Advantages And Disadvantages Of Shareholder Value Approach Finance Essay

Advantages And Disadvantages Of Shareholder Value Approach Finance Essay Nowadays shareholder value approach reflects to a modern management philosophy, which implies that an organization measures its success by enriching its shareholders. Shareholders or stockholders are individuals or institutions that owns in a legally form shares of a corporation. They are considered to be a subset of stakeholders, which are all individuals or communities, who have a direct or indirect interest in the business entity (e.g. suppliers, customers, government, competitors etc.). The philosophy of the shareholder approach attempts to increase the organizations value by enhancing firms earnings, by increasing the market value of corporations shares and by increasing also the frequency or amount of dividend paid  [1]  . Furthermore according to many business analysts shareholder value approach provides managers with clear mission and it facilitated decision making. Whether is it reasonable or not for the managers and the overall welfare of the organization, this is something, which is analyzed later on the seminar paper. All these objectives, companies strive to achieve, make this value analysis a traditional business measurement used in business today. The idea is that shareholders money should be used to earn a higher return than it could by investing in other assets with same amount of money and risk. It was developed in the 1980s by Alfred Rappaport and it can be used to estimate the value of shareholders Stake in a company or a business unit and also as basis for meeting and evaluating strategic decisions. Furthermore there is a pervasive consensus that managers should strive to maximize shareholder value and by doing so helps the organization to maximize social welfare. According to Hansmann and Kraakman, 2000, most widespread arguments is that corporate managers should act exclusively in the economic interest of shareholders and that the best means to this end, the pursuit of aggregate social welfare, is to make corporate managers strongly accountable to shareholder interest. In fact a precious tool for measuring all the above is the Shareholder Value Analysis, which follows later on the seminar paper, examining also the advantages and disadvantages of its implementation and function. Furthermore will be discussed the financial arguments and the reasonability of the Shareholder Value Maximization as long as relationship between the shareholder value, ethics and social responsibility as well. SHAREHOLDER VALUE ANALYSIS Shareholders value analysis (SVA) is also known as value based management. Its lead by the principle that the management of a company should take into consideration the shareholders interest and advantages before meets any decision, set short-term or long-term objectives and decide companys strategy as well. SVA is a characteristic substitute for trade business measurement, which has improved a lot by time passing. Due to the fact that companys value is calculated based on the value returned to its shareholders, in the past had been criticized for being either short-term measured or only based in past figures. SVA takes a longer-term view and is about measuring and managing cash-flows over time.  [2]  The shareholder value is calculated by estimating the total net value of the company and dividing the figure by the value of shares. Once the value has been calculated the company can set targets and objectives for improvement and measure also its managing performance. For a successful implementation of shareholder value analysis first managers should understand and calculate the organizations shareholder value and gain top management commitment. SVA believes that to assess business performance though maximization of shareholder value is an objective to be accepted by the top management to be achieved and part of the root of the organization. Furthermore managers should identify the key value drivers of the organization and set performance targets providing a framework also with assigning responsibilities to individual managers, reviewing the financial performance of the business and developing strategic plans. To continue with, the approach should be communicated and the staff must be trained. In many case in order to effectively reach the SVA companies are willing to change also the organizations information systems to monitor and measure performance. It is important also to mention that the creation of sustained value will require permanent moni toring and thats mainly the reason for the managers to monitor review progress and refine the targets.  [3]   ADVANTAGES OF SHAREHOLDER VALUE ANALYSIS Shareholder value analysis has as principal that the management of a company should first consider the interest and the advantage of the shareholders, before it meets any decision. The Advantages of Shareholder Value Analysis are performed as follows: It provides a long term financial view on which to base strategic decisions It provides a universal approach that is not subject to the particular accounting policies that are adopted. It is therefore internationally applicable and can be used across sectors It forces the organization to focus on the future and its customers, in particular the value of future cash flows. DISANDVANTAGES OF SHAREHOLDER VALUE ANALYSIS However disadvantages of the shareholder value analysis are performed as follows: Estimation of future cash flows, a key component of SVA can be extremely difficult to complete accurately. This can lead to incorrect or misleading figures forming the basis of strategic decisions. Development and implementation of the system can be long and complex. Management of shareholder value requires more complete information than traditional measures.  [4]   PRINCIPLES AND DECLARATION ABOUT SHAREHOLDER VALUE MAXIMIZATION The commitment of an organization among shareholders is not a theoretical future goal of an organization but is very often stated to the companys mission statement. Usually firms aim at shareholder value creation and maximization when they make claims such us we create value for our shareholders, we want to provide excellent return for our shareholders, and we have a responsibility to our shareholders. Our mission is to remain a strong and independent financial services organization creating value for shareholders, customers, employees and the communities where we do business, while maintaining the highest standards of business ethics. Mission statement, Chemung Canal, Trust company Many academics through the years had an overall perspective that managers should strive to maximize shareholder value and that doing so maximizes social welfare. According to this belief managers should act in the economic interest of their shareholders and thats the fundamental objective of the shareholders. As the shareholder value is difficult to influence directly by any manager, it is usually broken down in components or value drivers, such us revenue, operating margin, cash tax rate, Investment in Working capital, Cost of capital and competitive advantage period.  [5]  Though it is important to mention that quick profit doesnt give return to shareholders; usually competitive advantage takes care of it. If a business choose to sell lower standard products to reduce cost and gain quick profit it may have the danger that its reputation will be destroyed, will lose competitive advantage and the price of its shares will be reduced. Is the shareholder value maximization a healthy defined target for the organizations? Nowadays no country, not even the shareholder-friendly USA has a legal requirement that managers act absolutely in shareholders advantage and in fact the law makes it legal for directors to consider also other interest. Although firm that are willing to have an openly commitment to shareholders seem to do better in comparison with others, there is no case that make shareholders value maximization the societys most desirable corporate target or that competitive markets for goods, capital and labor pressure managers to seek on that specific goal.  [6]   Furthermore, markets are incomplete; meaning that profit maximization is not well defined and possible conflicts of interest cannot be prevented or in many cases resolved. Under this assumption financial researches have shown that stakeholder-oriented firms are usually more successful than shareholder-oriented firms, because market forces are forcing them to do so. What role do market forces play in the shareholder value maximization? Competitive markets are playing a significant role to this argument because they can push managers to act on interest of all stakeholders. Usually they are pushing inefficient firms to cut costs and focus on customer needs rather than shareholders interest. Managers can survive the challenges of competition even though they do not maximize economic profits; but capital markets have this role. It seems that capital markets do not leave managers another way but maximizing shareholders interest and doing so maximizing companys welfare. If investors with many shares of an organization feel that share are going more and more down and start losing money, they may try to take action and influence the decision making, which could mean that managers are risking their jobs. All in all the combination of the different market forces are those, who can affect or even force managers to act in advantage of stakeholders. A mentioned the basic principles of shareholder value maximization are not clearly defined for the market and even if so, are not in many cases reasonable and possible in the real world. Corporate social responsibility is one of the main targets organizations are focusing, because it keeps them competitive and acting in an ethical way can also achieve the maximization of shareholder value. Let us take a closer look to CSR and how can affect the overall shareholder value approach. SHAREHOLDER VALUE AND SOCIAL RESPONSIBILITY How managers and organizations respond to ideas of corporate responsibility is expressed by the idea that organizations have external environment with an interest in, or who are affected by what the organization does. Additional to this are the ethical investors advocating care for the natural environment. With the term ethical investors are mined those people who are investing only in businesses that meet specified criteria of ethical behavior. These stakeholders can affect in a negative way the organization and its environment if they disapprove managers policies among things like: Negative publicity in local and national media Direct action and protests Threats or actual legal action Withholding planning or other permissions necessary for operations If managers can satisfy shareholders expectation they will maintain their support and they will also increase shareholder value. If not investors will flee from unethical companies or those who are not respecting the responsibility among stakeholders, mistreating for example their employees or the environment. Characteristic examples are Nike, Union Carbide and Exxon Mobil. The expectations of the financially centered investors are not only high return on investment but strong corporate responsibility and reputation as well  [7]  . After all corporations have a strong social and environmental impact and role. Businesses need the approval of the society to make profit and as follows to return value to its shareholders. If policymakers, investors and executives want to address corporate responsibility, the corporate governance must be coupled with global corporate social responsibility, which can be defined as business practices based on ethical values and respect for the internal and external environment of the company, such as employees and committees.  [8]   It is important to mention that being social responsible in a proactive way can create an opportunity for the firm to strategically alter production and translate innovation into competitive advantage. This is consistent with Russo and Fouts (1977) who successfully mentioned that environmental management and the associated performance outcome are integral parts of effective management, whereby a pollution prevention policy builds organizational commitment and increase employee productivity and participation. In that way they show also a link between the level of social responsibility and the return on invested shares. Managers dont face a tradeoff between financial performance for the shareholders and eco-efficiency and investors may be able to usefully incorporate environmental information into investment decision.  [9]   However shareholders cannot simply rely on market forces to ensure corporate responsibility because although market has encouraged more and more organizations to act in consideration of social responsibility, market forces have not been sufficient to ensure such a behavior over times. In many case we see that such responsible organizations may have higher costs, which may allow competitors to gain market share. Does a social sustainable environment return value on shareholders? Finally is there any relation between companies on best practices in an ethical way and the returned value on their shareholders? In some cases highly ranked companies do outperform the market (e.g. Filbeck, Gorman and Preece, 1977) while in some other case the returned value on their shareholders is significantly low (e.g. Kolodny, Laurence and Ghosh). Many of the socially responsible studies center among big organizations are performed to diversified stock market indices.  [10]  Many economists do not find statistically significant difference between the earnings of socially responsible funds compared to more traditional funds. In fact many big organizations in India have made a research over the past ten years in order to explore this relationship between dimension of ethics and CSR and shareholder returns. According to National Stock Exchange of India social responsible companies are not expected to perform higher than companies focused only to the economical welfare. CONCLUSION To sum up, shareholder value is something more than a simple organizational approach; its a management philosophy reflecting on the overall firms success, providing managers with a clear mission and facilitating decision making. The most important tool for enhancing this managerial approach is the shareholder value analysis, which gives managers all the principles needed in order to take shareholders advantage into consideration before any decision making and also provides them with practical steps in order to increase firms and investors value from top to the bottom. On the other hand, shareholder value approach often need estimation of future cash flows, which can be very difficult to complete and the development of such a system can be complex for an organization. According to many mission statements of firms, the increasing of shareholders value maximizes social welfare. But this can be reasonable only with the correct strategies and objectives in order to increase profit, gain competitive advantage and consequently return value to the investors; quick profit through lower quality products can damage not only firms reputation but also reduce the price of the shares. Although there are not legal requirements for the organizations in most countries to act in advantage of shareholders interest, and shareholder value maximization is not a clear target for the modern economies, capital markets are the ones which force managers to do so. It is important to mention that this factor is not the most important one for organizations to win competitive advantage, because they mostly have to take under consideration all stakeholders; however is one that could threat their jobs, when investors see their shares undervalued. Closing and adding to all the above external environment is affected in the same way and maybe more in comparison to the internal one. Ethical organizations and those, who are acting on interest of corporate social responsibility and consequently can affect positively the stakeholders (including customers, communities, society etc.), are able to gain ethical investors and maintain their support. For any business action society is the one, which will give the approval to make profit and as follows return value to the shareholders. Shareholder Value Approach is a strategic thinking in modern business management. It shows the balance between competitive advantage, value creation and business strategy. I would like to close this project with a phrase that George S. Day, executive director of the marketing Science Institute Cambridge, successfully generates: For a strategy to win in the marketplace, it must create sustainable advantage; only when a strategy wins in the marketplace can it generate sustained shareholder value.  [11]  

How the Cardiovascular, Respiratory and Digestive System Are Interrelated Essay

The function of the digestive system is to absorb and assimilate key nutrients which are required to maintain and regulate other systems in the body. Enzymes secreted within the digestive system have a role of breaking down food from proteins into amino acids, starch into glucose and fats into a mixture of fatty acids and glycerol. The main function of the respiratory system is to inhale oxygen and exhale the waste product carbon dioxide. Oxygen is breathed through the mouth and nostrils into the lungs. The gas then diffuses through the alveolar walls and into red blood cells (erythrocytes). Carbon dioxide carried back within red blood cells diffuses back through the alveolar walls and is exhaled out through the mouth. The cardiovascular system has a role of circulating blood around the body. The contents of blood being circulated include nutrients, gases and waste products. The main organs involved within this process are blood, arteries, veins, heart and the lungs. How cardiovascular, respiratory and digestive system are interrelated when exercising! When exercising you need Glucose, oxygen and water (H2O). That’s where the digestive, cardiovascular and respiratory system are used. The digestive system dissolves food which provides the water and glucose for the respiratory and cardiovascular system, the respiratory system inhales oxygen which is diffused through the alveolar walls in to the red blood cells and diffuses the carbon dioxide back through the walls to be exhaled, the red blood cells with the water, oxygen and glucose in are pumped through the bodies arteries and veins by the cardiovascular system round the body.

