Why Marijuana Should be Legal Essay Example | Topics and Well Written Essays - 500 words

Why Marijuana Should be Legal - Essay Example The evidence demonstrates that legalizing cannabis for medicinal in addition to general purposes would prove a benefit to society, evidence which is well-known throughout the scientific, political and public arena but this collective knowledge has yet to be acted upon. The economic feasibility of decriminalizing marijuana has become a much-discussed subject in recent years. The federal government presently spends a lot of capital on law enforcement to combat distributors and producers of drugs. By legalizing drugs this could eradicate much of the profit, bloodshed and corruption of that trade. If legalizing drugs is to have a positive effect on the crime rate, drugs must be made both inexpensive and available. Studies have repetitively suggested that prohibiting marijuana in the U.S. has not shown to be efficient or effective. According to the Drug Policy Alliance, â€Å"U.S. The economic feasibility of decriminalizing marijuana has become a much-discussed subject in recent years.   The federal government presently spends a lot of capital on law enforcement to combat distributors and producers of drugs. By legalizing drugs this could eradicate much of the profit, bloodshed and corruption of that trade.   If legalizing drugs is to have a positive effect on the crime rate, drugs must be made both inexpensive and available. Studies have repetitively suggested that prohibiting marijuana in the U.S. has not shown to be efficient or effective.  Ã‚  

Marketing Plan Research Paper Example | Topics and Well Written Essays - 500 words - 1

Marketing Plan - Research Paper Example When different business enterprises target the same markets within a given industry, competition intensifies. This is the scenario observed in the coffee houses industry. While players are many in number, the target market is relatively the same. As a result, each coffee house must move swiftly and strategically to lure consumers into buying its products, thereby building a market share within the industry. Depending on how the captured market share is managed, it can increase or decrease with time. Tim’s Coffee Shoppe competes intensively with Queequeg’s Coffee among other coffee houses. The above aspects apply to Tim’s Coffee Shoppe operations in the coffee houses industry. Tim’s Coffee Shoppe has to manage its clientele in a way that ensures Queequeg’s Coffee or any other coffee house does not win it through competitive practices. This implies that coffee houses operating in the same industry engage one another in intensive competition that could see one lose its customers to another based on the customer satisfaction factor. The 4 P’s of marketing inform the marketing practices of many business enterprises across the globe (Pride & Ferrell, 2012). Tim’s Coffee Shoppe operates in a highly competitive environment, where players are many and competition cannot be price-based only. To ensure that Tim’s Coffee Shoppe remains competitive over its rivals, the adopted marketing strategy must critically account for the 4 P’s of marketing. The surveys presented in the filing cabinet highlight the operational strengths and weaknesses of Tim’s Coffee Shoppe. The 4 P’s of marketing can strategically be applied to the survey information for the purpose of redesigning and revolutionizing the Tim’s marketing strategy. The product is highly rated by majority of customers. However, the shortcomings noted by a few should be used to enhance

The Four Main Sources Of Islamic Law Religion Essay

The Four Main Sources Of Islamic Law Religion Essay Abstract: This chapter deals with the four main sources of Islamic Law. Its goal is to introduce some of the prevailing concepts of Islamic thought and to analyse the different disciplines and opinions that shape the practice of Islam today. It is known that there are four Muslim schools of thoughts. However, each differs in their interpretations . The primary sources, accepted universally by all Muslims, are the Quran and the Sunnah. It is however, in fields that they are silent that the secondary sources are to be used, thus the Ijma (consensus of opinion of scholars) and the Qiyas(laws derived through analogical deduction -analogy). Introduction: In the eighth century, a difference in legal approach arose amongst Islamic thinkers in two prevailing schools of thought. The traditionalists (ahl al-hadith) relied solely on the Quran and the Sunnah (traditions) of the Prophet as the only valid sources for jurisprudence, emanating from Medina. The non traditional approach (ahl al-ray) relied on the free use of reasoning and opinion in the absence of reliable ahadith, heralded in iraq . The difference in technique is because in Medina, there was an anundance of reliable ahadith that scholars could depend from, since the prophet lived the 1o yrs of his life there. On the other hand, the non traditionalist jurists had to depend on analogy as the sources were not as reliable in Iraq. The jurists had therefore to decide which of the Prophets actions and decisions were religiously binding and which were a mere function of his personal discretion. In general, the traditionalists eventuallt lent legislative significance to much of the Prophets decisions, where as the other school of thoughts tended to distinguish between the various roles that the Prophet played in his life. The sources of Islamic law was thus,Quran, Sunnah , ijma and qiya Throughout history these sources wereused in descendind order by muslim jurists in determining the legality of an issue. If the legality was not based on an explicit command in the quran, then the jurists would turn to the explicit commands in the hadith. Quran is the religious text of Islam. It is believed to be the word of God transmitted through the Prophet Muhammad.  [1]  The Sunnah is considered to be the religious actions, quotations and approvals of the Islamic Prophet Muhammad, which was narrated through his Companions and Shia Imams. The Quran and the Sunnah state clearly the course of action that a Muslim should follow. Quran The Arabic word Quran is derived from the root qaraa, which means to read or to recite. Quran is the holy book of Islam. Muslims  believe that the Quran is the final revelation of Allah, that is, the literal word of God, revealed to the Prophet  Muhammad. The Quran was written and preserved during the life of Muhammad, and compiled soon after his death. The Quran consists of  114  surahs  (chapters) with over 6,000  ayat,(verses). However the exact number of ayat is disputed due to different methods of counting. The Quran is the first and most important source of Islamic law. The scripture specifies the moral, philosophical, social, political and  economic  basis on which a society should be constructed. Muslim jurists agree that the Quran in its entirety is not a legal code; rather its purpose is to lay down a way of life which regulates mans relationship with others and God.  