Learn About the Applications of Fiberglass Composites

Find out About the Applications of Fiberglass Composites The utilization of fiberglass began during the Second World War. Polyester pitch was created in 1935. Its latent capacity was perceived, however finding a reasonable strengthening material demonstrated subtle †even palm fronds were attempted. At that point, glass filaments which had been designed in the mid 1930’s by Russel Games Slaytor and utilized for glass fleece home protection, were effectively joined with the tar to make a solid composite. Despite the fact that it was not the main present day composite material (Bakelite - fabric fortified phenolic pitch was the primary), glass strengthened plastic (‘GRP’) immediately developed into an overall industry. By the mid 1940s, fiberglass covers were being created. The principal beginner use †the structure of a little dinghy was in Ohio was in 1942. Early Wartime Use of Glass Fiber As another innovation, tar and glass creation volumes were generally low and as a composite, its designing qualities were not surely known. All things considered, its preferences over different materials, for explicit utilizations, were obvious. Wartime metal gracefully challenges concentrated on GRP as another option. Starting applications were to secure radar hardware (Radomes), and as ducting, for instance, plane motor nacelles. In 1945, the material was utilized for the behind fuselage skin of the US Vultee B-15 coach. Its first utilization of fiberglass in principle airframe development was that of a Spitfire in England, however it never went into creation. Present day Uses Right around 2 million tons every time of the unsaturated polyester gum (‘UPR’) part are delivered around the world, and its across the board use depends on various highlights other than its generally minimal effort: low innovation fabricationdurabilityhigh flexing tolerancemoderate/high quality/weight ratiocorrosion resistanceimpact obstruction Avionics and Aerospace GRP is utilized broadly in flying and aviation however it isn't generally utilized for essential airframe development, as there are elective materials which better suit the applications. Run of the mill GRP applications are motor cowlings, gear racks, instrument fenced in areas, bulkheads, ducting, capacity containers and reception apparatus nooks. It is likewise generally utilized in ground-dealing with gear. Car For the individuals who love cars, the 1953 model Chevrolet Corvette was the main creation vehicle to have a fiberglass body. As a body material, GRP has never prevailing against metal for huge creation volumes. In any case, fiberglass has a major nearness in the substitution body parts, custom and pack auto markets. Tooling costs are moderately low as contrasted and metal press gatherings and preferably, suit littler markets. Vessels and Marine Since that first dinghy in 1942, this is a region where fiberglass is incomparable. Its properties are undeniably fit to vessel building. In spite of the fact that there were issues with water assimilation, present day saps are stronger, and the composites keep on commanding the marine business. Truth be told, without GRP, pontoon proprietorship could never have arrived at the levels it has today, as other development techniques are essentially unreasonably costly for volume creation and not agreeable to mechanization. Hardware GRP is broadly utilized for circuit board fabricate (PCBs) †there is presumably one inside six feet of you now. Televisions, radios, PCs, cellphones †GRP holds our electronic world together. Home Pretty much every home has GRP some place †regardless of whether in a bath or a shower plate. Different applications incorporate furnishings and spa tubs. Relaxation The amount GRP do you think there is in Disneyland? The vehicles on the rides, the towers, the strongholds †such an extensive amount it depends on fiberglass. Indeed, even your neighborhood fun park likely has water slides produced using the composite. And afterward the gym †do you ever sit in a Jacuzzi? That’s presumably GRP also. Clinical On account of its low porosity, non-recoloring, and hard wearing completion, GRP is obviously fit to clinical applications, from instrument walled in areas to X-beam beds (where X-beam straightforwardness is significant). Undertakings The vast majority who tackle DIY ventures have utilized fiberglass at once or another. It is promptly accessible in home improvement shops, simple to use (with a couple of wellbeing precautionary measures to be taken), and can give an extremely down to earth and expert looking completion. Wind Energy Building 100’ breeze turbine edges is a significant development region for this adaptable composite, and with wind vitality a huge factor in the vitality flexibly condition, its utilization is sure to keep on developing. Outline GRP is surrounding us, and its one of a kind attributes will guarantee that it stays one of the most adaptable and simple to utilize composites for a long time to come.

Integrated Business Challenge Learning and Professional Development

Question: Examine about theIntegrated Business Challengefor Learning and Professional Development. Answer: Advancement of Skills So as to build up the imperative abilities, one needs to follow certain means. For an occurrence, preparing is essential for the improvement of the abilities. If there should arise an occurrence of preparing, he/she needs to go to a workshop, keep up a course and examine an article or book. Simultaneously, it is basic follow crafted by the individual and be capable in the specific field. So as to build up the expert aptitudes, the competitor must practice and conscious on the organized work. At the opposite finish of the range, it is the obligation of the contender to assess the advance and distinguish the regions for the procedure of delayed development. So as to endeavor towards progress, one needs to create proficient aptitudes, undoubtedly (Venkatesh et al. 2014) Improvement of Skills Through Semester The semesters give a perfect degree to improve the abilities of the up-and-comers. Without the set abilities, it is hard for the contender to prevail in the expert circuit. Through the arrangement of semesters, the applicants learn different details and statutes of the corporate life. It is accepted that the foundations step up to the plate and prepare the possibility for the corporate systems. The up-and-comers need to soak up certain simple ideas that reinforce the skyline of the vocation. After the finish of the school stage, the understudies set out on the expert excursion. Thusly, the instruction foundations assume a crucial job in improving the expert qualities of the competitors (Gonzales and Lambert 2014). Through consistent practice and demanding endeavors, the applicants can improve their vocation objectives every which way. Upgrading the Skills It is accepted that the job of organizations is instrumental in deciding the course of the understudies. Everyone is brought into the world with inborn abilities that to be upgraded with the evolving times. These aptitudes are basic for the structure of the corporate profession. The noteworthy aptitudes, for example, correspondence, dynamic thoughts are improved with the changing pace of time. Along these lines, it is key for the contender to build up the abilities before pondering on the corporate profession (Moore et al. 2013). Placing the Skills into Effect The genuine inquiry is how might one execute the abilities later on? The understudies look for an animating stage where they can develop indispensable aptitudes for the advancement of the vocation. The scholarly foundations assume a urgent job in impacting the understudies and help shape their profession. They can actualize the abilities in different circles of the profession. The understudies have sought to get rewarding and inventive calling in future. In this way, they can apply variegated abilities to widen the domain of the profession. It is basic for the contender to exercise such abilities and put them into impact in future. The up-and-comers ought to build up the tendency to competitors should rehearse constantly for the development of their vocation. In the ongoing time, numerous scholarly organizations include advising divisions that help to direct the understudies and prepare them for the activity showcase (Moon 2013). The business regions need essential capability and imp actful aptitudes that empower the possibility to take choices with respect to their vocation. Reference Gonzales, S. furthermore, Lambert, L., 2014. Instructor initiative in proficient advancement schools: Emerging originations, personalities, and practices.Journal of School Leadership,11(1). Moon, J.A., 2013.Reflection in learning and expert turn of events: Theory and practice. Routledge. Moore, P.M., Rivera Mercado, S., Grez Artigues, M. also, Lawrie, T.A., 2013. Relational abilities preparing for medicinal services experts working with individuals who have cancer.The Cochrane Library. Venkatesh, V., Rabah, J., Lamoureux-Scholes, L., Pelczer, I., Urbaniak, K. also, Martin, F., 2014. Advancement, usage, and assessment of an expert aptitudes improvement program: The instance of Concordia University's gradproskills.The Canadian Journal of Higher Education.

