Enumerate the elements of personal essay
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broken chair essays The neighbour's got this new thing with the stegosaurus and Adam's trying not to be a dick about enumerate of personal essay, it. Lyrical And Critical Essays? The problem he's having is that it breathes so goddamn heavy and loud it keeps him awake all night. The Elements Of Personal? He tries telling himself he's just making a mountain out of online creative sites, it. Essay? That the neighbour on the other side has a dog that barks like a mother fucker and he doesn't let that bother him. So surely he can let this slide. You know, keep the peace and all that. The problem is that this morning he’s heading to work and he goes outside to get in his car, and harvard essay, his car had been completely crushed.
It’s as flat as piss on a plate, and enumerate the elements essay, has these enormous foot-print-sized holes in the top of it. He just stands there with his brown leather briefcase and his brown leather shoes and stares at his completely destroyed Jumanji car. He opens his briefcase and takes out some paper and a pen. He writes the &EAP following note: Your stegosaurus destroyed my car. Call me immediately, we need to talk. Enumerate Of Personal? 555-3466. Adam. Lyrical Essays? He tapes the essay note to the neighbour's side of the fence and harvard format, goes inside to wait by the phone. He waits by the phone all day.
He checks his watch and looks at the clock on of personal the wall and listens to the stegosaurus walk around and breathe and be enormous. Essay On Professional? Every once in a while the dinosaur walks along the enumerate the elements of personal essay fence and he can see, just over in a reflective essay the edge, the double row of satellite dish sized spikes, taunting him. Adam seethes with anger. The Elements? The phone doesn’t ring all day. Night settles in and Adam lies in bed staring at the ceiling. His red bedroom curtains reach out into the night then hurry back into reflective the warmth of the enumerate the elements essay indoors. Reflective? Out and back in.
Out and the elements of personal essay, in. All in time with the lyrical and critical essays Stego's heavy breathing. Morning brings new light, but not new cars, and so Adam is enumerate essay standing on his neighbour’s front step holding his fist up to the door but not actually knocking. He wants to knock and is thinking about knocking and lyrical essays, is even working out the elements, some practice knocks, but he can't seem to pull the trigger. If a photograph were taken of him right now and lyrical and critical essays, reviewed at the elements of personal essay, a later time the reviewer would definitely say that Adam was knocking on harvard essay format font the door, but they would be wrong. Adam lowers his fist and stares at the door, sighing heavily. Enumerate? He looks at the fence. The note is still there. They hadn't seen the note. They'd come and gone and just hadn't gotten the message that's all.
Adam decides that, in light of this, he will give it one more day. He turns, gives the hvordan dinosaur the enumerate of personal essay finger, and goes back inside to wait by the phone. Three days later Adam is knocking for real. He's got the screen door open and his fist is hitting the frame of the between door beside the window. He figures this is an appropriate place to knock. He is thus far pleased with the result because his fist on enumerate the elements the wood is making a satisfyingly thud, while additionally, the window is rattling just a bit. Not enough to be inappropriate, but just enough to get his point across. When the door opens a young woman is standing in a tank top and pyjama shorts. She has tattoos all down her arms. Adam's mouth is hanging open because he was going to talk but is instead looking at the woman's arms.
There are birds and poetry and a train and online creative writing, some musical symbols. They cover her arms from enumerate the elements of personal essay, her exposed shoulders all the way down to her wrists. Hey, can I help you? Adam stops looking at a bluebird with a clef note in its beak, and looks up, at the woman's face. She's wearing glasses.
She's looking back at him. Adam didn't have much luck with the ladies. He was looking forward to his neighbour being a 38 year old man with a lisp and a dirty Yankees t-shirt. Lyrical Essays? uh, uhm, yes. Yes you can actually. My name's Adam, I live just next door there, Adam pauses but the woman is silent. See the of personal essay problem I'm having is just with your uh, with your Stegosaurus. See I don't mind pets, I actually like them, I used to have a dog growing up, he barked a lot, and we called him Barkly until we had to put him down, he was old you see. In A You Should? So far so good. The woman looks at Adam, right at his face, his eyes.
She waits, listening patiently. So, right, so see the problem isn't you having a pet dinosaur at all really, it's just that, see I park my car out there in the alley way, just on the other side of the fence there, and well I guess maybe your dino must've gotten out one day and well he definitely destroyed my car. I mean if it was a scratch or just you know, something small maybe I'd be ok, right, I mean it's an old car, but well. it’s pretty flat now, you know, much flatter than a car ought to be. The woman with the bird and poetry and music tattoos looks up at essay, Adam and waits for him to finish. When he's done she squints her eyes and cracks her lips into a smile. Is this some kind of joke? Did somebody put you up to essays, this? Adam tries not to look too confused, Uh, n.. no, no joke. I don't mean to make a huge fuss really, I mean I know it can't be easy to keep a Stegosaurus under control, b. Wait, what do you mean, a Stegosaurus? Like, a DINOSAUR?
Uh well, yes, from the late Jurassic period to the elements of personal essay, be exa. Hey mister, Adam, was it? Yeah Adam, look I'm sorry if something happened to your car. I don't know who it was, or what it was, but it wasn't me, and it also wasn't a dinosaur. Dinosaurs are extinct. Essay Font? Have a nice day.
The door slams with a crash and the window rattles the way it did when Adam knocked. Adam looks behind him in the yard. An empty, quiet yard. The grass needs a mowing and the fence is in general disrepair, but there is no dinosaur. Adam a little frustrated, defeated and confused, starts walking back to his house when he almost runs into his car. The 2003 Honda Accord rests directly in front of him in pristine condition. It isn't a flashy car, more of a responsible decision really. Reliable, and cost effective, a budget friendly car.
The car is a lot of things, but it isn't flat or destroyed at all, in fact it’s even cleaner than he remembers it. Adam stares at his car for a very long time. He touches the roof and the door handle. Of Personal? He looks at Garfield clinging desperately to the rear window. He turns and goes into harvard format font his house. The Elements Of Personal? There are 17 messages on his answering machine. They are all from his employer. They are all messages asking him where he is. They get progressively more impatient every time he hits the next button like flipping the pages of A comparison between &EAP, a sketch pad and watching a smiling cloud get angrier and angrier until finally.
Adam it has become very clear that you've decided to make your job not only less of a priority but simply not one at all. We believe that your time and ours would be better served if you didn't come into the office anymore. Adam looks at the now silent answering machine, then out the window to his responsible, extremely not flattened car. He slumps in his kitchen chair and stares at the ceiling. Out of the of personal corner of his eye he can see the double row of spikes floating just above the edge of the essay font fence.
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What are the components of a personal essay? | eNotes
Honor Roll Essay Essays and enumerate of personal Research Papers. Bread Paneer Rolls are probably the between IELTS, easiest and quickest snack you can make with some bread slices and paneer filling. I make this often with . different variations of of personal essay paneer fillings to make a nice snack for tea time. Bread Paneer Rolls Recipe Ingredients: 1 cup cottage cheese (paneer) 1 small onion, chopped finely 1/4 tsp cumin (jeera) powder 1/4 tsp garam masala 1/2 tsp ginger garlic paste A small bunch of finely chopped corriander(dhania) 1 green chilly finely desseded and chopped. Alexander Pope , Cumin , Essay 894 Words | 3 Pages. ?Victoria Vasquez National Honors Society Essay To me, National Honors Society’s four pillars are essential . Essay Identity! elements to being a member of this society. Scholarship and leadership are the enumerate the elements of personal, two pillars that I feel complement each other because one should be a leader in reflective essay, the community and school without forgetting to be a good student and scholar. Service and character go well together because in order to provide services to students or members of the community, it is necessary to enumerate the elements essay, have a good character. 927 Words | 2 Pages.
?Sanpreet Singh G# G00968684 George Mason Honors College Essay How Much Sleep does one Really Need Sitting in the middle of . A Comparison Between IELTS &EAP! class and enumerate of personal all of a sudden you start nodding on and off. And you wonder why your eyes are closing in class. You missed all the information from the chapter which is going to be on the test which you didn’t hear your teacher announce was going to be tomorrow. After a week of continuous struggle in class trying to keep your eyes open causes you to drop from an A down to essay on professional identity, a C+. Education , Homework help service , School 828 Words | 3 Pages. Kaiser roll , also called a Vienna roll or a hard roll (original name: Semmel or Kaisersemmel; if made by enumerate of personal, hand also: . Handsemmel), is a kind of bread roll , supposedly invented in Vienna, and thought to have been named to essay identity, honor Emperor Franz Joseph. It is essay, a typically crusty round roll made from flour, barm, malt, water and salt, with the top side usually divided in a rotationally symmetric pattern of five segments, separated by engelsk hvordan, curved superficial cuts radiating from the centre outwards. Kaiser rolls are. Beef on enumerate of personal weck sandwich , Bread , Bread roll 856 Words | 3 Pages. Rock N Roll Research Essay Alice in online sites, Chains.
? Rock N Roll Research Essay . Over the year’s rock and roll has been shaped and changed by enumerate essay, many bands who have either added on; or have changed the sound of rock to a higher level. Between! The bands who have change it significantly are recognized greatly for their contributions. Conversely, there still are bands out there that have contributed greatly and are not recognized on such a high level of fame. Addiction , Alice in Chains , Drug addiction 1383 Words | 5 Pages. Sarah Amador Dr. Hodges ENG 337 April 13, 2013 Honor or Something “What is honour? a word. What is in the elements essay, that word honour? what is and critical essays, . that honour? air.
A trim reckoning! Who hath it? he that died a Wednesday.” –Falstaff, Part I of Henry VI That is a good question. What is honor ? What does it mean for one to have, or to the elements of personal, have gained honor ? Well, according to the dictionary, honor means “honesty, fairness, or integrity in one’s beliefs and actions,” or it could mean, “high respect, as for creative sites, worth, merit. Falstaff , Henry IV of England , Henry IV of France 1537 Words | 4 Pages. a) Company Information. Rolls Royce PLC is the second largest multinational organisation that produces power integrated systems after GE . Enumerate The Elements Of Personal Essay! Aviation. Rolls Royce operates in four different types of economic markets which are the civil and defence aerospace market as well as the marine and energy markets. The company makes engines for jets, helicopters, and lyrical and critical essays turboprop aircraft not only do they produce engines but they also install these systems. Rolls Royce PLC has 50,000 engines in the elements, service with 500. Airbus , Budget , Cost 2048 Words | 6 Pages. THE CINNAMON ROLL An Essay On a Pastry by essay hvordan, Lauren K. Bennie Cinnamon buns!
A truly delectable treat that makes the enumerate the elements essay, world spin . 360 degrees. It's hard to online creative, find someone who doesn't like a good sticky bun in today's society. And those who don't are called hipsters and are generally hated. We don't hate them just because of enumerate of personal essay their cardigans and scarfs. No they think they're better than everyone else and therefore are disliked widely. Creative! But back on topic, sticky buns are simply scrumptious.
With the perfect. Cinnabon , Cinnamon roll , Pastry 835 Words | 3 Pages. Yiming Yu 11/26/2012 National Honor Society Application Essay It is unbelievable that this year is my last year in . Charlestown High School. As I look back at enumerate the elements of personal essay the past three years, there were several poignant moments when I was struggling with my classes and between &EAP would have given up trying to achieve my goals. But as a diligent student, I chose to endure those moments. The Elements! And that is how I become an identity outstanding student today. National Honor Society honors students who have demonstrated excellence in. Education , Grade , Help me 669 Words | 2 Pages. Critical Essay Honor and enumerate essay Slavery Perhaps one of the strongest elements of slavery is harvard essay font, honor . . Honor has had a wide range of impact in history, whether it was shaping major dynasties and hierarchies, deciding an individuals’ role in society, or family ties and enumerate the elements marriages.
This sense of worth, high esteem, or virtue was also manipulated by slave masters in order to control their slaves. “The slave could have no honor because of the origin of his status, the indignity and all-pervasiveness. Atlantic slave trade , Master , Serfdom 2409 Words | 6 Pages. Honor Society and National Junior Honor. National Junior Honor Society Essay National Junior Honor Society is a great opportunity for me; something that I . am really excited to have. I would love to be involved in NJHS and share my ideas and listen to others ideas about fundraisers and identity collecting donations. I believe I have all the qualities to be apart of the NJHS. Scholarship, Service, Leadership, and Character. I love helping and have participated in the elements of personal, many charities. For example, every year for Easter and Christmas our family donates. High school , Honor , Honor society 1167 Words | 3 Pages. dictionary, honor is a high respect that is earned through deeds and engelsk hvordan reputation.
But, what is honor , and how does one receive it? . Honor is like many things that are hard to put into words. Along with that, honor can be totally different, depending on your perspective. In the play, A Few Good Men, there is a central theme based around honor , who is doing right and enumerate who is online writing sites, doing wrong. The definitions of honor accepted by each person are so outstandingly conflicting that the play analyzes what honor is and. A Few Good Men , Marine , Royal Marines 883 Words | 3 Pages. Rolls Royce For over a century Rolls Royce automobiles have been the pivot point of high-class transportation.
The . Rolls Royce Company was founded in the elements essay, 1906 by Henry Royce and Charles Rolls (Encyclopedia 78). Rolls -Royce grew from the electrical and mechanical business established by Henry Royce in 1884. Royce built his first motor car in 1904 and in May of that year met Charles Rolls , whose company sold quality cars in London. Agreement was reached that Royce Limited would manufacture a range. Automobile , Centimetre gram second system of units , Rolls-Royce 832 Words | 3 Pages.
in society and must be used with, “extreme caution,” not racial. In the essay , “What is Race?” Victor Fernandez talks about his experiences in . the emergency room as a nurse, and identity see’s how the term is used in a medical environment regularly. Fernandez explains that race is a, “biologically meaningless category” and has a, “social and enumerate the elements of personal essay political significance because of racism.” Fernandez also makes valid points about the A comparison &EAP, essay on enumerate the elements essay how, “in spite of our apparent differences, which are skin deep, all. Black people , Discrimination , Human skin color 800 Words | 3 Pages. Honor and Shame in online creative sites, the Time of Palestine. Lamoreaux Honor and enumerate the elements essay Shame in the Time of Palestine In first century Palestine, . honor and shame were important to social elites because the two values defined the status within the format font, communities. Of Personal Essay! Honor is an important status because it is what separates the higher classes from the online creative writing, lower classes. Shame is enumerate essay, the opposite essay identity, of honor because it can lower social status through humiliation and disgrace.
Once one loses his honor , it becomes difficult to enumerate essay, regain it, if. Bread , Gospel , Jesus 1173 Words | 4 Pages. Summer Roll (G?i cu?n) A summer roll or fresh roll (g?i cu?n) is a Vietnamese dish consisting of pork, shrimp, . A Comparison &EAP! herbs, bun (rice vermicelli), and enumerate essay other ingredients wrapped in essay on professional, rice paper. They are served at room temperature, and are not deep fried. Summer roll has gradually gained popularity among Vietnam's neighboring countries and in the West. G?i cu?n are called by enumerate the elements, several different English names, including salad roll , fresh roll , fresh spring roll , and summer roll . Sometimes the. Appetizers , Rice paper , Rice vermicelli 758 Words | 3 Pages.
English 9 Pre-Diploma • In-class essay next block – Tuesday/Wednesday, February 14/15 Achilles and Hector’s Outlook on: • War • Duty • . Essay On Professional Identity! Heroism (#3 on page 380) Three-Column Chart Topic War Duty Heroism For homework, you must find textual evidence that supports each character’s outlook on the three topics. Achilles’ Outlook Hector’s Outlook Achilles • Believes that heroism is enumerate the elements of personal essay, symbolized by engelsk hvordan, tangible prizes • Experiences internal conflicts about the purpose and validity of the elements war. Achilles , Agamemnon , Briseis 1128 Words | 5 Pages. for every excuse to get rid of online creative writing sites someone. Essay! Wear and appearance means to me is that you should be in essay on professional identity, the right uniform at times when instructed or permitted, is . should be clean and serviceable and be to military standards.
The reason i am writing tho essay y is i simply got lazy towards the exercise in Graf and i decided that packing my gear and others things where more important then my appearance in my military uniform. i decided not to shave and enumerate of personal therefore that action i was confronted by another NCO. Army , Army Combat Uniform , Military 1151 Words | 3 Pages. Tootsie Roll Industries Inc. Loan Package Tootsie Roll Industries Inc. and its branches makes and sells candy including . “Andes mints, Junior Mints, Charleston Chew, Mason Dots, Sugar Daddy, and the ever popular Tootsie Roll , which has been made from the same formula for over a 100 years” (Hoovers Academics, 2012) Tootsie Roll Industry’s customers include a wide variety of supermarkets, dollar stores, discount warehouse clubs, fund-raising charitable organizations, and the United States. Balance sheet , Currency , Financial ratio 1147 Words | 4 Pages. supply chain’, showing that only analysis of the whole chain makes the difference. To analyze supply chain performance there are following drivers . to consider: facilities, inventory, information, transportation, sourcing and pricing. Rolls -Royce’s business is on the products with long life cycle. Essay Identity! Gas turbines are not a commodity product and it takes years to come up with a new system. This fact allows the the elements, company to achieve strategic fit, stay competitive and generate revenues over the.
Inventory , Management , Rolls-Royce 1015 Words | 3 Pages. 2.10B Honors : Crucible Essay The word Crucible can mean couple of things, however the definition that stands out the most is . ' A place or occasion of severe test or trial '. Essays! Just reading it, it could mean numerous things, however after reading the play, The Crucible, it makes a little more sense. In this play, test and trial is exactly what goes on. Women were being accused of performing witchcraft and enumerate the elements being witches, which meant they would go to trial where they would either accept or deny this. The Crucible 596 Words | 2 Pages. Rolls Royce Prepared by: I. Outline: * 1st paragraph: Introduction to the world of Rolls Royce * . IELTS! 2nd paragraph: Popular Rolls Royce Models – Phantom * 3rd paragraph: Approach to the elements of personal essay, the Phantom * 4th paragraph: About the Rolls Royce Ghost. A Comparison &EAP! * 5th paragraph: Future of Rolls Royce II.
Introduction Driving at speeds of 250 km/h in enumerate, a top of in a reflective essay its kind car is indescribable. Or you could cruise by enumerate of personal, the country side in the back seat with a chauffeur on. Rolls-Royce , Rolls-Royce Limited , Rolls-Royce Motor Cars 764 Words | 3 Pages. Importance of Honor Guard “At every crossroads on the path that leads to the future, tradition has placed 10,000 men to guard the you should, . past.-Maurice Masterlinck. The Elements! Being a volunteer member of a military base honor guard, there are numerous reasons that require full effort and essay font dedication. It is the elements of personal, important that we, ceremonial guardsmen, strive to creative writing sites, stay true to the creed put forth for us. Respect, integrity, inspiration, professionalism and tradition are key to being an effective member of the honor guard. Enumerate Of Personal! . Armed forces , Honor guard , Member of Parliament 1350 Words | 4 Pages. Tootsie Roll Lab Earth Science/ 3rd hour Abstract: Our question for our lab is to hvordan, find out “How many chews does it take to chew a . tootsie roll /frootie?” We are doing this lab report with this question to improve our lab writing skills. My hypothesis was that it will take approximately 30-45 chews to eat one tootsie roll /frootie, depending on the person chewing it.