The verses of the Quran are categorized into three fields: science of speculative theology, ethical principles and rules of human conduct. The third category is directly concerned with Islamic legal matters which contains about five hundred verses or one thirteenth of it. The task of interpreting the Quran has led to various opinions and judgments. The interpretations of the verses by Muhammads companions for Sunnis and  Imams  for Shias are considered the most authentic, since they knew why, where and on what occasion each verse was revealed. The sharia, foundations of Islamic law, are derived from verses from the Quran. The bulk of Quranic matter consists mainly of broad, general moral directives as to what the aims and aspirations of Muslims should be, the ought of the Islamic religious ethic. The most important external aid used in interpreting the meanings of the Quran is the  Hadith   the collection of Islamic traditions from which the details of early Islamic history are derived. The Shariah, foundatiosn of Islamic law, are derived from verses from the Quran. The Quran consists mainly of broad general moral directives that provide for the aims and objectives of a muslim. Essentially(#) because the directives are so broad, interpretation takes on a significant role, there have been so many different interpretations of the quran, claims widely read and revered Islamic thinker Abdul Aala Maududi that there is hardly to be found any command with an agreed interpretation. Nevertheless, the authenticity of quran has never been questioned by any muslim scholar or institution. Textual Criticism and the Quran Higher biblical criticism revolutionized Judaism and Christianity by calling into question long-held assumptions about the origins of the Bible; some ambitious textual critics are attempting to do the same for the Quran. They claim that parts of the Quran are based on stories of the  Tanakh  (Hebrew Bible), the  New Testament  of the  Christian  Bible, and other non-canonical Christian works; differences of the biblical to the Quranic versions suggest to some scholars that these stories were not taken directly from written texts but seem rather to have been part of the oral traditions of the Arab peninsula at Muhammads time. To Muslims, however, this explanation is topsy-turvy: the non-canonical Jewish and Christian stories are simply further textual corruptions of an otherwise nearly lost divine original reflected in the Quran. These critics also seek to find evidence of text evolution and transcription disputes in early Islam; the results have been meager, but some have expressed hopes that recent discoveries of Quran Graveyards in Yemen will throw more light on the subject. Belief in the Qurans direct, uncorrupted divine origin is fundamental to Islam; this of course entails believing that the Quran has neither errors nor inconsistencies. (This is the book in which there is no doubt, a guide to the believers: Surat  al-Baqarah, verse 2.) However, it is well-known that certain chronologically later verses supersede earlier ones the banning of wine, for instance, was accomplished gradually rather than immediately and certain scholars have argued that some verses which discourage certain practices (for instance,polygamy) without banning them altogether should be understood as part of a similar process, though others argue that this contradicts This day have I perfected your religion for you, completed My favor upon you, and chosen for you Islam as your religion (5.3). As to the basic message of the Quran, there are three fundamental points, repeated and restated throughout the work. They are as follows: this present physical life is a test; the afterlife is certain; our actions in this present life have consequences in the next. 1.2 Sunnah The Sunnah is the second source of Islamic law. Sunnah is an Arabic word which means Method. It was applied by the Prophet Muhammad as a legal term to represent what he said, did and agreed to. Its authority is derived from the text of the Quran. The Quran says, For you the life of the Prophet is a model of behaviour  (Al-Quran 33:21) Many of books of traditions were compiled by the companions of the Prophet. These were later on incorporated in the great collections of Hadith (i.e. traditions) of Bukhari, Muslim etc. The collectors of the traditions adopted a very scientific system in collection the Traditions. They did not record any tradition except with the chain of narrators. Every tradition gives the names of the last narrator of the tradition from whom he learnt the tradition and so on back to the Prophet or Companion of the Prophet. The Sunnah which is established through reliable narrators is fully dependable as legal element. The sunna of the Prophet generally means tradition and includes the following three categories: sayings of the Prophet; his deeds; and his silent or tacit approval of certain acts which he had knowledge of. The record of the Prophets words and deeds were recorded in narrative ahadith, reports that were transmitted before finally being compiled in authoritative collections decades after the death of the Prophet. Muhammad brought the Quranic teachings ti life through his interpretation and implementation. The Quran and Sunnah are complementary. The meaning of the Quran is general in nature, the Sunnah makes it specific and particular. The Sunnah explains the instructions of the Quran. The Quranic injunction is sometimes implicit, the Sunnah makes it explicit by providing essential ingredients and details. Ijma and Qiyas derive their value or authority from the Quran and the Sunnah. Therefore, they are called dependent sources. 1.3 Ijma The third source of law, Ijma or the consensus of scholars signifies the importance of delegated legislation to the Muslim community. The Muslim society requires such a rule making power to meet the practical problems for the implementation of Islamic Shariah (Islamic Law). Ijma has been technically defined as the consensus of the jurists of a certain period over a religious matter. Ijma is considered a sufficient evidence for action because the Prophet if Islam said, Muslim will never agree on a wrong matter. As such the agreement of the scholars of Islam on any religious matter is a source of law in Islam (Ref: Principles of Islamic Jurispredence by M. Hashim Kamali). Ijma or unanimous agreement Ijma constitutes the unanimous agreement of a group of jurists of a particular age on a specific issue and constitutes the fourth and final source of law in Shafiis methodology. If questions arose about a Quranic interpretation or an issue where no there no guidance from either the Quran or sunna, jurists applied their own reasoning (ijtihad) to come to an interpretation. Through time, one interpretation would be accepted by more and more doctors of law. Looking back in time at the evolved consensus of the scholars, it could be concluded that an ijma of scholars had been reached on this issue. 8 Unfortunately, unanimous agreement rarely happened among intellectual elite and since there were always diverse opinions, one could always find several scholars of the day who concurred on an issue. Also, the definition of ijma and which ijma would be considered valid was a point of contention, because ijma is not simply the consensus of all past jurists. Besides, using the concept of ijma po ses the problem of having to look to the past to solve the problems of the future, and scholars of yesteryear didnt wrestle the same issues that are challenging Muslims today. 