Waterborne Essay Example Pdf - Free Essay Example

What are the application differences of a Polyurethane dispersion coating compared to a solvent based polyurethane and what are the advantages upon each other? A polyurethane coating is a versatile product with many advantages upon other coating systems. A major disadvantage of classical, solvent based polyurethane coatings, are the volatile organic compounds (VOCs) present in the wet state. New regulations force formulators to keep the VOC content below 350 g/l. Recent developments dealt with this problem. Developers have succeeded in making a polyurethane dispersion in water, eliminating most of the volatile organic solvents. However, the costs of a so called water borne polyurethane are higher than that of a solvent based polyurethane. A question that may arise is whether or not the dispersed polyurethane performs the same way as the classical, solvent based, polyurethanes and whether or not it is worth the money. Besides possible differences in performance, processing techniques may differ. The goal of this investigation is to give an overview of the differences between the performance, processing and cost between a polyurethane dispersion and solvent based polyurethanes. The major formulations of both types will be summarized and compared to find the best coating. The chemistry of PU A polyurethane (PU) is a polycondensation reaction product of an isocyanate with a monomer. The isocyanate must have at least two functional groups and the monomer at least two alcohol groups. The catalyst for the reaction can be a tertiary amine like dimethylcyclohexylamine or organic metallic materials like dibutyltin dilaturate. The condensation of a cyanate with a hydroxyl end-group results in a urethane linkage. Both the isocyanate and the hydroxyl alcohol (diol) need to be bi-functional to form polyurethane. The reaction mechanism of the formation of PU catalyzed by a tertiary amine is given by: Figure 1: reaction mechanism of the catalyzed condensation reaction of PU by a tertiary amine Many isocyanates can be used but MDI, aliphatics such as H12MDI, HDI, IPDI and TDI are the most widely used among others. MDI consumption exceed 45% of the total amount of isocyanates used, closely followed by aliphatics (35-40%) and TDI (15%). Whilst the reactivity of the isocyanat e determents the rate of the reaction, the main properties of the PU is devised from the diol. As with the choice of an isocyanate, a wide variety of diols can be used. EG, BDO, DEG, glycerin and TMP are all useable. For hard and weatherable coatings acrylic and polyester polyols tend to be preferred. Polyols with a low molecular weight as the main reactant produces polymer chains with more urethane groups hence a harder and stiff polymer is formed. High molecular weight polyols however produces a more flexible polymer. Also a low functionality long-chain polyol produces soft and flexible PU while short-chain polyols with high functionality makes more cross-linked products which are more rigid. Different types of PU formulations PU coatings can be divided into two main groups, namely into 1 and 2 pack systems (1k and 2k). The 1k system basically contains a dissolved, fully reacted PU whilst a 2k system can contain partially reacted PU and unreacted monomers. Both systems can be solvent-based or waterborne. Furthermore there are several curing (or drying) systems known, each resulting in different performing coatings. Two-component or 2k As mentioned briefly 2k systems are reactive and the primary reaction is of isocyanate with polyols. The main disadvantage of a 2k system is the pot-life. When the isocyanate is added the mixture begins to react and hardens. However, the main advantage of a reactive system is the outstanding mechanical performance. Because the PU particles react and crosslink, an endless polymer forms which is hard and chemical resistant. Two-component systems include solvent-based and waterborne formulations. Solvent-based 2kcoatings are obtained by mixing aliphatic isocyanates with polyester polyols or blends of polyester with acrylic grades. Formulations like these cure by partially physical drying and cross-linking with the isocyanate. Solvent-based 2k formulations are mostly used in the automotive and aviation industry as a finish coating. Waterborne 2k coatings are formulated with dispersible isocyanates and water-dispersible polyols such as polyacrylates or emulsifiable polyesters . The most commonly used isocyanate is a HDI trimer but IPDI trimers can also be used. Aromatic isocyanates cannot be used in waterborne formulations because they react dangerously with water. Dispersible isocyanates can be used as such or can, by partial reaction with a dispersible polyol, be emulsified, making it easier to mix. However some waterborne systems still need up to 10% co-solvent to form a homogeneous finish. These formulations cure by partially physical drying and by cross-linking but can also be thermally cured at temperatures ranging from 20 ËÅ ¡C to 80 ËÅ ¡C. Waterborne 2k systems are frequently used as protective coatings in the transportation, machinery and furniture industry. Their high flexibility also makes it possible for use on polymeric and wooden surfaces. One-component or 1k A 1k PU coating consists of partially reacted polymers (prepolymers) which are liquid at room temperature. These prepolymers are synthesized by reacting MDI, HDI or TDI with a polyester or polyester polyols. The main advantage of a one-component system is that no mixing is required and pot life is no issue. 1k systems are storage stable with a shelf life of up to six months. However a disadvantage is that most 1k formulations are not cross-linked making them less hard and vulnerable to solvents. 1k formulations are broadly used as maintenance and repair coatings for their ease in application and mechanical behavior. They are used for painting steel constructions such as bridges and other large steel structures where corrosion protection is needed. Solvent-based 1k coatingsare obtained through reacting aromatic or aliphatic isocyanates (MDI and IPDI) with polyesters or polyether polyols. This reaction forms high molecular weight linear PUs. Commonly used additives are cha in extenders. Curing occurs by evaporation of the solvent but 1k systems can be formulated so they cure by oxidation, with moisture and even by UV-radiation. Waterborne 1k or better known as PUDs are fully reacted polyurethane systems. The PU particles have hydrophilic groups in their backbone and are maximum one tenth of a micrometer in length, dispersed in water. This makes a both chemically and colloidal stable mixture (Figure 2). A PUD can also be formed by incorporating a surfactant. PUDs are currently very popular because they are environmentally friendly, but still being able to perform reasonably. Because PUDs are relatively expensive they are mixed with acrylic grades to lower the material costs. However more acrylic means less hardness. 1k waterborne formulations can cure physical, by oxidation and by UV-radiation. There are formulations at the market containing no solvent. These coatings find their application in the building sector. To obtain solvent-free formulations MDI is reacted with polyether or oil-modified polyester polyols. To obtain higher hardness chain extenders and catalysts are added to the formulation. Drying systems As mentioned above the way a coating cures strongly effects the final performance of the coating. The way a coating dries is dependant of its formulation. A 2k system can cure on air, by heat and under influence of UV. One-component systems can cure physically, with moisture, by oxidation, under influence of UV-radiation and by heat. Physical drying basically means that the solvent containing the PU evaporates, leaving the PU to form a film. A major disadvantage of this way of drying is that there is no cross-linking between the PU particles. This drying mechanism affects some one component systems. UV curing coatings can be formulated as solvent-based or waterborne and both 1k and 2k. In a UV-curing formulation the catalyst is inactive in absence of UV-radiation; this behavior is seen with a photo-initiator. When UV-radiation hits the catalyst it unblocks and becomes active and initiates the curing. A schematic representation of this process is shown in Figure 3. UV-cur ing coatings are predominantly used as