International Trade And Finance ( Bus571 ) - 2452 Words

Ntec Concordia Institute of Business Submitted to: Adrian liew Course: Diploma in Business Management (Level-7) Subject: International trade and finance (BUS571) Submitted By: Amanpreet singh bajaj Student ID:CIB00002YB Assignment: International trade Introduction Quality NZ is a niche supplier of New Zealand’s first quality products and services to the rapidly expanding Indian market, with a specific focus on the food and Beverage, Tourism and Education sectors . Quality NZ has ownership of a number of subsidiaries that represents us in both NZ and India (through our Indian based import Company) there products are all personally selected to ensure only the finest Quality is presented to our customers in india . With the deep passion India’s have for Cricket , Quality NZ is privileged to have Sir Richard Hadlee as our Patron ( and a shareholder ) and Company Ambassadors , Stephen Fleming Daniel Vettori and Brendor McCullana The networks and relationships formed through our cricketing representatives and our Indian based staff provide us with significant credibility to the Indian market.( www.qualitynz.com) www.qualitynz.com Business units and subsidiared :- †¢ Fonterra Brands Consumer goods business †¢ Fonterra Ingredients †¢ Fonterra Global Trade Dairy ingredients supplier to the globally traded market †¢ Fonterra foodservices Hospitality supplies †¢ Fonterra Group Manufacturing Fonterra’s

Essay on Donna Dubinsky at Apple - 1171 Words

Donna Dubinsky and Apple Computer Inc. Recommendations and Findings - The Ultimatum†¨ â€Å"†¦Star performers who have been rewarded for their individual contributions and have come to expect wide latitude in how they work, becoming a manager can be a mixed blessing.† These words aptly describe the career of Donna Dubinsky at Apple Computer. As you will find in this paper, Donna’s case highlights key issues in organizational strategic direction and hierarchical structure; it illustrates power and influence, and the emotional effects of change. Donna Dubinsky was a motivated and hardworking employee but also an elite, who had been accustomed to sole responsibility of the decision-making process in the distribution system. Though she†¦show more content†¦Background Information and Situational Analysis When Donna joined Apple Computer in 1981 the PC industry was experiencing a boom. Apple Computer’s net income had steadily climbed from $39.4 million to $76.7 million in 1983. So also has the company’s market share and operating revenue increased in that time space. Based on these growing numbers, Donna felt there was no problem with distribution. In fact, she believed that her department was an effective contributor to the growth of Apple. However, as Apple’s net income and market share began to drop in late 1984 and into 1985, it was clear the company needed to reevaluate it business strategy. In comes Jobs who wielded a greater positional power compared to Donna’s. Having had the privilege of learning about the distribution process of a competitor, he demanded that Apple follows suit. The Just-In-Time (JIT) process has been known to cut cost by eliminating and/or reducing legacy distribution systems, and Jobs wanted to explore the possibility of the process working at Apple. However, Jobs violated the company values when he failed to create a productive environment around the exploration of the JIT system. Rather than consulting with Donna, he channeled his ideas directly to the CEO, John Scully, and then directed the manufacturing director at Macintosh, Debi Coleman, to prepare a distributionShow MoreRelatedDonna Dubinsky and Apple Computer, Inc.1781 Words   |  8 PagesDonna Dubinsky and Apple Computer, Inc. As companies today strive for success in the market place, it is the efficiency of the top management in the company, which usually determines whether or not they are able to achieve their goals. Many of these goals and values incorporate concepts surrounding quality products and services, innovation, team spirit, and efficient management, just to name a few. However, many times a disconnect in one or more of these areas can cause communication barriersRead MoreDonna Dubinsky and Apple Computer Case Study Essay1656 Words   |  7 PagesDonna Dubinsky and Apple Computer, Inc. Report of Findings and Recommendations Prepared By: Robin Armstrong Table of Contents Background and Scope 3 Current Scenario 4 Situation Analysis 6 Conclusions and Recommendations 8 Background and Scope This report has been prepared for Professor XXX. This report summarizes the complete review of Donna Dubinsky’s career at Apple Computer as the Director of Distribution and Sales Administration and the proposed distributionRead MoreEssay on Dubinsky2266 Words   |  10 PagesDonna Dubinsky and Apple Computer, Inc. Executive Summary Apple Computer was founded in 1976 and, a year later, released the Apple II computer which remained the major-selling product through 1985 In 1983, the company and cofounder Steve Jobs hired John Sculley as president. The Macintosh computer was introduced in early 1984 with impressive first year sales, although it was Apple II sales that carried the firm through the fourth quarter. By 1985, sales failed to reach projected planning levelsRead MoreAn Analysis of the Donna Dubinsky Case2123 Words   |  9 PagesMBA I MORNING DATE:01 12 11 DONNA DUBINSKY AND APPLE COMPUTER, INC Introduction: In Donna Dubisky case, Donna was facing challenge of changing distribution system. She needs to deal with change because it was affecting her at professional level. She has had a promising career at Apple Inc. she had a support from her boss, Ray weaver. The dilemma was that she feels what she is doing is best for company; therefore she was putting her job at risk. Company Background: Apple was a leading PC manufacturerRead MoreDonna Dubinsky3925 Words   |  16 PagesI. Why was Donna so successful during her first 4 years at Apple before the JIT dispute? Dubinsky’s advanced because: (1) her division delivers results, (2) her individual performance is strong, (3) Apple’s environment permits rapid advancement, and (4) her boss helps her. 1. Sales delivered strong results, and Dubinsky was a recognized positive contributor to it. Dubinsky’s group performed well on key metrics including dealer satisfaction,supporting new product launches without delay, and scalingRead MoreSteve Wozniak And The Apple Computer Essay817 Words   |  4 Pagescreated The Apple Computer. They incorporated the company on January 3, 1977 in Cupertino, California. Apple, Inc. is responsible for bringing to market such products as the Macintosh desktop and portable computer, iPod and iTunes, and most recently, the iPhone. What many people may not know is that after founding Apple, Jobs was fired by the company s board of directors 10 years later at age 30. After his termination, he went on to create two more companies. During this period Apple went throughRead MoreEssay on Ideo Case Study2128 Words   |  9 Pagesenlisted the assistance of IDEO to help revolutionize hand-held computing with the design and development of the Palm V. Je ff Hawkins and Donna Dubinsky were 3Com engineers that piloted the Palm V project from concept to market success. Both Hawkins and Dubinsky have resigned from 3Com and have joined a competing company, Handspring. Hawkins and Dubinsky, now employees of Handspring are reaching to IDEO to assist in the design and development of a break out hand-held device that will competeRead MoreEssay on Ideo4004 Words   |  17 Pages IDEO was formed in 1991 by the merger of three established design firms: David Kelley Design, founded by David Kelley; ID Two; and Matrix. The firm provides design, development, and the manufacturing of new products. With clients that include Apple Computer, ATamp;T, Samsung, Philips, Amtrak, Steelcase, Baxter International, and NEC Corporation, IDEO has created thousands of projects that win more industry awards than any other national or international design firm. The firm employs over 550Read MoreHarvard Case Analysis11020 Words   |  45 PagesCongressman Gurcharan Dasï ¼Å' venture capitalist Belmiro de Azevedoï ¼Å' Chairmanï ¼Å' CEOï ¼Å' and co-founder of Sonae; member of the European Round Table of Industrialists John Doerrï ¼Å' leading technology venture capitalist Donna Dubinskyï ¼Å' MBA 1981ï ¼Å' Direct Report of Bill Campbell at Apple Computerï ¼Å' CEO of Palmï ¼Å' Inc.ï ¼Å' and co-founder of Handspring Albert Hamilton Gordon Fred Haiseï ¼Å' former NASA astronaut Christopher Heinz H. John Heinz IIIï ¼Å' U.S. senator æ  °Ã¥ ¤ «Ã‚ ·Ã¤ ¼Å Ã¦ ¢â€¦Ã¥ °â€Ã§â€° ¹Ã¯ ¼Ë†Jeffrey R Immeltï ¼â€°Ã¯ ¼Å'通ç” ¨Ã§â€ µÃ¦ °â€Ã§Å¡â€žÃ¨â€˜ £Ã¤ ºâ€¹Ã¥ ±â‚¬Ã¤ ¸ »Ã¥ ¸ ­Ã¦Å¡ ¨Ã© ¦â€"Ã¥ ¸ ­Ã¦â€° §Ã¨ ¡Å'Ã¥ ®Ëœ