1.4 Qiyas or analogy qiyas, is the fourth important source of Islamic law, is reasoning by analogy. In order to apply qiyas to similar cases, the reason or cause of the Islamic rule must be clear. For example, because the Quran clearly explains the reason that consumption of alcohol is prohibited (because it makes the user lose control of his actions), an analogy can be drawn to drugs which induce the same affect. But because the Quran does not specifically state the reason why pork is prohibited, Muslims cannot justify banning another meat product with a similar cholesterol level, etc. The use of analogies greatly varied among scholars; for example, Spains Ibn Hazm (10th century) who was formidable proponent of the Zahiri school, rejected the use of qiyas, whereas Imam Abu Hanifa of the Hanafi school (8th century) applied them extensively. Qiyas or analogy is resorted to in respect of problems about which there is no specific provision in the Quran or the Sunnah of the Prophet. In such issues, the scholars have derived law through analogical deduction on the basis of the provisions of the Quran and the Sunnah on some similar situation. The scholars have developed detailed principles of analogical deductions or Qiyas in the books of Islamic jurisprudence. Qiyas is a kind of Ijtihad. The Prophet has permitted Ijtihad which literally means to exert. Technically it means to exert with a view to form an independent judgement on a legal issue. Ijtihad is the Islamic method of facing the new situations and problems in the light of the general principles of the book of Allah SWT), the Quran and the traditions of the Prophet or the Sunnah. Apart from Qiyas, there are other methods of Ijtihad such as Istihsan (that is the juristic preference from different interpretations) and Masalaha (that is moral consideration). In addition to the above sources, the practices of the Khulafa-e-Rashidun (the first four rulers of Islam), the decisions of the judges and the customs of the people are also considered sources of Islamic law in matters which are not spelled out in the Quran and the Sunnah. Conclusion: However the traditions of the prophet have been questioned for their authenticity. It was also debated as to what extent were the traditions religiously imperative(look for word). The use of analogies was greatly debated. Also there was little unanimous agreement among the Islamic scholars about the inexplicit issues.

Panic Essay -- Personal Narrative Writing

Panic We loaded up the car and headed out to Route 30. I had made this trip several times before, but this time it was one way. I had been excited to—as I saw it—get on with my life, but this day I was feeling less than enthusiastic. I figured it was the hassle of moving: this would be the second time my parents and I had transferred my things from home to a dorm room. This time my sister was along to lend a hand. We finally pulled up to the institutional-style brick building that was to be my home for the next three years. The August weather was typically hot and humid, but looking at the dormitory’s stark exterior, I suddenly felt a chill. As we entered the stuffy structure—it had no air conditioning—all my thoughts became focused on the many trips we would have to make up and down the three flights of stairs. Once a sufficient number of boxes were in the small room, I began to unpack while my father made the remaining trips to the car. As I arranged my new personal space, I forgot any reservations and actually became rather energized. My roommate had not yet arrived, and my sister and I joked and laughed while we hung photographs and relived the events they depicted. When the mysterious roommate finally made her entrance, the room fell silent. I have never been comfortable with new people, and we were from such different backgrounds that I could find no commonality to unite us immediately. It would simply take time, I had decided, and that was something of which I assumed we had plenty. Since I was almost done with my side of the room, and my roommate and her parents were not exactly chatty, my family and I decided to go out for dinner before they made the return trip. We went to a nearby restaurant, though we di... ... to the sink, but I could not bring myself to look in the mirror. I washed my face again, sipped some water from my cupped hand, and shakily returned to my room. At some point in my stupor, I had decided to call my mother at six o’clock, when I knew she would be waking up for work. I found my phone card and made another trip to the end of the hall, this time to the pay phone. I felt so low I could have been slithering across the floor. I had to tell her exactly what I had just been through, and that she had been right: I was not ready to go away again. I would have to return home with my tail between my legs and face something that I had always had trouble admitting: I needed help. I never wanted to spend another night like the one I had just endured. At the time, I still had no idea what had happened to me, but I will never forget that first and worst panic attack.

Folk Art

Authors wanted to how their pride in their culture by strengthening their identity as a black insist dead of imitating the way whites wrote. The Creation states,† God thought and thought, till he t Hough: I'll make me a man! † This is an example Of an author using dialect to show their pride f or their culture. Homesick Blues states, â€Å"Homesick blues, Laid, ‘S a terrible thing to have. † HTH s quote also shows pride in his culture because of the fact that he is writing about being h mommies using dialect. Black Authors would often criticize those who mimicked white literature.The eye believed they could show pride by continuing to speak and write in African American dialect in order to celebrate the lives of African Americans. While some authors though writing n their own dialect was not traditional, African Americans began writing folk art. This raise d awareness of the culture and enabled authors to write their story as slaves in their own dial etc. Lon gs Hughes once said,† no great poet has ever been afraid Of being hi myself. † He shares that opinion with other authors who illustrate folk art.These writers the ought the best ay to show racial pride was to create folk art. Homesick Blues states,†Ã¢â‚¬ ¦ Look in' for a box car to roll me to De South†. This excerpt shows the author's love for him home in t he south just like any average man would. Pop' Boy Blues states, † when was home De Sunshine seemed like gold. Since came up North De whole damn world's turned cold. † This is another ere example of an average everyday man missing his homeland and being treated differently in an unfamiliar place. The Great Migration was the moving of African Americans from the South to the North.They opted moving would leave racial discrimination in the south and hoped to fin d new opportunities up North. Harlem population Of African Americans rose from 1 O percent in 191 0, to 98 percent in 1950. This heighten ed the number of black owned buss nesses making Harlem a symbol of African American self sufficiency. Thus creating a time of great racial pride for African Americans. Their pride in the culture then became a major t home in their art and poetry. From then on in order to end racial discrimination, black artists b Egan creating high and folk art.

