Dr. King s Speech - 913 Words

In 1963, Dr. Martin Luther King Junior delivered a speech on civil rights in the midst of segregated America. Dr. King begins by recounting the historical events surrounding the enslavement of African Americans, which effectively paves the way for his discussion on current events. He states that the African American is still ‘not free’ because of the unequal rights/status given to them. Dr. King instructs the followers of the movement to proceed peacefully. He also contends with those oppose to the movement by letting them know that until equal rights are given, the movement will continue. Dr. King’s speech is a persuasive one geared towards fanning the flame of passion in those already aligned with the movement and attempting to entice those who are not. It is during the time that civil rights are being called into question that Dr. King chooses to speak on the issues of the moment. He often calls the lack of civil rights both injustice and a lack of freedom. The overall purpose is clear: equality for everyone. The topic is not only appropriate for his audience, but inclusive for almost all audience members. His speech sparks fire within the black community by recounting all the transgressions against them: â€Å"†¦the Negro is the victim of the unspeakable horrors of police brutality† (King). He does not forget to include the white individuals who support the movement by mentioning them in his speech as well. There is an addition of historical events and BiblesShow MoreRelatedDr. King s Speech986 Words   |  4 PagesOn August 28, 1963, Dr. Martin Luther King, Jr. the great Civil Rights activist, delivered one of the most powerful, influential, and famous speeches, I Have a Dream, to thousands of citizens at the Washington D.C. Lincoln Memorial. Dr. King s memorable speech occurred in a dire moment of the Civil Rights movement. His argumentative speech persuaded people in opposition to civil rights by using different methods of rhetorical appeal. Dr. King s speech was so interesting, because of the combinationRead MoreDr. Martin Luther King Jr s Speech970 Words   |  4 Pages What makes Dr. Martin Luther King Jr’s speech so important till this day? It’s ability to still move people. Dr. King Jr. was one of the best speakers of his time during the Civil Rights Movement. He wrote many distinguished works, two of them being his I Have a Dream Speech and his letter, Letters from Birmingham. Letters from Birmingham Jail was written from jail after he was shortly arrested for attempting to share his views with clergymen on this racial injustice. Dr. King delivered his I HaveRead MoreDr. King s I Have A Dream Speech1170 Words   |  5 Pagesadvance Washington monument wherever Dr . Theologian King gave the famed â€Å"I Have a Dream† speech, that was recognized for collecting supporters of integration and prompted the 1964 Civil Rights Act. Dr. King’s speech was staggeringly vital throughout this era and these days, as a result of he spoke concerning the injustices of racism, segregation, and discrimination of African Americans during this nation, that still exist these days. Dr. King knew his speech would resonate and serve a purpose forRead MoreDr. Martin Luther King s Speech1127 Words   |  5 PagesIn Dr. Martin Luther King’s speech, â€Å"Beyond Vietnam: A Time to Break Silence†, King asserts that the war in Vietnam is a â€Å"symptom† (7) of a much larger disease that affects the â€Å"American spirit† (7). The disease King mentions is causing destruction where ever it is found, and in the case of the Vietnam war, it has led to their oppression and the death of people. In the section, Strange Liberators, King states, â€Å"They move sadly and apathetically as we heard them off the land of their fathers intoRead MoreDr. Martin Luther King s Speech1318 Words   |  6 PagesAugust 28 1963, Dr. Martin Luther King delivered his infamous speech â€Å"I Have a Dream† to America. His dream highlighted the injustices of segregation and discrimination of African Americans that took place in this nation every single day. Dr. King inspired thousands despite the color of their skin, to take a stance against racism, with his powerful way with words. In his speech MLK efficaciously uses, Ethos, Pathos, and Logos by using allusions, developing credibility, in his speech to persuade allRead MoreKing s Speech By Dr. Martin Luther King Jr.999 Words   |  4 Pages â€Å"I Have a Dream† one of the most popular speeches in history was written by Dr. Martin Luther King Jr., an African American preacher. He directs his speech to two main groups of people. The first group being those listening to the speech, and the second being those who are just around the area where he is delivering his speech. King’s speech is focusing on the civil rights of the African American citizens. He talks about how poorly the other people have treated them. He uses historical documentationRead MoreDr. Martin Luther King s I Have A Dream Speech1696 Words   |  7 PagesDr. Martin Luther King’s â€Å"I Have a Dream† speech has served as inspiration to multiple generations in the 52 years since his words were spoken. Individuals and groups have rallied behind his message of equality and peace and quoted this speech countless times in an attempt to further Dr. King’s dream of bringing racial injustice to an end. In this speech, which wa s delivered as the culmination of the March for Jobs in 1962, Dr. King addressed nearly 250,000 people to bring awareness to the injusticesRead MoreObservations On The s I Have A Dream Speech By Dr. Martin Luther King Jr.881 Words   |  4 Pagesyears ago, Martin Luther King, Jr. delivered his I Have a Dream Speech on the Washington Mall 47 years ago, and Mother Teresa was born a century ago. Monday: Katrina; Tuesday: I Have a Dream; Today: Mother Teresa After spending a great deal of time on and devoting a good deal of space to the two previous subjects in this series on recent anniversaries, 2005 s devastating Hurricane Katrina and the world-changing 1963 I Have a Dream speech by Dr. Martin Luther King, Jr., I had looked forwardRead MoreAnalysis of Dr. Martin Luther King, Jr.s I Have A Dream Speech619 Words   |  3 Pages28, 1963, Dr. Martin Luther King Jr. delivered one of the most famous speeches of all time to an audience of more than 200,000 civil rights supporters on the steps of the Lincoln Memorial. In his, â€Å"I have a dream† speech, King addressed his encouragement of white and black people working together to achieve racial peace and harmony. He especially wanted to teach the young blacks that equality could be gained through the use of non-violence. The main reason King used nonviolenceRead Moreâ€Å"a Comparison of Dr. Martin Luther King, Jr.’S ‘I Have a Dream’ Speech and ‘Letter from a Birmingham Jail’†.1444 Words   |  6 Pagesâ€Å"A Comparison of Dr. Martin Luther King, Jr.’s ‘I Have a Dream’ speech and ‘Letter from a Birmingham Jail’†. 