Why do organizations preferred debt capital over equity capital - Free Essay Example

Sample details Pages: 4 Words: 1302 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The purpose of any research should be very clear and should arrive at an objective. As it is said by McDaniel and Gates (2006), targeted statements that delineate the exact information needed to solve a research problem. Therefore it is necessary to define the objective of research. Don’t waste time! Our writers will create an original "Why do organizations preferred debt capital over equity capital" essay for you Create order The objective of this study is to set out the capital requirements in such a proportion that can add value to any organization in either in debt or equity. The proportion should be in a way that should meet the capital requirement and that also can reduce the tax in comparison with dividend to save it. Another aspect of this research is that the structure is also in a way that also not affected the shareholders interest in the organization. In other words the investment opportunities should be there in order to utilise the share value in the financial stock market. Research Approach Does an optimum liability and equity structure exist, in other words, a combination of  that would allow a maximization of the value of the economic assets for the shareholders? Or, does a totally reliable financial structure such as the WACC is as low as possible? Traditional Approach According to the traditional approach, an optimal financial structure does exist, which will allow the company to maximize its value through the right amount of debts and financial leverage. The company minimizes its  HYPERLINK https://www.ecofine.com/strategy/wacc.htmWACC, in other words, the cost of financing. The cost of debt is lower than the cost of equity (Kd Ke) as there is less risk. From that standpoint, any increase in debt will reduce the  WACCHYPERLINK https://www.ecofine.com/strategy/wacc.htm. However, increasing debts creates a higher risk for shareholders. The market will therefore require a higher Ke. The more the company borrows, the higher the rate of interest as the risk increases. The optimal structure is therefore one in which the WACC is minimal. At this rate, the value of the company is maximized. (ecofine.com 2010) In order to achieve the above objective, the approach used in the research is should be vital. Study of both quantitative and qualitative aspects will be taken into account. The approach will lead the research into the point of discussion that whether the IBM capital structures in the ideal structure that meet both the requirements if yes than the research is positive if not then what could be the exact structure that can get the desired result. In order to achieve the goals IBM should change their structure that could be possible by issuing new share capital or by increasing the debt finance ratio to get the tax shield and to increase their share value in the stock market. Literature Review When a corporation receives money or property in exchange for capital stock (including treasury stock), neither Gain nor loss is recognized by the corporation. Nor does a corporations gross income include shareholders contributions of money or property to the capital of the corporation. Moreover, additional money or property received from shareholders through voluntary pro rata transfers also is not income to the corporation. This is the case even though there is no increase in the outstanding shares of stock of the corporation. The contributions represent an additional price paid for the shares held by the shareholders and are treated as additions to the operating capital of the corporation.25 Contributions by non shareholders, such as land contributed to a corporation by a civic group or a governmental group to induce the corporation to locate in a particular community, are also excluded from the gross income of a corporation.26 However, if the property is transferred to a corpor ation by a non shareholder in exchange for goods or services, then the corporation must recognize income. Significant tax differences exist between debt and equity in the capital structure. The advantages of issuing long-term debt instead of stock are numerous. Interest on debt is deductible by the corporation, while dividend payments are not. Further, loan repayments are not taxable to investors unless there payments exceed basis. A shareholders receipt of property from a corporation, however, cannot be tax-free as long as the corporation has earnings and profits. Such distributions will be deemed to be taxable dividends to the extent of earnings and profits of the distributing corporation. E X A M P L E: Mr XYZ transfers cash of  £10,000 to a newly formed corporation for 100% of the stock. In its initial year, the corporation has net income of  £4000. The income is credited to the earnings and profits account of the corporation. If the corporation distributes  £950 to Mr XYZ, the distribution is a taxable dividend to Mr XYZ with no corresponding deduction to the corporation. Assume, instead, that Mr XYZ transfers to the corporation cash of  £5000 for stock and cash of  £5000 for a note of the same amount. The note is payable in equal annual instalments of  £500 and bears interest at the rate of 9%. At the end of the year, the corporation pays Mr XYZ interest of  £450 ( £5000 ÃÆ'Æ’- 9%) and a note repayment of  £500. The interest payment is deductible to the corporation and taxable to Mr XYZ. The  £500 principal repayment on the note is neither deducted by the corporation nor taxed to Mr XYZ. Reclassification of Debt as Equity (Thin Capitalization Problem) Institutions where the corporation is said to be thinly capitalized, the IRS contends that debt is really an equity interest and denies shareholders the tax advantages of debt financing. If the debt instrument has too many features of stock, it may be treated for tax purposes as stock. In that case, the principal and interest payments are considered dividends. The tax advantages of financing a corporation with some debt are clear and beyond question. In fact, debt is so advantageous from a tax perspective that some corporations overdo it. Nonetheless, some well-known, successful corporations choose to operate without long-term debt. Microsoft, Walgreen, and Cisco Systems apparently have decided that the nontax advantages of avoiding debt (e.g., not having to contend with debt service costs) outweigh the tax advantages of using debt. Such debt-free companies may be the envy of corporations that have relied on debt, perhaps excessively, as a means of financing growth (e.g., US Air ways and WorldCom). In some cases, corporate debt does little to enhance a shareholders investment and may even destroy it. Methodology Methodology explains the research plan, it discusses the advantages of data collected and it also forms the base of formatting hypothesis and regression. However, this part of research focuses on the collection method and also explains the right kind of technique and methods used to analyse the data in this study. The most important source of data collection in my research will be secondary but the primary data will also be included. As the research question is why organizations prefer debt finance rather than equity finance? So from this the methodology is very simply based on the comparison. The study will be designed in a way that some advantages and disadvantages of both the financing options will be defined in order to drive at a conclusion which would lead the organization in a way that the organization will get all the benefits of tax shield and the dividend reduction but improvement in the share value to give an opportunity and value to their shareholders. There are d ifferent ways of research, however i will try to obtain both primary and secondary data, primary data will be obtained by emailing the questioners to the managers and other people related to this field and also a survey in London which would enable me to gather information which could help in understanding the policy and strategies of the organization in the same field, in order to see the whole pictures with a wider range.