Anatomy and Physiology Essay

Define/Describe the following terms as completely and detailed as you can: 1. Inflammation- Inflammation is the bulging of skin, organs, or other body parts due to fluid buildup caused an injury. The fluid rushes to the injured area and that is what makes the puffiness. 2. High Fructose Corn Syrup- (HFCS) Composed of corn and lab chemicals. HFCS is found in processed foods such as salad dressing and soda. Your body does not recognize it as food so it shunts the HFCS to a fat cell and that is what causes weight gain. 3. The 4 parts of the vertebral column plus 1 â€Å"special† part- The four parts of the vertebral column are made up of twenty nine vertebrae each separated by an intravertebral disc which absorbs shock to the vertebrae. The first part is called cervical vertebrae, there are seven of them, they are the smallest vertebrae and they are at the top of your neck. The first of the cervical vertebrae is called the atlas and the second is called axis and it allows your head to turn side to side. Next are the thoracic vertebrae. The thoracic vertebrae are the next twelve under your cervical vertebrae. These vertebrae are larger and thicker than the cervical vertebrae. The next sets of vertebrae are your lumbar vertebrae which are the last five vertebrae in your lower back. Lumbar vertebrae are your biggest, strongest and thickest vertebrae. They need to be big and strong because they support the weight of your body. The sacrum is at the very end of your vertebral column. The sacrum is composed of five fused vertebrae. *Fun Fact: giraffes and humans have the same number of vertebrae.* The â€Å"special† part of your vertebral column is called the coccyx. The coccyx is located at the very end of your vertebral column. The coccyx has no real function. 4. Bone marrow and hemoglobin- Hemoglobin plays a big role in cellular respiration and oxygen supply. Hemoglobin carries oxygen. Bone marrow is a soft, netlike mass of connective tissue that is in the medullary cavities of bones classified as long bones. The marrow is housed in the spaces of the spongy bones. Spongy bone is most abundant in the proximal and distal epiphysis’s of a long bone.  There are two types of bone marrow, red and yellow. Yellow bone marrow stores fat and red marrow functions in the formation of red and white blood cells. Red bone marrow receives its color from hemoglobin because it stores oxygen which turns blood red. 5. The 3 layers of the skin- The integumentary has three parts; the epidermis is the outer layer and it lack blood, the second layer of skin is the dermis and it carries nutrients, the third and final layer of skin is called the subcutaneous layer and it is located under the dermis. The subcutaneous layer sits right Next to fat and it the most inside layer. 6. The 3 types of muscle tissue- Muscle tissue is broken down into three layers and a covering called fascia that covers everything. The first and most outside layer it called epimysium and it surrounds the muscle as a whole. The second layer of muscle tissue is known as the perimysium and it surrounds the bundles of muscle fibers. The final and most inner layer of muscle tissue is the endomysium and it surrounds each individual muscle fiber. 7. Type I and II muscle fibers- Smooth muscle in particular has two types of muscle fiber, multiunit and visceral. Multiunit muscle fibers are separated unlike visceral tissue that is made up of sheets and spindle shaped cells. Multiunit muscle fibers can be found in the irises of your eyeball and visceral tissue is common in hollow organ like the stomach. Cellular Metabolism 1. Explain the function of metabolism- Metabolism builds and breaks down particles. The main function of the metabolism is to synthesize, use and store energy. 2. Compare and contrast anabolism and catabolism- anabolism is the buildup of larger molecules from smaller ones which requires energy and catabolism is the opposite it breaks down large particles to produce energy. 3. Describe how energy in the form of ATP becomes available for cellular activities- Energy in the form of ATP is used for many cellular activities. To produce ATP, ADP has to combine with a third phosphate and that creates ATP for cellular activities such as glycolysis which is the first step in cellular respiration. 4. Describe the steps of protein synthesis- Information from DNA is transcribed into mRNA, which is messenger RNA, and then the mRNA is translated into a series of amino acids. The two steps are transcription and then translation. Integumentary System 1. Describe the structure of the layers of the skin- The epidermis is the top layer that you can touch and it lacks blood. Next is the dermis, the dermis carries nutrients and contains the hair follicles, it also contain your sweat gland ducts. The most inner layer of the skin is called the subcutaneous layer, it is not a true layer of skin but it helps to conserve body heat and it helps keep out unwanted heat from the outside. 2. Summarize the factors that determine skin color- Skin color is determined largely by melanin. Everyone has approximately the same number of melanocytes but genetics determine how fast and how much melanin the melanocytes produce. The more melanin you have the darker your skin is. 3. Describe wound healing- The wound and the area around it become swollen or inflamed due to fluid that leaked into the injured area. This is not a bad thing because it provides the area with more nutrients and oxygen which aids healing. If a break on the skin is shallow then the epithelial cells divide faster and the new cells fill the broken area. If the cut is deep into the dermis or subcutaneous layer to blood vessels form a blood clot and the dried tissue fluids help to form a scab. Cells work continuously to clear away dead cells and other remains and eventually it is all replaced with new cells under the scab and they scab will in time come off. If the wound is deep then extensive construction of collagenous fibers may create a raised portion of skin called a scar. 4. How can a person avoid developing skin cancer during their lifetime?- In order to avoid developing skin cancer a person should avoid exposing their skin to high-intensity sunlight, use sunscreens, examine skin regularly. 