9% Similarity Born in Atlanta Georgia in 1929, Dr. Martin Luther King Jr., conceivably lived as one of the greatest social and religious leaders in a country where a group of its citizens had to endure excruciating conditions of disenfranchisement, inferiority and degradation of a second class citizenship by reasons of race, color or origin. In effort to condemn all

What Types of Interest Rates Exist

Like anything else in economics, there are a few competing definitions of the term interest rate. The Economics Glossary defines interest rate as: The interest rate is the yearly price charged by a lender to a borrower in order for the borrower to obtain a loan. This is usually expressed as a percentage of the total amount loaned. Simple vs. Compound Interest Interest rates may be implemented either as simple interest or via compounding.  With simple interest, only the original principal earns interest, and the earned interest is set aside.  With compounding, on the other hand, the earned interest is combined with the principal so that the amount that earns interest grows over time.  Therefore, for a given base interest rate, compounding will result in a large effective interest rate than will simple interest.  Similarly, more frequent compounding (the limiting case being known as continuous compounding) will result in a higher effective interest rate. Interest Rate or Interest Rates In day to day conversation, we tend to hear references to the interest rate. This is somewhat misleading, as in an economy there are dozens if not hundreds of rates interest between borrowers and lenders. The differences in rates can be due to the duration of the loan or the perceived riskiness of the borrower. Nominal Interest Rates vs. Real Interest Rates Note that when people discuss interest rates, theyre generally talking about nominal interest rates. A nominal variable, such as a nominal interest rate, is one where the effects of inflation have not been accounted for. Changes in the nominal interest rate often move with changes in the inflation rate, as lenders not only have to be compensated for delaying their consumption, they also must be compensated for the fact that a dollar will not buy as much a year from now as it does today. Real interest rates are interest rates where inflation has been accounted for. How Low an Interest Rate Can Go Theoretically, nominal interest rates could be harmful, which would imply that lenders would pay borrowers for the privilege of lending money to them. In practice, this is unlikely to happen, but on occasion, we do see real interest rates (that is, interest rates adjusted for inflation) go below zero.

The Strong Character of Penelope in Homers Odyssey Essay

The Strong Character of Penelope in Homers Odyssey Homers Odyssey is a story of the homecoming of Odysseus after the Trojan War. Odysseus left his wife, Penelope, and their young son, Telemachos, almost twenty years before the telling of this story to fight in the Trojan War. His absence places Penelope in a rather precarious position. Faced with many different circumstances, both good and bad, Penelope is on her own to decide the path she wishes to take. Depending on her decisions, the situations could either be filled with wonderful opportunities or perilous dangers. The strong character of Penelope is revealed by her decisions. While Odysseus is away from home, Penelope finds herself playing the role of dutiful wife†¦show more content†¦For my mother, against her will, is beset by suitors... (Odyssey 2.50). Assuming that Odysseus had died in the course of the war, they wish to marry her, although no news has yet been delivered as to Odysseus true fate. Meanwhile, the suitors are eating all her food, killing off all her livestock, and generally using up all the resources of the household (Odyssey 1.248-251). Elders of the town suggest Penelope forget her pride and go home to her father and for him to arrange a new wedding for her. Let him urge his mother to go back to her fathers, / and they shall appoint the marriage and arrange for the wedding presents... (Odyssey 2.195-196) Thus, the suitors pose multiple dangers for Penelope. If the suitors ruin all the households resources, or if one were to successfully persuade her to marry him, she would lose her power position. Likewise, if the resou rces run out and she is forced to move back in with her father, she would lose both her power position and her autonomy. Along with the suitors, Penelope also faces possible dangers from her own son. Even though Telemachos is not in support of sending Penelope back to her father, he does not fail to underestimate and otherwise disregard her. Following with the typical Greek mindset, Telemachos views women as inherently inferior to men. This view includes how he sees his mother. He automatically assumes that she cannot run aShow MoreRelated The Role of Women in the Odyssey Essay1212 Words   |  5 PagesWomen in The Odyssey Homer wrote the classic epic The Odyssey more than 2,500 years ago. At that time in ancient Greek society, as well as in the whole of the ancient world, the dominant role was played by men. Society was organized, directed, and controlled by men, and it was