Why Religion Is Good Or Bad Essay - 1621 Words

Religion is constructed on faith and belief of an individual even though it is the individual choice to follow it or not. It has stirred a lot of debates for years; those who are trying to prove that God exists throughout history and follow to modern day. While, those who are atheist are trying to prove their point of God does not exist. There are still more and more theories and debate over the subject of religious view. It is a matter of theism versus atheism; new and old philosophers have joined the debate and all with different sides to another philosopher’s theory or view on the matter. In this paper, I will attempt to illustrate the reasons given by Louis Pojman of why religion is good or bad, as well as evaluating Bertrand Russell argument about religion. This can define the meaning of life and the creation of life as we know it. It can change views or switch sides for there is always another explanation to exactly what religion is all about and having a superior ruler that created all. Furthermore, religion is one topic that can divide people into two sides and it always has been since it was ever brought up. We all have our own religious view others were born into it on the other hand some were not. There are a lot of different religions all over the world but one thing that has in common is the belief of the superior one, the one that started it all. It is hard to convince people to choose for they have their own individual belief or something to believe in.Show MoreRelatedWhy Do Bad Things Happen?953 Words   |  4 PagesWhy do bad things happen to good people? Where does evil come from in the world? Depending on an individual’s faith, this question might be answered numerous ways. Each religion has their own bases as to why there is evil present, even questioning why a good God would allow suffering. There are four main theories that correlate depending on the religious teachings you believe in and why bad things happen to good people. It is human nature to try to figure out the world around us, and understandRead MoreThe Growth Of The Mystery Cult Of Mithraism1664 Words   |  7 Pagesascend to the stars while a punishment is being tortured somewhere underground. It is hard to understand why Mithraism became popular in Ancient Rome or is there is any actual textual evidence that can link the religion origin. All the information gather is derived from depiction on monuments and the limited mentions of the cult in literary sources. We see mention of the cult in the Persian religion Zoroastrianism, he is not mentioned as a god but a s an archangel equal to the god Ahura Mazda. Many haveRead MoreCensorship Is Bad For The Modern World876 Words   |  4 Pages WHY CENSORSHIP IS BAD Censorship refers to the regulation of freedom of expression or any other information that may be sensitive or morally inaccurate to the people. This information can be considered immoral or politically inconvenient by religious groups, the government, ethnic communities and media outlets. Censorship originates back in ancient times in many different countries such as Rome and China. Censorship was mainly used for politicalRead Moreworld view chart writing assignment Eddie Lundy Essay1707 Words   |  7 PagesVIEW of GOOD and EVIL in VARIOUS RELIGIONS Eddie Lundy Paula Hayes World Religions June 8, 2015 Various religions define good and evil in various ways. However, one thing is certain. Since our society has existed, good and evil have also been in existence and many religions see them as two sides of the same coin. Some religions see them as counterparts, one of which focuses on promotion of happiness and the other on everything evil or all that is contrary to happiness. Every religion and mythologyRead MoreWhen Bad Things Happen to Good People Essay994 Words   |  4 PagesWhen Bad Things Happen to Good People When someone does something good, great, amazing; however it is said, a reward is expected. That’s just the way the human brain has been trained in many cultures. People think just that with every good deed that is done. Movies have taught us that the â€Å"bad guy† never wins and that a hero will always triumph in the end. Not so much in the real world. Religious views, daily decisions, and just pure coincidence, if you will, all influence the outcome of a goodRead MoreWar And Religion Has Impacted America1208 Words   |  5 PagesWar and religion has impacted america tremendously. Many people have struggled to live because of the bad things that have come with war and religion. Many things have influenced how people live their lives. The major cause of war is religion because many different religions may bump heads from time to time. The effects of religion is greatly shown in america today. Three article and one printed source will help to show just how much war an d religion has impacted the people of america and the wayRead MoreKarma Essay1422 Words   |  6 PagesBuddhism Have you ever heard someone say â€Å"what goes around comes around?† Many religions believe in Karma. Karma means a deed or an act. The three major religions that believe in Karma are Sikhism, Hinduism, and Buddhism. These three religions share somewhat the same views and beliefs on Karma. These three religions believe that human beings spend their time in a cycle of birth, life, and rebirth. Every mainstream religion teaches us about the consequences of our actions. The explanations may differRead MoreIn James Rachels’ Book, The Element Of Moral Philosophy,858 Words   |  4 Pagesbetween morality and religion. Mostly, when thought about morals, religion is mention. Religion is almost all about morals. Directing what is wrong and right. Divine Command Theory is morality relationship between God (gods) and the people. God (gods) orders the meaning of good and the bad. People need to follow the rules to receive blessings from their creator. The Theory of Natural Law, e verything has it purpose. If it is against nature, then it is wrong. Moral standards in religion are backed withRead MoreThe Questioning of God and the Loss of Faith in Religion through Ecclesiastes1472 Words   |  6 PagesSearching for the meaning of life, people constantly question religion. What is our purpose? Why are we here? What is the meaning of our lives? In the third century BC people saw their lives falling apart; they wanted a new meaning of religion. During this time the Temple was destroyed, which will be explained further on. The destruction of a significant religious figure such as the Temple causes people to question the purpose of religion, especially if it is going to fail them. Ecclesiastes suggestsRead MoreReligion Is A Very Diverse Centre Of Beliefs Essay1416 Words   |  6 PagesReligion is a very diverse centre of beliefs that humans have had for thousands of years. It has influenced actions and events in history on a monumental scale. Religion has created culture, countries, and most importantly, our morals. What defines religion is a spiritual belief that a group of people have. With all the good religion has created in this world, it’s like comparing 100 good deeds with their 100 bad counterparts, the good is always outweighed by evil. Religion is usually recognized

Some Beneficial Features of the Unix Operating System Free Essays

