Bangladeshi Constitution Changes over Time but It Don’t Reflect the Demand of the People of Bangladesh

Question: Bangladeshi constitution changes over time but it don’t reflect the demand of the people of Bangladesh. Introduction: Bangladesh Constitution changes over time in different government regime. There have been ongoing controversies and debates on some aspects of the current Bangladesh Constitution, especially every government came to power and amend the constitution according to their will. No specific and written proposal has ever been published by those governments; so we are unaware of the benefit of those Amendments which are intended.In my study, I tried to discuss about some important amendment about Bangladeshi Constitution. Especially I focused on reflections of the demands and choices of people on these changes. First Amendment: In 1973, the Constitution Act 1973 was passed inserting sub-art (3) in Article 47 whereby law can be enforced over war criminal and then fundamental human rights will be inapplicable. Flaws of this amendment: Govt. an misuse this amend ment and accuse someone as war criminal. As a result that accused people will not be able to have any kind of fundamental human rights. This amendment is not reflecting the need of mass people rather some political people. Third Amendment: The Constitution (Third Amendment) Act 1974 was passed to give effect to the agreement with India giving up the claim in respect of Berubari and retaining Dahagram and Angorpota. Flaws of this amendment:An Enclave is a geographical territory which is completely surrounded by foreign territory (including foreign territorial water) such a territory is called an enclave in respect to the surrounding foreign territory, and an exclave in respect to the territory to which it is politically attached. So after the exchange, the control of the corridor rested with the Indian authorities, and the problems of connecting other enclaves continue as before. Moreover the primary sufferers of this controlled corridor are the people of Bangladesh. Fifth Amendment: The Constitution (Fifth Amendment) Act was passed by the Jatiya Sangsad on 6 April 1979. This Act amended the Fourth Schedule to the Constitution by adding a new Paragraph 18 thereto, which provided that all amendments, additions, modifications, substitutions and omissions made in the Constitution during the period between 15 August 1975 and 9 April 1979 (both days inclusive) by any Proclamation or Proclamation Order of the Martial Law Authorities had been validly made and would not be called in question in or before any court or tribunal or authority on any ground whatsoever.The expression ‘Bismillah ar-Rahman ar-Rahim’ was added before the Preamble of the Constitution. The expression ‘historic struggle for national liberation’ in the Preamble was replaced by ‘a historic war for national independence. ’ One party system was replaced by multiparty parliamentary system. Fundamental principles of state policy were made as ‘absolute trust an d faith in the Almighty Allah, nationalism, democracy and socialism meaning economic and social justice. ’ Flaws of Fifth Amendment [1]:The Fifth Amendment was passed by a military government in the consequences of a series of murderous coups, counter-coups and government change. That period was very painful, undefined and critical for the ‘sovereign existence’ of Bangladesh as it faced hosts of political, economic and security challenges from both within and outside. One may have hesitations about some aspects of this or any other Amendment but it is important also to consider the overall situation prevailing at the time.And it is wrong, in my opinion, to condemn any or all the Amendments if the existing conditions demanded it, but we have a right, in fact obligations, to look at them critically and reassess the situation [2]. The leaders want to change the present Constitution, because according to them, the Constitution was made ‘Communal’ by intr oducing the words ‘Bismillah ar-Rahman ar-Rahim’ in the preface and by making ‘Islam’ the ‘state religion’ at the cost of the principle of ‘Secularism’.This brought about fundamental modifications to Constitution, which is true in my judgment, but I am not sure whether this made Bangladesh ‘more Islamic’ or ‘communal’ than before. It is noted that equal rights, including freedom to exercise all religions, are guaranteed in the Constitution. There may be some uncertainty and it is true that some fringe groups have been mixing for introduction of ‘Sharia Law [3]’. This, of course, is shocking the religious minorities for the potential loss of their religious rights and freedom under an ‘Islamic Republic’ in the style of Pakistan or Afghanistan under Taliban rule.Majority Muslims of Bangladesh are also concerned since such activities may encourage the extremist groups to adopt violen t and terrorist activities for a change of the government and the system. The word ‘Socialism’ was not omitted completely from the Constitution by the subsequent amendments but redefined by saying that it meant ‘economic and social justice’. This assured the West and pro-capitalist elements that Bangladeshi Socialism is not socialism in the real sense; it was not the socialism as it was then accomplished in China or Soviet Russia, and that there is no reason to be frightened.In the light of the major changes in the world economic and power relations over the last decades (especially since the collapse of Soviet model, end of Cold war, amendments in the Chinese model), debates on this ‘modernizing socialism’ in the Constitution is rather muted. Some of our former ‘Socialist revolutionary leaders’ are happily co-habiting with semi-feudal, pro-capitalist parties. The debate on ‘Nationalism’ (Bangali vs Bangladeshi) seems to be driven by emotion. Individually, I feel quite comfortable being known as a ‘Bangladeshi’ national with ‘Bangali’ cultural and linguistic tradition and with a Muslim faith.Citizens who are not Bangali but of other ethnic and cultural roots and profess any of the non-Muslim faiths should feel quite relaxed if their nationality is ‘Bangladeshi’. I find no contradiction in this kind of arrangement. But it is wrong to define all the citizens of Bangladesh as ‘Bangali’; they would not feel comfortable with is this classification. Those who raise controversies and unnecessary debates on this issue are not helping Bangladesh to establish its individual national identity. The issue of ‘Secularism’ is more complex as it is supposed to be more rogressive and all embracing as opposed to the word ‘Islam or Muslim’ in the Constitution. Whether the present Bangladesh Awami League government really wants to delete t he words ‘Bismillah ar-Rahman ar-Rahim’ from the preface and ‘Islam is the state religion’ from the Constitution to reinstate the word ‘Secularism’, remain to be seen. Still we may create a few comments for general conversation.