accepted that women occupied a subservient and inferior position. Women, of course, were valued, but were expected to possess certain traits and perform certain tasks that men demanded of them. Does Homers writing in TheRead MoreThe Odyssey, by Homer Essay1150 Words   |  5 PagesHomer’s Odyssey was written around 700 BC. During this time there was major social and economic change, which brought the development of new cities, as well as new laws to govern them. Political rights and citizenship in Greek society truly defined the roles of women in this time period. All of the laws governing the population of Greece were not only written by men, but also enforced by men. Homer’s Odyssey is the product of a society in which men played the dominant role. Women were held atRead MoreFemale Archetypes in Odyssey1289 Words   |  6 PagesA Plotting Princess: Female Roles in The Odyssey and Antigonà ª Karen Rustad The fairy tale Snow White is a story about two women. One, the evil stepmother, schemes against her stepdaughter in order to assuage her envy and increase her power. She, of course, is thwarted by the end of the story. The other, Snow White, is a pure, innocent damsel entirely devoid of will. Nevertheless, by the end her prince saves her and she lives happily ever after. While Snow White is a European fairy tale, itsRead MoreThe Penelopiad Analysis958 Words   |  4 Pagesmust first look at how Atwood perceived the characters and writings that Homer created in his novel ‘The Odyssey’ . In an interview, Atwood explained her beliefs on the gender roles surround The Odyssey thus incorporating this as well as other materials into ‘The Penelopiad’ by stating: â€Å"There is an argument that has been made quite thoroughly that The Iliad and The Odyssey were written by two different people, and that the person who wrote The Odyssey was a woman.’ Atwood then carries on to explainRead MoreAn Analysis Of The Odyssey 1251 Words   |  6 PagesMrs. Kottke Honors 10 English 3/24/16 The Power of Women in The Odyssey Throughout literary history, women are portrayed as mere property or tools of men; however, women can also be shown as people who hold power in Homer’s The Odyssey. Women hold a significant amount of authoritative power over men in both their lives and mindsets, and this can be seen through Circe s powers that are able to manipulate Odysseus and his men, Penelope s tactics to stall marriage and her caution toward Odysseus whenRead MoreThe Odyssey And Homer s Homeric1336 Words   |  6 Pages Throughout Greek mythology, there are characters that grasp our attention, fill us with dreams, and encourages us to find our sense of adventure fantasy. We encounter new brace characters, and once in awhile we see those qualities and characteristics in another character. that s the case with the characters of Demeter and Penelope. Although placed in different stories like The Odyssey and Homer’s Hymn to Demeter, both characters share qualities that makes them similar to one another. FurthermoreRead More Women of the Odyssey Essays1488 Words   |  6 Pages The Women of the Odyssey   Ã‚  Ã‚  Ã‚  Ã‚  Many people regard Homer’s epics as war stories—stories about men; those people often overlook the important roles that women play in the Odyssey. While there are not many female characters in the Odyssey, the few that there are, play pivotal roles in the story and one can gain a lot of insight by analyzing how those women are portrayed. Homer portrays the females in contradictory ways: the characters of Athena and Eurykleia are given strong, admirable roles whileRead MoreThe Role of Woman in The Odyssey1240 Words   |  5 PagesAlthough â€Å"The Odyssey† by the Greek poet Homer is very much an epic tale of a man’s heroic quest, women play an incredibly large role. Homer’s epic tale, â€Å"The Odyssey† revolves around Ulysses’ quest to return back to his wife, Penelope, so that he may be reunited with her and assume control over his palace, which has been overrun by suitors. Ulysses’ son, Telemachus attempt s to regain authority in the presence of the many suitors but finds this difficult and embarks upon his own journey under theRead MoreThe Impacts Of The Odyssey In Homers The Odyssey1166 Words   |  5 PagesHomer’s epic poem The Odyssey follows Odysseus on his long journey home. The Epic also includes the stories of Odysseus’ family left behind: the travels of his son, Telemachus, and how plenty, of what we would now call â€Å"home wreckers†, suitors pressured his wife, Penelope, into marrying one of them. The characters are beautifully crafted and the story is truly epic. All the elements presented can bring in any reader from any century, the Cyclops, the Gods, the trickery of Penelope, and the disguisesRead MoreOdysseus Is A Hero?950 Words   |  4 Pagesqualities. In one of Homer’s classic epics, The Odyssey, Odysseus is admired by many people as a man who has intelligence, nobility, and confidence. However, women who both loved and knew Odysseus than anyone, thought of him differently and knew him in depth. Through The Meadowlands and The Penelopiad, Circe and Penelope showed their strong opinions of this â€Å"hero† through their own perspectives. Insteading having the definition of hero that majority believe in, which are fit and strong bodies, Greeks

Empiricism and Rationalism Essay - 1020 Words