Some Beneficial Features of the UNIX Operating System CIS 155 Some Beneficial Features of the UNIX Operating System Safety issues have always been one of the major aspects of effective operation of human beings and systems invented and implemented by individuals all over the world in different periods of human history. The rise of the personal computer in the market is another potential threat; nowadays this threat comes from the internet through computers and other devices. As stated in the study by Garfinkel, Spafford, and Schwartz (2011), â€Å"in today’s world of international networks and electronic commerce, every computer system is a potential target† (p. We will write a custom essay sample on Some Beneficial Features of the Unix Operating System or any similar topic only for you Order Now 3). Computers and servers store information that can be damaged or retrieved by hackers that are not interested in keeping the operating system safe and sound. As such, the UNIX operating system can be considered one of the safest for your network activities with a minimum threat to your operating system and the computer in general. Benefits of the UNIX Operating System There are many benefits of the UNIX operating system when viewed independently or in comparison with other operating systems. It is natural that UNIX has supporters and those who oppose the use and benefits of this OS. Nevertheless, everything depends on the purposes for which the operating system is installed and the activities for which it operates. In other words, the scope of commands makes UNIX one of the cheapest and compatible operating systems on the market (Afzal, 2008). With the option of being installed on any type of hardware regardless of the brand and price, UNIX is a viable option for any information technology professional. In addition, it is important to mention that UNIX became the basis for other operating systems generally referred to as the UNIX-like ones as they use UNIX codes and are rather competitive compared to non-UNIX-like systems (Afzal, 2008). Simplicity and Origins The UNIX operating system became one of the first attempts of the information technology age to make the computer popular among average users. The contribution was made in the form of this beneficial operating system that helps people all over the world get access to the internet and surf the web for hours without being under threat of getting a virus or damage to software. It is simple and user-friendly compared to other operating systems. One of the examples of simplicity in UNIX is the Simple Mail Transfer Protocol (SMTP), â€Å"an Internet standard for transferring electronic mail between computers [implemented by UNIX] with programs or systems called Message Transfer Agents† (Garfinkel, Spafford, and Schwartz, 2011, p. 347). The overall simplicity of the UNIX operating system can be traced in all its utility programs and other supportive agents that help the system to operate effectively without application of complicated schemes and codes. In other words, the simplicity of the system makes it attractive for programmers and people working with codes and programs to be written (Afzal, 2008). So, simplicity, toolbox, democratic approach, flexibility and stability, as well as virtual memory and cheap hardware are the basis for making this operating system an attractive solution for people that need a good and reliable OS for their personal or professional purposes. Open Standards and Portability The open standards and cross-platform portability of the UNIX operating system is another great beneficial feature of this operating system. As stated in the study by Liu, Yue, and Guo (2011), â€Å"since most of the networking protocols were initially implemented on UNIX and most of the Internet services are provided by server processes running on the UNIX operating system, UNIX has a fundamental and profound influence on computer networking† (p. 316). The impact of UNIX on the development of other operating systems and the overall progress of information technology so far has been undeniable. However, it is necessary to emphasize the applicability of this operating system to a small number of computers due to the users’ preferences. Different types of machines can be considered valid for the UNIX operating system, because it is treated as highly portable. Various computing machines can host UNIX, which would be only advantageous for them. The UNIX operating system was not coined for the expensive machines with the hardware changing every six months or less and upgrades available for even higher prices. Its flexibility and cross-platform portability make it an integral part of the democratic approach used by the creators of the operating system. Main-frame and micro-computers can benefit from the UNIX operating system and all its features (Afzal, 2008). Stability of the operating system is another beneficial feature that can be treated as a competitive advantage compared to other systems, such as Windows, with regard to maintenance and related procedures. Security features as well as processing power can also be treated as beneficial features of the UNIX operating system, especially when compared to other operating systems. Prerequisite software is something pertaining to all operating systems except the UNIX operating system, because it does not require additional upgrades in terms of hardware and software being absolutely cheap in maintenance and administration (Afzal, 2008). Besides, users can use UNIX on the cheapest and simplest hardware regardless of the brand. Most effective operating systems operate on the codes designed and introduced to the market by ATT that created UNIX and contributed positively to the development of personal computers. The UNIX operating system is aimed at solving problems in the field of information technology: It uses simple tools, agents, and codes that are free of charge and helps the users operate effectively and safely on this basis (Afzal, 2008). Application programs compared to the simple tools by UNIX are too complicated to be beneficial for users and the overall effective performance of the system. The memory of the UNIX system is protected and considered to be as secure as the overall operating system and the number of programs that can be launched with no threat or compromise to other running programs in the same instance (Afzal, 2008). The benefits of the virtual memory should be described in another section, whereas it is necessary to mention that UNIX security, customization, and controls options make users select this operating program out of dozens of other existing ones. Open standards enable the UNIX operating system to share its codes and achievements with the users and other developers. As stated in the study by Raymond (2004), â€Å"Unix is still the only operating system that can present a consistent, documented application programming interface (API) across a heterogeneous mix of computers, vendors, and special-purpose hardware† (p. 8). Moreover, no other operating system can compare to its applicability and open standards as well as its cross-platform portability. Along with all other advantages of this OS, open standards attract more users that can value the portability of UNIX and its simplicity. Virtual Memory, Toolbox, and Customization The benefits of the UNIX operating system are numerous with the virtual memory and customization options as well as the authorization procedures and the general security of it all. So, the virtual memory of the UNIX operating system is on the high level: Low or medium levels of physical memory cannot compromise the virtual memory of the operating system (Afzal, 2008). So, users can launch many programs at once with no threat to the performance of the UNIX OS. The resources of the system are capable of running many programs being active which will not make the work of the entire system less effective. In other words, more complicated and proficient tasks can be performed with the