5. List two examples of modified sweat glands in the body and what they secrete- The two types of sweat glands are eccrine glands and apocrine glands. Eccrine glands secrete sweat that is carries through a tube called a duct and released at the surface of a pore. (Ex: Eccrine glands release the sweat that you feel on your palms when you get nervous.) The apocrine glands, become active when you hit puberty, secrete sweat as well but they release it when a person is emotionally upset, sexually aroused, scared or in pain. Sweat develops a scent when it interacts with bacteria. 6. What two specific properties of skin allow it to regulate body temperature?- In order to regulate body temperature the  skin needs to release heat as needed or conserve heat as needed. When the body becomes too hot it sends a message to your blood vessels to dilate and that allows blood to come in and heat to escape. When your body becomes too cold it sends a message to your blood vessels to constrict which does not allow heat to escape your body. Skeletal System 1. Explain how calcium levels are maintained in the blood and bone- Homeostasis of the calcium levels in bone is controlled by resorption and deposition of calcium into the bones. Also 3-5% of calcium in bones is exchanged each year. If you have less than 3-5% you would be a midget but if you have more than 3-5% then you would be a giant. Osteoclasts break down bone and osteoblasts build bone. 2. Explain why the shoulder joint and hip joints are more mobile than the finger joints- The shoulder and hips joints are ball-and-socket joints and are more mobile than your finger joints, which are condylar joints, because ball-and-socket joints are literally a ball like shaped bone that sits in a cup shaped cavity in anther bone. The placement and shape of these bones allows for rotation and movement on all planes. Condylar joints like the fingers are like puzzles everything fits together. But just like a puzzle you can bend them it but they don’t rotate. 3. List the active tissues in a bone- Bone tissue Cartilage Dense connective tissue Blood Nervous tissue 4. Distinguish between the axial and appendicular skeletons, and name the major parts of each- The axial skeleton consists of your thoracic cage which is your ribs, vertebral column, and sternum, and xiphoid process. The axial skeleton consist of your limbs(arms and legs), pectoral girdle(scapula and clavicles), and your pelvic girdle(coccyx, sacrum, ilium, ischium, pubis anterior and medial) 5. List six types of synovial joints, and describe the actions of each- Ball-and-socket- Movement in all planes and enables rotation. Condylar- Variety of movement in different planes but no rotation. Plane- Sliding or twisting. Hinge- Flexion or extension. Pivot- Rotation around a central axis. Saddle- Variety of movements, mainly in two planes. 6. List all 6 types of synovial joints and describe/explain each one. List one example for each- Ball-and-socket-Ball shaped head of a bone articulates with the cavity of another bone. (Ex: hip) Condylar-oval-shaped condyle f one bone articulates with egg-shaped cavity of another bone. (Ex: Phalanges. Excluding the thumb) Plane-articulating surfaces are almost flat or slightly curved. (Ex: carpals) Hinge-Convex surface of one bone articulates with a concave surface of another. (Ex: elbow) Pivot-Cylindrical surface of one bone articulates with the ring of bone and ligament. (Ex: vertebrae) Saddle-the surface of one bone fits the surfaces of another. (Ex: thumb) Muscular System 1. What happens to muscles when a weight lifter becomes sedentary? – when a weight lifter becomes sedentary his muscle mass is going to begin to decrease because he isn’t using them. His muscles are just going to keep shrinking and shrinking. This happens as quickly as two weeks. 2. Describe the sliding filament theory and steps of muscular contraction- Muscle fiber releases ACh. Protein receptors sense Ach being released. Green light (stimulus) is received by the sarcoplasmic reticulum. Signal to release Ca+. Ca+ is given to sarcoplasm. Ca+ interacts with your tropomyosin and triponin. Actin will â€Å"cross-bridge† (contraction) Ca+ returns to the sarcoplasmic reticulum so link is broken and muscle relaxes. 3. Describe the differences between slow-twitch and fast-twitch muscle fibers- slow twitch muscle give you the ability to do exercise for a  longer period of time because they fatigue slower and are efficient in the use of oxygen to produce more fuel or ATP. Fast twitch muscle fibers are good for fast bursts of exercise because they fatigue quickly and they can fire more rapidly than slow twitch fibers. 4. Identify the major parts of a skeletal muscle fiber, and the function of each- Myofibrils- they consist of actin and myosin and aid in the act of contraction. Myosin- Thick protein Actin- thin protein Sarcomere- units for muscle contraction -I bands- composed of actin -Z lines- 5. Explain how muscular contractions move body parts and help maintain posture-Muscle tone is a form of sustained contractions, which are contractions that occur even when we appear to be standing still. They keep our body upright a.k.a. posture. These contractions are responses to nerve impulses that come from the spinal cord and stimulate the muscle fibers to move. If our body loses muscle tone then we would collapse. Which is what happens when a person is unconscious. Nervous System 1. Describe the general functions of the brain stem- the brainstem is nervous tissue that connects the cerebrum to the spinal cord. The brainstem has three separate parts. Midbrain- reflex centers associated with the eyes and head movement. Pons- transmits impulses between the cerebrum and other parts of the nervous system. Also helps regulate breathing Medulla Oblongata- transmits all ascending (to the brain) and descending (away from the brain) impulses and contains several vital and non-vital reflex centers. 2. Why can a person still be alive even though they are â€Å"brain dead?†- You can still be alive and be brain dead it just means that your brain stem doesn’t work. When you are brain dead its like being in a coma. You can’t move anything or understand anything but you are still there. You would live in a hospital or have 24/7 monitoring and you would be living off tubes and wires. 