CompInnova System Project Requirements

CompInnova System Project Requirements The CompInnova venture is engaged upon the improvement of a creative review approach, with mechanized and manual capacities, for a composite and metallic airplane structures. Inside this report, venture necessities and details identified with auxiliary trustworthiness, harm fix and improvement of a vortex robot, are introduced and talked about in the accompanying request: A certified Phased Array (PA) strategy identified with the basic uprightness approach, is a progressed non-ruinous testing technique used to distinguish part disappointments (for example breaks), and can be utilized to survey the segment condition. It is introduced in section 2. An Infrared Thermography (IRT) strategy, likewise related the basic uprightness approach, is utilized to decide the nearness of imperfections by observing the progression of warmth over a surface, and is introduced in section 3. A Damage Tolerance (DT) basic respectability appraisal procedure is utilized to break load for a predefined deformity size, and foresee the necessary timeframe for a sub-basic imperfection to develop to the size that causes crack at given burden. The DT is introduced in part 4. Following the auxiliary honesty evaluation, a primer appraisal of the details of the fix module of the vortex robot is introduced in section 5, with the fix module visualized to perform scarfing or ventured lap fixes on composites just as holding fixes on metals. The fix module, just as the auxiliary uprightness appraisal frameworks, is a piece of a vortex robot, for which an itemized outline of the current best in class in NDT automated innovation is introduced in section 6. What's more, an outline of the decided task prerequisites and particulars identified with the proposed NDT epic vortex mechanical component is introduced also. The task necessities for the CompInnova framework has been drafted and concurred by all the members in this archive. Stage Array (PA) procedure is a progressed non-damaging testing technique used to recognize part disappointments. Dad is utilized for in administration assessment and portrayal of flaws in metallic, just as composite segments. Dad utilizes transducers comprised of individual components that can each be freely determined, by which it can diminish the unpredictability and the treatment of a ultrasonic testing framework. The PA tests are associated with extraordinarily adjusted drive units with autonomous, synchronous emanation and gathering along each channel. 2.1 Phased Array Transducer The PAUT transducer ought to be a straight exhibit transducer with number of components somewhere in the range of 16 and 128 and the focal recurrence ought to be extended somewhere in the range of 2 and 5 MHz so least ultrasonic examination prerequisites are fulfilled for a scope of various material structures. The component pitch would be somewhere in the range of 0.5 and 0.8 mm (high goals test) and it will be characterized by the base discernible imperfection, the properties of the filtered tests and the nature of the obtained ultrasonic pictures. Besides, the exhibit opening (inclusion territory rate boundary) and the component length would be at last decided by the last cluster details. The moving speed for the exhibit would be around 20mm/sec and reliant on the qualities of the examined test for level or marginally bended surfaces. The transducer would have the option to be associated with any PA framework by means of an exhibit interface (for example 128 component Hypertronics nonexclusive exhibit interface) with link length that will be characterized by the necessities of the open air investigations required (for example required control locale of the test, particularly on enormous structures) and the nature of ultrasonic information gained. The cluster ought to have the capacity to legitimately be incorporated in any controller for mechanized activity anyway it would likewise be conceivable to be utilized in manual examination systems with encoded ability along the development heading with the guide of exceptional encoding arrangement that will be ceaselessly joined with the exhibit. By denoting the essential review ways on the example surface and playing out a few goes with the test, huge zones can be assessed physically. The wedge combined with the exhibit would have a thickness somewhere in the range of 3 0 and 35 mm and with a point that is consistently reliant on the investigation test thickness (for example ensure that reference signals like front and back divider echoes are recognizable and obvious) and the sort of rate wave required (for example longitudinal or shear wave). Safety measures will be taken so as to keep up the cluster at a legitimate contact course of action with the testing surface. Water fog, gel or blend of both, are utilized as a couplant before examining. The staged exhibit test would can possibly be interconnected with PA instruments and successfully all the fundamental capacities for ultrasonic assessment technique can be performed by the incorporated framework, which are: programmed acknowledgment of the introduced ultrasonic transducer by the PA instrument, ultrasonic exhibit component arrangement, framework alignment for solid examinations, social occasion of gained ultrasonic information, A-check, B-output and C-filter imaging of information, constant or post handling of gained information, interconnection with controllers for securing of test X-Y-Z position, mapping programming improvement for the procured ultrasonic information, and altering, putting away and stacking of exhibit designs. 2.2 Ultrasonic Data Acquisition Mapping Software Ultrasonic information securing mapping programming would be created with the guide of introduced programming condition (for example Labview condition) on the PA instrument and accordingly preparing and perception of the gained ultrasonic information can be gotten. All the component terminating and test wedge arrangements can be changed inside the product condition. All the more explicitly the client decides the checking strategy (straight, half advance or FMC) and the quantity of dynamic components. This is a strategy that permits the client to modify all the included boundaries of the ultrasonic equipment via cautiously interfacing with the product. Figure 2.1: Representation of a Ultrasonic Data Acquisition Mapping Software The boundaries of cluster and wedge activity can be balanced. Working recurrence, dynamic opening components, pillar step, secure components and wedge geometry can be set by the investigation necessities. Cluster and wedge geometries can be spared or stacked. After the setting of the cluster wedge design and all the information from PAUT and controller are accessible the examining can begin. While working, any sort of securing show (An output, B sweep or C check) would be accessible thus watch the advancement of the investigation. Estimating of deformities or districts of intrigue can occur utilizing distinctive picture preparing procedures or by basically executing the common 6db technique. 2.3 Conclusion The PA method will be utilized inside the propelled deformity identification programming for identifying extremely little size defects in airplane structures, while accomplishing a high POD without expanding the filtering time significantly. This is attainable with the PA procedure, since it can lessen the measure of sensors just as the general multifaceted nature of the framework applied, while empowering free and synchronous outflow and gathering along each channel.

Great Gatsby Ending Essay

This book deciphers the general topic of expectation as what Gatsby had been driven by yet at long last didn't accomplish. The green light of Daisy’s dock drove Gatsby and he trusted in it. He was evaded by it before, yet there was still expectation that he would one day accomplish his objective. This book shows how Gatsby attempted to accomplish his objectives steadily yet at long last he neglected to accomplish his deepest desires. The consummation of the book deciphers that you can't live before, on the grounds that it will impede your deepest desires. You can have expectations and dreams, however living in the past will frustrate your accomplishing them. Fitzgerald leaves the closure of the book not entirely clear. The purpose of having expectations and dreams is to accomplish an objective, anyway Gatsby didn't accomplish his at long last. Gatsby is capricious and can't acknowledge the way that his fantasy is no more. He will keep on taking a stab at his objective, denying the way that at long last it won't occur. The general subject of the book is that you can have expectations and dreams that will drive you, in any case these deepest desires are presumably out of reach. Eventually, the American Dream might be a fantasy, yet that doesn't imply that you shouldn’t pursue your fantasies. The completion of this book focuses on that Gatsby consistently was focused on his fantasy about being with Daisy once more. The green dock light helped Gatsby to remember this objective consistently and he centered his deepest desires upon this and envisioned that they would one day be together once more. This nonetheless, was a terrible move in light of the fact that Gatsby lived in the past so as to accept that his deepest desires would happen. He had once been locked in to Daisy five years sooner and imagined that despite the fact that she was hitched and had a child that she could simply drop everything with the goal that things for Gatsby would simply return to how things were. This living in the past doesn't help dreams and objectives.

Book Riots Deals of the Day for October 1st, 2018

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Database Security Concepts, Approaches, And Challenges

Database Security - Concepts, Approaches, and Challenges Siva Krishna Sunkavalli Computer Science Department Kent State University Kent, Ohio ssunkava@kent.edu Abstract— Data security is one important issue that everyone anticipates these days. Whether it is an individual or an organization securing the data in the database is very important. As the technology is enhancing day by day the data is more vulnerable to the security breaches.A really exhaustive approach for information assurance should likewise incorporate instruments for implementing access control approaches focused around information substance, subject capabilities and qualities, and other pertinent relevant data, for example, time. Strategies for information trustworthiness what s more accessibility particularly customized to database frameworks must be embraced. We concentrate on access control frameworks, on which a huge assortment of examination has been committed, and depict the key access control models, in particular, the optional and obligatory access control models, and the part based access control model. Keywords— Data confidentiality, data privacy, relational and object databases, XML. I. INTRODUCTION As associations expand their reception of database frameworks as the key information administration innovation for everyday operations and choice making, the security of information oversaw by these frameworks gets to be critical. Harm also abuse of information influence not just a solitary client orShow MoreRelatedAccess Control Mechanisms Protect Sensitive Information From Unauthorized Users966 Words   |  4 Pagesimprecision bounds for more permissions and has lower total imprecision than the current state of the art. E. Bertino and R. Sandhu, [5] wrote â€Å"Database Security-Concepts, Approaches, and Challenges,† it defines As organizations increase their reliance on, possibly shared, information systems for daily business, they become more vulnerable to security breaches even as they increase productivity and efficiency advantages. Though a number of techniques, such as encryption and electronic signaturesRead MoreQuestions On Database Security And Database Systems1368 Words   |  6 PagesDATABASE SECURITY Submitted to the Faculty of American Public University By Loren Robert Hensley In Partial Fulfillment of the Requirements for the Course of INFO620 Enterprise Database Systems November 2014 American Public University Charles Town, WV â€Æ' Abstract This paper explores the different aspects of security as it pertains to database systems. 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These concepts are easily augmented with hands-on exercises involving relevant tools and techniquesRead MoreImplementing A Dbms System Within Any Organization Large Or Small Requires Proper Planning1318 Words   |  6 PagesIntroduction Implementing a DBMS system within any organization large or small requires proper planning, analyzing files and shared drives and a knowledgeable DBA (Database Administrator, in-depth knowledge of DBMS architecture. Using a DBMS to store and manage data comes with advantages, but also overhead. One of the biggest advantages of using a DBMS is that it lets end users and application programmers access and use the same data while managing data integrity. Data is better protected and maintainedRead MoreData Integrity And Availability Techniques1743 Words   |  7 PagesAbstract For many computing systems, database technologies are an essential component. They permit data to be reserved and shared electronically and the quantity of data retained in these systems continually develops at an exponential rate. As organizations upsurge their dependence on, possibly distributed, systems of information for daily business, they develop the vulnerability to security breaches even as they get efficiency and productivity advantages. However, numerous techniques like encryptionRead MoreRelational Databases For An Efficient Data Management And Retrieval Of Data1032 Words   |  5 Pagesan issue due to the growing need in business and academia. To resolve these issues a number of databases models have been created. Relational databases allow data storage, retrieval and manipulation using a standard Structured Query Language (SQL). Until now, relational databases were an optimal enterprise storage choice. However, with an increase in growth of stored and analyzed data, re lational databases have displayed a variety of limitations. 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The agriculture industry experiences different challenges ranging from global to technological aspects. The global aspect is the most prominent challenges experienced and influenced by different factors such as dramatic economic growth in developing nations and urbanization resulting in more ‘consumers’ rather than ‘producers’. In addition, farm producedRead MoreDatabase Security7079 Words   |  29 Pagesin Practice Volume 9, 2010 Database Security: What Students Need to Know Meg Coffin Murray Kennesaw State University, Kennesaw, GA, USA mcmurray@kennesaw.edu Executive Summary Database security is a growing concern evidenced by an increase in the number of reported incidents of loss of or unauthorized exposure to sensitive data. As the amount of data collected, retained and shared electronically expands, so does the need to understand database security. The Defense Information Systems

Food Processing Agricultural

Sample details Pages: 23 Words: 6888 Downloads: 8 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Food Processing in Agricultural Regions. Agricultural regions in any country, including the United Kingdom, have historically been seen as poorer neighbours to the more industrialised areas of any particular country (Pierpont 1997). This position has been brought about mainly as a result of the fact that pay, employment opportunity and economic output tends to be lower than other areas of industry. The logistical problem in terms of transport and flexibility of workforce is also a contributory factor. Consequently, many agricultural regions have seen a significant decline in fortunes and employment during the course of the past three decades. In an effort to these problems, governments at local, national and regional levels have been seeking to produce a range of strategies that will support and regenerate agricultural, the results of which have met with mixed levels of success. Don’t waste time! Our writers will create an original "Food Processing Agricultural | Economics Dissertations" essay for you Create order Irrespective of the help afforded to them, many agricultural areas still remain relatively weak. Where improvements are achieved, often it is at the expense of the agricultural industry itself. For example, promotion of cultural tourism, whilst it may benefit some agricultural communities, does not address the core issues, namely improving the indigenous industry and food production chain. However, recent studies carried out have suggested that there may be another way to approach the issue. This research, as reported by Peter Pierpont (1997), suggests that if the development of food processing is encouraged within an agricultural area, it can result in an increased level of prosperity, producing subsequent improvements in employment, economic output and the GDP per head (Pierpont 1997). Aims and Objectives The aim of this paper is to evaluate the hypothesis set by Peter Pierpont (1997) and to ascertain if the development of food processing in agricultural areas can provide a route to prosperity. To assist with the analysis for this purpose the UK agricultural regions of Cornwall and Wales will be used as case studies, with other agricultural regions within the UK and Europe being used for comparative purposes. Concentrating on the UK in particular, to enable the goals of this research to be achieved it is intended to focus the paper upon the following objectives: Provide an analysis of the historical development of the agricultural industry, paying particular attention to this sector within the United Kingdom. To provide a detailed analysis of the two selected agricultural areas, which will include the past and present economic and employment positions. Analyse and evaluate the impact that the development of food processing has upon selected agricultural regions. Evaluate the synergy that is said to exist between the agricultural and food processing industries. Overview of the research Following this introduction, chapter two provides a brief background of the development of both the agricultural and food processing industries. This is followed by a critical literary review within chapter three. Chapter four provides details of the methods used for the research required for this paper, with the findings from resulted from the research are analysed and discussed in full in chapter five. The conclusion of this study, together with any recommendations that are considered appropriate, are outlined in chapter six. Chapter 2 Background Following the advances in technology over the course of the past three decades, there have been significant changes witnessed both within the agricultural and food processing, as they exist in the UK. UK Agricultural Industry Following WWII, the concentration upon the economic value of British agriculture came a poor last place to other industries as the UK sought to rebuild its economic position. Thus agriculture was basically left to fend for itself as it sought to compete with an increasing level of food products being imported from overseas markets (Greer 2005, p.86). In line with the general industry trends, in both of the selected areas there has been a decline in the agriculture economy during the course of the past three decades, despite the fact that the rural areas have historically relied upon this industry to maintain their local communities. In the UK the rural farming decline has been exacerbated by the concentration of farming methods undertaken by large corporations together with the increasing levels of imported produce, which can be purchased at prices that the UK farmers