Philosophy uses a term for empirical knowledge, â€Å"posteriori†, meaning that knowledge is â€Å"dependent upon sense experience†. (Markie, 2008, section 1.2) Yet, philosophical empiricism is defined in such an absolute way; which causes philosophical empiricism to be an inaccurate philosophical position from which to address all aspects of human life. Philosophical empiricism is defined as â€Å"the belief that all human knowledge arises from sense experience.† (Nash, 1999, page 254) Yet, medical empiricism is so far to the other extreme as to be insulting, while this empiricism is still said to be based on all sensory experience; only the scientific sensory experience is valued and counted. This form of empiricism excludes the experience of†¦show more content†¦This is the philosophical debate as to whether or not the material world persists to exist without a human to perceive that material world. Does allergy discomfort exist without a allergy test to perceive the level of discomfort. Years later my empirical data was proven valid and my son has been taking allergy medication for over ten years. I accessed my son’s changes in behavior empirically, yet the process that joined that behavior to certain foods was rationalism through reason. Rationalism can have multiple meanings; it can be used to describe â€Å"a person who elevates human reasoning above the Scriptures and teachings of the historic Christian faith. (Nash, 1999, page 258, n. 16) Rationalism can also be a belief in the Holy Spirit and divine revelation; when defined as â€Å"the theory that some human knowledge does not arise from sense experience.† (Nash, 1999, page 392) I believe that the variations in meanings are related to the variable sources that humans use to reason. Some of the variable sources are intuition and deduction; these are the methods that I used to assess my son’s food sensitivities. There is also innate knowledge, which is how as a child I just knew, that God exists. Most people at some time in their lives have just sensed that something was wrong without explainable details. This phenomenon is well documented when reviewingShow MoreRelatedRationalism And Empiricism1119 Words   |  5 Pages Empiricism is based from sensory experience and observed facts. This view emphasizes that â€Å"scientific knowledge can be derived only from sensory experience† (Alligood, 2014, p. 15). Examples of sensory experience are seeing, feeling and hearing facts. This approach is labeled the research-then-theory strategy. An example that Alligood provides is that â€Å"formulating a differential diagnosis requires collecting the facts and then devising a list of possible theories to explain the facts† (2014, p.Read MoreRationalism Vs Empiricism : Rationalism Versus Empiricism1385 Words   |  6 PagesDolce â€Å"Rationalism vs Empiricism† Today in society, many people are free to follow whichever philosophical view that they feel is right for them. Each philosophical view has a different set of beliefs, and many philosophers went through great lengths to prove that the philosophical view of their choice was the best one. In this paper I will be talking about two philosophical theories. The first one is called Empiricism, and it was made famous by a philosopher named David Hume. Empiricism statesRead MoreRationalism and Empiricism1004 Words   |  4 Pagesturned it into a detention center. Cormac McCarthy, Whales and Men, (pp. 57-8). Since Ancient Times, humans have been arguing over meaning and sense do we know things directly or by observation or by impressions. These two views, rationalism and empiricism, share the view that we cannot know directly. The rationalist focuses more on the biology or cognitive science of the brain, while the empiricist on what can be observed. It is to what extent that we as humans become aware of our universeRead MoreEpistemology : Empiricism And Rationalism Essay1505 Words   |  7 Pagesmany objections as to why one would be skeptical about the world as we know it. There are two main positions in epistemology: empiricism and rationalism. Empiricism is the belief that all of our knowledge must come from sense experience that we have encountered, and there cannot be knowledge that doesn’t come from sense experience (Notes). On the other hand, rationalism is the belief that humans can have another source of knowledge apart from sense experience, and that source of knowledge is reasonRead MoreThe Between Empiricism And Rationalism Essay1611 Words   |  7 Pagesdivision between empiricism and rationalism in different ways of thinking about how we reason and rationalise that knowledge and how it is reliable and certain, epistemology gives us our professional theories, beliefs and practices and how we differentiate between what is true and false. (Scott, 2014). †¢ Rationalism – knowledge acquired using reasoning, using intuition and deduction to analyse how the person concluded and how they validate the argument or concepts presented. †¢ Empiricism- knowledge isRead MoreRationalism vs. Empiricism Essay1573 Words   |  7 PagesRationalism and empiricism were two philosophical schools in the 17th and 18th centuries, that were expressing opposite views on some subjects, including knowledge. While the debate between the rationalist and empiricist schools did not have any relationship to the study of psychology at the time, it has contributed greatly to facilitating the possibility of establishing the discipline of Psychology. This essay will describe the empiricist and rationalist debate, and will relate this debate to theRead MoreEssay about Rationalism and Empiricism1486 Words   |  6 PagesRationalism and Empiricism Rationalism and Empiricism are most likely the two most famous and intriguing schools of philosophy. The two schools deal specifically with epistemology, or, the origin of knowledge. Although not completely opposite, they are often considered so, and are seen as the Jordan vs. Bird of the philosophy world. The origins of rationalism and empiricism can be traced back to the 17th century, when many important advancements were made in scientific fields such as astronomyRead MoreDifferences Between Rationalism And Empiricism1890 Words   |  8 PagesIn what follows I will define and differentiate between rationalism and empiricism and illustrate the core beliefs and justifications from both sides. As defined by Horrigan, epistemology is the â€Å"science and study of knowledge, primarily occupied with what we know, and how we come to know it.