The materials that you will use are listed below: * 1 Cran /Blueberry. Chewing tobacco , Digestion , Mastication 959 Words | 4 Pages. Essays are generally scholarly pieces of writing written from an author's personal point of view, but the definition is enumerate of personal, vague, overlapping with . those of an article, a pamphlet and in a you should a short story. Essays can consist of a number of elements, including: literary criticism, political manifestos, learned arguments, observations of daily life, recollections, and reflections of the author. Almost all modern essays are written in prose, but works in verse have been dubbed essays (e.g. Alexander Pope's. Alexander Pope , Essay , Essays 1053 Words | 4 Pages. the examples of the open system is the Marketing department.
It regularly exchanges feedbacks with its external environment to have a better under-standing . of the market and consumer needs. Rolls -Royce is open system taken as a whole, while their sub-systems may be either open or closed. Enumerate The Elements Of Personal Essay! Open system in engelsk, Rolls -Royce will be Human Resource department as they have to recruit employees therefore requires them to work with external parties to find suitable candidates. Operation/ Technical department will. Abraham Maslow , Maslow's hierarchy of needs , Personal development 2401 Words | 7 Pages. probably noticed, essay writing assignments can pop up in any class. An essay is a literary composition that expresses a . certain idea, claim, or concept and backs it up with supporting statements. It will follow a logical pattern, to include an introductory paragraph (make the claim), a body (support), and a conclusion (summary of statements and support). Enumerate! English and literature teachers use them on a regular basis, but essays are required in many other types of classes. Essay exams are also a. Abstraction , Essay , Fiction 876 Words | 3 Pages.
disquisition, monograph; More 2. formal an attempt or effort. a misjudged essay synonyms: attempt, effort, endeavor, try, venture, . trial, experiment, undertaking his first essay in on professional, telecommunications a trial design of a postage stamp yet to be accepted. verbformal verb: essay ; 3rd person present: essays ; past tense: essayed; past participle: essayed; gerund or present participle: essaying e?sa/ 1. attempt or try. essay a smile Origin late 15th century (as a verb in the sense ‘test the. Definition , Essay , Gerund 608 Words | 4 Pages. bushes of the enumerate essay, meads, She goes on spilling her placid wealth, And with kind eagerness she constantly feeds, The river banks through which she slips, And . to harvard essay format, beautiful nature all she concedes, So whoever procures education wise Until the height of honor may rise. Enumerate The Elements Of Personal Essay! From her lips the essay, waters crystalline Gush forth without end, of the elements essay divine virtue, And prudent doctrines of her faith The forces weak of evil subdue, That break apart like the whitish waves That lash upon on professional the motionless shoreline: And. Andres Bonifacio , Human , Jose Rizal 999 Words | 5 Pages. Is Honor Killing a Muslim Phenomenon? In communities where there is a high occurrence of honor killings, there is a . powerful shared belief that honor is the primary value in life. Honor killing is enumerate the elements, defined as the murder of a family or community member by other members due to essay on professional identity, the belief that the the elements essay, victim brought shame upon the family or community. Sites! In these communities, people use the essay, concepts of honor and essay hvordan shame as a way to enumerate of personal, assess and essay hvordan maintain a certain level of conduct. Although honor killing. Black-and-white films , Greek and the elements Latin roots in English , Honor killing 1232 Words | 5 Pages.
? Roll of in a reflective Thunder Hear My Cry is a very powerful book, profoundly showing what life was like during the segregation system and how black people . had to tolerate being seen as insignificant beings. The segregation system took place in the 1900’s and it was where the blacks and whites lived differently to enumerate of personal, one another. White people thought themselves superior as opposed to the black people and engelsk essay lived slightly better lives. Throughout the book, the author thoroughly describes what life was like from a black. African American , Black people , Pardo 1102 Words | 3 Pages. HONOR KILLING This practice has thrived for centuries. There are many reasons that people are killed, some rationale being: Marital . infidelity, pre-marital sex, flirting, or even failing to essay, serve a meal on time. In certain cases, a wife may be killed without proper reason. Essay Identity! For example, a wife was killed by enumerate of personal essay, her husband because he dreamed that she betrayed him (Mayell 15). Essay On Professional Identity! Another example of the shameless brutality is of personal essay, when a women was killed in Turkey because someone dedicated a love song to her on.
Adultery , Crime of between IELTS &EAP passion , Extramarital sex 1125 Words | 3 Pages. Stone Medal Of Honor : Vernon McGairty’s Story Mr.Miller 1x Marissa Stone 5/29/2013 Many men are being honored today, as in back then, . for their extraordinary efforts to the elements, save the ones that mean most to them. These men will never be forgotten and our country’s way of showing our respect is by awarding them with the creative, Medal of Honor . The Medal of Honor is the United States highest military awarded for enumerate the elements of personal, personal acts beyond and above duty, which is lyrical and critical, awarded by the president of the enumerate of personal, United States. 99th Infantry Division , Battle , Battle of the Bulge 754 Words | 2 Pages. Semester 1, 2013 Assessment Task 2:Critical Essay IDEAS in MANAGEMENT Writing instructions and essay Marking Rubric This assessment task is . an ESSAY . The RMIT College of Business requires you to use a particular style of essay writing which involves both the way the essay is enumerate the elements of personal essay, structured and lyrical and critical the way that you acknowledge other people’s ideas used in your work. The structuring of an enumerate the elements essay essay is between &EAP, very clearly described in the RMIT Study and Learning Centre Essay Writing Skills Online Tutorial available. Article , Citation , Critical thinking 807 Words | 3 Pages. THE IMPORTANCE OF HONOR AND GLORY IN THE ILIAD Honor and glory are central to the Greek character. Since heroes are the . essence of the society from which they come, Greek heroes live their lives according to honor and glory, in all their varied forms. Honor and glory trigger an epic war that takes the lives of numerous men, and shape its development at every stage. Enumerate The Elements Of Personal Essay! The fall of Troy is a thing whose glory shall perish never (Homer, Iliad 2.324).
The goal of the Greeks is the fame that resounds. Achilles , Agamemnon , Hector 2162 Words | 6 Pages. ? Essay Instructions You will write 4 essays (double spaced, 12-point Times New Roman font). The first essay must . Essay Hvordan! be 1,000–1,200 words, and the following essays must be 750–1,000 words each. Essay one corresponds to the essay one prompt as listed below.
Essay two corresponds with the essay two prompt, etc. through all four essays . The Elements Of Personal! Each essay is a separate assignment. In completing each essay , research must be conducted through 2–4 peer-reviewed, scholarly sources in addition to the Bible and the. Bible , Religious text 990 Words | 3 Pages. ? Honor Killing An Justifiable Act Regardless of beliefs and customs, very few would deny that religion has played and continues to play . a vital role in how society functions. The many various religions of the world have laid down the in a essay you should, fundamental basis for moral, ethical, and enumerate of personal essay occasionally irrational behavior. The truly unique cultures and customs of the many world religions continue to perplex those looking from the in a, outside in. One of of personal these confounding customs is the phenomenon of honor killing. Adultery , Hindu , Hinduism 2127 Words | 9 Pages. Bankers Adda How to write Essay in SBI PO Exam? Dear readers, as you know that SBI PO 2014 Paper will also contain a Descriptive Test of . 50 marks (1 hour duration), which will consist of English Language Comprehension, Short Precis, Letter Writing Essay ). So, here we are presenting you How to write Essay ? and few points to harvard format, remember while writing an essay in the exam, which will be important for upcoming SBI PO exam. How to write an essay ? 1. The Elements Of Personal Essay! Analyze the prompt.
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Hills Away, Children of the Ash-Covered Loam and Other Stories, The Bamboo Dancers, Look Stranger, on enumerate essay this Island Now, Mindoro and Beyond: Twenty -One . Stories, The Bread of Salt and Other Stories, Work on engelsk essay hvordan the Mountain, The Novel of Justice: Selected Essays 1968-1994, A Grammar of enumerate the elements Dreams and IELTS &EAP Other Stories. Nick Joaquin, is regarded by many as the most distinguished Filipino writer in English writing so variedly and so well about so many aspects of the Filipino. Nick Joaquin has also enriched the. Emilio Aguinaldo , Fiction , Literature 1721 Words | 3 Pages. Argumentative Essay Social responsibility is an enumerate the elements of personal essay ideal topic for debate; there have been mixed results for companies and individuals who have . pursued social responsibility. There is essay, also the question of whether social responsibility should be motivated by a perceived benefit.This type of enumerate the elements essay essay is based on philosophical theories on the necessity of social responsibility backed up with facts about essays previous social responsibility efforts. For example, an enumerate the elements of personal essay essay could be about how giving support to disaster. Essay , Essays , Qualitative research 555 Words | 3 Pages. create flashcards for free at &EAP Cram.com Sign In | Sign Up StudyMode - Premium and Free Essays , Term Papers Book Notes Essays . Enumerate The Elements Of Personal Essay! Book Notes AP Notes Citation Generator More Code Napoleon and “Declaration of the Rights of Man” Comparison By wis2cool, april.
2013 | 5 Pages (1064 Words) | 1 Views | 4.5 12345 (1) | Report | This is a Premium essay for &EAP, upgraded members Sign Up to access full essay DID YOU LIKE THIS? TELL YOUR FRIENDS. Enumerate The Elements! Send Code Napoleon and “Declaration. Age of Enlightenment , Declaration of the Rights of Man and of the A comparison IELTS, Citizen , French Revolution 632 Words | 4 Pages. ELEMENTS OF AN ESSAY Preliminary Remarks Following are some suggestions to enumerate of personal essay, help you write an acceptable academic- level essay . In A Reflective Essay You Should! . This is not the only way to organize and develop an essay . It is, however, a tried and true system and will likely be what your TCC instructors require of you. Audience and enumerate the elements of personal essay Purpose Before beginning, you should consider both your audience and engelsk essay hvordan purpose.
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Did you fit into a subculture because you learned to speak its. Essay , Knowledge , Literacy 1120 Words | 4 Pages. ? Honor Killing Many immigrants move to western countries where the western culture is far different than Muslim culture. A situation where . some Middle Eastern women struggle with is known as “ Honor Killing.” Honor killing can be defined in enumerate of personal, many ways. Firstly, in honor killing, males of the family kill their own daughter, wife, sister, and even their mother if they bring dishonor to A comparison &EAP, their family. The victims are likely to get killed because they have brought dishonor in the family. Secondly.
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trying to enumerate of personal, know everyone in the class. After that here comes the big turn, homework and essay identity writing essays . I have never written an enumerate the elements . essay in my life while I was living in India. It was really hard for me to essay on professional identity, write down our thought on the elements of personal the given assignment. My English is not good and grammar is worse. Online Creative Writing Sites! I was really afraid of the elements of personal essay writing, I didn’t want to tell anyone. I missed my first essay due date and even second essay due date. After some days Mrs. Danielo called me in her office during office hours. Hvordan! She told. Academic term , College , Essay 1524 Words | 4 Pages.
Centre for Language Study Pre-Sessional Course A 2013 WRITING TASK 4: Assessed Essay WRITING TASK 4 is your assessed essay . and you will need to write an essay of 1200-1400 words. This is the same length as the the elements essay, essay in WRITING TASK 3. WRITING TASK 4 will form 80% of your mark for writing on the Pre-Sessional course. Online Writing! Please select a title from the list here: 1. Discuss the enumerate of personal, impact a particular theory has had on your area of &EAP study in terms of application, use and limitations. 2. Explain the the elements of personal essay, problems. Citation , Essay , Marketing 1150 Words | 4 Pages. achieve.” Being a part of the A comparison between IELTS &EAP, Honors Program will allow me to go above and beyond what I think I can accomplish and enumerate of personal achieve. IELTS! I take great . interest in the elements essay, this Program and lyrical and critical essays I believe that I can contribute many outstanding qualities that I possess as well as receive a lot from it. The Honors Program grabbed my attention because it’s for enumerate the elements essay, academically outstanding students and I am that student.
Throughout my years of high school, I have taken Advanced Placement and Honors classes and have done very well. Extracurricular activity , High school , John Carroll University 823 Words | 2 Pages. stories, news articles, and especially essays begin with good hooks because a writer is reflective, often judged within the of personal essay, first few sentences. Just as . the essay, news tries to stimulate our fears by announcing a “danger in our water supply,” a writer must try to the elements of personal essay, bring the online writing sites, reader from his or her world into the world of the essay . Of Personal Essay! This is online sites, done with a few choice words at the beginning of the essay : the the elements of personal essay, infamous hook. It is not easy to think of how to make someone want to essay on professional, read an essay about a novel. It’s not even easy to. Essay , Good and evil , Human 609 Words | 3 Pages. thesis is never a question. Readers of academic essays expect to the elements essay, have questions discussed, explored, or even answered.
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An Aircraft Lessor#8217;s Delivery Commitment: Some Drafting Fundamentals (Part 2) Picking up from the end of essay Part 1. 2. Don#8217;t Make Vague, Un-Qualified or Open-Ended Delivery Commitments. #8220;The Aircraft will be in in a reflective you should, good condition.#8221; #8220;All damage to the Aircraft will have been repaired.#8221; #8220;The Aircraft will be ready for immediate operation by Lessee in Lessee#8217;s normal operations.#8221; Let#8217;s talk about each of the above. #8220;The Aircraft will be in good condition.#8221; What is #8220;good condition#8221;? Does it mean #8220;satisfactory to Lessee#8221;? Does it allow the lessee require additional or more stringent delivery conditions at delivery? The goal for the lessor in the delivery conditions is agreeing a set of requirements that are achievable (don#8217;t overpromise) and, just as important, objective. If a lessee were to ask me to add this delivery condition, my response would be #8220;Let#8217;s agree a detailed set of delivery conditions that will make you comfortable that you are getting a satisfactory aircraft, but I can#8217;t promise you the aircraft will be in #8216;good condition#8217; because I don#8217;t know what that means or requires.#8221; #8220;All damage to the Aircraft will have been repaired.#8221; Really? All damage? Even the scratch on of personal essay the underside of the armrest in row 23? The requirement should be re-drafted as follows: #8221; All damage to the Aircraft outside of writing sites maintenance manual limits will have been repaired in accordance with the SRM or as approved by the Airframe Manufacturer.#8221; #8220;The Aircraft will be ready for immediate operation by Lessee in Lessee#8217;s normal operations.#8221; This one is scary. Does it mean that the lessor has to enumerate the elements, make the aircraft comply with all operational requirements of the lessee#8217;s regulatory authority (even though the lessor promised only an FAA- or EASA- compliant aircraft)? Does it mean that the lessor has to outfit the aircraft with lessee#8217;s standard safety and galley equipment?
Does it mean that other parts (avionics, wheels and brakes, etc.) need to be swapped to the lessee#8217;s standard to allow use #8220;in Lessee#8217;s normal operations#8221;? My response to this request would be the sites same as above: #8220;Let#8217;s agree a detailed set of delivery conditions that will make you comfortable that you are getting a satisfactory aircraft, but I can#8217;t promise you that you will be getting an aircraft that is ready for immediate operation in your #8216;normal#8217; operations because I don#8217;t know what that requires.#8221; It#8217;s rare that an aircraft, even a new aircraft delivered from the enumerate the elements of personal manufacturer, meets all of the agreed delivery conditions. In a transition between lessees it#8217;s almost certain that there will be delivery condition discrepancies. Different lessors address this issue in different ways, but the basic point is that the lease agreement should provide that the lessee cannot refuse acceptance of the aircraft when tendered by the lessor other than because of #8220;material#8221; delivery condition discrepancies. The definition of A comparison IELTS #8220;material#8221; is going to enumerate the elements essay, be a discussion item with the lessee and it should be addressed in the lease agreementand not left for hvordan, delivery. My standard approach is to say that the lessee may not refuse acceptance so long as the lessor has complied with its obligations regarding an export certificate of airworthiness (or certificate of airworthiness) and the aircraft is capable of being used by the lessee in its commercial operationsnote not #8220;normal commercial operations,#8221; just #8220;commercial operations.#8221; (The lease will also need a mechanism for the correction of the of personal essay discrepancies post-delivery, the preferred mechanism (from my POV) being that lessee rectifies the discrepancies after delivery with the lessor to reimburse the in a lessee for the lessee#8217;s out-of-pocket costs (or for an amount agreed in the acceptance certificate).) Often during these negotiations the lessee will point out that the lease agreement requires #8220;perfect tender#8221; at the elements essay redelivery, but not at delivery. Why is that? Well, my usual response is harvard font that #8220;the lessee has control of the aircraft during the lease term, is responsible for the elements of personal essay, arranging the return maintenance and part of its business is managing aircraft maintenance; on the other hand, the lessor is primarily a financier of aircraft and, in a transition, is relying on the previous lessee to perform its obligationsconsequently the lessor should not be held to the same perfect tender standard.#8221; While I think that this argument is a good one, I do have some sympathy for the lessee#8217;s point of view on this issueand have agreed from time to creative, time to apply a #8220;materiality#8221; standard at enumerate the elements of personal return, but only so long as the new lessee is willing to accept the aircraft with the return discrepancies without the lessor incurring any incremental costs.
4. Give the Lessor Adequate Time to Perform. As I discussed in Part 1 of this post, in creative writing, a transition of an aircraft between lessees so much of the work required to the elements essay, make the essay on professional transition successful is outside the control of the lessorand so the lessor should have an extended grace period during which the lessor can satisfy the enumerate the elements of personal delivery conditions. In addition, a short grace period for the lessor#8217;s delivery obligations may encourage the lessee to #8220;run out the clock#8221; by delaying inspections, delaying comments on the condition of the essay aircraft, providing serial (daily) comments, nitpicking the condition of the aircraft, etc. until the enumerate the elements of personal essay grace period has expired and the lessee is able to terminate (or renegotiate) its obligations. Keep in mind that a failed transition really is a disaster for a lessor because in most cases it will result in creative sites, the aircraft being on the ground (and not earning rent) for a significant period of enumerate essay timeand so an extended grace period is a necessity for a lessor. What#8217;s the right grace period for a delivery? From three to six months (possibly longer). From the lessor#8217;s perspective the on professional identity minimum amount of time will depend on a lot of factors, including the reputation of each of the returning lessee and the new lessee for competence and fair dealing and the type and amount of work to be performed at return and for the new lessee.
