to ensure success. Similarly they prefer to invest in new young companies that are at their start-up stage and within close proximity to their home or work place (Harrison et al 2003). However research shows that although angels prefer to be active angels there are more virgin angels than active. (please see chart below). Chart ? – Business Angel market could become 10 times larger Source: www.1000ventures.com Chart (above) shows that in 2000 there were more virgin angels recorded than active angels, this suggests that there are reasons for business angels not being active in investing in entrepreneurial ventures. If the virgin angels could find the right venture to invest in then the business angel market could potentially increase significantly. Could this be solved by angels den? Mason and Harrison (1995)(business angel book) state that most small / medium sized businesses are successful because of the right angel that has backed the business. This could also suggest that the wrong angel could mean failure of the business which is not the case as business angels have experience in all areas of running an organisation but are experts in certain areas, thus this does not mean the business would be unsuccessful. As mentioned earlier Business Angels fulfil an increasingly important funding niche, as banks only loan capital at interest, and venture capitalists invest relatively large sums generally when businesses wish to expand (see appendix I), which leaves the angels to support numerous new businesses each year. The critical issue for young vibrant businesses is finding sufficient funding for start-up and growth (Southon, Financial Times, 2008). Most entrepreneurs first look to banks, and venture capitalists for funding, these sources however can fund only a small percentage of businesses. It is now common for young businesses to find funding from business angels as they cater for this funding niche. The involvement of banks investing in entrepreneurs is lower than the venture capitalist investments (Fiet and Fraser 1994). Some of the benefits of banks entering venture capital finance are discussed by Fiet and Fraser (1994). One of these benefits suggests that the participation of banks would contribute to the elimination of the widely reported capital gap that may exist for funding new ventures. However due to the low involvement of banks investing in new and young entrepreneurs this has increased the involvement of business angels. There have been surprisingly few attempts to compare business angels with non-investors (banks). This is largely due to the fact that their exact population is unknown, however as mentioned earlier a number of studies show that there has been a significant increase in recent years. It is evident from Fiet and Fraser’s (1994) research that business angels provide much more funds for new businesses than venture capital firms and banks, yet their existence is not as well known as banks. Mason and Harrison (1995)(business angel book) state that the reason for business angels not being well know as other investments is because many of the investments made by business angels goes unrecorded by the government due to the scale of investments. Research undertaken by Macht (2007) discusses the post-investment period of business angels and their involvement and impact upon their investments. This study focuses solely on business angels where a survey was administrated online and electronically to business angels to explore their involvement and impact on their investments after the investment had been made, hence post-involvement. This was a useful analysis of why business angels invest and what motivates them. However the research does not consider the entrepreneurs or any other investment when the analysis was carried out. The study by Macht (2007) could add value to this research when assessing what factors business angels contribute in their investment and what sets them apart from banks. There are many banks offering loans to entrepreneurs to either start up their business or support the expansion of the business. Banks requires a thorough business plan submitted for them to evaluate whether the individual is credit worthy, whether they will be able to pay their loan, and within what timescale. According to Small Business Administration (SBA) the most common way entrepreneurs finance their growing or expanding business is through banks (SBA 2008). Banks provide the finance needed if the individual can demonstrate the ability to keep in business, and their ability to repay the loan and meet the firms other obligations. SBA (2008) state that a more difficult route of obtaining finance is from business angels and venture capitalists as these individuals and firms assist companies to grown in exchange for equity or partial ownership. (refer to appendix – show a graph of a business life cycle, i.e. start-up, expansion, maturity etc). SBA (2008) claim that there is no such thing as one hundred percent financing and that it would be required from the entrepreneur to invest some funds into the business before a lender will provide financing, especially banks. However research has shown that business angels have financed entrepreneurial ventures one hundred percent based on the entrepreneurs idea / invention. Dragons Den has become a popular show on television where a group of angels form a network to invest in budding entrepreneurs who pitch their business ideas to the business angels. It has become apparent from this program that business angels have provided one hundred percent finance in entrepreneurial ventures. When applying for finance to business angels they generally would want to know details of the entrepreneur’s current financial situation and background, however with banks it is much more complex than this. There are several questions a bank would need answers to before they would consider any application for a business loan such as, the specific purpose of the loan, the amount you are requesting, when and how long you would need the funds, how the loan will be repaid, what