Security Analysis and Portfolio Management Essay

Security Analysis and Portfolio Management - Essay Example On the other hand, the intuition for the growth stocks that the stocks have higher prices in the market compared to their book value creates the definition. These findings were made when the two scholars Fama and French tested the leverages, book market ratios and price earnings ratios among others in an effort to examine the Capital Asset Pricing Module. 2. Factors explaining stock returns. The Capital Asset Pricing Model is a method published in 1992 and that has been popular in portfolio management. Analysis has brought it to question since the model does not satisfy the questions of stock management entirely (Yue et al 2006). The limitations of CAPM lie in the assumption that investors need measure only a single risk that will determine the sensitivity of market returns. The model required to be efficient is therefore supposed to address a number of factors that pose as a risk to security management (Fama and French). The measures should address sensitivity of the market returns by distinguishing small stock risks over risks posed by larger stocks. The new measures implemented by Fama and French have proved to be efficient in large stocks but have not been measured on the small stocks yet from lack of access to the data on security. The research by Fama and French is applicable in the international market as well as the local portfolios in the United States (Carson et al 1999). A market risk factor and a value risk factor provided are means to explain average returns in the stocks internationally (Cohen 1967). Measured by Fama and French, the returns on an international portfolio market of stocks provide the measure of the market risk factor while the difference in the returns on the high book to market and low book to market measures the value risk factor (Case 2011). The CAPM limitations lay in the assumptions that every investor is rational in his expectations , there is a normal distribution of returns, the production and financial sectors are separated , quantity of assets is fixed, the capital market is of perfect efficiency and the risk free rates of borrowing and lending are equal (Bossaerts 2002). These assumptions among others greatly counter the realities of the markets and security and provide erroneous conclusions that create the impression that the state of the portfolios is of high standard when it is not (Fischer 1979). According to French and Fama the idea of Capital Asset Pricing Model creates a system that oversimplifies the entire process of security analysis while leaving out vital steps that create large assumptions in the long run. For example, the distribution of returns argues that all investors see the same opportunities; the model assumes the risks created by other factors on the investor while making his decisions to invest therefore ends up overlooking those risks (Case 2011). The argument of the CAPM lacks any link to the situation of real life events and practicality. The major assumptions made overlook t he important aspects of the markets rather than create a weighted concern for it and the details of stocks. Since theories and models are not necessarily perfect, the overlooked matters should address the less sensitive situations that would cause much less damage or none on the investors in the end and not the other

A review on the play Buried Child By Sam Shepard Term Paper

A review on the play Buried Child By Sam Shepard - Term Paper Example The play explicitly reveals how different family values and the concept of an American family were a few decades back from how they are perceived today by the American nation in general. The concept of the American Dream is also kept highly obvious throughout the play as different portions from the play can be easily connected by the readers or viewers to construct the message conveyed by the author, which identifies how the youth remains incapable of carrying out the American Dream either due to physical or emotional reasons. Disappointment and disillusionment displayed by all the main characters in the play due to the basic requirements of the American Dream not getting fulfilled also forms a major part of this celebrated play. It is easy to judge from the play that Shepard has tried to convey the apparently boring information about myriad actual frustrations and problems faced by the American nation a few decades back while taking care to present that grave and sensitive informati on in a highly engaging and entertaining way. The author of the play Buried Child, Sam Shepard happens to be one of the mainstream American playwrights, actors, and film directors. Being closely associated with the entertainment media and having maintained his first-class status almost through out his active years makes Shepard a highly distinguished and wildly talented artist which is the reason why he also got awarded for writing the play under discussion in this critical review. In addition to advancing his myriad talented ideas in the field of drama and production, he also served as a learned teacher for quite many years busily teaching the naà ¯ve students crucially important tactics of acting and writing which explains why many of his literary works bagged worldwide critical acclaim. He is recognized as a truly shrewd and keen playwright who is