Any factors that add to the uncertainty should result in the elements, the lessor pushing harder for a longer grace period. Like with the perfect tender issue, the lessee will likely point out during these delivery grace period negotiations that the lessee has no (or a very short) grace period in format font, its obligation to return the aircraft in the required return condition at the end of the enumerate of personal scheduled lease term. Engelsk! The issues here are the same as the perfect tender issues discussed above, and the elements essay like the in a essay above I do have some sympathy for the lessee#8217;s #8220;mutuality#8221; argument so long as the delay in return does not adversely affect the next lessee#8217;s obligation to lease the aircraft. Enumerate! During the delivery delay negotiations the lessee will often ask for a per diem #8220;delay penalty#8221; paymentfor example, if the delivery if delayed for more than 30 days from the scheduled delivery date, then the and critical lessor will pay the lessee an agreed amount for each day of delay in excess of 30 days. If you get this request from a lessee, first, you should highlight to the lessee that a delay will likely have negative economic consequences for the lessor as well. Second, keep in mind that a delay in enumerate the elements of personal essay, delivery may be, at least in part, caused by the new lessee#8217;s delay in accepting the aircraftand the lessor#8217;s agreement to pay a delay penalty to the lessee may only encourage further delay. Third, also keep in mind that if the essay on professional returning lessee believes the delay in return is being caused by the lessor (e.g., because of additional return work requested by the lessor) or by the new lessee (e.g., by enumerate the elements the new lessee#8217;s unreasonable demands) then the returning lessee may, rightly or wrongly, stop paying rent before return, in which case the essay on professional identity loss of rent together with the the elements essay penalty to the new lessee will be a double financial blow to the lessor.
What do I suggest? If the in a reflective returning lessee is obligated to pay a penalty in connection with a delay in the return of the aircraft, offer to share that amount with the lessee if and when actually received from the returning lessee. Otherwise each party should bear its own costs of delay. And of course under no circumstance should the lessor be obligated to pay the lessee for the lessee#8217;s #8220;losses#8221; in connection with a delayed delivery. The lease agreement should in fact expressly provide that under no circumstances will the lessor be liable for any such losses. The foregoing should go without saying, but you should be careful about the enumerate interplay between the lessee#8217;s delivery condition condition precedent and online sites the language of the enumerate the elements of personal essay delivery proceduresfor example, I have recently seen in a signed lease agreement (paraphrasing) #8220;Lessor will not be liable for any losses of lessee incurred in connection with a delay in delivery (other than caused by a failure of IELTS &EAP Lessee#8217;s conditions precedent to be met).#8221; Since one of the lessee#8217;s conditions precedent was that the aircraft be in the required delivery condition, the lessor is this deal indirectly (and I#8217;m pretty sure unknowingly) agreed to pay for the lessee#8217;s losses in connection with any delay in delivery caused by the failure of the aircraft to meet the required delivery condition. To sum up, as lessor#8217;s counsel you should make sure the lease agreement#8217;s delivery procedures and conditions are drafted so that your client (1) knows exactly what is required, (2) has the capability to meet the requirements, (3) has sufficient time to meet the requirements and (4) is not penalized for delay. That#8217;s it for now. An Aircraft Lessor#8217;s Delivery Commitment: Some Drafting Fundamentals (Part 1) Delivering an aircraft to a lessee is difficult. Delivering an aircraft to a lessee in a transition from a returning lessee is really difficulteasily an aircraft lessor#8217;s most challenging task.
And a failed delivery is a disaster. When a delivery fails, the aircraft can sit for a prolonged period before a new lessee is found, signs a lease agreement, takes delivery and starts paying rent. In this post I will be discussing delivering an aircraft to a new lessee in a transition from a returning lessee, but most of the concepts I discuss apply equally well (with some tweaks) to a delivery of essay a new aircraft and a delivery of an engelsk, off-lease aircraft. Why are deliveries so difficult for enumerate essay, a lessor? Reason 1: The lessee is taking delivery of an aircraft it will use for at least a couple yearsmaybe much longer. On Professional! After delivery the lessee wants to enumerate of personal, avoid, for as long a period as possible, paying for essays, any unplanned maintenance or modifications or having any unplanned downtime. As a consequence, the lessee is going to be aggressive in its pre-delivery inspections and claimed delivery condition discrepancies.
Reason 2: So much of the elements a transition delivery is outside of the lessor#8217;s direct control. For putting the A comparison between aircraft in the required delivery condition the lessor will need to rely on not only the of personal essay returning lessee, but also possibly on, inert alios, parts suppliers, an reflective essay you should, engineering firm, the airframe manufacturer and/or an MRO. If the amount of predelivery work is large (for example, a heavy check being performed by the returning lessee or substantial interior modifications for the new lessee) the possibility for return-delivery delay is substantialeven with the best efforts from a top notch lessor technical team. Reason 3: In the delivery of an the elements of personal essay, aircraft to a lessee timing is very important. In a transition between lessees, the returning lessee wants the lessor to take redelivery as scheduled so that the returning lessee can stop paying rent and go #8220;off risk#8221; for the aircraft; and the lessor wants the new lessee to simultaneously take delivery so that the new lessee starts paying rent and goes #8220;on risk#8221; for the aircraft. Unfortunately, the new lessee may not (for whatever reason) be willing to take delivery as scheduled and if so the lessor needs to manage both the returning lessee and the new lessee to avoid a gap in rent and essays risk allocation (as well as a gap in registration and insurance coverage). Enumerate The Elements Essay! With the above in mind, following is harvard essay a discussion of enumerate the elements of personal essay some #8220;fundamentals#8221; the lessor#8217;s counsel should keep in mind when drafting the A comparison IELTS &EAP delivery conditions and procedures in a lease agreement. Each of the fundamentals relates to one or more of the of personal essay three Reasons discussed above. First, each and every delivery commitment by the lessor (e.g., the aircraft will be painted in the new lessee#8217;s livery) should have either a corresponding return commitment from the returning lessee or a clear indication from the lessor#8217;s tech team that the harvard delivery commitment is enumerate essay otherwise achievable. When I draft or review delivery conditions I usually prepare a matrix (#8220;matrix#8221; is my fancy word for a Microsoft Word table) with three columns and with a row for each delivery condition. The three columns are (1) Promised Delivery Condition (to the next lessee), (2) Contracted Return Condition (from the format returning lessee) and (3) Mismatch.
In the Mismatch column each row should ideally say #8220;None#8221;; if not, there should be an explanation of why the mismatch is of personal ok or how the mismatch is going to be addressed. And don#8217;t be too creative with your draftingwhere your goal is to essay identity, simply match a return requirement, then (unless you have a very good reason) the enumerate the elements of personal essay wording of the delivery requirement should be a cut-and-paste from the return section of the returning lessee#8217;s lease agreement. If there is a disagreement with the new lessee about whether a delivery requirement has been met, you want to make sure you have recourse to the returning lessee on essay its return requirement. Don#8217;t allow the lessor to get whipsawed between two different wordings that you thought said the same thing. Speaking of being whipsawed, when matching the returning lessee#8217;s return conditions in the delivery conditions be careful when referring to maintenance intervals and hours/cycle/months remaining (and similar concepts).
In all cases such references should be expressly tied to the returning lessee#8217;s maintenance schedule/program. The Elements Of Personal Essay! I learned that lesson the format hard way. If you see a return condition from a returning lessee and have reason to doubt whether it will be performed, then don#8217;t automatically match it in the delivery conditions to the new lessee. For example, if you see a return condition that says #8220;No part will be older than the enumerate of personal Airframe in hours, cycles or calendar time,#8221; before you match that return condition in the delivery conditions check with a lessor tech officer to engelsk hvordan, see whether he or she thinks the returning lessee will actually satisfy that return requirement. If not (which would be my guess), then you should give yourself some wiggle roome.g., #8220;no more than 150% of the age of the airframe#8221;or maybe not have a part-age delivery condition at all. Another good example is #8220;All Aircraft records will be in enumerate the elements of personal, English.#8221; For some returning lessees that return condition is on professional identity not going to be metregardless of the of personal what the lease agreement return conditions say. Reflective You Should! It may be better to say #8220;All Aircraft records required to be in of personal, English by [EASA/the FAA] will be in essay identity, English.#8221; The delivery condition matrix mentioned above is the elements helpful for working through these #8220;in practice#8221; mismatches with the online writing lessor tech team; you can go through each row with a tech officer and discuss whether the returning lessee will meet the return requirement. (c) Pre-delivery Modifications. Most lessees of used aircraft will want, before or immediately after delivery, some modifications to the aircraftbecause of the enumerate the elements of personal essay lessee#8217;s regulatory requirements, for the aircraft to conform to the lessee#8217;s other aircraft or for some other reason.
There are three options for performing these modifications: A. The new lessee can perform the modifications itself after taking delivery, usually with the lessor providing a rent holiday for an agreed number of days. Engelsk Essay Hvordan! B. The returning lessee can perform them during the return maintenance. C. The lessor can take redelivery of the aircraft, perform the modifications and then deliver the aircraft to the new lessee. From the lessor#8217;s point of view, the first option is enumerate of personal essay almost always the best. The new lessee takes responsibility for ordering the parts, arranging any engineering, scheduling the lyrical and critical labor and arranging any regulatory approval in connection with the modifications. Plus the new lessee takes any risk of delay in connection with the modifications, with the lessor#8217;s loss of rent capped at the agreed rent holiday period.
As between options B and enumerate the elements of personal C, the lessor#8217;s preference is going to depend on essay hvordan the factsthe identity of the returning lessee, the enumerate of personal returning lessee#8217;s ability and willingness to accommodate the request, whether the essay you should modifications can be performed during the the elements of personal essay scheduled return maintenance (or will the aircraft downtime need to be extended), the essay added complexity of the lessor taking redelivery and having to register and insure the aircraft during the modification and deal with the regulatory approvals for the mods. In both options B and C, the enumerate the elements of personal lessor will likely be required to order parts and arrange engineering. Option B is generally my least favorite option. In this option, the lessor has taken redelivery from the returning lessee and so no longer has any recourse to the returning lessee when the new lessee finds a problem with the essay on professional aircraft that violates the delivery conditionseven a perfectly crafted delivery-return matrix is worthless once the essay lessor takes return of the aircraft. Sites! Plus during the modifications the the elements of personal lessor has all the risks associated with the possession of the aircraftrisk or damage and identity risk of enumerate mechanical failure (both of which are real risks even for a grounded aircraft). Lyrical And Critical! And during the enumerate modifications the A comparison &EAP lessor will need to register and insure the aircraft and, depending on the facts, the lessor may need to arrange for issuance of a new export CofA before delivery to the new lessee.
Regarding option C, it will be tempting to avoid option B by asking the returning lessee to perform the modifications, and in fact some lease agreements have a boilerplate provision dealing with lessor-requested maintenance and modifications at return. Of Personal Essay! But please be careful. The returning lessee will almost certainly condition its performance of any modifications on such modifications not resulting in a delay in redelivery, and the returning lessee will want an agreement from the lessor that if such modifications do result in a delay then the returning lessee will not be required to pay rent during such delay. That is harvard a fair request from the returning lessee, but I can tell you from personal experience that the of personal returning lessee will try to tie *any* delay in the redelivery to the performance of the modifications. For example, #8220;we couldn#8217;t finish the hvordan required return check because of the on-going interior reconfiguration that you requested, and then when the reconfiguration was finally done we didn#8217;t have sufficient manpower to enumerate of personal, finish the check and so redelivery will be delayed for at least two weeks and on professional identity we won#8217;t be paying rentoh, and enumerate the interior configuration means that we cannot get an export CofA without having the new configuration approved by our aviation authority and that approval will take several weeks (during which we won#8217;t be paying rent)unless of course you#8217;re willing to waive the requirement for an export CofA.#8221; Sometimes having the returning lessee do the work is the best option (it may be the only option), but the essay identity lessor#8217;s tech team needs to be heavily involved in the returning lessee#8217;s return planning and executionit#8217;s not just a matter of the lawyers getting the drafting right. And, of course, don#8217;t commit option C to the new lessee until you have a written agreement with the returning lessee in which the returning lessee agrees to perform the the elements essay modifications. Finally, you#8217;ve probably noticed that I haven#8217;t mentioned which party bears the cost of these modifications. Clearly the returning lessee will not bear any costs.
As between the lessor and lyrical lessee, the burden of these costs is a matter for commercial negotiation, but note that option A is the only effective way for a lessor to cap its costs. Enumerate The Elements! Option A is also the best way to online creative writing, avoid over-promising on modifications. Wow, this post is the elements essay already over 1,700 words and I#8217;ve only made it through one fundamental. To be continued in Part 2. Initial Reserve Credits When Leasing a Used Aircraft: Some Thoughts. In my posts this year I have been writing a lot about maintenance reserves. Lyrical Essays! This focus is the elements of personal not misplaced. The maintenance reserve section is reflective essay one of four aircraft lease sections where the lawyers on the elements a deal can make a commercial differenceeither positively or negatively. The other lease sections are the maintenance sections, the delivery conditions and the return conditions. Harvard Essay Format Font! My work for the last year has been focused on enumerate of personal reviewing lease agreements in connection with the purchase of leased aircraftand an unsurprising pattern has emerged in these reviews. I will have substantive comments throughout the lease documentation (default/remedy section, insurance section, general indemnity section, etc.), but when I finish the review and prepare a summary highlighting the most serious problems with the lease documentation, the list is heavily weighted with maintenance reserve and return condition issuesmainly because these are the issues that will have a material and inevitable financial impact on the lessor.
If there is a mistake in the general indemnity, insurance or the harvard font default/remedies section, it#8217;s highly unlikely such mistake will ever have any impact on the lessor. As a consequence, when my client discusses my comments with me and then with the seller of the aircraft, my client#8217;s focus is on these maintenance reserve and return condition issues. Enumerate The Elements Of Personal Essay! And if a purchase falls apart during the due diligence stage, it#8217;s very likely going to be because of either an unsatisfactory aircraft inspection or deficiencies in the maintenance reserve and return condition sections of the lease documentation. The deal is lyrical essays not going to fail because, for example, the scope of the general indemnity isn#8217;t broad enough. With the above in mind, here are some thoughts on the maintenance reserve provision dealing with initial credits for reimbursable maintenance (aka #8220;lessor contributions#8221;). 1. Start Date. When a lessor is offering to lease a used aircraft to enumerate the elements, a lessee the lessor will generally offer to font, provide the lessee with credits that the lessee may use in connection with the first reserve reimbursable maintenance visit (major airframe check, engine performance restoration, etc.) during the lease term. The credits are generally calculated from the enumerate of personal essay time of the last relevant maintenance event before delivery. One of the IELTS &EAP things that I look for the elements of personal, when reviewing this lease provision is whether the lease documentation is essays clear about the start date for the calculation of the credit.
For the airframe and the elements of personal essay the landing gear, where the sites checks/overhauls are generally calendar driven and of personal the workscope well-defined, the start date should be obvious from the aircraft#8217;s maintenance records. Similarly, for the engine LLPs, assuming the aircraft records and lease documentation accurately reflect cycles since new and have back-to-birth (including thrust usage) traceability, the on professional identity start date and the credit calculation should be just a matter of math. Of Personal! But for harvard, the engines and enumerate the elements essay APU, the timing of performance restorations is driven by operating condition and not by calendar time, hours or cycles, and the workscope for an engine restoration can be heavy or light. Sites! Consequently it is very common for a lessor and lessee to disagree about the start date for the elements of personal, the initial credit on IELTS the engines and APUthat is, disagree on the amount of the enumerate the elements essay initial credit. A disagreement on the engine performance restoration start date can easily be a several hundred thousand dollar issue. The best practice here is to agree either the start date or the reflective essay you should amount of the initial credit during the lease negotiation.
If the start date is not clear from the lease documentation, then I will recommend to the buyer of the aircraft to agree the start date in the lease novation documentation. Essay! 2. The Method of Calculation. Between IELTS &EAP! Once the start date is agreed there are a couple ways to calculate the initial creditthe pro rata method and the rate-times-hours/cycles/months method. Under the latter method, the calculation of the initial credit is the enumerate essay simply the applicable base year (unescalated) maintenance reserve rate multiplied by the number of engelsk hvordan hours, cycles or months (as applicable) since the last relevant maintenance event. Using the pro rata method the amount of the credit cannot be determined until the relevant maintenance event during the lease term.
At that time the full reimbursable cost for of personal essay, the visit is allocated pro on professional rata between the usage before the delivery date and the usage after the delivery date, with the lessor obligation to provide a credit for the usage before the delivery date. For example, if an engine performance restoration costs $4M, the #8220;start date#8221; was two years before the delivery date and the performance restoration was started two years after the essay delivery date, then the initial credit would be $2M. Lessors generally don#8217;t like the pro rata approach because (1) it shifts the risk early maintenance (especially respect to engines) on to the lessor (because the denominator in the pro and critical essays rata calculation is enumerate smaller for early maintenance) and (2) it shifts part of the risk of the final cost of the essay identity maintenance on to the lessor (because the lessor#8217;s credit is not capped at the per hour/cycle/month rate, but instead is calculated using the the elements of personal essay actual reimbursable cost of the maintenance event). The use of the pro rata method for essay hvordan, engine performance restorations is enumerate of personal essay especially risky for lessorsbecause an engine can come off wing early for condition reasons and because the cost of performance restorations is essay notoriously difficult to predict/control. To take an extreme example, if an engine is driven off wing for a performance restoration on the first day of the lease term, the pro rata approach would result in the lessor bearing 100% of the cost of the performance restoration.
As I have discussed in previous posts, a central tenet of aircraft leasing is that the lessor does not take operational/maintenance risk. The pro rata approach, for essay, the reasons outlined above, shifts operational/maintenance risk onto the lessorand so should be avoided. 3. Engine LLPs. The credit given for essay, engine LLPs should be provided on a part-by-part basis, not as a pool that can be drawn for any one part. Like the pro rata approach discussed above, allowing the lessee to draw on enumerate of personal a pool of credits for the replacement of any one part shifts the risk of early removal to the lessor. Also, the credit should be calculated based on cycles used since newnot since installation and not since (as I have seen) last engine performance restoration. 4. Other Considerations. The start date and the method of calculation are the two big commercials issues in connection with the initial credit. Here are some further less controversial recommendations: (a) The initial credit provisions should apply only to the first reimbursable maintenance event during the lease term. (b) The initial credit should apply only to reimbursable maintenance events and only to the extent the maintenance event is reimbursable. (c) The obligation to pay the credit should be conditioned on and critical essays the same conditions as the reimbursement of enumerate of personal reserves (e.g., no continuing lessee default). (d) The initial credit should be payable only to the extent the reserves are insufficient to cover the reimbursable cost of the maintenance event and then only to the extent of the reimbursable cost of the maintenance event. (e) The base house/cycle/month rate for the initial credit should not escalate or adjust in any way. I know some you will be saying #8220;no duh, dude#8221; to (a) through (e) above, but it#8217;s common for a lease to be silent on in a you should one or more of these issues.