† (Horrigan 2007, 8) Rationalism, as Nelson highlights, is the belief that â€Å"reason gains our knowledge of the world alone, whereas e mpiricism is the belief that all knowledge is based on experiences derived fromRead MoreEssay on Rationalism vs. Empiricism: The Argument for Empricism855 Words   |  4 Pagesepistemology: rationalism and empiricism. These two, very different, schools of thought attempt to answer the philosophical question of how knowledge is acquired. While rationalists believe that this process occurs solely in our minds, empiricists argue that it is, instead, through sensory experience. After reading and understanding each argument it is clear that empiricism is the most relative explanatory position in epistemology. To begin with the question of rationalism versus empiricism, it is importantRead MoreEmpiricism and Rationalism: Searching for God and Truth Essay838 Words   |  4 Pagesrealism, empiricism, and rationalism they have even tried to convince nonbelievers about the defensibility and validity of God. But regardless of the findings it has always been an individual’s choice of what to believe and who to believe in. There has also been a perception about a greater power that has many searching for proof. The existence of God for some philosophers have fueled a many arguments that to this today still have not been answered. The two streams I will discuss are Empiricism, and

Commonwealth Serum Laboratories Analysis & Recommendations

Questions: Part 1. Provide an executive summary which will include overview of subject matter, methods of analysis, findings and recommendations. Part 2. Use the latest annual report. The group will need to review the major sections of thisreport in order to be familiar with the content of each of the financial statements andappropriate footnotes. Review the balance sheet of the company and indicate the total amount of thefollowing: a) Current assetsb) Non-current assetsc) Current liabilitiesd) Non-current liabilitiese) Stockholders equity Answers: Part 1 Executive Summary The report helps in understanding the financial statements of Commonwealth Serum Laboratories (CSL). The company is a bio therapeutics company. It researches, manufactures and helps in development and delivery of new and innovative biotherapies which can be used to save lives of people and help them from life-dangering conditions. CSL currently employees in more than 30 countries and has 8 manufacturing sites. The company has a turnover of more than 5.5 billion annually with headquarters in Melbourne Australia. The company has more than 14000 employees and 1100 experts in the research and development areas. The company focuses on research and development and has planned on investing more than 2 billion in the next 5 years. The report contains the all the important financial statements and a comparative analysis with the previous year to understand the performance of the company in this financial year. For the balance sheet the various important parts: current assets, non-current assets, current liabilities, non-current liabilities and shareholders equity were analyzed. The value of the parts were noted and it was found that that the size of the balance sheet has increased this year from $6277.7 million to $6401.0 million. The current assets have increased for the company and the company will be able to quickly convert these assets into cash to pay off the liabilities. This is a good sign for the company. For Income statement, the gross profit margin of the company has increased. Also reduced selling and marketing expense and other general expenses while gaining more sales. Thus the performance of the company has been significantly better compared to 2014. From the cash flow statements, the cash earned by the company in 2015 due to operating activities has increased. Also the company has reduced cash outflow in financing activities but the company has increased the investment in intangible assets. Thus the overall cash position is good and it has sufficient cash to carry out its daily activities in the next year. The equity of the company has deceased because of its acquisition of Novartis. Thus the company has reduced reserves and contributing equity but the retained earnings of the company has grown by a significant amount which shows that the company is profitable and the overall health of the company looks good. Contents Part 1. 2 Executive Summary. 2 Introduction. 4 Part 2. 6 Balance Sheet. 6 Part 3. 9 Income Statement. 9 Part 4. 11 Cash Flow Statement. 11 Part 5. 13 Stockholders equity. 13 References. 14 Appendix. 15 Introduction CSL or Commonwealth Serum Laboratories is a bio therapeutics company. It researches, manufactures and helps in development and delivery of new and innovative biotherapies which can be used to save lives of people and help them from life-dangering conditions. CSL is a government body. It was started in 1916 in Melbourne Australia with main focus to produce vaccine. The main focus of CSL is invest in world class research and development (RD), have a high quality manufacturing facility and develop innovative biotherapies and other programs to support patients and save lives of the people with severe medical conditions. CSL currently operates in 30 countries and has more than 14000 employees. It has state of art plasma collection and manufacturing facilities with innovation as its central theme. The annual revenue earned by CSL has increased to $5.5 billion and it has more than 1100 experts in the RD department. It has 8 manufacturing facilities in the countries Australia, United States, United Kingdom, Switzerland, and Germany. The business of CSL can be divided into CSL Behring, bioCSL and RD. CSL Behring is the global leader in biotherapies. It has the biggest range of best quality products with main markets in North America, Europe, Asia and Australia. The company has specialty product and have changed treatment paradigms across the world. The treatment helps improving patients life from bleeding disorders to immunoglobin. The CSL plasma division of CSL behring has the worlds most efficient plasma collection networks. It has more than 120 centres in US and Europe. The company has extended the plasma centers to Hungary and opened 22 new collection centers. The company follows stringent international safety and quality standards