[1] http://thetrajectory. com/blogs/index. php/2009/05/the-fifth-amendment-crisis-in-bangladesh/ [2] http://www. scribd. om/doc/2599618/12-Amendment-in-Bangladesh-Constitution [3] Sharia, or Islamic law, influences the legal code in most Muslim countries. A movement to allow sharia to govern personal status law, a set of regulations that pertain to marriage, divorce, inheritance, and custody, is even expanding into the West. Tenth Amendment: The Constitution (Tenth Amendment) Act 1990 amended, among others, Article 65 of the Constitution, providing for reservation of thirty seats for the next 10 years in the Jatiya Sangsad exclusively for women members, to be elected by the members of the Sangsad. Flaws of this amendment :The tenth amendment reflects the right of women regarding the participation in Jatiya Sangsad. But there are biasness regarding the female candidate selection procedure. Moreover some female member of parliament is worse then male MP, this unjustified selection makes the public representation procedure vague. Thirteenth Amendment: The Constitution (Thirteenth Amendment) Act 1996 provided for a non-party Caretaker Government which, acting as an interim government, would give all possible aid and assistance to the Election Commission for holding the general election of members of the Jatiya Sangsad peacefully, fairly and mpartially. The caretaker government, comprising the Chief Adviser and not more than 10 other advisers, would be collectively responsible to the President and would stand dissolved on the date on which the Prime Minister entered upon his office after the Constitution of the new Sangsad. Flaws of this amendment: The introduction of caretaker government is not as effec tive as it was thought. The caretaker govt. forms after a political party handover the power to the caretaker govt. and the duty of caretaker govt. is to make necessary procedure to arrange a free and fair election.But the previous political party can easily influence the caretaker govt. and then caretaker govt. will tilt the election procedure towards them. As a result the previous political party remains in the govt. position for nest 5 years. So there must be more clauses in the 13th amendment to rectify the behavior of caretaker govt. member. Analysis and Comments: It is observed from the above, that the Amendments made at one time under certain circumstances were replaced by another Amendment, and also that majority of these had a broad nationwide debate.But a few of those Amendments were enacted without proper debates and discussions. Whereas, people from different political view, religion should be involved in this process. Amendments that were the result of autocratic though t obviously come under severe criticisms, sometimes for valid reasons and sometimes for political purposes. Constitution is the superlative law of Bangladesh . It is the reflection of people's demands and needs. The government should think very carefully before making any fundamental changes in it.It should refrain from making major changes unless a national harmony is attained. History tells us fundamental changes of the Constitution by the one-sided action of the government have not brought successful result. Rather, it created hostility and division within the country when stability and unity were greatly needed for national prosperity. In any event, if any fundamental changes are to be made in the current Constitution, the prescribed procedure outlined in the very Constitution must be followed.Reference ; Bibliography: †¢Daily ittefaq, Article on ‘Contemporary debates for fundamental changes of the Constitution’, [online, retrieved on February 27, 2010], availa ble at:  http://www. ittefaq. com/issues/2010/02/27/news0888. htm†¢Bangladesh Strategic ; Development Forum, Article on ‘Strategic Relations Between Bangladesh And India’, [online, retrieved on October 9, 2007], available at: http://www. dsdf. org/forum/index. php? showtopic=32551;st=75;gt;†¢The Daily Star, Article on ‘The Tin Bigha corridor 15 years on’, [online, retrieved on October 13, 2007], available at: †¢Council on Foreign Relations, Article on ‘Islam: Governing Under Sharia’, [online, retrieved on October 5, 2010], available at: †¢RESDAL, Article on ‘The Constitution of the People's Republic of Bangladesh ’, [online, retrieved on October 12, 2010], available at: ;lt; http://www. esdal. org/Archivo/ban-pIII. htm;gt;†¢Daffodil University, Article on ‘THE CONSTITUTION OF THE PEOPLES REPUBLIC OF BANGLADESH’, [online, retrieved on October 11, 2010], available at: †¢Wikipedia 1, 2010, Indo-Bangladesh enclaves. [online retrieved on October 8, 2010], available at:   http://en. wikipedia. rg/wiki/Indo-Bangladesh_enclaves†¢YUDU, Article on ‘Current Changes in Constitution’, [online, retrieved on October 11, 2010], available at: †¢Bangladesh: Constitution, Law and Justice by Nagendra Kr Singh †¢Kamal, M. Bangladesh Constitution: trends and issues. 1994 †¢Islam, M. Constitutional law of Bangladesh. 1995†¢Rahman, L. The Constitution of the People's Republic of Bangladesh: with comments ; case-laws. 1994 †¢Ahemd, R. Religion, nationalism, and politics in Bangladesh. 1990