5. Novation. Essay! As discussed in online sites, a previous post, when acquiring a lease by novation or assignment, the novation/assignment agreement should have a provision in which the lessee confirms which credits have already been satisfied and, unless the lease documentation uses the pro rata method, the enumerate the elements amount of the remaining credits. Engelsk Essay Hvordan! Engine Thrust at Delivery and Return. Here#8217;s a common fact pattern in the elements of personal, connection with the sale and leaseback of a used aircraft: An airline and a lessor will agree that the lessor will purchase one or more of the airline#8217;s aircraft and and critical then lease those aircraft back to the lessee for enumerate essay, an agreed term and at an agreed rent. The lessor#8217;s obligation to purchase the aircraft will usually be subject to harvard essay, a pre-purchase inspection of the aircraft and to the aircraft being in the same condition (as at the elements of personal inspection) on the purchase date. Harvard! Rarely will there be a full description of the aircraft in the purchase agreement; instead the enumerate of personal lessor will rely on engelsk its inspection of the aircraft and on detailed return conditions in the leaseback documentation. I have discussed the the elements of personal essay general issue of aircraft descriptions in purchase agreements in this earlier post. As most of you know most (all?) aircraft jet engines may be operated at different thrusts. Changing the thrust on an engine may require physical/software modifications to essay, the engine (e.g., a derate plug), but a change will also require paperwork from the engine manufacturer; and the paperwork from the manufacturer for an increase in thrust will generally require a large payment to the engine manufacturer (sometimes hundreds of thousands of enumerate of personal dollars per engine). Instead of purchasing additional thrust, airlines may #8220;lease#8221; the thrust for an agreed period of time.
Most of you probably see where I#8217;m going here. If the lessor in a sale/leaseback transaction sends its inspector to look at, say, a 737-800 and the inspector reports back that the installed engines are CFM56-7B26 engines (per the engelsk hvordan dataplate on each engine), the lessor knows that that the installed engines are certified to operate at 26,300 lbs. Enumerate The Elements! thrust (signified by the #8220;26#8221; in the #8220;7B26#8221;). But the first question from the lessor#8217;s tech and legal officers should be #8220;is that thrust rating owned and transferable by the airline or is it leased by writing sites the airline (and the engines will revert to a lower thrust rating at some point)?#8221; If the enumerate lessor fails to ask that question, it may be surprised to find at return of the A comparison between IELTS aircraft at lease end that the engines are returned as CFM56-7B24 engines (that is, with 24,000 lbs. thrust). At this point the tech and enumerate of personal essay legal officers for essay format font, the lessor will be scrambling to find something in the purchase or lease documents that would allow the lessor to insist on return of CFM56-7B26 engines. For example, the essay lessor may say #8220;look, the you should description of the engine in the purchase agreement says #8216;CFM56-7B26,'#8221; to essay, which the airline will respond #8220;that#8217;s because they were CFM56-7B26 engines at delivery.#8221; Then the lessor will say #8220;look, the lease return conditions require the aircraft to be returned in the same configuration and with the same capabilities as delivery,#8221; to and critical, which the lessee will say #8220;#8216;configuration#8217; refers to the seating configuration and the elements of personal essay the aircraft is airworthy and so does have the same capabilities.#8221; Acrimony ensues. The lessons here are: The purchase agreement should be clear that the current thrust is owned and transferable by the airline.
In addition, the lessor#8217;s tech officers should confirm such with the engine manufacturer directly. The lease agreement return conditions should be clear that at return the engines will have the expected thrust rating. The above also applies to new aircraft in in a reflective, sale/leaseback transactions. For example, an enumerate essay, airline may have a deal with the engine manufacturer such that the installed engines will be delivered from the airframe manufacturer at a higher thrust but such thrust will apply only for so long as the airline operates the lyrical essays aircraft, after which a lower thrust rating would apply. As always, be careful out there.
Replacement of Parts and Part Pooling. In a perfect world for enumerate essay, an aircraft lessor the following rules would apply to each part on a leased aircraft: Rule 1. No part should be removed from the aircraft except as required for maintenance of the aircraft and/or the engelsk part. Rule 2. While removed the part should be safely stored and/or repaired/refurbished. Rule 3. No part on the aircraft should be replaced other than because of damage, failure, loss or expiry of enumerate essay that part. Essay Hvordan! Rule 4. If a part is to be replaced because of damage, failure, loss or expiry, the part should be promptly replaced with a part of the same manufacturer and model (or a more advanced and compatible model), and upon installation title to the replacement part should vest in lessor free and clear of any liens. I can hear a number of you saying #8220;uh huh, yeah, that#8217;s right, what#8217;s your point?#8221; My point is essay that very few aircraft lease agreements actually contain the first three rules. Reflective Essay You Should! Don#8217;t believe me?
Pick up any random lease and check. Right now I am picking up a lease at random (I really am) and the elements essay I see the following standard Replacement of Parts clause: LESSEE, at its own cost and expense, will promptly replace all Parts which may from A comparison IELTS time to time become worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or rendered unfit or beyond economical repair for use for any reason. In the enumerate ordinary course of maintenance, service, repair, Overhaul or testing, LESSEE may remove any Part provided that LESSEE replaces such Part as promptly as practicable. The wording in this lease agreement goes on to specify the requirements for the replacement part (Rule 4 above) and to lyrical essays, address title transfer issues (also Rule 4 above) and the required timing for replacement (again, Rule 4 above).
But what about the first three rules? They are not contained in enumerate the elements of personal, the above quoted language (read it again). Note especially that in essay on professional, the second sentence it does not say #8220; Only in ordinary course of maintenance . . . #8221; or #8220;maintenance, service, repair, Overhaul or testing of the of personal Aircraft .#8221; You may be able to find the first three rules partly covered in other parts of the lyrical essays lease agreement. For example, the lease agreement Possession section may have a provision prohibiting delivering possession of any part to a third party (though the prohibition in that section is often limited to the aircraft and engines). The Maintenance section will likely have a clause on repair. The Elements Of Personal Essay! But I bet you didn#8217;t find the first three rules in the Replacement of Parts section.
So, what are the in a you should consequences of a lease agreement not containing the first three rules. Well, the most material and (highly) likely consequence is the elements of personal essay that parts will be removed from the lessor#8217;s aircraft for writing, use on other aircraft in enumerate the elements, the lessee#8217;s fleet, with the only requirement usually being that the removed part be replaced with a compliant part #8220;as soon as practical but in any case prior to essays, the last day of the Lease Term#8221;and that the lessor will not be able to prohibit the use of its parts on other aircraft. Another possible consequence, theoretically at least, is that good parts can also be swapped out for inferior partsthough most leases have a requirement that the replacement part have a value and utility at least equal to of personal essay, the replaced part. Let me jump to another issue here and then I#8217;ll come back the issues raised above. Often during lease negotiations the lessee will say #8220;we need the right to do part pooling,#8221; and when I#8217;m reviewing leases I sometimes run across a #8220;Part Pooling#8221; section in which the lessor gives the lessee broad rights to pool #8220;Parts#8221; from the aircraft with other airlines pursuant to an inter-airline pooling arrangement. When I see such a part pooling section I wonder how can the harvard font lessee engage in inter-airline part pooling and still comply with its separate obligation to replace removed parts #8220;as soon as practical,#8221; vesting title to the elements of personal essay, the replacement part in the lessor. The two provisions are in conflict. When pooling comes up in my lease negotiations, my first response is to essay identity, ask the lessee#8217;s representative what he/she means by #8220;parts pooling.#8221; Invariably the response is something like #8220;if we need a part from the elements essay your aircraft to keep another aircraft in our fleet in operation then we will want the right to remove the part from your aircraft.#8221; Anyone who has been in the aircraft leasing business for more than a few deals knows that this sort of part sharing among aircraft is common. Lessors don#8217;t like it, but it#8217;s going to happen and it#8217;s unlikely the lessor will ever find out. And Critical! I don#8217;t think I have ever heard the following response from a lessee: #8220;we want the ability to the elements, share your aircraft#8217;s parts with other airlines as part of an inter-airline pooling arrangement without any obligation on our part to replace them before return of the aircraft to you.#8221; I can see a very creditworthy airline taking that position, but unfortunately (for me) those are the kind of airlines I don#8217;t usually deal with. My experience is that a request to #8220;pool parts#8221; is a pretty narrow request to use parts from a lessor#8217;s aircraft in essay on professional, an #8220;emergency.#8221; And if that is the case and the lessor is essay willing accommodate the lessee on A comparison between IELTS this request, then the the elements essay #8220;part pooling#8221; provision should be narrowly drafted.
I sometimes wonder whether the loose drafting around the removal and essay replacement of parts (as discussed above) is the result of enumerate lessees trying to leave open the possibility of removing parts from the leased aircraft for use on other aircraft in its fleet. If so, I guess that is OK, but as a lessor#8217;s counsel I would strongly prefer that the A comparison four rules above are clearly stated and that any exception for enumerate the elements of personal, #8220;emergency#8221; use of lyrical essays parts on other aircraft is clearly and narrowly drafted. Miscellaneous Thoughts on the Miscellaneous Section. When I was a young associate at a law firm and just starting to learn how to draft documents, I worked for a partner who had a unique approach to reviewing my work. After I handed him my draft (this was post-computer (barely) but way before email) he would weigh my draft in his open palm and invariably say #8220;feels light.#8221; When he handed back his handwritten markup, his comments were almost always spot on, but I noticed that the most marked up section of every draft was the Miscellaneous section. Enumerate! I wasn#8217;t the only associate to observe this pattern and it became of the subject of some humor: #8220;your draft is essay hvordan malpractice per se, except for the Miscellaneous section, which is brilliant.#8221; And, to this day, when I get to the Miscellaneous section of a draft (whether I#8217;m drafting or reviewing) I force myself to slow down and essay apply some of the things I learned, like the following: 1. Redundancy. Probably more so than any other section of a contract, lawyers draft the Miscellaneous section by a cut and paste from another contract, sometimes cutting and pasting from multiple contracts. And of engelsk essay course this leads to a Miscellaneous section that has both a #8220;Severability#8221; clause and an #8220;Invalidity #8221; clause, both of which of course say exactly the same thing. Another common redundancy: a #8220;No Amendments#8221; section and enumerate a #8220;Variation#8221; section.
Simple lesson here: the lawyer needs to read the operative provision, not just the heading. In fact most Miscellaneous sections have a section that says just thatit#8217;s called #8220;Headings#8221; and it#8217;s often redundant with a clause in the Interpretation section of the same contract that says the and critical essays same thing. 2. Lack of consistency. There are a few sub-issues here: (a) The most common mistake resulting from enumerate #8220;cut and paste drafting#8221; is a mismatch between parties and defined terms with the rest of the document. But there are also often substantive mismatchese.g., Miscellaneous provisions addressing payment matters (e.g., default rate or payment date convention) that are already covered elsewhere in the contract). Another simple lesson here: just be careful and review the Miscellaneous section with the same care as the rest of the harvard essay font document. (b) Most large commercial transactions involve multiple documentse.g., a loan agreement and associated security agreement. Each of the documents in essay, a transaction should have matching Miscellaneous sections. Better yet, the main document should have a Miscellaneous section that expressly applies to all #8220;Related Documents#8221; or #8220;Operative Documents#8221; or whatever term you like for online creative writing sites, the transaction documents; this approach not only ensures consistency but cuts down on the length of the ancillary documents (and I#8217;m amazed how few people do this). Rule of thumb: If in a document (or set of documents) you say the same thing twice but in different ways you should assume the the elements of personal other side is going to find some way to use that against you. If you must say something twice, use the same words. (c) For most commercial attorneys there is essay really no excuse for not having your own boilerplate Miscellaneous section stored in enumerate, a Word document. If you#8217;re the drafter, it’s a simple cut and paste from the in a essay boilerplate; if you#8217;re the reviewer the boilerplate serves as a handy checklist and source for drafting comments.
Just make sure that in your boilerplate you bracket/highlight the names of parties and of personal essay defined terms so that these can be quickly updated after a paste. 3. Lack of Proportionality. The number of provisions and online creative sites the detail in the drafting of the Miscellaneous section should be proportional to the complexity and essay importance of the contract. If you#8217;re drafting a one section letter agreement with a short performance period, you don#8217;t need three pages of Miscellaneous provisions. And Critical! In these cases I suggest a one-sentence Miscellaneous section covering governing law, counterparts and no amendments (and maybe jurisdiction and enumerate the elements essay maybe entire agreement) in a shorthand way. For more complex agreements, a full Miscellaneous section is advisable. What is a full Miscellaneous section? Below is my list. Note that I have not included governing law/jurisdiction/process agent/etc. because these provisions should be included in a standalone and clearly named section. Also I don#8217;t include general payment provisions (e.g., application of and critical essays payments) or default remedies (e.g., set-off right) because these are generally covered elsewhere in of personal essay, an agreement.
The Miscellaneous section should be limited to provisions that don#8217;t fit neatly in lyrical and critical essays, other sections of the contract. No Implied Waivers. No Amendments Except in Writing. [Chattel Paperwhere relevant] [No Partnership/No Agentwhere relevant] Headings [if not contained in the #8220;Construction#8221; section] Time of Essence. [Lessor] Determinations Binding Absent Manifest Error. Third Party Rights. Delegation by [Lessor] (to [Servicer]) Periodic Estoppel Certificate Required. I hope the above is of personal helpful. Essay! I know you are not going to wow a client with your drafting of the Miscellaneous sectionin fact it#8217;s probably in your best interest never to mention the Miscellaneous section to a clientbut you can take pride in a job well done. And I know one law firm partner who would appreciate your effort. Maintenance Reserves for LLPs: Some Random Thoughts. I have been reviewing a lot of leases recently, and among the various lessors and forms of leases I am seeing that there is almost always a drafting or conceptual issue with the of personal engine LLP reserve provisions.
This post will discuss a few of those issues. Some of the issues below are also touched upon in in a you should, less detail in a previous post. Several years ago a very sharp lessor tech officer pointed out that the enumerate lease agreement we were negotiating should have an adjustment to the LLP reserve reimbursement amount where the replacement LLP (for which reimbursement is being sought) is a used LLP. The use of used LLPs by airlines and MROs is A comparison between &EAP not uncommon, and the tech officer#8217;s view was that the lessee should not be able to draw, without limit , from reserves or any lessor contributions (for utilization prior to the delivery date) for the cost of a used LLP. For example, why should a lessee be allowed to draw reserves, without limit , for the cost of a used LLP where the replacement LLP has less cycles remaining than the replaced LLP had at removal (e.g., in a replacement required because of FOD or failure)? Similarly, why should a lessee be allowed to draw lessor contributions, without limit , for enumerate of personal essay, the cost of a used LLP where the lyrical essays replacement LLP has less cycles remaining than the enumerate replaced LLP had on format the delivery date ? Underlying these questions is the (correct and accepted) premise that a lessor should at of personal all times have LLP reserves for an LLP that reflect the utilization of that LLP since new. The tech officer and I came up with some unfortunately complicated drafting adjusting the font LLP reserve reimbursement amount in the above scenarios.
I say #8220;unfortunately#8221; because I value simplicity in enumerate the elements of personal essay, draftingeasier to A comparison IELTS &EAP, negotiate, easier to the elements, administer, easier to enforce. Since developing this adjustment drafting I have spent a lot of time explaining why it is necessary and how it works. In the numerous leases I have reviewed recently not one has made a distinction between used LLPs and new LLPs in the reserve reimbursement section, and I so started to wonder whether maybe I was missing something. Why didn#8217;t these other lessors care about the used LLP issue? In re-thinking through the issues I asked another very sharp tech officer how used LLPs are priced.
He told me that used LLPs are generally priced pro rata (straight line) to the price of a new partso an LLP with 75% life remaining would cost 75% of the catalog price of such part. If we assume that used LLPs are always priced on a straight-line pro rata basis and if the working assumption for essay, drafting is that the reserve balance and any lessor contribution amount for any LLP reflects all prior utilization for such LLP at catalog price, then the use of used parts should not be an issue. In other words, any LLP reserve reimbursement should deplete the reserves and of personal lessor contribution only to online writing sites, the extent of life remaining on the replacement part. For example, if a part with 10% life remaining (and for which lessor holds reserves and lessor contributions equal to 90% of the cost of such part) is replaced by a part with 75% remaining (with a cost of 75% of catalog price), then after lessor#8217;s reimbursement (65% of catalog price after netting any waste expense on the replaced partsee more on waste expense below) the lessor should have the benefit of an LLP with 75% life remaining and 25% in reserves/lessor contributions. Let#8217;s try a more detailed example. An aircraft is delivered used to the lessee.
One of the the elements LLPs on one of the engines has 60% life remaining at essay on professional delivery to lessee and the lessor has provided to lessee a lessor contribution equal to 40% of the catalog price for such part. Lessee pays reserves on such LLP during the term and at enumerate the elements essay the time of removal of such LLP for replacement, 20% life remains on such part; in other words, lessee has paid 40% of catalog price in reserves. The replacement LLP has 30% life remaining (30% less life remaining than at delivery) and 10% less than the lessor contribution. Lessor#8217;s reimbursement would be 10% of engelsk hvordan catalog price after netting any waste expense on the replaced part) and the lessor should have the benefit of an LLP with 30% life remaining and 70% in reserves/lessor contributions. The key to enumerate essay, making these examples work is the assumption that the used LLP is essay priced on of personal essay a straight line basis. And so the conclusion I am drawing from the above thinking is online creative writing that I can scrap the complicated drafting language I have been using and replace it with something along the lines of the following: #8220;If the replacement LLP is used then Lessor#8217;s reimbursement obligation will be equal to the lesser of (1) the actual cost of such LLP and (2) the product of (a) the catalog price of such part divided by enumerate its cycle life and (b) the number of cycles remaining on lyrical such part, in either case, less waste expense.#8221; Reimbursement on a Part-by-Part Basis vs. from the LLP Reserve Pool. I have discussed this issue in another post and so won#8217;t repeat myself here.
In the leases I have reviewed recently I have seen both approaches taken and also saw a hybrid where the pool approach was used for the LLP reserves and a part-by-part approach was used for enumerate the elements essay, the LLP lessor contribution (I didn#8217;t understand the reason behind that split). Between IELTS &EAP! My view is that the part-by-part approach is the logical and correct approach because the pool approach shifts operational risk on the LLPs to the elements of personal essay, the lessor. For a discussion of this issue see this previous post. Salvage Value, Waste Expense and Stub Life. LLPS are very rarely removed with no life remaining. Engine shop visits are time-consuming and expensive, and so an operator will always have a timing strategy for LLP replacement. For example, if an engine is going into the shop for between IELTS &EAP, a performance restoration and after the performance restoration the engine will be expected to run without another shop visit for 7,000 cycles, then the operator will generally replace all LLPs on the engine with life remaining of of personal essay less than 7,000 cycles.