cannot compete. Similarly, the pressure from retailers for lower pricing has reduced the competitiveness of the local farms. Evidence of these events can be seen from the following (figure 1). This table shows how, during the past decade the agricultural industry contribution to the UK economy has fallen to nearly half of its 1996 value and the GDP by two thirds. Furthermore, whilst our exports in this area have remained relatively static, imports have increased by nearly 40%, which has affected the countrys self-sufficiency levels. Similarly, although net farm incomes have steadily increased since 1999, the total income from farming has halved, which indicates the size of the agricultural resources that have been lost since the turn of the century. The concentration of farming into bigger units has been more pronounced in the UK, with an average farm size of 66.7 hectares, than most other areas of Europe, as is evidenced from the following table(figure 2). Even in countries such as France and Germany farm sizes are significantly smaller. Figure 2 Farm Sizes At the same time as the above results were being witnessed, there was also a significant drop in employment within the industry. This was partially due to the economic position of Agriculture, but at the same time the historical tradition of offspring following their parents onto the farms was also being broken, with less enthusiasm being shown for taken over the role of farmers due to the long hours of work required for relatively low levels of return. Figure 2 shows how severe this decline was in the five years to 2000, with a loss of over sixty thousand employees in that period representing nearly ten present of the previous workforce. The loss of skilled workers resulting from persons leaving the industry served to exacerbated the economic problems that it was experiencing. Figure 3 Fall in workforce In the case of Cornwall, much of this decline has also been fuelled by the increasing concentration upon the tourism attraction of the area. For example, due to the economic benefits, many traditional farmers have transferred the usage of parts of their agricultural landform food production to activities that will capture a share of the tourist market, such as campsites and caravan parks. The position in Wales has become even more extreme than Cornwall. Central Wales is a more remote location than its Cornish counterpart, with a low internal level of infrastructure and a less developed transportation systems, which makes it less accessible for business and consumers alike. As a result, local businesses and services such as health care have closed or transferred their services to towns and cities, and much of the rural population has followed. This situation, together with the economic decline in agriculture as previously outlined, has led to many farms in the area becoming economically unviable. UK Food Processing Industry Food processing is defined as being any method or technique that issued to transform the raw product, being meat, vegetable, cereals another food products, to an edible dish for the average human. Without this part of the supply chain our diets would be more limited than they are today, with less variety to choose from and a more seasonal aspect to the food we purchase. Therefore any process, from the preparation of meat at the Butchers to the preparation of ready-made meals for consumer consumption on sale in supermarkets is a part of this process. Food processing also increases the durability of the product, increasing the shelf and use life, which has the effect of reducing waste whilst at the same time increasing the quantity of supply. Indeed, as the BNF (Factsheet 2000) rightly observe, without food processing it would not be possible to sustain the needs of modern urban populations. Prior to the advent of new industrialisation methods, mass production and the new technology area, the majority of the food processing system was conducted at a local level. However, subsequent to these events, the food processing systems and organisations became centralised into the more industrialised areas of the country. The major contributory factors behind this evolution of the food processing industry away from local to a central location was partially dictated by the increased access to labour, which due to its proximity to the workplace was in plentiful supply at a lower cost, together with the advent of the mass production process. In addition, such areas of the country and region enjoyed easier access to the national and international transport network. All of these advantages meant that the businesses involved could reduce costs and increase the speed of the production process. The centralisation of the food-processing sector of the supply chain was also driven by changes in consumer demands and expectations. As supplies became more plentiful and the retail supermarket phenomena expanded throughout the country the consumer demanded lower prices in the food sector. To deliver this supermarkets needed to reduce their own costs, which could only be achieved by them having access to centralised purchasing outlets, rather than the previously diverse and expensive distribution network. One abnormality that has arisen from this development is that often products harvested locally are often transported out of their local area to be processed and then returned to the shops within the same locality for sale through stores. For example, the raw milk product could be collected from the dairy farmer, transported to a processing plant a distance away from that farm and then, once it has been processed into the carton that we see on supermarket shelves, re-transported back to the local supermarket in the same area. Chapter 3 Literature Review Agricultural industry Much has been written about the UK agricultural industry over the years and regarding the way it has developed, and there are a variety of views regarding the way it should develop in the future. Hector(1969) believes that in essence the industry has developed on the basis of an internal colony, with each area being a part of, but in essence operating as a separate unit from the whole. Indeed, if one looks at the UK just after the war, when home gardens and allotments used to be vital sources of food (Petty 2002, p.185), it is easy to see how this insular and separate attitude can develop. In the first half of the twentieth century the British people had a very independent manner and were set in their ways. This contributes to the reason why, despite advances that have been made in agriculture over the years, in earlier section of his research Petty (2002, p.72) discovered that, in the main, the processes used to produce food on modern farms is still very conventional. Despite the fact that the agricultural industry as an element of the National economy has become significantly less important over the years, there are still certain areas where it is considered to have an essential impact on the local community in terms of the revenue it contributes (Greer 2005, p.74 and p.77). These include such regions as Wales, with its unique hill farming industry, East Anglia for the cereal output and, to some extent, Cornwall for its wheat and grain. In Wales for example, over a wide area of the country agriculture is still the industry that is central to the regions community and economy. However, despite this fact the area has still witness a reduction in the number of people employed in agriculture (Jones 1999, p.185 andp.309). As has been noted earlier, most other agricultural regions, including Cornwall have experienced a similar decline in the employment base. Nevertheless, in terms of preserving the countryside and agricultural industry, there is still somewhere in the region of eighteen million hectares of land in the United Kingdom that is used for agricultural purpose (Petty 2002, p.30), for which an effective management strategy has needed to be developed over the years. Certainly, if the UK wishes to halt the decline in the levels of self-sufficiency However, as has been widely recorded, efforts to revitalise the industry have been thwarted by several events that have had an adverse effect upon the industry. For example, in early 2001, as noted by Agriculture (2007), the decline was exacerbated by a serious outbreak of foot and mouth within the animal population and this, followed by health risks from BSE and swine fever, severely curtailed the agricultural industrys ability to expand within both the home and international market places. Following these events, and in an effort to reposition the importance of agriculture within the economy, the NFU , one of the most active representative bodies for the industry campaigned for the government and the EU to create an innovative plan in an effort to restore public confidence in home produced food (Greer 2005, p.40). Similarly, farmers in Wales in the late part of the last century engaged in a series of active protests, which were aimed mainly at reducing the effect that subsidised imports In response to these concerns and also as a result of the initiatives set in place by the European Union, DEFRA has produced and discussed a number of strategies over recent years. With the central focus of these being action required nationally to seek a restructure of the agricultural industry into a more efficient sector (Greer 2005, p.129),the organisations purpose is to restore the former prosperity of the regions. Whilst maintaining the unified approach, development plans have been set in place for England, Scotland, Wales and Northern Ireland (Greer 2005, p.41). However, it has been recognised that to prosper, agriculture has to seek new and innovative ways to add value to its industry, which entailed a certain level of diversity from traditional methods and approaches if the industry was to achieve recovery and become competitive nationally and internationally. Initially some areas, such as Cornwall, have taken the colonial approach discussed within Hector (1969) and sought other ways of increasing their individual incomes and prosperity. As has already been mentioned, in this particular region, many turned to tourism for this result. However, with the advent of cheap flights