Media s Influence On Society - 1293 Words

Media is a major contributor of how social groups are perceived in today’s society. Mediais around us every day almost all day, and it constantly sends messages about the world’s environment. There are many indicators shown pertaining to how media really affects society. One of the most prominent explanations of those questions is the way media influences stereotypes. There has been previous research linking media sources and biased attitudes. This research paper explores articles supporting media as an influence of stereotypes. The perceptions of society are influenced by media. The media influences perception in many different aspects of life. Stereotypes act as cognitive schemas, used to help us process and organize information about the social world. They help us to separate and group others as we strive to make predictions and interpretations about others. One of the most common cognitive processes associated with stereotyping is social categorization. Social cate gorization is the tendency to classify people into groups. Other sources of stereotypes are in-group/out-group categorization, which place individuals in categories based upon who may be similar to us, versus who is not. Negative stereotypes can lead to prejudice and discrimination, which demonstrates the unjust attitude, or unjustified negative behaviors toward members of other social groups. The generalizations can be negative, positive, or neutral. Stereotypes influence the way we perceive others and alsoShow MoreRelatedThe Media s Influence On Society1462 Words   |  6 PagesThe media s the most powerful entity on earth. They have the power to make the innocent guilty and to make the guilty innocent, and that s power. Because they control the minds of the masses† (Ruddy, 2002). Malcolm X, a prominent African American human rights activist, strongly believed that the media played a vital role in how they make society perceive events and people. An issue that is presen t, historically and currently, is media contributing to racism. When news is reported involvingRead MoreMedia s Influence On Society1454 Words   |  6 PagesThe Media’s Chokehold The media s influence on society is suffocating and undeniable. Body image has become overwhelmingly present in most media today. The front cover of a magazine may critically exclaim â€Å"so-and-so has cellulite† or â€Å"so and so is too thin†. Popular reality stars like Nicole Polizzi (otherwise known as â€Å"Snooki†) have been criticized for being to large and then criticized for being too thin after dropping the weight. The media teaches people to be unsatisfied with their bodiesRead MoreMedia s Influence On Society1269 Words   |  6 Pages The media is full of countless things, it has completely changed the world and is now a part of our everyday lives (Bookman, 64). With television, radio, newspapers, books, etc†¦ working their way into our everyday lives it is impossible to live without the media today. Along with it being persuasive, informational and a great source for entertainment it also has a large binding influence on societies all over the world. Media aspects are radically reshaping the world (Marina 240) and though someRead MoreMedia s Influence On Society1256 Words   |  6 PagesThe media are full of countless things, they have completely changed the world we live in and are now a part of our everyday lives (Bookman, 64). With television, radio, newspapers, books, etc†¦ working their way into our everyday lives it is almost impossible to live without the media. Along with it being persuasive, informative and a great source for entertainment, it also has a large binding influence on societies all over the world. Media aspects are radically reshaping the world (Marina 240)Read MoreMedia s Influence On Society Essay1250 Words   |  5 Pagescapitalist society the United States has developed a media centered culture. Society has been influenced tremendously by mass media it seems as if it has become a necessity in life. Nine DVDs worth of data per person every day is the amount of all media delivered t o consumers whether it be visual or auditorial on a daily basis. As consumers and technology develop that number will continue to increase because of the multi-tasking abilities that will be created (Zverina 13). The hold media has on societyRead MoreThe Media s Influence On Society1654 Words   |  7 PagesMass media is perhaps the most powerful tool in the world for creating, changing or perpetuating society’s ideas about an issue or group of people. It works both blatantly and subconsciously by deciding which issues are important, how to frame those issues, who to show as affected by them, and, increasingly, providing personal commentaries on the matters at hand. Because the majority of media outlets are owned by corporations dominated by white heterosexual men, many minorities are portrayed in waysRead MoreMedia s Influence On Society1475 Words   |  6 PagesMass media has affected our view as a society on social class and what defines one’s social class. Throug hout this article called â€Å"Making Class Invisible† by Gregory Mantsios, we evaluate the influence media has on our society and as Mr. Mantsios states how â€Å"media plays a key role in defining our cultural tastes, helping us locate ourselves in history, establishing our national identity, and ascertaining the range of national and social possibilities† (para. 1). Our social class determines whatRead MoreThe Media s Influence On Society1560 Words   |  7 Pagesare. How many times have we heard this, yet we live in a society that appears to contradict this very idea. If looks don’t matter then why do women and girls live in a society where their bodies define who they are? If looks don t matter then why is airbrushing used by the media to hide any flaws a person has? What exactly is causing this, why do we feel like we are just not beautiful the way we are? Its the media. It’s because the media promotes a certain body image as being beautiful, a nd it’sRead MoreThe Media s Influence On Society1416 Words   |  6 Pagesâ€Å"The media s the most powerful entity on Earth. They have the power to make the innocent guilty and to make the guilty innocent, and that s power. Because they control the minds of the [people]† (Malcolm X). The message of this Malcolm X quote is that society can control the mind of the individual. This is true. For many years, society has influenced everyone worldwide both negatively and positively. That is because society has the ability to control the individual’s decisions. They can controlRead MoreThe Media s Influence On Society2776 Words   |  12 Pagessee many images in the media and they suggest what we should be like. While the media says how we should act or look, these suggestions invade people’s thoughts. The images the media portrays make it hard to break out of socially constructed stereotypes in our lives. The media reflects dominate and social values of peop le’s lives. The media also portrays gender by creating stereotypes and gender roles showing how men, women, and transgenders are seen as deviant. In the media, men are portrayed to

Cell Phone Radiation Free Essays