Zara Marketing Mix and Strategy Analysis

Zara Marketing Mix and Strategy Analysis Pardeep Singh Sangwan Introduction Zara is a Spanish clothing and accessories retailer located in arteixo, Galicia. The company was founded in 1975 by amancio Ortega and rosalia mera. It is the main brand of the inditex group, the worlds largest clothing retailer. The fashion groups also have some popular brands like oysho, Massimo dutti, oysho, etc. Their first store features products which are popular and high end clothing fashions at very low prices. In 1980 they opened other stores throughout Spain. In 1988 they started their international expansion by opening store at Porto, Portugal. Zara opened their store in Australia in 2011.ÂÂ   Now in 2016 they have 2,100stores located in 88countries. Zara has remarkable logistics and they produce new products in 2-4 week. Zara is known for their fast fashion, which means latest products may disappear off the shelf within days, forcing customers to come back constantly to check for new designs. Zara has very unique marketing. Zara spends only 0.3% of their revenue on d oing promotion thats why they do not appears on television or any other advertisements. Instead of promotion Zara focuses more on their product, place and pricing. Zara rarely advertises any store sales or have sales promotions other than sale items unlike other retailers. They have very unique thing that they do not put their brand or logo on their products. In contrast to other local retailers Zaras sales associates do not focus on personal selling. Their customer service within the store is rather weak but their products and affordable prices make customer to come back to stores to do shopping. Their product quality, price own advertises it. Zaras Vision Zara through its one of a kind plans of action and stores has demonstrated business can be effective with next to zero promoting. This business is conceivable just through unrivaled client benefit encouraged by proceeded with capacity to restock and react to client needs inside days. This gives Zara the aggressive edge. Thus, keeping in the mind the mission, they generally inventive their items to upgrade shopping knowledge and give new plans at moderate costs produced using quality materials which take after most recent patterns. Zaras Strategy for Growth and Positioning Zara has confidence in zero promoting. It would preferably spend on store development than to publicize. In any case, the insignificantly promote in design magazines. The method of reasoning behind this is the brisk turnaround of store show, which is around 4 weeks, which renders publicizing a superfluous cost. Likewise, Zara focuses on productive outline to market cycle and concentrate on displaying vast number of plans every year. The workforce in Zara is fundamental to its prosperity appropriate from the creation to the store level as to put the input produced about mold execution at store is permeated to the architect and generation and inventory network puts the most recent styles in 2 weeks time. Segments Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them. Demographic Segment- Zara is focusing on youthful purchasers with extra cash. This will be fundamentally in creating nations and created nations. This presents them with a sizeable populace. As indicated statistical surveying, the clients in these nations will attempt new brands however in the meantime are cost and quality cognizant. Economic Segment- Because of low currency, low work expenses and chance to be nearer to clients, Zara need to consider techniques to take profits by other area. Since the opposition has as of now entered the more up to date showcase and is always attempting to use the advantages related with these business sectors. Legal Segment- Owning to increasing work costs and stringent work laws, the production forms in the present nations dont paramount as they will build the generation costs. In the event that, Zara does not have any desire to decentralize these capacities, there are no laws administering their choices as mold industry is not under controls. Technological Segment Zara uses unique technology know as IT to manage their supply chain which gets to low cost in operating. Zara can use IT to extend their distributing and manufacturing activities outside Spain. Global Segment Owing globalization and fast progression in advancements, a few minimal effort generation focuses have come up. With a specific end goal to lessen the expenses significantly further and look after quality, Zara can have seaward generation offices to minimal effort area keeping in mind the end goal to bring down the expenses. Zara being in center form industry with quick cycles have a novel where it provides food just on the main edge of the item cycle which empowers it to convey the guarantee of Moment Fashion. Opportunities Expansion plans- The gathering contributed more than 2.8 billion to open new stores universally in nations it as of now has a nearness and couple of new markets too. The rate of development of stores has been high as 640 stores for each yr. Zara mold will be made accessible in Korea, Ukraine, Egypt .A very much characterized development plan is basic to the corporate goal of worldwide extension with maintained income development later on. Growing Online Sale- Online retailing has been growing at a singing pace in the