collateral will be used, and whether the business owners will provide a personal guaranty of some sort. A typical loan request involves the following components: Statement of purpose – outlining your purpose of the loan, what it will be needed for, and for how long etc. Business plan – outlining what the business does and it’s short and long term goals. Financial statements this will outline the financial capacity and performance of the business which is important as it will give the lender an insight to how you have generated revenue in the past and how you will continue to do so in the future. A thorough complete loan application alone would not suffice when borrowing funds from a bank. Further evaluation would need to be done on an individual’s financial background to see if they are credit worthy, this is different to the evaluation of the business financials. According to Barclays Plc bank, there are three aspects of credit in making loans decisions which are outlined below. Character – a check on your financial status and personal credit history. Capacity – having sufficient cash flow to pay off the loan. Collateral – providing assurance to the lenders as a last resort should the business not prove profitable. Collateral is a key aspect when applying for finance to a bank. Banks would want to lower the risk of lending as much as possible so that they would feel more confident the loan would be paid on time and in full, which is why they require security on assets, i.e. house, car. Majority of banks offer various loan packages for those wishing to start up or expand their business. This is with the intention to suit the loan to the needs of the particular business. For example, a common loan that banks offer are the small business start up loan package, which are only available on a guaranty basis. The small business loans are not fully guaranteed by the Government where normally if a payment default occurs; the Government will reimburse the lender for its loss up to a certain percentage. To be eligible for a small business loan the firm must not exceed one hundred employees in a wholesale business, or generate more than $21 million in annual revenue (HSBC 2008). This varies for a manufacturing firm (please refer to appendix ? – SBA slides 15). In addition to this, assistance cannot be proved to non-profit organisations, firms involved in illegal activities, or a monopoly situation or businesses engaged in pyramid sales. The small business loan can be used for many purposes such as, purchase of land and buildings, long or short term working capital needs, or purchasing an existing business. Other loans offered by banks are special purpose loans, and basic micro-loans. The special purpose loans serve specific markets such as export markets. The special purpose loan is designed to be short lived that is only required at times of market needs. The basic micro-loans are small loans for small businesses who struggle to obtain conventional financing but have good prospects for repaying the loan back. The micro-loans are under $35,000 but on average the loan size is $13,000, according to Halifax bank plc. These loans help finance the equity gap however are subject to the entrepreneurs’ potential in repaying the loan. (need to find accurate referencing for these banks mentioned, also change $ to  £. P.s. click on slide link for info). As mentioned earlier, if approaching a business angel for finance then the business angel would need to know financial and background specifics of the entrepreneur and the venture. For an entrepreneur, preparing a business plan is vital whether it be for banks, venture capitalists, or business angels. The hardest part to obtaining finance from a business angel is to actually finding business angels, as business angels are not as publicly known as banks nor are they known for financing as many investments as banks do. Similarly it has been hard for business angels to finance investments due to a lack of access to a range of investments. Hughes (1996) found that business angels would invest more frequently if they had access to a better range of investments; however he also stated that many potential ventures which meet the minimum criteria of business angels still goes unfunded. This shows that the right type of business angel cannot gain access to the right type of venture. Recent research shows that in order to overcome the hurdle of the angel meeting the right investment, vice versus, business angels have come together to form networks (FT Moules 2007). This allows a group of angels to combine their funds together to offer larger investments for entrepreneurs needing larger finance. Thus the entrepreneur also benefits from having more than one business angel on board to provide the business with their expertise and knowledge. As mentioned earlier, Dragons Den is a group of business angels who invest in entrepreneurial ventures that are brought forward to them. There have been several cases where more than one angel has invested in the same venture. There has been further development of the traditional angel networks of meeting entrepreneurs face to face. Angels Den has been one of many to launch an online networking website that specifically aims to connect entrepreneurs with business angels (FT Moules 2007). How this works is that the users of this service would pay a small fee of around  £100 to pitch an idea to the websites private investors. If the idea is liked then entrepreneur must pay a larger fee of around  £400 to pitch a full business plan. From this point if the investor is interested in the pitch then a face to face meeting is arranged. The fees that are charged for these websites are to be said a ‘fraction of the cost of traditional marketing’, according to Financial Times 2007, Moules. Angels Den does not take equity stakes in funded businesses or a percentage cut from completed deals, and the service is free to business angels (angelsden.co.uk). The website encourages business angels to join which is free for them to do so; this is beneficial for entrepreneurs as it