and travel, even this opportunity is now in decline. Thus the industry needs to look for more sustainable options. To this end Peter Pierpont (1997) suggested research shows that combining the development of food processing within the agricultural regions may provide a positive option. Food Processing As with any are of industry, a range of supplementary operations has grown around agriculture. These indirectly include such organisations as financial institutions, equipment manufacturers and suppliers and the chemical and biotechnology organisations. However, the most directly linked ancillary industry to agriculture is food processing (Greer 2005, p.49). It is totally apparent that the two industries and inter-dependent. From the food producers to the processing and packaging operations and then on to the retailers, all of these areas are an integral part of the food supply chain. As has been previously noted, in the past the agricultural industry and regions have tended to remain separate from the rest of the food supply chain. The perceived advantage of this approach was seen to be that farmers felt comfortable and confident within their own business environment and, as long as they were producing the required levels of products, saw this as their main income generator. However, the disadvantage was that, as the retail industry became more organised and, with the development of supermarkets and other price conscious outlets, so they began to have more influence upon the agricultural industry, forcing down prices and demanding higher yields and quality, all of which added to the economic difficulties being experience within the agricultural regions. However, European Union regional data strongly suggests that agricultural regions that have taken it upon themselves to develop the food processing industry at a local level have seen increased value-added to the industry itself (Pierpont 1997) although, in his study he suggests that the structure of the French farming industry has given it an advantage in this area over their Cornish counterparts, despite the geographical and socio-economic similarities. Nevertheless, in Cornwall and other agricultural areas of the UK, those within the agricultural industry are beginning to take notice of the agro-food approach. For example, a group of growers and farmers from the southwest regions of Cornwall across to Hampshire have formed their own organic marketing co-op, (Petty 2002, p.112) which provides a better value basis for the sale of products to the retail market. Similarly, in Wales certain regions have created action plans for their agricultural industries which includes integrating more of the food processing and supply aspect of the food chain within their region, thus enabling them to benefit from the added-value of a resource that had previously not been available to them (Greer 2005, p.194). It is argued by researches that creating a more localised food processing sector within the agricultural regions, where farmers and producers can be more directly involved with other areas of the food chain, including preparation, distribution and marketing, will produce positive results in terms of the financial stability and growth within the farming and rural communities. Summary It is clear from the research that has been carried out into agriculture, that there is a need to address the decline within the industry, which as can be seen from figure 1 (page 7 of this report)has fallen by ten present in the last decade. The majority of this research shows that the last three decades have seen a consistent decline in the fortunes of the industry, both in terms of its economic value to the UK economy as a whole, and in relation to employment statistics. Some researchers see developing the food processing industry within the agricultural regions as the way forward and the route to prosperity. The question is whether this theory is supported by the facts within the areas being used as a case study in this paper. Chapter 4 Research Methodology Research objective Within the introduction section of this study, the four key objectives for the research were outlined. The research into how the agricultural industry has developed, particularly in relation to United Kingdom provides essential background information, which will assist in understanding why these areas have become of such concern to government and non-governmental organisations over recent decades. The choice of Cornwall and Wales for the case study is appropriate because in the case of the former, much attention over recent decades has been concentrated upon developing the tourism attraction, rather than agricultural needs of the area. Wales provides a much larger agricultural environment, which has to compete with small pockets of heavily industrialised regions, specifically on coastal areas. Food processing, up until the last decade, has been seen mainly as an industrial activity and therefore it is important to understand how the transfer of this activity to agricultural regions has both evolved and to what extent the case study areas have benefited from this latest development. Similarly, as an integral part of this area of research, the relevant synergies will provide a better understanding of the basis for accuracy of the hypothesis. Choice of research approach Due to the nature of the area being research, it is felt that the qualitative method or research, which uses primary data as its basis(Collis and Hussey 2003, p.53), would not have been appropriate. The questionnaire and research based approach, whilst useful, would not have provided the necessary detailed research information that is required for the purpose of adding to the understanding of the issue of food processing development in agricultural regions, apart from giving some indication as to how the various stakeholders, specifically those who operate within the respective industries, have reacted to this evolution. The significant level of research and statistical data required for this study led the author to believe that the quantitative research approach would be a more productive approach. In an endeavour to ensure the reliability of the data researched, a wide and diverse range of sources has been used for this study (Collis and Hussey 2003. p.71). This situation provided the author with the ability to cross-refer and check the accuracy, impartiality and validity of the information gathered, which enables the highest possible level of objectivity to be attached to the conclusions and recommendations reached. Industry Data With regards to the data relating to the agricultural and food processing industries, this has been acquired from a variety of sources, which includes UK and EU government departments and other industry associations and observers. Included within this data is the relevant statistical information from UK and EU surveys. Additional data was obtained from Internet sources, books, journals and other industry and economic sources. Wherever possible prime sources have been used for data gathering, particularly in relation to the strategies and policies that have been suggested and implemented by teak and EU governments. This data includes current and suggested policy documents. Selected areas case study In keeping with the advices given by researchers such as Collis and Hussey (2003), a substantial amount of time has been expended in digesting all of the material available in relation to the agriculture industry in Cornwall and Wales, to make sure that the chosen material was apposite to the objectives and questions being sought. Furthermore, data from organizations active within the two selected areas was also used. These sources, together with others, were used to obtain past and future strategic information as well as for outlining the current position of the agricultural and food processing industries in both of these regions of the country. To provide objectivity in regards to this data, industry reports and independent research carried out bother experts in the respective industries were also reviewed. The reason for the choice of these two areas is that, whilst there are similarities in terms of their agricultural heritage, they differ in terms of economic and political development and evolution. Politically Cornwall is still an integral part of the UK political structure, whereas Wales has a degree of devolved power. Economically Cornwall has attracted a wider diversity of activities and services, particularly within the tourism sector, whereas this has impacted upon Wales to lesser extent. In order to achieve a comparative benchmark for the case study, the areas selected have been assessed against similar regions within other member states of the European Union. In this instance, information from the EU itself and various sources within the selected nation states, have been used. Chapter 5 Findings, Analysis and Discussion To enable an analysis of the hypothesis that was set at the commencement of this paper, it was decided to use two distinct Agricultural regions, these being Cornwall and Wales for the reasons that have been outlined previously. Agricultural regions Cornwall Cornwall is set in the South West of the UK. Although it is traditionally an agricultural region, it has perhaps become better known since the Second World War as a tourist area. Nevertheless, it still has a significant agricultural base within its economy, which is still seen as one of the primary industries for the county (Cornwall County Council 2007), with a growth in the number of holdings during the period from 1997 to 2001 (see figure 4), which compares favourably with the movement in England as a whole. However, the industry has seen significant reduction in the areas committed to the raising of cattle and sheep livestock, which reflects the overall difficulties that have been generally experienced in this area as a result of disease epidemics such as BSE and also the inroads being made by foreign imports. Despite recent declines, it is seen as one of the foundations for strong rural communities, but the industry can only retain this position by increasing employment, which through current agricultural methods and strategies is not happening. Figure 4 Farming in