most recent decade and considering UK showcase, more than 14 billion has been spent online shopping. Zara ought to attempt to open online retail shops oblige the gathering of people who need to look for institutionalized adaptation items. This additionally introduces a chance to show the whole product offerings from Zara and can be effectively sought. Threats Internal Analysis- Zara attempt the asset view and study the inward investigation. Zaras principle resources are the planners, the coordinations procedure, in store sales individuals and the store feeling. These designers are responsible for producing new outlines in a limited capacity to focus time. In the wake of getting the input, they have roughly 2 weeks to convey the article of clothing to the store. Each of the creators is a significant and expensive asset and this speedy turnaround time is not imitable subsequently misused by Zara without limitations. Competitor Analysis- Zara main competitors are HM, GAP, UNIQLO, etc. boasts of large network of stores and has a strong financial leverage as it aims to tap into growing online retail segment and into franchising to expand into new market. On the other hand, HM are matching Zara in terms of designing and also have strong procurement practices. Unlike Zara, they collaborate with designs and have much wider presence as compared to Zara. Products Zara stores have mens clothing and womens clothing, each of these subdivided in Lower Garment, Upper Garment, Shoes, Cosmetics and Complements, as well as childrens clothing. Toxic Free Production- In 2011, Greenpeace began an exchange with Zara to prohibit hurtful poisons from the dress creation. In November 2012, Greenpeace distributed the Harmful strings: the huge mold line up report, in which Zara was distinguished as the most exceedingly awful. In 6 of the 10 garments that were inspected, nonylphenol ethoxylates were found, and in 2 cases malignancy initiating amines from azo colors were found. After this distribution, Zara was picked for instance as greatest retailer on the planet to bring issues to light. Different dissents were held at Zara shops everywhere throughout the world, requesting Zara to think of an aggressive arrangement to detox its garments and esteem .Some of the most harming poisons will be abstained of before, for instance PFCs will be prohibited by 2015. Zara additionally guaranteed to make data about its providers releasing of poisons freely accessible for no less than 100 providers (no less than 40 of which are situated in China) before the finish of 2013. Controversial Products- Zara pulled back a purse from their racks after a client saw a swastika on the sacks plan. The pack originated from an outside provider and Zara said the image was not unmistakable when the tote was picked. Zara representative Susan Suett said had they saw the satchel highlighted the image; they would not have sourced it. When educated of the swastika image, they quickly pulled back the thing from their racks. Zara got feedback for offering a little child T-shirt for nearly looking like garbs worn by Jewish death camp prisoners. The T-shirt was striped and included a yellow star fundamentally the same as the Star of David. Zara said that the plan of the shirt was propelled by the sheriffs stars from the great western movies. After being on sale for a couple short hours, Zara quickly expelled the shirt and apologized. The shirt was sewed in Turkey and sold in Zaras Albanian, French, Israeli, and Swedish online stores. Zara got substantial feedback for offering the T-shirt in Israel si nce Israel does not have sheriffs. Furthermore, Sheriff is sketched out in straightforward letters on the brilliant yellow star. Hana Levi Julian wrote in the Jewish Press that the outline of the word makes it hard to see. The organization said that the sales got from the T-shirts were peripheral and any outstanding T-shirts would be devastated. The Anti-Defamation League reaction to the shirt was The shirt embellished with the yellow star is in poor taste and is profoundly hostile to Jews and Holocaust survivors. To any individual who knows their history, this sort of symbolism ought to be beyond reach. We respect Zaras acknowledgment of the shirts possibly hostile symbolism and expulsion from sale. Strategies Corporate Level Strategies- The Corporate level techniques of Zara can be like that of its parent, Inditex Group. Its procedures can be grouped in view of three structures -Ansoffs Matrix, BCG Matrix and GE-Directional Policy Matrix. In view of the Ansoffs Matrix, Zara takes after the accompanying vital Directions: Market Consolidation and Product Development by getting the most recent in vogue outlines from the plan stage to the dissemination inside 2-3 weeks, much shorter than the business normal. Zara is working in an industry of high development of around 405 while having a high piece of the pie in the vast majority of the nations. This puts Zara as a star for Inditex Group in the Growth-Share BCG Matrix. Likewise the quality of its business is high, hence placing it in the Investment and Growth course of the Directional Policy Matrix. Business Level Strategies- Zara characterizes its objective market as Youthful, instructed one that preferences design and is delicate to mold. This objective is extremely expansive on the grounds that it is not portioned by ages and ways of life. In this way the extent of Zaras business is expansive. Zara likewise takes after both the cost initiative and Differentiation techniques. Functional Level Strategies- Zara changes their designs every week and it is easy for them because of their manufacturing systems. Their technology helps to reduce the time for equipments, increases utilization of machines within the scheduling time and improves quality of products at every stage of processing. Global Strategy- Zara did not follow nay localization in the counties where it was available and given just institutionalized items. Additionally it put stock in giving the most recent design at low expenses. Along these the Global Strategy Grid it can be seen that Zara follows a Global Standardization Strategy. By doing as such it wanted to expand its benefit by lessening costs and accomplishing economies of scale. Conclusion In conclusion, Zara has maintained an upper hand over its competitors by the response to the changing market trends and fashion and by vertical integration. Zara is a successful international retailer which, in less than 30 years, has transformed itself from a Spanish local brand into truly global brand. Zara, with its present IT infrastructure has been effective and able to be consistent with its core business. However, depending on an unreliable change from the supplier side, obsolete OS will not be compatible for future improvements or growth. Although, there no immediate need to change the current system, Zara should not invest more in the current obsolete IT infrastructure. It should adopt the change to the new OS eventually. Making a gradual change to the new system will increase Zaras efficiency, without facing the sudden setback of implementing the change at once.

Jane Kenyon’s The Blue Bowl Essay -- Poems Poetry Analysis

Kenyon’s criticism of burial and the mourning process and the manner in which it fails to provide a sense of closure for those who have lost a loved one is the main underlying theme in The Blue Bowl. Through her vivid description of both the natural setting and the grief-stricken emotional overtone surrounding the burial of a family’s house pet and the events that follow in the time after the cat is put to rest, Kenyon is able to invoke an emotional response from the reader that mirrors that of the poem’s actual characters. Her careful use of diction and the poem’s presentation through a first-person perspective, enables Kenyon to place the reader in the context of the poem, thus making the reader a participant rather than a mere observer. By combining these two literary techniques, Kenyon present a compelling argument with evidence supporting her critique of burial and the mourning process.   Ã‚  Ã‚  Ã‚  Ã‚  Kenyon’s choice of a first person perspective serves as one of two main techniques she uses in developing the reader’s ability to relate to the poem’s emotional implications and thus further her argument regarding the futility of mankind’s search for closure through the mourning process. By choosing to write the poem in the first person, Kenyon encourages the reader to interpret the poem as a story told by the same person who fell victim to the tragedy it details, rather than as a mere account of events observed by a third party. This insertion of the character into the story allows the reader to carefully interpret the messages expressed through her use of diction in describing the events during and after the burial.   Ã‚  Ã‚  Ã‚  Ã‚  The diction Kenyon employs for her description of the poem’s physical and psychological setting serves as Kenyon’s primary means for presenting her argument regarding the nature of the mourning process and its failure to help those who have lost loved ones. The poem’s first stanza begins as follows, â€Å"Like primitives we buried the cat with his bowl. Bare-handed we scraped sand and gravel back into the hole(1-4).† The first two words, â€Å"like primitives,† give the reader immediate insight into Kenyon’s opinion regarding the nature of the burial itself. She sees it as a means of coming to grips with death that is less evolved than the mental state of those that it attempts to help. When the first stanza is interpreted as a whole, the reader is... ...ten through mourning, thus allowing her to illustrate one last example supporting her argument regarding the failure of burial and the mourning process to provide a sense of closure for those who have lost a loved one.   Ã‚  Ã‚  Ã‚  Ã‚  Through the careful use of diction presented through a first-person perspective, Kenyon is able to use The Blue Bowl as a medium for social commentary regarding what she sees as a primitive mourning process that does not help those who undertake it. Through a careful analysis of the poem, the reader is able to understand Kenyon’s critique of the mourning rituals that humans use to alleviate the grief caused by the death of a loved one and interpret the shortcomings that Kenyon finds. Kenyon’s use of perspective combined with specifically chosen diction enables her to present a social commentary regarding what she believes to be the inherent shortcomings in the emotional effects of the burial itself and the sense of closure it is supposed to bring yet fails to achieve during a typical period of mourning. Works Cited Kenyon, Jane. "Poetry 180 - The Blue Bowl." Library of Congress Home. Web. 11 Dec. 2015. .

Dijkstra’s Algorithm Essay

1) Write short notes on: a) Pains of Partition b) Family bonding and disintegration Ans. a) India was a colony for over 200 years and this struggle for independence is deeply rooted in the Indian psyche. More than this, another momentous event of partition is taken up by the authors. Heinous activity, cruelty, barbarism have left deep scars in Indian minds. Different aspects of partition have been dealt with by many writers specially who have themselves undergone that experience. His most famous book is â€Å"Train to Pakistan†. Another important book by him is â€Å"Ghadar 1915: India’s first Armed Revolution†. There are some women writers who have also written about the partition of 1947. Manju Kapur has, in fact, made it the background of her novel â€Å"Difficult Daughter† that was published in 1998. Nina Sibal painted a vivid picture of partition in her novel â€Å"Yatra† and â€Å"What the body remembers† by Shauna Baldwain also throws light on the pains of Partition. b) Among all the countries of the world, the institution of family is of supreme importance in India. Even in this post modern world, Family still plays the pivotal role. There have been continuous twists and turns in the cobweb of family relationship. Many writers have written profusely on it but basically women writers have dealt with an extra edge. Shashi Deshpandey, Kamala Markandeya, Nayantara Sahgal , to name a few. Earlier, India had joint family system but with rapid industrialization and to meet out the search of better opportunities of employment, the families gradually acquired the shape of nuclear ones. Urban migration started with the shifting of masses from rural to urban areas to meet out the challenges of earning living. Such issues also dealt with seriously by many writers in all the languages in India. Both the genres of short stories and novels take up ‘Family’ as an important issue and then the different equations between members of the family always make interesting plot for the stories. Relation between mother and son, husband and wife, brother and brother, brother and sister requires minute detailing and a lot of sensitivity. 2) Write a note on basket-selling girl. Ans. The writer is shown as eighteen years old and studying in the Delhi University. The girl , that he meets at Deoli station, is very poor as her feet were bare but he was struck by the sheer dignity with which she carried herself. She had a typical charm about her personality. She had a beautiful , pale visage with shiny, black hair. The feature of profound attraction was her pair of dark, troubled eyes. In a way the writer was mesmerized by the simple beauty and grace oozing out of her personality. â€Å"She stood by my window for some time and neither of us said anything. But when she moved on, I found myself leaving my seat and going to the carriage door. † The use of the words â€Å"I found myself† amply suggests that he was motivated from within to follow that girl. The germination of love in this story does not seem to be unrequited as the girl also gets sparkled up looking at the writer for the second time. In fact her maiden meeting with the writer instills a spark of happiness within her. He writes, â€Å" I watched her as the platform slipped away. She was alone on the platform and she did not move, but she was looking at me and smiling. I watched her until the signal-box in the way, and then the jungle hid the station, but I could still see her standing there alone †¦.. â€Å" 3. What are the unique features of Desai’s prose style ? Ans. Desai is part of a new literary tradition of Indian writing in English which dates back only to the ’30s or ’40s. She explains that this is because â€Å"at one time all literature was recited rather than read and that remains the tradition in India. It is still rather a strange act to buy a book and read it, an unusual thing to do†. Her new style of writing is also different from that of many Indian writers, as it is much less conservative than Indian literature has been in the past. For these reasons, she says, she is not widely read in India, mainly in Indian universities if at all. Throughout her novels, children’s books, and short stories, Desai focuses on personal struggles and problems of contemporary life that her Indian characters must cope with. She maintains that her primary goal is to discover â€Å"the truth that is nine-tenths of the iceberg that lies submerged beneath the one-tenth visible portion we call Reality†. She portrays the cultural and social changes that India has undergone as she focuses on the incredible power of family and society and the relationships between family members, paying close attention to the trials of women suppressed by Indian society. Desai is praised for her broad understanding on intellectual issues, and for her ability to portray her country so vividly with the way the eastern and western cultures have blended there. 