does not discourage business angels from joining hence increasing their chances of finding the right angel. This method is gradually becoming well known to the public thus increasing the exposure of business angels. It would therefore become much easier for entrepreneurs to find business angels and not feel banks and venture capitalists are the only accessible alternatives for finance, especially for those that have poor credit and no security to offer banks. It would also be easier for the government to measure the investment activity on annual basis and realise that business angels do make more investments than currently recorded that fill the equity gap (FT Mason, 2007). There had been attempts in the past to achieve similar objectives to the online networking sites as discussed above, these were referred to as business introduction services. They had tried to act as communicators between entrepreneurs seeking capital and interested potential investors; however this service did not exist online. According to Hughes (1996) these organisations had not been very successful in overcoming the problem of filling the equity gap, which still exists to this day. An article by the businesszone.co.uk states that one of the most common mistakes that individuals’ starting out in business make is assuming that they can reach their full potential by themselves. Whereas Dragons Den angels Theo Paphitis, and Peter Jones claim that the biggest mistake entrepreneurs make is over-estimating the value of their company and not having enough cash to sustain the business. As Theo Paphitis quotes â€Å"cash is king†. Even though business angels seem to be more beneficial as investors than banks Drury (2008)(nzherald.co.nz) states that the vast majority of business angel deals do not proceed well. This can be because companies can often take much more time than the angel had thought and also more cash than forecasted. This could also be because the angel that has made the investment is a first time angel investor and thus lack experience. Drury (2008) also states that some angel investors may not know they are an angel yet as anyone moderately wealthy could potentially be an angel if they find a venture to invest in. There are many ways to define beneficial, prenhall.co.uk defines beneficial as ‘producing or promoting a favourable result’. In terms of investing in entrepreneurs and which investment would be beneficial for entrepreneurial ventures this can be measured by reviewing what factors are advantageous for the entrepreneur and their business. Some of the factors can include the following: Finance provided Interest rate Expertise Knowledge Using business angel contacts Involvement from the investor to improve things No involvement from the investor, therefore less interference in the business Studies have shown that business angels can provide added value beyond financial capital (Ehrlich et al 1994). Having a business angel invest in the venture can help sustain competitive advantage, which is beneficial for the entrepreneurs’, as the angels bring more than capital to the business; they can bring their experience, contacts, and expertise to progress the business further. The resource-based perspective argues that sustained competitive advantage is generated by the unique bundle of resources at t

What is Religion Essay -- essays research papers fc

World Religion What is Religion?   Ã‚  Ã‚  Ã‚  Ã‚  According to the American College Dictionary, religion is a noun defined as the quest for the values of the ideal life. This definition is vast and general, allowing for a variety of interpretations by people from all cultures. There is no single path to follow in order to lead an ideal life, only personal beliefs and experiences. Religion is non-finite so there is no way of determining a boundary (Smart, 5). In my quest for a true understanding of what religion is I explored my own traditions and religious beliefs as well as life experiences. Slowly, with the added insight from the text and videos, my own definition of religion has begun to take shape.   Ã‚  Ã‚  Ã‚  Ã‚  Perhaps the most powerful statement made about religion was made by Dr. John Simmons of Western Illinois University. He makes the valid point that religion is not a noun, but a verb. Religion is based on beliefs and how people act based on those beliefs. Tradition, prayer, and meditation are all acts of religion and are considered intangible behaviors. Although many rituals of religion are â€Å"things†, the ethical and social portions are lifestyles. In addition to this point, Dr. Simmons mentions the possibility of religion being founded as a way to understand and answer important questions about life and death. People must find out who they are, why they are here on Earth, and what purpose their life holds. Questions known as boundary questions are posed when humans are faced with new situations in their lives (Beliefs and Believers, Class 1). They must believe that there is reasoning to support their actions. Rites of passage are the most frequent exper iences involving boundary questions. For example, as a child of Christian parents, I was told that people die because it is their turn to be with Jesus. Heaven made sense to me and comforted me, knowing that my loved ones would be in such a wonderful place. Also in the Christian religion, questions may arise about the beginning of life and how we got to Earth. The myth of Adam and Eve and the story of the Creation answers that for Christian believers. As for my purpose on Earth, my question was answered by the Christian doctrine. I am here to spread the word of God in actions and words so that all humans may know His love. However, these answers do not make sense to a... ... identity and answers profound life questions otherwise unobtainable. In only a short period of time, my perception of religion has changed vastly. I have been introduced to many other perspectives that have impacted my own beliefs. I hope that as I continue to study new religious ideas, my understanding and knowledge will grow as well. BIBLIOGRAPHY Beliefs and Believers. Teleclass.   Ã‚  Ã‚  Ã‚  Ã‚  University Park, Illinois: Governors State University, 1999 Marty, Martin. Interview with Dr. John K. Simmons. Beliefs and Believers:   Ã‚  Ã‚  Ã‚  Ã‚  University Park, Illinois: Governors State University, 1999 Simmons, Dr. John K. Beliefs and Believers Teleclass Study Guide.   Ã‚  Ã‚  Ã‚  Ã‚  Dubuque, Iowa: Kendall/Hunt, 1999 Smart, Ninian. Worldviews: Crosscultural Explorations of Human Beliefs (Third Ed).   Ã‚  Ã‚  Ã‚  Ã‚  Upper Saddle River, NJ: Prentice-Hall, 2000 Tindall, George. America: Brief 5th Edition.   Ã‚  Ã‚  Ã‚  Ã‚  NY, NY: Norton, 2000 Williams, Rev. Cecil. Interview with Dr. John K. Simmons. Beliefs and Believers:   Ã‚  Ã‚  Ã‚  Ã‚  University Park, Illinois: Governors State University, 1999