help of other commands and utility programs combined in the framework of UNIX (Afzal, 2008). Files are unified to make the operation of UNIX more efficient in terms of times needed to respond to commands and costs necessary to upgrade the overall system. As such, all types of data and devices are identified by UNIX as files, making it better and more appropriate for different purposes. Access to the computer is reached only via application of valid passwords and keys that are aimed at making UNIX rather protected and security-based (Afzal, 2008). Authentication is another tool that helps the system to operate effectively. Accounts and their owners are subject to the owner of the personal computer with the UNIX operating system to decide whether he or she wants anyone else to use the computer or not. The toolbox is designed in a way that makes the operations fast and efficient. Utility programs and commands are used to perform specific tasks; so, they are created for very particular purposes. This approach is contrasted to the one when commands and utilities serve for a variety of complicated tasks rather than simple ones. In other words, the UNIX operating system can be referred to as a box with all necessary tools that carry out their tasks in a corresponding manner (Afzal, 2008). Customization enables the users to adjust the system to their needs and purposes without being designed for particular settings and menus. As such, a user owning the UNIX operating system can change the options and settings unlike the user of other operating systems with pre-configured settings. Overall, the UNIX operating system is used all over the world due to the approach selected by its developers: they made it a free-access tool that can be used by any individual that has a personal computer and needs an operating system. Main-frame computers and mini-models of personal PCs can operate on UNIX without visible or invisible threats to their effectiveness. It can be used on different platforms regardless of their origin and compatibility. UNIX is a well-documented system with everything stocked within that a user would need. References Afzal, A. (2008). CIS155: UNIX Operating System: Custom edition (5th ed. ). Upper Saddle River, NJ: Prentice Hall/Pearson Custom Publishing. Garfinkel, S. , Spafford, G. , Schwartz, A. (2011). Practical UNIX and internet security (3rd ed. ). Sebastopol, CA: O’Reilly Medis, Inc. Liu, Y. , Yue, Y. , Guo, L. (2011). UNIX operating system. Beijing: Springer. Raymond, E. S. (2004). The art of UNIX programming. Boston, MA: Addison-Wesley Professional. How to cite Some Beneficial Features of the Unix Operating System, Papers

None Provided15 Persuasive Essay Example For Students

None Provided15 Persuasive Essay The Scientific Revolution brought many new ideas and beliefs not only to Europe but the entire world. The most widely influential was an epistemological transformation that we call the Scientific Revolution. In the popular mind, we associate this revolution with natural science and technological change, but the scientific revolution was, in reality, a series of changes in the structure of European thought itself: systematic doubt, empirical and sensory verification, the abstraction of human knowledge into separate sciences, and the view that the world functions like a machine. These changes greatly changed the human experience of every other aspect of life, from individual life to the life of the group. This modification in worldview can also be charted in painting, sculpture and architecture; you can see that people of the seventeenth and eighteenth centuries are looking at the world very differently. The Scientific Revolution brought about many changed in both biology and astronomy . The former was concerned with the basics of physiology and anatomy; the latter was concerned with the issue of the solar system. These (and other) developments tended to proceed along independent lines until the great scientific academies of the 18th century both brought them together and helped spread their findings to the rest of society. Copernicus was a man who played a significant role in this revolution. Before Copernicus was the Ptolemaic system. Ptolemys model of the universe was accepted throughout the middle Ages, though not without revision. His model was a little ragged at the edges and more accurate observations revealed discrepancies, particularly in regard to the movement of the planets. Using tables based on Ptolemys model, medieval astronomers made predictions regarding the position of this or that planet and the planets did not show up on time. Even Ptolemy had known that the simplest model, which had each planet moving in a circular orbit about the Earth. To com pensate, he invented the notion of epicycles; that is, a circular orbit whose center in turn moved in a circular orbit. For example, Venus did not move directly around the Earth, but rather moved in its own orbit. The center of this orbit, however, did move around the Earth. Everything moved in perfect circles, of course, because a circle was a perfect shape and Heaven was a place of perfection. However many question arose about this theory. By the later middle Ages, increasingly accurate observations had led to increasing elaborations of Ptolemys systems. Epicycles were added to epicycles until the planets were clanking about in a ludicrous contraption of scores of intersecting circles. Many among the learned were uncomfortably aware that the situation was downright embarrassing. With as many as 200 and more epicycles wheeling about, the whole system was looking less and less divine. The invention of accurate timekeeping devices was, by the 15th century, badly fraying the fabric of the Ptolemaic universe. (Shapin)The first bold step in the Scientific Revolution was taken by Nicolaus Copernicus (1473-1543). In De Revolutionibus Orbium Coelestium, published in the year of his death, Copernicus suggested a new explanation of the apparent motions of heavenly bodies. Following the hypothesis of Aristarchus, Copernicus put the sun in the center of the motionless sphere of the fixed stars and had the planets (including the earth) move in concentric circles around it. The moon circled the earth, which rotated around its own axis and also slowly changed the direction of its axis. The heliocentric system of Copernicus challenged (and eventually replaced) the Ptolemaic system that had stationary earth as its center. The heliocentric theory gave modern astronomy a new direction but it did not remove the complexity that cumbered the Ptolemaic system. To reconcile the circular and uniform planetary motion with the available observational evidence, Copernicus also had to am end his system with epicycles and eccentricity of the planets orbits in relation to the sun (Jeans, Growth 128-29). The real significance of the heliocentric system lay in the long-term changes, which it effected. Major upheavals in the fundamental concepts of science, occur by degrees. The work of a single individual may play a preeminent role in such a conceptual revolution, but if it does, it achieves preeminence either because, like De Revolutionibus, it initiates revolution by a small innovation which presents science with new problems, or because like Newtons Principia, it terminates revolution by integrating concepts deriving from many sources (Copernican Revolution 182). The Copernican exposition of celestial mechanics may appear less impressive than the Newtonian, but without one the other would not have been possible. The Copernican theory was solidified and advanced in the work of Tycho Brache and Johannes Kepler. Tycho Brache (1546-1601) did not accept the heliocentric model of the universe, but through his work he contributed to its refinement. An excellent observer, he made new instruments, which significantly improved the accuracy of angular measurement, and then devoted most of his life to constructing new, precise planetary tables (Hull 132-33). Kepler, who became Tychos assistant