Classical management theory Essay

Classical management theory was introduced in the late 19th century. It became widespread in the first half of the 20th century, as organizations tried to address issues of industrial management, including specialization, efficiency, higher quality, cost reduction and management-worker relationships. While other management theories have evolved since then, classical management approaches are still used today by many small-business owners to build their companies and to succeed. There are three well-established theories of classical management: Taylor’s Theory of Scientific Management, Fayal’s Administrative Theory, and Weber’s Theory of Bureaucracy. Although these schools, or theories, developed historical sequence, later ideas have not replaced earlier ones. Instead, each new school has tended to complement or coexist with previous ones. Theory recognizing the role that management plays in an organization. The importance of the function of management was first recognized by French industrialist Henri Fayol in the early 1900s. In contrast to the purely scientific examination of work and organizations conducted by F W Taylor, Fayol proposed that any industrial undertaking had six functions: technical; commercial; financial; security; accounting; and managerial. Of these, he believed the managerial function, ‘to forecast and plan, to organize, to command, to coordinate, and control’, to be quite distinct from the other five. Fayol also identified general principles of management: division of work; authority and responsibility; discipline; unity of command; unity of direction; subordination of individual interest to general interest; remuneration of personnel; centralization; scalar chain of authority; order; equity; stability of tenure of personnel; initiative; and esprit de corps. Fayol’s views on management remained popular throughout a large part of the 20th century. Evolution of Classical Approach to Management Traditional process of learning is either through obsevation and experiment. Nature or environment is considered uniform and when we observe certain phenomenon or events uniformly leading to the same result or results, we conclude a cause and effect relationship between the two. This is learning by observation or in other words by experience. Earlier thinkers on management followed this approach in developing theories of management. Learning principally is through empirical process and through analysis of the data collected through observation. Draw the principles of management by looking at and analyzing the jobs that all managers commonly do. This approach served as a starting point for pioneers on management science to verify the validity and improve the applicability of the principles and practices of management. Analysis of observed data is what constitutes a case study. The observational method of case study helps arriving at logical conclusions about past experience and to test the same as standards for future events. The German socialists, Max Weber followed the classical approach and developed his theory of Bureaucracy, which portrays the structure and design of organization characterized by a hierarchy of authority, formalized rules and regulations that serve to guide the coordinated functioning of an organization. Basic Postulates of the Classical Approach by Max Weber 1. Management of an organization is considered as a chain of inter-related functions. The study of the scope and features of these functions, the sequence through which these are performed and their inter-relationship leads one to draw principles of management suitable for universal application 2. Learning principles of management is done through the past experiences of actual practicing managers. 3. As business environment consists of uniform cycles exhibiting an underlying unity of realities, functions and principles of management derived through process of empirical reasoning are suitable for universal application 4. Emerging new managers through formal education and case study can develop skill and competency in management concepts and practices 5. The classical approach also recognized the importance of economic efficiency and formal organizational structure as guiding pillars of management effectiveness. 6. Business activity is based on economic benefit. Organizations should th erefore control economic incentives Advantages and Benefits of the Classical Management Theory Hierarchical Structure One of the advantages of the classical management structure is a clear organizational hierarchy with three distinct management levels. Each management group has its own objectives and responsibilities. The top management is usually the board of directors or the chief executives who are responsible for the long-term goals of the organization. Middle management oversees the supervisors, setting department goals according to the approved budget. At the lowest level are the supervisors who oversee day-to-day activities, address employee issues and provide employee training. The levels of leadership and responsibilities are clear and well defined. While the three-level structure may not be suitable for all small businesses, it can benefit those that are expanding. Division of Labor One of the advantages of classical management approach is the division of labor. Projects are broken down into smaller tasks that are easy to complete. Employees’ responsibilities and expectations are clearly defined. This approach allows workers to narrow their field of expertise and to specialize in one area. The division of labor approach leads to increased productivity and higher efficiency, as workers are not expected to multitask. Small-businesses owners can benefit from taking this approach if they are looking to increase production with minimal expense. Monetary Incentive According to classical management theory, employees should be motivated by monetary rewards. In other words, they will work harder and become more productive if they have an incentive to look forward to. This gives management easier control over the workforce. Employees feel appreciated when being rewarded for hard work. A small-business owner can take this approach to motivate the employees to achieve production goals. Autocratic Leadership The autocratic leadership approach is the central part of classical management theory. It states that an organization should have a single leader to make decisions, to organize and direct the employees. All decisions are made at the top level and communicated down. The autocratic leadership approach is beneficial in instances when small-business decisions need to be made quickly by a leader, without having to consult with a large group of people, such a board of directors. Small businesses, especially sole proprietorships, can have an advantage in taking this approach, as they need a strong leader to grow. Faults with the Classical View The classical view of management is often criticized as viewing a worker as a mere tool to improve efficiency. Taylorism and classical management styles negatively affected the morale of workers which created a negative relationship between workers and managers.

Ethical and Socially Responsive Business Assignment

Ethical and Socially Responsive Business - Assignment Example As the paper highlights  executives and managers who have served the company with devotion are supposed to avoid ethical breaches. These ethical breaches might involve money or secret information  as it is also a part of ethical behavior as well. For the cheesecake factory’s code of ethical conduct, the second most important key area of significant importance is â€Å"Compliance with company policies and Procedures† which is all about that the company’s confidential information should be kept as a secret. It is necessary to hide the special recipes and other information to get success or to get a competitive advantage. Under this article of the code of ethical conduct, the other main key factor is prohibiting of insider trading.This discussion stresses that  the cheesecake factory should take some key steps in order to ensure that the employees of their company must follow the policies and code of ethical conduct. From the beginning of the working, it is go od to give awareness regarding the policies and code of conduct. To maintain all these rules and regulation there must be a single department should be working on it, which handles these kinds of issues before arising of any problem.   The other thing, which they can do, is to have the signed paper of the terms and condition or code of conduct when employee is being hired and keep a record of each signed paper by the employee in the employee file.