The Common Cold :: essays research papers

The common cold has been plaguing humankind since the beginning of human existence. Even in these advanced times, there is no vaccine or cure. There are many symptoms that accompany the common cold. Some of these infamous symptoms are a runny nose, caused by inflammation of the nasal tissues, resulting in over production of mucus to trap the virus, and coughing. there are two different kinds or types of coughs that are common with colds. The first, is the less common dry hacking cough, these kinds are more likely to keep you up at night and just plainly annoy you than do any thing else. The other more common type of cough is the kind whose purpose is to expel mucus and or phlegm. These help to combat the cold by helping to expel the mucus that has the virus trapped in it. Other symptoms include a slight tingle or tickle in the back of the throat that usually turns into a sore throat and sneezing. Both of these symptoms are was for your body to help expel phlegm or mucus from the body. Another symptom is swelling of the face and or neck usually accompanied by pain around the eyes, nose, and forehead. This pain and swelling is caused by the introduction of the virus into your upper respiratory tract, therefore causing mucus building up in your nasal passages and then in your sinuses causing them both to become impacted. Many people complain of hoarseness, aches and pains in their joints, fever of about 101 degrees, and general aches and pains all over their bodies (Anthanasoid). There are at least two hundred different kinds of viruses that are known to cause what is known as the common cold, and an unknown number of undiscovered causes (Nourse 56). The virus who is usually responsible for a cold is called a rhinovirus, and it accounts for around thirty to fifty percent of all colds that afflict the adult part of the human population. The virus that is secondly responsible for most common colds, is called a coronavirus, and it is only different form a rhinovirus by a margin of few select proteins in it's molecular structure. The rhinovirus is so small that it can only be measured in milimicrons, one milimicron is about 1/25,000,000 of an inch, that means that about five hundred rhioviruses can fit on the point of a pin. That fact makes the rhinovirus and the coronavirus categorized in the medium territory. The virus cannot reproduce by itself. In fact scientists cannot even decide whether to classify it as an animal or a plant, because it is so primitive. To reproduce, the virus must first latch onto a nearby cell and inject it's genetic makeup into the

My Own Understanding Of Politics :: essays research papers

My Own Understanding of Politics   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"A means by which individuals and interest groups compete to shape government’s impact on society’s problems and goals.† Politics is easily defined. It is the concept behind the words that is more difficult to understand. Though politics is the primary method of communicating with government, this is not the only time politics are used. Immediate, individual interests, wants, and needs must be satisfied, as well as societal problems. The pursuit of interest is the purpose and initiation of political behavior.   Ã‚  Ã‚  Ã‚  Ã‚  The moment an individual actively pursues an interest or works toward the completion of a goal, it is projected outside him. For example, a person is shopping for a car. The situation is no longer individual because he cannot achieve his goal of obtaining a new car alone; another person or dealership must make the car available to him. Because the person selling the car also has a goal, there is interplay of interests, and the implications of politics.   Ã‚  Ã‚  Ã‚  Ã‚  Negotiation over a car, or anything of interest involves a distribution of attention from one side to another. Just as a car has a seller and a buyer, the government has different political parties, and each issue has a group for and against it. Gaining cooperation from the other side requires strategy.   Ã‚  Ã‚  Ã‚  Ã‚  Tactics used range from peaceful, including persuasion and civil disobedience, to violent. But the expectation of reward and the actual probability of reward essentially dictate political action. Rewards are both individual and societal. Power and the ability to control motivate our political leaders. Desire for wealth fuels citizens and the economy. Skilled citizens are represented in the technologically advanced Japanese population. Enlightenment comes from an educated society. Health is invaluable to everyone, and to society when average life spans increase. And finally, respect, morality, and affection are the values that make up a person’s essence. Government is just as involved in the distribution of rewards and the claiming of values as individuals. Its leadership is the nucleus of society. The government allocates resources (money), deciding the fate of such programs as Medicare and welfare reform and the means, usually tax dollars, to pay for these programs. Government is the goal-attaining unit, and its decisions reflect those goals. The government is responsible for building a foundation now to prepare for the future. These decisions for the future are some of the most difficult ones to make.