The radiation protection to be practiced cell phone radiation During normal use, over half of the radiation transmitted by your mobile phone is absorbed by your head or body. Around 80% of the phone’s microwave emissions are absorbed by the head. Only shielding or distance to the phone can reduce their severe impact. We will write a custom essay sample on Cell Phone Radiation or any similar topic only for you Order Now The United Nations World Health Organization has classified mobile phone radiation as possibly cancer causing and advise that it is important for mobile phone users to minimize exposure by utilizing hands free devices or texting. Always use speakerphone or proven radiation safety accessories. Steps that should be take to reduce cell phone radiation : use the speakerphone because the cell phone radiation drops exponentially by distance, so, the further away the phone is from your head the better. limit the use to essential calls and keep calls short because even a two minute call has been found to alter the natural electrical activity of the brain for up to an hour after-wards. children should not be allowed to use the cell phone, except in emergencies because their skulls are still developing and the radiation can penetrate much more deeply. use an air tube headset (not regular wired headset) because research has shown that regular wired headset could transmit radiation into the ear canal. do not put cell phone in your pocket or belt while in use or while it is on because men who wear cell phones near their groin could have their sperms count dropped by as much as 30%. if using phone without a headset, wait for the call to connect before placing phones next to the ea r because radiation level is higher while phone is still trying to make a connection. Most cell phones emit the most adiation when they first connect with the cell tower. do not use the cell phones in enclosed metal spaces such as vehicles or elevators because phones need more power to make connection. The metal enclosure also traps the radiation and reflects it back at the occupants. do not make a call when the signal strength is one bar or less because the phone must work harder to establish a connection and thus emits more radiation. buy a phone with low radiation rating because the phone’s SAR ( Specific Absorption Rate ) can be found in manual. The lower the SAR value from the FCC limit of 1. 6 W/kg , the better. use scientifically proven cell phone radiation reducing or protection device. Keep Your Distance because the intensity of cell phone radiation diminishes quickly as your distance from your cell phone increases, and every millimeter counts. You can protect yourself from the effects of cell phone radiation by holding your cell phone away from your body and use a wireless Bluetooth headset or earpiece, which emit radiation at far lower levels than cell phones. Other than that, you can carry your cell phone away from your body – in a purse, briefcase or computer bag – not in your pocket where it is pressed up against you. Try Texting, Not Talking – When you send a text message from your cell phone, you hold your phone away from your body, and far away from your head, which reduces your exposure to radiation. Find a Strong Signal and Stay Put -When your cell phone has a weak signal, it has to work harder to transmit and receive, and that equals higher bursts of radiation. You face the same problem when you are moving quickly – riding in a car, bus or train, for example – because your cell phone is forced to repeatedly emit new bursts of radiation as it connects to different cell towers along your route. Use the Toggle Method – you can reduce your radiation exposure by holding the phone away from your ear when you are talking and only bringing it close to listen. Using a headset or speaker mode is still the better option, but the toggle method can cut the amount of radiation your brain and body absorbs. How to cite Cell Phone Radiation, Essay examples

Duffy’s poems are more comic than serious Essay Example For Students

Duffy’s poems are more comic than serious Essay Several poems in ‘The world’s wife’ are comical while several others are serious. Likewise some of the poems are comical but give out a serious message. For example, ‘Mrs Darwin’ is such a short poem with a very mocking and sarcastic tone. Furthermore, it does not seem to give out a very serious message of any sort. The poem is related to Darwin’s theory of evolution and in it his wife mocks him and his theory in some sort of sense, ‘I went to the zoo and something about that chimpanzee reminded me of you’. The tone in this poem is simply comical which overall makes the entire poem very humorous. On the other hand, Little Red Cap has a more serious tone due to the fact that it is speaking about Duffy’s past life, moreover, the beginning of her adulthood. The language is not as simple as ‘Mrs Darwin’. Furthermore, the language that is used portrays very serious points in Duffy’s life; ‘glistening virgin white’ which shows her loss of innocence being taken away by the wolf. Such subject would not be discussed in a comical poem. Little red cap is autobiographical; in addition, Duffy is known to give a very serious feminist message in which her poems will be serious. In contrast, ‘Mrs Midas’ had a more comical approach although it did have a serious message to it. ‘I thought to myself, is he putting fairy lights on the tree?’ This is a funny image which is portrayed through a very humorous tone. Likewise, the entire tone of this poem is conversational and is very talkative to the reader. This is then also related to how Duffy wants to give out a female voice; Midas gets a wish granted and asks for everything he touches to be turned into gold which coveys his greed and selfishness. Consequently, the use of humor to is very affective because it shows us how Mrs Midas is having to cope and how she also feels. The humor portrayed here is dark so it makes the reader feel sympathetic and reliase how badly women were being treated by men which also gives a huger image of how serious the poem is. Likewise, Duffy makes Mrs Midas seem funny even though deep down we as readers know she misses him. ‘Mrs Icarus’ is a very similar poem to ‘Mrs Darwin’. It uses throw away humor and can relate to females hugely and they would also find it funny. Furthermore, the poems are way too short to be taken seriously by anyone. The language that is used in the poem is very simple and easy to read which conveys the seriousness of the poem. ‘I’m not the first or the last/to stand on a hillock, watching the man she married/prove to the world/ he’s a total, utter, absolute, Grade A pillock.’ The shortness of the poem and the way it ends with her calling her husband an idiot shows that this poem in Duffy’s collection is just there for humor. Salome is a poem which has very dark humor, biblical images and very disturbing parts in which all portray a very serious message. Salome has woken up with a head on the pillow next to her, and she doesn’t know whose it is. In addition, she doesn’t even think that it is important either. This shows us the dark humor that Duffy is using in order to talk about something so serious. Duffy links the second stanza with the first by opening it with more possible names: â€Å"Simon? Andrew? John?† They are all names of Jesus disciples, and this is the first direct biblical reference. Here we begin to reliase that yes this poem is funny but it is also very serious. Duffy ends the poem with a very casual phrase ‘and ain’t life a bitch’. This phrase is so unbelievably casual, flippant and so very hysterical. Yet the poem as a whole is somewhat very serious. .ud0f24b275ecb969905242077f2642263 , .ud0f24b275ecb969905242077f2642263 .postImageUrl , .ud0f24b275ecb969905242077f2642263 .centered-text-area { min-height: 80px; position: relative; } .ud0f24b275ecb969905242077f2642263 , .ud0f24b275ecb969905242077f2642263:hover , .ud0f24b275ecb969905242077f2642263:visited , .ud0f24b275ecb969905242077f2642263:active { border:0!important; } .ud0f24b275ecb969905242077f2642263 .clearfix:after { content: ""; display: table; clear: both; } .ud0f24b275ecb969905242077f2642263 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud0f24b275ecb969905242077f2642263:active , .ud0f24b275ecb969905242077f2642263:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud0f24b275ecb969905242077f2642263 .centered-text-area { width: 100%; position: relative ; } .ud0f24b275ecb969905242077f2642263 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud0f24b275ecb969905242077f2642263 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud0f24b275ecb969905242077f2642263 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud0f24b275ecb969905242077f2642263:hover .ctaButton { background-color: #34495E!important; } .ud0f24b275ecb969905242077f2642263 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud0f24b275ecb969905242077f2642263 .ud0f24b275ecb969905242077f2642263-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud0f24b275ecb969905242077f2642263:after { content: ""; display: block; clear: both; } READ: Chronicle of a Death Foretold EssayAnne Hathaway is an odd poem because it does not have a serious topic but it also doesn’t have a humorous one so, Anne Hathaway does not fit with any of these headings. In conclusion, Duffy uses comic to help get across a serious message but there’s also a question of why are we having to choose between humor and seriousness can’t the poems be both, why does it have to be one or the other. Duffy uses this to make her poems way more effective than they are and to also give out a feminist message.