automobile finishes as it has unmatchable hardness and gloss. Oxidative drying is a process which is used with a special type of 1k PU coatings. So called oil-modified PUs (OMU) are synthesized through an addition reaction of isocyanate with a hydroxyl bearing, fatty acid modified ester (TDI). To obtain higher densities more isocyanate can be added but this means that more solvent is needed, as much as 550 g/l (not VOC-compliant). Natural oils like linseed oil can be used as the diol and a mineral spirit can be used as the solvent. An OMU can be solvent- or water-based and cures by reacting with air surrounding the coating. The fatty acid groups of the oil (attached to the PU) form cross-links with each other by mean of oxidation. OMUs have better mechanical and weathering properties than unmodified, non-reactive alkyds, but reactive PU coatings are superior. OMUs are predominantly used as wood finishes for their distinctive yellowi ng/aging which some formulators prefer. Moisture curing PU (MCPU) coatings are formulated with NCO-terminated PU prepolymers. The NCO groups react with atmospheric moisture which produces a amine-group. This further reacts with remaining isocyanate to form highly cross-linked urea-networks. MCPU coatings have superior hardness, strength and stiffness. Even though the coating is cross-linked a MCPU has a relatively high flexibility. Because a MCPU cures with moisture this strongly affects the storage stability. Thermal curing formulations are based on deactivated isocyanate mixed with a polyol. This semi-one-component formulation is stable at room temperature but when heated (100-200 ËÅ ¡C) the deactivated isocyanate unblocks and reacts with the polyol, the same way as a reactive 2k coating. The isocyanates (aromatic or aliphatic) all have one active hydrogen. For blocking the isocyanate caprolactam is mostly used. A different way of blocking the isocyanate is creatin g uretidinedione or dimer links. Thermally cured coatings find their main usage on surfaces which need to withstand excessive heating and cooling cycles. An overview of all the PU coatings with their distinctive curing system is shown in Figure 5. Testing the coatings To make a comparison of different types of PU coatings the performance of a coating need to be tested. Because of the broad application possibilities of PU coatings and because of the need of a wide variety of different characteristics, the comparison will be narrowed down to floor coatings. Floor coatings are tested on mar and scuff resistance, taber abrasion, chemical resistance, color and KÃÆ' ¶nig hardness. Because thermal cured coatings are not applicable as flour coatings these formulations will not be used in the comparison. Moisture curedà ¢Ã¢â€š ¬Ã‚ ¦ Mar and scuff resistance Mar and scuff resistance or simply put resistance to marking can be measured by several methods. One of them is the pendulum method which consists of a pendulum arm with a hard-wood block attached to the end. The weighted block hits the coated panel four times and the average 20ËÅ ¡ gloss of the coating is measured before and after the test. The results are expressed as percentage 20ËÅ ¡ gloss retained and visual assessment of the panel (scratching and scuffing). Taber abrasion To test taber abrasion can be described as wear resistance. To measure abrasion resistance an arm is weighted with 1000 gram weights and attached to abrasive wheels (mostly consist of minerals). The arm makes 1000 cycles over the substrate. The initial weight of the coated substrate is compared with the weight after the test. The results are expressed in milligrams removed. Chemical resistance Chemical resistance is determined of dry films using eight household stains and chemicals. Test chemicals include MEK, olive oil, several cleaning chemicals, ethanol, white vinegar, water and 7% of ammonia solution. The chemicals are applied on a two-ply square towel on the test film, completely saturating the towel. The towel with the liquid is immediately covered with a watch glass. After a period of two hours the stains are removed and the panel is rinsed and dried. The impact of the chemicals on the coating is investigated immediately after the rinsing. The surface is investigated on discoloration, blistering and softening. Each chemical is rated on a scale of 1 to 10 with 10 being no effect. Color An important property to investigate of coatings is color, especially when evaluating PU coatings, because PUs tend to yellow, especially OMUs. The initial yellowness index of a coating is measured and after a period of lighting. The difference between initial and final yellowness index is also measured as the Delta E. When this value is below 1.0 the color difference is insignificant. The higher the value the more yellow the coating has become in a period of time. KÃÆ' ¶nig hardness KÃÆ' ¶nig hardness is a method used for measuring the hardness of a coating. With this method a pendulum rocks back and forth over the coated substrate. The coating will dampen the rocking motion, slowing the pendulum down. The results with the KÃÆ' ¶nig hardness are expressed in seconds; the longer the pendulum rocks, the harder the coating. Solvent-based vs. waterborne For this comparison different formulations of each type are reviewed. Solvent-based 2k, solvent-based OMU and 2k UV are compared with waterborne OMU, 2k and a PUD/acrylic mixture. Data from sb OMU, PUD/acrylic, wb OMU and wb 2k is obtained from the article Oil-modified urethanes for clear wood finishes: Distinction or extinction by Richard A. Caldwell from Reichhold. Data from sb 2k, 2k UV and 100% PUD formulations are obtained from several commercially available coatings [à ¢Ã¢â€š ¬Ã‚ ¦]. Some values may differ because of the objective opinion of the investigator and the formulation. Some values are projected as expected where data was missing. These projections include chemical resistance of sb 2k, 2k UV and 100% PUD formulations. The taber abrasion resistance at 500 cycles of the wb OMU coating is multiplied by a statistically calculated value, using know data from other formulations, to obtain a value with 1000 cycles. As shown in Graph 1 a 2k UV coating has super ior mechanical properties (KÃÆ' ¶nig hardness and taber abrasion). This is because a 2k UV coating has a high amount of cross-linking. This can be related to the 20ËÅ ¡ gloss of the dried film. High gloss usually means high cross-linkage. The solvent-based 2k formulations perform comparable with 2k UV coatings but are slightly less cross-linked as shown in the gloss and the hardness. The waterborne formulations are all significantly softer but tend to be slightly more mar and scuff resistant. However the initial gloss values of these waterborne coatings are somewhat lower. It can also be found that the 1k OMU formulations perform better than most non-reactive coatings. However they tend to yellow and perform worse than reactive (2k) coatings. This shows that the oxidative cross-linking cannot be compared with the reactive cross-linking of 2k formulations. It is somewhat surprising that 100% PUD performs comparable with a wb 2k formulation. However the chemical resist ance and the scuff resistance are lower showing the benefits of cross-linking. Conclusion If a hard coating with high gloss is wishful UV cured 2k coatings are the best choice. The best mar and scuff resistance is obtained with waterborne formulations but these show less hardness and chemical resistance. Solvent-based systems have an overall better performance than waterborne systems but VOC regulations restrict the amount of solvents used, causing a lower amount of solids possible. This results in less cross-linking hence less hardness and chemical resistance. Even though high VOC content solvent-based coatings perform better, VOC regulations cause a shift to waterborne formulations which are increasingly performing better. During the investigation it became clear that a good comparison between different PU formulations is a nearly impossible task because of the large amount of different possible formulations of each class. Waterborne PU coatings, when properly formulated, can meet the performance of solvent-based coatings, especially when compared with VOC-c ompatible solvent-based coatings but with a higher price. Eventually VOC regulations are further sharpened causing a market shift towards waterborne formulations, making them worth the money.