Causes of Criminal Behavior

In today’s time, deviance and crime plaque American society. There are vast degrees of deviance, from a simple shoplifter, to a car thief, to a killing machine with no conscience, otherwise known as a serial killer. How is this killing machine created? Where and how does this type of criminal behavior begin? The answers to these questions must be addressed in order to stop the formation of deviance. While searching for these answers, the nature vs. nurture is brought up. Scientist and psychologists have debated over whether a child’s upbringing forms their behavior or whether they are born with a personality disorder, or could it be their body type and brain set up? (Jones 1) Society may never truly know all the causes of this behavior but for now, they wrong upbringing can, without a doubt, increase the chances of violent behavior. It has been said for years that ones parents are the base to make someone the person they become as an adult. Parents are a young child’s role model, but as we grow older we start to have other influences in our lives. People such as our friends, teachers, and other family members are considered to be part of our outside environment. In today’s time we are seeing less nuclear families and more single parent households. (Waggoner 30) Kimberly J. Waggoner did a study called, â€Å"The Project of Human Development in Chicago Neighborhoods† which followed 80 young kids, till the age of 30, to see what kind of an impact their childhood had on them as an adult. She found that without two reliable role models, it can make a difference in that child’s behavior. Waggoner 30) She makes a great point that, â€Å"Grandmothers often play an important role in preventing children from developing antisocial behavior, especially those children born to teen mothers. In essence, children with access to extended family and other role models can thrive in a single- parent home. † She also goes on to say, â€Å"Yet, some studies have found that boys raised by their birth mother and a stepfat her are no better off than boys raised by mom alone. † (Waggoner 30) The cause of this could be that the boys look at their stepfather as competitors, rather than role models, who normally help children develop their self-esteem. Boys need to have that male role model in their lives. Without a solid home environment, it could lead a child towards the first step to criminal behavior, which is delinquent behavior. It starts as young as preschool. The child shows aggressive behavior toward their peers, and is than deemed as an outcast. Most times, this creates poor peer relations and causes those children to b e with others who share similar behaviors; usually these relationships continue into adolescents and maybe even adulthood. Waggoner 28) A child’s environment and upbringing has a tremendous effect on who they become as an adult. â€Å"As an adult, we can choose the environment in which to live, and this will either positively or negatively reinforce our personality traits†¦ However, children are limited to the extent of choosing their environment, which accounts for the greater influence of environmental factors in childhood behavior,† says Caitlin Jones, a professor at the Rochester Ins titute of Technology. Jones 4) Even though all these things can cause criminal behavior, they are not the only causes. Parents could be great and do almost everything right and still have a criminal child on their hands. It is a great question they may never be answered, what makes some people commit vindictive criminal acts, while others could not even kill a fly? We may never truly know the answer but, there are plenty of theories on the brain of a criminal. An Italian psychiatrist by the name of Cesare Lombroso has done countless studies of the skulls of criminals and found, â€Å"†¦ each type of crime is committed by men with a particular physiognomic characteristics, such as a lack of a bred or an abundance of hair†¦Ã¢â‚¬  (Rafter 69) In 1876 during an in depth study, Lombroso discovered most skulls of criminals were unusually small or malformed. Some of the skulls had a median occipital fossetta, and others had â€Å"monkeylike anomalies†. (Rafter 70) Criminals are said to look like everyone else, but there are little differences that to the normal person, go unnoticed. So they really do not look a whole lot different than the rest of us, yet they are still thought to be â€Å"backward intellectually compared to an honest man. †(Rafter 69) Another theory behind the criminal mind was brought up in the late 18th century by a German physician named Johann Gasper Spurzheim, and he came to what he thought, was an inescapable conclusion, â€Å"†¦ on the basis of numerous examples I have identified