To What Extent Was the Decline of the Staple Industries Essay Example

To What Extent Was the Decline of the Staple Industries Essay To what extent was the decline of the staple industries the most significant development affecting the people of Wales and England 1880 – 1929? The decline of the staple industries was a very significant development in people’s lives. Before the decline of the staple industries, Britain was known as the â€Å"workshop of the world† this was due to the fact that Britain producing 2/3 of the worlds coal, 50% of the worlds iron and 5/7 of all the worlds’ metal. This all changed when countries like Germany and the US used cheaper methods of extracting and producing these resources that Britain’s buyers looked else wear, the decline of these main industries caused a wave of job losses and other main industries to suffer. Britain lost its place as the most powerful empire; there were many reasons for this. Britain didn’t have the necessary raw materials needed for industrialisation; Britain’s farming industry couldn’t produce enough food to feed the growing population. The Liberal reforms were very significant in people’s lives. There were many reasons for why the liberals decided to reform Britain and these issues are highlighted in Booth and Rowntrees reports about people living below the poverty line. These reports tell us that if someone lost their job before the reforms they had to rely on their savings, family and friends, and the pawn brokers or depend on the poor laws which were the only sort of social protection they had. We will write a custom essay sample on To What Extent Was the Decline of the Staple Industries specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on To What Extent Was the Decline of the Staple Industries specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on To What Extent Was the Decline of the Staple Industries specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The government hardly ever stepped in to help people, the conservative government and member of the House of Lords all believed that if a person was poor that meant they were lazy; these reports discovered that that wasn’t the case and that in fact the majority of the poorest in society were born there. Some shocking statistics had shown that 11% of primary school children were malnourished and in 1900 the height for enlisting was reduced to 5 feet and even 50% who enlisted were in too ill health. There was a major need to reform, because working conditions needed to be improved in order to improve Britain’s employed for the future. Another significant factor that affected the people of Britain was the changing role of women in Britain. The main cause in the change to women was primarily down to world war one. The war opened up a wider range of occupations to female workers and hastened the collapse of traditional womens employment, particularly domestic service. From the 19th century to 1911, between 11 and 13 per cent of the female population in England and Wales were domestic servants. By 1931, the percentage had dropped to under eight per cent. For the middle classes, the decline of domestic servants was facilitated by the rise of domestic appliances, such as cookers, electric irons and vacuum cleaners. The popularity of labour-saving devices does not, however, explain the dramatic drop in the servant population. Middle-class women continued to clamour for servants, but working women who might previously have been enticed into service were being drawn away by alternative employment opening up to satisfy the demands of war. The number of women in the Civil Service increased from 33,000 in 1911 to 102,000 by 1921. The advantages of these alternative employments over domestic service were obvious: wages were higher, conditions better, and independence enhanced. Another reason was the general strike. The general strike was called by the TUC to support the miners in their quarrel with the mine owners, who wanted to reduce their wages by 13 per cent and increase their shifts from seven to eight hours. Workers in industries such as iron, steel and coal were encouraged to stay off work. The strike affected people across the country because these industries were at a standstill this caused the rest of the country to suffer. To conclude, I think that there were many significant factors that affected the British people and the declined of the staple industries was one of them. However, i think that the most significant factor was the war, as this affected all sexes and age groups across the country and no one was left unscathed by it.