Diary of an All-nighter

Diary of an All-nighter So…Im not sure exactly where September went, but in plain English: school got harder. Were in rough terrain first wave of exams, or in my case, reviews (as you will see), etc. Apparently, there is a sophomore slump for college students i.e. performance drops compared to freshman year due to a lack of motivation…or something. But I don’t think it’s a motivation issue here. There’s just actually more work (especially courses in your major) â€" and more pressure to be uh, mature and serious. (Also: I’ve had to accept the fact that at MIT, there’s only freshmen and upperclassmen. Well…I’m not freshman no mo’…so… TIME TO GROW UP.) I’ve had a few late nights every week since school started, involving going to the architecture studio sometime during the day/evening and leaving somewhere between 1 and 3 AM. Weeeeee. But this past Wednesday was the first “final review” of the semester â€" which means everybody presents their design projects and the professor and TAs critique them…and which also means an all-nighter. Since I knew it was going to happen, I brought along my camera to document things…(brief preface: the first project is about using folding operations to construct a bridge) [Getting started] Ive got a variety of beverage options: (OJ, vanilla frapp, water, or Elmer’s???) [~7PM] So I rushed to the art supply store to buy materials that I didnt end up usingoops. And it was rainingand the boards were almost my sizeand I took the bus; that was interesting. [1:43 AM] Emily and Justin debating What is architecture, really [2:07 AM] Xenia and Nicole testing their bridges on the site model. (Still in good spirits, apparently!) [5:46 AM] A Shakira playlist starts blasting…Anyways, theres fatigue, but also anticipation to see everything come together. [7:00 AM] Finally getting started on the drawings… [9:08 AM] Bridge…done… drawing done… time to go home…yayyy. Note the skylight it is actually morning! :) (Clearly, I did not attend the 9AM class.) [Sidestory: I called my mom sometime after the review, because I’ve been neglecting certain parts of real (read: non-studio) life for a while…and she said something like, Why don’t you just manage your time better and make decisions quicker so you can finish quicker and go to sleep? and I’m just like, yo, mom, that’s not how it works…there’s always something to redesign/fix… but she just told me to drop everything and sleep.] This type of architecture studio course, which demands some late nights every week, and some all-nighters every semester, is no doubt a requisite to Course 4. While I love having my little home away from home away from home, it is pretty isolating in a way. I’m always away from my dorm, where the spontaneous greatness happens. My suitemates have joked about, for instance, saying hi/bye to me for a week. At the same time, studio bonding is pretty amazing â€" I would definitely go crazy if I had to work till 9 AM, alone. So a goal of this year is definitely striking that magical balance â€" and NOT neglecting things/peoplelikemom. In other news, I’m taking 4.75 classes. So thats, 3 architecture classes: 4.112 (the studio), 4.401(building technology, where you learn …you know, the practical sides of architecture like foundations and insulation and all that), 4.500 (design computing, where you learn digital fabrication and autoCAD â€" the ultimate time warp). I’m also taking 21F.107 Chinese I Streamlined, meaning Chinese for native speakers who can’t really read or write. To complete the repertoire, I’ve got 15.668 People and Organizations, a 9-credit class in the lovely new MIT Sloan School of Management building. (Fun fact: we have a food fund for this class â€" yay healthy snacks.) Oh yea, also!! I’m taking P.E. Stress Management. HAHA. Best class ever. We discuss how much sleep we’re getting/not getting/how there seems to be a competitive energy at MIT to be the most hardcore and not sleep (Which I do believe is trueas evidenced by this postx_x). But the best part! We almost always end with a 6-minute “relaxation/yoga” segment, during which I essentially take one nap and dream two dreams. Yay lifeeeeeeeeee. How is everyone else doing this autumnnn.

