Acid Base Titration Lab Essay Example

Acid Base Titration Lab Essay The completion of a reaction can be seen by a change in color or when the pH remains constant. The equivalence point during titration is when both solutions are present in equal amounts. The end point of the titration is when the reaction has been completed, which is usually marked by a change in color. One researchable question relating to acid/base titration would be what strengths of acids and bases react with each other during titration, and what kind of solution woo a ten two teen Tort. Strong access Ana strong oases can react, Ana teen Tort a neutral solution. We will write a custom essay sample on Acid Base Titration Lab specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Acid Base Titration Lab specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Acid Base Titration Lab specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Strong acids and weak bases can react, and they form an acidic elution. Strong bases can also react with weak acids to form a basic solution. Errors Improvements Adding Noah too quickly. Add the Noah one drop at a time until the proper level has been reached. The data was not properly recorded. Keep track of each pH increase for each experiment as opposed to Just initial and spikes. Beret may have been contaminated since multiple classes used the same beret without cleaning it. Clean the beret before and after each period of experimentation in order to avoid contamination.

Pollock - An Overview of the Biopic essays

Pollock - An Overview of the Biopic essays For my film, I chose to cover the biopic, "Pollock", starring Ed Harris. The film covers the complex life of one of America's most abstract painters, Jackson Pollock. The film's lead, Ed Harris, was a fantastic choice for the role. A little-known fact, "Ed Harris's father bought his son a book about Jackson Pollock simply because he felt Ed bore a strong resemblance to the painter. Ever since then, Ed Harris became fascinated with Pollock's life." (IMDB, 2000) This allowed him to portray the role in a very personal, well-informed way. Because of this, the film truly allowed me to gaze into the artist's life and gain a deeper appreciation for the external elements that affected the art created by such a renowned artist. The film literally walks us through what Jackson Pollock experienced during his career and short life. It starts at the climax of his career with the artist signing Life magazines that he was featured on. It then quickly flashes back to the beginning, the struggles he faced, and the difficulty he had getting his art showcased. You can see the frustration portrayed, and you can sense that he's almost ready to give up. He's living with his brother Sande in a small apartment, when Lee Krasner decides to intervene. She brings Jackson home with her and becomes his manager. Throughout everything, alcohol is constantly getting in the way and causing heartache for everyone in his life. He gets a fairly big deal from Peggy Guggenheim, who he almost sleeps with and that leads to some moderate success. He marries Lee and focuses on his career, the alcohol still getting in the way of any sort of peace. Life magazine does a feature story on him and things get better. He backs off of alcohol te mporarily and that creates a better mood and relative peace. The peace didn't last for long and after a photographer attempting to make a movie on Jackson triggers his drinking, things spiral downwards. He lets it get out of hand and blo...

Informative speech on the differences in mile stones between a normal Essay

Informative speech on the differences in mile stones between a normal person and a person with developmental disabilities - Essay Example Childhood is a period marked by incredible growth rate and every parent is excited about the future prospects of their children. Despite our differences that we show once we are on this earth, we develop along a certain route but at different rates. While some are slow in developing, others are fast. Yet others need wheelchairs to move around. Meyerhoff (6) believe that children are always surrounded by eager caretakers who follow every step of the kid’s growth, always enquiring why the child next door is developing fast than theirs. Many beg to ask if normal development has a range. Although, people develop at different rate, normal development has a range that is used to show the differences in milestones between a normal person and a person with developmental disabilities. According to Meyerhoff (6), developmental milestones are crucial in assessing the development of a child. It is good to note that the milestones are not static as different individuals either exhibit skills earlier while other individuals are late in exhibiting the skills. The milestones are also used to diagnose children with developmental disorders. These milestones are often associated with development of language capabilities, motor and social development. The milestones are divided into age categories and a normal child should show the skills and abilities of one age category before they enter into the next age category. It is also important to note that children develop differently in the different areas. Further, children who develop fast in one area may be slow in other areas. For example, a child who learns to use verbal language may struggle with spoken language. Another factor to note in developmental milestones is cultural differences. The development of an individual may be influenced by cultural and environmental differences. It is common knowledge that cultures perceive things differently. For example, making eye contact, speaking to adults and