Wind Energy and Power Optimization The WritePass Journal

Wind Energy and Power Optimization Introduction Wind Energy and Power Optimization Introduction1. Overview1.1. Wind energy1.2.  Challenges1.3 Aims and Objectives  2.  Ã‚  LITERATURE REVIEW2.1.  Introduction2.2.  Ã‚  Past Achievements2.3.  Ã‚  Current work2.4.  Ã‚  Future Prospects3.1.  Description3.2.  PSS/E3.3.  Ã‚  Spectrum Power CC3.4.  Ã‚  Comparison  4.  PLANNING4.1.  Overview:4.2.  Project Risks:4.3.  Gantt Chart  CONCLUSIONREFERENCES:APPENDIX:Related Introduction 1. Overview 1.1. Wind energy The wind energy is one of the sources of renewable energy which has many advantages over the non-conventional sources of energy. There are many topological and economical factors associated with the construction of the wind farm which decide upon the construction design of the wind turbine and the placement of the wind turbines in the farm.The main construction of the wind farm consists of the mechanical, civil costs and electrical costs. In construction of the wind turbines there are different types and designs of turbines used depending on the location, topography and the power output. The wind turbine generators convert kinetic energy of the wind into the electrical energy. Different types of generators are used in the conversion according to the application and the requirements. 1.2.  Challenges A single wind turbine is connected into the array of many wind turbines to form a wind farm which is utilized to generate electrical energy.   The main consideration with the wind farm is the cost of installation and the power quality. Due to the non availability of the constant wind at all times the energy was highly unreliable, but due the new power electronic converter devices and manufacturing of the doubly fed induction generators (DFIG) the engineers have been able to overcome the problem. The power quality is the primary concern when the energy generated from the wind farm is connected to the main grid .The voltage unbalance at Bus-Bar, voltage fluctuations and reliability are the issues of prime concern in the power quality. The main problems related to the power quality in the wind farm are: 1) Steady State voltage impact: It is the most common problem which is mostly related to the source and load of electric power. Due voltage drop in the line because of the presence of impedance there are voltage drops, which must be kept under the limits to avoid failure. 2) Dynamic voltage variations: The cause for the dynamic voltage variations is the same steady state voltage variations but they are studied for a shorter time intervals of seconds or fraction of second. These can be reduced by introducing variable wind speed system or by controlling the reactive power. 3) Harmonic Distortion: In the electric System due to non-linear loads and the power electronic devices there are distortions in the pure sine wave. 4)   Voltage Transients: When an induction machine or a capacitor bank is connected in the system, the high currents are observed which might cause disturbance in the grid. The need of the optimization in the wind farms is a need, to make the technology more efficient and more reliable. There are many tools used for the simulation of the wind farm but the tools used for the wind park grid connection optimization are the PSS/E and Spectrum Power CC which contains a module for the power system optimization. 1.3 Aims and Objectives â€Å"Wind Park Grid Connection Power Optimization† In the wind farm design a typical on/offshore substation which consists of the switchable reactive components and transformer tap changers should be modeled within a power system simulation package and replicated in the Siemens SCADA (Supervisory control and Data Acquisition) system using the software Spectrum Power CC. The SCADA contains a module for power system optimization which has not been explored by the Siemens, the software has to be verified for the optimization of the wind farm and then the modeling is to be done which is achieved by proper learning of the software and implementation of the same in the real time SCADA software. The results obtained from the network optimization algorithm model Vs SCADA system are to be verified and analyzed and based on the analysis the improvements or alternatives are proposed for further enhancement. In the past due to the limited work on the software, exploring of the tools and techniques in the software is another key motive in the process which will not only solve the optimization problem but will be beneficiary for future developments. However there are optimization tools developed using the Generic Algorithm for improving the reliability of the system.   2.  Ã‚  LITERATURE REVIEW 2.1.  Introduction The wind energy is now one of the major sources of energy. Different designs of the turbines have been introduced to improve the reliability of the system. The main parameters which are taken into consideration in designing of the wind farms is the energy output, cost efficiency, the impact on the environment and the impact on the electric grid which mainly includes the integration into the existing electrical system and the power quality issues. These factors must be fulfilled before connecting into the main network to keep the existing system operational. In the process of designing the actual system of the wind farms the modeling of the proposed design which is an important factor in the basic structure of the turbine, type of blades, turbine used etc. The analysis of both the mechanical and electrical properties of the structure of the wind turbine is done using different modeling tools like PSCAD, PSS/E, Dig Silent etc.[7][8] 2.2.  Ã‚  Past Achievements Power quality in the wind turbines is the important area of concern and assurance of the protection from all the disturbances has to be made to ensure the protection of the grid. The main power quality standards are static voltage level, voltage fluctuations, voltage transients, voltage harmonic distortion, voltage unbalance and voltage supply interruptions. In the past the fixed speed electric turbines were used but now due to their drawbacks main being the inefficient control of the reactive power and power quality problems the variable speed turbines have been developed. A variable speed turbine keeps the generator torque constant and the speed changes which results in constant power in the system which is the essential requirement. There are many power electronic devices which are used in combination with the induction machine and the synchronous machine. The structures developed in the modeling of the wind turbines are used in the analysis between the electrical and the mechanical structure of the wind-farm and also help in the dynamics interaction of the wind farm and electrical grid which enables the design engineers and owners to make an adequate study before the installation of the wind- farm. [1][2] Various models have been developed earlier for specific studies in the wind turbine functioning using the Dig Silent and PSS/E software. Various calculations are performed by the utility engineers like the load flow analysis and the transient analysis of the models developed. The main objective of the load flow calculations is to identify the flows in the transmission lines, transformers and the voltage at different buses or nodes which is an integral planning of the planning and the design of the wind farm. The calculations are done under different scenarios to satisfy the conditions. The transient stability studies are done to calculate the transient response of the system under the disturbances. The synchronism, the damping of the oscillations of the machines are examined which play a vital role in the planning and interconnection of the wind farm. [4][9] 2.3.  