Impact Macroeconomic Factors On Nonperforming Finance Essay - Free Essay Example

Sample details Pages: 16 Words: 4738 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Risks are one of the factors that characterize the surrounding environment that every individual and institutions presides in. The level, type and magnitude of risks that are faced depend on the type of activities that elements of an environment engage in. Financial institutions and more specifically the banking industry are faced with an array of risks such as liquidity risk, market risk, operational risk credit risk among others. Don’t waste time! Our writers will create an original "Impact Macroeconomic Factors On Nonperforming Finance Essay" essay for you Create order Credit risk is identified as one of the major oldest risk factors that banks and other financial institutions have been facing from time to time. Credit risk refers to the probability that a borrower is unable repay money lend to them by a financial lending institution. Karumba and wafula, (2012) default risk is as a result of the probability that borrowers fail or unable to repay the loans hence affecting the performance of an institution. Under IMF guidelines 2004, If a borrower is unable to repay a debt or no interest is received from a loan asset for a period more than 3months or 90 days, an institution is required to classify this loans as nonperforming loans. Nonperforming loans are known to paralyze institutions performance and also lead to financial crises for example the loan crisis in US and also the banking crisis(Inoguchi, 2012) and in kenya during 1980s and 90s. Non-performing loans are costs or expenses to banks and affect negatively the performance and operation of a b ank. Researches done have identified various factors such as macroeconomic factors, financial factors and bank specific factors to be the cause of emergence and increase or decrease of nonperforming loans in financial institutions(Louzis, Vouldis and Metaxas, 2010; Ngetich and Wanjau 2009). Microeconomic factors deal with the entire economy both at the regional and national level and affect the entire population. Such factors include inflation, interest rates, monetary policy rates, savings, investments, unemployment, GDP, CPI, exchange rate, money supply among others and they are constantly monitored by government businesses and consumers. Studies have shown that most of these macroeconomic factors tend to have a significant varying effect on level of non-performing loans in banks. 1.2 Back ground 1.2.1 Kenyan banking system Karumba and wafula, (2012) Kenyan banks undergo the same risks and problems emanating from such risks faced by other institutions all in different locations and use security lending as a risk measurement tool against loan advances. Nonperforming loans are as a result of loan defaults, that is, they are of no interest to an institution because no cash flow is generated from them. Ngetich and Wanjau, (2011) stated that the aspect of non-performing loans has been receiving a lot attention because of the impact brought about by a large number of NPLs is failure or collapse of banks. Farhan, sattar, chaudhry and khalil, 2012) stated that nonperforming loans have played part in occurrence of financial crisis experienced in most parts of the world mostly in sub-Saharan Africa, America and East Asia. Hardy (December 1998)Turbulence or occurrence of some irregular activities anywhere in an economy are likely to have an impact on the banking system. Waweru and Kalani, (2009) did a paper on the commercial bank crisis in Kenya which started in1986 and continued all through 1989, 1993, 1994 and 1998 where a total number of 37 banks went under or failed. (Ngugi, 2001) observes that there were two financial crises in Kenya one in the mid 1980s and the other in the early and late 1990s, where 6 commercial banks and 12 NBFIs faced insolvency problems between 1993 and 1996 and 5 banks were placed under statutory mandate in 1998. She observes that among the factors that led to the crisis was non-performing loans . Failure of the banking industry in Kenya as observed by Waweru and Kalani,(2009) was caused by a lot of factors. Kenyan banks during the immediate post-colonial period constituted both foreign banks, local commercial banks and some privately owned NBFIs. The regulatory framework governing local financial institutions that period was not well defined. (Brownbridge, 1998) in his study on causes of financial distress in local banks in Africa and implications for prudential policy found that the insider lending was one of the largest contributor to bad loans, for instance, in Kenya failure of banks such as Continental bank, Trade bank, and Pan African bank was due to insider lending that was made often to politicians. Another factor identified was banks extended loans to high risk borrowers who had been declined by foreign banks hence local banks were willing to lend at higher costs. Brownbrigde observed macroeconomic instability as the propelling factor behind problem loans of banks, du ring 1990 in kenya the inflation rate as observed was 46% which affected banks by increasing volatility in business profits and also made loan appraisal difficult for banks. . (Waweru and kalani, 2009) states that the activities of commercial bank activities expose them to credit risk, and techniques such as provision for debts and credit screening and monitoring provide a temporary cover to level of NPLs. But he further states that increase in the level of NPLs to a certain level cannot be covered by the allocated provisions. In Kenya, after the banking crisis, measures were taken to protect against such events again. (Ngugi, 2001) in response to Kenyas financial crisis the banking act was revised and approved in 1989 to improve and enhance the mandate of CKB in terms of regulation and supervision function in regard to activities of commercial banks and NBFIs. Hardy (December 1998) shows the history of banking crisis starting with the great depression of the US, another period characterized by failure of banking system is during the 1980s and 90s where many African countries had to restructure their banking system after a crisis caused by loans to parastatals. (Ngetich and Wanjau, 2011) state that the major contributing factor of financial and banking crises observed mostly in East Asia and Sub-Saharan Africa countries is high levels of nonperforming assets. Non-performing loans are costs or expenses to banks and impacts negatively to the performance of a bank (Chang, 1999). The risk of non-performing loans are as a result of harsh external economic conditions such depressions (Sinkey and Greenawalt, 1991). 1.3 STATEMENT OF THE PROBLEM Karumba and Wafula, (2012) in their article on alternative for Kenyan banking industry identified that credit risk is one of the oldest and most challenging risk faced by banks, which results due to the probability that borrowers may default terms of their debt and hence putting an institutions capital into risky positions. Increase in defaults lead to piling of non-performing loans in an institutions balance sheet. Musyoki and Kadubo, (2011) in their paper on credit risk management on financial performance of banks concluded that default rate is the most important factor as it influences 54% in total credit risk influence on bank performance. Geoffrey Irungu, (23 November 2011) on property Kenya stated that the total outstanding loan portfolio for commercial banks in Kenya was 1.2 trillion and a statistic by index mundi show the total non-performing loans was 5.4% in 2011. Nonperforming loans impacts on a banks performance by reducing its revenue as they become expenses. These study tends to investigate the root cause and explanatory power of factors that influence or cause variation in the level of non-performing loans in Kenyan banking industry by looking macroeconomic variables. Studies have shown there seems to be a significant relationship between macroeconomic variables and level of nonperforming loans. (Ngetich and Wanjau, 2011) identified that interest rate spread have an impact on non-performing loans , Rottke and Gentgen, (2008) in there paper workout management of non-performing loans noted that the one of the reasons behind non-performing loans in Germany was the recessionary environment. Statisitic show that the trend of nonperforming loans(% of gross loans) in Kenya since 2003 to 2011 has been decreasing. In 2003, 2004, 2005, 2005, 2006, 2007, 2008, 2009, 2010 and 2011 the percentage was 34.9%, 29.3%, 25.6%, 10.6%, 9%, 7.9%, 6.3% and 5.4% respectively (sourced from world bank data base). The y axis represents percentage and X axis is years. The study aims to investigate the relationship of macroeconomic factors and nonperforming loans during this specific period of 2002 to 2011. It is a period in Kenya that is characterized by a lot of economic changes in terms of inflation rate, banks lending rates and CBR, exchange rate fluctuations, unemployment rate, price of commodities etc. I seek to investigate explanatory power of various macroeconomic variables towards the trend of non-performing loans within the stated period. 