in each step of the process. bioCSL has the worlds largest influenza vaccine facility. It manufactures influenza vaccines for the global markets. The influenza industry is US$4 billion industry and CSL has 40 years of manufacturing experience in this industry. It also operates a cold chain logistics business across the Australia for delivering the vacines and other medicines. It distributes antivenoms and Q fever vaccines in the Autralian markets. Research and Development is the main focus of the company. CSL has been heavily investing in RD. It the next 5 years it has planned to invest $ 2 billion in RD to support the existing licensed products of CSL and help in development of new therapies. It has built competency using recombinant technology to develop breakthrough medicines. CSL has invested in development of protein based medicines which can help in treatment of serious human diseases. They have their headquarters in Melbourne. The building was renovated and has sustainable features. The building has been awarded by Victorian Architecture Awards in June 2015. Part 2 Balance Sheet Balance sheet of a company summarizes the companys assets, liabilities and equity of the owner at that time. The balance sheet can be broken down into Assets, Liabilities and Shareholders Equity. The accounting equation every balance sheet follows is Assets = Liabilities + Shareholders Equity. The Assets are listed on the top of the balance sheet in the order of liquidity with assets more easily convertible to cash in the top. The assets can be classified as current assets and non current assets. The current assets are the assets which can be converted to cash in less than one year. Eg: cash and cash equivalents, account receivable, inventory, prepaid expenses and marketable securities. Non current assets are the assets which cannot be converted to cash in less than one year. Eg: Long term investments, fixed assets, and intangible assets. The liability is the money the company owes to different parties. The liabilities can be classified as current liabilities and non current liabilities. The current liabilities are the liabilities which has to be paid in less than one year. Non current liabilities are the liabilities which is not to be paid in less than one year. The last part of the balance sheet contains equity. It is the amount that is invested by the owners of the company to run the business. Retained earnings are the earnings from the business which is reinvested into the business for the growth of the business. It gives a clear way to realize if the assets are financed using the money borrowed from banks or other lenders or own money of the owners. General business have a small initial amount that is invested and has an acceptable method of calculating the profit which is withdrawn at the end of the period. But as the companies do not get cash when the start, they invest money to acquire various goods or equipment which are the assets for the company and will generate cash. These investments do not converted to cash immediately at the end of each period. In financial statements, Balance sheets are of critical importance for any company to carry out the financial analysis as it includes various diverse factors of accounting, economics and investments. It gives a precise version all the financial accounting of the company. It is a direct sign of financial health of the company. Taking the balance sheet for CSL into consideration, Current assets. The current assets consists of Cash and cash equivalents, trade and other receivables, inventories, current tax assets, other financial assets. The total current assets for CSL in 2015 = $3339.1 million. The total current assets for CSL in 2014 = $3207.6 million. % change in current asset = (3339.1 3207.6)/ 3207.6 = 4.10% Non-Current assets. The non-current assets consists of other receivables, other financial assets, property plant and equipment, deferred tax assets, intangible assets and retirement benefit assets. The total non-current assets for CSL in 2015 = $3061.9 million. The total non-current assets for CSL in 2014 = $3070.1 million. % change in non-current asset = (3061.9 3070.1)/ 3070.1 = - 0.27% Current liabilities: The current liabilities consists of trade and other payables, interest bearing liabilities, current tax liabilities, provisions, deferred government grants, derivative financial instruments. The total current liabilities for CSL in 2015 = $936.1 million. The total current liabilities for CSL in 2014 = $845.3 million. % change in current liabilities = (936.1 845.3)/ 845.3 = 10.74% Non-Current liabilities: The non-current liabilities consists of share based payments, interest bearing liabilities, deferred tax liabilities, provisions, deferred government grants and retirement benefit liabilities. The total non-current liabilities for CSL in 2015 = $2718.0 million. The total non-current liabilities for CSL in 2014 = $2270.4 million. % change in non-current liabilities = (2718.0 2270.4)/ 2270.4 = 19.71% Shareholders Equity: The shareholders equity consists of contributed equity, reserves and retained earnings. The total Equity for CSL in 2015 = $2746.9 million. The total Equity for CSL in 2014 = $3162.0 million. % change in total equity = (2746.9 3162)/ 3162 = -13.13% Thus it can be seen that the size of the balance sheet has increased from $6277.7 million to $6401.0 million. The current assets have increased for the company. Thus the company will be able to quickly convert these assets into cash to pay off the liabilities. This is a good sign for the company. The equity of the company has deceased because of its plan to acquire Novartis. Thus the company has reduced reserves and contributing equity but the retained earnings of the company has grown by a significant amount which shows that the company is profitable and the overall health of the company looks good. References Cash flow statement. (n.d.). Balance Sheet. (n.d.). Income statement. (n.d.). CSL Corporate profile. (n.d.). Wright,Tiffany. 2016. Companys financial performance.