4) Write the character sketch of Daga . Ans. Daga was a contractor who earned huge amount of money. As money begets money, he piled up bundles of notes by hook or by crook. He was involved in the quagmire of immoral deeds like murder, kidnapping, trafficking etc. He had an unsatiating appetite for money and he blew it up on women and alcohol. There was nothing congenial or friendly in Daga’s personality. He did not think twice before slashing anybody from his scheme of life but if someone tried to leave his gang, he would akin it an act of treacherous absconder. For example, there was a man Kannan who wanted to leave Daga’s world of heinous crime but no sooner than this news reached Daga’s ear, he was murdered. When Kailas extricated himself from the company of Daga, he could not take it casually. In spite of Kailas’ escaping to a far off place, in fact a continent away, he managed to find him. To Kailas’ utter discomfort, his greed of money is not quashed. He demanded fifty thousand rupees from him. Kailas tried his level best to make him understand that his current job did not flourish him with unlimited money but Daga was not ready to listen. He was violent enough to have forgotten that Kailas once used to work for him. He used harsh body language while dealing with Kailas. â€Å"If you run again, I will kill you, no matter which gutter you hide in. Tomorrow this time. Fifty thousand. † This threat sent the shivers down Kailas’ spine. He knew that Daga was a killer and that hunting lodge was an ideal place for his murder to be taken place without any news of it to anybody. Finally Daga meets his death as a murderer should die. 5) Write a note on suitability of the title â€Å" Panch Parmeshwar’ . Ans. The story ‘Panch Parmeshwar’ deals with the supremact of

Write a Recommendation Report

Module Code: PM502-2T Group: Group W Module Title: Skill for Study 2 Assessment Title: Report Assignment Title: Write a recommendation report in which you compare three possible methods for water provision in arid region of your choice. Tutor Name: Eve Smith Student ID Number : 200860469 Date of Submission: Friday 2nd Dec, 2011 Word count: 1668 Contents 1Introduction1 2Background1 3Options2 3. 1Desalination2 3. 2Rain Harvesting System3 3. 3Damming3 4Requirements4 4. 1Cost4 4. 2Sustainability4 4. 3Environmental impact5 4. 4Social impact5 5Compared Options6 5. 1Cost6 5. 2Sustainability6 5. 3Environmental impact7 5. Social impact7 6Conclusions8 7Recommendation8 8Reference9 Introduction In some developing country,arid are able to cause poverty and death, so it is important to provide clean, cheap and sustainable water to those residents living in arid area. However to supply water in arid regions can be a great challenge, it should concern about cost, sustainability, environmental impact and social impact. This report will focus on 3 methods of water prevision: Desalination, Rain Harvesting System and Dam. The report aims to analyses 3 different water prevision methods, and find out which is fit the situation in Middle East.In order to achieve this aim, report will compare those 3 methods in 4 requirements: Cost, Sustainability, Environmental Impact and Social Impact and carry out a recommendation to the region of Middle East. Background Recently the total population of human being has broken through Seven billion. The booming population has led to a serious problem, the higher the population is, and the more water will be demanded. However, the water resource is limited: though 70. 9% of the earth surface is covered by water, only 2. 5% of the earth’s water can be directly utilized by human beings (Cech 2010).Fresh water resource is valuable for every one on this planet, especially for those people who live in arid areas such as Middle East. In those region s, without water provision crops and livestock cannot survive, people have to spend a lot of time on searching and carrying water which can deprive their right to get education and make money (KIC 2011). At the same time, low water quality is a huge threat to people’s health. According to a survey from WHO (2004) if all humans in the world can have clean water supply, 88% of health problem in developing country will be solved.Options 1. 