1.4 PURPOSE OF THE STUDY Microeconomic factors deal with the entire economy both at the regional and national and affect the entire population. These research paper aims at investigating the impact of various macroeconomic factors on level of nonperforming loans within Kenyas banking period within the period of 2002 to 2011. These period is characterized by a decreasing trend of nonperforming loans and hence the paper seeks to establish the level of significance of various macroeconomic variables, that also experienced major variability during that period, on defaulted loans. 1.5 General objective Impact macroeconomic factors on nonperforming loans in the Kenyan banking industry during the period of (2023- 2011) 1.5.1Specific objective To assess the impact of gross domestic product (GDP) on nonperforming loans in Kenya To assess the impact of monetary policy lending rate (CBR) on nonperforming loans in Kenya To assess the impact of inflation rate on nonperforming loans in Kenya To assess the impact of consumer price index on nonperforming loans in Kenya 1.6 RESEARCH QUESTIONS What is the impact of gross domestic product (GDP) on nonperforming loans in Kenya? What is the impact of monetary policy lending rate (CBR) on nonperforming loans in Kenya? What is the impact of inflation rate on nonperforming loans in Kenya ? What the impact of consumer price index on nonperforming loans in Kenya? SIGNIFICANCE OF THE STUDY JUSTIFICATION OF THE STUDY SCOPE OF THE STUDY The study focuses on the impact of macroeconomic variables on nonperforming loans within the banking industry in Kenya. The time scope under consideration on the trend of nonperforming loans of banks will be the period between 2002 and 2011, while the geographical scope will cover the whole banking industry in Kenya. 1.10 LIMITATIONS OF THE STUDY 1.11 DELIMITATIONS OF THE STUDY CHAPTER TWO: LITRATURE REVIEW 2.1INTRODUCTION These study tends to look at literature done on impact of macroeconomic factors on nonperforming loans by several researchers from different sources; books, articles, websites, journals and others. The review mostly will look at the works and researches done in different countries and observe the level of significance of macroeconomic variables in influencing the level of nonperforming loans. 2.3 Literature review divided into four parts, definitions, causes, npl in other countries, finally macroeconomic factors. 2.3.1 Review of past studies According to IMF guide on financial soundness and indicators (2004) paragraph 4.45 defines a loan as a financial asset created when a borrower is extended credit by a financial institution on an agreement that repayment will be done based on the specifics of the agreement and that a security may be provided(secured) or not(unsecured). Loans can be classified under secured and unsecured loans, where secured loans are loan advances extended on basis of a collateral while unsecured loans no collateral is provided. (Karumba and Wafula, 2009) stated that banks Kenyan banks depend on collateral lending as risk measure against issued loans. (Guarav Akrani, 7/9/2011) define nonperforming loans as loans whose principal payment and interest are not met by the borrower/customer, and observes the period for determining whether a loan has become non-performing under international guides to be 45 to 90 days but this may differ in different countries like in India it is 180days. According to the Malaysian Law Journal, non-performing loan (NPL), is defined as any loan to a person by a licensed institution, which has been in arrears for a period of times as may be determined by the licensed institution. According to IMF guides 2004 this definitions may vary in different financial setting in other states but the basic underlying meaning is more or less the same and (Hippolyte and Fofack, 2005) stated that how nonperforming loans are identified vary among different states mostly in Africa due to factors such as regulatory frameworks, policies governing institutions and different structural frameworks. (Guarav Akrani, 7/9/2011) stated the different types of nonperforming assets to be; standard assets, sub-standard assets, doubtful assets and loss assets. Standard asset loans or assets that are responsive to the terms of agreement in terms of repayment of the interest and principal they are said to be performing. Sub-standard loans are loans whose period for determining whether they are nonperforming is 12months but another definition of sub-standard loan by (Hippolyte and Fofack, 2005) is a loan whose terms of agreement have not been met for a period of at least 6months hence as applied in sub-Saharan Arica. Doubtful assets are assets whose repayment has not been made for a period of more than a year or 12months and loss assets are assets that cannot be recovered. Nonperforming loans are as a result of both external and internal factors of a financial institution environment. (Guarav Akrani 7/9/2011) broadly identifies this factors as speculation, default, fraudulent practices, diversion of funds, internal and external factors. These study is more inclined towards the external factors and more importantly the macroeconomic factors. Although studies tend to show varying factors as causation for nonperforming loans most studies have identified macroeconomic factors and bank specific variables as major reasons. (Louzis Vouldis and Metaxas, 2010) observed that presence of significant influence of macroeconomic factors and bank specific variables on nonperforming loans in Greece, (Vogiazas and Nikolaidou, 2011) investigated the determinants of nonperforming loans in the Romanian banking system and found that there was an influence macroeconomic factors on the NPLs. A number of countries have experienced or are facing issues regarding nonperforming loans, Inoguchi, (2012) a study done in Malaysia on non-performing loans stated that in southeast Asia where companies rely mostly on bank loans, a sound banking system is necessary. He also stated that non-performing loans pose a great danger to a banking system as evidenced in most countries an example of US subprime mortgage crisis. Louzis, Vouldis and Metaxas, (2010) in their study in Greece stated that coming up with factors that determine default risk is an important issue to the regulatory authorities concerned with the financial stability of banking industry and despite the effort by banks to come up with techniques and measures to curb the level of default risks of loans the by proper screening and monitoring of borrowers, macroeconomic factors seem to have a major effect on the level of non-performing loans among other factors such as bank specific characteristics. Nonperforming loans have played major roles in bringing down economies of not only the developing states but