Analysing Information System Essay Example | Topics and Well Written Essays - 2000 words

Analysing Information System - Essay Example The task at hand is to present a comprehensive requirement analysis and select the most appropriate paradigm(s) for preparing the requirement analysis. The task also aims to be an effective exercise in information gathering. This section targets at presenting various requirement analysis models present in literature. Various models will be scrutinized and the most relevant strategy chosen to proceed towards the analysis development 2. The basic idea of the behavior-oriented approach is to study the behavior, the decision-making style, and the data used by the pertinent personnel to extract information for the development of a critical information framework for the generation of requirement analysis. Background analysis is necessary to understand a particular problem, only then the designer can forward. Backward analysis helps to determine if the personnel were faced with a similar situation earlier in time. This helps to gain an insight into how similar problems had been solved in the past. The top executives are then interviewed to determine the main causes of the new problem prior to gathering of detailed information about the problem and summarizing the problem. This sort of model finds best application while developing an executive information systems or top-level decision-support system. The prime hurdles impeding in the efficiency of this model is the inability to quantify executive behavior and overlooking the needs of over-looking the needs or middle managers, supervisors, and operational personnel because they are usually the primary users of an information system. The information-oriented model approach of specifying the requirement analysis focuses primarily on the information system products that will actually be used by the supervisory and the middle level managers. Investigating the information needs of the management gives a bottom-line compared to

Youtube case Study Example | Topics and Well Written Essays - 250 words

Youtube - Case Study Example Despite this fact, critics remain largely skeptical about the sites business model. Its lack of movie content has made it a bà ªte noire of critics. Hollywood producers, however, do not see YouTube as a home for their content, but rather as merely as a great promotion tool. YouTube has a number of products and services. YouTube has ad products, which are crafted around the way people actually use the companys website. These ad products have helped transform users activities on the site, like searching content, into appropriate advertising opportunities. Some ad products are promoted videos, which are videos with the type of content a particular user has searched for in the past. Another ad product is TrueView, which enables users to skip an ad entirely, but chargers advertisers if viewers choose the content and watch it the entire way through. YouTube also has click-to-buy products, where viewers become product consumers. YouTube services include Personalized Channels which is a predictive video service, similar to Pandoras service for music. In addition, YouTube has a streaming service, where important live events like sports and concerts from around the globe are broadcast live to viewers. Further, YouTube has a partner program, whereby, YouTube places ads next to popular videos or producers and they share the revenue from these ads. Other services include searching and viewing videos. YouTube has a competitive edge over its rivals. While other video programs like Hulu and Netflix continue to grow, they have not made a significant impression on the market. Nevertheless, Netflix and Hulu have other services which YouTube does not offer. For example, they have taken a lead in movies, which is still not well implemented by YouTube. Overall, it will take some time and increased efforts, before any competitor makes an impact on the video platform like YouTube has

The Risks of Sports Doping on Weight Lifters Research Paper

The Risks of Sports Doping on Weight Lifters - Research Paper Example However, doping is rampant some athletes have taken upon themselves and their managers to deceive the doping tests and have a competitive advantage over other athletes. Despite testing being done without advance notification and having a long list of banned substances, cheating by athletes has been rampant and more effective than in the past. It is with the understanding of the rampant cases of doping in sports that this study aims at understanding the risks of sports doping on weightlifters (Saugy et al., January 01, 1996). According to Thieme and Hemmersbach (2010), doping as a word first mentioned in the English dictionary in 1889 despite the attempts at enhancing performance by athletes have been a much older activity. Doping has its origins 5,000 years in China when the use of Ma Huang (an extract from the Ephedra plant) was used to suppress coughing and stimulate circulation (Thieme & Hemmersbach, 2010). Further, eating of testicles was recommended by Indian Physician Sutruta and used by the Huns around 300 BC, hallucinogenic mushrooms in 3 BC show the development of doping in sports. Strong stimulants like cocaine, alcohol, caffeine, and strychnine would later be used by cycles and other athletes to promote endurance (Baron et al., January 01, 2007). Mariani wine that would lead to the conferring of a gold medal to Vin Mariani was also used widely but was banned by Germany in 1920. Start of human tests to reduce athlete doping revealed numerous cases of doping and the start of banning by The Inter national Athletic Federation (IAAF).  

The Exchange Rate Regime of Thailand, purchasing power parity of Essay

The Exchange Rate Regime of Thailand, purchasing power parity of Thailand - Essay Example Population of Thailand is relatively homogeneous, which consists of Buddhist 94-95%, Muslim 4-5%, Christians, Hindus and others. More than 85% of its population speak Dialect of Thai and share common culture. Like many other countries of the world, Thailand also witnessed many ups and down and was occupied by the Japanese during Second World War. Since Japan’s defeat in 1945, Thailand has had very close relations with the United States. Threatened by communist revolution in neighboring countries, such as Vietnam, Cambodia and Laos, Thailand actively sought U.S assistance to contain communist expansion in the reason. Recently, Thailand also has been an active member in multilateral organizations like the Association of South East Asian Nations (ASEAN) and the Asia-Pacific Economic Cooperation (APEC) forum. 1.1 Economic performance of Thailand: - The Thai economy is export dependent, with export accounting for 60% of GDP. Thailand recovery form the 1997-98 Asian financial crises relied largely on external demand from the United States and other foreign markets. The Thaksin government took office in February 2001 with the intention of stimulating domestic demand and reducing Thailand reliance on foreign trade and investment. Since then Thailand has embraced a â€Å"duel track† economic policy that combines domestic stimulus with Thailand’s traditional promotion of open market and foreign investment. Weak export demand held 2001 GDP growth to 2.1%. Beginning in 2002, however, domestic stimulus and export revival fueled a better performance, with real GDP growth at 6.9% in 2003 and 6.1% in 2004. Before the financial crisis, the Thai economy had years of manufacturing-led economic growth –averaging 9.4% for the decade up to 1996. Relatively abundant and inexpensive labor and natural resources, fiscal conservatism, open foreign investment policies, and encouragement of the private sector underlay the economic success in the years up to 1997. The economy is

Type Of Tax-Book Difference Essay Example | Topics and Well Written Essays - 2250 words

Type Of Tax-Book Difference - Essay Example The contribution that can be deductible by the employer must not exceed 25% of employee's total compensation (Green, n.d., retrieved 07.09.06). The employer receives a tax deduction equaling his contribution in the employee's defined contribution plan. The employees benefit from deduction of contribution from pre-tax salary, which enables them to save taxes and fund the retirement plan with the gross amount. The tax continues to be deferred until the plan is distributed and therefore there remain opportunities for fast investment growth (Building Your Retirement Funds, 2006). The advantages for defined contribution plan are that this plan allows the employees to save the tax payments until the plan is withdrawn, employees also benefit from employer contribution into the fund, the employees will have the opportunity after the retirement to either receive the entire amount or a series of payment over their entire life etc. The major advantage for employer underlying this plan is that it enables him to evade the risk on investment and also the burden of plan contribution is shared between the employer and the employees. Its major disadvantage is the complexity and strictness of the rules concerning the plan administration (Employer-Sponsored Retirement Plans, 2005). Being the one who establishes the pension plan, an employer is expected to administer it and meet its requirements. The employer will monitor and supervise the investment poured into the plan and review the growth of funds. Moreover, he is also required to provide periodical information to the e mployees concerning the operation and status of the invested funds (Retirement Plan Basics, n.d. retrieved 08.09.06) The contribution on the part of employer is limited to a maximum of $40,000 or 25% of the employees' compensation whereas, for the year 2006, the contribution by employees has been defined as limited to 100% of his compensation up to the maximum of $15,000 (Green, n.d., retrieved 07.09.06). The distribution from a defined contributed plan is not allowed whilst the employee is still working. However, when this distribution takes place, it is taxed as an ordinary income. The Internal Revenue Service states the minimum age limit for pension plan distribution as 70-1/2 years, from which the employees should start withdrawing the funds. The distribution is not allowed before the employees reach the age of 59-1/2. If it is done, the investment would be subjected to an early-withdrawal penalty of 10% (Retirement Planning, 2006). The financial statements of XYZ Corporation should include a statement of net assets available for benefits at the end of the plan year. Moreover, the company also needs to present a statement of changes in net assets available for the benefits at the same time. Also, the GAAP requires the financial statements to be prepared under the accrual basis so as to ease the evaluation of plan assets composition (Defined Contribution Pension Plans, 2005) REQUIREMENT 2 Type Of Tax-Book Difference The discrepancies in the rules and principles set down for financial reporting and tax accounting lead to significant differences in the tax amounts shown in financial statements and the tax returns. These differences are known as the book-tax differences, which are further classified as either temporary or permanent tax differences (Michel, 2005). Permanent tax difference originates when an income or expense amount needs to be recognized by any of the two methods but not by both of

Biotechnology Essay Example for Free

Biotechnology Essay Biotechnology is a subfield of biological science linked to research areas such as recombinant DNA technology and genetic engineering. As a result biotechnology is applied in a wide range of industries (Chen Marchioni, 2008). According to the Biotechnology Industry Organization, one fourth of the Biotechnology industry’s financing comes from venture capital and it is not just in terms of money but also managerial guidance to the biotechnology firms. This is attributable to the fact that biotechnology is a knowledge intensive industry and a large amount of capital is needed for research and development (Chen Marchioni, 2008). Venture capital financing is favored by the majority of business startups including the biotechnology companies. Venture capital is an equity investment until the company matures. Venture capitalists are involved in the development of a biotechnology firm by becoming board members. The venture capitalists also advice the biotechnology firms on potential strategic partnerships (Munroe Gary Hutton, 2002). This gives the venture capital backed firms an added advantage over the non-venture capital backed firms. Literature Review Although venture capital accounts for a small fraction of the entire funding in the United States, it plays a major role in the financing of biotechnology companies. The biotechnology companies that are funded through capital venture outperform their counterparts in job creation and revenue growth. In the first quarter of 2009, the biotechnology sector received the biggest amount of funding in comparison to the other Life Science companies. This was however, a 16% decrease from the fourth quarter of 2008, constituting a downward tread in the funding of Biotechnology, Medical Devices and Pharmaceuticals (VentureDeal, 2009). Due to the prevailing economic crisis, the funding in biotechnology has reversed from an upward tread as the amount of funding has decreased as well as the numbers of companies funded. Sangart Company which researches and commercializes technologies related to oxygen transport agents received $50 million in the sixth round, the largest venture funding during the first quarter. BioVex Company on the other hand received $40 million from a large syndicate of venture capital firms in the sixth round of funding (VentureDeal, 2009). There are success stories in biotechnology venture capital. One example is the case of Thomas Tedder. Tedder collaborated with a venture capitalist, Intersouth and the company provided seed money that helped Tedder’s company called Cellective Therapeutics to develop a business plan and to finalize the licensing agreement. This helped Tedder to focus on the technology development. In due course, Cellective Therapeutics proved a success and the company was sold off at the one year anniversary to MedImmune (Gwynne, 2009). From the venture capitalists point of view, there are issues that are unique to a biotechnology perspective. The venture capitalists look for unique technologies which are critical to the biotechnology field as they are also looking for a market. This means that the venture capitalists are keen on areas such as disease areas which have a large market. The attractive types of research are those that have a widespread target such as cancer, diabetes and infection areas (Rosenman, 2001). Some of the major venture capital firms in the United States are Alta Partners, BA Venture partners, Forward Ventures, Genentech, Latterell venture partners, MedImmune Ventures, Soffinnova ventures and Intersouth (Gwynne, 2009). The geographic clustering of venture capital financed biotechnology firms is similar to the geographic pattern of the biotechnology industry. The biotechnology businesses are clustered together in a region for several benefits. Through the clustering, the companies achieve scale economy; have knowledge and technology spill over in addition to labor pooling and a decrease in transaction costs. The clustering of firms in similar locations makes it easy for workers to change jobs without the need for traveling long distances for interviews and they may not need to relocate homes after a transfer. Labor mobility hence facilitates the exchange of technology, information and knowledge among the biotech firms. Through geographic proximity, the transaction costs are decreased in addition to personal contact being maintained (Antonelli, 2000). This allows in-depth and fast feedback among the economic agents involved and helps build trust, and incentives in economic relationships thus reducing transaction costs. This enhances socialization within the professional network and stimulates co-operation, competition and innovation (Storper Venables, 2004). These are important factors for life science knowledge. The clustering of biotechnology industries relies on venture capital availability, life science knowledge, large pharmaceutical firms and urban diversity. Before the first biotechnology firm, Genetech, was established in 1977, practitioners of genetic engineering were located around universities and research institutes. These universities and institutions also provide quality labor force. Consequently, the areas that are in close proximity to the science research institutions have better access to trained graduate and post graduate students. In the biotechnology industry, much of the venture capital is concentrated in California and Massachusetts, including San Francisco, San Diego and Boston (Gompers Lerner, 2006). Methodology This research employs several methods to investigate the importance of venture funding to the biotechnology firms. Examination on the literature review on the subject of venture funding in biotechnology firms supports the conclusions on the industry. However when conducting research, a researcher is always faced with the task of identifying the methodology to use. This is due to the fact that the researcher has to consider the research question (Morgan Smircich 1980, pp. 491-500). A researcher can lay more adopt either a positivist or post-positivist approach depending on whether the research focuses more on social sciences or natural sciences. The literature review in a research plays an important role in the research as the researcher needs to consider the different perspectives and possibilities before making any conclusions (Armitage Keeble-Ramsay 2009, pp. 1-36). The review of various information sources helps the researcher in understanding the implications of the research process. According to Knalf Breitmayer (1991), the authenticity as well as reliability of the literature review is key in any research. The researcher first has to consider the research options in addition considering the data collection methods. This said, the accessibility and availability of numerous sources of information has necessitated the need for a systematic methodology that can be used in decision making. In this research on venture capital in the biotechnology industry, the emphasis is on the existing firms, the firm’s location and funding. This is mainly achieved through analysis of documented sources and case study reviews. The case studies have inherent strengths that allow tailoring of data collection processes to the research question. Nowadays it has become common for researchers to combine both qualitative and quantitative data collection methods so as to increase the validity of the data collected (Denzin Lincoln 1994). Data Analysis Data analysis helps the researcher interpret the findings of the research hence it is crucial in any research. According to the research, the majority of biotechnology firms depend on venture capital funding to a greater extent. This study investigated the funding of biotechnology firms in relation to venture funding. All proposed hypotheses are supported using analysis, indicating that biotechnology firms favor venture funding. It also shows that the biotechnology firms are clustered in the same areas where there are life science research base, large pharmaceutical firms, many capital venture providers and a large pool of scientists. There is no surprise that biotechnology firms use venture capital as opposed to other forms of lending. The finding that the biotechnology firms are also located in urban areas with talent and a favorable environment for new ideas and breakthroughs is also in line. On the other hand, venture capital is not only important in terms of financial support but also in providing insights, managerial skills and entrepreneurial spirit to the newly established biotechnology firms. Results Biotechnology funding however still has many huddles one of them being lower IPO valuations which has quashed early venture capital funding. The majority of the venture investment has avoided the innovative early stage research and opted for the specialty established companies (Robbins, 2005). Conclusion This study examines venture capital funding in the biotechnology industry. The research examined the sequence of events that take place during the funding and subsequent setting up of the biotechnology firms. The research objectives require the involvement of both the biotechnology firms and the venture capital firms in order to fully understand the relationship as well as the key factors in their relations. The researcher designed and put to use several research instruments to facilitate in the research. The main aim of the research was to bring to the fore the issues involved in the funding process.