Ã‚  Current work Many studies have been conducted on the stability of the wind-farms, but referring to the paper by David T.Johnsen on â€Å"Optimisation of the fault ride through strategy of a wind farm† which explains the optimisation and also the dynamic stability of the wind-farm by developing a procedure for an optimal fault ride through strategy for the wind farms. The dynamic simulations are developed and modeled in PSSE which illustrates the possibility of increasing the capacity of the wind farm by optimal fault ride through settings. â€Å"The operational characteristics of the wind farm are optimised by adjusting the parameter settings of a model of a simplified PQ-generator while simulating in PSSE†. From the article it is observed that the â€Å"wind-farm consists of radial connection, consisting of two parallel and identical 132 Kv branches which are connected to a high level wind penetration†. Apart from the two wind farms an† additional wind farm (WF2)† is connected which is represented in the network by the â€Å"generic PSS/E model of a full converter turbine or a simple P-Q generator which represents as ideal power source.† The settings of the P-Q generator can be modified in the simulation by adjusting the active and reactive power in the system. To increase the stability and the loss of synchronism the â€Å"active power injection must be reduced to a low active power level as soon as the voltage dip is detected and a high value of reactive power during the fault incre ases the transferable limit of the active power during and after the fault. â€Å" In the conclusion of the paper it is seen that the comparisons between the response of the â€Å"P-Q generator and generic FCWT model† illustrates that it possible for the â€Å"P-Q generator to successfully ride through the fault while the generic FCWT trips.† â€Å"The main concerns regarding the dynamic power response in the process of optimisation are as follows: 1. The active power must be severely constrained during the fault sequence. 2. The maximum reactive power production has to be high and fast responding.† Hence it is concluded from the paper that the fault ride through strategy can improve the capacity and the electric grid quality in the wind-farm. [3] In an optimization model developed by the Strategic Energy Institute (Georgia Institute of technology) there are some input parameters like wind speed, Weibull parameter, investment, efficiency of generator and gearbox, speed etc and output parameters as optimal rotor diameter, optimal generator capacity, optimal RPM, torque and power produced. These parameters are drawn into a flowchart which consists of a wind turbine design optimization model. [10] 2.4.  Ã‚  Future Prospects The IEEE research paper on â€Å"Optimization of Electrical Connection Scheme for Large Offshore Wind Farm with Genetic Algorithm â€Å"at the Sustainable Power Generation and Supply (2009) represents a way of power system optimisation by Generic Algorithm .An analysis on an off-shore wind farm is made in which the optimisation of the electrical connection is converted into the factors of the â€Å"voltage level inside the farm, the voltage levels of substation, number of substations, location of substations, connection topology of substation and turbines†. Due to their non-linearity the optimization is done by Generic Algorithm and the analysis is done in the paper. [6] A research paper presented in the Nordic workshop on Power and industrial electronics (2004) on Optimization of electrical system for a large DC offshore wind farm by Generic Algorithm† proposes an optimization based on Generic Algorithm where the input parameters are used as technical data and are optimised for minimum cost and maximum reliability. Based on the theory of natural evolution a Generic is developed which consists of â€Å"population of bit strings transformed into three genetic operators’ selection, crossover and mutation.† An optimization model is developed which computes cost and the reliability. The model consists of the input data, some rules, cost calculation, reliability evaluation and an optimum configuration with the help of generic algorithm. In the genetic optimization the â€Å"encoding and decoding of the chromosomes† is done which leads to computation of the cost and reliability, finally the mutation operator is used to improve th e execution of the Generic Algorithm. [14] In another IEEE paper by Kusiak.A et al (2010) â€Å"Optimization of Wind Turbine Performance With Data-Driven Models† a multi objective optimisation function is made which represents the wind power output, the vibrations in the train and the vibration in the tower to determine the wind turbine functioning. The concept of neural networks, an ES algorithm â€Å"the Strength Pareto Evolutionary Algorithm (SPEA)† is used solving the model. The results obtained state that the vibration mitigation and power maximization can be done by adjusting the generator torque and blade pitch angle. [5] In the â€Å"Small Wind Off-Grid System Optimization Regarding Wind Turbine Power Curve† paper by Ã…  imić.Z and MikuliÄ ić.V (IEEE) there is another small hybrid off-grid system in which there is discussion on the impact of the power curve on the cost of the energy and amount of energy produced. The â€Å"HOMER micro power optimizing tool â€Å"was used for the optimisation, wind speed data was varied and the results were analyzed. 3.  Ã‚  METHODODLOGY 3.1.  Description In the project as the simulations of the wind farm are to be carried out in the software package, the studying of the wind model layout is the prime important step which includes the components and specifications. The layout of the wind farm design mainly consists of an array of wind turbines, the electrical connections, on/off shore substation, transformer, On -Load Tap changers, Phase -to -Phase voltage controllers and shunt capacitor banks to improve the voltage quality of the system. 3.2.  PSS/E The optimal power flow software PSS/E is used in the analysis in which all the components are modeled and all the results are recorded. A brief description of the software is as follows: PSS/E (Power System Simulation for Engineering): â€Å"Power System Simulation for Engineering (PSS/E) is the major tool used in the course of the project which consists of a set of programs for studies of power system transmission and generation behavior in both steady state and dynamic situations. It can be used as a tool to analyze the power flow and the related network functions, the optimal power flow, balanced and unbalanced faults, network equivalent construction, as well as dynamic simulation. The main software used is the Power System Simulator for engineering optimal power flow from Siemens which improves the overall efficiency and output of the system in addition to the normal power flow. The software is mainly used for the today’s challenges of the regulated power supply which are as follows: Reactive power scheduling Voltage collapse analysis Transfer capability investigation Location based marginal cost assessment Ancillary service opportunity cost assessment Impact assessment Base case development Congestion analysis† *The Above content is taken from the user manual of the Software PSS/E. [11] As the software has been used earlier in the analysis of the power system so learning and implementing the software would not be a very difficult task and the analysis can be carried out using the manuals and other research material provided on the internet. 3.3.  