The lease agreement for an aircraft will also usually have an reflective essay you should, LLP #8220;build standard#8221; for a performance restoration and separately an LLP cycle-remaining return condition, both of which requirements will affect the timing of LLP replacement during a lease term. The question for the lessor is how to essay, account for the #8220;early removal#8221; of LLPs when collecting and reimbursing reserves. Some lessors will build the lost cycle life into the reserve rate using a #8220;stub life#8221; assumptionwith the effect that the per cycle reserve rate for an LLP is higher than the per cycle catalog price for such LLP. Some lessors will net from the essay format reserve reimbursement an amount based on the cycle-life remaining on the removed part. Some lessors will net from the enumerate reserve reimbursement the market salvage value (if any) of the removed part, usually in connection with using the stub life approach. I think the most direct, transparent and harvard essay easiest-to-explain approach is to the elements, base the reserve rate on catalog prices (without adjustment) and then deduct from the reimbursement an amount equal to the product of (1) the per cycle then catalog price of the replaced LLP and online creative writing (2) the number of cycles remaining on the replaced LLP.
This approach removes the enumerate the elements essay guesswork of stub life and salvage value, with the calculation of lyrical and critical LLP reserve rate and enumerate the elements reimbursement tied directly to A comparison IELTS &EAP, catalog prices. Enumerate! LLP ReplacementScope of Reimbursement. LLP reserve reimbursement is for the purchase price of the part, not for engelsk essay hvordan, repair, installation or any other labor or any other cost. This preceding sentence isn#8217;t debatable, it#8217;s not an #8220;issue#8221;; it#8217;s the commercial basis of the deal. But from time to time I see a negotiated lease agreement stray from the deal. If the lessee wants anything other than LLP price in the reimbursement, then the LLP rate needs to go up. I#8217;m just going to touch on this last issue, because it is a big topic. The above discussion refers in various places to the cycle life of a part as if cycle life were static and unambiguous.
But this not the enumerate the elements of personal case. For example: Engine manufacturers sometimes extend the cycle life of a part already in service for example, because operational experience has shown that the part will last longer. Engine manufacturers may assign different LLP cycle lives to and critical, different operators based on each operator#8217;s profile (geographic location, routes, etc.). Engine manufacturer#8217;s may guarantee a longer life of an LLP than the current cycle life (because the engine manufacturer expects the cycle life will be extended before the current cycle life is used). LLP cycle life may be adjusted if an the elements essay, engine is operated at harvard font different thrusts. Enumerate The Elements Of Personal! For the lawyer drafting the LLP reserve provisions in a lease agreement, all of the above should be considered while drafting. I#8217;ll try to come back at a later date for a full discussion of this last issue.
In the meantime, caveat advocatus.
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What Are the Writing Elements for a Personal Narrative? | Synonym
Essay on Foreign Direct Investment (FDI) Read this essay to learn about Foreign Direct Investment (FDI). The Elements Essay! After reading this essay you will learn about: 1. Introduction to &EAP, FDI 2. Concept of FDI 3. Foreign Portfolio Investment 4. Raison d’etre 5. Benefits 6. Selection 7. The Elements! Negative Impact 8. Types 9. Theories 10. Patterns 11. Policy Framework 12. Promotion 13. Lyrical And Critical! FDI Trends in the elements of personal, India. Essay on the Introduction to FDI Essay on essay, the Concept of FDI Essay on Foreign Portfolio Investment in comparison to FDI Essay on Raison d’etre for FDI Essay on the Benefits of FDI Essay on the Selection of FDI Destinations Essay on enumerate the elements, the Negative Impact of Foreign Direct Investment Essay on the Types of Foreign Direct Investment (FDI) Essay on the Theories of Foreign Direct Investment Essay on the Patterns of FDI Essay on the Policy Framework to Promote Foreign Direct Investment (FDI) Essay on essay on professional identity, the Promotion of Foreign Direct Investment in India(FDI) Essay on FDI Trends in India. International trade and foreign direct investment (FDI) are the two most important international economic activities integrating the world economy. Enumerate The Elements Of Personal Essay! With the increase in the mobility of factors of production across countries, FDI has become an integral part of a firm’s strategy to expand international business.
FDI is the online, largest source of external finance for developing countries. At present, inward stock of FDI amounts to the elements of personal, about one-third of the developing countries’ gross domestic product (GDP), compared to merely 10 per cent in 1980. FDI plays a crucial role in the development process of host economies. It also has a significant role in enhancing exports of the engelsk essay hvordan, host country. It is estimated that the sales from foreign-owned facilities are about double the value of world trade. FDI not only serves as a source of capital inflow into host economies, but also helps to enhance the enumerate the elements of personal essay, competitiveness of the domestic economy through transferring technology, strengthening infrastructure, raising productivity, and generating new employment opportunities. FDI has often been viewed as a threat by host countries due to the capacity of transnational investing firms to A comparison IELTS, influence economic and political affairs.
Many developing countries often fear FDI as a modern form of the elements essay, economic colonialism and exploitation, similar to their previous unpleasant experiences with colonial powers. Yet, FDI flows are generally preferred to other forms of online creative, external finance because these are non-debt creating, non-volatile, and the returns depend on the performance of the project financed by the investors. FDI is considered superior to other types of capital flows due to various reasons: i. Firms entering a host country through FDI have a long-term perspective in enumerate the elements, contrast to essay, foreign lenders and portfolio investors. Therefore, FDI flows are less volatile and easier to the elements of personal, sustain at the time of economic crisis. ii. Debt inflows may finance consumption whereas FDI is more likely to be used to format font, improve productivity. iii. Since FDI provides more than just capital by offering access to internationally available technologies, management know-how, and marketing skills, it is likely to have a strong impact on economic growth. A firm has to evaluate various options to cater to foreign markets and select the most appropriate mode of international business expansion.
Geographical distances of the elements of personal, markets or resources, especially for essay low-value products, make it more attractive to get into manufacturing operations overseas. In addition, the firm has to carry out a risk benefit analysis of licensing vis-a-vis ownership for enumerate essay its international operations. A foreign firm investing in India should understand the online creative, institutional and regulatory framework for investment promotion in India. In simple terms, FDI means acquiring ownership in an overseas business entity. It is the movement of capital across national frontiers, which gives the investor control over the assets acquired. FDI occurs when an the elements of personal investor based in one country (the home country) acquires an asset in another country (the host country) with the intent to manage it.
It is the A comparison &EAP, management dimension that distinguishes FDI from portfolio investment in foreign stocks and other financial instruments. Conceptually, a firm becomes a multinational corporation (MNC) by way of FDI as its operations extend to enumerate the elements of personal essay, multiple countries. FDI is defined as an investment involving a long-term relationship and identity reflecting a lasting interest and enumerate the elements essay control by a resident enterprise (foreign direct investor or parent enterprise) in in a reflective essay, one economy in an enterprise (FDI enterprise or affiliate enterprise or foreign affiliate) resident in an economy other than that of the foreign direct investor.’ For acquiring substantial controlling interest, generally 10 per cent or more equity is to be acquired in the foreign firm. The ‘lasting interest’ implies the existence of a long- term relationship between the direct investor and the enterprise wherein a significant degree of enumerate of personal, influence is format, exerted by the investor in the management of the direct investment enterprise. Direct investment enterprise refers to an incorporated enterprise in which a foreign investor owns 10 per cent or more of the ordinary shares of voting power or an unincorporated enterprise in which a foreign investor has equivalent ownership. Ownership of 10 per cent of the ordinary shares or voting stock is the criterion for enumerate the elements essay determining the existence of a direct investment relationship. These are either directly or indirectly owned by the direct investor. The definition of harvard font, direct investment enterprise extends to the branches and subsidiaries of the direct investor. FDI is characterized by decreased sensitivity to enumerate of personal essay, fluctuations in foreign exchange rates. On Professional Identity! Since FDI is the result of a long-term perspective by the investor, it is much less volatile than foreign portfolio investment.
It has been reported that most FDI (i.e., more than 90%) leads to intra-corporate trade at international level. The returns of FDI are generally in form of profit, i.e., retained earnings, profits, dividends, royalty payments, management fees, etc. Essay # 3. Foreign Portfolio Investment in comparison to enumerate the elements of personal essay, FDI : Foreign portfolio investment (FPI) is defined as an investment by individuals, firms, or a public body in foreign financial instruments, such as foreign stocks, government bonds, etc. In FPl, the equity stake in the foreign business entity is not significant enough to exert any management control. Thus, FPI is the passive holding of securities and other financial assets by a foreign firm, which does not entail management control of the issuing firm.
High rate of returns and in a essay mitigation of risks due to geographical diversification positively influence FPL Thus, FPI is passive whereas FDI is active. The returns in essay, the case of FPI are generally in the form of reflective essay you should, non-voting dividends or interest payments. Portfolio investment, like FDI, is part of the enumerate the elements of personal, capital account of balance of payment (BoP) statistics. It is important to understand why a firm takes a decision to invest in foreign countries when low-risk alternatives to cater to foreign markets, such as exporting and licensing, are already available. As the firm invests its own resources in a foreign country, the reflective essay, firm is exposed to greater risks. Of Personal! Major factors that influence a firm’s decision to invest in foreign markets are discussed. Higher costs of transportation between the production facilities and geographically distant markets make it economically unviable for firms to lyrical, compete or enter such markets. Substantial costs of the elements of personal essay, transportation have to be incurred for on professional marketing products in countries located at larger geographical distances.
For a product with low unit value, i.e., value to weight ratio, such as steel, fast food, cement, etc., the cost of transportation has much larger impact on the elements of personal, its competitiveness in foreign markets compared to a high-unit value product, such as watches, jewellery, computer processors, hard-disks, etc. Therefore, for low-unit value products, it becomes more attractive to manufacture the products in the foreign country itself either by in a essay way of of personal, licensing or FDI. Liability of creative writing sites, foreignness : A firm’s unfamiliarity with the host country and lack of adaptation of business practices in the elements essay, a foreign country often result in a competitive disadvantage vis-a-vis indigenous firms. This adds to the cost of doing business abroad, which is termed as liability of identity, foreignness’. For instance, Kellogg’s unfamiliarity with Indian breakfast habits led to faulty positioning of its cornflakes as a substitute to the traditional Indian breakfast and has been a classic marketing blunder. It took several years for Kellogg’s to understand the enumerate, centrality of its traditional food in India’s lifestyle before repositioning its cornflakes as a complementary rather than a substitute to in a essay you should, the Indian breakfast.
In another instance, Disneyland failed miserably in its French venture primarily due to lack of product adaptation in view of significant differences in customers’ preferences in Europe vis-a-vis the US market. It has to arrive at a trade-off between scale benefits from concentrating production at a single location and exporting or benefits of FDI, such as proximity of production locations, higher level of control, and gaining better access to enumerate of personal essay, the market. Potential benefits of FDI to host countries include the following: Access to superior technology: Foreign firms bring superior technology to the host countries while investing. The extent of benefits depends upon the technology spill-over to other firms based in online writing sites, the host country. The investing foreign firm increases industry output, resulting in the elements, overall reduction in online creative writing sites, domestic prices, improved product or services quality, and greater availability. This intensifies competition in host economies, resulting in net improvement in consumer welfare. Increase in domestic investment: It is the elements essay, found that capital inflows in the form of FDI increase domestic investment so as to survive and effectively respond to the increased competition.
Bridging host countries foreign exchange gaps: In most developing countries, the levels of domestic savings are often insufficient to support capital accumulation to achieve growth targets. Besides, the level of foreign exchange may be insufficient to purchase imported inputs. Under such situations, the FDI helps in making available foreign exchange for imports. Essay # 6. Lyrical And Critical Essays! Selection of FDI Destinations : A firm has to evaluate various countries as investment destinations and select the most appropriate one for investment. Briefly, the factors influencing net profit of an essay MNE’s operations in a host country include the following: Cost of capital input: Cost includes interest rate and financial capital employed for setting up of plant or the rent. Wage rate is highly significant for and critical essays the manufacture of labour-intensive products. The prevailing taxation rates of the host country are of prime importance while making an investment decision.
A large number of countries provide tax holidays to foreign companies in order to attract FDI. Costs of inputs: The costs of inputs in the host country, such as raw material, intermediate products, etc. influences the production cost which in turn influences the investment decision. Cost of logistics: Logistics, including availability of various modes of transport, and the cost of transportation, influence the FDI decision. Demand of a product in of personal, the host country market, including consumer preferences and their income levels, significantly affects the investment decisions.
In terms of ‘most attractive’ global FDI locations, four of the top five countries, as ranked by trans-national corporations TNCs are surprisingly, countries from developing economies. China is considered the most attractive investment location by 52 per cent of respondents followed by India with 41 per cent (Fig. 12.1). India’s high ranking is considered to be even more remarkable given the fact that FDI inflows to India have been modest until recently. The US is the only developed country in engelsk essay hvordan, the top five investment locations. Although, Germany, UK, and Australia could make it into the top 10, traditionally important FDI destinations, such as Canada, France, the Netherlands, and Italy were not included. This implies that TNCs expect investors to move away from established FDI locations, which often have saturated markets and high production costs, towards emerging economies that are often more dynamic. The overall trend in FDI inflows in recent years in developing countries is taking the lead in global FDI recovery. As indicated in Exhibit 12.1, India has emerged as a hot investment destination.
Leading global firms from a variety of industrial sectors, including IT, telecom, and automobile have not only made substantial investment in enumerate of personal essay, India but also plan to commit significant resources in the future too. Essay # 7. Negative Impact of Foreign Direct Investment (FDI): In most countries, public opinion towards foreign enterprises is not very favourable and engelsk essay FDI is feared due to its impact on domestic firms, the economy, and culture. The major concerns about the negative aspects of enumerate the elements of personal, FDI are as follows: Multinational enterprises (MNEs) are far more advanced than domestic companies, owing to their large size and financial power. In some sectors, this is leading to MNE monopolies, thus impeding the entry of domestic enterprises and harming consumers. MNEs’ ability to operate at a large scale and invest heavily in marketing and advertising and RD activities differentiate their products and lyrical and critical essays makes entry of new firms far more difficult as they are unable to make similar investments in RD and marketing strategies. (ii) Crowding-out and unemployment effects: FDI tends to discourage entry and stimulates exit of essay, domestic entrepreneurs, often termed as the crowding-out effect. As FDI enterprises are often less labour intensive, their entry results in higher unemployment and increased social instability. MNEs often function in a way that doesn’t result in between IELTS, technology- sharing or technology-transfer, thereby making local firms technologically dependent or technologically less self-reliant.
Foreign investors import their inputs and use the host country as a processing base, with little value-added earnings in the host country. Enumerate Of Personal! A large proportion of their profits may be repatriated. Large foreign investors often bribe government officials and distort market forces. With MNEs holding a dominant position in sensitive industries, such as telecommunications, and the supply of core equipment and software for the information technology (IT) industry, there is a danger that the strategic interests of the host country may be compromised. Essay # 8. Types of sites, Foreign Direct Investment (FDI):
Foreign direct investment may be classified under various heads depending upon the criteria used. Major types of FDI are discussed here: (i) On the Basis of Direction of Investment: Foreign firms taking control over enumerate the elements essay, domestic assets is A comparison between &EAP, termed as inward FDI. From an enumerate essay Indian perspective, direct investments made by between IELTS &EAP foreign firms, such as Suzuki, Honda, LG, Samsung, General Motors, Electrolux, etc., in India are examples of inward FDI. Domestic firms investing overseas and taking control over foreign assets is known as outward FDI. Such outward FDI is enumerate of personal essay, also known as Direct Investment Abroad (DIA). From the Indian point of view, direct investments overseas by essay Indian firms, such as Tata Motors, Infosys, Videocon, ONGC, Ranbaxy, etc., are illustrations of of personal essay, outward FDI. (ii) On the Basis of Types of Activity: When a firm invests in a foreign country in similar production activity as carried out in home country, it is termed as horizontal FDI. Thus, horizontal FDI occurs when the multinational undertakes the on professional, same production activities in multiple countries. Horizontal FDI enables the investing firm to exploit its competitive advantage in the host country.
Multinational firms from both developed and developing countries use horizontal FDI to establish their competitive advantage abroad. A number of MNEs, such as Coke, Pepsi, Kodak, HSBC, LG, Samsung, etc., expanded internationally by way of horizontal FDI. Direct investment in industries abroad so as to enumerate of personal, either provide inputs for the firm’s domestic operations or sell its domestic outputs overseas is termed as vertical FDI. Thus, vertical FDI takes place when the multinational fragments the production process internationally, locating each stage of production in A comparison between, the country where it can be done at of personal essay the least cost. A firm gains control over various stages of the value chain from font, sourcing raw materials to manufacturing and to marketing.
The MNEs fragment their production activities geographically on the basis of factor intensities in vertical FDI. Backward vertical FDI: Direct investment overseas aimed at providing inputs for the firm’s production processes in the home country is termed as backward vertical FDI (Exhibit 12.2). Such FDI is historically common in extractive industries, such as mining (gold, copper, tin, bauxite mining, and petroleum extraction). Companies like British Petroleum and Shell have expanded their international business by backward vertical FDI.
Forward vertical FDI: Direct investment in of personal essay, a foreign country aimed to sell the on professional, output of the firm’s domestic production processes is referred to as forward vertical FDI. Setting up a marketing network, assembly, or mixing operations overseas are illustrations of enumerate of personal essay, forward vertical FDI. Direct investment overseas aimed at manufacturing products not manufactured by the firm in the home country is termed as conglomerate FDI. (iii) On the Basis of Investment Objectives: In order to gain privileged access to resources vis-a-vis competitors, MNEs invest in lyrical and critical essays, countries with availability of natural resources. This ensures the MNE of stability of raw material supply at enumerate essay right prices. The major economic determinants for resource seeking FDI include: i. Availability of raw material. ii.
Complementary factors of production. iii. Physical infrastructure. When resource-abundant countries lack capital and necessary technical skills for resource extractions, such FDI is favored. When host countries are no longer constrained with the availability of capital and technical skills and are able to set up competitive indigenous enterprises, FDI gives way to non-equity arrangements and arm’s-length trade relations. Historically, resource-seeking FDI has been very important but its significance has declined considerably over in a essay you should, time.
However, resource-seeking FDI still remains extremely important for the elements investing in developing countries. Such types of MNEs are common in sectors, such as oil, agro-processing, metals like steel, copper, bauxite, etc. Moreover, resource-seeking FDI is also preferred for production of labour-intensive goods. Online Creative Writing! For instance, naturally occurring soda ash in Kenya reduces the of personal, cost of online creative writing sites, production by half for chemical industries. Cheap gas in of personal essay, Trinidad and Tobago considerably brings down the cost of steel production. Morocco is an investment destination for Tata Chemicals because the country holds 60 per cent of the world’s phosphate resources.
MNEs invest in countries with sizeable market and growth opportunities in order to protect existing markets, counteract competitors, and to preclude rivals or potential rivals from gaining new markets. Investing in other countries helps the investing firm to reduce transaction costs, improve buyer understanding by bringing it closer to the target markets, and overcome a number of regulatory controls in the host country. The major economic determinants of market-seeking FDI include: ii. Market growth. iii.
Regional integration. Market-seeking FDI are often favoured by MNEs in a large number of durable and non-durable consumer goods, such as automobiles, computers, processed foods, cigarettes, etc. A firm may strategically opt for efficiency-seeking FDI as a part of IELTS, regional or global product rationalization and/or to gain advantages of process specialization. Efficiency-seeking FDI provides the investing firm not only access to markets but also economies of scope, geographical diversification, and international sourcing of inputs. The major economic determinants of efficiency seeking FDI include: i. Productivity adjusted labour costs. ii.
Availability of skilled labour. iii. Availability of business related services. iv. Enumerate Of Personal Essay! Trade policy.
Efficiency-seeking FDI are often favoured in product categories, such as motor vehicles, electrical appliances, business services, etc., besides, in essay, process involving production of consumer electronics, textiles and clothing, and pharmaceuticals. On the essay, basis of entry modes, foreign direct investment may be of the following two types: Investing in creation of new facilities or expansion of existing facilities is termed as Greenfield investment. Firms often enter international markets by way of Greenfield investments in industries where technological skills and production technology are the identity, key. Further, the selection of FDI mode is influenced by: i. Institutional factors. ii. Cultural factors. iii.
Transactional cost factors. Particularly, the enumerate, attitude towards takeovers, conditions in capital markets, liberalization policies, privatization, regional integration, current sales, and the role played by intermediaries, such as investment bankers affect the harvard format, mode of direct investment abroad. Investment promotion by host countries aims at investment in new greenfield ventures as it is viewed to generate economic benefits. In developing countries where the essay, right types of companies are not available for acquisition, Greenfield operations are the preferred mode of FDI. Mergers and acquisitions : For establishing overseas production facilities, mergers and acquisitions (MAs) are crucial tools for engelsk essay hvordan a firm’s internationalization strategy. MAs have become an increasingly popular mode of investment among firms worldwide in order to enhance their competitiveness so as to consolidate, protect, and advance their position by acquiring companies internationally. It is estimated that about 70-80 per cent of FDI are in the form of MAs. In developed countries with large number of competing firms, MAs serve as principal source of FDI. However, an MNE has to of personal, make Greenfield investments in developing and least developed countries where the right type of target firms are not available for acquisition. The value of India’s total cross-border deals, both inbound and outbound, increased significantly by 409 per cent from US$9.5 billion in 2005 to US$48 billion in 2007 but declined to US$25.63 billion in 2008. The value of inbound deals increased by 200 per cent from US$5.1 billion in 2005 to US$15.5 billion in 2007 whereas the outbound deals during the same period increased rapidly by engelsk essay hvordan 662 per cent from of personal, US$4.3 billion to US$32.8 billion.
However, both inbound and outbound deals declined^ to US$12.48 billion and US$13.15 billion, respectively in 2008. The major foreign MNEs acquiring Indian firms during 2005 to 2007 included Vodafone, Maxis Communication and Apollo, Vendanta Resources, Mylan Laboratories, Mittal Investments, Citigroup, Oracle, Holcim and Matsushita Electric Works Ltd (Table 12.1) whereas major overseas acquisitions by Indian firms included that of Tata Steel, Hindalco, Suzlon, Essar Steel Holdings, Great Offshore, United Spirits, Tata Power, Tata Chemicals, J SW Steel Limited, Wipro Technologies, Dr. Reddy’s Laboratories, and Suzlon Energy (Table 12.2). The most attractive returns from mergers occur where scale economies can be achieved, which means essentially buying consolidation among peer companies. India is likely to witness a relatively large volume of horizontal combinations where companies buy their peers. An acquisition may be termed as a ‘hostile takeover’ when it is resisted by the target firm’s management and essay hvordan board of directors. Such takeover attempts are strongly resisted by the target firm. In order to prevent the of personal essay, acquiring firm from such takeovers the target firm often resorts to harvard font, use of ‘poison pills’ by increasing the cost of negative items as a strategic option, as discussed in Exhibit 12.3. However, the acquiring firm may raise the attractiveness of its offer, through a ‘sweetener’ to effectively counter the target firm’s resistance. Investment by foreign firms in the manufacturing sector is termed as industrial FDI. Major objectives of FDI in enumerate of personal, the manufacturing sector include: i. To achieve cost efficiencies by way of taking advantage of availability of raw material inputs and manpower at cheaper costs.
Savings in costs of logistics due to proximity to online sites, inputs, markets, or both, results into cost reduction. ii. To bypass trade barriers such as high import tariffs and other import restrictions. iii. To be closer to the markets and enumerate of personal essay serve them more efficiently. iv. To have physical presence due to strategic reasons.
Investment by a foreign firm in services sector is termed as non-industrial FDI. The major reasons for non-industrial FDI are: i. Essay Hvordan! As services are non-tradable, FDI becomes a strategic option to enter international markets. ii. To overcome regulatory obstacles. iii. To create regular contact with the customer.
(vi) On the enumerate of personal essay, Basis of Strategic Modes: In response to reflective, trade barriers of the host country, such as import restrictions and prohibitive tariff structure, FDI is made a substitute for exports. It is aimed to serve the target market and its surroundings effectively. Entry mode for such types of FDI is typically through MAs. Countries with high per capita income are generally targeted for export replacement FDI. In order to minimize a firm’s cost of enumerate of personal essay, production and distribution, FDI is made so as to utilize the target country to serve the global markets. The competitive advantage and essay the incentives offered by the host country plays a crucial role in the elements of personal essay, attracting such FDI.
Greenfield investment is often the mode of A comparison IELTS, entry in such target markets as these have relatively low per the elements essay, capita income. Firms invest in foreign countries so as to use the sites, target as a base to serve investors’ home country. The basic objective of firms in this kind of enumerate the elements, FDI is to obtain cheap inputs to support home production. Bilateral trade agreements play an important role in FDIs to promote substitutions. Firms generally target countries with middle to high per capita income, using the Greenfield operations as the entry mode. Essay # 9. Theories of Foreign Direct Investment: Most trade theories fail to explain why a firm invests in creative, foreign countries in of personal, unfamiliar environments, making its operations much more complex, difficult to manage and, therefore, running additional risks. An FDI theory should help one conceptualize answers to typical ‘W and lyrical essays ‘H’ questions such as: Who is the of personal, investor?
A domestic or a foreign investor, an established multinational company, or a little known new firm. What kind of online writing, investment is to be made? Whether it is Greenfield or merger or acquisition? Whether the investment is enumerate the elements of personal, first-time or sequential? Why should the firm go abroad? Reasons for internationalization, such as scale or scope economies, cost reduction, increased profitability, or strategic reasons for making the investment. The firm has to carry out analysis of socio-cultural, political, and between IELTS economic factors before deciding upon the selection of of personal, host country for investment. The timing of format, investment decisions in view of product lifecycle stages, maturity of the market, and firm’s resource availability. How to internationalize?
In view of various modes of international business expansion, the firm has to select the best suited entry mode. Principal theories of international investment that address one or more of these issues are discussed here. The earlier theories were based on the belief that FDI takes place due to differences in the rates of return on of personal, capital across countries. Capital is A comparison, likely to be attracted to markets that offer higher returns as long as there are differences in interest rates or prices between markets. These theories were based on enumerate essay, the assumption that markets were perfectly competitive and firms invest overseas as a form of factor movement to benefit from differential profits. The theory of capital arbitrage is reflective you should, more suitable for foreign portfolio investments where the returns on capital are crucial in the short term. A firm has long-term interest in FDI, a variety of multiple factors influence the investment decision, besides higher rate of return. Enumerate Of Personal Essay! Therefore, the essay you should, scope of capital arbitrage theory is limited to providing a broad explanation of FDI. Factors that inhibit markets from working perfectly are known as market imperfections.
Government policies, including import restrictions and quotas, incentives on exports and FDI, tax regimes, restrictions on enumerate of personal essay, FDI, and government’s participation in trade are some of the examples of government intervention that create market imperfections. The basic objective of such restrictive measures is to promote a country’s industrial development and manage the balance of trade. Most developing countries often practice the import substitution strategy by restricting imports and promoting domestic production of less competitive indigenous firms. However, developed countries are in no way behind in protecting their domestic industries by providing huge subsidies and essay incentives to domestic producers, besides using a variety of ever-evolving non- tariff barriers to restrict entry to their markets. A combination of of personal essay, all these factors contributes to imperfections in the international markets.
Such market imperfections make exporting both restrictive and expensive. In order to access restrictive markets with market imperfections, FDI is often employed as a strategic tool for international business expansion. FDI effectively bypasses the trade restrictions, such as prohibitive import tariffs and quotas. MNEs tend to exploit market imperfections created by the host country governments by direct investment overseas. Such protectionist measures decreased profitability of exporting automobiles from Japan to harvard essay format, Europe and increased profitability of FDI to cater to the market. This explains establishment of manufacturing operations by Japanese automobile majors in Europe and the US. It is important to enumerate of personal, understand that it is the essay, mobility of capital and immobility of low- cost labour that makes FDI a preferred tool to access foreign markets. Firms often take advantage of market imperfections, such as economies of scale and scope, cost advantages, product differentiations, technical, managerial or marketing know-how, financial strengths, etc., by way of enumerate the elements, investing abroad. A firm expands internationally in order to harvard, exploit its specific advantage or core competence in foreign markets. When the know-how, technology, skills, or trade secrets available with the firm are crucial to a firm’s competitive advantage, it needs to protect such knowledge base within the organization.
Since arm’s-length collaborative strategies, such as management contract and enumerate licensing do not provide complete protection to the specific know-how possessed by the firm, internalization is often preferred so that trade secrets remain within the organization. Therefore, a firm expands into international markets by way of investing in a foreign country in harvard format font, order to the elements, have control over its overseas operations. An MNE is believed to possess monopolistic advantage, which enables it to operate overseas more profitably and lyrical and critical essays compete with local firms. The benefit possessed by the firm that maintains its monopolistic power in the market is termed as monopolistic advantage. For a firm to invest in physical resources overseas, the following conditions are required: i. The firm should have some additional advantage that outweighs the enumerate the elements of personal, cost of operating in a foreign country and exposing itself to an alien business environment. ii. The firm can exploit such specific advantage only through control of foreign operations by ownership rather than other low-risk means of market access requiring less commitment of resources such as exporting and licensing. Such an advantage specific to the investing firm is also known as firm specific advantage (FSA). Essay Hvordan! It is the monopolistic advantages such as ‘superior knowledge’ and ‘economies of scale’ not possessed by competing firms that justify investment in physical capital overseas.
(v) International Product Life Cycle Theory : The international product life cycle (IPLC) theory developed by Raymond Vernon provides an explanation as to why production locations are shifted across countries. Although the theory was developed in the American context, it can be extended to other countries too. A firm gains monopolistic advantage by innovation of a product or process technology and markets the product domestically or in overseas markets through exports. The product is initially manufactured in the country of innovation even though the cost of production in enumerate essay, other countries may be lower. Subsequently, in creative writing sites, the growth phase of the product life cycle, when the enumerate the elements, product becomes standardized, the innovating firm takes advantage of essays, lower cost of manufacturing abroad, and starts investing in other countries to create its own manufacturing facilities. The theory suggests that an MNE prefers those countries for investment as manufacturing locations that have market size large enough to support local production. In the growth phase of product life cycle, the FDI is made to other high income countries to shift production with sizeable market. In the the elements, maturity stage, technology becomes available to the competitors, the competition intensifies, and essay the innovating firm shifts production from the country of initial FDI to enumerate of personal, other lower-cost locations. As a result, the products manufactured in overseas locations become more cost-competitive vis-a-vis those manufactured in the home country and the foreign-based subsidiaries become not only more competitive to serve overseas markets but their production is also imported into the innovating country even to serve its domestic market. IPLC theory is valid for both trade and investment and provides a dependable explanation about trade patterns and investment. The theory explains why firms undertake FDI in countries with low production costs and considerable demand to in a you should, support local production.
However, the IPLC theory does not touch upon the reasons for undertaking international investment rather than exporting or licensing, which are low cost alternatives for enumerate the elements international business expansion. The theory applies mainly to industrial FDI in manufacturing sector. It is generally relevant to large firms with innovating capabilities. The IPLC theory ignores revenue as it is too cost-oriented. Further, it does not discuss opportunities when FDI is more profitable. The eclectic theory (OLI Paradigm) is a blend of macroeconomic theory of international trade (L) and engelsk essay hvordan micro-economic theories of the firm (O I). As suggested by the eclectic theory, the extent and pattern of FDI are determined by a combination of three factors as discussed here.
For the investing firm to be profitable overseas, it needs to possess some core competencies or specific advantages not shared by its competitors. Such advantages, internal to a specific firm, are termed as FSAs or ownership (O) factor. Such advantages should enable the firm either to have a lower marginal cost or higher marginal returns vis-a-vis its competitors so as to enable it to reap more profits from overseas investment. An MNE possesses firm-specific advantages, such as: i. Intangible assets, such as technology, knowledge, information and specific entrepreneurial, technical, managerial, and marketing skills. ii. Tangible assets, such as natural resources, capital, and manpower. iii. Enumerate Of Personal! Size economy Due to large size of A comparison between &EAP, MNEs they often enjoy economies of scale and scope, access to finance within the MNE, benefits emanating from diversification of the elements of personal essay, assets and risks spread. iv. Monopolistic advantage An MNE may benefit from its monopolistic ownership of scarce natural endowments, privileged access to raw materials, ownership of patent rights, and other inputs.
Since an MNE is required to have its operations in foreign countries, it has to harvard, incur additional costs due to: i. Psychic distance because of enumerate, differences in socio-cultural environment of the host country. ii. Unfamiliarity with the host country’s market conditions. iii. Differences in legal, political, economic environment, and institutional framework. iv. Increased expenses of operation and communication in a foreign country due to geographical difference. As the indigenous firm in the host country is not required to A comparison between, incur the enumerate the elements of personal essay, above costs, the ‘costs of creative sites, foreignness’ are specific to foreign firms.
Therefore, in order to operate profitably and to remain in a foreign market, an MNE has to poises firm-specific advantages that either lower its operational costs or earn higher revenue. The locational (L) advantage or factor of a host country is the key determinant to its relative attractiveness as an investment destination. The major country-specific advantages can be as follows: Availability of factor endowments, availability of raw materials and other inputs, productivity and costs of inputs, market size and its growth, cost of logistics, efficacy, and cost of communication channels. Familiarity of operational environment, socio-cultural similarity, language, low psychic distance between the firm’s home country and the host country. The host country government’s attitudes and policies towards foreign firms and investment, incentives to promote FDI, continuity of economic policies, and the stability of the government. An MNE would, therefore, typically prefer countries with large market size and high rate of market growth, adequate and low cost availability of raw material, inputs and manpower, socio-cultural proximity, economic and political stability. The internalization factor : The internalization (I) factor explains the entry mode used by enumerate the elements essay an MNE to access international markets. The core competencies or specific knowledge and know-how possessed by the firm form the basis of engelsk essay, economic gains. A firm may transfer its know- how to an unrelated firm in a foreign country by way of licensing and thus earn profits. A firm attempts to internalize its operations: i. Of Personal Essay! To protect its proprietary knowledge from competitors.
ii. Harvard! To create and maintain monopolistic or oligopolistic power in the market by placing entry barriers to its competitors, forming cartels, predatory pricing, cross- subsidizing among its international operations, etc. iii. The Elements Of Personal! To protect itself against market uncertainties. Thus, the internalization advantages explain why an essays MNE opts for wholly owned subsidiaries rather than licensing or minority ownership for accessing foreign markets. Internalization helps a firm lessen the incidences of market failure. The eclectic framework distinguishes between two types of market failures:
Endemic market failure: Such market failure occurs due to natural market imperfections, such as unfamiliarity with markets or lack of market knowledge, the incidence of of personal, transaction costs in external markets, interdependence on demand and supply, uncertainty and risks, etc. Structural market failure: Endogenous market imperfections created by an MNE so as to exploit its oligopolistic power are termed as structural market failures. MNEs are often involved in creating entry barriers for competitors, abusing their bargaining power due to their sheer size and financial strength, cross-subsidization, predatory pricing, and price discrimination. Besides, MNEs indulge in arbitraging government-imposed market regulations, such as tariffs and non-tariff barriers, differentiation in taxation regimes, etc., that create exogenous market imperfections. MNEs are often criticized for adopting unfair practices, such as transfer pricing and essay under-invoicing, through their affiliates for their own advantage so as to bypass high tariffs and the taxation differences among various countries. Thus, MNEs effectively arbitrage structural market imperfections through internalization, accumulating tariff and after-tax profits much higher than those of enumerate the elements essay, unrelated firms engaged in arm’s-length transactions. While enjoying these benefits of creative sites, internalization, an MNE has to incur various costs too—those of running large-scale vertically and horizontally integrated international businesses. The MNE is required to expend huge amount of enumerate, financial resources in and critical essays, managing the mammoth organization spread across many countries, often known as governance cost.
Multinational firms are often required to enumerate the elements of personal, invest substantial resources in acquiring know-how or technological competence while entering into unrelated lines of business. The eclectic theory provides the most comprehensive explanation of FDI, integrating firm-specific (O), location-specific (L), and internalization (I) advantages. It logically examines the reasons for investing overseas, the selection of IELTS, country location for investment, and the cost-benefit analysis for selecting the mode of international expansion in a holistic manner. In the enumerate of personal essay, past decade, the US software firms have increasingly utilized the low-cost IT labour force in India. Companies wishing to capture the on professional identity, benefits of outsourcing can engage in contracting (hiring an essay Indian contracting company to perform the service) or foreign direct investment (opening an Indian subsidiary and hiring Indian employees). Modern FDI theories predict that Indian software outsourcing should occur primarily in the form of FDI. However, contrary to FDI theories, many US and European companies are hiring Indian software contracting companies in order to use the A comparison between &EAP, low-cost Indian IT labour force. Hybrid model suggests that contracting companies provide their clients with a combination of the advantages of both FDI and contracting.
The amount of FDI undertaken over of personal essay, a given time period (for example, a year) is reflective you should, termed as the flow of FDI. If the investment is made by a foreign firm in a country, it is termed as inflow of FDI whereas investment made overseas is termed as outflow of FDI. The total accumulated value of foreign owned assets at a given time is the elements essay, termed as stock of FDI. FDI comprises equity capital and re invested earnings as per hvordan, IMF norms. Besides, capacity expansions financed by firms of foreign origin as well as short-term or long-term loans that form part of original packages are also treated as FDI.
There has been significant growth in FDI over the years. Globally, FDI inflows increased from US$742143 million in enumerate the elements of personal, 2004 to US$1305852 million in 2006 whereas FDI outflows rose from US$877301 million in 2004 to US$1215789 million in 2006. International macroeconomic factors, such as general economic slump and security concerns adversely affected FDI. This growth reflected increased flows to in a reflective essay you should, developing countries as well as to South East Europe and the Commonwealth of Independent States (CIS) which more than offset the decline in flows to developed countries. Between 2006 and 2007, FDI inflow’ to Netherlands exhibited the highest growth by 2285 per cent from US$4.4 billion in 2006 to US$104.2 in 2007 followed by the elements of personal essay the US (30.3%), Czech Republic (27.3%), and the UK (22.6%) among the writing sites, developed economies whereas among the developing economies, Brazil witnessed the highest growth of FDI inflows at 99.3 per cent, followed by Mexico (92.9%), Chile (92.2%), and Singapore (52.6%) (Table 12.3). The Russian Federation witnessed an the elements of personal impressive FDI inflow growth of 70.3 per creative sites, cent whereas FDI declined by 9.4 per cent for of personal essay India and 3.1 per cent for China.
While developed countries remain the major source of FDI, outflows from developing countries have also risen, from a negligible amount in the early 1980s to US$83 billion in 2004. The outward FDI stock from developing countries reached more than US$ 1 trillion in 2004, with a share of lyrical, 11 per cent in world stock. Developing countries are beginning to recognize the significance of foreign investment in order to achieve their firms’ competitiveness and for enhancing their economic growth. It is enumerate, important to understand that the government policies in developing countries were restrictive and paid little attention to outward investment. Moreover, the in a, ratio of FDI outflows to gross capital formation was 25 per cent for Singapore in 2002-04 compared to 8 per cent for the US. A number of enumerate the elements essay, firms from developing countries have also used MAs as strategic tools for global business expansion during the last few years. The global FDI increased faster than world trade and world output.
There had been considerable debate across the essay, world to reduce barriers to of personal essay, cross-border trade. Multilateral organizations, primarily the GATT and subsequently the WTO, worked to reduce the trade barriers. As a result, there had been significant reduction in essay, tariffs and non-tariff barriers, such as quota systems, which got eliminated from essay, most countries. However, countries do exercise innovative barriers and firms often use FDI as a tool to engelsk essay hvordan, circumvent protectionist measures. FDI by Japanese automobile companies in Europe, the US, and of personal some other countries was primarily aimed to circumvent their trade protectionist measures. Rapid globalization in the last decade accelerated cross- border investments. Greenfield foreign direct investment increased from 5656 projects in engelsk, 2002 to 9796 projects in 2004.
Developing and transition (South East Europe and CIS) economies attracted a larger number of enumerate the elements of personal, Greenfield investment than developed countries. Greenfield investment is the key driver behind the FDI recovery during the hvordan, recent years. This illustrates the tendency of developing countries to receive more FDI through Greenfield projects than through MAs. China and India attracted significant number of Greenfield FDI projects, together accounting for nearly half of the total number in the developing countries. Recent liberalization measures in India and strong economic growth in China, combined with increased liberalization after its accession to WTO, contributed to this trend. The services sector accounted for three-fifth of all Greenfield projects in the world.
However, the FDI surge in 2005 is mainly attributed to increase in cross-border MAs. The Elements! Global MAs increased by 40 per cent to US$2.9 trillion whereas Greenfield projects marginally dropped in 2005. China, India, and the UK received highest number of Greenfield projects during the year. It has been observed that: i. The increase in share of MAs in the total FDI is essay identity, adversely affecting greenfield FDI. ii. The growing trend of essay, MAs is leading to creation of oligopolistic world, especially in case of engelsk essay hvordan, strategic industries.
iii. MAs severely affects survival of indigenous firms and industries from developing countries and they need to be more watchful. FDI is enumerate of personal, mainly financed by identity MNEs through: The foreign direct investor’s purchase of share of an enterprise in a country other than its own. Short- or long-term borrowings and essay lending of online sites, funds between direct investors, i.e., parent enterprises and the elements of personal essay affiliate enterprises. The direct investor’s share (in proportion to direct equity participation) of earnings not distributed as dividends by affiliates, or earnings not remitted to the direct investor. Such retained profits by affiliates are reinvested.
Among various FDI financing options, equity capital is the largest component. Essay Format! Its worldwide share in total world FDI inflows fluctuated between 58 per cent and 71 per cent, during 1995-2004. The intra-company loans accounted for 23 per cent and re-invested earnings for 12 per cent of the world FDI inflows during the of personal, same period. The later two components are also much less s. In 2001, the and critical essays, share of reinvested earnings in FDI financing reached a low of 2 per cent of worldwide FDI whereas the equity capital registered a higher share. However, in enumerate the elements of personal essay, 2007 re invested earnings accounted for about 30 per cent of worldwide FDI flows.
For carrying out cross-country comparison of FDI performance and FDI potential, the UNCTAD’s FDI performance and potential indices serve as useful tools. Inward FDI performance index : It is a measure of the essay identity, extent to enumerate the elements of personal essay, which a host economy receives inward FDI compared to the relative size of its economy. It is calculated as the ratio of a country’s share in global FDI inflows to its share in global GDP. IND i = The inward FDI performance index of the i th country. FDI i = The FDI inflows in the i th country. FDI w = World FDI inflows. GDP i = GDP in hvordan, the i th country. A value greater than ‘one’ indicates that the country receives more FDI compared to its relative economic size, a value below one that it receives less, a negative value means that foreign investors disinvest in that period. Thus, the index captures the influence of FDI on factors other than market size, assuming that, other things being equal, size is the ‘baseline’ for attracting investments. These other factors can be diverse, ranging from the of personal essay, business climate, economic, and essay hvordan political stability, the presence of natural resources, infrastructure, skills, and enumerate technologies, to opportunities for participating in privatization or the effectiveness of FDI promotion. The countries with top inward FDI Performance Index in 2006 included Luxembourg, Hong Kong, China, Suriname, Iceland, Singapore Malta, Bulgaria, Jordan, Estonia, and Belgium.
The inward FDI performance index improved in 2004 for hvordan developing countries as well as transition economies of South East Europe and the CIS. The improvement had been remarkable in South, East, and Southeast Asia. However, it worsened in developed countries compared to 2003. For instance, the US where the of personal, FDI inflows rose by 69 per cent in 2004 had a lower performance index and ranked 114th out of 140 countries of the world due to its lower FDI flows in 2002-03. India’s ranking for in a reflective you should inward FDI index declined considerably from 98th in 1990 to 120th in 2000. However, it increased subsequently to 121st in 2005 but declined later to of personal, 113th in 2006.
Outward FDI performance index : Performance in FDI outflows relating to essay hvordan, the size of economies is measured by the elements outward FDI performance index. It is calculated as the ratio of a country’s share in global FDI outflows to its share in the world GDP. OND i = The outward FDI performance index of the i th country. FDI i = The FDI outflows in the i th country. FDI w = World FDI outflows. GDP i = GDP in the i th country. The differences in the index values among countries reflect differences in these two sets of factors determining outward FDI by Trans-national Companies (TNCs) headquartered in in a reflective essay, different countries: i. ‘Ownership advantages’, or firm-specific competitive strengths of TNCs (such as innovation, brand names, managerial and organizational skills, access to information, financial or natural resources, and size and network advantages) that they are exploiting abroad or wish to augment through foreign expansion. ii. ‘Location factors’, which reflect primarily economic factors conducive to the production of different goods and services in home and host economies, such as relative market size, production or transport costs, skills, supply chains, infrastructure, and technology supply. Driven by the competitive pressures of globalization of world economy, both these factors work together and lead a firm to invest abroad by the elements essay establishing foreign affiliates.
These affiliates then become a source of competitive strength for their respective corporate networks. The leading investor economies, in term of outward FDI performance index include Iceland, Hong Kong, China, Luxembourg, Switzerland, Belgium, Netherlands, Panama, Ireland, Azerbaijan, and Bahrain. India’s ranking in outward FDI performance index improved considerably from 94th in 2000 to 65th in 2005 but declined later to 56th in 2006. Inward FDI potential index : The inward FDI potential index reflects the stability of structure variables comprising the harvard essay, index. Enumerate The Elements Essay! It is based on 12 economic and structural variables measured by their respective scores on a range of 0-1.
It is the un-weighted average of scores based on: a. On Professional Identity! GDP per capita. b. The rate of enumerate the elements, growth of GDP. c. The share of exports in GDP. d. Telecom infrastructure. e. Commercial energy use per capita. f. The share of RD expenditures in gross national income. g. The share of tertiary students in the population.
i. Lyrical! Exports of natural resources as a percentage of the world total. j. Imports of parts and components of electronics and automobiles as a percentage of the world total. k. Exports in services as a percentage of the world total. l. Inward FDI stock as a percentage of the world total. The top economies by inward FDI potential index in 2006 include the essay, US, Singapore, the UK, Canada, Luxembourg, Germany, Qatar, Sweden, Norway, and Hong Kong (China). Cross-country comparison of essay, FDI performance vs. potential Indices : A comparison of enumerate the elements of personal, rankings by the FDI potential index with those of FDI performance index gives an indication of how each country performs against its potential.
Countries in you should, the world can be divided in four categories so as to draw up a four-fold matrix as shown in Exhibit 12.4. Countries with high FDI potential and enumerate the elements essay performance. Countries with low FDI potential but strong FDI performance. Countries with high FDI potential but low FDI performance. Countries with both low FDI potential and performance. In A Reflective You Should! India falls in the category of under performer with both low FDI potential and performance. Therefore, there is enumerate of personal essay, a lot of scope for enhancing both performance as well as potential. The concern for below potential countries is font, how they could raise their FDI performance to match their potential whereas the above potential countries need to continuously strive so as to sustain their FDI performance at levels comparable with those of past while addressing their structural problems. Essay # 11. Enumerate! Policy Framework to Promote Foreign Direct Investment (FDI):
Attracting foreign direct investment has become a key part of national development strategies for most countries. Such investments are often viewed to augment domestic capital, employment, and productivity, leading to reflective you should, economic growth. Despite its positive effects, FDI is enumerate the elements of personal, also blamed for crowding out domestic investments and essay lowering certain regulatory standards. The Elements Essay! The impact of FDI depends on many conditions. However, well developed and implemented policies can help maximize gains from FDI. Although FDI is believed to play a positive role in essay font, achieving sustainable development, it does not, however, automatically lead to environmentally and the elements socially beneficial outcomes. The nature and extent of essay font, these outcomes are critically affected by market conditions, and thus the regulatory framework, within which the investment takes place. Investment promotion by host countries is of personal essay, broadly made through three different ‘generation’ policies, which are discussed as follows:
First generation policies the essay, liberalization of FDI flows and the opening up of sectors to foreign investors. Second generation policies the marketing of enumerate the elements of personal essay, countries as locations for FDI and the setting up of national investment promotion agencies. Third generation policies the targeting of foreign investors at essay on professional the level of industries and clusters, and the marketing of the elements of personal, regions and clusters with the aim of essays, matching the essay, locational advantages of countries with the needs of foreign investors. Major regulatory and incentives measures for FDI may be summarized as: i. Online Sites! Screening, admission, and establishment: a. Closure of the elements of personal, certain sectors, industries, or activities to FDI. b. Minimum capital requirements. c. A Comparison IELTS! Restrictions on enumerate the elements of personal, modes of entry. d. Eligibility for bidding on in a reflective essay, privatization. e. Establishment of special zones (such as EPZs/SEZs) for FDI with legislation distinct from enumerate essay, that governing the rest of the country. ii. A Comparison IELTS &EAP! Fiscal incentives: a. Reduction in standard corporate income tax rates o Tax holidays.
b. Reductions in social security contributions. c. Accelerated depreciation allowances. d. Duty exemptions and drawbacks. e. Enumerate The Elements Essay! Export tax exemptions. f. Reduced taxes for expatriates. iii. Financial incentives: a. Investment grants. b. Subsidized credits. c. Credit guarantees.
iv. Other incentives. a. Subsidized service fees (electricity, water, telecommunications, transportation, etc.) b. Subsidized designated infrastructure such as, commercial buildings. c. Preferential access to government contracts. d. Closure of the hvordan, market to the elements of personal essay, further entry or granting of monopoly rights. v. Performance requirements: a. In A Reflective! Protection from import competition. b. Local content requirements (value added) c. Enumerate The Elements Of Personal! Minimum export shares. d. Trade balancing. e. Technology transfer.
f. Local equity participation. g. Employment targets. h. RD requirements. More generally, countries typically have a mix of both resource-seeking and efficiency-seeking FDI, reflecting partial reform of their trade regimes, and the political economy of harvard essay, dispensing patronage. Consequently, most countries follow dual policy regimes. On the basis of cross-country analysis of FDI regimes of six major Asian countries, i.e., India, People’s Republic of China (PRC), Republic of Korea, Malaysia, Thailand, and enumerate of personal essay Vietnam, the following observations may be made: i. FDI policy may differ between regions. Three of the six—China, India, and Malaysia—feature rather high levels of decentralized economic policy-making. Thailand has been pursuing a policy of ‘industrial decentralization’ for some time. Engelsk! In all six countries, with the exception of Malaysia, economic authority is progressively being devolved away from the centre in varying degrees and at different speeds.
ii. There are large inter-industry differences in the degree of the elements of personal, protection, and thus difference in incentive, in all the six countries. iii. State-owned enterprises (SOEs) typically receive preferential treatment, especially in essay identity, China, India, and Vietnam, and so do their MNE joint venture partners. iv.
Most countries offer some sort of fiscal or financial incentive to foreign investors. These vary by the sales orientation of the foreign investor, the technology introduced by the investor, the location of the investment, and other factors. v. Enumerate The Elements Of Personal! The regulatory regime frequently offers more than one entry option for online potential foreign investors, especially in recently reformed economies. A critical evaluation of FDI and economic development in India and enumerate the elements essay China, as given in creative writing, Exhibit 12.5, brings out the differences in their approach to economic development. Essay # 12. The Elements! Promotion of Foreign Direct Investment in India(FDI): The Department of Industrial Policy and identity Promotion is responsible for facilitating and promoting FDI inflows into the country. It plays an the elements essay active role in investment promotion through dissemination of information on investment climate and in a you should opportunities in India.
The department also advises potential investors about investment policies, procedures, and opportunities. It also helps resolve problems faced by of personal essay foreign investors in the implementation of their projects through the Foreign Investment Implementation Authority (FIIA) which interacts directly with the investors. In addition, a number of government departments, such as Ministries of Finance, External Affairs, Labour, Environment and Forests, etc., are also involved in the investment process. Exhibit 12.6 summarizes the harvard essay font, details of agencies involved in enumerate the elements of personal, FDI clearances/approvals in India. The policy framework of FDI in India evolved in a phased manner, from the strategy of import substitution soon after independence to progressive liberalization that began in the early 1990s. Essay Format Font! The Indian government promotes FDI so as to fuel its development plans with increased investment and derive spin-off benefits. FDI inflows in the development of the elements of personal, infrastructure, setting up of Special Economic Zones (SEZs), and essay on professional technological up gradation of Indian industry through Greenfield operation investments in manufacturing and in projects with high employment potential are encouraged. The FDI policy in India may be summarized as. i. Retail trading (except single brand product retailing) ii. Atomic energy.
iii. Lottery business. iv. The Elements Of Personal Essay! Gambling and betting sector. v. Business of chit fund and Nidhi Company. vi. Plantation except tea. vii. Trading in Transferable Development Rights (TDR) viii. Activity/sector not opened to private sector investment.
FDI up to essay on professional, 24 per the elements essay, cent allowed : i. Manufacture of items reserved for small sector up to 24 per cent above which prior government approval is required. FDI up to 26 per cent allowed : i. FM broadcasting FDI and FII investment up to 20 per cent with prior government approval. ii. Up-linking a news and current affairs TV channels with prior government approval. iii.
Defence production with prior government approval. iv. Insurance FDI and FII under the automatic route. v. Publishing of news papers and periodicals: with prior government approval. FDI up to 49 per cent allowed : a. Setting up hardware facilities, FDI and FII equity with prior government approval. b. Cable network FDI and FII with prior government approval. c. Direct to Home (DTH) FDI and reflective you should FII with prior government approval. FDI cannot exceed 20 per cent. ii. Scheduled air transport services under the automatic route. iii.
Commodity exchanges with prior government approval. iv. Credit information companies with prior government approval. v. Refining in case of PSUs with prior government approval. vi. Asset reconstruction companies with prior government approval. FDI up to 51 per cent allowed : i. Single brand product retailing subject to prior approval. FDI up to 74 per cent allowed : i. ISP with gateways, radio-paging, and end-to-end bandwidth: 49 per cent under automatic route and enumerate of personal beyond 49 per cent with prior government approval.
ii. Establishment and operation of satellites: with prior government approval. iii. Private sector banking: FDI and FII under the automatic route. iv. Engelsk Essay! Telecommunications services: Basic, cellular, unified access services, global mobile personal communication services, and other value added telecom services with 49 per cent under the automatic route and beyond 49 per cent with prior government approval. v. Non-scheduled air transport services, ground handling services under the automatic route. Foreign direct investment up to 100 per cent allowed with prior government approval subject to conditions: a. Items from of personal essay, small scale sector.
b. Test marketing of items approved for manufacture. ii. Courier services. iii. A Comparison Between IELTS! Tea sector, including tea plantation subject to divestment of 26 per cent equity in favour of enumerate the elements essay, Indian partner/public within five years. iv. ISP without gateway, infrastructure provider, electronic mail, and voice mail: FDI up to 49 per cent under the automatic route and beyond 49 per cent with prior government approval. v. Mining and mineral separation of titanium bearing minerals and IELTS &EAP ores, its value addition and integrated activities. vi. Cigars and enumerate cigarettes manufacture. vii.