Entrepreneurs and Third Innovative Techniques

Question: Discuss about the Entrepreneurs and Third Innovative Techniques. Answer: Introduction The aim of this literature review is to learn and understand about the entrepreneurs and third innovative techniques that help them to be a successful entrepreneur. An entrepreneur is a person who is born with some natural traits so that they can be successful in their business (Parasuraman, 2010). They have the advantages to think out of the box and power to implement their unique ideas. In this way, the innovation and entrepreneur are deeply connected to each other (Smith, 2005). They are the inventors and discoverer of new and latest ideas in the business organizations. They have many qualities like risk taking. Innovators, resource allocators, deep thinker, think out of the box, etc. In this competitive world, it has become very important for companies to bring continuous innovation in the business organization. In order to sustain in the competition, innovation and change are the two pillars that help to gain competitive advantage (Chesbrough, Vanhaverbeke, West, 2014). The leaders of an organization are responsible in brining innovation. There is a need and requirement of the business organization and enterprises to be more creative and innovative. Creative leaders help the organizations to differentiate and innovation lead the same to have better ideas and information. In this present study, the motive is to learn innovation, its definition and also about the evolution of the innovation (Edquist, 2010). Literature review on innovation and its evolution First of all there is a need to understand what innovation all about is? Innovation refers to a situation in which the process of transformation takes place in which an idea or invention takes place into the goods and services so that a new value can be created in the old version for the customers and consumers (Lambert, Davidson, 2013). The innovation is a process which is simple related to the changes. The changes must be positive to the company, customers and also the other people who are related to the company (West, Lakhani, 2008). They can be stakeholders and employees also. The innovation is called as innovation only in few situation that are it must be economic in cost, not harmful to anyone , the idea must be new and fresh, imagination of the entrepreneur, and must satisfied the needs and wants of the customers (Edquist, 2010). It is related to the deliberate application of the imagination, information and also a type of initiative takes by the individuals to bring the change in the society, company, organization and many other places (George, McGahan, and Prabhu, 2012). The innovation only takes place when the imagination of developed ideas is practically applied o implemented in the reality (McLean, 2005). The innovation is of two types that is evolutionary innovation which is continuous and dynamic kind of innovation and it helps in bringing up of advancement in technology or new process in the companies (Bell, 2011). The other type is revolutionary innovation which is not continuous of discontinued after the changes take place. It can be disruptive and new also depending on the situation and condition (Osayawe McAndrew, 2005). The innovations and changes are synonymous with the risk taking. It helps the companies in creating new products and services by using new or old technologies by taking a huge amount of risk as they have to create new markets in the economy (Ordanini, Parasuraman, 2010). The innovation is generally related to the entrepreneurs as they are the one who are capable to take high risk. The imitators take less amount of risk thats why they cannot bring innovation (Fixsen, Naoom, Blase, Friedman, R. 2005). They are the people who start the business with the products of innovator and use most effective approaches and theories. Example- there is personal computer manufacturing companies like IBM with its personal computers that are against apple computers and laptops Compaq with its personal computers and cheap in the process against IBM Dell with its more cheap clones against Compaq (De, Frattini, Pizzurno, Cassia, 2015) A critical analysis on innovation The idea on innovation and evolution is directly related to the positive economic development and growth f the company that leads in the performance development and increase in the productivity (Pettigrew, Woodman, Cameron, 2001). The empirical evidence shows that the process of innovation has always bring positivity in the business organizations. They are the inventors and discoverer of new and latest ideas in the business organizations. They have many qualities like risk taking (Heller, Zavaleta, 2009). Innovators, resource allocators, deep thinker, think out of the box, etc. There is a need and requirement of the business organization and enterprises to be more creative and innovative. Creativity leaders help them to differentiate and innovation lead them to have better ideas and information. In a nutshell it says that innovations play a role of knowledge, information and dynamicity which gives an insight of growth and development process (Janssen, Schoon, Ke, Brner, 2006). A critical analysis on the approaches and designs of innovation The main purpose of these approaches and designs is to understand the perspective of the innovation and its theories. The innovation is a set of all the developed changes that are required to be done and apply. There are five criteria on which the innovation process depends that is strong sustainability, voluntary initiatives and design and innovative frameworks (Chrisman, Chua, Massis, Frattini, Wright, 2015). The design frame works help in designing the layout on which the innovation of organizations will take place. The changes are dependent on the measures, regulations, possibility to change, product-service innovation systems, etc. The approaches and designs of innovations must be sustainable in nature and they do not have any negative impact on any activity of the business (George, McGahan, and Prabhu, 2012). In order to achieve this, the organization first establish clear understanding by analyze and evaluate the type of innovation that will take place in the future. It provides them knowledge and future prospectus of innovation. The theory of innovation The theory of diffusion is the most relevant theory of innovation that seeks that how, why, ad what rate of innovation taken place. It also defines the ideas and technology that must be spread as an innovative process and progress (Keupp, Palmi, Gassmann, 2012). This theory also explains that there are four ways that can help to spread any innovative idea that are innovation itself, time, social system and also the communication channels (Markard, Raven, Truffer, 2012). It is the process that is dependent on the human capital. This thirty stares that the process of innovation can only be successful if it is highly implemented and acceptable by all (Dahlander, Gann, 2010). The innovation and self creation is one of the final ways to reach to the final destination of success (Smits, Kuhlmann, and Shapira, 2010). To bring innovation, one must hire talented and creative employees, analyze the market situations, work with innovative people, take idea for each and every thing, and apply all the ideas practically in the business organization. There are various types of categories of the adopters like innovators, early adopters, early majority, late majority and laggards (Lundvall, Joseph, Chaminade, Vang, 2011). Management of the innovation In order to manage the process of innovation, there is a requirement of innovation knowledge and talent in the business organization and entrepreneurs. The management of the innovation is a creative and challenging takes which can it be handled by all (Uyarra, 2010). Otherwise, everyone is creative and talented enough to think out of the box. But there are few who have the ability and guts to come forward and try to achieve their dream and change them into reality (Lusch, Nambisan, 2015). The innovation only takes place when the imagination of developed ideas is practically applied o implemented in the reality (McLean, 2005). Evolution The motive of the process of management and entrepreneurs is to make a framework of the procedures to that the organization can ensure that they are able to fulfill the current and future needs of the customers and the other people related to it (Metcalfe, Miles, 2012). The process of evolution refers to the changes takes place during the process of innovation. The theory of evolution is based on the ideas that all the things are required to be change with the time. It can be gradually or sudden. There are various types of variations takes place due to which the process of evolution initiate (Chesbrough, Vanhaverbeke, West, 2014). There is evolution in the process of management, technology, entrepreneurship, etc. evolution can be biological and technical (Chrisman, Chua, Massis, Frattini, Wright, 2015). In this study, the focus is on the technical evolution of the management and entrepreneurship process. The process of production, marketing, accounting, advertisement, human resource, etc are changing with the change in the time (Frow, Nenonen, Payne, Storbacka, 2015). It is the requirement of the time to bring changes and evolution. It is a part of life whether it is a life of an individual or any business organization. The obsolete things and people cannot survive for a longer period of time (Jensen, Johnson, Lorenz, Lundvall, 2007). The process of evolution has its three major phases that are transition, industrial revolution, and information revolution. The first process is transition where the human realized that changes can take place and they can take place by small innovations (Mothe, Paquet, 2012). The second phase of evolution is industrial revolution where the companies started and the entire economy has changed. The phase is of information revolution in which the introduction on internet taken place that has changed the entire system of the global economy (Greenhalgh et al, 2005). The theory of evolution There are various types of evolution theory that help the organization in better management of the business. The evolution of this business era takes place from the history of the management principle and theories. There were two theories that are scientific and bureaucratize management (Biber, Leavy, 2010). These theories help the companies to identify and analyze the culture of the organisation and the place where the transactions take place. There are various types of methods used to measure the impact of the evolution theory that is quantitative and qualitative methods (Perkmann, Walsh, 2007). The companies are now having various types of competing approaches to survive the competition and risk in the business organization (Bouncken, Gast, Kraus, Bogers, 2015). Conclusion The aim of this literature review is to critically analyze about the wider impact of the innovation at different levels of the organizations and its teams, members stakeholders, firms, projects, industries, etc. It can be concluded that the world has now become a global village which is highly competitive world full of complexities and challenges. Each and every business organization is facing issues in their survival. So, the innovation is the only way that can help them to survive the competition is this competitive world. There is a need and requirement of the business organization and enterprises to be more creative and innovative. Creativity leaders them to differentiate and innovation lead them to have better ideas and information. In this way by proper combination of these two elements the entrepreneurs can survive in this competitive world and also have competitive advantage. The innovation and self creation is one of the final ways to reach to the final destination of success. To bring innovation, one must hire talented and creative employees, analyze the market situations, work with innovative people, take idea for each and every thing, and apply all the ideas practically in the business organization. Thus, by building creativity and innovation in the organization, companies can ensure there development and growth in the future and they will surely succeed in the future. 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