Ã‚  Spectrum Power CC In the second and the important part of the project the same wind farm simulation model is modeled in the Siemens Spectrum Power CC software using the SCADA, the Distribution Network Analysis (DNA) which consists of Distribution system power flow (DSPF), Distribution System State Estimator (DSSE), Short Term Load Scheduler (STLS), Fault Management and Volt-Var Control(VCC). The brief description of the software from the Siemens software reference manual of the Power Spectrum CC is as follows: â€Å"Distribution Network Analyses (DNA) supports the following features: Effective and efficient control of distribution networks   Increased supply quality and reliability Optimal use of network equipment Minimization of network losses Detection and elimination of overloads in time Efficient fault management The elements which are to be used in the software for the analysis of the system along their main functions which are an integral part of the Spectrum Power CC Distribution Network Analysis are: 1) Distribution System Power Flow(DSPF): â€Å"DSPF is mainly used to calculate the network status in the system configuration. The power flow solution calculates the voltages at all the bus-bars, the power and the reactive power at all the buses. The flows in the network are the most important parameters in the simulation. The limits of the system are analyzed and suitable optimization technique is used.† 2) Distribution State Estimator(DSSE): â€Å"DSSE is mainly used for the real-time monitoring, control and optimization of the model. It estimates the active and reactive power values and corrects the data by using the techniques of mismatching of information. â€Å" DSSE integrates the optimization process with the optimal power flow to calculate the flows which are then used to monitor the real time operation of the network. 3) Short Term Load Scheduler(STLS): â€Å"STLS tracks the active and reactive power management of the power system loads and maintains the consumption for the loads in the network into a database.   â€Å" 4) Fault Management: â€Å"The main application of the Fault management is location of the fault, the fault isolation and service restoration. The fault management consists of: Fault location Locating the faulty section or area of the network as closely as possible Fault isolation Isolating the faulty section or area of the network Service restoration Restoring power to de-energized non-faulty areas of the network 5)   Volt-Var Control(VVC): â€Å"Volt-Var Control (VCC) deals with the operations on the transformer with on-load tap changers, phase-to phase voltage controllers and shunt capacitors to improve the network operations. The main task is to improve the overall reliability and quality of the network. VCC works on two operating modes: Open loop: The settings after running the flow are not automatically executed; they are reviewed by the user. Closed Loop: The settings after running the flow are automatically executed after VCC calculation.† The main objectives which are to be fulfilled after the optimization of the system mainly consists of: 1) Minimize limit violations. 2)   Minimize power losses and limit violations. 3) Minimize active power consumption and limit violations. 4) Minimize reactive power consumption and limit violations. 5) Maximize power revenue and minimize limit violations. *(The description of the software has been taken from the reference manuals provided by Siemens .It has been edited and modified according to the data required, but still Quoted to be on safer side.)[12] The above tools in the software are studied and then analyzed as the software is used for the optimal power flow for the first time, so understanding the software is a difficult task which may consume a lot of time and may require a lot of help from the external sources. If the results are required results not obtained on the software then if will become more challenging, and have to take the help of the specific team involved in creation of the power system optimisation tool in the software, which may include taking help from Siemens, Germany. Replicating the power system model on the software won’t be a challenging task, if all the main functions are studied and learned in detail. The results may be then obtained if the simulation is successfully modeled in the software. 3.4.  Ã‚  Comparison In the last step results of both the simulations will be compared and the analysis of the results obtained is done separately for both the softwares. The drawbacks of the Distribution Network Analysis software will be studied based on the results obtained from the comparison of the data obtained after running the simulations. A suitable alternative is then proposed, supporting the simulation and improvements in the design are implemented to obtain the desired results. The proper explanations of the improvements supporting the outcomes are made as the improvements proposed in the software are then implemented by the engineers without the power system background.   4.  PLANNING 4.1.  Overview: The project work has been planned and divided into a timeline which has been shown in the Gantt chart as attached in the report. The project plan is made keeping in mind some delays due to the unavoidable circumstances and will be effective from the initiation till the completion of the project. 4.2.  Project Risks: In the Project as the modeling tools have to be used in the simulation of the wind  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   farm so the availability of the software is a major concern. The power system optimization software PSS/E is available which won’t be a concern. As the software is complex and difficult to understand so it may take a longer time to understand the working. The help of the PhD students will be taken and the simulation will be made as simple as possible to remove the complexity from the model as it has to be modeled in a short duration. If necessary the use of simple optimization tools would be done like Dig SILENT, Power world Simulator etc. In the another modeling software Spectrum Power CC provided by Siemens, the power optimization module in the software on which the simulation is mainly based is new, which may consume a lot of time learning the software, therefore suitable training will be taken by the experts so that, I can easily adapt the software and proceed with the work. The difficulties faced will be rectified by the Siemens Technical Team and PhD students at The University Of Manchester which will lead to the success of the project. 4.3.  Gantt Chart   Risk Assessment Form Dissertation Project: â€Å"Wind Park Grid Connection Power Optimization† Risk Description Effect on the project Action Required Non Availability of PC The postponement of the project Immediate availability of another PC Non Availability of Software Difficulty in modeling. Immediate availability or some alternative modeling tool. Data Crash A data backup is created. A backup has to be created. Power system optimization software use Due to the non-familiarity longer time to learn the software. Modeling will be kept simple and the help of PhD students would be taken for modeling. SCADA software interface Due the first time use of optimization module there may be delays. Help of specialized team is expected.    CONCLUSION In the feasibility study above the methodology of the dissertation project is explained. The literature review highlights all the work done and the future prospects of the work that can be done in the research are. The project planning consists of the Gantt chart which is a layout of the working of the project which includes all the risks and different challenges during the project. REFERENCES: 1)    Eriksson.K .et al.