3. Describe the coverings of the brain and spinal cord- the first layer of covering over the brain and spinal cord is dura matter. Dura matter is the outermost layer. It made up of tough, white, fibrous connective  tissue and contains many blood vessels and also nerves. The second layer is arachnoid matter. This matter is thin and does not contain many blood vessels and it lies right below the dura matter. The innermost layer and final layer is the pia matter. This matter is very thin and does contain many blood vessels and nerves to nourish underlying cells in the brain and spinal cord. 4. Name the cranial nerves and list their major functions- Olfactory- sense of smell Optic- vision Oculomotor- eye movement Trigeminal- controls facial expressions Vestibular- controls hearing and vestibular Glassopharengeal- controls tongue Vagus- longest nerve in the body Accessory- shoulders and neck movement Hypoglossal- tongue in speaking movement, swallowing, and chewing. Trochlear- eye movement Abducens- eye movement Facial- facial expressions Vestibulochlear- house hearing receptors 5. Distinguish between the sympathetic and parasympathetic divisions of the autonomic nervous system- The sympathetic division are your fight or flight responses. If you are getting cornered in an ally you a have a set of responses that you may put forward. This division acts under stressful situations. The parasympathetic division is your responses for normal situations. This division activates under normal situations. The Senses 1. Describe how the sense of pain is produced- free nerve endings on your skin pick up stimulating from sensations of pain and send them to the brain. There are two different types, touch and pressure is contact to the surface of the body and deep pressure senses are impulses from pain in the internal tissues. 2. Explain the mechanism for smell- the olfactory nerve is the nerve in your body that controls the sense of smell. Your sense of smell is a chemoreceptor so it picks up and reacts with the chemicals that you smell. 3. Explain the mechanism for taste- Taste is also a chemoreceptor. The organs of taste are located in the papillae, which are otherwise known as your taste buds. You have 5 different taste cells, sweet, umami, bitter, sour, and salty. In order to taste the chemicals in food your saliva has to break down the chemicals and release them before your papillae picks up on the taste. 4. Name the parts and explain the functions of the outer, middle, and inner part of the ear-The outer ear is made up of our auricle and the external acoustic meatus. It simply picks up sound and funnels sound into the next part of the ear, which is the middle ear. The middle ear is made up of the tympanic cavity otherwise known as the eardrum. The ear drum is made up of three auditory bones in which the vibration pass through and create the sound that is sent to the inner ear where the auditory cortex interprets the sensory impulses. 5. Distinguish between static and dynamic equilibrium- static equilibrium senses when the head is still and maintains balance throughout and dynamic equilibrium senses when the body and head are moving and tries to maintain balance. Endocrine System 1. Explain how insulin and glucagon work together to regulate blood levels of glucose- Glucagon and insulin work against each other in the regulating of blood sugar. Glucagon stimulates the liver to break down glycogen and convert some noncarbohydrates, for example amino acids, into glucose to raise the blood sugar. Insulin on the other hand does the exact opposite. Insulin stimulates the liver to form glycogen from glucose. Also, the secretion of insulin encourages transport of amino acids into cells, increases the rate and time of protein synthesis, and stimulates adipose cells to synthesize and store fat. 2. Distinguish between endocrine and exocrine glands- the exocrine glands secret hormones into ducts and the endocrine system secretes hormones into body fluids. The Endocrine system has 5 parts, the pituitary, thyroid, parathyroid, adrenal, and pancreas. 3. Name and describe the major endocrine glands and list the hormones they secrete- Pituitary- hormones: pituitary gland which is at the base of the brain and it controls all hormones, the growth hormone uses carbohydrates at a faster rate in order to make your body grow, next is the thyroid-stimulating hormone which controls the secretion of hormones from  the thyroid but the hypothalamus controls the release of TSH, last is the anti diaretic hormone which forces the kidneys to conserve water. Thyroid- the thyroid gland is made up of follicles that store hormones and it is located in the neck. The thyroid gland releases Thyroxine and triiodothyronine, which increase the metabolic rate of cells, enhance protein synthesis and stimulate lipid operation. Parathyroid- secretory cells that contain capillaries. The parathyroid gland secretes the parathyroid hormone, which increases blood calcium and decreases blood phosphate ion levels. Adrenal- made up of the adrenal medulla, which secretes epinephrine and nonrepinephrine. The sympathetic division of the autonomic nervous system controls the secretion of these hormones. The adrenal cortex also makes up the adrenal gland and it produces a number of steroid hormones such as aldosterone, and cortisol, and adrenal sex hormones. Pancreas- the pancreas secretes digestive juices and hormones. The pancreas is attached to the small intestine and it secretes glucagon and insulin. (See number 1) 4. Describe how the body responds to stress- Stress is caused by a threat to the maintenance of homeostasis. The hypothalamus controls the stress responses. These responses include your fight or flight responses such as raise in blood sugar, glycerol and fatty acids. Increased heart rate, blood pressure and an increase in the breathing rate, increase in epinephrine from the adrenal medulla (See answer 3). Digestive System and Nutrition 1. Identify each of the organs/structures of the digestive system and discuss how the function of each one contributes to the digestive process- Mouth- aids in the mechanical break down of food. This process begins digestion. Salivary glands- release an enzyme called saliva which begins the chemical digestion of food and produces the taste also. Pharynx- pushes food to the esophagus. Esophagus- pushes food the stomach Stomach- when the stomach receives the food from the esophagus it mixes it with juices and begins the protein digestion then to is sent to the small intestine. Small intestine- takes out the nutrients from the food and moves the waste to the large intestine. Large intestine- reabsorbs water to form feces. 2. Name and describe the many negative health effects and diseases associated with corn syrup/high fructose corn syrup consumption- Obesity- excessive weight gain is a result of the increase in consumption of HFCS. Your body cannot recognize HFCS as a food so it shunts it to a fat cell and you eat more because you don’t know your full. Liver- fructose can only break down in liver so it makes your liver fatty which can lead to diabetes Diabetes- high or low blood sugar in this case high because you consume so much FAKE sugar that your body secretes it into your blood because it doesn’t know what else to do with it. 3. In class, I used ketchup and processed-peanut butters as an example that not many people know contain corn syrup and high fructose corn sugar (among other sugars). List 4 products that contain corn syrup/high fructose corn syrup that would ‘trick’ a consumer- Bread Barbecue sauce Good (supposedly) cereals even ‘Special K’ Crackers Hamburgers