also the developed states in the world. (Hippolyte and Fofack, 2005) stated that if increase in nonperforming loans in a banks statements without constant monitoring and taking measures to protect against them, the resultant effect would be emergence of a financial crisis if NPLs increase beyond a banks total capital. (Farhan, sattar, chaudhry and khalil, 2012) in their study on nonperforming loans in Pakistan concluded that non-performing loans have proved to be a major contributing factor in economic crises and financial crises all over the world for instance the Euro zone crisis, the subprime mortgage crisis in the US, East Asian crisis and also sub-Saharan Africia. . (Hippolyte and Fofack, 2005) stated that most of the financial crises experienced in most parts of the world are as a result of increased level of nonperforming assets. European nonperforming loan report 2011 by Earnest and Young observed that the rate of growth of economies after the financial crisis has been very slow in developed countries(2.5%) as opposed to developing countries at a rate of 6%. The report stated that southern Europe experienced worse economic times with increased interest rates, a fall in prices in the mortgage industry, a fall in the construction industry and high unemployment rates led to an increase of NPLs in banks balance sheets. For instance, in Germany the report states after the crisis the level of NPLs rose from 200billion Euros to 250b Euros, while in Spain the economic downturn led to an increase in NPLs from 93.3billion Euros in 2009 to 107.2billion in 2010 a 14% increase. (Hippolyte and Fofack, 2005) in his study on nonperforming loans in sub-Saharan Africa stated that a high level of banking and financial crisis during 1980s and 1990s was experienced by a large number of developing countries as a result of poor performance of banking and financial institutions. There was a high level of credit risk due to an increased number defaults by loan/debt holders which was 30% of total loans during 1990s and reached a high of 32% in 1993 the highest experienced in developing countries. Impaired loans lead to increased financial costs and a great deal of other implications mostly for developing countries mostly African states that are usually characterized by debts from international organizations and foreign countries. They concluded significant influence on nonperforming loans to be caused by macroeconomic factors and various bank specific variables in most of the sub-Saharan African states. (Rottke and Gentgen, 2006) in there paper workout management of nonperforming loans pointed out that In the united states of America the crises(1989-1994) from savings and loans that led to high level of nonperforming loans in the property industry was driven mostly by volatile exchange rates, pressure of oil prices, and a competitive environment that was caused by changes in the regulatory frameworks that led to cross-state banking. There was observed increased risk taking activities and lending rose from 18% to 27% in real estate loans between 1980 and 1990. The crisis came as a result of default in the loans due to harsh economic conditions. In some countries the cause of nonperforming loans is related to political instability or system of ruling. China, due to its socialist system, is a civil law country that operates more on standard practice than on law. China does not have a robust legal infrastructure or sophisticated legal banking frameworks, though China has passed special banking legislation to accommodate and facilitate the growth of a modern banking industry. The reason behind non performing loans in china therefore is due to political matters, (Rottke and Gentgen, 2006) During the centrally planned economy from 1949 onwards loans were granted by state owned banks to state owned companies without proper credit due diligence at predetermined standardized conditions by the government. Especially, in the overheated economy of the 1990s domestic credits extended enormously and grew by 30% per year between 1992 and 1995. Theoretical review Basel accords credit risk arises whenever a lender is exposed to loss from a borrower, counterparty, or an obligor who fails to honor their debt obligation as they have agreed or contracted hence leading to nonperforming assets in banks balance sheets. The 1998 Basel 1 accord placed restrictions on the level of risk a bank could get into in regards to the level of capital it had, that is, the level of lending beyond a total capital was restricted. This was to provide security for depositors funds from loss and to shield the whole financial system from crises in case there was emergence of an economic contraction/downturn and lead to collapse. Under Basel 2 new treatment of credit risk is given specifying approaches available to banks to calculate level of credit risk, that is, standard approach, foundation internal rating based approach and advanced IRB approach. For banks to decide or specify whether a loan is performing or nonperforming standard approach is the method to use under Basel 2 accord because it measures the probability of default which looks at the likelihood that a borrower will default over a given period, it also measures the proportion of exposure that will be lost in case of default (loss given default), and finally it measures the amount of the facility likely to be drawn if default occurs. According to IMF guide on financial soundness and indicators (2004) paragraph 4.45 defines a loan as a financial asset created when a borrower is extended credit by a financial institution on an agreement that repayment will be done based on the specifics of the agreement and that a security may be provided(secured) or not(unsecured). The causation factors of nonperforming assets that face borrowers according to (Ranjan and Dhal, 2003) may be either internal or external. The internal factors include factors that are a hazard to the improvement of business activities either by misappropriation of finances needed for the purposes either by diversification or taking up new projects, business failure inefficient management product obsolescence, inappropriate technology etc. while external factors include factors that affect the business from outside this may include economic recessions, non-payment in other countries, price escalations, natural calamities etc. other theories trying to link real economy to NPLs include the theory that long lasting recessions within an economy tend to lead to an increased level of NPL,s overt time and Irvin Fishers theory of debt-deflation (1993) that states that deflation where one of the effect is usually a fall in prices causes NPL,s. Credit portfolio management theories and models For a bank to diversify the risk associated with lending of funds to borrowers, it has to have a portfolio of loans that includes different types of loans with different levels of risk. There are four credit portfolio models that have been introduced to measure credit portfolio risk; KMV portfolio manager introduced in 1993, J.P Morgan credit metric 1997, Credit Suisse First Boston introduced credit Risk+ 1997, and McKinsey portfolio-view in 1997. McKinsey portfolio-view in 1997 It is the first macro-factor model introduced by McKinsey that involves a view about the situation of the economy. It is a conditional approach that includes risk of the economy which has a large predictable impact on credit migration and on default probabilities. The historical default rate for industry/country combinations are described as function of macroeconomic variables specified by the user. the model captures the fundamental aspect that economy-wide defaults rise and fall with macroeconomic conditions( Eric Kuo, 2008, credit portfolio management). (probability of Default) = f(GDP growth, Unemployment rate, inflation, interest rates,ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.) Macroeconomic factors deal with the entire economy both at the regional and national and