1 Desalination 97% of water on this planate is salt water, if we can take the salt out water, then many place in the world will no longer suffer from lack of water. Fortunately desalination make it possible. Fischetti (2007) points out that desalination is a process using energy and technique to remove salts and other minerals from water. The aim of this process is to transform salt water to fresh water for people drinking and daily use in the regions limited on fresh water but have plenty of salt water.Numbers of desalination station have bee n built in the world, The biggest desalination station in the world is the Jebel Ali Desalination Plant located in United Arab Emirates. It can produce 79. 2 billion Gallon fresh water per year (Elshorbagy 2008). These stations supply large amount of fresh water to local residents every day, ease the water stress largely. 1. 2 Rain Harvesting System In some arid areas,rainwater may be the main water source,Boers (1994) point out that, the low rainfall and irregular distribution cause the problem of water stress in some arid areas.Rain Harvesting System basically is to harvesting rain water from rooftop and yard,after purified,than storing the water in an underground cellar for drinking, daily use and watering crops, See: figure 1 (Garwalmail 2001). Boers (1994) also points out that this kind of technique has already been applied on many arid areas to solve water stress. Figure 1 Simple Diagram to show Rainwater Harvesting (Garwalmail 2001) 1. 3 Damming Human beings have used dam as a method of water provision for a long history. The oldest extant dam in the world is the Jawa Dam, located in Jordan (Helms, 1977).Dams can be seen as a barrier to stop water flow for and reserving it. Storing rain or river water in rain season, ensure the water supply for human consumption and irrigation in dry season. Dams make water predictable, and much easier to manage. Damming is not only a water provision method but also an energy sources. Large scale dams can also produce power. Altinbilek(2002) found 19% of electricity in the world wild was generated by dams, helping a lot of countries to get clean and cheap energy. Requirements 1. 4 CostFor wealth regions, cost is not the primary requirement of water provision methods, they pay more attention on sustainability or environmental impacts. however most of arid areas are not especially wealth, cost could be a big problem for them. In some low income Middle East countries, governments are unable to afford those kinds of water p rovision project which cost a lot (World Bank 1993). Poor water supply leads to high death rate and low productivity. People have to pay more time on searching and carrying water, this makes them even poorer. So costs is an important consideration for some ountries. 1. 5 Sustainability Sustainability is also an aspect must be concerned when plan a water supply project. If a region seeks to maintain productivity and daily life,then the continuous water supply is essential. Unstable water supply will lead to low productivity and quality of life. Those old water provision methods such as pumping underground water are not a long-term solution, new technology may provide some solution to this problem. Tove (1997) brought out an idea: new technologies are able to make water supply far more stable and reliable than ever before. . 6 Environmental impact In recent years the environmental impact of water provision methods has aroused many people’s concern. In the past, environment woul d not be a primary consideration for water provision projects. However more and more evidence shows that insufficient attention to environment can bring a lot of problem. Hwang (2004) point out that, excessive use of groundwater is directly related to ground subsidence. Fortunately, today when planning a water project they will try to minimize the environmental impact (Figure 2).A fish ladder has been tested and has applied on many dams to protect native fish (Barrett 2006). Figure 2: A fish ladder built around a dam in the Pacific Northwest 1. 7 Social impact Just like the Environmental impact, water provision project can also have a significant impact on society. For a large-scale project, millions of people have to abandon their house, farmland and all the things they cannot take with them, evacuated to other places, IRO (2008) point out that it is estimated that there are more than 40 million people in the world have to move because of large-scale water project.The government ha s to pay huge amounts of money to resettle those people. Spending too much money on a water provision project may also lead to a higher bill of water which is detrimental for the poor (Goldman 2007). Comparison by Requirements Compared Options 1. 