A 17th century audience Essay Example for Free

A 17th century audience Essay The Tempest is full of magic and illusion. Consider the effect this would have on a 17th century audience and a 21st century audience. How might the magic and illusion be presented today? William Shakespeare wrote The Tempest as a play. It was not intended for the text to be read by school children from a book. It was intended for performance in a theatre, where it would give enjoyment to an audience. One of the main themes of The Tempest is magic. Prospero is a magician, a sorcerer, a wizard, someone with magical powers. He uses these powers to make lots of things happen within the play. Indeed, the first scene focuses on the storm that Prospero has created to cause havoc on the ship upon which his enemies are travelling. At the beginning of the play, the storm just seems like any other storm, with an unfortunate crew being shipwrecked. By the end of Act 1, however, we discover that the storm was not a natural occurrence. Prospero conjured up the storm and deliberately picked out that ship. The audience get their first hint of this in Mirandas first speech of the play. Miranda has watched the storm destroy the ship and she feels pity for the shipwrecked people. In her opening line, she asks her father if the storm is a product of his magic: If by your art, my dearest father, you have Put the wild waters in this roar, allay them. This shows that Miranda knows about Prosperos magic. She may not know everything that he does with his powers, but she knows that he does have supernatural powers. This storm is the beginning of a plan that Prospero has thought up to wreak revenge on his enemies. The plan involves a lot of magic. After being stranded on the island for 12 years, Prospero has had time to perfect his powers and to dream up a plan, a plan that never could have taken place without the storm. Because of this, the initial storm has a massive impact on the rest of the play. It also gives the audience an idea of how strong Prosperos powers are. He is able to control the elements, something that only God is supposed to be able to do. However, as we learn later on in the play, Prospero may be able to conjure up storms and illusions, but he cannot control human nature, and must rely on good luck when trying to make Ferdinand and Miranda to fall in love.