Disney case Essay Example

Disney case Essay Example Disney case Essay Disney case Essay Executive Summary The Walt Disney company is based in Burbank, California and is a diversified international company. It is well known for its business divisions in entertainment motion picture, TV, consumer products as well as various real estate projects. In 1984, Disney and its subsidiaries posted outstanding results, as consolidated revenue increased by almost 27% to $1. 7 billion and net income increased 5% to $97. 8 million. In addition, Disney has also grown through acquisitions: assets have increased 15% to $2. 7 billion in 1984. In this case, we attempt to solve Disneys dilemma with Tokyo Disneyland. Tokyo Disneyland opened in April 1983 and Disney has been receiving pergola royalty receipts In exchange Tort use AT I TTS Dragon. I en problem Is Tanat Wendell ten royalty receipts are denominated in Yen, the Yen has been experiencing a trend of depreciation, which erodes the receipts values. Disney has begun work with Goldman to figure out the best way to hedge the exposure, as well as to acquire the cheapest cost of financing. Our analysis suggests that Disney should accept the method proposed by Goldman Cash, where it would issue an Echo-denominated bond and then enter into a currency swap. This would lower the cost of borrowing. Details of our analysis are presented in the rest of case. Introduction As indicated previously, the chief problem for Disney is how to hedge its exposure to a depreciating yen, which would decrease the value of the royalty receipts. As indicated in the case, in 1984 the spot Yen/$ rate is 248, which is almost an 8% depreciation from Just a year ago. To make matters worse, the receipts are expected to grow at 10%-20% per year over the next few years, which would further increase Disneys currency risk. There are numerous methods a company can hedge currency sis, such as through FIX forwards, futures and swaps. In particular, we will explore Goldman Cash proposed method way of entering into a foreign currency swap. This would create a Yen liability, which would allow Disney to pay out its Yen receipts and not worry about their depreciating value. Before we discuss the currency swap, lets first walk through all the options Disney has at its disposal. Disneys Options While there are many different methods of hedging, we should look into the cheapest option. We will look into methods such as 1) futures/options, 2) forwards, 3) WAP, 4) bank loan and, finally, 5) the combination of an ICE bond issuance a subsequent Acumen Swap proposed by Goldman Cash. 1) Futures/Options: FIX futures and options are the conventional methods of hedging, since they are market- priced and have high liquidity. The values of these futures and options contracts would theoretically offset gains losses of the Yen royalty receipts and thus hedge currency risk. Unfortunately, according to the case, the liquid options and futures contracts only existed for maturities of two years or less. This would not work out for Disney, which would need hedging for receipts beyond Just two years. 2) Forwards: The other method to hedge would be forwards. Forward options are not exchange- traded and are thus much less liquid. This can be observed via the Bid/Offer chart in the case, which provides rates for Yen Long-Dated FIX Forwards. The liquidity can be seen through the wide Bid-Ask offer spread, especially in longer maturities (e. G. Spot spread is 90 basis points, versus 460 basis points for 5-Year contract). Clearly, Forwards suffer the same liquidity problem as Futures/Options: only short-term trusties have acceptable rates, but Disney needs medium to long term hedges. Not to mention, FIX Forwards would be perceived by banks as risky and thus tie up Disneys credit lines, which are needed for daily operations. 3) Foreign-currency Swap (Swap Only): On the surface, this would work in Disneys favor because it can be customized to cater to Disneys needs (e. G. Longer maturity). Its also a method it has attempted before, in the previous year. Unfortunately, the swap would also only be short-term, since the current Arteriolar debt on Disneys balance sheet all mature in en to four years. Disney also believes that attractive swap rates for maturities less than four years were hard to find in the market. In addition, due to Disneys most recent Arteriolar issuance and high Debt/Equity ratio, Disney could not issue a long- term Arteriolar Dona (ten market would flew It negatively). Not to menthol, a swap would not provide additional funds to Disney, as it would only swap the interest payments. Disney was looking for additional funds to pay down some of its short- term liabilities the swap alone would not accomplish this goal. 4) Bank Loan from Japanese Bank: The other alternative would be to borrow directly from a Japanese bank at its prime rate. This would create a Yen liability, which would be paid using the royalties Disney receives from Tokyo Disneyland. This would rid Walt Disney of its Japanese receipts and hence reduce its exposure to a depreciating Yen. If Walt Disney were to pursue this option, it estimated it could borrow at a rate of 7. 50%, paid semi-annually. This option would not only hedge currency risk, but also provide funds needed to pay down Disneys short-term liabilities. 5) Goldman Cash Method ICE Debt Issuance Acumen Swap: Goldman Cash believes that while a Japanese bank loan could possibly work, an even better option would be an ICE issuance combined with an Client Swap. The ICE proceeds would be converted into dollar to pay off some short-term liabilities, and the swap would allow Disney to create a Yen liability. This would accomplish two objectives: allow Disney to hedge against a depreciating currency as well as provide funds to reduce its debt. We now evaluate this option in more detail. Cost of Funding (Before Swap) The first step in our swap analysis is to find the Quality Spread Differential (SD). Disney should only enter the swap if it provides a benefit to both sides. A positive SD would indicate that the Swap would lower the cost of funding. Our analysis indicated a positive SD of 0. 82%, as shown in Exhibit 1. Here are the details on the specific numbers: Disney (Yen): As indicated in the case, Disney has the option of getting a term loan from a Japanese bank. It can obtain a 15 billion yen 10-year bullet loan at 7. 50% and front-end fees of 0. 75%. The debt cash flow schedule can be seen in Exhibit 2. The cost of yen of 7. 753% takes into account the front-end fee. Disney ECHO): If Disney were to acquire an ICE loan, it would have a cost of 9. 473%. The cash flow schedule (which includes periodic contributions to a sinking fund) is shown in Exhibit 2. Its important to note that the bond trades at a 25 basis point premium. Also, it has a dollar expense of $75,000. These two figures are taken into account when calculating the cost. French Utility (Yen): The French Utility companys debt schedule shows all current outstanding debt. The only Yen debt it has on its balance sheet has a YET of 6. 83%. This would be its cost of debt if it were to borrow Yen. French Utility (ECHO): The same debt schedule shows two ICE bonds one issued in 1982 and the other 1985. We will use the YET of the most recently issued bond of 1985, which has a YET of 9. 37%. Quality Spread Differential As previously stated, our analysis shows a positive SD of 0. 82%, which suggests a Swap would be ideal for both parties to lower borrowing costs. Most of the differential comes from Yen financing, where the difference was 0. 92%, versus 0. 10% for ICE financing. In terms of advantage, it appears that the French Utility company has an absolute advantage when it comes to financing in both currencies. This is because it has a lower cost of financing in both currencies. Disney, on the other hand, has a comparative advantage in ICE financing, since it has less of a disadvantage at 0. 10%. Our chart suggests that Disney should borrow in ICE and the French Utility should borrow in Yen (and subsequently swap the interest payments). This will take advantage AT Don companies comparative advantage Ana lower ten overall cost AT borrowing. Cost of Funding (After Swap) Using the provided swap cash flow schedule in the case, we can calculate the swap cost of funding. The assumption is that the exchange rates are constant: $/ICE f 0. 7420 and Yen/$ of 248. Disney (Yen Swap Cost): Since Disney is borrowing in ICE but paying Yen in the swap, we must first convert the ICE proceeds into Yen (Note: This is for calculation purposes only. In real life, as indicated in the case, Disney would convert the ICE proceeds into Dollars to pay off a portion of its short-term debt). A detailed calculation can be found in Exhibit 3. Once again, its important to note that the bond trades at a 25 basis points premium, has a 2% fee and a $75,000 fee (which must be converted from dollars to yen). This gives us a net Yen amount of 14,445,057,600. Our calculation gives us a yen swap cost of 7. 010%. French Utility (ICE Swap Cost): The French Utility company would be receiving Yen from Disney while paying ECHO. To calculate the cost of paying ECHO, we need to discount the Yen payments and convert it to ICE (again, for calculation purposes only). The resulting total prevent value would be the Year O proceeds. As shown in in Exhibit 3, the Poof the Yen payments is 14. 6 billion, which converts to 79. 296 million ECHO. Using the 79. 296 as the Year O proceeds and the subsequent ICE swap interest payments, we come up with an ICE swap cost of 9. 350%. BIG Fees: To calculate the fees received by BIG for facilitating the swap, we look at the last column in Exhibit 4. To calculate the fees, we took the difference between the ICE received by Disney and the ICE paid out by the French Utility Company. Our calculation shows that BIG will receive 50 million yen from years O to 6, and then decreasing by 10 million yen every year until year 10, when it will receive 10 million yen. Comparison: No Swap vs Yes Swap We review our cost of funding in Exhibit 5. As shown in the chart, it makes sense for Disney to enter the swap, because it would reduce its cost of funding. If Disney uses a swap, it would incur a borrowing cost of 7. 10%, which is 0. 7428% lower than if Disney were to not use a Swap. On the other hand, if the French Utility company uses a swap, it would incur a borrowing cost of 9. 35%, which is 0. 0202% lower than if it were to not use the swap. Our numbers show that the swap helps Disney more than it helps the French Utility company. For Disney, a lower cost of 74 basis points is a lot higher than French Utilitys saving on 2 basis points. Bene fits Liabilities of the Swap From our model, it appears that the swap would work best for Disney. However, there are undoubtedly risks involved with our model as well as the swap. We now discuss in detail some of the risks. Exchange Rate Risk: In our model, we held the exchange rate constant for 10 years: $/ICE at 0. 7420 and Yen/Dollar at 248. However, this is clearly not realistic, as currency fluctuation is bound to occur in the 10 year period. For Disneys purposes, the best situation would be if the Yen continues to depreciate. This would mean that Disney will pay out the same nominal amount, but the value of the payment would be less. Borrowing Cost Risk: In our model, to assess he Quality Differential Spread, we looked at current market rates as indication of future borrowing rates. However, given market fluctuations (e. G. Higher Treasury yields), the borrowing rate rate could very well change by the time of the Swap. This is especially true for Disney: given its string of acquisitions and rapidly increasing Dent to Equity rattle, now would ten market perceive another Dona Issuance? WSDL investors demand higher interest rates to compensate for the risks? Conclusion Based on our analysis, we recommend that Disney should accept the method reposed by Goldman Cash.