8 Cost On average, to build desalination plant is likely to be the most expansive way to provide fresh water. Karagiannis. (2007) argued about that the cost of building a desalination plant can be astonishing, and it require a lot of energy.Compare with desalination, the cost to build and maintain on dam can be acceptable if the construction scale is not that big. In addition, most of dams are applied on electricity generation and keep fish in reservoir. These methods will bring revenue to reduce the cost of dam. It is no doubt that Rainwater Harvesting System is the most economical way of water supply. Boers (1994) states that, building a rainwater harvesting system for a family is quite cheap. 1. 9 Sustainability In these three methods, t he most stabled way to supply water is desalination.Kumar (2003) argues that if we are able to transfer sea water to freshwater, then water would not be a problem for human beings; we do not have to worry about overuse sea water, as we worrying about groundwater and rivers will dry up one day. Damming is also a relatively stable water supply method. Excluding some extreme weather factors, damming can provide water to surrounding areas stably (Altinbilek 2002). However, if encounter extreme weather, like drought, dams will lost the function of providing water. The most unsustainable water provision method is rainwater harvesting.Boers (1994) states that rely on rainfall to supply fresh water in arid areas have never been a stable way. 1. 10 Environmental Impact Damming has a huge impact on the environment. Old style dams do not have a fish passage, which stops fish swims back to upstream for breeding. World Commission on Dams (2000) point out there is more than 9000 kinds of fresh wa ter fish vanished in recent 100 years in the world. For a desalination plant, the impact to environment is far lower than damming. Great energy consumption may be the only impact a desalination plant do to environment.Younos (2005) describe desalination plant energy consumption as â€Å"drinking energy†. Rainwater harvesting nearly have no impact on environment, so it is an environment-friendly way to provide fresh water. 1. 11 Social impact Desalination and rainwater harvesting almost have no negative impact to social impact. In fact these two methods are beneficiating to society. According to Elshorbagy (2007) and Boers (1994) these two kinds of methods are Ease water shortages in wealth regions and poor regions respectively in Middle East. There is no doubt that damming can have a huge impact on social.The impact of damming bring to the society is multifaceted. Local resident resettlement, loss of arable land and those cultural heritages losses, all of these social problem s are caused by damming (Goldsmith 1992). Conclusions With all the discussion above there, we can easily to find out that each method has its advantages and disadvantages. Desalination plant is a very stable water supply method. However, construction and operating costs is unacceptable for some developing country in Middle East. Damming is a reliable way to provide fresh water, but the impact on environment and society is unaffordable for some Middle East country.Although rainwater harvesting is not that stable, but because of its low cost and Environment-friendly, this method can play a major role in poor regions. So it is impossible to find out one method better than others. According to local conditions, we should choose different way to provide fresh water in Middle East. Recommendation In the Middle East, desalination may be the best way to provide water for wealth countries. However, for those poverty-stricken countries where under extreme weather, rainwater harvesting can be a good way to solve water stress. * ReferenceAltinbilek, D (2002). The Role of Dams in Development, International Journal of Water Resources Development, 18 (1), pp. 9-24 Barrett. J, Cooper, M, M. (2006). The Murray River's ‘Sea to Hume Dam’ fish passage program: Progress to date and lessons learned, Ecological Management ; Restoration 17(3), pp173-183. Boers, M. (1994), Rainwater Harvesting in Arid and Semi-Arid Zones. Waeninaen. The Netherlands. Cech, T. V. (2010). Principles of Water Resources: History, Development, Management, and Policy (3rd Ed. ). USA: JOHN WILEY ; SONS, INC. Elshorbagy, W. Elhakeem, A, B. 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Contemporary Water Research ; Education. Issue: 132. PP. 11-18 Garwalmail, A (2010). Simple Diagram to show Rainwater Harvesting. Retrieved From: http://en. wikipedia. org/wiki/File:Simple_Diagram_to_show_Rainwater_Harvesting. png A fish ladder built around a dam in the Pacific Northwest, (2010). Retrieved From: http://adventure. howstuffworks. com/outdoor-activities/fishing/fish-conservation/fish-populations/fish-ladder1. htm