The Old Man and the Sea an Annotated Bibliography

Nick Choi Ms. Marshall English 11 Honors 18 January 2013 The Old Man and the Sea: An Annotated Bibiliography Ernest Hemingway’s novel, The Old Man and the Sea, can be construed as an allusion to the Bible and the struggles of Jesus based on Santiago’s experiences. Baskett, Sam S. Toward a Fifth Dimension in The Old Man and the Sea. The Centennial Review 19.4 (Fall 1975): 269-286. Rpt. in Short Story Criticism. Ed. Anna Sheets- Nesbitt. Vol. 36. Detroit: Gale Group, 2000. Literature Resource Center. Web. 13 Jan. 2013. Baskett provides a detailed analysis of the symbolic detail in The Old Man and the Sea ranging from biblical allusions to Santiago’s aura of â€Å"strangeness†, which he says contributes to Hemingway’s â€Å"fifth dimensional†¦show more content†¦After Simon and his fishermen face the loss, they then join Jesus in discipleship. Though Santiago faces his loss, he becomes more humble at the end, showing characteristics of a disciple for his efforts. Pratt, John Clark. My pilgrimage: fishing for religion with Hemingway. (Articles). The Hemingway Review 21.1 (2001): 78+. Literature Resource Center. Web. 13 Jan. 2013. Pratt covers the time-period between 1952 to the present and chronicles his own efforts to define and explain Hemingway’s use of religious allusion in his fiction. Pratt begins to correlate symbols in The Old Man and the Sea to the bible. For example, he mentions how Santiago refers to Saint James, who was a great fisherman who is also considered by some religions to have been the brother of Christ. He continues by explaining how the skeleton of the fish, a universal Christ symbol, is given to Pedrico, translating to Little Peter, to â€Å"chop it up and use in fish traps† (124). He concludes by stating that if people are not very careful to resolve universal paradoxes, they may well act like Hemingway’s ignorant tourists at the end who, knowing none of the details or the history of this symbolic struggle, mistake the skeleton of the marlin for that of its evil opponent, the shark. Pratt discusses many symbols and biblical allusions in The Old Man and the Sea. The analysis of the symbols is a strong support to prove that Hemingway used references from the bible to create hisShow MoreRelatedUnexpected Valor!1209 Words   |  5 Pagesonce said, â€Å"The one means that wins the easiest victory over reason: terror and force.† in 1933, at the peak of World War II. That is truly the way he ruled the people, by terror and force. Millions and millions of people were killed because one sick man came to power and convinced the multitude that the Jewish race was corrupt. 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Scottish Independence and the Referendum - Free Essay Example

Sample details Pages: 10 Words: 2980 Downloads: 1 Date added: 2017/06/26 Category Politics Essay Type Research paper Level High school Tags: Independence Essay Did you like this example? A general overview of the upcoming referendum on Scottish Independence. Introduction Described as Scotlands biggest choice since 1707 (McLean et al, 2013, p. ix), the upcoming referendum on Scottish independence will provide a pivotal event for the current and future populations of Scotland as voters get the opportunity to decide whether or not they are to remain a part of Great Britain or become an independent nation. As McLean et al (2013) have referenced, 1707 was a year of major importance in Scottish history because it saw the passage of the Union with England Act by the Parliament of Scotland, thus legitimising the reciprocal Union with Scotland Act which was passed by its English counterpart the previous year (Davis, 1998). Don’t waste time! Our writers will create an original "Scottish Independence and the Referendum" essay for you Create order The Acts of Union have now stood for more than three centuries and, although there have been proposals to challenge it in recent years, this is the first time that the Scottish public have been given the opportunity to vote on the issue in a formal referendum. This essay will examine the issue of Scottish independence by providing an insight into the historical and political events that have led to the 2013 proposal to hold a referendum on the issue. It will also look in depth at the campaigns for and against Scottish independence in order to assess the approaches that each one has taken in order to sway voters towards their individual cause. This will ultimately facilitate the drawing of the conclusion that Scottish independence has the propensity to fundamentally alter the political landscape of the entire international community rather than being limited to a British and European context. However, although both campaigns relating to the referendum are fundamentally flawed, t he choice made by the Scottish people will decide the nations fate for the foreseeable future. Historical Background Although this referendum is the first in/out vote to be held in relation to Scottish independence in the 21st century, votes have previously been held over the issue of devolution. In both 1979 and 1997, Scottish devolution referendums were held with varying outcomes (Deacon, 2012). In the 1979 case, the yes vote did gain a majority but failed to attract 40% of the total electorate and therefore failed to achieve change (Dardanelli, 2006). However, in the 1997 referendum, there was clear majority support for both devolution of the Scottish Parliament, which was achieved in the Scotland Act 1998, and Parliament establishing the base rate of income tax (Dardanelli, 2006). In both instances then, there was significant support for the devolution of Scotland and important powers. As such, sovereignty has been an issue for some time, which is further reinforced by a study of cultural identity by Bechhofer and McCrone (2007). The study suggests that the Scottish people have come to feel more comfortable with the Scottish identity, with the British collective identity being weakened as a result, although it also noted that the relatively weak association between national identity, party support and views on constitutional change suggests that being Scottish is more cultural than political (Bechhofer McCrone, 2007, p. 251). According to the study, the sense of Scottishness has been growing exponentially in recent years and therefore the perceived demand for the referendum that the Scottish National Party (SNP) promised in its 2011 election manifesto (Leyland, 2013) has created a climate that is conducive to promoting and holding a vote that will decide the future of Scotland and, by extension, the UK as a whole. The immediate events that led to the referendum are established in a House of Commons (2013) report that states that the formation of the SNP majority government following elections in 2011 led to a climate that was conducive to negotiating a r eferendum for independence with the UK government, thus leading to the signing of the Edinburgh Agreement. The binding referendum that was introduced in the Agreement was then introduced formally in the Scottish Independence Referendum Bill on 21st March 2013 and the date for the vote was established as 18th September 2014 (House of Commons, 2013). It was subsequently passed on 14th November 2013 after it was agreed that the question of independence would be framed as Should Scotland be an independent country? (House of Commons, 2013, p. 5). Should the result ultimately be a yes vote then independence will occur on 24 th March 2016 (House of Commons, 2013). Although this brief timeline is heavily fact based, it provides an outline of the process that underpins the referendum at the present time and introduces a timescale for the process of achieving independence should the outcome of the referendum be a yes vote. This is of vital importance because it provides more than a year to establish the practicalities of independence and secure political links and alliances in order to create a stable nation. However, there are no official provisions in place for independence at the present time, thus rendering the political landscape an important element for analysis in a general overview of the referendum. The Political Landscape The political complexities that are attached to the referendum and indeed Scottish independence should the majority of the electorate vote yes to the established question are extensive. For example, Maxwell (2012, p. 13) raised the following political issues that would, by necessity, be asked of the government: How could Scotlands credit rating absorb the weight of Scotlands debt legacy from the United Kingdom? How could Scotland be sure it would be admitted to the European Union? How could Scotland afford to start an Oil Fund when its budget would be in net fiscal deficit? Of course, asking such questions immediately after the SNP was able to gain a majority government made it virtually impossible to offer coherent and accurate answers to these issues. However, there are certainly major concerns with the political implications of a complete Scottish divorce from Great Britain: The Scottish vote is of almost equal importance to people in the rest of the UK and to the UKs trad ing and treaty partners including the European Union (EU), the Council of Europe and NATO (McLean et al, 2013, p. ix). Although there is no suggestion that Scotland will not seek to move forward without treaties in place with any of these wider political entities, the issue is one of sovereignty and somewhat ironically mirrors the UKs wider struggle for British sovereignty with the European Union (Gifford, 2010). As such, it may provide an opportunity to negotiate and redefine boundaries with the EU but, regardless of whether that opportunity does present itself, ministers will negotiate for an independent Scotland and therefore will be doing so with a view to achieving the best agreement for the individual country. Leading on from the issue of sovereignty, there have been political moves towards preparing for an independent political nation within Scotland. For example, on 16th June 2014 a draft Constitution has been released by the SNP so as to establish the parameters of sovereignty. The drafting of a Constitution for an independent Scotland has also gone some way to addressing some of the political issues that surround the referendum. For example, upon its release to the media, ministers highlighted its nationalist sentiment: Sturgeon said enshrining the sovereign will of the people gave legal meaning to the nationalists major complaint about the structure of the UK, where parties without a mandate from Scottish voters could make laws which affected them (Carrell, 2014). However, the draft Constitution also stressed its adherence to both European and international law (Carrell, 2014), thus suggesting that the SNP are committed to ensuring that political links are formed with the European Union in order to prevent its isolation in the wake of independence from the Westminster political structures. Indeed, the Yes Campaign has addressed this issue on its website, stating that Scotland already is part of the EU so there is no doubt that we me et all the requirements for membership, and with our energy and fishing resources it is clearly common sense, and in the interests of the EU, that Scotlands place in the EU continues seamlessly (Yes