affect the entire population. Such factors include inflation, interest rates, monetary policy rates, savings, investments, unemployment rate, GDP, CPI among others and they are constantly monitored by government businesses and consumers. Studies have shown that most of these macroeconomic factors tend to have a significant varying effect on level of non-performing loans in banks. Mckinsey poertfolio view model has been proved to work by empirically for instance, (Ngetich and Wanjau, 2011) in their study concluded that interest rate spread, as one of the macroeconomic factors, has a significant effect on non performing loans in banks because it tends to increase the cost of lending to borrowers despite the type of interest rate charged, be it fixed or floating rate, the impact on banks non performing loans is more or less the same. (Louzis Vouldis and Metaxas,(2010) noted that studies relating macroeconomic environment and loan qualities to bank stability have been investigated and formulates an hypothesis stating that increased economic activities lead to a decline in the level of non-performing loans because consumers and firms have enough funds to repay loans, but as the economic activities continue increasing creditors with poor ratings are also given loans such that if a crisis hits the number of NPLs are high. They concluded that the studied macroeconomic variables, that is, gross domestic product (GDP), the level of unemployment rate, and the lending rate had the highest significant effect on NPLs hence proving Mckinseys model of portfolio view. 2.2 CONCEPTUAL FRAMEWORK Independent variables dependent variables Consumer price index Central bank rate (CBR) Nonperforming loans Money supply M3 Economic growth (GDP) The conceptual framework represents nonperforming loans as a function of consumer price index, CBR , money supply and gross domestic product. The researcher will assume a linear relationship between the independent variables and the dependent variable. 2.2.1 DEPENDENT VARIABLE The dependent variable in an equation is the variable that depends on changes of independent variables. Nonperforming loan as the dependent variable has proved to have a major effect on the performance of financial institutions and emergence of nonperforming loans are linked to other factors. 2.2.2 INDEPENDENT VARIABLE Factors that affect changes in dependent variables. 2.2.2.1 Consumer price index (CPI) In Kenya, the Consumer Price Index or CPI measures changes in the prices paid by consumers for a basket of goods and services. 2.2.2.2 Central bank rate (CBR) This is a monetary policy tool used by central banks, it is the lending rate to commercial banks and its used to control interest rates charged by commercial banks in the market. These study tends to investigate the relationship between changes in CBR on nonperforming loans. 2.2.2.3 Money supply M3 Money Supply M3 in Kenya increased to 1670.86 KES Billion in September of 2012 from 1638.46 KES Billion in August of 2012. Money Supply M3 in Kenya is reported by the Central Bank of Kenya. Historically, from 2000 until 2012, Kenya Money Supply M3 averaged 798.18 KES Billion reaching an all time high of 1670.86 KES Billion in September of 2012 and a record low of 345.90 KES Billion in May of 2000. Kenya Money Supply M3 includes M2 plus long-term time deposits in banks. 2.2.2.4 Economic growth (GDP) Gross domestic product is the measure of value of all goods and services produced within the borders of a given country, it is used as a measure of economic heath or status of a given state. the study seeks to investigate the explanatory power of changes in GDP on the trend of nonperforming loans. Data from indexmundi.com gives the trend of GDP real growth rate on an annual basis and adjusted for inflation; Country 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Kenya 1.5 0.4 1 0.8 1.5 2.2 5.8 5.7 7 1.7 2.6 5 5 Source; indexmundi.com 3.0RESEARCH METHODOLOGY 3.1 Research design The study aims to conduct longitudinal research, because panel data methods will be used, in the quest to answer the question on the effect of macro-economic factors on nonperforming loans in the Kenyas banking industry that has been of a concern for a period of 10years (2002-2011). Explanatory research was chosen for robust study and deep search into the macro-economic factors to achieve the goal of the study by determining the relationship and explanatory power of macroeconomic variables on nonperforming loans. 3.2 Target Population The target population will consist of all the Kenyan banks within Kenyas banking industry from where data on nonperforming loans will be derived from. The researcher views this as an appropriate population because it will give a general clear picture of the effect of economic changes on banks loan performance. Currently in Kenya, statistics by the CBK show that the population of financial institutions comprises of 43 licensed commercial banks and 1 mortgage finance company. 27 of the commercial banks are locally owned and 13 are foreign owned. 3.3 Sampling Design The study uses aggregated percentage of nonperforming loans for all commercial banks for a period of 10 years from 2002 to 2011 with an aim of achieving comprehensive. 3.4 Data collection The study will use secondary data sources to acquire data for the purposes of conducting the research. The data will be sourced from various sources that is the central bank of Kenyas annual reports, surveys and publications on commercial banks performance , another source will be the Kenya National Bureau of Statistics (KNBS) statistical data on macroeconomic variables will be obtained and the final source will be data bank from world bank surveys. These institutions are the major source of information concerning most aspects of Kenya economically and socially. Data on nonperforming loans is available at the world bank data source and the central bank of Kenya reports, while data on the selected macroeconomic variables will be obtained from KNBS. 3.5 Data Analysis Econometrics models will be used in the study to analyze the collected data so as to get accurate results. Data will be analyzed using multiple linear regression method, univariate analysis and descriptive statistics, charts and graphs. (Eviews 3) will be used to aid in the analysis of the study. 3.5.1 univariate and descriptive analysis To analyze each variable and the general trends of data from 2002 to 2011 for the commercial banks in Kenya the researcher will use univariate analysis to check for normality in variables and bivariate analysis to give a graphical representation. 3.5.2 Regression analysis Model A multiple linear regression model will be used to determine the importance of each independent variable in affecting NPLs. A model to show the regression analysis of nonperforming loans as the dependent variable and GDP, Money supply, consumer price index, and CBR as the independent variables is given below; (probability of Default) = f(GDP growth, Money supply, consumer price index, CBR) NPLt =f (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±0+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±1M3t+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±2CPIt+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±3CBRt+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±4GDPt+ÃÆ'Ã… ½Ãƒâ€šÃ‚ µt) Where NPLt = Nonperforming loans of banks at time t M3t = Money supply t CPIt = Consumer price index t CBRt = Central bank rate t GDPt = Gross Domestic Product at time t ÃÆ'Ã… ½Ãƒâ€šÃ‚ µt = Error term ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±0,ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±1,ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦,ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±5 = parameters ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±0 = Constant The error ÃÆ'Ã… ½Ãƒâ€šÃ‚ µt term accounts for omitted variables and errors in measurement

American Fashion Influenced By The First Two Waves Of...

I am researching to what extent was American fashion influenced by the first two waves of feminism. During the first wave of feminism, which took place during the late 19th century and early 20th century, women fought for the right to vote, through protests, and eventually achieved this goal. Fashion was influenced during this time- going from conservative Victorian-style ways of dressing to more free ones. During the second wave of feminism, taking place in between the 1960’s and 1980’s, women fought for social and sexual freedom, through protests as well, and even going to Supreme Court, to lobby laws that encouraged women’s reproductive rights. The emergence of iconic pieces of clothing such as that of the mini-skirt and bikini during the 1900s marked a great step in women’s journey to equal rights. Women being able to dress in more provocative ways demonstrated their newfound freedom and the change, from a purely domestic life to one of more social and equal rights in the workplace. Starting from the first meetings at Seneca Falls in the late 1800s and moving into the Riot Grrrl movement of the 1980’s fashion has drastically changed along with the rights women have won. Feminism and Fashion Introduction The first two waves of feminism in America led to a significant change in women’s fashion. The first wave of feminism focused on the fight for women’s suffrage, unlike the second, which was more radical and tackled a larger spectrum of social issues such as abortionShow MoreRelatedThe Handmaid s Tale By Margaret Atwood1357 Words   |  6 PagesHow does one define feminism? It means many things to many people. For some it’s more personal, for others it’s the Oxford definition: â€Å"the advocacy of women s rights on the ground of the equality of the sexes† (Oxford dictionary). 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“Barkley Fully Supports NBA`s New Dress Code” Free Essays

This argument is intended to show that Charles Barkley, a major star in the National Basketball Association (NBA), supports the unpopular dress code then-recently established by the league. The writer intends to show that the dress code has support among the players and that there are good reasons to support the code. The writer apparently wants the reader to understand that 1) some basketball players support this new rule, 2) that the manner in which people dress can make a difference in their lives, and 3) that some professional athletes can and do act as role models to their young fans. We will write a custom essay sample on â€Å"Barkley Fully Supports NBA`s New Dress Code† or any similar topic only for you Order Now 2. The occasion for the argument is both present and future. The first occasion arises from the ongoing argument that athletes should be role models for their fans, of which the dress code is a part. The second occasion for the argument is future, in that the present change that the author would like to effect would have an effect at a future date. 3. This article argues fact, evaluation, and proposal. It argues fact by describing the actual dress code and the evidence of the other basketball players’ behavior in response to it. It evaluates that behavior and the probable effect that inappropriate dress might have on teens. Finally, it proposes different behaviors for basketball players as a group. 4. The target audience for this article appears to be basketball fans, particularly teenagers and their parents. 5. This article makes appeals from of logos and ethos. The author argues logically, stating cause and effect in terms of both how basketball players’ examples have an effect on their fans and 2) how an individual dresses affects other people’s perception. In addition, it argues using ethos when the author describes the words and actions of Julius Irving and of Jay Leno. 6. Charles Barkley is making the argument, which the author is reporting. Because Barkley is a basketball player himself, he appears to be reliable and to make a valid argument. 7. The author attempts to make himself appear trustworthy by interviewing Charles Barkley for his article. In addition, he provides illustrations of other basketball players, possibly to indicate that he knows–or at least knows of–the players of which he writes. 8. Because Barkley was a basketball star and is currently employed as a TNT commentator, his words are already have authority. In addition, the author cites Julius Irving, the tape of the Jay Leno show, and the facts and figures involved in Barkley’s charitable work and business. 9. The arguments made do not define what the â€Å"appropriate† forms of dress might be, either according to the dress code or according to society. Nor does the argument define what it means to dress like a basketball player, as opposed to what it means to dress like other people. In addition, the author does not describe how Charles Barkley himself dresses. 10. There is some attempt to argue the dress code from a racial perspective. However, a better argument that is also touched on is that young fans look up to professional athletes, who should provide good examples for them. The argument attempts to serve the interests of the fans, but professional athletes also gain from it by their increased credibility in the eyes of the public if they dress â€Å"appropriately. † 11. The argument is framed by the discussion of the filming of the Jay Leno segment. It is arranged as a story within a story, in which the author discusses a conversation that takes place during the event that he describes in the opening of the article. 12. The language of the article is straightforward and simple and addresses a topic that the audience cares about. It appeals to the audience by making its points in an easy to understand fashion. Work Cited Stewart, Larry. â€Å"Barkley Fully Supports NBA’s New Dress Code. † Name of Textbook, Editor name (ed. ). City of Publication: Publishing House, date. 729-730. How to cite â€Å"Barkley Fully Supports NBA`s New Dress Code†, Papers

Challenge Facing Internet of Things †MyAssignmenthelp.com

Question: Discuss about the Interoperability for Challenge Facing Internet of Things. Answer: Introduction This report is based on concept of security and privacy in Internet of Things (IoT). Internet of Things is a term that refers to connection of devices to internet. There are multiple devices that are connected to Internet that includes home appliances, mobile devices, and medical equipments for monitoring patients and computers systems that are used at different workplaces and for education purpose. According to another definition of IoT, it is a network of inter-connected objects that is used for collection and exchange of data to different locations by using embedded sensors. With the enhancement of IoT, the conversation about this topic is increasing continuously at workplaces. IoT is not only a concept about how we live but it is about how we work. Whether usage of IoT is highly preferred to use in business organizations, but there are lots of complexities found around the IoT. Besides these complexities, some major issues are also found in IoT and these issues are concerned with security and privacy of Internet of Things. The purpose of making this report is to emphasize on these main issues of IoT and also provide some recommendations to resolve these issues. The major topics that we will cover here in this report are challenges, technologies, research questions and applications of IoT and its impact on real life of its users (Datafloq.com, 2017). There is not only one industry that is related to IoT. Various industries such as retail, manufacturing, banks, logistics etc. are influenced with challenges of IoT that are discussed in next segment of report. Challenges of Internet of Things Following are some essential challenges of IoT that must be considered by its users. Privacy Security Development Standards The maintenance of privacy has become a big challenge for developers of IoT. There are connected devices that are used for sending and receiving data over different networks in IoT. So there are various chances to violation of privacy of users data. It is matter of trust of users that they use IoT for their different purposes. That is why, it is duty of developers to maintain high level of privacy (Forbes.com, 2017). Security maintenance is also a challenging part of Internet of Things. The common security issues found in IoT are hacking, phishing, DDoS attacks and another virus attacks. These attacks put very harmful impact over databases, servers and other systems or devices that are connected with IoT and consists of huge amount of data of customers. The appropriate usage of advanced security techniques and tools is necessary to use by IoT developers (IoT Agenda, 2017). IoT holds promise in various emerging economies to deliver effective social and economic benefits. But due to critical challenges of IoT in areas where lack of market readiness, policy requirements and technical skills are found, there development of IoT is less among IT users. It is a challenge for IoT to enhance its development in these areas (Meola, 2017). Another challenging factor of IoT is lack of open practices and standards for devices that are connected with IoT. Indeed, every device that is