Business for multi national Essay Example | Topics and Well Written Essays - 500 words

Business for multi national - Essay Example There is a concept of separate legal identity which differentiates the assets of the company from its owners. However, in the case of Maxwell, the funds of different organizations were used by him as if they were his own money which is contradicting not only the ethical aspect, but also the accounting aspect of ownership and control. Maxwell should have only used the funds of the company; even those funds should have been used after the approval from board. Maxwell used the funds of pension funds which belonged to employees and used them as collateral. This is an open violation of agency theory. The theory states that the trustees or people who control the movement of funds are the agents acting on the behalf of the true owners of those resources and they should make the best possible decision for the resources that are entrusted to them. When the ownership and control are exercised in the disadvantage of the stakeholders than the relationship between the agents and principal is terminated. Then any loss accruing from the misuse of funds or resources accrues to the agent and not the principal. Maxwell’s share of loss in this case should have been larger and he should have been burdened with all the resources that were due to his actions as an agent acting without the consent of principal. Maxwell disadvantaged the other stakeholders for the benefit of his own company. This is again something that is unacceptable from the ethical point of view and also from the regulatory and business point of view. The stakeholders suffered and in the end, Maxwell and his company suffered badly also. However, the funds that were loss due to his carelessness were not recovered and it can be seen in this case that when agent does something on this own behalf he is probably using the motive of self interest. That is one reason why law makers have developed the concept of â€Å"Board of Directors† that have to be consulted with so that

California Laws on Meals and Breaks Research Paper - 1

California Laws on Meals and Breaks - Research Paper Example From this paper it is clear that there is evidence that many organizations violate this law and are unwilling to provide this free time to the employees. Besides, some organizations provide these breaks at irregular time while others attach strict conditions regarding the utilization of this period. Therefore, it has become increasingly important to determine how the law should be implemented within the work environment and the role that the employees should play in contributing to the implementation of this law. Evidently, the government needs to support this work policy to reduce the various violation instances in the country. California’s breaks and meals laws provide employers with a framework on how to organize the working and rest period for their employees. According to the law, employers are required to provide their workers with 30 minutes break after every five working hours from the start time if the total working period exceeds 6 hours. Organizations that provide l ess than 6 working hours are exempted to this law as the government considers this working period considerably short. The implication is that if the workers have to work for more than ten hours, they must be awarded more than two breaks as a resting period. The law strictly requires that the five hours rule be adhered as part as obedience to the law. During the break, the employees are free to use this time for their personal duties rather than work. They are not limited to stay within the work premises and may leave to go to other places. However, they must return as soon as this break period is over to continue with their day work.

Describe The Mandatory Rotation Of Audit Firm Accounting Essay

Describe The Mandatory Rotation Of Audit Firm Accounting Essay Introduction From the 2008 financial crisis, the weakness of audit system has exposed in several aspect. European Parliament and public consider that the auditors fail to play during the financial crisis. The European Commission said that the auditors only consider majority of banks had exposed a great quantity of loss from 2007 to 2009 in both on and off balance sheet in the financial crisis, however, it is a hard work for the public and stakeholders to know how the auditors to give the clean auditing reports to their principal. In addition, the European Commission takes into account preventing the concentration in the audit industry, which including restricting the choices and competition. Further, they also consider the independence of the audit firm and the reduction of the expectation gap. All things the European Commission do is to increase the quality of audit, so they think that the current auditing system should be reform. According to KPMG (2012), because of the failure of auditors in financial crisis, the lobby of small firms and the US has taken action on the independent issue. Meanwhile, in order to adapt to the environments, which contain changes to financial reporting and increasing the risk and going concern issue for the companies. The European Commission came up the proposals on 30th November 2011 to address the matters that appeal in the financial crisis and rebuild the confidence of the audit system. The proposals define the role of auditors and propose more restrict provisions for audit firms. It aim at strengthening the independence and professional skepticism of auditors, making the audit industry more diversification, enforcing the regulation, promote the cross-border stipulation of audit services and relieving the burden of the small and medium-size enterprise. To enhance the independence of audit firm and prevent the concentration of the audit industry is the main purpose of the propos als. The Elliott and Jacobson (1998) suggested that audit independence is an absence of interests that create an unacceptable risk of material bias with respect to the reliability of financial statements. The basic goal of audit is to assure the information which provide to shareholders are reliable. Further, as for audit independence, the direct role is to provide auditing serve and make the cost of capital market more efficiently. Consider about preventing the concentration, should make the audit industry more dynamic, such as decreasing the power of the Big Four audit firm (KPMG, Deloitte, Pricewaterhousecoopers and Ernst Young). In addition, the dynamic of audit market give the opportunities for small and medium-size enterprise to benefit from the internal market. In order to strengthen the independence of audit and make the audit market more dynamic, the European Commission brought up the proposals to perfect the audit system, the key elements of the proposals is mandatory rotation of audit firms, mandatory tendering, non-audit services, and European supervision of the audit sector, Enabling auditors to exercise their profession across Europe, Cutting red tape for smaller auditors. This essay is aim at discussing the issue of mandatory rotation of audit firm, one of the key elements to enhance the independence of audit industry. The essay will divided into three parts, firstly, it will describe the mandatory rotation of audit firms; secondly, it will analyses the argument for and against this issue; finally, it will come to a conclusion. Describe the mandatory rotation of audit firm In order to strengthen the auditor independence, the European Commission is considering introducing mandatory external rotation. In the previous years, only internal rotation is required, which means only auditors should be rotated, because they think that auditors may make less suggestions because the routine activities of audit. However, the internal rotation cannot enhance the independence of the auditors, because the audit firm and audited entity build up partnership, no matter which auditors engage in the audit procedure, they have closely relationship, the independence of auditors cannot be enhanced. Therefore, current environment has suggest that the internal rotation is not sufficient, the external rotation should be taken in account to achieve the independence of audit. The proposal required the audit firm should be rotated after at most six years (with some exception). In addition, it should be after at least four year before the same audit firm can be entrusted again by the client, this is stated as the cooling period. The cooling period ensure the mandatory rotation can be implemented effectively, because if there is not the cooling period, the client can entrust the same audit firm after a short time, so that the closely relationship cannot be avoidance. There is a exception that the period of rotation can be extend to nine years if joint audits are engaged. This means that if an audited entity entrust at least two audit firm, it can extent the period of rotation to nine years, because the joint audit can make each audit firm work harder to avoid another audit firm find out their failure, this can increase the quality of the audit, so called four-eye principle. Hence, the joint audit is encouraged. According to Bocconi, which do a survey of the effect of mandatory rotation in Italy. The investigate shows that 69 % of managers of listed companies approve of rotation. 14 % consider it negatively. The survey presents a positive result, because they consider that in previous years, auditors focus on routine activities rather than making improvement. The people including in the survey agree the mandatory rotation in Italy can strengthen the independence. Discussion of the mandatory rotation The argument for the mandatory rotation of audit firm Firstly, the mandatory rotation of audit firm can reduce the risk of familiarity threat. If there is not mandatory rotation, the audit firm may have closely relationship with the audited entity, which would lead to several problems. For instance, the proposal (2011) of the European commission suggests that the audit firm tend to know well about the management of the audited entity, so that they may think the audit work as a routine work, which just repeating the work annually, and they pay less attention to make an improvement and find out the mistake the audited entity made. In addition, the auditor may be less suspicious of the audited entity, instead, they may decrease the difficulties so as to maintain the good relationship with the partner. The long period of engagement will cause routine, which may affect the competence and the quality of audit, hence, the mandatory rotation is necessary for reducing the familiarity threat. Secondly, according to Hoyle (1978), short term engagement will encourage the auditors to do better. If the audit firm fails to make the improvement in their auditing period, however, the next audit firm detects the unreported information, the reputation of the previous audit firm may be affected, so that the auditor will minimize the errors for managing the reputation. Further, the mandatory rotation can avoid the mistake or unreported information continue, because the next audit firm will scrutinize the document provide by the former audit form. Also, the long term engagement of the same auditor may cause the auditor trust the previous auditing procedure, so the rotation can reduce the risk of the auditor regards the engagement as the repetition of the last years work. Therefore, the mandatory can improve the quality of audit. Thirdly, the rotation provide the small and medium-size entities good opportunity to enter the competition in the segment of market. Although, the Bocconi study (2002) showed that the mandatory rotation did not provide the small and medium-size entity opportunity to compete in the audit market, they cannot compete against the large audit firm for the public-interest entities. However, take the mandatory tendering into account, the situation can be changed, the rules allow the small and medium-size entity to bid in the tendering, so that the rotation and joint audit enlarge the choice of audit firm for the audited enterprise. Therefore, combined with the mandatory tendering, the mandatory rotation can encourage the competition of the audit firm and provide more opportunity for small and medium-size entity to enter the audit market. Last but not least, the rotation can reduce the risk of fraud, which the audited entity collude with the audit firm. If both of the audited entity and audit firm fraud the public, when rotation implement, the fraud will be exposed by the coming new audit firm. The scandal of Enron can give a good example of this, if the rotation enact, the deceptive accounting may be found early or the audit firm will not collude with Enron in order to prevent the impairment of the reputation. So the mandatory rotation can reduce the risk of fraud. The argument against the mandatory rotation of audit firm According to the Bocconi study (2002), the opinion the audit firms and managers argue is that the cost of auditing fees as well as man-hours will increase under the mandatory rotation. It takes time for the incoming audit firm to read the sufficient document to know the audited entitys business. If the incoming audit firm do not know the audited entity enough, the quality of audit will decrease. Further, because there are many kinds of industry, it is difficult to maintain the industry specialization and may cause lack of choice of audited entity. According to Chi et al. (2004), they do not agree the mandatory rotation, they hold the opinion that the rotation may have negative impact on the quality of audit. They show the explanation that in the last year of audit before the rotation, the auditors may abandon their independence because they do not need to worry about the loss of quasi rents for they will not be re-elected. These can lead to the decrease of the last periods auditing quality. Bigus and Zimmermann (2007) said that because of the rotation, the quasi rent had been decreased, which implies the rotation may not increase the independence of audit firm. Consequently, the mandatory rotation cannot increase the quality and independence of audit firm as expect. Conclusion When come up the new proposals, there will have different voice because of the different role they play. As for the rule of the mandatory rotation of audit firm, according to the European Commission, the Big Four hold the opposed attitude, they insist there is studies that have certify the mandatory rotation affect the quality of audit firm; the Mid Tier Firms and small and medium-size entities also do not stand by the rule, they consider the increase cost and harm to the quality of audit firm; the investors had divergent opinion; some of public authorities did not favor of the mandatory rotation, while others think the rule will be beneficial, one of the idea regards to the issue they came up it to allow the committee to decide whether the rotation of a firm should be needed. To sum up, the new rule of the mandatory rotation of audit firm may be beneficial, but only under certain situation. For example, the cost of fees and man-hours can be low to change audit firm; the negative impact of last period of audit before rotation can be avoid. So that, the proposal can be beneficial if more detail and rules can be add in to make the mandatory rotation more perfection.

Aunt Jennifers Tigers by Adrienne Rich Essay -- Aunt Jennifers Tiger

Aunt Jennifer's Tigers by Adrienne Rich Who is Aunt Jennifer? Does she even exist? I had to ask myself these questions before even going further into the poem. The answers opened the door to a deeper meaning behind Aunt Jennifer's Tigers. Based on Adrienne Rich's background I believe Aunt Jennifer did exist. However, Aunt Jennifer was not Rich's aunt. Aunt Jennifer represented women all over the world, particularly women in American, who were caught under the oppressive hand of a patriarchal society. Adrienne Rich was perhaps one of those women. Rich, one of the most influential poets of her time, dealt with controversial issues such as sexuality, race, language, power, and women's culture. Her passion in this area forced her to look and challenge the standard and the norm. The popular clichà © that refers to marriage as that old "ball and chain" takes on a more serious meaning with Rich as she reveals, through the simple lines of Aunt Jennifer's Tigers, a woman's struggles with expression, rebellion, and a society where power is defined as masculine. Aunt Jennifer's Tigers by Adrienne Rich Aunt Jennifer's Tigers prance across a screen, Bright topaz denizens of a world of green. They do not fear the men beneath the tree; They pace in sleek chivalric certainty. Aunt Jennifer's fingers fluttering through her wool Find even the ivory needle hard to pull. The massive weight of Uncle's wedding band Sit's heavily upon Aunt Jennifer's hand. When Aunt Jennifer is dead, her terrified hands will lie Still ringed with ordeals she was mastered by. The tigers in the panel that she made Will go on prancing, proud and unafraid. Rich begins her poem with a beautiful picture, setting the scene for the dream wo... ...it through masculine images. Those images were all she had ever known. Aunt Jennifer never got to see women standing strong and proud because they were simply women. She missed out on watching women become astronauts, businesswomen, artists, and policemen. The reason her needlepoint went "on prancing and proud and unafraid" was because the needlepoint represented all things masculine and therefore, had nothing to fear. In the end, Adrienne Rich showed that Aunt Jennifer represented every woman of her time. Ironically enough, she rebels using the oppressor's own language to feel a sense of triumph. Overwhelmed by gender roles, unable to communicate firsthand how they really felt, and torn between rebellion, expression, and society, Aunt Jennifer represses her fears and desires into the exotic tigers which go on living even after the weight of her world buries her.

Art Critque †Mona Lisa Overdose Essay

Using the different elements of art, the artist organized the elements to provoke a feeling of puzzlement and surprise to the audience. The Mona Lisa, being a famous painting, was distorted in a way that it projects a different emotion from the original one. Lorenzana presented the distortion of the proportion and scale of the face of the Mona Lisa in order to evoke a feeling of unsettling disbelief with the visuals of the painting. The change of the Mona Lisa’s face caused a contrast to be present in the artwork. It emphasized the subject’s face and the cigarette presented irony from the original knowledge about the base artwork. Combining all these elements, the artist was able to express the idea of the paining, which is how something clean and subtle, can turn into something mischievous or bizarre. The elements provided the audience a sense of bizarre facial elements on the subject, which caused a subtle, dark, and mysterious tone to be emanated from the painting. Interpretation By Paolo Alilam In this artwork Luis Lorenzana painted a very different Mona Lisa. He depicted a very â€Å"overdosed† Mona Lisa with a stick of cigarette, a bottle of Red Horse, and face with clown-like make up. I think he was just trying to add a little bit of today in something very classic. The normal Mona Lisa shows a very pleasant portrait. Luis Lorenzana’s artworks usually show surrealism or bizarreness. This fact explains this rendition of the Mona Lisa. I think he created this just to show creativity and give people a different taste compared to the usual. Who would imagine Mona Lisa like this anyway? When I look at the artwork I feel a bit weirded-out. For me it’s not such a pleasant artwork. It’s somewhat scary even. But, like I said, he made this artwork just to give people a different taste. â€Å"Do I think there are symbols to the artwork?† Maybe. Maybe Luis Lorenzana likes cigarettes, drinks, and other things like that. Well, I don’t really k now the guy. Another possibility is that when he was painting this he was smoking or drinking. We’ll never know unless we ask him. Judgment By JV Valdez The artwork is a very surrealistic painting. It presents the famous Mona Lisa in some sort of parody in which seems like she’s high on drugs and drunk from drinking â€Å"Red Horse beer†. In my opinion the artist presented a really good distortion of the Mona Lisa. In the original painting of the Mona Lisa she was presented as a demure woman, however the artist distorted that and turned her into a non-conservative drunkard. Based on my personal preferences, I would consider this as a good artwork because I have a preference for artworks that look demented and creepy. However, I don’t think it is an important artwork because I have seen a lot of different artworks trying to do the same distortion with the Mona Lisa as well. I also don’t find the artwork unique in anyway because like I said I have seen other distortions of the Mona Lisa and I view this certain artwork as just one of the many different imitations. All in all I really like this artwork because it has that eerie and demented emotion that it is trying to evoke from viewers, which gives me the creeps every time I look at it.

Word Choice All Together vs. Altogether

Word Choice All Together vs. Altogether Word Choice: All Together vs. Altogether What happens when two words become one? Sometimes, like with â€Å"all right† and â€Å"alright,† both terms mean the same thing. But then we have â€Å"all together† and â€Å"altogether.† These terms have a shared origin, but they have also developed distinct meanings in modern English. How, then, should we use them? And how can you avoid errors in your writing? Let us explain. All Together (All in One Place or All in Unison) Written as two words, â€Å"all together† usually means â€Å"all in one place†: My family and I were all together on vacation last year. A slightly different use is to mean â€Å"all in unison† or â€Å"all at the same time†: Let’s sing a Christmas carol. All together now! We can also separate the â€Å"all† and â€Å"together† in some sentences. For example: All of my family and I were together on vacation last year. Let’s all sing a Christmas carol together! These mean the same as the equivalent sentences above, but they have been restructured. The key factor is that â€Å"all† is a determiner and â€Å"together† is an adverb in all of these sentences. Altogether (Entirely or Taken as a Whole) Written as one word, â€Å"altogether† usually means â€Å"entirely† or â€Å"completely†: I’m not altogether sure you used that word correctly. Another use is to mean â€Å"takes as a whole† or â€Å"all things considered†: Altogether, it was the best Christmas we ever had. Finally, especially in the UK, â€Å"in the altogether† is a slang phrase for being nude. You probably don’t need to know this, as it’s quite rare. But we find the phrase amusing, so we thought we’d share. All Together or Altogether? These terms have developed distinct meanings over time, so make sure not to confuse them. Remember: The two-word phrase all together means â€Å"all in one place† or â€Å"all in unison.† Written as a single word, altogether means â€Å"entirely† or â€Å"taken as a whole.† If you are unsure which to use, try replacing it in the sentence with â€Å"entirely† or â€Å"taken as a whole.† If the replacement fits, â€Å"altogether† will be correct. Otherwise, â€Å"all together† will be correct. And if you’d like any help checking the spelling in your writing, feel free to get in touch.

Prescribe vs. Proscribe

Prescribe vs. Proscribe Prescribe vs. Proscribe Prescribe vs. Proscribe By Sharon Only one letter separates this oppositional pair. To prescribe is to order the use of or set out a rule. From this we get a prescription, which sets out how you are to take a particular medicine. We also get prescriptive grammar, which is grammar that presumes that there is one set of grammatical rules that everyone should follow. In contrast, to proscribe is to forbid, ban or denounce. It originates from the Latin meaning to post in writing and described the 16th century practice of posting public notices about those who had been condemned. To keep the usage straight, think of this. If you are studying at college your set texts are prescribed, while texts that you are not allowed to read are proscribed. Incorrect Usage Some times even large publications get it wrong, like here: Prosecutors have portrayed 57-year-old Martin MacNeill as a lying adulterer who pestered his 50-year-old wife to get a face-lift and persuaded her plastic surgeon to proscribe a mix of potentially lethal pills for her recovery. (USA Today) Correct Usage Some emergency room doctors are far more likely than others even within their own department to prescribe opioids to treat pain in older people, and their patients are at greater risk of using the powerful drugs chronically than those who saw doctors who prescribe them less frequently, according to a large new study. (NY Times) Increasingly, the rules of workplace culture proscribe all sorts of talk about sex, and enforce this proscription with sensitivity training and strategic mention of lawsuits. (NY Times) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:35 Synonyms for â€Å"Look†7 Tips for Writing a Film ReviewAdvance vs. Advanced

BUS305, Competitive Analysis and Business Cycles Mod 3 Case Assignment Essay

BUS305, Competitive Analysis and Business Cycles Mod 3 Case Assignment - Essay Example mage advertising or institutional advertising designed to create public awareness of the citrus industry and to improve its reputation in the marketplace. Because this task is being undertaken by the Department from a tax paid by citrus growers on each box of citrus that moves through commercial channels, there is no need for individual citrus growers and merchants to advertise independently. According to the website, over 80 percent of the Departments annual budget of approximately 58 million dollars is spent on advertising and promotional activities for Florida citrus in the United States, Canada, Europe and Asia. In this sense, then the Department acts as if it were a single corporate entity with numerous divisions or subsidiaries providing homogeneous products. In terms of demand and supply, the purpose of the Department is to regulate and apply standards of production and quality to meet domestic and international demand for Florida grapefruit. It also serves to promote the product through promotions and advertising, as well as to manage issues that arise. The citrus industry of state acts as if it were one single corporate entity managed by the executives of FDOC. In so doing it will seek to gain the best market share possible and endeavor to improve it over the long haul. By competing in the market for the product with other suppliers, the Florida citrus industry through the FDOC seeks to provide the quantity and quality of the agricultural product in the market at competitive prices. According to the Economics Dictionary, the Organization of Petroleum Exporting Countries is an organization of about a dozen nations that sell oil to other nations. It was formed in the early 1960s but had little impact until the oil crisis in 1973. The goal or purpose of OPEC, an international cartel, is to control the production of oil and to establish favorable oil prices for the member nations. Most OPEC countries, such as Libya and Saudi Arabia, are in the Middle

Conduct a PESTEL analysis Essay Example | Topics and Well Written Essays - 750 words

Conduct a PESTEL analysis - Essay Example Concern for global oil consumption in future is attributable to VAT rise in UK, rising oil prices, and a decline in global oil consumption. The increase in VAT has influenced the prices of commodities resulting from crude oil refinement. Economic factors inclusive of wage levels and inflation rates interfere with an organization costs. Consequently, the profit margin for BP is affected as sales lower because of a decline in demand of these derivatives that is attributable to the 2.5% rise in VAT. Clients and manufacturers may not order equivalent amounts of the commodities resulting from crude oil refinement because of affordability. The crude index has revealed considerable rise in oil prices over the past years and is attributable to some certain events including political unrest in Egypt, Iraq and of late Libya, that is the sixth largest producer of oil. BP has invested significantly in crude oil refinement. Additionally, the political imbalance in Egypt led to an increase in price to $ 101 per barrel and ultimately to $105 per barrel after Libya unrest. These events tend to affect oil prices considerably because there is a decrease of operations within these countries and instill an element of panic buying. Additionally, oil prices may be rising but statistically, global oil consumption is ever decreasing. The last decline was in the year 1982. This would support a report similar to the latest decline as apparent in global recessions. Some argued that greener attitudes and immense commitment by political leaders to minimize carbon emissions could also have led to the decline. In 2006, BP profits declined by nearly twenty-five percent compared to the year 2005. Therefore, if the recession continues, it will harm BP’s profits because of a decline in oil consumption (Schroder 2012). BP mainly focuses on utilization of fossil fuels connected with key environmental challenges. Following the controversial rebranding and pledge to