Airports-existing projects with prior government approval beyond 74 per cent. viii. Up-linking of a non-news and current affairs TV channel. ix. Essay Font! Investing companies in infrastructure/ services sector (except telecom sector) x. Publishing of scientific magazines, specialty journals and periodicals. Foreign direct investment allowed up to 100 per cent under automatic route: i. Agriculture sector: c) Development of seeds. d) Animal husbandry. g) Services related to agro and allied sectors.
ii. Industrial sectors: (a) Covering exploration and mining of diamonds and precious stones, gold, silver, and essay minerals. (b) Coal and lignite for captive consumption. (b) Manufacturing activities: (a) Alcohol distillation and brewing. (b) Coffee and rubber processing and warehousing. (c) Hazardous chemicals. (d) Industrial explosive—manufacture. (e) Drugs and pharmaceuticals.
(f) Manufacture of telecom equipment. (c) Petroleum sector: (a) Petroleum sector other than refining including market study and formulation; investment/financing; setting-up infrastructure for engelsk essay hvordan marketing. (b) Petroleum refining for private companies. (a) Generation (except atomic energy), transmission, distribution, and power trading. i. Special Economic Zones and Free Trade Warehousing Zones. ii. Enumerate The Elements Essay! Industrial Parks.
iii. Construction development projects. (a) Civil aviation. i. Airports Greenfield projects. ii. Helicopter/seaplane services. iii. Maintenance and repair organizations, flying and online writing technical training institutes. iv. Air transport services for NRI investment.
v. Essay! Ground handling services for NRI investment. (b) Non-banking finance companies. i. Wholesale/cash carry trading. ii. Trading for exports. In sectors/activities not listed above, FDI is permitted up to 100 per cent through automatic route subject to prevailing rules and regulations applicable. FDI inflows in essay, India have shown a fluctuating trend during the last few years as shown in Table 12.4 and Fig. 12.2.
It increased from enumerate the elements essay, US$4029 million in 2000-01 to lyrical and critical essays, US$6130 million in the elements of personal, 2001-02. However, the FDI inflows declined to engelsk essay, US$4322 million in 2003-04 but subsequently exhibited a rising trend to US$8,961 million in 2005-06 and thereafter jumped to US$22,079 million 2006-07 and US$29,893 million in 2007-08. The equity capital accounted for enumerate of personal 74.8 per and critical, cent, whereas re-invested earnings were 21.8 per cent, and other capital for 3.4 per cent of the total FDI inflows in India, as shown in Fig. 12.3 during April 2000 to May 2008. Sector-wise composition of the elements, FDI inflows as shown in Fig. 12.4 indicates that services sector received the highest FDI inflows of US$14,256 million (22%) during April 2000 to May 2008, followed by computer software and hardware US$7,477 million (11.5%), construction activities US$4325 million (6.7%), telecommunications US$4074 million (6.3%), housing and real estate US$3745 million (5.8%), power US$2643 million (4.1%), automobile industry US$2582 million (4.0%), metallurgical industries US$2377 million (3.70/0), petroleum and natural gas US$2007 (3.1%), chemicals US$1519 million (2.3o/o), and others US$19800.3 million (30.6%). Mauritius has been the top investor in India with US$28493 million (40.6%) as shown in Fig. Sites! 12.5. Of Personal Essay! followed by the US with US$5327 million (76%), Singapore with US$4973 million (71%), the hvordan, UK with US$4579 million (6.5%), Netherlands with US$2791 million (4.0%), Japan with US$2151 million (3.1%), Germany with US$1637 million (2.3%), Cyprus with US$1162 million (1.7%), France with US$997 million (1.4%), UAE with US$802 million (1.1%), and others with US$17279 million (24.6%) during April 2000 to May 2008. Foreign Direct investment in Retail Sector : India is the second largest market in the world after China and it fascinates global retailers to invest. Many international players, such as Wal-Mart, Gap, Ikea, and Tesco already source from India despite FDI restrictions.
Wal-Mart, through its buying office in Bangalore, sourced goods worth US$1 billion from India in 2004 and planned to increase this to US$1.5 billion in enumerate essay, 2005. The major pros and cons of essays, opening up FDI in the retail sector are discussed here. i. Enumerate! FDI in retail would benefit the consumer by offering him/her more choice, better services, wider access, easier credit, and a better shopping experience. ii. Modern retailing will benefit local retailing by forcing it to re-invent as has been the case in China. iii. Lyrical Essays! It will lead to higher standards of quality, introduce best practices, provide more skilled employment, and improve tax collection. iv.
Foreign direct investment in retail would lead to less wastage of agri-produce due to improved food processing techniques and cold storage facilities. v. Enumerate Of Personal! FDI would involve up gradation of infrastructure, logistics, and support services. vi. It would help Indian products get global recognition. vii. It will help increase the supply of lyrical and critical essays, processed foods, apparels, and enumerate the elements of personal handicrafts. viii. Elimination of multiple middlemen would reduce transaction costs related to inventory, delivery, and handling. i. FDI in retail would wipe out indigenous mom and pop (kirana) stores as they will not be able to match the standards and services provided by super markets. ii. The unorganized sector would obviously lose its place and edge in the retail market.
iii. Retail FDI would also introduce competitive pricing, forcing a lot of domestic players out lyrical and critical, of the game. iv. It would reduce employment opportunities by displacing smaller retailers in the unorganized sector, like what has happened in Thailand. v. The Elements! It would mean legalizing the predatory practices of the MNC retail chains. vi. Retail-FDI will promote a ‘standardized’ form of engelsk hvordan, global foreign culture. vii. The Elements Of Personal Essay! India’s imports are likely to increase as MNCs will dump their products in India. viii.
Since very little investment is required in retailing, foreign players would end up remitting their profits. Allowing FDI in retail sector will considerably affect the market structure and the consumers. The government of India opened up FDI up to 51 per cent in retail trade to ‘single brand products’ with effect from online, 10 February 2006, with prior government permission. There has been considerable debate over the impact of FDI in retail sector. Opening up of the retail sector in the elements of personal, China has contributed to growth in labour- intensive manufacturing, as indicated in Exhibit 12.7. In view of the significance of FDI in between IELTS &EAP, development process of host economies, most countries promote FDI pro-actively.
A cross-country analysis of FDI regimes reveals the differences in focus areas and strategies in promoting foreign investment. Before publishing your articles on this site, please read the following pages:
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Guidelines for writing a literature review. by Helen Mongan-Rallis. Last updated: November 21, 2014. [Note: For these guidelines, in some sections I have quoted directly some of the the steps from: Galvan, J. (2006). Enumerate The Elements? Writing literature reviews: a guide for students of the engelsk hvordan, behavioral sciences (3rd ed.) . Glendale, CA: Pyrczak Publishing. ] A literature review is not an annotated bibliography in enumerate the elements of personal, which you summarize briefly each article that you have reviewed.
While a summary of the what you have read is contained within the literature review, it goes well beyond merely summarizing professional literature. It focuses on a specific topic of interest to reflective, you and includes a critical analysis of the relationship among different works, and relating this research to your work. It may be written as a stand-alone paper or to the elements of personal essay, provide a theoretical framework and rationale for a research study (such as a thesis or dissertation). These guidelines are adapted primarily from Galvan (2006). Writing Sites? Galvan outlines a very clear, step-by-step approach that is enumerate the elements of personal essay very useful to use as you write your review. I have integrated some other tips within this guide, particularly in suggesting different technology tools that you might want to consider in you should, helping you organize your review. In the enumerate the elements essay, sections from Step 6-9 what I have included is the essay on professional identity, outline of those steps exactly as described by Galvan. I also provide links at the end of this guide to resources that you should use in order to search the literature and as you write your review. In addition to using the the elements of personal, step-by-step guide that I have provided below, I also recommend that you (a) locate examples of literature reviews in your field of creative, study and the elements of personal essay skim over these to get a feel for A comparison &EAP, what a literature review is and how these are written (I have also provided links to a couple of of personal essay, examples at the end of engelsk essay, these guidelines (b) read over enumerate essay other guides to writing literature reviews so that you see different perspectives and approaches: Some examples are:
Read through the links provided below on APA guidelines so that you become familiar with the harvard format, common core elements of how to write in APA style: in particular, pay attention to general document guidelines (e.g. font, margins, spacing), title page, abstract, body, text citations, quotations. It will help you considerably if your topic for your literature review is the one on which you intend to do your final M.Ed. project, or is in some way related to the topic of your final project. Enumerate Of Personal? However, you may pick any scholarly topic. Step 3: Identify the literature that you will review : Familiarize yourself with online databases (see UMD library resource links below for help with this), identifying relevant databases in your field of study. Using relevant databases, search for literature sources using Google Scholar and essay on professional also searching using Furl (search all sources, including the Furl accounts of other Furl members). Some tips for identifying suitable literature and the elements essay narrowing your search : Start with a general descriptor from the database thesaurus or one that you know is already a well defined descriptor based on past work that you have done in this field.
You will need to in a reflective essay you should, experiment with different searches, such as limiting your search to descriptors that appear only in the document titles, or in both the document title and in the abstract. Redefine your topic if needed: as you search you will quickly find out if the topic that you are reviewing is too broad. Try to enumerate, narrow it to a specific area of interest within the harvard essay, broad area that you have chosen (remember: this is merely an introductory literature review for Educ 7001). It is a good idea, as part of your literature search, to look for existing literature reviews that have already been written on this topic. As part of your search, be sure to identify landmark or classic studies and theorists as these provide you with a framework/context for your study. Import your references into your RefWorks account (see: Refworks Import Directions for the elements of personal, guide on how to engelsk essay, do this from different databases). You can also enter references manually into enumerate of personal, RefWorks if you need to. Once you have identified and located the articles for your review, you need to analyze them and organize them before you begin writing:
Overview the articles : Skim the articles to get an idea of the general purpose and content of the article (focus your reading here on the abstract, introduction and first few paragraphs, the conclusion of each article. Tip: as you skim the articles, you may want to reflective essay, record the notes that you take on each directly into RefWorks in the box for User 1. You can take notes onto note cards or into the elements essay, a word processing document instead or as well as using RefWorks, but having your notes in RefWorks makes it easy to organize your notes later. A Comparison? Group the enumerate the elements of personal essay, articles into categories (e.g. into topics and subtopics and chronologically within each subtopic). Once again, it's useful to enter this information into your RefWorks record. You can record the topics in the same box as before (User 1) or use User 2 box for the topic(s) under which you have chosen to engelsk essay hvordan, place this article. Take notes : Decide on the format in which you will take notes as you read the of personal essay, articles (as mentioned above, you can do this in RefWorks.
You can also do this using a Word Processor, or a concept mapping program like Inspiration (free 30 trial download), a data base program (e.g. Access or File Maker Pro), in an Excel spreadsheet, or the old-fashioned way of using note cards. Be consistent in how you record notes. Define key terms: look for essay hvordan, differences in the way keys terms are defined (note these differences). Enumerate? Note key statistics that you may want to use in and critical, the introduction to your review. Select useful quotes that you may want to include in your review. Important : If you copy the exact words from an article, be sure to cite the page number as you will need this should you decide to use the quote when you write your review (as direct quotes must always be accompanied by page references).
To ensure that you have quoted accurately (and to enumerate the elements of personal, save time in format, note taking), if you are accessing the article in a format that allows this, you can copy and paste using your computer edit -- copy -- paste functions. Note: although you may collect a large number of quotes during the note taking phase of your review, when you write the review, use quotes very sparingly. The rule I follow is to quote only when when some key meaning would be lost in translation if I were to paraphrase the enumerate of personal, original author's words, or if using the original words adds special emphasis to a point that I am making. Note emphases, strengths weaknesses: Since different research studies focus on different aspects of the issue being studied, each article that you read will have different emphases, strengths. and weaknesses. Your role as a reviewer is to online creative, evaluate what you read, so that your review is not a mere description of different articles, but rather a critical analysis that makes sense of the enumerate the elements of personal essay, collection of articles that you are reviewing. Critique the research methodologies used in the studies, and IELTS distinguish between assertions (the author's opinion) and actual research findings (derived from empirical evidence). Identify major trends or patterns: As you read a range of articles on enumerate the elements of personal essay your topic, you should make note of trends and patterns over time as reported in the literature. Between &EAP? This step requires you to synthesize and of personal essay make sense of what you read, since these patterns and harvard essay format font trends may not be spelled out in the literature, but rather become apparent to you as you review the enumerate of personal, big picture that has emerged over time. Essay Identity? Your analysis can make generalizations across a majority of studies, but should also note inconsistencies across studies and over time. Identify gaps in the literature, and reflect on why these might exist (based on the understandings that you have gained by reading literature in this field of study).
These gaps will be important for you to address as you plan and write your review. The Elements Of Personal? Identify relationships among studies: note relationships among studies, such as which studies were landmark ones that led to essay on professional, subsequent studies in the same area. The Elements? You may also note that studies fall into lyrical, different categories (categories that you see emerging or ones that are already discussed in the literature). Enumerate The Elements Essay? When you write your review, you should address these relationships and different categories and discuss relevant studies using this as a framework. Keep your review focused on your topic: make sure that the articles you find are relevant and lyrical essays directly related to your topic. As you take notes, record which specific aspects of the article you are reading are relevant to enumerate the elements of personal essay, your topic (as you read you will come up with key descriptors that you can record in your notes that will help you organize your findings when you come to write up your review). If you are using an electronic form of note taking, you might note these descriptors in a separate field (e.g. in RefWorks, put these under User 2 or User 3; in Excel have a separate column for each descriptor; if you use Inspiration, you might attach a separate note for hvordan, key descriptors. Evaluate your references for currency and coverage: Although you can always find more articles on your topic, you have to enumerate essay, decide at what point you are finished with collecting new resources so that you can focus on writing up your findings. However, before you begin writing, you must evaluate your reference list to on professional identity, ensure that it is enumerate the elements of personal up to date and has reported the most current work. Typically a review will cover the engelsk hvordan, last five years, but should also refer to any landmark studies prior to enumerate essay, this time if they have significance in shaping the direction of the field. If you include studies prior to the past five years that are not landmark studies, you should defend why you have chosen these rather than more current ones.
Step 5: Summarize the literature in table or concept map format. Galvan (2006) recommends building tables as a key way to help you overview, organize, and summarize your findings, and suggests that including one or more of the tables that you create may be helpful in your literature review. If you do include tables as part of your review each must be accompanied by an analysis that summarizes, interprets and synthesizes the literature that you have charted in the table. You can plan your table or do the entire summary chart of your literature using a concept map (such as using Inspiration) You can create the table using the table feature within Microsoft Word, or can create it initially in Excel and and critical essays then copy and paste/import the of personal essay, the Excel sheet into essay identity, Word once you have completed the table in Excel. The advantage of using Excel is that it enables you to sort your findings according to a variety of factors (e.g. sort by enumerate the elements of personal, date, and then by author; sort by methodology and then date) Examples of tables that may be relevant to your review: Definitions of key terms and concepts. Research methods Summary of research results. Step 6: Synthesize the harvard essay font, literature prior to writing your review. Using the notes that you have taken and summary tables, develop an outline of your final review. The following are the key steps as outlined by Galvan (2006: 71-79) Consider your purpose and of personal voice before beginning to write. In the writing, case of this Educ 7001 introductory literature review, your initial purpose is to provide an the elements of personal essay overview of the topic that is lyrical essays of interest to you, demonstrating your understanding of key works and concepts within your chosen area of focus.
You are also developing skills in reviewing and writing, to provide a foundation on which you will build in subsequent courses within your M.Ed. and ultimately in your final project. In your final project your literature review should demonstrate your command of your field of essay, study and/or establishing context for a study that you have done. Consider how you reassemble your notes: plan how you will organize your findings into a unique analysis of the picture that you have captured in your notes. Important: A literature review is not series of essay, annotations (like an annotated bibliography). Galvan (2006:72) captures the difference between an enumerate essay annotated bibliography and a literature review very well: . in essence, like describing trees when you really should be describing a forest. In the case of a literature review, you are really creating a new forest, which you will build by essay font, using the trees you found in the literature you read. Create a topic outline that traces your argument: first explain to the reader your line or argument (or thesis); then your narrative that follows should explain and justify your line of argument. You may find the program Inspiration useful in mapping out your argument (and once you have created this in a concept map form, Inspiration enables you to convert this to a text outline merely by enumerate the elements essay, clicking on the outline button). This can then be exported into and critical essays, a Microsoft Word document. Reorganize your notes according to essay, the path of your argument Within each topic heading, note differences among studies. Within each topic heading, look for obvious gaps or areas needing more research.
Plan to describe relevant theories. Lyrical? Plan to the elements, discuss how individual studies relate to IELTS &EAP, and advance theory Plan to the elements essay, summarize periodically and, again near the online writing sites, end of the enumerate, review Plan to present conclusions and implications Plan to suggest specific directions for future research near the end of the review Flesh out your outline with details from your analysis. Step 7: Writing the review (Galvan, 2006: 81-90) Identify the broad problem area, but avoid global statements Early in the review, indicate why the topic being reviewed is important Distinguish between research finding and other sources of information Indicate why certain studies are important If you are commenting on between &EAP the timeliness of a topic, be specific in describing the time frame If citing a classic or landmark study, identify it as such If a landmark study was replicated, mention that and indicate the results of the replication Discuss other literature reviews on your topic Refer the enumerate the elements essay, reader to other reviews on issues that you will not be discussing in details Justify comments such as, no studies were found. Avoid long lists of nonspecific references If the results of harvard essay format font, previous studies are inconsistent or widely varying, cite them separately Cite all relevant references in the review section of thesis, dissertation, or journal article. Step 8: Developing a coherent essay (Galvan, 2006: 91-96)
If your review is long, provide an enumerate overview near the beginning of the review Near the beginning of and critical essays, a review, state explicitly what will and enumerate of personal essay will not be covered Specify your point of view early in the review: this serves as the thesis statement of the review. Aim for a clear and cohesive essay that integrates the key details of the literature and communicates your point of view (a literature is essay on professional not a series of annotated articles). Essay? Use subheadings, especially in long reviews Use transitions to help trace your argument If your topic teaches across disciplines, consider reviewing studies from each discipline separately Write a conclusion for the end of the review: Provide closure so that the between IELTS &EAP, path of the argument ends with a conclusion of some kind. How you end the review, however, will depend on of personal essay your reason for writing it. In A Reflective Essay? If the review was written to stand alone, as is the enumerate of personal, case of essay on professional, a term paper or a review article for publication, the conclusion needs to make clear how the material in the body of the review has supported the enumerate the elements of personal, assertion or proposition presented in the introduction. Between IELTS &EAP? On the other hand, a review in a thesis, dissertation, or journal article presenting original research usually leads to of personal essay, the research questions that will be addressed.
Check the flow of your argument for coherence. Galvan, J. (2006). In A Reflective You Should? Writing literature reviews: a guide for enumerate the elements of personal essay, students of the behavioral sciences ( 3rd ed.). Glendale, CA: Pyrczak Publishing.