connected with IoT has its own standards and specifications that may cause conflicts in networks while transferring of data. That is why it will be better to apply open practices and standards to Internet of Things for better communication and information sharing among people (Olavsrud, 2017). Problem of Internet of Things Besides above discussed challenges of IoT, there are also some problems found in IoT by its uses and that problems are listed as below: One of the major problems of IoT is regarding nature of IoT. The devices connected with IoT consists of different data sets and also belong to different data streams. This thing causes some issues in Management of data (com, 2017). Another identified problem in IoT is related to monitoring and tracking of devices. The applications of IoT are deep and wide in size and these are used at different workplaces that are virtually connected with IoT. Due to this, some problems are found in monitoring and tracking of hijacking of these devices that can be a big problem for IoT. The relevant technologies of IoT are required to resolve problems and challenges of IoT regarding security and privacy of data. These technologies will help to maintain security and privacy of devices that are connected with IoT and data that is saved into these devices. Some relevant technologies for IoT are listed as below (Network World, 2017): First relevant technology is for network security. As we know that huge amount of data is transferred over IoT through devices that are connected with it through networks. The security of these networks is important to maintain by using network monitoring tools such as Wireshark (Prophet Thinking, 2017). Another relevant technology that will be beneficial to use by IoT is authentication for maintaining security. The authentication of devices that are connected with IoT is required, so that no unauthorized access can be implemented. It is also important to maintain security and privacy of multiple users who are transferring and receiving data through IoT devices (Roe, 2017). In this case, biometrics, digital certificate techniques can be used (com, 2017). Encryption technique is also a relevant technology that can be used by developers of IoT to proper security. It is a technique to transfer data over network in unreadable format that is hard to understand by hackers. It is one of the best ways to maintain internet security (Mitchell, 2017). Applications of Technologies The relevant technologies of IoT that are used for security and privacy purposes have several applications areas. All those business organizations and other workplaces where IoT is used to perform different business activities, there these relevant applications can be used. The term Internet of Things (IoT) is cleared to all IT users. But still there are some points that are required to clear to users. After research on this topic, we got following research questions and with these research questions IT users wants to get clarification about these queries. Question 1: What is interesting use of IoT? Answer: According to analysis, we got to know that the most interesting and significant use of IoT is use of sensors that can be used to sense infective awareness in cities. Question 2: Which factor enhances the benefits of IoT? Answer: The most important factor of IoT that enhances its benefits is interoperability. This factor of interoperability is required to create programming of devices and sensors that have possibility of full connected experience. Issues of IoT discussed in Report The main issues of IoT that are discussed in report are related to its security, privacy, development and standards. These issues are required to monitor and control by IoT developers by doing all potential efforts. Besides this information about issues of IoT, another important information that we would like to discuss here in this report is about data breaching that is occurred due to cyber-attack. With the frequent use of IoT devices, physical inaccuracy is found in these devices and it further leads to lack of security and privacy of data i.e. data breaching. Besides this, issues of repetition of accessing data and high risk of security also occur (Forbes.com, 2017). In above segments of this report, all essential issues regarding IoT are discussed in detail. But an important issue is left to discuss in this report and that important issue is regarding storage issue. The issue of storage of data is not a small issue because multiple devices are connected with IoT. If data of all devices that are connected with IoT, will not be stored properly then issue of lack of security and privacy can occur. With the increment in connected devices to IoT, this problem is also increasing. In this case, to handle this issue, some policies are made by IoT developers regarding storage of data online. According to this policy, it is necessary to decide that what type of information is required to store on IoT devices and for how long. In this way, only important information will be stored on IoT devices for a specific period of time (McKinsey Company, 2017). Effect of discussed issues and their applications on Real Life IoT has big influence over real life of its customers because they store their large amount of data on devices that are connected with IoT. In this report, we have already discussed about issues and challenges of IoT and these are directly put influence on data of users. Data breaching, hacking, phishing etc. are common issues that can damage users data that is sent and received over network. Therefore, it is priority of IoT developers to be careful about these issues and keep promise to provide error free issues service to users. After this whole discussion about IoT, we got to know that IoT is an advanced term of Information Technology that has already become popular among people worldwide due to its unique features to manage huge amount of data of different devices. Therefore, business organizations should use this technology for better Management of business data. But in this report, we have also emphasized on security issues of IoT and another challenges. These things are important to keep in mind while using any IoT service. The developers should be aware about new security technology that can be used for handling above discussed IoT issues and problems. Any service of information technology is concerned with issues of security and privacy of data and in this case techniques like cryptography, network monitoring and use of anti-virus and firewall etc. will be helpful. References Olavsrud, T. (2017). 5 Key Challenges Facing the Industrial Internet of Things. CIO. Retrieved 4 May 2017, from https://www.cio.com/article/2872574/it-industry/5-key-challenges-facing-the-industrial-internet-of-things.html Datamation.com. (2017). The Internet of Things: 7 Challenges - Datamation. Retrieved 4 May 2017, from https://www.datamation.com/data-center/the-internet-of-things-7-challenges.html Mitchell, R. (2017). 5 challenges of the Internet of Things | APNIC Blog. APNIC Blog. Retrieved 4 May 2017, from https://blog.apnic.net/2015/10/20/5-challenges-of-the-internet-of-things/ Prophet Thinking. (2017). Interoperability: The Challenge Facing the Internet of Things | Altimeter. Retrieved 4 May 2017, from https://www.prophet.com/thinking/2014/02/interoperability-the-challenge-facing-the-internet-of-things/ McKinsey Company. (2017). The Internet of Things: Five critical questions. Retrieved 4 May 2017, from https://www.mckinsey.com/industries/high-tech/our-insights/the-internet-of-things-five-critical-questions Datamation.com.(2017). The Internet of Things: 7 Challenges - Datamation. Retrieved 4 May 2017, from https://www.datamation.com/data-center/the-internet-of-things-7-challenges.html Forbes.com. (2017). Forbes Welcome. Retrieved 4 May 2017, from https://www.forbes.com/sites/gilpress/2017/03/20/6-hot-internet-of-things-iot-security-technologies/#480bac6e1b49 Roe, D. (2017). 7 Big Problems with the Internet of Things. CMSWire.com. Retrieved 4 May 2017, from https://www.cmswire.com/cms/internet-of-things/7-big-problems-with-the-internet-of-things-024571.php Network World. (2017). Preparing for the Age of IoT. Retrieved 4 May 2017, from https://www.networkworld.com/article/3026315/internet-of-things/6-critical-issues-facing-the-internet-of-things.html IoT Agenda. (2017). What is Internet of Things (IoT)? - Definition from WhatIs.com. Retrieved 4 May 2017, from https://internetofthingsagenda.techtarget.com/definition/Internet-of-Things-IoT Meola, A. (2017). What is the Internet of Things (IoT)?. Business Insider. Retrieved 4 May 2017, from https://www.businessinsider.com/what-is-the-internet-of-things-definition-2016-8?IR=T Datafloq.com. (2017). Three Major Challenges for the Internet of Things. Retrieved 4 May 2017, from https://datafloq.com/read/three-major-challenges-internet-of-things/83 Forbes.com. (2017). A Simple Explanation Of 'The Internet Of Things'. Retrieved 7 May 2017, from https://www.forbes.com/sites/jacobmorgan/2014/05/13/simple-explanation-internet-things-that-anyone-can-understand/#24a46e421d09 McKinsey Company. (2017). The Internet of Things. Retrieved 7 May 2017, from https://www.mckinsey.com/industries/high-tech/our-insights/the-internet-of-things