(n.d.), â€Å" System Approach On Designing An Offshore Wind Power Grid Connection† http://www05.abb.com/global/scot/scot221.nsf/veritydisplay/34ec041beda66334c1256fda004c8cc0/$file/03mc0132%20rev.%2000.pdf 2)    Hanson.J and Hunger.T (n.d.) â€Å"Network Studies for Offshore Wind Farm Grid Connections Technical Need and Commercial Optimization â€Å"  Ã‚  Ã‚  Ã‚  2004ewec.info/files/23_1400_juttahanson_01.pdf 3)   Johnsen.D .et al. (n.d.) â€Å"Optimisation of the fault ride through strategy of a wind farm† frontwind.com/Paper%20Master%20Thesis.pdf 4)   Kazachkov.Y and Stapleton.S (2004), â€Å"Modeling Wind Farms for Power System Stability Studies† https://www.ptius.com/pti/company/eNewsletter/2004April/Modeling%20Wind%20Farms%20for%20Power%20System%20Stability%20Studies.pdf 5)    Kusiak.A .et al. (2010)   â€Å"Optimization of Wind Turbine Performance With Data-Driven Models† IEEE TRANSACTIONS ON SUSTAINABLE ENERGY, VOL. 1, NO. 2, JULY 2010 icaen.uiowa.edu/~ankusiak/Journal-papers/IEEE_2010_2.pdf 6)   Lingling.H, Yang.F and Xiaoming.G(2009) â€Å"Optimization of Electrical Connection Scheme for Large Offshore Wind Farm with Genetic Algorithm†Ã‚  Sustainable Power Generation and Supply, 2009. SUPERGEN 09  Ã‚   10.1109/SUPERGEN.2009.5348118 http://ieeexplore.ieee.org/stamp/stamp.jsp?tp=arnumber=5348118 7)   Petru.T (2001), â€Å"Modeling of Wind Turbines for Power System Studies† http://webfiles.portal.chalmers.se/et/Lic/PetruTomasLic.pdf 8)   Petru.T and Thiringer.T (2002)   â€Å"Modeling of Wind Turbines for Power System Studies† IEEE TRANSACTIONS ON POWER SYSTEMS, VOL. 17, NO.4   http://ieeexplore.ieee.org/stamp/stamp.jsp?tp=arnumber=1137604 9)   Sayedi.M (2009),†Evaluation of the DFIG Wind Turbine Built-in Model in PSSE†Ã‚  Ã‚  Ã‚  Ã‚   http://webfiles.portal.chalmers.se/et/MSc/SeyediMohammadMSc.pdf 10)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Schmidt.M â€Å"Wind Turbine design Optimization† Strategic Energy Institute(Georgia Institute of Technology) . clemson.edu/scies/wind/Poster-Schmidt.pdf 11)   Ã¢â‚¬Å"Siemens   Energy manual Guide for PSS/E â€Å"(Available on internet) energy.siemens.com/us/en/services/power-transmission-distribution/power-technologies-international/software-solutions/pss-e.htm 12)   Ã¢â‚¬Å"Spectrum Power CC Manual†, Siemens Germany 13)   Ã…  imić.Z and MikuliÄ ić.V (n.d.) â€Å"Small Wind Off-Grid System Optimization Regarding Wind Turbine Power Curve† an IEEE paper. http://bib.irb.hr/datoteka/309501.Small_Wind_OffGrid_ZS_final.pdf 14)   Zhao.M, Chen.Z and Blaabjerg.F (2004) â€Å"Optimization of Electrical System for a Large DC Offshore Wind Farm by Genetic Algorithm â€Å" NORDIC WORKSHOP ON POWER AND INDUSTRIAL ELECTRONICS 2004 – 037 APPENDIX: General Risk Assessment Form Date: (1) 11/5/2011 Assessed by: (2) Rajat Aggarwal Checked / Validated* by: (3)Martin Lorimer Location:   (4) Siemens, Manchester Assessment ref no (5) Review date: (6) Task / premises: (7) Wind Park Grid Connection Power Optimization :Modeling of Power system Activity (8) Hazard (9) Who might be harmed and how (10) Existing measures to control risk (11) Risk rating (12) Result (13) Continuous use of computer Eyes pain , back pain , Headache Myself , May lead to fatigue Proper Precautions while using computer Low T Computer crash Data crash Delay in project Data backup Medium A Fire Damage to the company Company working may be harmed Fire Safety Equipments Medium A

Biography of Henry Ford Essays - Protocols Of The Elders Of Zion

Biography of Henry Ford Henry Ford was one of the most brilliant entrepreneurs in creating the automobile assembly line, it was his controversial characteristics and unorthodox approach towards administrating the Ford Motor Company which resulted in the conglomeration of one of the most successful corporations in the world. At the turn of the century everything was booming! The growth of the economy and stock market increased the job opportunities as well as morals. As a result of this industrial revolution, out of the woodwork came a humble yet driven man, Henry Ford. Between the five dollar/day plan, his policies on administrating the company, and his relations with his customers, Ford was often presented as a suspicious character. This controversial behavior epitomized the success of the company, it did not lead to his own downfall as many suspect. The Anti-Semitic accusations, and the belief that Ford was taking advantage of his customers, were by far overshadowed by his brilliance and strong hand in running his company. Of course, there were not always supporters of Henry Ford. If fact, there were many critics, critics who believed that Henry Ford was so controversial that it prevented the potential of Fords from becoming greater than it is today. By the mid twenties the Fords was already the worlds most successful automobile company, but their great reputation would soon decline. Fords $5/day plan for all employees signified the overwhelming success of the company. Many believed this success was short-lived with the new policies dealing with the workers which soon followed. With the need to increase production and lower costs, in the mid 30s Ford cut all Ford workers wages in half. Workers were expected to work faster, and harder. Department heads were ordered to ban all talking and whistling while work was in progress. All of this was a ploy by Ford to make sure he knew every move of his workers, he was very possessive. Secondly, Ford began to fire older workers and hire younger workers. His ideology was that the younger workers could work more productively and more efficiently. Which in turn would send more money flowing into his pockets. What resulted was quite humorous in fact. Black hair dye became a hot seller in the Detroit area . Older workers tried to disguise their age by dying their hair black. Fords manipulation of his workers was immoral and unjust. There was no industrial democracy, workers were forced to do what they were told or would be out of a job. Henry Fords controversial behavior reflected badly on himself and on the Ford Motor Company. The Anti-Semitic views expressed by Henry Ford could never be denied. It was common knowledge in fact that Henry Ford was prejudice. He wrote an article in the Dearborn Independent expressing his ideas that Jews were the cause of many peoples problems. Henry Ford was sued by a man by the name Aaron Sapiro in the early 1930s. Sapiro had evidence that Ford threatened himself with Anti-Semitic sentiments. Ford was recorded as saying, Sapiro is a shrewd little Jew. The bible says Jews will return to Palestine, but they want to get all the money out of America first. Sapiro should be kicked out because he is trash.. The result of the trial was humiliation for the Ford company and Henry Ford himself. After a hung jury in the first trial, the case was dropped when Ford wrote a lengthy retraction and apologized for his statements. Fords was declining in profits and production among the worlds best. All as a result of Henry Fords ego. Thus, by 1931 Ford lowered in the ranks, controlling only 28% of the market 2nd to GM with 31%. Henry Ford was the godfather of the automobile industry in the early 1900s. The development of his River Rouge plant was considered a industrial Cathedral. Hundreds waited month after month in front of the employment building hoping to be hired. To foreign immigrants it meant hope and a successful future. The River Rouge plant employed over 50,000 employees. Pols, Lithuanians, Germans, almost every western Europe country could be represented at the Ford Plant. Like a father Henry Ford began educational programs, teaching his illiterate employees how