in his youth, completed the task and published the new tables after Tychos death. In contrast to his teachers preference for observation, Kepler had a theoretical slant and a strong belief in mathematics. Like many of the ancient Greeks, he assumed that celestial bodies must move according to simple geometrical laws, which could be discovered (Jeans, Growth 165). After decades of painstaking and frustrating investigation of the planets orbits and velocities, he finally succeeded in proving his assumptions. In 1609 he announced that the orbit of Mars is an ellipse with the sun at one focus, and that the planets velocity changes in such a way that the line joining Mars to the sun covers equal areas of the ellipse in equal times. In the following years, Kepler extended these laws to the other planets and formulated a third law which stated that, for all the planets, the square of the periodic time is proportional to the cube of its mean distance from the sun (Hull 136-37). Keplers discovery was as important for the development of science as the work of Copernicus, in spite of its apparently limited, technical character. The achievement of Copernicus was revolutionary in content, but not so in method. All the main propositions of De Revolutionibus were based on ancient authority. Copernicus had the sense to give the heliocentric concept serious consideration and the mathematical skill to develop it in detail, but he never questioned the Greek assumption that celestial geometry must be based on t he figures of sphere and circle because of their supposed perfection (Hull 128). He was a typical Renaissance man, freed from the oppressive authority of the church, but unable to sever himself from dependence on the authority of the classics which brought him that freedom. Kepler, on the other hand, represented a truly modern scientific spirit. He was the first to introduce important scientific notions for which there was no ancient authority (Hull 135). With his discoveries, Kepler gave modern science a spirit of independence, a sense of freedom from any preconceived notions, regardless of the authority, which might stand behind them. He thus further strengthened the belief in the power of human intellect as a primary means of learning to understand the world. Isaac Newton was a man who took all of these ideas, and wrote them out mathematically. Newtons synthesis was just brilliant. Newton was secretive, petty and vindictive. He was also a genius. This meant that all of his brilliant achievements were conceived alone. He worked intensively on problems being debated within Europes scientific community. One problem concerned planetary orbits. Relying on their own observations, astronomers such as Copernicus, Galileo and Kepler determined that the natural (inertial) motion of planets was circular or elliptical. Basing his theory purely on logic, he insisted that the natural motion was a straight line. Newton began tackling this problem with the assumption that planetary orbits were elliptical (as Kepler had maintained). This meant that he could not make his calculations with Euclidean geometry, which provided formulas for only regular shapes, such as circles, squares and triangles. He therefore developed calculus a major breakthrough in the h istory of mathematics. Newton did not want to share his invention with anyone else. So he made his discoveries with calculus but wrote them out in the conventional mathematics of his time. His first rough calculation set the moons orbit time at 27.25 days just about the exact time Newton had uncovered a law of nature that was both universal and susceptible to mathematical calculations. This discovery would fundamentally alter the way human beings viewed themselves and the universe in which they lived. With his work, Newton made the natural world seem knowable to those who employed the scientific method of observation, experimentation and calculation. (Shapin)Galileo was also a huge contributor to the Scientific Revolution. His scientific successes were due to his ability to make what some historians have called thought experiments. Galileo also contributed to the development of the scientific method. He was drawn to the system of Copernicus and Kepler because they made use of geomet ric reasoning. Galileos preference for mathematical calculations to knowledge derived only from his senses does not mean that he never made us of observation. Indeed, he was the first to use a telescope in astronomical work. The first telescope was made in Holland, by a Dutch lens maker who hit on the idea of putting two lenses at each end of a tube and looking through it. Galileo read about this invention in a letter and forthwith built his own. He ground his own lenses, constructed his own tube, and produced a telescope with a power of magnification of about 10 more than twice as powerful as the one the Dutch had made. That Galileo could do this after merely having read a description of the device is a testament to his skill as a craftsman. Galileo built his telescope in 1610 when he was living in Venice. The first thing he did with his invention was tried to make money from it. Galileo soon had orders to build more telescopes. Had he done only this, he would have been known as a great inventor. But he went further. He pointed his telescope up to the night sky, and what he found there changed the scientific world forever. He studied the moon and found that it was composed of the same substances as the earth and that it produced no light of its own, but only reflected rays from the sun. He turned his telescope on the sun itself and saw that it had spots. The sun was not a perfect substance and since the spots moved, the sun rotated on its axis in the same direction as the planets moved in their orbits. He found the four satellites of Jupiter and saw that they revolved around the planet. These discoveries conformed his belief in the heliocentric system and suggested that other heavenly bodies had the same properties as the earth. The Scientific Revolution was the single most important factor in the creation of the new worldview of the eighteenth century Enlightenment. Many ideas were brought into light that changed views and perceptions of the world. The most important idea of the enlightenment was that the methods of natural science could be used to examine and understand all aspect of life. This is what the intellectuals meant reason. Nothing was to be accepted on faith. Everything was to be submitted to the rational, critical, scientific way of thinking. However this brought the Enlightenment into a conflict with churches, which rested their beliefs on authority of the Bible and Christian theology. Another key of the enlightenment was the scientific method was capable of discovering laws of human society as well as those of nature. This led to the birth of social science. This led to that of progress. With the skills needed to discover laws of human existence, Enlightment thinker believed it was possible for humans to create better societies and people. Therefore the enlightenment was secular. It revived and established the Renaissance on worldly ideas. Enlightenment in return had a huge effect on the culture and thought of urban mid dle classes and aristocracy. However it did not appeal to the poor and peasants. These groups were confident in old popular beliefs that enlightenment was trying to change. Benedict Arnold EssayThe Copernican theory was solidified and advanced in the work of Tycho Brache and Johannes Kepler. Tycho Brache (1546-1601) did not accept the heliocentric model of the universe, but through his work he contributed to its refinement. An excellent observer, he made new instruments, which significantly improved the accuracy of angular measurement, and then devoted most of his life to constructing new, precise planetary tables (Hull 132-33). Kepler, who became Tychos assistant in his youth, completed the task and published the new tables after Tychos death. In contrast to his teachers preference for