Scotland, 2013). This anticipated seamless transition into an independent member state of the EU is highly complex with further facets addressed by the Yes Campaign in its white paper for an independent Scotland. As such, it is necessary to take a closer look at the campaign and the arguments made within it. The Yes Campaign The Yes Campaign, which is also known as Yes Scotland, is the campaign established to project the side of the argument in favour of independence and is therefore promoting issues that suggest that Scotland would be better off as a sovereign nation. For example, a recent article that appeared on the campaigns website stressed the importance of Scottish sovereignty for the future of the nation. Gilmartin (2014) stated that Scotlands young people want to secure the best possible prospects for the future, but we dont yet have the powers we need in Scotland to create more jobs and opportunities for the younger generation here. This taps into the general belief that the Westminster government is removed from the people of Scotland, is unelected by them and therefore does not represent their best interests (McLean et al, 2013). In establishing a statement of need, this is designed to appeal to the generation of voters who would essentially have to endure the consequences of the outc ome and would therefore underscore the need to cater for their own futures. The campaign is not just limited to targeting specific groups of voters who are likely to turn out though. Instead, it provides a multifaceted appeal that covers a whole range of interests and specifically Scottish issues. For example, the draft Constitution incorporates environmental protection issues, the needs of the Scottish islands, the safeguarding of children and the determination of income tax levels (Carrell, 2014). As such, it has been founded upon issues that are important to the Scottish people and therefore stresses the best interests of the nation. However, the Yes Campaign has been the target of extensive criticism as a direct result of its links to the SNP, with Jacobs (2012) highlighting fears within other Scottish political parties that suggested that the Yes Campaign would be an SNP vehicle and therefore a political tool to secure power. Although this is based upon speculation and perception rather than fact, the SNP rhetoric is inextricably linked to the campaign as a direct result of its 2011 manifesto and commitment to holding the referendum so as to achieve Scottish independence. As such, this criticism has remained salient throughout. In addition, there has been criticism of some of the claims made by the campaign and politicians who support it. For example, Riley-Smith (2014) drew attention to criticism of the claims that Scotland would be wealthier than the UK after independence: Prof John Kay, formerly on the First Ministers Council of Economic Advisers, said it was a mistake for voters to think claims of an independent Scotland being one of the worlds wealthiest nations would mean more cash in their pockets. He warned that using GDP as a measure fails to reveal how much money bypasses locals by going straight to foreign companies Such sweeping statements are misleading and would provide a false premise for economic conditions after indepe ndence should the electorate choose to favour the yes vote. It also provides an inaccurate view of the state of the Scottish economy at the present time and how it would benefit the population. However, this is one of many issues that have been addressed by the No Campaign. The No Campaign The No Campaign, which is also known as the Better Together campaign, has largely been based upon the premise that Scotland enjoys major advantages because it is a part of the UK and it is likely to lose them should it choose independence. For example, the campaign points to the UKs rebate, which is worth  £135 per household, as a major benefit of membership of the UK that would be lost should it seek to renegotiate with the EUs leadership in the wake of the referendum (Better Together, 2013). It has also raised questions about the principles behind the Yes Campaign, such as its determination to retain Sterling as the currency of choice rather than joining the Euro (Scottish Government, 2013). For example, it has pointed out that there is no guarantee that Scotland will be able to remain a member of the EU if independent and neither can the government guarantee that it would not have to adopt the Euro should negotiations prove successful (Darling, 2014). As such, it challen ges the hypothetical measures that the Yes Campaign has drawn attention to. It also questions the assertion that Scotland would be economically better off alone, with notable pro-UK figures highlighting that Scotland is still in economic recovery and is ill-equipped to compete in global markets on an equal footing with the UK let alone other nations (Scotland Now, 2014). However, Maxwell (2012) undermines the credibility of the figures used to draw such conclusions, stating that the data on which the No Campaign has assessed the prospects for the Scottish economy is fundamentally flawed. He states that the GERS (Government Expenditure and Revenue in Scotland) reports on which figures are based often utilise data that is two years old and therefore carries a warning about its accuracy in order to highlight the fact that major discrepancies may exist. Similarly, the Better Together campaign has been accused of failing to appeal to working people, who are now switching their vote s to the Yes Campaign, in recent months (McAngus, 2014) and so will need to strategically rethink their appeal if it is to succeed in ensuring that Scotland remains a part of the UK. Conclusions In conclusion, this detailed but general overview of the Scottish independence referendum that is to be held in September 2014 effectively highlights the historical and political background to the vote, the political implications that could arise from a vote for independence and the nature of the campaigns that have been launched for both sides of the argument. Taking the political landscape first, the analysis does identify significant issues that must be resolved if there is ultimately a yes vote, particularly the nations membership of the European Union and international organisations like NATO. However, it is impossible for the government to be able to answer all questions related to these issues while the advent of independence is still hypothetical. No agreements can be put in place until after the referendum and so, although these problems must be considered in advance and proposals and contingency plans put forward, no negotiations can take place until afterwards. Thi s also goes some way to explaining why the campaigns for and against Scottish independence are flawed to a degree. The debate is currently based upon perceptions, opinions and data that is several years old so it is no wonder that the issues being discussed are so contentious and spark strong feelings from both sides. Both campaigns are well organised and offer salient points but their ability to influence the vote will only be measured following the referendum. In short, the general overview of the referendum for Scottish independence to date is multifaceted and highly complex but it is also able to conclude that it will alter the political landscape of the entire international community rather than being limited to a British and European context. Relations with Scotland will change based on its own sovereignty rather than its dependence on Westminster if the electorate votes for independence. However, no matter what the outcome, the likelihood is it will be this generations final opportunity to determine Scotlands future and so no vote should be taken lightly. Bibliography Bechhofer, F. McCrone, D., (2007). Being British: A Crisis of Identity? The Political Quarterly, 78:2, pp. 251-260. Better Together, (2013). The EU. Better Together. [Online] Available at: https://bettertogether.net/the-facts/entry/eu-membership [Accessed 17 June 2014]. Carrell, S., (2014). SP Publishes Draft of First Constitution for an Independent Scotland. The Guardian. [Online] Available at: https://www.theguardian.com/politics/2014/jun/16/scottish-constitution-first-draft-issued-nicola-sturgeon [Accessed 16 June 2014]. Dardanelli, P., (2006). Devolution: Between Two Unions. Manchester: Manchester University Press. Darling, A., (2014). Leave the UK, Leave the UK Pound. Better Together. [Online] Available at: https://www.bettertogether.net/blog/entry/leave-the-uk-leave-the-uk-pound . [Accessed 17 June 2014]. Davis, L., (1998). Acts of Union: Scotland and the Literary Negotiation of the British Nation, 1707-1830. Stanford: Stanford University Press. Deacon, R., (2012). Devolution in the United Kingdom. Edinburgh: Edinburgh University Press. Gifford, C., (2010). The UK and the European Union: Dimensions of Sovereignty and the Problems of Eurosceptic Britishness. Parliamentary Affairs, 63:2, pp. 321-338. Gilmartin, K., (2014). Young People Have the Most to Gain From Independence. Yes Scotland. [Online] Available at: https://www.yesscotland.net/news/young-people-have-most-gain-independence [Accessed 17 June 2014]. House of Commons (2013). International Development Committee: Implications for Development in the Event of Scotland Becoming an Independent Country. London: The Stationary Office. Jacobs, E., (2012). Yes Scotland Campaign in Chaos as Fears Spread of an SNP Hijack. Left Foot Forward. [Online] Available at: https://www.leftfootforward.org/2012/06/yes-scotland-campaign-in-chaos-as-fears-spread-of-an-snp-hijack . [Accessed 15 June 2014]. Leyland, P., (2013). Referendums, Popular Sovereignty and the Territorial Constitution. In R. Rawlings, P. Leyland A. Young eds. Sovereignty and the Law: Domestic, European and International Perspectives. Oxford: Oxford University Press, pp. 145-164. Maxwell, S., (2012). Arguing for Independence: Evidence, Risk and the Wicked Issues. Berwick: Luath Press. McAngus, C., (2014). Better Together Campaign Creates a Strategic Dilemma for Scottish Labour. London School of Economics and Political Science. [Online] Available at: https://blogs.lse.ac.uk/politicsandpolicy/better-togethers-create-a-strategic-dilemma-for-scottish-labour . [Accessed 17 June 2014]. McLean, I., Gallagher, J. Lodge, G., (2013). Scotlands Choices: The Referendum and What Happens Afterwards. Edinburgh: Edinburgh University Press. Riley-Smith, B., (2014). Alex Salmonds Ex-Economic Adviser Criticises Claim at Heart of Poster Campaign. The Telegraph. [Online] Available at: https://www.telegraph.co.uk/news/uknews/scottish-independence/10771192/Alex-Sal monds-ex-economic-adviser-criticises-claim-at-heart-of-poster-campaign.html [Accessed 17 June 2014] Scottish Government, (2013). Scotlands Future: Your Guide to an Independent Scotland. Edinburgh: The Scottish Government. Scotland Now, (2014). Independence Referendum: Harry Potter Author JK Rowling Shows Her Support for Better Together Campaign. Scotland Now. [Online] Available at: https://www.scotlandnow.dailyrecord.co.uk/news/harry-potter-author-jk-rowling-3673783 [Accessed 17 June 2014]. Yes Scotland, (2013). Will Scotland be in the European Union? Yes Scotland. [Online] Available at: https://www.yesscotland.net/answers/will-scotland-be-european-union [Accessed 17 June 2014].

Compare and Contrast Three Major Philosophical Viewpoint...

The question that the textbook poses at the very beginning of chapter four is, â€Å"Are you Free† (Chaffee, 2013, p. 172)? Most people would look at this question as pretty cut and dry and would answer a resounding yes. Philosophically speaking, it is not that easy of an answer. You have to be willing to look at the question with an open mind, and ask yourself if the choices you make are truly free or if they are governed by forces outside of your control. In the following paper I intend to compare and contrast the three major philosophical viewpoints regarding this question, and come to a conclusion on which I find to be the right answer. I believe the best way to do this is to first lay out the beliefs of each viewpoint. Once I have done†¦show more content†¦176). The determinists believe that people are molded by outside forces such as human nature, their environment, psychological forces, and social dynamics (Chaffee, 2013, p. 173). Human nature refers to the inborn nature that every person is genetically hardwired with. In other words we can’t have free choice because we cannot alter our fundamental character (Chaffee, 2013, p.173) Being a product of our environment is saying that we make choices based off of life experience. An example would be a person who grew up in an environment where he was taught to give to charity as opposed to someone who was raised in the projects and commits an armed robbery to provide for himself. According to determinists in either case the person isn’t responsible for their actions because they didn’t choose their environment and were molded by forces beyond their control (Chaffee, 2013 p. 173). Psychological forces refer to the deep psychological impulses that govern our choices and they are formed by people’s earliest relationships and experiences. Based on this point of view, people may think they are in control but in reality are being controlled by unseen psychological forces. An example would be if you were a habitual liar it really isn’t your fault because you are compelled to lie by psychological forces over which you had no control (Chaffee, 2013, p.173). Determinists also believe that we make choicesShow MoreRelatedPhilosophy comparing libertarianism, compatibilism, and determinism2363 Words   |  10 Pagesby forces outside of your control. In the following paper I intend to compare and contrast the three major philosophical viewpoints regarding this question, and come to a conclusion on which I find to be the right answer. I believe the best way to do this is to first lay out the beliefs of each viewpoint. Once I have done this I can compare them, and give my insight on which I believe to be right. The first viewpoint regarding human freedom is determinism. The thesis of the determinist isRead MoreGeorge Wilhelm Friedrich and the French Revolution Essay1881 Words   |  8 Pageswrote Phenomenology of Spirit, his first major book. 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Previous studies have been done about the theories and methods of Durkheim and Weber, and their works have also been studied for many times from different viewpoints, such as the nature of humanRead MoreAmerican Involvement During The Holocaust2387 Words   |  10 Pagesfar-reaching, and the analyzations and comparison of some of these can lead to a greater understanding of not only the happenings of the Holocaust itself but also the social reactions to the event by the many groups involved. Four sources I intend to compare include Martin Gilbert’s Auschwitz and the Allies, David Wyman’s The Abandonment of the Jews: America and the Holocaust, 1941-1945, W.D. Rubinstein’s The Myth of Rescue: Why the Democracies Could Not Have Saved the Jews from the Nazis, and Peter Novick’sRe ad MoreThe Roman Way, by Edith Hamilton2453 Words   |  10 Pagesthe greatest literary figures from around the time of 200 B.C. to 100 A.D. Some of these writers include Cicero, with his vast assortment of letters; Catullus, the romantic poet; and Horace, the storyteller of an unkind and greedy Rome. They are three affluent white men from around the same period of time, although each of them had very different styles of writings and ideologies. Edith Hamilton does a great job in translating the works of many different authors of Roman literature, discussingRead MoreEssay on Asian Philosophies of Critical Thinking5513 Words   |  23 Pagesto emerge in different cultures, I started to develop my own viewpoints and answers. I started to wonder about the truth between the real differences of Asian and Western philosophies of critical thinking. This extended essay, intended to be a research and investigation, bearing the title  ¡Ã‚ §Asian Philosophies of Critical Thinking: div ergent or convergent to Western establishments? ¡Ã‚ ¨ is in fact however merely just a summary of my viewpoints and answers which I have developed throughout the years. Read MorePHI 445 Personal Organizational Ethics Essay4557 Words   |  19 Pagesself-interest is a critical element in a society’s economic development. Karl Marx, by contrast, argued that society functions better when each of us is more community oriented. Pretend you are either Adam Smith or Karl Marx, and explain economic recession from these perspectives. Discuss when greed and selfishness in businesses go too far and become a hazard to society. Stepping back into your shoes again, contrast your system of values and ethics concerning greed and self-interest with the systemRead MoreEnglish Preromanticism: William Blake3403 Words   |  14 Pagesof this purpose, the following aims are critically set: 1. To analyse the William Blake’s criticism of his own time, society. 2. To study ideas, themes in the poem books â€Å"The Songs of Innocence† and â€Å"The Songs of Experience† 3. To compare the statements from the poems with the situation in the real life The methods. The theoretical analysis of the problem is based on different literary sources, their analysis, comparisons and critical evaluation. When it comes to the disposition looksRead MorePolitical Philosophy and Plato Essay9254 Words   |  38 Pagescontradictions. It was designed to force one to examine ones own beliefs and the validity of such beliefs. In fact, Socrates once said, I know you wont believe me, but the highest form of Human Excellence is to question oneself and others. Philosophical beliefs The beliefs of Socrates, as distinct from those of Plato, are difficult to discern. Little in the way of concrete evidence exists to demarcate the two. The lengthy theories given in most of the dialogues are those of Plato, and some scholarsRead MoreCapital Ventures : Opportunities For Renewable Energy Investment10254 Words   |  42 PagesFirm Opportunities in the Renewable Energy Sector 10 2.3 Market Opportunities for VC Firms in Renewable Energy 12 2.4 Empirical Evidence 13 2.5 Conceptual Framework 16 Chapter Three: Research Methods and Data Description 20 3.1 Introduction 20 3.2 Research Philosophy 20 3.2.1 Ontology 20 3.2.2 Epistemology 21 3.2.3 Philosophical Stance 21 3.3 Research Design 22 3.4 Data Collection Instrument 22 3.5 Data Description 23 3.6 Method of Data Presentation and Analysis 23 3.7 Ethical Considerations 23 Chapter

Characteristics of the Romantic Music Period Essay

It is arguable that some Romantic music made greater demands upon its listeners than did music of previous historical periods. What were those demands? Why did these changes come about? And what strategies can you formulate for listening to this music today? In consideration of the musical changes present in the Romantic era, this essay will contend that these changes are very much related to the wider social and technological changes in society around that time. Thus, it is important to identify the broad time period encompassed by this era. The definition of Romanticism in The New Grove Dictionary of Music and Musicians is: â€Å"A movement or, more commonly, period of cultural history. When understood as a period,†¦show more content†¦The improved piano was critical to his displays of technical prowess. Without it he would not have been able to play pieces as demanding on the instrument. The â€Å"hitherto unimagined difficulty† [x] of his Vingt-quatres grandes à ©tudes pour le piano[xi], was considered too much by the composer, he revised the Études and later published his Études dexà ©cution transcendante[xii], – the latter still ferociously difficult but surpassed in that respect by the former. Given that a key feature of Liszt’s playing style and compositions was technical skill, one could argue Liszt could not have been the performer, or composer, he was, in the preceding century. Nicolà ² Paganini was another virtuoso of the highest calibre – a violinist[xiii]. He, too, gave fantastic performances to rapturous crowds in numerous countries. William Ayrton, editor of The Harmonicon, remarked that: â€Å"[H]is powers of execution are little less than marvelous, and such as we could only have believed on the evidence of our own senses; they imply a strong natural propensity for music, with an industry, a perseverance, a devotedness and also a skill in inventing means, without any parallel in the history of his instrument.† [xiv] Paganini, similar to Liszt, composed works for his instrument, which were considered some of the hardest in its repertoire[xv] - pushing the boundaries of the Romantic violin to previously unseenShow MoreRelatedRomanticism in Music1653 Words   |  7 Pagestwentieth century. Drastic changes in the arts took place over the course of this time period. During this movement, much emphasis was placed on emotion and imagination in the arts. Prior to the Romantic Period, music had been seen more as recreation and njoyment than as an integral part of culture. 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The movement started as an artistic and intellectual reaction against aristocratic social and political norms of the Enlightenment and against the scientific rationalization of nature. During the Enlightenment literature and art were primarily created for the elite, upper classes and educated, and the language incorporatedRead MoreThe Age Of Enlightenment : Classical, Romantic, And Modern1023 Words   |  5 PagesThroughout history, music has transformed and evolved from style to style with numerous contributions by many composers and musicians that have dedicated their lives to changing the music world. We saw huge changes in styles between each musical era. From 1750 until the present day, there have been three major musical eras: classical, romantic, and modern. All three of these eras have brought new and innovative ideas to the world, but they are all drastically different stylistically, philosophicallyRead MoreBallet and Giselle781 Words   |  4 Pagesconsidered one of the great Romantic ballets. Romantic era was late 18th and early 19th centuries. The period mainly does not follow rational movements but rather Romantic ideas in art influence the ballets. Ballets in Romantic period focus on the conflict between man and nature where as others try to bring difference to ballets from other nations. Ballerinas stand in the forefront compared to male dancers. Giselle is one of the most popular ballerinas of the period and separate identity of theRead MoreAn in-Depth Analysis of the Use of Specific Musical Concepts in Correlation to the Romantic Period1310 Words   |  6 PagesThe Romantic Era was a period of great change and emancipation. It moved away from strict laws by allowing artistic freedom, experimentation and creativity. Romantic music evolved from ideas established in earlier periods, such as th e classical period, and went further through the use of expression and passion. New musical concepts evolved due to current trends and the music was deeply personal and nationalistic. Musical concepts including pitch, tone colour and dynamics and expressive techniquesRead MoreInfluences of the Romantic Period1575 Words   |  7 PagesInfluences on the Romantic Period Romanticism spawned in the late 18th century and flourished in the early and mid-19th century. Romanticism emphasized the irrational, the imaginative, the personal, the spontaneous, the emotional, the visionary, the transcendental, and the individual. Romanticism is often viewed as a rejection of the ideologies of Classicism and Neoclassicisms, namely calm, order, harmony, idealization, rationality and balance. Some characteristics of Romanticism include: emotion

Company Law The Business Structure

Question: Describe about the Company Law for The Business Structure. Answer: 1. In a partnership type of business structure, two or more people, carry on a business, with a common goal of earning profit. A mutual participation forms the participations is enough to form a partnership, as was held in the case of Green v Beesley[1]. The necessary elements of a partnership include the carrying on of a business, a commonality, as well as, a view to earning profits. A business should be a going concern, instead of a sole isolated transaction, to establish a partnership. There has to be mutuality in the interests, obligations and rights of the individuals, to formulate a partnership. Most importantly, the business should be run by the individuals to earn a profit. The prima facie evidence for the existence of a partnership is the sharing of the profits. The percentage of sharing the profit is mostly equal, unless a different percentage if prescribed in the partnership agreement. In the given case, Aysha and Dilara were operating a partnership form of business structure. Aysha and Dilara, are two people, operating a common business of winery, as a going concern, to earn profits. Further, they share the profits equally. These fulfill the criteria for a partnership. So, from the above analysis, it can be clearly concluded that type of business organization operated by Aysha and Dilara was a partnership. In a partnership type of business, there is a restriction for transfer of the interest of a partner[2]. Unless and until, all the partners agree to the transfer of interest, such an interest cannot be transferred in a partnership. Further, to add a new partner in the partnership firm, the consent of each of the partners is required. And so, there is a difficulty in transfer of ownership in this business form. So, there is a restriction on both entry, as well as, exit of a partner from the partnership firm. In order to sell a part of the business, in a partnership, all the partners have to agree to it. The major disadvantage of this business type is that there is a high risk of dispute arising from friction, as well as, disagreements amongst the partners. So, when there is a dispute amongst the partners, the business of the firm can come at a standstill. In the present case, Dilara and Aysha had been approached by Polat to buy a part of their Winery. Being a partnership firm, Dilara and Aysha are eligible to do so, as long as both of them are willing to go forward with the sale. But, upon the sale of the part of winery, Polat would become a partner in their partnership firm. So, in the future, the profits would be shared by Dilara, Aysha and Polat. And the business would be run by these three. But being a partnership firm, the control of business would be shared amongst these three. But, when a dispute arises in future, a deadlock can occur in the business. In a company form of business, generally there is no restriction regarding the entry or exit of a member, unless specifically provided. To become a member of the company, a person can buy shares in the company, and attain membership. A member can transfer his shares to another person and such transfer is considered as valid, as long as such transfer is registered as provided in Section 1072F[3] of the Corporations Act, 2001[4]. As long as the transfer of shares is done as per the will of the person, Section 1071B(5)[5] of this act, allows the transfer of shares in a company. In case of a dispute on any matter in a company, the company does not reach a standstill, because of the majority rule. In a company, to pass any matter, generally the majority rule is applicable. So, in case of a dispute, the item pertaining to the dispute can still be passed by a majority of the members, and so the business continues to run. So, the disadvantage which is faced in the company regarding the deadlock of communication can be resolved by adapting corporations act, as majority rules is applicable there. So, in the present case, Aysha and Dilara should opt for a company as a business structure, so that, in case of future disputes, the matters can be resolved. Further, in case of a company, there is no restriction regarding the transfer of share/interest. So, even if one of them disagrees, the other can go through with this sale to Polat. 2. A shareholder of a company has the right to share the earnings or profits of the company, and payment of dividend is the way in which the shareholders share the earnings and profits, and is a reward for such shareholders. Section 254T[6] of the Corporations Act, 2001 provides that a company should not pay the dividends unless and until the assets of the company exceed its liabilities before declaration of the dividend and such excess is enough to pay the dividend; as a whole, the payment of such dividend is reasonable, as well as, fair to the shareholders of the company; and such payment does not significantly prejudice the ability of the company to pay off its creditors. Section 588G[7] of this act contains the duty of a director to prevent insolvent trading of the company, and prohibits the incurring of such debts which result in the insolvency of the company. So, as long as both these sections are complied with, the right of the shareholder regarding the attainment of dividend continues. The director of the company has to discharge his duties, and exercise his powers for a proper purpose and in good faith[8], which is in the best interest of the company, as provided by section 181 of this act. Section 180 provides that a director has to discharge his duties, and exercise his powers with diligence and a degree of care, which a prudent person in similar circumstances would exercise[9]. This section further provides that a director has to make the business judgment in good faith and for a proper purse and should not have a material personal interest in the matter of judgment. When a director breaches his duty, which is owed towards the shareholders or the company, the shareholder has the right to bring legal action against such director. Further, in case of oppressive, unfair discriminatory or prejudicial conduct is established, a shareholder can seek relief[10] as per Section 233 of this act. Through this section, the court has the power to restrain a director from doing a specific act, or from engaging in specified conduct. In the present case, Leo had the right to receive dividend. The company had increased revenues of 300%. The two executive directors of the company paid themselves a huge bonus, along with a pay raise. They also leased two expensive cars for their personal use. The directors have a duty of care towards the company and have to act in a diligent manner. But here, the directors failed to discharge their duties in the manner stated in the Corporations Act. They personally benefitted themselves from the profits of the company, instead of sharing this profit with the shareholders of the company. Even though it is in the discretion of the directors to declare the dividend, but in case, the provisions of the Corporations act are fulfilled, it is their duty to pay such dividend to the shareholders. So, in this case, Leo has the right to approach the court against this breach of duty by Amanda and Ruby. Further, he can also request the court to restrain Amanda and Ruby from removing Leo from the Board. 3. Section 180 of the Corporations Act, 2001[11] provides that the director of a company has to discharge his duties, as well as exercise his powers in a diligent manner and with a degree of care, which a prudent person in similar circumstances would exercise. Further, a director has to make the business judgments for a proper purpose, in good faith and should not have any kind of material personal interest in the matter of judgment. Also, the directors are required to inform themselves about the matter of judgments, which are believed to be reasonably appropriate and finally make such a decision which is in the best inertest of the company. Section 181[12] of this act provides that a director of a company has to discharge his duties, as well as exercise his powers for a proper purpose and in good faith, which is in best interest of the company. Section 182[13] of this act contains the provisions which prohibit a director from using their position in an improper manner so as to gain an advantage for someone else or themselves, or in a way which is detrimental to the corporation. Section 183[14] of the Corporations Act, 2001 provides that an individual, who attains information by being the director of the company, should not use this information in an improper manner so as to gain an advantage for someone else or themselves, or in a way which is detrimental to the corporation. Section 588G[15] of this act contains the provisions regarding the duty of a director to prevent insolvent trading by a company. The applicability of this section is dependent on the person being a director at the time of incurring the debt. Further, the company becomes insolvent due to incurring such a debt and there are reasonable grounds to suspect that the result of such transaction would be make the company insolvent, or is already insolvent. Being a director, a director has to be constantly aware about the financial position of the company to prevent insolvent trading. Section 189[16] of this act contains the provisions regarding the reliance made by the directors for the information provided by the others. In case a director of the company, relies on the information, expert or professional advice, which has been provided by: Companys employee who is believed, on reasonable grounds, to be competent, as well as reliable regarding the relevant matter, as per the director. An expert or a professional adviser who is believed, on reasonable grounds, to have the expertise or professional competence, as per the director. Some other director or an officer of the company regarding the relevant matter, which are within the authority of such director or the officer. A committee of directors, where the director did not serve regarding the matters which were within the authority of the committee. The director has to show that such reliance was made in good faith, as well as, after making a proper assessment of the advice or the information, as per the knowledge of the director regarding the operations and structure of the company. And the reasonableness of such reliance has to be shown and this determines whether or not the director has performed his duties as per provisions of this part. Section 286[17] provides that the company has to keep the adequate financial records which correctly record, as well as, explain the transaction, along with the financial position and performance of the company. The section further states that such financial records should enable the true and fair preparation, as well as, audit of the financial statements of the company. A failure on part of the director to ensure the fulfillment of this section, results in contravention of the Corporations Act. And in case of an insolvent trading action is brought against a director of the company, it is generally assumed that throughput the entire period of the insolvency, the company failed to keep the necessary financial records. Section 347A[18] of this act provides that the directors of the company have to pass a solvency resolution, within two months after each of the review date for the company. There are numerous consequences, as well as, penalties applicable on a director due to insolvent trading, and this includes civil penalties, criminal charges, as well as, compensation proceedings. The civil penalties are provided in the Corporations Act for contravention of the insolvent trading provisions, which includes pecuniary penalty for an amount up to $200,000. The criminal charges are applicable in case it is established that the insolvent trading resulted from dishonesty. So, along with penalty of $200,000 or imprisonment of up to 5 years, the criminal charges would apply on the director. An action initiated by the liquidator, creditor or the ASIC, for the amount lost by creditors results in a compensation order against such director, along with the civil penalties. Further, the breach of directors duty also attracts the civil penalties as stated in Section 1317E[19] of this act. In the matter of Australian Securities and Investments Commission v Edwards[20], the judge held that such a debt involves any act or omission, or such other circumstances, which can cause the company to owe a debt. In the landmark case of Southern Cross Interiors Pty Ltd (in liq) v Deputy Commissioner of Taxation[21], the judge held that the solvency of the company, for the purpose of Corporations Act, is ascertained by considering the financial position of the company, as a whole. The judge in the case of Elliott v Australian Securities and Investments Commission[22] held that a director would have contravened the provisions of this act by not preventing, or by failing to prevent the company from incurring the debt when reasonable ground was present regarding the insolvency of the company. The judge further held that it was not required to prove that each director failed his duty. The facts of this case are very similar to the facts of the case Commonwealth Bank of Australia v Friedrich[23]. In this case the court held the director liable for the debts which were incurred by the company as the director failed to prevent the insolvency of the company due to incurring such debts. The judge held that as a director of the company, it was his duty to know about the financial position of the company and had to read the reports provided to him, on which reliance was made regarding the soundness of the financial position of the company. And this added to the culpability of the director. Further, in the case of Metal Manufacturers Limited v Lewis[24], it was held by the court that the directors of the company are not allowed to merely surrender their duties, which are owed to the company, as well as, the corporation, by leaving a single director or general manager to discharge their responsibilities for them. On the basis of above, the three directors of the company have breached their duties as a director of the company, as well as their duties to prevent the insolvent trading. A director has to check for the soundness of the financial statements of the company and cannot use failure of reading such statements as a defense. Further, as provided in the above cases, a director cannot discharge their responsibilities by dumping all the responsibilities on one person. To conclude, the directors of TACH Ltd have breached their duties and are liable for civil penalties as stated above. 4. The accounts of a company are audited by the auditors and these audited accounts are used by the audit clients. The auditor of such a client owed the duty of care as per the terms of the contract, as well as, in tort, to its audit clients[25]. But, it is often seen that people other than the audit clients rely on such audited accounts. The creditors, along with the potential investors, are the most frequent users of these audited accounts of the company, so as to assess the value of the company, or the creditworthiness of the company. In the case of Caparo Industries plc v Dickman[26], the House of Lords restricted the extension of the auditor liability to the third parties, apart from their audit clients. According to the approach of privity test, the auditor owes a duty of care in case of a tort, only when there is a privity of the contract between the parties. And so, no liability is owed to the third parties in cases of tort. This approach was established in the case of Ultramares Corporation v Touche[27]. The judge in this case held that by holding the auditor liable to the third parties for a tort, other than the client of such auditor, the auditor would be exposed to indeterminate amount of liabilities for an indeterminate time to the indeterminate class of people. Though, in some case, going beyond the privity test, the liability of the auditor is set for the third parties and the test of existence of duty of care is applied. The available test regarding the existence of duty of care was provided in the case of Haig v Bamford[28]. The foreseeability regarding the use of the financial statement, as well as, the auditors report has to be established, along with the reliance. There should be an actual knowledge regarding the use and reliance of such statement by the limited class of people. And, there must be an actual knowledge regarding the plaintiff who would use, as well as, rely on the auditors statement. So, a third party has to prove one of these three points to establish the liability of the auditor for a tort. Due to the rising trend of litigation, the auditing profession has to huge costs on such ligations[29]. The possible risks as well as costs of a huge business could act has a prohibition for the audit firms to take up the audit of such businesses, due to the risk of litigations. And so, the auditors are only responsible to the audit clients. There is a growing consensus that the auditors should be held liable to the third parties in all the cases and the decisions of Caparo Industries plc v Dickman should not be followed anymore. The reason behind this consensus is that the auditors should be accountable for the statements they prepare, irrespective of the party for which they prepare such statements. The above stated tests, available for the third party, would restrict the duty of care which is owed by the auditors to the third parties. And so, this concept is wrong and should not be adopted, to bring fairness, as well as, reasonableness regarding the accountability of the auditors.

Threats in Breadtalk Group Limited-Free-Samples for Students

Questions: 1.Opportunities and Threats in the External Environment for Bread talk Group Limited 2.Discuss about the Creative work Environment and Innovation. Answers: 1.BreadTalk Group Limited was established in 2000, working in the food and beverage industry. Our primary objective is to produce freshly baked products across all our outlets. At BreadTalk we operate in three segments which include, restaurant segment bakery segment Food segment. We seek to provide our customers with unique food concepts embroidered in different culinary skills from different local cultures surrounding our customers. We believe in creating value for you in the types of food we offer. BreadTalk business has over 850 bakeries and has extended operations in 26 international countries. Dr. George established this business, and we have managed to employ 7000 employees in all the outlets. Our Location We are headquartered in 30 Tai Seng Street #09-01 Paya Lebar Singapore, 534013 We also have stores located in Singapore include Tiong Bahru Plaza, The Centerpoint, 313 Somerset, Citylink, City Square, Great World City, Paragon, Plaza Singapura, Raffles City and Singapore Cruise Centre Other franchising outlets are located in Hong Kong, Thailand, China, Malaysia and Taiwan. Operating Hours Weekdays 7 am-10.30 pm Weekends 8 am- 10.30 pm Telephone +65 68548336 - Customer inquiries and feedback +65 62856116- Recruitment purposes Opportunities International market Our market has expanded globally with consultants in Germany, Japan, Spain France and Twain. BreadTalk is grabbing the opportunity to take its culinary skills a notch higher in America, other parts of Europe and the African continent. Having had a good expansion in some countries, we now hope to grow our market in other continents as well. Having dominated the Asian and Middle East market, this is a great way to venture internationally. Diversification Having created a significant market share in the Asian region, there is an opportunity to diversify their products to include other market niches like fashion or garment. This is likely to increase the growth and earnings of the business (United States, 2008). Brand growth BreadTalk Group constitutes a family of 8 brands in daily food and bakery consumed in its region and outlets. This expansion has created an opportunity for growth. As asserted by Creative Educational Video Inc. Insight Media (Firm) (2009), with the new food cultures from other countries, there is an opportunity to grow more brands for the company. Through the reputable name that this business has created in franchising, there is a great opportunity in partnering with other countries to get franchising deals and grow the brand. Threats New entrants in food and beverage sectors BreadTalk business is likely to face threats from new competitors in the same industry, operating near our outlets. This may strongly affect the business earnings, in areas occupied by the new entrants (Seth, 2015). Competitors BreadTalk main competitors such as M.H. Alshaya and Four Leaves are likely to be a significant threat to the performance and growth of the business. These major competitors are likely to affect the positioning of the business. Strict regulations in foreign countries The threat of facing strict regulatory policies from other foreign countries is present. Each country has a different policy in operating business, and this may largely affect the existence of BreadTalk in international countries due to strict measures 2.Creative work Environment and Innovation Creativity refers to the value creation in a business where solutions are generated from new ideas. Innovation, on the other hand, involves improving and implementing new changes in the existing business. Creativity and innovation work together to create a competitive business in the market (Sloane, 2006). BreadTalk has embraced innovation in the business as part of their strategy to win the market and stay ahead of the stiff competition as well as establishing a creative environment Customized products At BreadTalk we pride in creative differentiation through producing fresh products in our outlets that are customized and localized to meet customer demands. Our vibrant team of culinary skills keeps developing new recipes in the different countries to bring out products that meet the diverse cultures of our customers. The management developed an in-house Research and Development program, where the team combines ideas to come up with different outstanding culinary recipes using quality products from all cultures. Every month we pride in providing a new pastry and other new collections in our products. We aim to meet every customers need in the food and beverage industry with localized flavors from local cultures. Exceptional internal network A creative and innovative environment at BreadTalk is created through creating a healthy relationship between the management and all stakeholders involved. These include outlets managers, partners, employees, and supplier. A healthy relationship has encouraged all the stakeholders to incorporate their ideas into the business, most of which have been implemented and have maintained our business on the competitive edge (Thompson, Choi, Kellogg School of Management, 2006). Employees are given the opportunity to give their ideas through the in-house Research and Development program. Every two weeks, employees meet in different teams depending on the three segments where they discuss on improving the business, give new ideas and discuss any issues arising in the business. This has largely contributed to exchange of new innovative ideas in the company that is well evaluated and implemented into the business plan (Sloane, 2006).From this teams, the idea of producing a new product every six months in every segment in BreadTalk was born. BreadTalk limited keeps up with new trends through producing a new product in the market after six months. References Creative Educational Video, Inc., Insight Media (Firm). (2009).SWOT analysis. Lubbock, Tex.: CEV Multimedia. Seth, C. (2015).Swot analysis. Namur: 50minutes. Sloane, P. (2006).The leader's guide to skills: Unlocking the creativity and innovation in you and your team. London: Kogan Page. Thompson, L. L., Choi, H.-S., Kellogg School of Management. (2006).Creativity and innovation in organizational teams. Mahwah, N.J: Lawrence Erlbaum Associates. United States, (2008).SWOT analysis: A tool for making better business decisions. Washington, D.C.: U.S. Dept. of Agriculture, Risk Management Agency