Cornwall However, despite the apparent improvement seen above, this has not translated itself into improvements on the employment issue. As can be seen from the following table (figure 5), the numbers of people employed within the agricultural industry are continuing to fall. Despite the fact that in comparison to England, Cornwall has suffered less, the Cornwall County Council (2007) do not see this downward trending their region being reversed in the immediate future, with the majority of the remaining workforce consisting of owners and tenants(Cornwall County Council 2007, 3.38). Figure 5 Agricultural employment Cornwall Agricultural regions Wales Agriculture in Wales, because of the internal terrain, is most known for its Hill Farming element. It has a substantially higher level of holdings than Cornwall, spread over a greater land mass (see figure 6). Figure 6 Farms in Wales In terms of employment the region, like Cornwall, has seen a consistent decline in the numbers during the past decade, although as the following table shows, there was a slight improvement in the figures during 2004 (see figure 7). Figure 7 Agricultural employment in Wales Causes of Agricultural decline Some of the responsibility for the current position and trends has been levelled at the cost-price squeeze effect that is currently taking place within the food chain, with consumers consistently demanding lower retail prices. Whilst it is true that this has had significant impact on the industry, it is not the sole cause of the current position. Three other significant factors have also had an adverse effect. Disease. The perceived lack of safety in British foods following the incidences of foot and mouth, BSE, swine fever and, more recently, outbreaks of avian flu (Haynes 2007) has also had a significant impact upon consumers and buyers both confidence in the UK and abroad. The fact that these have occurred within a relatively short period of each other has done little to improve the recovery position of the industry as a whole, the timescale of which has been extended as a result of these events. Technology usage. Apart from the larger corporate farm holdings the use of modern technological advances within agriculture within the smaller holdings has not been taken advantage of to the extent that other industries have respond to this area of business to the same extent. This is presumably due to the older age demographics of the older owners and tenants, together with the time constraints that they experience as a result of low levels of employment. Based upon the lack of profitability of many small farms, another contributory factor tithe lack of new technology resources in use results from the limited financial resources available to purchase the equipment and training necessary for such innovations. Finally, the local colony attitude as indicated by Hector (1969)is still in evidence in many rural and farming areas. The psychological position of a large element of the agricultural community is resistant to change, a situation that makes improvements for greater efficiency difficult to implement. National and Regional Strategies There have been a number of initiatives instigated with regard to the agricultural industry, particularly from the European Union, although these and those that have come from the UK authorities, have not been met with unanimous approval. In the case of the EU strategies there Isa body of opinion that this limits national action. As Alan Greer(2005) states in the introduction to his study on the agricultural industry, there is a widespread assumption that the existence of a CAP across the European Union undermines the capacity of states to construct their own national policies. To a certain extent the comment made by Greer is true. As will be seen within this section of the paper, a large proportion of the strategies and policies relating tithe UK agricultural industry have in fact come into existence as a result of EU discussions and directives. Irrespective of these comments, it is important to remember that the European Union as a whole commits in excess of forty-five billion dollars each year in support of farmers throughout the member states. Therefore it is fair to state, as Cardwell (2004, p.8) does that Agriculture enjoys numerous advantages in the operation of the Legislative process and bureaucracy. Whilst it may be true that the major part of these funds are utilised in the purchasing and storage of surplus products such as beef, wheat, milk and butter, before selling it to other nations, usually within the developing and third world(Gardner 1996, p.3), this still represents a significant level of state aid. The Common Agricultural Policy seeks to achieve fairness of competition within the EU, whilst at the same time providing aid. The potential drawbacks of this policy is that it still leaves farmers vulnerable to policy changes and increases in costs that are not fully reflected within the subsidies. For example in Wales, which benefits from CAP, the increases in prosperity that it has brought to the hill farmers in the area could disappear if policies change and the EU or local authorities felt that this was providing the area with an unfair advantage, or changed the conditions in relation to eligibility (Jones1999, p.320 and Cardwell 2004, p.227). In terms of cost increases, during the reform of the CAP system it has already been noted that these increases had an adverse effect upon the UK arable industry as awhile (Gardner 1996, p.148). Thus it would be true to say that such policies only remain appropriate should all other factors remain the same. In the UK in 2002, the government commissioned a report on the future of farming and food (Curry 2002) in an attempt to define strategy, which would led to a more sustainable for the future of agriculture and those who work within the industry. One of the main conclusions of this report (Curry 2002, p.109) was that farming had become detached from the rest of the economy and the environment. There port also suggests that this position has been reached partly as a result of the substantial subsidies, which its authors believed should be ended (Curry 2002, p.110). To address this position the report suggests that new research bodies, comprising of representatives from all the industry stakeholders, including the consumer, should be set, which will include within its remit, the setting up of demonstration farms to be used as models of economic success in farming. One comment within this area of the report that is particularly pertinent to the research of this paper is the comment that at the moment some [food]chains are too long (Curry 2002, p.113), suggesting that a food chain centre be set up to ensure the communication activities within the food chain are improved. Together with this Curry (2002, p.118) suggests the creation of marketing grants to help farmers to be able to more actively promote their produce in the local area. This is seen as an important area for farmers to take advantage of, particularly in view of the increase in consumer concerns within regard to the safety of food production and other environmental issues. Similarly, it recommends a higher level of training and involvement by farmers within areas of new technology as it relates to equipment and processes. Not all of the recommendations of the report have been accepted as appropriate or even workable. Adam Quinsy (2002), whilst praising many of its recommendations, takes issue with the cost element, indicating that, with the price of new technology and the low prices that farmers receive for their products would make it difficult for the farmers to implement many of the recommendations made, for example the increased levels of training. Furthermore Mr Quinsy (2002) contends that there are inefficiencies in the food chain, but that the retailing end of this sector are the ones who are responsible, and are using higher prices to consumers and lower cost from suppliers to address these issues rather than take steps to make the system more efficient. However, it does seem from all of the strategies that are being put forward by governments and other authorities, that there is a consensus towards diversification an integral part of the way forward, although the Curry (2002) report stops short of fully supporting incorporating a more localised food programme as part of this diversification programme. Whether this was intentional, or merely not part of its remit at the time, or even a deliberate omission to avoid creating issues that would be likely to impact upon other stakeholders within the food chain, is debatable. This is in spite of the fact that the Government, in their report Facing the Future (2002) recognised that all parts of the food chain were mutually dependent. Food Processing in the agricultural regions In addition to the findings of Peter Pierpont (1997), many other researchers have indicated that, by becoming more involved with the food processing aspect of the food chain, the agriculture industry can achieve benefits. For example Caldwell (2004, p.312), whose research confirms that the agriculture industry is at a low point of that chain, and the economic results confirm this, also states earlier (p.13) that the inclusion of parts of the food-processing element can increase that communities GDP by around two present. Furthermore there are benefits from EU subsidies that would attach to those who become involved with the food-processing element. For example, agricultural exporting receives a greater proportion of the Farm funds than the pay-out levies on imports of food (Gardner 1996,p.44). Similarly, certainly within the area of organic food processing, the UK government, whilst setting high standards (Cardwell2004, p.282) does provide considerable assistance to the industry, most of which would be directed towards to the smaller farming unit. This is one particular area of the industry where the smaller size of the business, and its lower reliance on mass production, is a distinct advantage. Some within the industry may consider that the inclusion of food processing within the local agricultural industry may have certain disadvantages. These include the following areas: Lack of continuity of sale. The fear in this instance is that changing from a position where there is a constant stream of bulk orders that ensures sale of all production, to one where the level of sale is more locally dependent could leave the farmers with unwanted and unusable stocks. However, this situation can be addressed by efficiency of management and using a progressive transfer of product sale. Cost prohibitive. The perception is that raising the capital to undertake such a venture would be cost prohibitive both in terms of the capital outlay and the promotion. The latter part of this concern is addressed within the Curry report (2002) where it recommends marketing grant and the former is a question of developing an appropriate business plan. Lack of expertise and knowledge. Training is available to cover most of these areas and, to a certain extent it is simply an extension of the marketing process of selling in bulk to the larger organisations. Furthermore, by the formation of co-operatives there is the potential to pool skills and resources to counteract any deficiencies in these areas. Conversely, there are also advantages to be gained from the process: Added value. With more control over the processing and destination of its products, the farmer is likely to receive an increase in the revenue per unit of product sold. This will provide additional profits, which will enable the business to invest in more efficient measures and processes within their business. Local economy. With more funds remaining in the local area, this will improve facilities within the local rural community and lead to this position being able to be more positively sustained. Employment. With the increased efficiency levels employment within the industry will rise, enabling a continuity of succession to more easily be developed. A well-known example of a successful transition to the inclusion of the food processing element at a local level can be found in the case of the Prince of Wales Duchy of Cornwall business, which has even extended its sales internationally in the US (Milford Mail Tribune2004), where the business is successfully offering Duchy Originals to consumers. As is evident from the highly publicised levels of tax that the Prince is having to pay on the revenues from this business, amongst his other interests, this proves that the venture has resulted in the business becoming more efficient and increased the prosperity of the business and the local community who work or benefit from the business. Other international studies have also suggested that food processing can bring advantages to the agricultural industry. For example, Ann Brentmar (1996), in her study into the inclusion of the food-processing sector within the farming community in Oregon, US, commented upon two separate but important issues. The first, and the one most relevant to this research, was the benefits that it delivered to the farmers and producers. As Ms Brent mars (1996, p.4) research rightly indicates, in general terms farmer and farming is the most labour and risk intensive part of the food chain and, at the same time the one sector of that chain that attracts the least reward. However, by incorporating the food processing chain, which includes marketing, within the farming activity, it can have the effect of increasing revenue and profitability, which provides an opportunity for these businesses to become more efficient and self-reliant. Secondly, by becoming more self-sufficient in this manner, such a move has the added benefit of preserving farmland, for instance from development, and as a direct result of this will help in the maintenance of rural communities, increasing employment opportunities. Conclusion and Recommendations The hypothesis set at the commencement of this paper was to ascertain if the development of food processing in agricultural areas can provide a route to prosperity. From the research that has been carried out for this paper it is concluded that this case has been proven. All businesses, irrespective of their industry, has to grow and develop, which means adapting to the current environment, and adapting to the changing demands and expectations of the market place, and the agriculture industry cannot be exempted from this process. To address the problems of the industry exclusive of diversification has been proven to be not a viable option. Despite all of the initiatives that have been introduced over the years, the Agriculture industry has not responded positively to these aids, as the continual declines in its fortunes have shown. Therefore, in addition to measures to creating more efficient methods of farming, it is apparent that diversification does provide an opportunity for added prosperity. Whilst, as shown in Cornwall with tourism, some benefit can be gained from diversification outside of the industry itself, this has not been able to be sustained, mainly as a result of influences outside of the control of the agricultural industry itself. In the view of the author diversification within an area that the industry has some knowledge about, such as food processing, would be far more sustainable. Whilst there is little doubt that certain operators within the existing food-processing operations would have reservation regarding it becoming a more localised event, it is proven that, particularly in terms of current concerns from consumers in relation to food safety and environmental issues, promoting localising food processing as addressing these concerns can bring increase in revenue and therefore add value to the business and industry. However, during the transitional period, whilst the industry is in the process of change, there will remain a need for assistance from governments and other non-governmental organisations. Similarly, it is important for the industry itself to understand the need, and takes the necessary steps, to adapt to change from whatever sources this emanates. Bibliography Brent mar, Ann (1996). Preserve Farmland Through Prosperity. Cascade Policy Institute. Cardwell, Michael (2004). The European Model of Agriculture. Oxford University Press. Oxford, UK. Collis Jill and Hussey, Roger (2003). Business Research. 2nd edition, Palgrave MacMillan. Basingstoke, UK. Cornwall Restructure Plan (1997). Urban and Rural Employment, Industry and Commerce. Editorial (1994). Duchy Originals To Be Sold in the US? Milford Mail Tribune. Milford, US. Facing the future (2002) The Strategy for Sustainable Farming and Food. Factsheet (2000). Nutrition and Food-Processing. British Nutrition Foundation. London, UK. Gardner, Brian (1996). Farming for the Future: Policies, Production and Trade. Rutledge. London, UK. Greer, Alan (2005). Agricultural Policy in Europe. Manchester University Press. Manchester, UK. Haynes, Deborah (2007). Bernard Matthews says bird flu scare not his fault. Reuters. London, UK. Hector, M. (1969) Internal Colonialism: the Celtic fringe in British N ational Development 1536-1966. Rutledge Kegan Paul. London, UK. Jones, Gareth Elwyn (1999). Modern Wales: A Concise History. 2nd ed. University of Cambridge. Cambridge, UK. Lackham Farm and Estate (2007). Food Processing. Lord Curry (2002). Report of the Policy Commission on the future of Farming and Food. Morgan, Kevin., Marsden, Terry and Murdoch, Jonathan (2006). Worlds ofFood: Place, Power and Provenance in the Food Chain. Oxford UniversityPress. Oxford, UK. Pierpont, P. (1997). Food processing in agricultural regions: a routeto prosperity? Agricultural Economics Society Conference, March 1997(in press). Pretty, Jules N (2002). Agri-culture: Reconnecting People, Land and Nature. Earthscan Publications. London, UK. Quinney Adam (2002). Farmers diary: Curry report verdict. BBC News Online. Report (2007). Urban And Rural Employment, Industry Commerce. Richardson, H. (1972). Input-Output and Regional Economics, Weinfeld and Nicolson, London, UK. UK Agriculture (2007). Crisis in UK agriculture and British farming.Vidal, C (2000 a). Thirty Years of Agriculture in Europe: Farm NumbersDeclining as Farms Grow in Size. Eurstat-Statistics in Focus,Agriculture and Fisheries, Theme 5 3/2000. Vidal, C., Eiden G and Hay, K (2005). Agriculture as a Key Issue forRural Development in the European Union. Eurostst. Brussels, Belgium. Welsh Assembly (2007) Welsh Agricultural Statistics 2005.

Tennessee Williams Free Essays

Tennessee Williams is of the greatest playwright of the American theatre and also the most important writer in the world of the twentieth century. Like other creative geniuses, he died depressed and alone, never knowing the popularity he would enjoy after the death. He has written many great plays one of his greatest work is â€Å"The Glass Menagerie†. We will write a custom essay sample on Tennessee Williams or any similar topic only for you Order Now The plot, dialogue, setting and characterization were selected based on their potential to represent his experience and identity symbolically, the struggle between flesh and spirit was defined as he felt. When you live trying to meet the expectations of others, when you leave your dreams behind to please the other, or you hide what you really are, you live a confinement similar to that of an animal in captivity. This is what the characters experienced in this play. William explained innocence and spirituality through the imagery of tension, whereas for carnality he used imagery of flow. â€Å"In their own way, the Wingfields were fighting against the things that were threatening their life. Tom’s had a fear of working with a job that leads to no future. So,he decided to create his future in poetry, and the results were very rewarding. Amanda was disappointed with her life and attempted to make her daughter more social and popular. Laura’s had a fear of facing Jim O’Connor That led her to underlying concerns like not being able to indulge herself into society and physical appearance. Laura also represented things related to spirituality. Everything in the play served as a symbol between and what she signifies or thinks. In the discussion, Barnard analyzed each character in turn, explaining the symbols which pertained close to her or him, after that, he showed the interaction of symbols as the play draws towards the end (The-Symbolism-of-Tennessee-William_s-the-Glass-Menagerie-an-Inductive-Approach-Barnard). Laura admits that she leaves a work session that allows her to get a job, her mother, Amanda, tells Laura should get married. Tom told Amanda that he would go to dinner with Jim O’Connor. Amanda prepares herself extensively, hoping to become Jim’s matchmaker. After that, Jim left the house to meet his girlfriend; Amanda accused Tom that he did not tell that her about Jim engagement. Tom explains that after he left his family he was not able left Laura behind, he always felt a connection to her. Each character reaches a different climax in the play. Tom’s choice of not paying the electricity bill and use that money to leave the family looking for adventure revealed his decisive and initial break with the family’s difficulties. While, when Jim broke Laura’s unicorn horn and announced that he was engaged, the option of her helping him overcome his shyness and doubt was also defeated. When Amanda discovered Jim’s engagement, she lost confidence that Laura will reach the social position and popularity that Amanda herself has missed. Overall, in the play, Tennessee Williams has shown a tremendous work of art which proves that he will remain the most significant American writer and no other writer can reach his mark in theatre plays. The play showed difficulties people have to face which was the reflection of Tennessee’s own life experiences and imaginations and how a person can sustain himself in the harshness. The climax was the most exciting part of the play. How to cite Tennessee Williams, Papers

Portfolio Risk Management Analysis - Free Assignment Sample

Ques: Portfolio Risk Management Analysis. Table of Contents Introduction Economic and Industrial Analysis Company analysis Conclusion References Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.72 3000 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.68 3000 WARBA INSURANCE COMPANY WINS 27027.027 0.148 4000 Index 7,628.64 10000 ALI Nasser Mohammed 22/9/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.86 3583.33334 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.67 2955.88236 WARBA INSURANCE COMPANY WINS 27027.027 0.148 4000 Index 7,628.64 10539.2157 ALI Nasser Mohammed 29/9/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.71 2958.33334 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.7 3088.2353 WARBA INSURANCE COMPANY WINS 27027.027 0.15 4054.05405 Index 7,628.64 10100.6227 ALI Nasser Mohammed 6/10/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.68 2833.33334 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.69 3044.11765 WARBA INSURANCE COMPANY WINS 27027.027 0.144 3891.89189 Index 7,541.56 9769.34287 ALI Nasser Mohammed 13/10/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.685 2854.16667 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.68 3000 WARBA INSURANCE COMPANY WINS 27027.027 0.134 3621.62162 Index 7,421.56 9475.78829 ALI Nasser Mohammed 20/10/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.69 2875 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.67 2955.88236 WARBA INSURANCE COMPANY WINS 27027.027 0.13 3513.51351 Index 7,317.17 9344.39587 ALI Nasser Mohammed 27/10/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.7 2916.66667 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.67 2955.88236 WARBA INSURANCE COMPANY WINS 27027.027 0.12 3243.24324 Index 7,318.99 9115.79226 ALI Nasser Mohammed 3/11/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.6 2500 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.67 2955.88236 WARBA INSURANCE COMPANY WINS 27027.027 0.13 3513.51351 Index 7,178.64 8969.39587 ALI Nasser Mohammed 10/11/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.53 2208.33334 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.67 2955.88236 WARBA INSURANCE COMPANY WINS 27027.027 0.126 3405.4054 Index 7,051.77 8569.62109 ALI Nasser Mohammed 17/11/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.58 2416.66667 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.65 2867.64706 WARBA INSURANCE COMPANY WINS 27027.027 0.118 3189.18919 Index 7,047.27 8473.50292 ALI Nasser Mohammed 24/11/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.46 1916.66667 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.63 2779.41177 WARBA INSURANCE COMPANY WINS 27027.027 0.108 2918.91892 Index 6,756.83 7614.99735 ALI Nasser Mohammed 1/12/2014 7869 Name Ticker # of shares Price of share Value AJWAN GULF REAL ESTATE CO AJWAN 4166.66667 0.4 1666.66667 COMMERCIAL BANK OF KUWAIT CBK 4411.76471 0.61 2691.17647 WARBA INSURANCE COMPANY WINS 27027.027 0.108 2918.91892 Index 5,221.95 7276.76206 ALI Nasser Mohammed 8/12/2014 7869 Introduction The portfolio has been constructed to increase my profit margin as much as possible. This is done by diversifying the systematic risk as much as possible. This can be done by investing in good companies. The good stocks will cover the poor stocks. The risk due to decline in the price of one stock will be mitigated by the rise in the price of another stock. Economic and Industrial Analysis The economy of Kuwait is a small and open economy. The currency of Kuwaiti is the highest valued currency in the world. 10% of the oil reserves of the world are in Kuwait. The contribution of petroleum to the GDP of the country is 50%. It also forms a source of export revenue amounting to 95%. The Government earns considerable amount from the sale of petroleum. The major source of revenue for the country is petroleum. The revenue of the country has increased from 85% in 2001 to 95% in 2013. The major issue that the economy of Kuwait is facing is diversification. The major reason behind the poor diversification of Kuwait is the hostile relationship between the National Assembly parliament and the government. The negative relationship between the parliament and the government has prevented the implementation of economic reforms. Before the Gulf war had taken place, Kuwait was successful in diversifying its economy. But the diversification of the economy declined significantly after 199 0 Iraqi invasion. The companies in Kuwait relocated themselves to Dubai and Bahrain. The political tension in the country has suppressed the growth of any developmental projects in the country. The freedom in the monetary policies and the labor freedom have been overshadowed by the corruption in the country. Kuwait is one of the rich Arab countries. 50% of the GDP of the country is from the sale of oil and 95% of the revenue of the country is from exports. The legal framework of the country requires further development. There is no individual income tax in Kuwait. The source of income of the Government from tax is from foreign owned companies who pay 15% of the corporate tax on net profit. The burden of tax is less than 1% of GDP. The expenditure of the Government is 39% of the gross domestic output. The growth of the private sector of Kuwait will depend on the political climate of the country but it is expected that Kuwait will have fiscal and current account surplus in 2015 to 201 9. The decline in the prices of oil will not affect the fiscal and current account climate of the country. The growth in real GDP will weaken. It will be 2.9% average in the next five years. The national stock market of Kuwait is the Kuwait stock exchange. The stock exchange of Kuwait is one of the largest stock exchanges in the world. The opportunity for investment in the Kuwait stock exchange is unique. There has been speedy growth of the capital market of Kuwait due to industrial development. The stock exchange of Kuwait has a range of different shares from top companies. The quality stocks are attractive for the domestic as well as the foreign investors. The top performing sectors in the Kuwait stock exchange are banking, real estate, investment , insurance (Finance.mapsofworld.com, 2014). The expected return from the investment in the stock exchange depends on the macro economic variables. Various factors like the GDP, supply of money, inflation and rate of interest affect the stock market performance. The macro economic variables are intricately linked with the economic performance of the country. The financial market of Kuwait is less mature than the market of the developed nations. The economy of the country is small and open. The developed countries like US have an already established financial market. The stock market of Kuwait is in a developing stage. The major sectors that contribute to the GDP of the country are the oil and the service sectors. More than 94% of the GDP is contributed by these sectors. The other sectors contribute only 50% of the GDP. Privatization has not grown in the country. The private companies are surviving with the assistance from the government. The non oil growth in the country is expected to increase by 3.5% in 2014. The non oil growth in the country was 2.8% in 2013. The growth in the non oil sector is driven by the increase in the domestic consumption. The capital spending of the Government has increased. There has been an increase in the private investment of the country. The GDP growth of Kuwait has been positive in 2014. It is 1.3 percent. The GDP growth of the country in 2013 was -0.2%. In 2014, the rat e of inflation was stable at 3%. In 2014, the current account surplus of Kuwait is 38% of the total GDP (Imf.org, 2014). The political turmoil in the country is affecting the performance of the stock exchange. The ambiguity among the investors regarding the parliamentary elections has affected the performance of the stock exchange. The political scenario of the country has negative effect on the stock market which has led to political instability in the country. The tensions in Syria has casted a shadow on the entire share markets in the Arab region. The political scenario of the country has dominated the technical side of the country. Any kind of political turmoil or war like situation has adverse effect on the overall economy. The worsening political situation in Iraq has adversely affected the GCC markets. Despite the foreign turmoil in politics, the domestic political situation in the country has been stable. The stock market was high. The positive sentiment of the investors was restored. There are certain reforms that have been declared in the country that has affected the sentiments of the public . The economic outlook of the Kuwait has been affected adversely. However, these adverse affects has been mitigated by the healthy spending of the Government and the ambitious plan of the Government (kuwait.nbk.com, 2014). In the past decade, changes in the world economy have been quite noticeable. The economic and financial power in the countries has shifted. There are certain structural changes in the economic structure of the world. Earlier there were stringent restrictions against entry into certain markets. But in the era of globalization, the markets have been liberal. The performance of the country has improved by the cross border financial transactions. There has been tremendous boom in the international capital market. The foreign institutional investment has increased in the country. They have invested in the major industrial organizations. The major growth in the financial markets has been backed by the deregulation and liberalization of the various regulations governing the financial transactions, internationalization has increased the geographic scope, intense competence among the countries to take advantage of the economies of scale and restructuring of the financial institutions of the w orld. The major markets in the world have shifted towards securitization of the finance. This has resulted in the high rate of fluctuations in the market. The high rate of fluctuations in the market has been due to volatility of the interest rate and the exchange rate. The commercial banks find dominance in the GCC nations. The economic activity of the country relies on the traditional credit from the banks. The stock exchange of the world has been dominated by the banking sector. There are few domestic companies in the stock exchange of Kuwait. The major segment of the financial market is governed by the stock exchange. The countries issue bonds and other financial instruments which are the essential modes of financing of the countries. The backbone of the financial markets is foreign institutional investors but there is lack of participation of the foreign investors in the financial markets of Kuwait. The financial markets in Kuwait lack depth. The stock exchange in Kuwait is dominated by the domestic companies especially banks, companies belonging to the insurance sector and the industrial companies. The activity of the companies listed in the stock exchange is limited. The development of the oil market internationally has contributed to the gro wth of the oil industry domestically. The domestic GCC market has grown considerably. The growth of the oil industry in Kuwait has led to the development of the other economic sectors. The crisis in the domestic financial market has resulted in change in the rules and regulation. The institutional structure of the country has changed considerably. This has increased the potentiality of the capital markets in GCC. There are various factors that affect the financial market. The share market is dominated by the public sector organizations (Development of Capital Markets in the Countries of the Gulf Cooperation Council, 2014). Conclusively, it can be said that the capital market in Kuwait is dominated shares of the bank and the insurance sectors. The performance of the stock market is affected by the political situation of the country. The turmoil in Iraq has adversely affected the performance of the stock market in the country. There is high rate of potentiality of the Kuwait stock exchange. The price of the stock will increase which will be beneficial for the growth of the economy(In.reuters.com, 2014). The portfolio created by me concentrates on the banking industry, insurance industry and the real estate sector. These are the top performing sectors in Kuwait. They are efficient as well as stable industries in Kuwait. The portfolio consists of stocks from the top most companies in the industry. They are Ajwan Gulf real estate Co, Commercial bank of Kuwait and Warba insurance company. These companies were chosen by me to diversify the unsystematic risk. It will keep me insured for a longer duration of time. The industries in which I have invested form the largest segment in the country. The stocks in the banking sectors have contributed well to the rise in the index of the Kuwait stock exchange (Financial Times, 2014). Company analysis Ajwan Gulf Real Estate is a public company listed in the Kuwait stock exchange. The company is listed in the stock exchange since June 2008. The sector in which Ajwan Gulf real estate operates is the real estate sector. The company is focused in diversifying its real estate activities. Ajwan is established in the Kuwait city. The company is involved in the managing the commercial shops in the country. The company is also involved in the construction of the housing complexes. The company has invested the real estate portfolio that is specialized by the other companies. The company is also involved in the consultation of the real estate projects. It is involved in the studies related to real estate. The company is involved in the construction of the real estate projects related to housing, commercial and industrial projects. They are involved in the building the houses, operation of the houses and the transfer system. The price of the share of Ajwan Gulf real estate in the month of September 2014 is 0.72. The price of the share had risen to 0.82 in the end of September. In the first week of October, the price of the share was 0.71. In the middle of October, the price of the share has fallen to some extent to 0.68. The price of the share remained stable at 0.68 till 20th October. At the beginning of November, the price of the share has fallen slightly to 0.67. The share price suffered huge decline in the end of November. The price of the share fell to 0.58 from September 2014 to November 2014. The price of Ajwan Gulf real estate further fell to 0.4 in the first week of December. I suffered from loss in investing in this share. The share was purchased by me at a price of 0.72. But the current price of the share is 0.4.I purchased 4166 share at a price of KWD 0.72 amounting to 3000 KWD. I sold the shares at a price of 40KWD. I sold the total shares at 1666.67 KWD. I incurred a loss of 1333.33 KWD(Asm ainfo.com, 2014). The Commercial Bank of Kuwait is one of the leading banks in the country. It is engaged in wide range of banking products. One of the top performing sectors of the country is the banking sector. It also provides investment services in addition to the saving accounts and the term deposits. The bank also provides facilities to invest in the Indian stock market. The share price of commercial bank of Kuwait in end of September 2014 was 0.68 KWD. The price of the share was fluctuating between 0.67 to 0.65 KWD till the month of November 2014. The price of the share fell to 0.63 KWD in first week of December. The price of the share was 0.61 KWD in the first week of December. I purchased the shares 4411 shares at a price of 0.68. I purchased the shares at 3000 KWD. I sold the shares at 2691 KWD. I suffered a loss of 309 KWD. The price of the share in the banking sector has declined to a considerable extent. This is due to the rise in the demand of the shares in the oil sector. The stability in the oil prices has raised the demand for the shares of oil. This has hampered the performance of the other sectors (Gulfbase.com, 2014). The Warba insurance company is one of the largest insurance companies in Kuwait (warbaonline.com, 2014). The traditional values of Kuwaiti culture are imbibed in the Warba insurance company. The organization is operating for the past 35 years. They provide several kinds of assistance to the customers. The services of the organization includes life insurance services, provides insurance against fire accident and various types of risk. The company provides various kinds of benefits to the customers. They offer new kinds of services to the clients. The service of the insurance company is driven towards meeting the need of the customers. The price of the share in the month of September was 0.148 KWD. The price of the share increased in the first week of October. Post the first week of October, the price of the share began to fall considerably. It fell from 0.148 KWD to 0.108 KWD in the month of December. I bought 27027 shares of Warba Insurance Company in the month of September. The pric e of the share was amounting to 4000 KWD. I sold the shares at a price of 0.108 KWD amounting to 2918 KWD. I suffered a loss of 1082 KWD (Asmainfo.com, 2014); (Kitco News, 2014). Conclusion From the analysis of the present price of the shares, it is evident that my portfolio gave negative returns. Within the short period of time, the prices of the shares were falling to a considerable extent. I suffered a net loss. At the current scenario, the service sectors are not among the top performing sectors. The top performing sectors are the oil sector. Investment in these sectors would have given positive results. Although the banking industry is one of the performing sectors in Kuwait, the share price of the company has been falling to a considerable level for the past few months. References Asmainfo.com, (2014). Ajwan Gulf Real Estate Co. - AJWAN - Daily Summary- Kuwait Stock Market News, Price, Charts, Financials Analysis. Asmainfo.com, (2014). KSE - Kuwait Stock Exchange - News, Price, Charts, Financials, Research, Fundamental and Technical Analysis of Listed Companies. Development of Capital Markets in the Countries of the Gulf Cooperation Council. (2014). 1st ed. [ebook] pp.1-11. Finance.mapsofworld.com, (2014). Kuwait Stock Exchange. Financial Times, (2014). Kuwait can learn from Saudi capital market law - FT.com. Gulfbase.com, (2014). Commercial Bank of Kuwait | CBK | Company Overview. Imf.org, (2014). Kuwait: Concluding Statement of the 2014 Article IV Consultation. In.reuters.com, (2014). MIDEAST WEEKAHEAD-Slow progress on development projects puts Kuwait stock market boom at risk. Kitco News, (2014). KSE Extends Losses With 26.41 Pts Drop. kuwait.nbk.com, (2014). Kuwait: KSE corrects in 2Q14, but remains up thus far in 2014. warbaonline.com, (2014). COMPANY PROFILE.