the primary cause of homicide, overdevelopment of the organ of Destructiveness, which is the seat of both negative and useful forms of destruction†¦It is commonly larger in men than women. (Rafter 78) Crimes are committed everyday; there are so many theories on the causes of crime one could talk about them for days. I believe both Lombroso and Spurzheim had great points; criminals are considered to be backward, which causes them to be vain, vindictive, remorseless, and undeterrable. Than, Spurzheim, believing in his organ of Destructiveness. Th ere is just one thing wrong with both of these theories; they leave out the women criminals. Men may be considered to be more physically violent than women but, they are just as capable as men at committing a violent act. Take the case of Andre Yates: in 2001, she systematically drowned her five children in a bath tub. Andre married a man by the name of Rusty Yates in 1993, and than she became pregnant six times in seven years, one ended in a miscarriage. Rusty insisted that Yates home school and take full care of the children herself. This placed heavy burdens on her and isolated her from social support. In early 2001, Andre lost her father and was prescribed antipsychotic drugs, she had her last child and went into postpartum psychosis. After drowning the children, Yates confessed she was not a good mother and was possessed by Satan. (Rafter 6) All the burdens of schooling, caring and cleaning up after five children can drive some mothers crazy. She could not handle all that stress than, after the trauma of losing her father, and having another baby, Andre Yates finally snapped. She is now incarcerated in a mental hospital. Cesare Lombroso also studied women criminals. He compared female offenders to their male counterparts and found â€Å"the few violent women exceed men in their ferocity and cruelty. (Rafter 71) Of course, there are far more crimes that are committed by men than women, yet women should not be eliminated from the world of crime. A criminal is a criminal, regardless of gender. Why do some offenders only commit one crime and others make a career out of it? A range of thoughts and theories exist. Some of those include: Kimberly Waggoner and all her ideas of childhood causes, outside environment, and our upbringing, Caitlin Jones and being able to choose our own environment as an adult to stop potential criminals. Also important are those of Nicole Rafter and the criminal brain, along with Lombroso, on women criminals and their male counterparts. Criminal behavior has been the subject for debate for centuries and will continue to be for centuries to come because, â€Å"Criminals are remorseless, incapable of resisting impulse to harm others, and morally savage, but in other aspects normal. † (Rafter 20) Hopefully, with all the knowledge we have and the studies yet to come, it will help to end the frustration that criminal justice psychiatrist experience while trying to fight crime, instead they will be able to understand, control and prevent crime.

Introduction of Aeon Essay

Aeon CO. (M) BHD was incorporated on 15 September 1984 in response to the Malaysian Government’s invitation to Aeon Japan to help modernise the retailing industries in Malaysia. Nowadays, Aeon CO. (M) BHD is a leading retailer in Malaysia with a total revenue of RM3.26 billion for the financial year ended 31 December 2012 and it is well established among Malaysians as well as foreigners, especially due to its association with the international Aeon Group of Companies. The Aeon Group of Companies consists of Aeon Co., Ltd. and about 200 consolidated subsidiaries and affiliated companies. Not only focus on its core GMS, supermarkets and convenience store operations, Aeon is also active in specialty store operations and shopping centre development, operations, credit card business and services. Although Aeon Group of Companies is an integrated Japanese retailer, it is active throughout Southeast Asia and China but not just in Japan. As a leading chain of General Merchandise Stores (GMS), Aeon designs a constant interior refurbishment of stores to satisfy the ever changing needs and desires of consumers. The management’s acute understanding of target market needs and the provision of an optimal product-mix has also further enhanced the company’s performance. In order to cater to Malaysia’s vast middle income group, Aeon stores are mostly situated in suburban residential areas. Besides ,Aeon activities are guided by its unchanging ‘Customer First’ philosophy at all the times and it aims to surpass expectations by combining excellent products with unique personal services that enhance the shopping experience to make customers smile whenever they are shopping in Aeon.