observation, Kepler had a theoretical slant and a strong belief in mathematics. Like many of the ancient Greeks, he assumed that celestial bodies must move according to simple geometrical laws, which could be discovered (Jeans, Growth 165). After decades of painstaking and frustrating investigation of the planets orbits and velocities, he finally succeeded in proving h is assumptions. In 1609 he announced that the orbit of Mars is an ellipse with the sun at one focus, and that the planets velocity changes in such a way that the line joining Mars to the sun covers equal areas of the ellipse in equal times. In the following years, Kepler extended these laws to the other planets and formulated a third law which stated that, for all the planets, the square of the periodic time is proportional to the cube of its mean distance from the sun (Hull 136-37). Keplers discovery was as important for the development of science as the work of Copernicus, in spite of its apparently limited, technical character. The achievement of Copernicus was revolutionary in content, but not so in method. All the main propositions of De Revolutionibus were based on ancient authority. Copernicus had the sense to give the heliocentric concept serious consideration and the mathematical skill to develop it in detail, but he never questioned the Greek assumption that celestial geom etry must be based on the figures of sphere and circle because of their supposed perfection (Hull 128). He was a typical Renaissance man, freed from the oppressive authority of the church, but unable to sever himself from dependence on the authority of the classics which brought him that freedom. Kepler, on the other hand, represented a truly modern scientific spirit. He was the first to introduce important scientific notions for which there was no ancient authority (Hull 135). With his discoveries, Kepler gave modern science a spirit of independence, a sense of freedom from any preconceived notions, regardless of the authority, which might stand behind them. He thus further strengthened the belief in the power of human intellect as a primary means of learning to understand the world. Isaac Newton was a man who took all of these ideas, and wrote them out mathematically. Newtons synthesis was just brilliant. Newton was secretive, petty and vindictive. He was also a genius. This meant that all of his brilliant achievements were conceived alone. He worked intensively on problems being debated within Europes scientific community. One problem concerned planetary orbits. Relying on their own observations, astronomers such as Copernicus, Galileo and Kepler determined that the natural (inertial) motion of planets was circular or elliptical. Basing his theory purely on logic, he insisted that the natural motion was a straight line. Newton began tackling this problem with the assumption that planetary orbits were elliptical (as Kepler had maintained). This meant that he could not make his calculations with Euclidean geometry, which provided formulas for only regular shapes, such as circles, squares and triangles. He therefore developed calculus a major breakthrough in the h istory of mathematics. Newton did not want to share his invention with anyone else. So he made his discoveries with calculus but wrote them out in the conventional mathematics of his time. His first rough calculation set the moons orbit time at 27.25 days just about the exact time Newton had uncovered a law of nature that was both universal and susceptible to mathematical calculations. This discovery would fundamentally alter the way human beings viewed themselves and the universe in which they lived. With his work, Newton made the natural world seem knowable to those who employed the scientific method of observation, experimentation and calculation. (Shapin)Galileo was also a huge contributor to the Scientific Revolution. His scientific successes were due to his ability to make what some historians have called thought experiments. Galileo also contributed to the development of the scientific method. He was drawn to the system of Copernicus and Kepler because they made use of geomet ric reasoning. Galileos preference for mathematical calculations to knowledge derived only from his senses does not mean that he never made us of observation. Indeed, he was the first to use a telescope in astronomical work. The first telescope was made in Holland, by a Dutch lens maker who hit on the idea of putting two lenses at each end of a tube and looking through it. Galileo read about this invention in a letter and forthwith built his own. He ground his own lenses, constructed his own tube, and produced a telescope with a power of magnification of about 10 more than twice as powerful as the one the Dutch had made. That Galileo could do this after merely having read a description of the device is a testament to his skill as a craftsman. Galileo built his telescope in 1610 when he was living in Venice. The first thing he did with his invention was tried to make money from it. Galileo soon had orders to build more telescopes. Had he done only this, he would have been known as a great inventor. But he went further. He pointed his telescope up to the night sky, and what he found there changed the scientific world forever. He studied the moon and found that it was composed of the same substances as the earth and that it produced no light of its own, but only reflected rays from the sun. He turned his telescope on the sun itself and saw that it had spots. The sun was not a perfect substance and since the spots moved, the sun rotated on its axis in the same direction as the planets moved in their orbits. He found the four satellites of Jupiter and saw that they revolved around the planet. These discoveries conformed his belief in the heliocentric system and suggested that other heavenly bodies had the same properties as the earth. The Scientific Revolution was the single most important factor in the creation of the new worldview of the eighteenth century Enlightenment. Many ideas were brought into light that changed views and perceptions of the world. The most important idea of the enlightenment was that the methods of natural science could be used to examine and understand all aspect of life. This is what the intellectuals meant reason. Nothing was to be accepted on faith. Everything was to be submitted to the rational, critical, scientific way of thinking. However this brought the Enlightenment into a conflict with churches, which rested their beliefs on authority of the Bible and Christian theology. Another key of the enlightenment was the scientific method was capable of discovering laws of human society as well as those of nature. This led to the birth of social science. This led to that of progress. With the skills needed to discover laws of human existence, Enlightment thinker believed it was possible for humans to create better societies and people. Therefore the enlightenment was secular. It revived and established the Renaissance on worldly ideas. Enlightenment in return had a huge effect on the culture and thought of urban mid dle classes and aristocracy. However it did not appeal to the poor and peasants. These groups were confident in old popular beliefs that enlightenment was trying to change. Overall the scientific revolution has transformed Europeans and their perception of the world. Europeans as well as others began to venture to other countries, trade and develop new social groups. It improved navigation, which in return facilitated overseas trade and helped enrich leading merchants. In another aspect some people had change of views when it came to religion and their beliefs on the world and what they believed in. This revolution I believe had few consequences for economic life and living standards of the people. The revolution was a significant period in time that showed points in social, economical, religion, and educational points in that era. Overall it was a benefit to that era and the time we live in today. Bibliography: