INTB

A consumer's utility function is = XSL/eye/4, where x is the quantity of good x consumed and y is the quantity of good y consumed. The prices of the two goods are pix and pay, and the marginal utilities of the goods are Mix = (1 /4)x-3/eye/4 and MI-Jay = (3/4)xx/ay-1 ‘4. A) Derive the consumers demand for good x. B) Discuss the concept of elasticity, with reference to the demand you derived in (a), and contrasting linear and constant elasticity demands. 4. You have been asked to analyze the market for steel.From public sources, you are able to find that last years price for steel was $20 per ton. At this price, 100 million tons were sold on the world market. From trade association data, you are able to obtain estimates for the own price elasticity of demand and supply on the world market as 0. 5 for supply and -0. 25 for demand, respectively. Suppose you know that demand and supply equations in the market are linear. Solve for the equations of demand and supply in this market. INTO 334 By arrival luxuries (L).The consumer's tastes are represented by the utility function IS=FL. Food 2. Let income be I = 80, Pix=4, Pay= 1, and utility U = xx (with marginal utility MIX = y and MI-Jay = x). B) Now, let the price of x fall to 1 and the income fall to 50. Otherwise, there is no utility function is IS(x,y) = XSL /eye/4, where x is the quantity of good x consumed and y the marginal utilities of the goods are MIX = (1 /4)x-3/eye/4 and MI-Jay = (3/4)xx/ay-114. A) Derive the consumer's demand for good x. Able to find that last year's price for steel was $20 per ton. At this price, 100 million

Second Foundation 17. War

The mayor of the Foundation brushed futilely at the picket fence of hair that rimmed his skull. He sighed. â€Å"The years that we have wasted; the chances we have thrown away. I make no recriminations, Dr. Darell, but we deserve defeat.† Darell said, quietly, â€Å"I see no reason for lack of confidence in events, sir.† â€Å"Lack of confidence! Lack of confidence! By the Galaxy, Dr. Darell, on what would you base any other attitude? Come here-â€Å" He half-led half-forced Darell toward the limpid ovoid cradled gracefully on its tiny force-field support. At a touch of the mayor's hand, it glowed within – an accurate three-dimensional model of the Galactic double-spiral. â€Å"In yellow,† said the mayor, excitedly, â€Å"we have that region of Space under Foundation control; in red, that under Kalgan.† What Darell saw was a crimson sphere resting within a stretching yellow fist that surrounded it on all sides but that toward the center of the Galaxy. â€Å"Galactography,† said the mayor, â€Å"is our greatest enemy. Our admirals make no secret of our almost hopeless, strategic position. Observe. The enemy has inner lines of communication. He is concentrated; can meet us on all sides with equal ease. He can defend himself with minimum force. â€Å"We are expanded. The average distance between inhabited systems within the Foundation is nearly three times that within Kalgan. To go from Santanni to Locris, for instance, is a voyage of twenty-five hundred parsecs for us, but only eight hundred parsecs for them, if we remain within our respective territories-â€Å" Darell said, â€Å"I understand all that, sir.† â€Å"And you do not understand that it may mean defeat.† â€Å"There is more than distance to war. I say we cannot lose. It is quite impossible.† â€Å"And why do you say that?† â€Å"Because of my own interpretation of the Seldon Plan.† â€Å"Oh,† the mayor's lips twisted, and the hands behind his back flapped one within the other, â€Å"then you rely, too, on the mystical help of the Second Foundation.† â€Å"No. Merely on the help of inevitability – and of courage and persistence.† And yet behind his easy confidence, he wondered- What if- Well- What if Anthor were right, and Kalgan were a direct tool of the mental wizards. What if it was their purpose to defeat and destroy the Foundation. No! It made no sense! And yet- He smiled bitterly. Always the same. Always that peering and peering through the opaque granite which, to the enemy, was so transparent. Nor were the galactographic verities of the situation lost upon Stettin. *** The Lord of Kalgan stood before a twin of the Galactic model which the mayor and Darell had inspected. Except that where the mayor frowned, Stettin smiled. His admiral's uniform glistered imposingly upon his massive figure. The crimson sash of the Order of the Mule awarded him by the former First Citizen whom six months later he had replaced somewhat forcefully, spanned his chest diagonally from right shoulder to waist. The Silver Star with Double Comets and Swords sparkled brilliantly upon his left shoulder. He addressed the six men of his general staff whose uniforms were only less grandiloquent than his own, and his First Minister as well, thin and gray – a darkling cobweb, lost in the brightness. Stettin said, â€Å"I think the decisions are clear. We can afford to wait. To them, every day of delay will be another blow at their morale. If they attempt to defend all portions of their realm, they will be spread thin and we can strike through in two simultaneous thrusts here and here.† He indicated the directions on the Galactic model – two lances of pure white shooting through the yellow fist from the red ball it inclosed, cutting Terminus off on either side in a tight arc. â€Å"In such a manner, we cut their fleet into three parts which can be defeated in detail. If they concentrate, they give up two-thirds of their dominions voluntarily and will probably risk rebellion.† The First Minister's thin voice alone seeped through the hush that followed. â€Å"In six months,† he said, â€Å"the Foundation will grow six months stronger. Their resources are greater, as we all know, their navy is numerically stronger; their manpower is virtually inexhaustible. Perhaps a quick thrust would be safer.† His was easily the least influential voice in the room. Lord Stettin smiled and made a flat gesture with his hand. â€Å"The six months – or a year, if necessary – will cost us nothing. The men of the Foundation cannot prepare; they are ideologically incapable of it. It is in their very philosophy to believe that the Second Foundation will save them. But not this time, eh?† The men in the room stirred uneasily. â€Å"You lack confidence, I believe,† said Stettin, frigidly. â€Å"Is it necessary once again to describe the reports of our agents in Foundation territory, or to repeat the findings of Mr. Homir Munn, the Foundation agent now in our†¦ uh†¦ service? Let us adjourn, gentlemen.† Stettin returned to his private chambers with a fixed smile still on his face. He sometimes wondered about this Homir Munn. A queer water-spined fellow who certainly did not bear out his early promise. And yet he crawled with interesting information that carried conviction with it – particularly when Callia was present. His smile broadened. That fat fool had her uses, after all. At least, she got more with her wheedling out of Munn than he could, and with less trouble. Why not give her to Munn? He frowned. Callia. She and her stupid jealousy. Space! If he still had the Darell girl- Why hadn't he ground her skull to powder for that? He couldn't quite put his finger on the reason. Maybe because she got along with Munn. And he needed Munn. It was Munn, for instance, who had demonstrated that, at least in the belief of the Mule, there was no Second Foundation. His admirals needed that assurance. He would have liked to make the proofs public, but it was better to let the Foundation believe in their nonexistent help. Was it actually Callia who had pointed that out? That's right. She had said- Oh, nonsense! She couldn't have said anything. And yet- He shook his head to clear it and passed on.

Femoral Vein to the Lower Lobe of the Right Lung Via of the Right Pulmonary Artery

Hello everyone and welcome aboard: Today we are going to embark together in my mini sub and we are going to travel through this wonderful body of this young lady named Brittany. In this journey we will enter her body through the femoral vein and travel all the way to her lung. Alert! Alert! An alert just came and we are in for a wild surprise. A bacteria has invaded Brittany’s lower lobe of her right lung and we need to report the invasion and document all we see as to what we see also.The femoral vein runs parallel with the femoral artery through the upper thigh and pelvic region of the body (Yahoo Health,2013) Being one of the larger veins in the body, the femoral vein returns blood into the leg to the heart through the iliac vein. Before we get to the iliac vein, we are going to pass through the inguinal ligament that forms a band going from anterior superior iliac spine to the pubis ligament.The role of the inguinal ligament is to protect the tissue movement between the tr unk and the lower extremities,(Yahoo Health, 2013). From the inguinal ligament, going north, we are going to see the external iliac vein which is a continuation of the femoral vein just above the inguinal ligament. Starting at the groin area the external iliac vein goes along the pelvic area. When it intersects with the internal iliac vein, we will navigate east into the common iliac vein that functions to drain the perineal regions.The iliac veins are joined together to form inferior vena cava, also know as posterior vena cava, is a vein that carries a lot of deoxygenated blood from the lower body to the heart,(Yahoo Health, 2013). It runs behind the abdominal cavity and alongside the righ vertebrae column of the spine and it carries a lot of the blood from the lower bosy to the heart and lungs,(Yahoo Health, 2013). From here we can already see the heart. Isn’t it factastic? ? ?

Public University Funding Assignment Example | Topics and Well Written Essays - 750 words

Public University Funding - Assignment Example There is problem in acquiring funds from private entities/foundations such as 'auxiliaries' that are affiliated to these public universities. The problem does not arise from acquiring funds. The problem arises when such 'auxiliaries' affiliated to the universities are not legally bound to disclose where they get funds from and are also exempt from any disclosure of their accounts. Such anomaly can lead to grave consequences for the universities. Instances have been quoted where certain 'auxiliaries' have not been as forthcoming as they were expected to be. A foundation affiliated with Sonoma State University lent money to a former member of its board. They then got stuck with a bill when he could not pay the money back. And a former chancellor of San Francisco City College has been indicted on charges that include allegedly diverting money from a foundation account to pay for a club membership, liquor and other expenses (Instructions). These malpractices cannot be allowed to go unchecked just because Californian Public Records Act does not cover foundations. There is a gap in the law if such malpractices are allowed to occur with impunity. The current financial scenario is fraught with ignoble implications and any gap in the legal process could even mean playing into the hands of terrorists. Californian Senator Leland Yee's legislative bill SB-218 deserves "swift and overwhelming approval" by the legislature. The bill will ensure transparency and accountability. In order that honest and bona fide "auxiliaries' are not discouraged from fund raising on the university's behalf, SB-218 has a provision for such donors to remain anonymous (Senate Judiciary Committee). There are legitimate and principled ways of raising funds. Sometimes it is easier to raise funds than disburse them. Universities must be as careful in their disbursements as they are when raising funds. Conclusion Accountability and transparency in financial affairs promote goodwill and developmental activities. People in general and donors in particular want to see funds utilized judiciously and donate in greater measure when funds are invested honestly and purposefully. Besides, universities are noble institutions and are expected to uphold exemplary standards of funds utility. Source: Instructions, Order No. 316961, Academia-Research.com Senate Judiciary C

Aviation Essay Example | Topics and Well Written Essays - 1000 words

Aviation - Essay Example d) Passengers are required to attend inspection of their luggage whenever asked. e) There is also security inspection by airport or government officials. f) Finally, a carrier is not liable in case it realizes that some of the stated laws, demands, or government regulation is interfered with by a passenger (Singapore Airlines). a) Carriages are carried out by many successive carriers which are under a single ticket. Any conjunction that may be issued in connection therewith is automatically regarded as a single or one operation. It contains four paragraphs outlining the steps that the airline company takes in case of damage with relevance to the nationality of the affected passenger as stated in Article 22 (1) of the War Saw Convention. The carrier is not responsible or liable for any garbage to that has been caused to goods which were not checked before the departure time (Sikorksi, 1983 pp.56). The same also applies if the damages have been caused to the passenger’s negligence. Similarly, carrier has no liability of responsibility for any damages that the company’s compliance with government regulations and laws of the company, requirements, orders or from caused by passenger’s failure to comply with the rules and regulations or the same listed reasons. Liability of carrier to any lost baggage which was checked is limited to US$20 or 250 French Gold Franc per kilogram of loss. Carrier does not, in any way, the amounts of the proven damages. The liability the company bears is always an equivalence of the loss incurred by the passenger. Consists of notice of claims (Para.1) and Limitation of actions (Para. 2). The is no action in case of any damage of a checked damage. Not unless the individual responsible ‘channel his or her complains following the right procedural course. The complaint should be made within the first seven days upon receipt. This article

Reflective Journal Assignment Essay Example | Topics and Well Written Essays - 750 words

Reflective Journal Assignment - Essay Example The success of this stage in growth leads to the virtue of hope which often goes a long way in determining how a person would view the world and/or tackle real life crises and problems that are ever existent. Being of a middle age compared to the other of our siblings, I was never accorded the utmost care that the others had and this I believed strengthened my resolve greatly. I become more independent and assertive and this enabled me too to recognize my abilities and skills. Taking part in groups, organizing class events at schools, sorting out fellow children quarrels and disagreements enabled me to recognize my special talent in counseling at a tender age. Ages 10-20, regarded by most scholars as the age bracket that makes or breaks an individual were rather hectic for me. This is where self actualization occurs when one starts to learn the roles he would want to play as an adult. At an adolescent age, I got to learn a lot about myself and the surrounding. This is the age where I got to re-examine my identity and who I really was both in our family and to the society at large. This period came to pass with a lot of challenges that defined who I became. I decided to set myself on a career path and developed a greater sense of fidelity and tolerance. My later advanced ages presented to me the worst times I ever had. Before making any considerations on the need and motives, I decided to have a partner in my early 20’s. As described in the eight stages of development by Erikson, this is the period in the lifespan of an individual when one yeans for intimacy and a certain level of commitment. I got married at a comparatively younger age and this came with its share of problems. I had a marital relationship that that took turns at every face of difficulty and disagreements. This stage gave me a lot of insight into the issues that couples face on a daily basis and opened me up more to the counseling profession. At the

The topics are two big to write over here so i will upload the Essay

The topics are two big to write over here so i will upload the possible topics after finishing the checkout - Essay Example On the other hand, the year 2000 elections gave mesmerizing chances to the dwellers of the four major counties of Florida to influence the result of the election with a relatively greater margin. However, you got to multiply these probable conditions by a minute probability through acknowledging yourself as a voter in a major county and you can be easily stunned to see the end result which is way smaller than 0.00000843355 with the exception that the triumphant contestant received less popular votes. Body Regardless of the above surprising figures that strike the ardent voters with awe, voting appears to be entirely irrational. It is time to realize that a single person’s vote does not have the power to change the outcome of the elections. You got to accept the reality that if your favorite candidate is going to lose or win, your so-called precious vote has got no part to play in his success or failure. The question remains unanswered that why do millions of people across the world take out time from their busy schedules to cast vote. I was too restless to know the strong desire of people for voting and a smart family member of mine expressed his views as, ‘what would happen if every one thought the way..? He further argued that democracy could be endangered if the masses of a country quit taking part in voting. To enlighten the dear readers with an important expression, this particular way of thinking is called ‘magical thinking’ I must add that it is a very mistaken belief when people start to develop strong, but unsound thoughts that their actions could have major influence on the life of others and others too will start behaving like they do. The power of magical thinking forces such individuals to participate in voting in order to evoke other individuals to do the same so that democracy can flourish (Howe 140). This appears to me very illogical and pathetic fallacy. You certainly should follow the path of magical thinking, but onl y if you are a very influential personality who can drive great traffic towards the polling stations otherwise you must refrain from adopting such a fallacious way of thinking. A close friend of mine who happens to be a political scientist believes that it is obligatory on every citizen to thrive democracy by using the power of voting. It is not just the case with the political scientists, but couple of friends of mine also believes that voting does not merely mean to influence the results of the elections. They say that voting is all about fulfilling your duty of a democrartic citizen (Roberts 18). Well, I would like to give greater knowledge to these obedient citizens that your reasoning fails on two solid grounds. First of all, a single citizen cannot contribute in the establishment of a thriving democracy as it is a matter of collective efforts. Failure in a democratic system is not prone to participation of citizens in voting, but there a combination of factors due to which dem ocracy could collapse. Besides, if it is only a matter of fulfilling one’s civic duty as a democratic citizen then why do people not vote randomly? We see people rushing to the polling stations to vote for their favorite candidate with the strong desire to snub the opponent, but no one really recognizes voting as a part of

The Battle of Guadalcanal Term Paper Example | Topics and Well Written Essays - 1250 words

The Battle of Guadalcanal - Term Paper Example However, by August 1942, the American marines landed on the Guadalcanal’s northern beaches after the firing of Navy ships ahead of them. About three months later, the Marine managed to secure the airfield, as well as about six miles wide on the beach section (Braun and Alexander 232). This paper thereby drills deep into the Battle of Guadalcanal, its operations, and scrutinizes the Allied and Japanese leadership during the war. Allied forces, predominantly from America, landed on Guadalcanal by 7th August 1942, seizing an airfield that had been under construction by the Japanese military- the airfield was later named as Henderson Field (Coggan 162). Subsequently, several attempts and efforts made by the Japanese Imperial Navy and Army tremendously failed as they used ships to deliver reinforcements to Guadalcanal, with a sole aim of recapturing the airfield. By early November, 1942, Japanese military organized a transport convoy that would take about seven thousand infantry tr oops and equipment to the island of Guadalcanal- their core intent being to make an attempt once again, which would aid their struggle to retake the airfield. According to Braun and Alexander, lots of Japanese warships and forces were allotted to attack the Henderson Field with a central aim of destroying Allied aircrafts, which posed threats to their convoy (248). After observing and learning the Japanese efforts of reinforcement and retake, the United States military forces launched warship and aircraft combats in order to defend the Henderson Fields, and hence prevent or bar the Japanese navy and ground troops from nearing the Guadalcanal area. Braun and Alexander reveals that for strategic purposes, the possession of an airfield or airbase within Guadalcanal was vital to the control of sea-line-communications between Australia and the United States (241).

The Perceived Social Impacts of the 2006 Football World Cup Research Paper

The Perceived Social Impacts of the 2006 Football World Cup - Research Paper Example From a general point of view, the authors discussed all the positive and negative impacts that previous authors have associated with sporting events. The article then narrows down to the specific case of the 2006 football world cup. A close analysis at the world cup event reveals the presence of both positive and negative social impacts. These reviews will highlight the key findings from the research conducted by the authors. The article offers an extensive literature review on the perceived social impacts of sports events. This lays a good background for the research conducted by the authors. From the literature review, it emerges that sports events register some critical positive impacts such as a sense of pride, entertainment opportunities, shared experiences, promotional of regional identity, the introduction of new ideas, expansion of cultural perspectives, validation of community pride, as well as increased community participation. On the other hand, sports events present some undesirable negative social impacts such as theft, noise, bad fan behavior, traffic congestion, social dislocation, community alienation, and prostitution. In order to investigate the social impacts registered by 2006 football world cup, the authors adopted the approach of measuring host community perceptions. This method has the potential of identifying different perceptions held by different individuals in the host community . As highlighted by the authors, the subjectivity of this approach is its main disadvantage. The authors relied on face-to-face structured interviews with selected Munich residents. They made use of questionnaires, which were filled in by the interviewers. Random sampling was used to identify the participants from different suburbs of Munich. The authors identified 180 responses, but only 130 interviews occurred. Notably, the researchers ensured that the participants were from different age groups.

Report - analyse of policy Term Paper Example | Topics and Well Written Essays - 1750 words

Report - analyse of policy - Term Paper Example The anonymity policy of the organization is elaborately dealt with in the report and the report seeks to offer certain recommendations based on the findings of the analysis of the policy. The significance of lifeline services have increased immensely as the modern man’s life has become more complex, more problems centered, tensed and emotionally turbulent. In this respect, the tele-counseling services of lifeline 13 11 14 in Australia deserves primary importance as the Australian lifeline answers around 450,000 calls per year from people needing emotional support from almost all parts of the nation. For over 45 years Lifeline has provided Australians with access telephone counselling service for mental health support. Counseling involves a partnership between a client and a mental health professional â€Å"such as a psychologist who is licensed and trained to help people understand their feelings, and assist them with changing their behavior† (Counselling and Therapy). All lifeline staffs are trained to deal with Lifeline callers. The customer friendly policies of the Lifeline in Australia make it unique and approachable to all sects of people: the serv ices of the lifeline are open to all and it offers counseling service that ‘respects everyone’s right to be heard, understood and cared for† (Lifeline: About 13 11 14. 2008 ). The lifeline offers services on many sensitive issues such as family and relationship issues, mental health concerns, suicide prevention and support, abuse and violence, loneliness and life direction, taking into account the fact that the needs of the people can vary â€Å"genders and age groups and between rural and metropolitan areas† (Lifeline: About 13 11 14. 2008 ). The major aim of the lifeline telephone counselors is to provide emotional support to the needy customers in order to enable them to face the challenges of life rather than running away from them. This report analyses the

Social Media Research Paper Example | Topics and Well Written Essays - 2500 words

Social Media - Research Paper Example Social media, however, brings about pervasive and substantial advancements to communicate between individuals, communities, and organizations. Despite the broad used of social media, it has disadvantages as well as the advantages it has brought into communication. This research paper discusses various perspectives concerning social media, its growth, advantages, and disadvantages it has brought to the current generation. Social media is different from industrial/traditional media in a number of ways including, reach, usability, quality, frequency, permanence, and immediacy (Mandiberg, 2012). Studies depict that, there are many positive and negative effects, which stem from social media usage. Such studies show that many people spend more time on social media sites than the time they spend on other internet sites (Gupta, Brooks & Vines, 2013). Simultaneously, the total time that Americans spent on social media networks using computers and portable devices increased by thirty-seven per cent to an approximate of hundred and twenty-one billion minutes in the year 2012, with comparison of eighty-eight billion in the year 2011 (Mandiberg, 2012). ... The mobile food owner was not interested in using social media networks. Afterwards, he decided to give Twitter a try. Using this social media network as an advertising tool, he was able to keep his customers up to date about his new location, new types of food, and special offers of each day. Because of using social media networks to advertise his business, his sales gradually increased since he was able to reach new and a large group of customers more easily. This means that social media is useful to the US people since entrepreneurs are now able to advertise their business at a low cost advertising approach hence increase their sales through offline and online marketing. Many business owners are currently making use of social media networks as a means of advertising their businesses. This is through posting business blogs and uploading product’s images on various social media applications as well as creating business websites. Friedman (2011) tries to show how social media networks have really contributed to the advancement of many businesses across the world. Mangle & Zaveri (2013) article explains how social media has resulted reputation building, career opportunities, and increase of monetary income. The article talks about a case study of how the current large private and public companies employ social media to engage and attract new customers. Students at a certain college use the case study to determine the issues that social media can bring to the world. The students use social media in their project to teach them how to determine goals and for planning a supportive strategy to help them reach their goals. Mangle & Zaveri (2013) try to outline that, social media poses more advantages to

Duckett family Essay Example for Free

Duckett family Essay The current trend of journalism organizations to hire â€Å"screaming journalists† like Nancy Grace and others is a disservice to the Fourth Estate and threatens the very notion of a free press. Grace and others of her ilk are not reporters seeking the news for its value to the general public nor are they attempting to inform. These confrontational entertainers are more interested in high ratings and controversary than in the news. Furthermore, their lack of general human compassion is endangering the entire profession. Never is this more clear than in the case of the family of Melinda Duckett vs. CNN and Nancy Grace. In September, 2006, Melinda Duckett’s two-year-old son was reported missing and Duckett agreed to appeared on Grace’s show in an effort to promote the manhunt for her missing child. Grace was belligerent and in the woman’s face, screaming at her because she would not discuss her whereabouts when the child disappeared and accusing the woman of having something to do with her child’s disappearance. (Smoking Gun, 2006). Duckett’s son has still not been found, but a day after the interview with Grace, the woman shot and killed herself with a shotgun. In the days following Duckett’s death, Grace not only aired the original interview berating the distraught woman, but she went on the nightly news herself, defending her interviewing techniques. â€Å"Former prosecutor turned talk show host Nancy Grace is unapologetic about her aggressive approach to a mother who committed suicide after an interview about the womans missing son,† ABC News reported (â€Å"Nancy Grace says ‘Guilt’). Grace showed no human compassion for the mother in the interview or in the days after her death. Drawing on her history as a criminal prosecutor, Grace attacked in a manner more appropriate for a courtroom than a newsroom. That is not to say that reporters should not ask tough questions, but they should not browbeat an interviewee and speak over them as is reported Grace did. Reporters have a responsibility to seek out the news not make it. In her attacks on Melinda Duckett, Nancy Grace went beyond the level and stepped back into her prosecutorial role, attempting to find the criminal. â€Å"How is that questioning doing anything but making a person in a desperate situation feeling even more desperate? said Hub Brown, a professor at Syracuse Universitys Newhouse School of Communications. â€Å" (ABC News) Grace defended her unrelenting questioning as a serach for truth and said police later agreed with her that Melinda Duckett is a suspect in her son’s disappearance. What police actually said was that in a child disappearance, the parents are always the initial suspect. Almost a year later, Duckett’s son has still not been found. What has happened, however, is that Grace has put all legitimate journalists in danger of having their rights revoked due to her drive for ratings. In November, 2006, the parents of Melinda Duckett filed a lawsuit against Grace, CNN and Duckett’s estranged husband who helped arrange the Grace interview (Smoking Gun). And, in June, 2007, a Florida court ruled that the case had merit and would be tried in federal court because the participants reside in multiple jurisdictions (â€Å"Ruling in†¦Ã¢â‚¬ ). By bringing this kind of unwanted spectacle to the media, Grace is causing a chilling effect that will lead to fewer people wanting to cooperate with the media and could ultimately lead to a restriction in the rights of journalists. Her lack of basic human compassion is more relevant than whether Melinda Duckett killed or abducted her own son. The role of the media is not to determine the truth, but to report that truth after it has been exhibited by others. While some investigative journalists might argue this point, the reality is that even investigative journalists do not draw their own conclusions about the news. They search for facts and report them. Nancy Grace took facts not in evidence and applied them to the Duckett case, making herself judge, jury and prosecutor of Melinda Duckett without giving Duckett the benefit of a defense attorney. Grace, however, insists her line of questioning was reasonable. â€Å"In an exclusive interview with Good Morning America today, Grace said that she takes no responsibility for Ducketts suicide. If anything, I would suggest that guilt made her commit suicide, Grace told ABC News Chris Cuomo. To suggest that a 15 or 20 minute interview can cause someone to commit suicide is focusing on the wrong thing, she said. â€Å" (ABC NEWS) Grace’s attitude in the wake of Duckett’s suicide is another black eye for the face of journalism. Her unapologetic accusations against the dead woman seemed to indicate that she believes her questioning was appropriate even if it did contribute to Duckett’s death. Her claim that â€Å"even the police agree with me† (ABC News), does little to redeem Grace in the eyes of the general public. Instead, she is seen as so concerned about her ratings that she would put them above human safety. That attitude seems to be in evidence on her webpage. Grace actually advertises for crime victims to call her show and become part of the entertainment value of the news (CNN. com) Though she places her calls for tips in the framework of helping crime victims seek justice, her show advocates her â€Å"Cross Exam† and her prosecutorial drive to find the answers to crime. If Ms. Grace believed that rooting out crime was her calling, she should not have left the prosecutors office for the media. Her style of â€Å"journalism† is an insult to those who attempt to keep the Fourth Estate free of bias and predetermined opinions. Instead, based on her experience, Grace makes judgments calls about people’s guilt as she did with Melinda Duckett and â€Å"reports† the news based on her interpretation of events. She had an exclusive interview with the mother of a missing child, a child police still presume to be alive. Instead of carefully crafter questions designed to help authorities and the general public find the missing boy, Grace decided that badgering Melinda Duckett would mean better ratings. For the sake of the industry, one can only hope that the Duckett family attorneys cannot prove that greed and not news was Grace’s motivation. If they prove that she sought ratings over the truth and therefore did contribute to the death of Melinda Duckett, the chilling effect on all media will be extreme. Her unreasonably harsh questioning methods place all media attempts to get to the truth in danger and violates the most basic tenet of the Fourth Estate: to inform. Nancy Grace has no intention to inform the general public of anything the day she interviewed Melinda Duckett except for her own conviction that Duckett was responsible for her son’s disappearance. This kind of action has no role in journalism, but belongs in editorial and opinion pages, not disguised as news. WORKS CITED ABCNews. com. Nancy Grace says ‘Guilt’ Likely Made Mother Commit Suicide† http://abcnews. go. com/GMA/story? id=2448050page=1 , June 24, 2007. Nancy Grace Homepage. http://www. cnn. com/CNN/Programs/nancy. grace/, June 24, 2007. â€Å"Ruling Made in Duckett-Grace Case† http://www. local6. com/news/13533994/detail. html? rss=orlpnpsp=news,, June 24, 2007. The Smoking Gun, â€Å"Nancy Grace Sued for Wrongful Death† http://www. thesmokinggun. com/archive/1121061grace1. html ,, June 24, 2007.

Importance of Culture Essay

Importance of Culture Essay Introduction: Culture is the characteristic of group of people defined by everything such as language, religion, lifestyle etc. Different people in different societies have different culture but they also have some similarities. The culture varies in different things such as clothes, foods, religion and many others. Culture is the identity of a group of people living in specific place; they have their own sketch of life what the culture says they follow that. We have seen that a lot of people do some specific thing they first thought about their culture, what my culture says on this occasion. Especially on the occasion of wedding, and some other celebrating days they follow strictly their culture. Those who do not follow their culture or do some changes in that, they havent give any values to them because they are not following their religion. Different people define culture in different ways, for example Culture: learned and shared human patterns or models for living; day- to-day living patterns, these patterns and models pervade all aspects of human social interaction. Culture is mankinds primary adaptive mechanism1. Another author says that Culture is the collective programming of the mind which distinguishes the members of one category of people from another.2. from these definitions it is clear that both explains the same idea but in different words, says that culture is first learned after learning it is then shared so its a common fact that the younger first learn the culture from their elders and when these young become elders they transfer it to the next generation. But the culture learned it includes all the aspects of human interaction and thus it become the mankinds adoptive mechanism. In the second definition the author says that the culture is the programming of mind so it includes everything related with the mind programming and because of these different minds programming different group of people distinguish from each others. Characteristics: Culture has its own characteristics; we will discuss some of its characteristics here. Learnt Shared Social Continuous Adaptive Varies Learnt: As we discussed earlier that culture are learnt from their elders, culture is not the thing you study for it and you know it but it is just the process you pass from it, after that you will know about the culture. It is just like the thing that inherited in someone nature. All action the action we do like eating, dressing wearing ornaments etc is the result of culture we learned. One author says about learning culture Babies and children learn about their culture by watching their parents and close family. They copy behavior they have seen and adopt different roles3 and thats fact that babies and children learned culture by watching their parents and close family and then they apply these different roles in their Daily life and thus adapt their culture. Shared: Culture is something that is shared among groups of people. It is not the thing that someone posses it individually. Culture is always transferred through sharing so it mean that for transferring the culture the sharing is must. The sharing of culture refers to the term called enculturation according to author Process of learning culture is called enculturation4. Culture is shared in many ways; the main way for transferring the culture is the language. Language is the form of social communication and the knowledge is transferred through group discussion, public speaking and informal communication. The second way is the use of communication technologies nowadays like TV, DVD, internet etc play also important role in sharing the culture. These modern technologies have exposed every culture to the whole world. Social: Culture is social it is not the individual phenomena. it is the product of society and originates and grows through social interaction. Something is differentiable to us through comparison, so for distinguishes culture we have to compare it with some other then we will know about all aspects of that culture therefore the culture must be social and without it there is no concept of culture. One author says that culture can be thought of as the normative order, operating through operational and social influence, that guide and constrains the behavior of people in collectives5 .so from above statement it is clear that culture is the overall thought in a normative order, and these thoughts are pass through several operational and social influences, it means that their also occur some changes in culture but these changes are collectively and thus people of that culture adopt their behavior to the culture. Continuous: Culture is the continuous process, Culture is growing whole which includes in itself, the achievements of the past and present and makes provision for the future achievements of mankind. Culture is the result of past and present changes that occur in it, and thus it absorb that changes in itself and the culture become the result of past and present experiences and the process continue to next generation and so on. Hence some sociologists like Lotion called culture the social heritage of man6. Adaptive: Culture is always adaptive, even changes occur in culture but is very slow process and generally it is adaptive to all the people associated with that culture. when their occur some changes in the culture then at the same time people become use to with it and thus they feel nothing about their culture even people of other cultures will says anything about that culture but the people of that culture they are adapt with it. One author says about it that The biological modifications and adjustments are always flexible to adapt even in the harsh conditions of the environment7.it means that the changes occur in the culture is flexible, easy for everyone to follow. Varies: Culture always varies. All the elements of culture like dressing, ways of eating, speaking etc varies from society to society. In every culture there always changes occur in some interval of time, almost the changes speed is very slow but we never say that culture is not variable. Types of culture: There are several types of culture: Material culture Dressing Food Buildings Non-material culture Language Family Religion Education Material culture: Material culture includes all those things that people creates and gives meaning to it. Material culture include lot of things, some of them are given below: Dressing: Dressing is the important thing in culture. It identify the cultural society, for example when a stranger from other country come to Pakistan and he know little about here culture dressing so he will definitely identify the place. Every culture gives most importance to their culture. They did not appreciate those who are not wearing their own cultural dress. Gradually the dressing importance is also disappearing from the people. There a lot of people when they goes to the other cultural society, they adopt that and forget about their culture. According to my survey I have done some days ago a lot of people say that we are not giving so much importance to our culture. Nowadays the culture is changing so much fast because of this reason that the people not giving so much importance to their culture, especially dress. Food: According to the Colombia university press everything having to do with foodÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‚ its capture, cultivation, preparation, and consumptionÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‚ represents a cultural act8 so definitely food when reach to us first it pass from different stages like its cultivation, every culture has its own process of cultivation, capturing and preparation. This mean that food is also one of the important part of the material culture. Buildings: Building means construction. Building also plays important role in culture identity. Different cultures have different type of buildings. Some cultures have big houses while some have small. There are also some cultural people who dont construct houses also, all life they pass in different places. Usually the cultural people from rural areas have big houses while those living in the city have small houses. The reason may be in rural areas the population is so much low and the place available for the house is very cheap as compare to the city. May be of this reason this culture is raised in the rural areas. Non-material culture: Non-material culture consists of thoughts and behavior that people learn as part of the culture they live in. It includes language, rules, customs, family, religion or beliefs, values, and knowledge. We will discuss some of them; Language: Language is one of the most important forms of material culture, without language there is no concept of culture. Different cultures have different speaking of language. Even when the language is same between the two cultures but still there will be difference in speaking and one will easily difference between them. Sometime because of cultures a large number of cultures are treated as one culture, for example in Pakistan there is a lot of cultures but still to the out countries they treat as just like one culture and is known as Pakistani culture. Even subcontinent is also treated as one culture but this in a specific occasion for example Asia is the largest subcontinent but the countries outside the Asia also says the words like Asian culture and we says the European culture or African culture. Language is the root cause of culture. Humans learn their culture through language, the parents first learned language to the kids after that they gradually also learn their culture. Family: Family is one of the most important concept in the culture. Different cultures define family in different ways. Some says that those who have a blood relation with you is your family member, other says that only your wife and kids are included in your family. According to an author Anthropologists say a cultures biological and marital kinship rules and patterns of reciprocal obligations define family9, the definition varies of different cultures. The people from rural background define family in a large sense they include all of their relatives in the family and those from urban background define family in a little narrow sense as compared to the urban background people. Religion: Religion is the most important in cultural society. In most of the culture the religion is very respectful to all of the culture members and they also strictly obey their religion. And the most respectful religion among all the culture is Islam. Those cultures that have Islam as religion they apply the order of Islam in their daily life and mostly these people led a very happy life without much resources. According to my survey a lot of my audience says that they follow their religion strictly and says five time prayers which is the most important thing as considered to Islam, and those audiences whose religion was other than Islam they mostly says that we are not so much following our religion. Education: Education also play important role in building a cultural society. Education is the basic need of human. Without education humanity is not possible, therefore almost all the cultures gives importance to education and they possess only education for their success. But still there are also so cultures which do not gives focus to education. Some cultures give importance only to boys education and not to female. The number of these types of cultures is decreasing slowly. In general most cultures gives importance to education and they love the educated people of their culture. Importance of culture: Culture has great importance. Culture is the identity of the nation, without culture the society is impossible. An author says about the importance of culture that culture is the set of transmitted and learned behavior patterns, beliefs, institutions and all other products of human work and thought that characterize the functioning of particular population, profession, organization or community10, so the only representative of the particular community or population is the culture. Culture is the basic root of any community which gives them the ways of life. The culture provides solution to the critical problem that is faced to community. Culture teach us to think for the whole nation not individually, it provide the concept of family, nation etc. References Damen, L. (1987). Culture Learning: The Fifth Dimension on the Language Classroom. Reading, MA: Addison-Wesley Hofstede, G. (1984). National cultures and corporate cultures. In L.A. Samovar R.E. Porter (Eds.), Communication Between Cultures. Belmont, CA: Wadsworth. http://open.jorum.ac.uk/bitstream/handle/123456789/13597/025/access/culture.html Understanding culture (DatoDr Sothi Rachagan) (Kotter and heskatt, 1992, reusseau, 1990) http://www.preservearticles.com/201107048767/1321-words-short-essay-on-the-culture.html http://savior.hubpages.com/hub/Characteristics-of-Culture food is culture (Massimo montanari nov. 2006) The Definition of Family in a Free Society (Gordon Neal Diem, D.A. 1997) hofstede G. culture and organization. New York: MC graw-hill; 1997

Automobile Sector Analysis: Five Forces and SWOT

Automobile Sector Analysis: Five Forces and SWOT 1. Overview of the automobile sector Five forces analysis Competitive Rivalry between Existing Players: High Competition between existing automobile companies is high. Although the automobile market was dominated by the three big auto manufacturers in US, Toyota and Honda in Japan, the situation is changed. With the growing demand in emerging market, the emerging competitors in China and India may drive an intensified price competition. However, the competition could also focus on the safety, warranty and financial services etc. Threat of New Entrants: Medium Although the entrant barrier is high for the automobile industry because the requirement of capital and technology, an increasing number of automobile manufacturers are emerging in China and Asia due to the economic expansion and growing demand. However, these automakers are in the development status and may not catch up the leading technology in Japan and US, so the threat from new entrants is medium. Threats of Substitutes: Low Customers could choose to switch to transportation means other than automobile such as bicycles, buses and subways. However, the automobile is still the favourite despite the relevant high cost than other mentioned transportation means because its flexibility, comfort and convenience. Bargaining Power of Suppliers: Low In automobile industry, the component supplier has little bargaining power because the manufacturer could switch to other suppliers easily. On the other hand, the components are generally low value and the suppliers find it difficult to bargain with automakers. Bargaining Power of Customers: High The competition in the automobile industry is intense as mentioned above. So the customers have many choices on the brands and models. Customers care about the quality, price, safety, comfort, appearance of the car. Recently, customers are also more and more concerned about the environmental effect of the automobile and the energy efficiency. So the customers get more and more bargaining power in automobile industry. 2. Toyota Motor Company 2.1 Overview of the company Company profile Toyota Motor Corp. is one of the largest and leading automobiles manufacturers in the globe. It operates in three main business segments; the two biggest are automobile and financial services whereas the third one is comprised by many smaller other divisions. It is spread worldwide as it has 50 manufacturing facilities in 27 countries and regions Toyota designs, manufactures and sales passenger cars of several types and utilities, trucks, tractors and material handling equipment, minivans and other car accessories. Its products can be divided into 2 main categories, conventional and hybrid vehicles. The company sells its products under Toyota, Lexus, Hino and Daihatsu brands The company is also engaged in the financial industry as it provides financing to its customers and dealers. It is also involved in housing, marine, e-commercial, ITS and biotechnological activities. Toyota sells its vehicles in more than 170 countries and regions worldwide. Toyotas primary markets are Japan, North America, Europe and Asia. It is headquartered in Toyota City, Japan and employed around 316,121 people as on March 31, 2008 Strategy Analysis Toyotas strategy can be summarised under three key principles; growth, efficiency and stability. These are the three priorities the companys management will pursue to achieve future sustainable growth and increase the economic value. Growth will be achieved through continuous investment mainly in hybrid vehicle segment to meat the increasing demand. Efficiency is mainly focused on cost management and further reduction in order for the company to be able to provide high quality products in affordable prices and maintain its competitive advantages. Stability will be ensured by maintaining a solid financial base. Within the economic downturn it is important for Toyota to maintain sufficient liquidity in order to continue to finance its investments in research and development of new technologies, which is an integral and essential part of the companys advantages. Peer Group As Toyota operates in the global market its competitors come from all around the world. Its major competitors are BMW AG, DaimlerChrysler AG, Fiat S.p.A., Ford Motor Company, General Motors Corporation, Honda Motor Co. Ltd., PSA Peugeot, Renault S.A., Volkswagen AG and many others SWOT Analysis Strengths Weaknesses Strong overall financial performance Strong reputation and quality Strong position is Asian market Research and development Production pipeline system and cost management Diversified product portfolio Financial services are still undeveloped Huge expenses on pensions and post-retirement benefits Opportunities Threats Increasing demand for hybrid and environmental-friendly cars Expansion in emerging Asian markets Financial and other non-auto division development New car models Global economic crisis Strong competition in automotive industry Yen and US dollar exchange rates Tight environmental regulations on carbon emissions Problems with specific components of sold cars. (Recent brake problem) 2.1. Key Financials Analysis 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Sales 207,852.40 264,120.58 202,821.01 178,294.05 173,443.60 Operating Income -4,667.52 22,809.82 18,959.84 15,919.51 15,192.39 Net Income Available to Common -4,423.79 17,259.05 13,923.62 11,629.63 10,950.45 Total Assets 292,725.95 324,979.61 275,051.76 242,604.35 227,515.08 Total Liabilities 185,398.39 199,132.47 169,488.89 148,104.55 138,230.49 Common Equity 101,865.07 119,249.79 100,242.15 89,502.94 84,563.86 Net Cash Flow Operating Activities 14,724.7 26,357.6 27,783.5 22,136.2 22,144.6 * IMPORTANT First year to report losses * Stable increase in sales Decline in 2009 greatly affects income * Severe decrease in cash flow from operating activities, nearly 50% * Very big difference between sales and operating income points out severe cost expenses for the company. As this differences is constantly increasing it is not far from the truth to say that Toyota is gradually loosing its competitive advantages in cost efficiency against its competitors. * General trend in key financial s shows a steady and permanent increase until 2008 and a sharp decline in 2009, due to severe problems of economic recession and its great impact on automobiles industry. This trend applies for almost all financial s, pointing out that the companys performance as a whole followed a movement like this. 2.3. Multiples analysis 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Price To Earnings -22.43 9.19 14.74 15.25 11.23 Price To Book 0.97 1.32 2.04 1.97 1.44 Price To Cash Flow 7.41 4.83 7.83 7.80 5.87 Price To Sales 0.5 0.7 0.8 1.0 0.7 * Multiples follow companys general trend, namely increase until 2007 and then decreasing sharply * Consistent with overall picture of company, multiple analysis show the economic downturn of the entity from 2007 onwards * Point to mention: negative P/E ratio. Markets expectation about company looks really slim. The economic crisis, alongside with its severe problems generating income and its recently damaged reputation, create really unfortunate future prospects for Toyota. The negative P/E ratio and specifically its magnitude (-22) implies that nobody is neither willing to pay to buy the companys share nor expecting any profit generation. * Very sharp decline as well; 31.62 units is something extremely noticeable. If we focus on decline itself, it shows an extremely quick unfavorable turn of the market towards the company. 2.4. Companys performance 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Profitability Return on Equity -3.98 14.49 14.68 14.00 13.60 Operating Profit Margin -2.25 8.64 9.35 8.93 8.76 Asset Utilization Total Assets Turnover 0.71 0.81 0.74 0.73 0.76 Net Sales % Working Capital 28.93 180.70 1412.62 29.78 15.30 Gearing EBITDA / Interest Expense 20.94 86.19 77.33 153.70 146.20 Long Term Debt/ Common Equit 62.63 50.40 52.92 53.41 55.44 Valuation Investment Earnings Per Share -1.41 5.43 4.34 3.57 3.32 Dividend Yield Close 3.21 2.82 1.59 1.40 1.63 Liquidity Quick Ratio 0.81 0.77 0.76 0.81 0.87 Current Ratio 1.07 1.01 1.00 1.07 1.15 * Negative profitability in 2009 * Fluctuating sales/working capital as a result of fluctuation if investments (working capital) * Gearing increase in 2009 at the same time with high decrease of interest cover * Stable and quite low liquidity 2.5. Cash Flow analysis 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Cash Flow Operating Activities 14,724.7 26,357.6 27,783.5 22,136.2 22,144.6 Cash Flow Investing Activities (12,265.3) (34,254.0) (32,727.4) (29,704.4) (28,591.6) Cash Flow Financing Activities 6,967.4 6,242.7 7,565.6 7,716.8 3,917.0 Effect of exchange rates -1,294.04 -749.27 218.18 604.94 232.09 Net Cash Flow 8,132.86 -2,402.99 2,839.91 753.58 -2,297.85 * Severe decrease in cash flow from operating activities, nearly 50% which vividly affects its operating income * Extreme decrease in investing activities around 70%, probably caused by cash shortage and policy change. The company issued a new project with main goal to improve profits and cover operating expenses and as a result we see a large negative impact in new investments. * Financing activities exhibit a stationary trend over the past few years indicating the stable financial policy of the entity. * Adverse effects of exchange rates during the last two years indicating the risk the company runs because of the Yens depreciation to the U.S dollar and the Euro. 2.6. Stock Performance The companys share performance seems to move according to the index, with the trend to over perform it constantly. We can see the decline of the shares price, which started right before the end of 2008, following the global economic recession. At the turning point, which is in the beginning of 2009, we observe a relatively high trading volume, probably indicating the forthcoming upward movement. It is also really significant to point out the extreme high trading volume observed during the first months of 2010, followed by a new decline of the shares price. This reflects the problems that Toyota is facing nowadays. There is a considerable lack of trust from the market towards the company which is mainly caused by its severely damaged reputation and loss of quality. 3. Ford Motor Company 3.1 Overview of the company A . Company profile The group operates in two segments: Automotive and Financial Services. For the automotive segment which consists of Ford, Lincoln, Mercury and Volvo has a main operating activity in manufacturing, sale and service of component for cars and trucks. The Financial services segment is included of financing, insurance and leasing regarding to cars, trucks, industrial equipment, construction equipment and other activities. The company has operation in North America, South America, Europe, Africa and Asia- Pacific. B. Strategy Analysis  · One Ford The Company has initiated the new strategy called â€Å"One Ford† which has detail as follow: o ONE TEAM focuses the significant of team work in order to reach the automotive leadership. The measurement is satisfactory of business partners, employees, investors, and related companies. o ONE PLAN: The four-step plan has been established which composed of: balance between cost structure and revenue; develop new product follow customer preference; develop balance sheet status and finance the plan; and cooperation around the world to leverage companys resources. o ONE GOAL: That is â€Å"to create an exciting and viable company with profitable growth for all†. Ford has started the restructuring business process before the economic crisis which the Company has reduced the excess capacity, closed some unprofitable plants and lower excess workforce. In addition, Ford has improved the product line in term of higher quality, more safety, use less energy and more economic. * Affordable Fuel Economy: Focusing on deliver fuel efficiency engine to the market. For example, the 2010 Ford Fusion is now Americas most fuel efficient midsize sedan for both the hybrid and conventional gasoline models. * Electrification strategy: plan to bring pure batteryelectric vehicles, next-generation hybrids and a plug-in hybrid to market quickly and more affordably over the next four years. * Safety leadership: Ford got totaling 16 models picked from the Insurance Institute for Highway Safety which more than other brands. * EcoBoostâ„ ¢ Engine: delivers significant gains in fuel economy along with a great performance drive feel. C. Peer Group Fords peer group is Daimler AG, Fiat Spa ¸ Honda Motor Company Limited, Motors Liquidation Company, Nissan Motor Company Limited, Toyota Motor Corp and Volkswagen AG. D. Fords SWOT Analysis Strengths Weaknesses l Wide geographic Operate throughout the world and has a strong market in North America, Europe and Asia. Sales of each region of 2008 are 49%, 39% and 12% respectively. The well diversified market of ford reduces the risk of economic problem in specific area. l Brand royalty Ford has renowned reputation about quality and also owns other renowned brands such as Lincoln, Mercury and Volvo. l Quality car Ford owns totaling 16 models of car that rated as safety car by the Insurance Institute for Highway Safety l Product Recall Experienced many recalled products due to the quality of defective cruise control switch which may cause fire. Even though there is no fire cases reported but the Companys reputation is negative affected. l Negative operating result l Low gross margin GSKs long-term debt increased by 115.5% in 2008, which may lead to problems such as heavy interest payment, risk of having too little working capital and even increasing possibilities of bankruptcy. l Too much long-term debt This may lead to problems such as heavy interest payment, risk of having too little working capital and even increasing possibilities of bankruptcy. Opportunities Threats l Expanding market in emerging market Ford has a plan to expand its sale in the emerging market which has great buying power in the future. l Eco-friendly engine Ford has high reputation in the eco-friendly engine such as hybrid engine which has very promising market. l Fuel efficiency Ford found another opportunity in the market for fuel-efficient in small and middle car. l High competition Due to new competitor, lower demand and excess capacity. l Economic crisis Economic crisis and regression in USA where is the main market of Ford caused severe effect to the Company. 3.2. Key Financial Analysis Source: ThomsonFinancial Scaling Factor : 1,000,000 USD Currency: USD 12/31/08 12/31/07 12/31/06 12/31/05 12/31/04 Net Sales or Revenues 146,277.00 172,455.00 160,123.00 177,089.00 171,652.00 Operating Income 3,518.00 8,031.00 -8,167.00 7,010.00 10,681.00 Earnings Before Interest And Taxes (EBIT) -4,885.00 6,792.00 -6,689.00 9,354.00 11,669.00 Interest Expense On Debt 9,682.00 10,927.00 8,783.00 7,643.00 7,071.00 Net Income Available to Common -14,681.00 -2,764.00 -12,615.00 2,441.00 3,634.00 Total Assets 215,773.00 276,459.00 275,337.00 264,891.00 294,447.00 ST Debt Current Portion of LT Debt 63,972.00 61,052.00 62,456.00 59,904.00 66,433.00 Long Term Debt 90,716.00 107,478.00 109,593.00 94,428.00 106,540.00 Total Liabilities 231,889.00 269,410.00 277,643.00 250,812.00 277,525.00 Common Equity -17,311.00 5,628.00 -3,465.00 12,957.00 16,045.00  · Net sales decreased from 2007 about 15% as the economic crisis in the State which is the main market of Ford. The Company has had substantial losses from operation since 2006.  · Ford has high outstanding of long-term loan which may causes liquidity deficiency or bankruptcy if the Company still has continuously loss in the future.  · As a result of net losses from operation since 2006, Ford has had negative shareholders equity since then. 3.3. Multiples Analysis MONTHLY HISTORICAL MARKET PRICES Y2008 Y2007 Y2006 Y2005 Y2004 January 6.64 8.13 8.58 13.17 14.54 February 6.53 7.91 7.97 12.65 13.75 March 5.72 7.89 7.96 11.33 13.57 April 8.26 8.04 6.95 9.11 15.36 May 6.80 8.34 7.16 9.98 14.85 June 4.81 9.42 6.93 10.24 15.65 July 4.80 8.51 6.67 10.74 14.72 August 4.46 7.81 8.37 9.97 14.11 September 5.20 8.49 8.09 9.86 14.05 October 2.19 8.87 8.28 8.32 13.03 November 2.69 7.51 8.13 8.13 14.18 December 2.29 6.73 7.51 7.72 14.64 . 5 Year 5 Year VALUATION Y2008 Y2007 Y2006 Y2005 Y2004 Y2003 Growth Rate Average P/E Ratio (High) -1.36 -6.93 -1.41 12.94 9.63 34.66 -1.04 2.57 P/E Ratio (Low) -0.16 -4.75 -0.90 6.64 7.01 13.16 -1.01 P/E Ratio (Close) -0.35 -4.81 -1.12 6.77 8.13 32.00 -1.01 1.73 Price/Sales 0.04 0.08 0.09 0.09 0.18 0.18 -0.80 0.10 Price/Book Value -0.32 2.62 -4.14 1.14 1.74 2.62 -3.94 0.21 Price/Cash Flow 0.44 1.24 1.76 0.70 1.11 1.35 -0.67 1.05 Price/Working Capital 0.00 0.00 0.00 0.00 0.00 0.00 -0.16 7.78 TARenderChart.png * P/E ratio turned to be negative since net losses from operation since 2006 and also the market price has continuously decreased from 8.58 in the beginning of 2006 to 2.29 at the end of 2008. * P/B ratio had negative value in 2008 from the negative book value of Ford. 3.4. Companys performance Worldscope Currency: USD PROFITABILITY RATIOS 12/31/08 12/31/07 12/31/06 12/31/05 12/31/04 Return On Invested Capital 0.25 1.92 1.95 2.95 3.32 Operating Profit Margin 2.43 2.94 3.12 5.02 6.54 ASSETS UTILIZATION RATIOS Asset Turnover 0.63 0.60 0.59 0.59 0.58 Net Sales Pct Working Capital 10.62 6.21 5.68 11.06 41.64 LEVERAGE RATIOS EBITDA / Interest Expense -0.50 0.62 -0.76 1.22 1.65 LT Debt Pct Common Equity -76.88 233.49 316.38 1,268.12 1,229.66 LIQUIDITY RATIOS Quick Ratio 1.05 1.08 1.12 1.08 1.03 Current Ratio 1.21 1.25 1.30 1.25 1.19  · Profitability ratios do not show the good performance as Ford has had net loss from operation since 2006.  · Leverage ratios also go in the same trends as a result of negative equity and high outstanding balance of long-term loan.  · Liquidity ratios present that Ford still can generate cash to supply its working capital but if consider to the long-term debts Ford may cannot provide enough cash to support its debt payment since these ratios are still in the low range compared with its debt outstanding amount. 3.5. Cash flow analysis Source: ThomsonFinancial Scaling Factor : 1,000,000 USD Currency: USD 12/31/08 12/31/07 12/31/06 12/31/05 12/31/04 Net Cash Flow From Operating Activities -179.00 17,074.00 9,609.00 21,674.00 22,591.00 Net Cash Flow From Investing Activities 3,143.00 6,457.00 24,862.00 -7,462.00 8,567.00 Long Term Borrowings 42,163.00 33,113.00 58,258.00 24,559.00 22,223.00 Inc(Dec) In ST Borrowings -5,120.00 919.00 -5,825.00 -8,591.00 4,937.00 Reduction In Long Term Debt 46,299.00 39,431.00 36,601.00 36,080.00 36,021.00 Net Cash Flow From Financing Activities -9,104.00 -5,242.00 15,273.00 -20,651.00 -14,226.00  · The Company cannot generated sufficient cash from operation and had negative net cash flow from operation. Moreover the Company had to pay interest expenses for loans and had high net cash paid for financing activity. 3.6. Stock market performance  · Ford shares have been traded lower than SP500 since 2001 until 2010. Especially since 2006 that the operating results had continuous substantial losses. 4. Honda Motor Company Limited 4.1. Introduction Honda Motor is one of leading automobile manufacturers in the world. The company develops, manufactures and markets automobiles, motorcycles and power products. The company also provides financing services to the dealer and customer for the sale of products. Honda has global operations in areas including North, South and Central America, Asia, Middle East, and Europe with its headquarter at Tokyo in Japan. Strategy analysis Honda Motor has three strategies. They are â€Å"Staying Close to Customers†, â€Å"glocalization† and â€Å"five region strategy†. Staying close to customers mean the maintenance of the qualities of a small company, Provide value product with flexibility and efficiency as a small company does and maintain global reach and technology advantage as a large company does is the drive to the future growth of Honda. Glocalization means the effort to launch subsidiaries in regions that could best meet the demand of local customers and expand the subsidiaries as the local demand increases. Five region strategy requires the operations focus on five areas the world. They are North America, South America, Europe/Middle East/Africa, Asia/Oceania and Japan. The management decisions are served to suit the situation in different areas. The advanced RD capacity equips the Honda to provide flexible products to adjust the need of these regions. Business activities The company operates through four business segments: the automobile business, motorcycle business, financial services, and power products. The automobiles business division manufactures passenger cars, multi-wagons, minivans, port utility vehicle, sports coupe and mini vehicles. Hondas automobiles use gasoline engines of three, four or six-cylinder, diesel engines and gasoline-electric hybrid systems. Honda also offers alternative fuel-powered vehicles such as natural gas, ethanol, and fuel cell vehicles. In 2008, the company sold 3,925,000 units of automobiles. The motorcycle business produces a range of motorcycles, including scooters, electric-motor-assisted bicycles, sports bikes and large touring cycles. Hondas motorcycles use gasoline engines developed by Honda that are air or water cooled, two or four cycled, and single, two, four or six cylinder. In 2008, the company sold a total of 9,320,000 units of motorcycles. Honda offers a variety of financial services to its customers and dealers through its widespread finance subsidiaries. Hondas power products manufactures a variety of power products including power tillers, portable generators, general purpose engines, grass cutters, outboard engines, water pumps, snow throwers, power carriers, power sprayers, lawn mowers and lawn tractors (riding lawn mowers). Honda also manufactures the major components and parts used in its products, including engines, frames and transmissions. Peer Group The globalization of the Honda motor makes it face the global intense competition. The competitors include Ford Motor, Nissan Motor, Toyota Motor, Volkswagen etc.(in the automobile sector) and Yamaha Motor, Harley-Davidson etc.(in the motor vehicle industry). SWOT Analysis Strengths Weaknesses l Global diversification The company operates a total of 397 subsidiaries, and 104 affiliates all over the world. l Leading market position and good brand image Honda is one of the largest vehicle and motorcycle manufacturers over the world with strong brand strength. l Strong Research and Development capacity The large investment in RD could equip Honda the capability to differentiate itself in the intense competitive market. l Declining Market Share in Sector Evident of decline in unit sales and lost of market shares in the automobile industry. l Low employee productivity Honda has a weak proportion on the number of employees and the revenues. Opportunities Threats l Growing demand in Asian market Honda has taken measures to occupy the huge potential Asian market. l Growing demand in hybrid electric vehicles The companys emphasis on hybrid technology innovation will capture market trends as an opportunity to enhance its market share. l Global competition The competition would result in price pressure and thus reduce the profitability. l Tightening emission regulations The emission standards will cause Honda to occur more costs in product development, testing and manufacturing process design. 4.2. Key Financials Analysis Source: ThomsonFinancial Currency: JPY Scaling Factor : 1000000 JPY 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Sales 10,011,241.00 12,002,834.00 11,087,140.00 9,907,996.00 8,650,105.00 Operating Income 189,643.00 953,109.00 851,879.00 730,889.00 630,920.00 Net Income Available to Common 137,005.00 600,039.00 592,322.00 597,033.00 486,197.00 Total Assets 11,579,494.00 12,439,610.00 11,964,917.00 10,533,995.00 9,187,808.00 Total Liabilities 7,449,150.00 7,753,539.00 7,359,399.00 6,320,785.00 5,828,513.00 Common Equity 4,007,288.00 4,544,265.00 4,482,611.00 4,125,750.00 3,289,294.00 Net Cash Flow Operating Activities 383641 1126918 904525 576557 746624 l The operating income reduces dramatically, approximately 80% from the previous years result. This result is caused by the severe decline in the sales and the consequently increase in inventory cost. l Before 2009, all the s are in a healthy and steady upward trend. But in the fiscal year ended at 31st march 2009, the volumes all experienced a dramatic decline. They are caused by the sales plunge. l The declines trends are due to the economic recession caused by the financial crisis because the demand in Japan, US and Europe shrank. The automobile industry faces a severe challenge and most companies in the sector reported unsatisfactory results. 4.3. Multiple analysis 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Price To Earnings 30.7 8.6 10.3 Price To Book 1.0 1.1 1.6 1.5 Price To Cash Flow 4.6 4.2 6.8 Price To Sales 0.4 0.4 0.7 0.7 0.6 l Although the P/E ratio increases significantly, its not a good sign. The increase in P/E ratio is not due to the high expectation of the investors and the fundamentals such as growth opportunities. Instead, the soaring P/E is the result of the plummeting earnings to common shareholders. l The price to book ratio and price to sales declined in 2008 and 2009, indicating the declining

Racism in the Chesapeake Area Essays -- Chesapeake Area Racism Racist

Racism in the Chesapeake Area The Chesapeake area in the seventeenth century was a unique community that was almost absent of racism. In this community, at this time, property was the central and primary definition of one’s place in society. The color of one’s skin was not a fundamental factor in being a well respected and valued member of the community. Virginia’s Eastern Shore represented a very small fellowship of people that were not typical of the Southern ideals during this time period and gave free blacks owning property a great deal of respect and merit usually equal to that of any white man around. Racism, as a generalization, was a common and mostly unified way of thinking in the Southern states for a very long time and was in its prime during the seventeenth and eighteenth centuries. The first importation of slaves into Virginia was in late August of 1619 and was only briefly recorded by one colonist, John Rolfe. He recorded them as â€Å"20. and odd Negroes† and from this the black population slowly grew to about three hundred by the mid-century. One must understand that the attitudes towards the blacks that came to Virginia were not inevitable. This is a very important point to note when understanding how the free blacks came to be they way they were in Northampton, Virginia. It is not specifically known how Anthony Johnson came to own his â€Å"modest estate† or how he ended up in Northampton. Historians believe that his former master, Rirchard Bennett,...

What A Day! :: Computers Internet Papers

What A Day! Pamela, Pamela, Pamela, what can I say she is a typical modern day mother. At work she is the woman who takes care of everyone else, she is the one who brings cookies and cakes everyday to share with everyone. I can see her now in her maroon 2001 Chrysler Mini van with vinyl interior so that the children don't mess up the seats! Driving along with her flowered dress, hair band, flat sandals, loads of jewelry and too much blue eye shadow, which by the way doesn't match her out fit, accompanied by her bulging purse that is filled with everything including the kitchen sink. This morning was a good one; she had orange juice with coffee, blueberry pancakes with butter and syrup. She isn't up in time very many mornings to make a full breakfast for herself, her three children and her husband; well you might as well say her four children. She just got her red hair permed and teased just the way she likes it a few days ago. Pamela is just so stylish in her everyday attire. Somehow s he finds the time to read her favorite book The Client, by John Grisham, and every once in awhile she even gets to watch her favorite movie Where the Heart Is. After a long day in the office as a secretary she is comforted to know that only four more weeks and she off to Disney World for a week of summer vacation with her kids. Pamela just got home from work. Each day after she gets home she reads her emails from her friends, which usually are about the most recent gossip. Today Pamela got an email that was quite frightening. The email was a forward from her friend Danielle and it contained a link to a website which was about a deadly chemical called dihydrogen oxide. This awful chemical is odorless, colorless, and tasteless, but it kills thousands of people each year. Pamela became scared and called her three children in the room with her to read about this terrible chemical. She continued to read her email aloud: â€Å"Most of the deaths caused by DHO are by accidental inhalation. Prolonged exposure to the chemical in its solid form can cause severe tissue damage.

Can Noise Traders Survive

Discuss the implications of the paradox that although financial theory assumes that investors are rational in practive, few if any investors appear to approach investments decisions in a rational manner. Can Noise Traders Survive? 1. Introduction Noise Trader is a financial term introduced by Kyle (1985) and Black (1986). It refers to a stock trader who lacks access to inside information and makes irrational investment decisions (De Long et al. , 1990). Traditional financial theories are often based on the assumption that all the investors are rational.The burgeoning behavioral finance departs from classical financial theory by dropping this basic assumption (Carty, 2005). In recent years, there has been a growing interest in studying the behaviour and effects of noise traders. Friedman (1953) and Fama (1965) argue that noise traders are irrelevant because they will be driven out of market by rational investors who trade against them. On the contrary, Black (1986) argues that noise t raders can survive in the long run, and the entire financial market cannot function properly without noise traders.This essay will attempt to demonstrate that noise traders can make profits and survive in the long run, they can maintain a price impact and provide liquidity to the market. In order to demonstrate this, first, this essay will be specifically focusing on efficient-market hypothesis (EMH), which is a representative traditional financial theory based on rational investors assumption. Both empirical and theoretical evidence will be given in order to demonstrate the discrepancy between the rational investors assumption and real financial markets.Second, this essay will further explain how noise traders can survive in the long run, even sometimes earn higher expected returns than rational investors. Finally, it should be noted that noise trading is essential to financial market as its impact on asset pricing and benefits for market liquidity. 2. Illogicality of efficient-mar ket hypothesis Efficient-market hypothesis (EMH) assumes that financial markets are â€Å"informationally efficient† (Fama, 1965). All investors can make rational investment decisions based on full disclosure of information.Their argument against the importance of noise traders points out that if the price of an asset diverges from its fundamental value, rational arbitrageurs will buy the undervalued shares on one exchange while sell the same amount of overvalued shares on another exchange (Shleifer, 2000). The actions of rational arbitrageurs will drive the price back to its fundamental value. In the long run, therefore, noise traders will consistently lose money to rational arbitrageurs, thus eventually disappear from the market (De Long et al. , 1990).In order words, noise traders cannot survive in the financial market because their expected returns are negative. However, although efficient-market hypothesis is a cornerstone of modern financial theory, it is often disputed by investors and researchers both empirically and theoretically. The theoretical paradox of EMH and empirical evidence against EMH in real financial markets will be further explained by the following examples. The Grossman-Stiglitz paradox (Grossman and Stiglitz, 1980) testifies that financial market can not be â€Å"informationally efficient†.Grossman and Stiglitz argue that †because information is costly, prices cannot perfectly reflect the information which is available, since if it did, those who spent resources to obtain it would receive no compensation† (Grossman and Stiglitz, 1980, p. 405 ). If a market is informationally efficient, it means that all relevant information is reflected in market prices. Therefore there is no incentive to collect the information. However, if no one will pay to collect the information, the information then can not reflect in the prices.In summary, The Grossman-Stiglitz paradox contradicts efficient-market hypothesis, which mig ht prove that efficient-market is not the real feature of financial market. There are also other paradoxes that are seemingly impossible to explain according to efficient-market hypothesis. From the perspective of rational arbitrageurs, if noise traders are all eventually driven out of markets, there will be no price discrepancies for arbitrage. Thus the rational arbitrageurs will also disappear from the markets. In that case, how can the markets maintain a non-arbitrage equilibrium?From the perspective of noise traders, if noise traders are all driven out of markets, how do the markets generate the original noise traders? It seems clear that those two paradoxes serve as evidence of the existence of noise traders. Efficient-market hypothesis also states that it is impossible for investors to consistently out-perform the average market returns, or in other words, â€Å"beat the market†, because the market price is generally equal to or close to the fair value (Fama, 1965). It is impossible, therefore, for investors to earn higher returns through purchasing undervalued stocks.Investors can only increase their profits by trading riskier stocks (http://www. investopedia. com/). However, empirically speaking, there is a large quantity of real financial examples to support that stocks are not always traded at their fair value. On Monday October 19, 1987, the financial markets around the world fell by over 20%, shedding a huge value in a single day (Ahsan, 2012). It serves as example that market price can diverge significantly from its fair value. In addition, Warren Buffett has consistently beaten the market over a long period of time, which also contradicts efficient-market hypothesis (http://www. nvestopedia. com/). Thus, the two empirical examples above show that there is a huge discrepancy between real financial markets and efficient-market hypothesis rational investors assumption. However, how do noise traders survive from rational investors and arbitrag eurs? 3. Explanation of noise traders’ survival The DSSW model (De Long et. al. , 1990) further explains how noise traders can exist in the long run. The efficient-market hypothesis argues that if asset price diverges from its fair value by noise traders, rational arbitrageurs will trade against them hence push the price back to its fair value.However, it is far from the truth in real financial market. If noise traders are too optimistic about stock and have raised up the price of the stock from its fundamental value, an arbitrageur will bear huge risk selling the stock because noise traders optimistic beliefs will not change for a long time, thus the price will not return, or be pushed up even further by noise traders (De Long et. al. , 1990). The risk rational arbitrageurs bears trying to change noise traders’ opinions is named â€Å"noise trader risk†. Since rational arbitrageurs are risk-averse, the noise trader risk will limit their willingness to trade aga inst noise traders.De Long et. al (1990) argue that â€Å"the arbitrage does not eliminate the effects of noise because noise itself creates risk. † Therefore the noise traders can exist in the long run. De Long et. al (1990) also argue that noise traders may even earn higher expected returns than rational investors. If noise traders are over bullish about an asset and invest more, it means they bring additional noise trader risk into the asset, therefore rational arbitrageurs will find the asset less attractive because arbitrageurs are risk-averse investors.Noise traders, especially those overconfident investors, invest more in the risky asset than rational investors. Overconfident traders take on more risk and hence earn higher profits than their rational counterparts. De Long et. al (1990) say that â€Å"noise traders can earn higher expected returns solely by bearing more of the risk that they themselves create†. It is reasonable to conclude that noise traders can survive in the long tun and may even make more profits than rational investors. This may lead us to ask is there any significance of noise traders existing in financial markets? . Significance of noise traders The significance of noise traders can be divided into two parts, namely the benefits for market liquidity and the impact on asset prices. First, noise trader is the indispensable component of financial market. Black (1986) argues that if all investors are rational, there will be very little trading in individual assets. It means there is no incentives for investors to trade in the shares of an individual firm against those who share the same information and same beliefs on the stock.Traders will invest in mutual funds, or portfolios, or index futures instead of individual firms. However, individual shares are price foundations of mutual funds, portfolios and index futures (Black, 1986). Therefore, the entire financial market depends on liquidity in individual assets provided b y noise traders. Second, noise traders can maintain a large price impact. According to an empirical research on on Dow Jones Industrial Average and S&P500 returns, the price impact of rational sentiments is greater than that of irrational sentiments (Verma et al, 2008).Verma et al (2008) also argue that stock market returns have a immediate and positive response to noise trading. Therefore, it seems clear that noise trading is the essential ingredient in financial market since it is beneficial for market liquidity and it has huge price impact on stocks. Conclusion In conclusion, this essay has demonstrated that in spite of the basic model significance, traditional financial theory’s rational investors assumption is unrealistic. Noise traders can survive in the long run, and may even earn higher expected returns than rational investors.Noise trading is indispensable component of financial market, and has significant effects on asset pricing and benefits for market liquidity. T he financial market equilibrium is achieved by the coexist of noise traders and rational traders. However, the existing theories are not enough to fully explain every aspects of this extremely sophisticated financial system. There still remains a large number of puzzles and anomalies for us to further explore. 6. Reference Ahsan, M. , â€Å"Where Was the Invisible Hand during the Crash? † Economic Insights–Trends and Challenges, 2012, Vol. , pp. 44 – 52 Black. F. , â€Å"Noise. † The Journal of Finance, 1986, Vol. 3, pp. 529-543 Carty, C. M. , â€Å"Do Investors Make Rational Or Emotional Decisions? † Financial Advisor, 2005, May issue, see also http://financialadvisormagazine. com/component/content/article/1115. html? issue=56&magazineID=1&Itemid=73 De Long, J. B. , Shleifer, A. , Summers, L. , and Waldmann, R. â€Å"Noise Trader Risk in Financial Markets. † Journal of Political Economy, 1990(98) De Long, J. B. , Shleifer, A. , Summers, L. , and Waldmann, R. â€Å"The Survival of Noise Traders in Financial Markets. The Journal of Business, 1991, vol. 64 Fama, E. F. , â€Å"Random Walks in Stock Market Prices. † Financial Analysts Journal, 1965, Vol. 38, No. 1, pp. 34-105 Friedman, M. ,†The Case For Flexible Exchange Rates. † Essays in Positive Economics, 1953, Chicago: Chicago University Press Grossman, J. , Stiglitz, J. , â€Å"On the Impossibility of Informationally Efficient Markets†. American Economic Review, 1980, 70 (3): 393–408 Kyle, A. S. , â€Å"Continuous Auctions and Insider Trading. † Econometrica, 1985, vol. 53, pp. 1315-1336 Palomino, F. â€Å"Noise Trading in Small Markets†, Journal of Finance, 1996, vol. 51, No. 4, pp. 1537-1550 Shleifer, A. , La Porta, R. , Lopez-de-Silanes, F. , Vishny, R. , â€Å"Investor Protection and Corporate Governance. † Journal of Financial Economics, 2000(58), pp. 3-27 Verma, R. , Baklaci, H. , Soydemir. G. , â€Å"The impact of rational and irrational sentiments of individual and institutional investors on DJIA and S&P500 index returns. † Applied Financial Economics, 2008(18), pp. 1303–1317 â€Å"Efficient Market Hypothesis – EMH†, http://www. investopedia. com/terms/e/efficientmarkethypothesis. asp#axzz26ppseTGk

An Essay on “The Micromanager”

The end study entitled The Micromanager was written by Bronwyn Fryer, Jim Goodnight, Mark Goulston, Craig Chappelow and Michael Lawrie for the Harvard air Review ledger last September 2004.The fictional falsehood was about a CEO of Retronics Corporation, George Latour. George be take a breatherves that he is an exceptional drawing card and has a master to increase the companys benefit with a goal of excellence towards the softw be-engineering degenerate. Instructed by the board chairman, George hired a natural marketing straight offor, Shelley Stern, who, according to the chairman, only inescapably a bit of training in the softw be-engineering business. He does his topper to bring Shelly up to date.George has her sit in on developer meetings, agonistic her to do client calls, and even has the finance office explain the companys financial affairs on her. George has tendencies to be meticulous, interfering with Shellys do work, suppressing her creativity and suggesting his own better ideas. George withal gives blind comments like when he state Thanks, Shel. Youre the best although Shelly felt down that clock time when George repelled her creativity. Doing all this made Shelley unhappy and neer seems to show interest. In truth, she sees Georges management course as oppressive, making her awfully depressed. In the end, Shelly rebelled and acc apply George as a micromanager, plot of ground leaving George taken aback and could neer believe what he heard.Both parties, George and Shelly, contrive about puzzles in terms of belief and character. As CEO of the company, George carries a lot of twinge on his shoulders that is why he tries his best to excel the demands of the profligate since the company is non in a well-behaved shape. He overexerts himself by interfering with the work of his subordinates. Clearly, he lacks some sensitivity and trust to his underlings and makes the work done by doing it himself. George is uncomfortable with his com munication channel and thinks that the blame could only point at him thats why he is cowardly to accept radical ideas from his underlings.Shelly, on the other(a) hand, is quite new to the business. Although she has the qualifications for the line of work, she still require a lot to learn and inevitably to adjust spontaneously according to the demands of the firm and her political old-timer. Shelly believes that she has good qualities and gives overconfidence on her work. She withal thinks that her ideas are excellent and require to be praised not criticized, as done nonchalantly by George. As a fresh hired employee, she is pressured to show her good qualities to her co-workers and appropriate a good impression as a marketing director. Shelly trusts herself and believes that she can corroborate on her own without the help or intervention of her superiors.According to the U.S. array Handbook of 1973, in that respect are three general types of drawing cardship. They are ( 1) dictatorial or domineering vogue (2) Participative or democratic trend, and (3) Delegative or thaw reign manner. Authoritarian or autocratic vogue is basically aimd when the boss tells his subordinates what he wants done and how he wants the job done without getting the advice or sound judgement of his subordinates. An appropriate condition to use this style is when all the information to solve the problem is provided, there is time pressure, and the subordinates are easy motivated to accept hasty commands.Some trap minded people think of this style as an excuse for yelling, using bruise language, leading to threats and abuse of power. This is not the haughty style only rather an abusive, unethical style called bossing people around. Authoritarian style is normally used on rare homes when necessary. Participative or democratic style of leadership is preferred if time is much(prenominal) forthcoming and the leader wants to gain much commitment and motivation fr om the subordinates. This style includes the employees in on the finale making litigatees. However, internal and skillful employees should take part in the cover and the leader affirms the final decision as a foreshorten of authority.Using this style does not show weakness of the leader but rather a sign of strength and trust that the employees will respect. In delegative or free reign style, the boss allows the employees to make their own decision. This style is used when employees are able fully receptive of analyzing the situation and can determine what needs to be done to solve a certain problem. Although the employees had the power to make decisions, the tariff and final decision always lie on the leader himself.For a good leader to become more powerful he should be able to use all three styles depending on the situation and the forces involved between him and his subordinates. The leader should recognize when and how to adjust to meet the demands of the firm as well a s to maintain a good image to his employees. As for George Latour, he should improve on becoming a leader by listening more to develop more productive ideas and to have a mutual relationship to his followers. He should not concentrate himself on how his employee sees him but focus on maximizing the available resources to have better and productive planning.The biggest problem for Shelly and George would be the lack of efficient communication. to the highest degree of the problems and conflicts that occur in a firm or organization are the direct result failure to put across and misunderstanding. unseasonable communication leads to confusion and can creator good plans to be unsuccessful. Communication is tell to be the exchange of information or ideas from a vector to a telephone receiver. (Communication and Leadership) competent communication happens if the receiver comprehends the information that the sender wanted to address. Open mindedness in like manner plays a big part in communication. It sharpens the cogency of the receiver to understand what the sender is adage thus making the communication process more efficient.Good communication is also stark to attain especially when there are some barriers that prevent the sender and receiver to understand for each one other. Some of these verbalize barriers of communication are culture, beliefs, noise, physical and rational stresses, past experiences, and environmental factors such as bright lights, unnatural sights, unattractive soul or any stimuli that can build distraction. (Communication and Leadership)For a good communication process to happen, both parties should overcome these barriers to have a more productive relationship with each other. In the case of George and Shelly, they must bear themselves of the stresses that they carry so that they can communicate effectively. Shelly should exert herself on listening to suggestions and cartel it with her creative ideas while George must also try to become more slight and to give more trust to his employees.ReferencesBronwyn Fryer, J. G. (Sep 2004). The Micromanager. Harvard Business Review 8p, 2c, 4bw , p31-40, 8p, 2c, 4bw.Communication and Leadership. (n.d.). Retrieved August 27, 2007, from The Skagit Watershed Council Website http//www.skagitwatershed.org/donclark/leader/leadcom.htmlLeadership Styles. (n.d.). Retrieved August 27, 2007, from The Skagit Watershed Council Website http//www.skagitwatershed.org/donclark/leader/leadstl.htmlUnited States Army Handbook. (1973).

Fragrances in textiles

AbstractionFragrance coating of material stuff has been con grimacerablely expanded and utilise in recent old ages. It dope be done by agencies of several(prenominal) sense of smelltic sweetnesss with panache design techniques as embellishment and applique. This thesis foc apply on odor and inside decor.In analogy to this confinement, the subject chosen is health spa . SPA in the word which creates an thought of repose, apathy and peaceableness in the head. It is the topographic backsheesh where livelinesstherapy is utilise.The findings provide an apprehension of different techniques and s rimway expenditured to implement evocative olfactory modality to cloth for rear end sheets. In this investigatings factors such(prenominal) as comfort ability & A relaxation public entry, lastingness of aroma and laundering belongingss were investigated.The fragranced cloth fecal matter be used in emerge fabric application such as bed sheets, couch screen, table fabric, wall hanging.Chapter 1 entryway1.0 Introduction remindful aroma is the survey of the return of aroma on human behaviour to look into the descent mingled with feelings and emotions such as relaxation, quieting, alleviating tension excitement, sensualness, felicity and comfortably be. ( 1 )TitleAromatic aroma in rate stuffPurposePurposes of this undertaking ar to set up a physical connexion between us and aromas by dint of mean solar day-to-day engagement in place designing1.3 AimTo learn the benefits and side effects of aromatherapy on interior designing.To look into the engagement of aroma to check olfactory property to bed linen.Explore ship canal to add aroma finish to textile stuffs.To develop raised method of fabric use and embroidery utilizing several techniques ( samples )To apprise originative bed sheets and pillow instances designs.1.4 formation of thesis ( work program )Chapter 2LITERATURE inspection2.0 LITERATURE REVIEWThis chapter consists of research work carried out harmonizing to the undertaking purpose and onjectives. It provides a brief critique of the method used to add evocative aroma to fabric and embroidery and technics used to impinge on originative merchandises for interior decor.2.1 IntroductionHome fabric such as bed linen, pillow screens, bed sheets do non stay fresh due to casual work. This textile stuff cont personals a wad of microorganisms that gives off bad smell. Hence aroma coatings argon applied. It adds a batch of value to the merchandise and aroma compound instill a feeling of wellbeing and freshness.2.2 AROMATHERAPYAromatherapy can be defined as the controlled usage of ingrained inunct to keep and advance physical, mental and religious wellbeing . ( Gabriel Mojays )Aromatherapy can be defined as the usage of volatile industrial plant petroleum, including inhering inuncts for physical and psychological well-being ( hypertext exchange communications communications protocol //www.geocities.co m/hotspring/spa/4278/findex.html ) . Aromatic may be classified as a soft of aesculapian interposition or a division of holistic medical checkup exam specialty. At the same(p) clip it may be believed that aromatherapy is a proved scientific discipline used in the cast out and healing of disease.Aromatherapy is the healthful usage of plant-derived, aromatic necessity crudes to advance physical and psychological well-being. It is often utilize in conclave with massage and different alterative techniques as portion of a holistic intervention attack.Aromatherapy is the usage of heavy immanent oil colour extracted from flowers, herbs and opposite works parts for healthful utilizations against different provinces. Aroma healer used more than 100 oil, which atomic number 18 uncaring under the persons which strengthen ( e.g. Rosmarinus officinalis ) , tone ( e.g. lemon grass oil ) or relax ( e.g. orange flower ) other oil usage include basil, citrus fruit bergamia, black Piper nigrum, camphor, cedar, camomile, fennel, thus, Hyssopus officinalis, jasmine, chromatic Melissa, patchouly and rose, assorted aromas ( e.g. lemon apple-cinnamon ) be said to better enhanced exploit of mental undertakings and cut down clerical mistakes.hypertext switch protocol //medical-dictionary.thefreedictionary.com/Aromatherapy2.2.1 HISTORY OF AROMATHERAPYAromatherapy has been sylphlike since aged times. But the existent day of the month ( or clip accomplishment ) when aromatherapy dexterity hold been introduced is much debated. to the highest degree adept claims that the ancient Egyptian was the offshoot to pattern aromatherapy. Ancient Egyptians disposal baronial the physical and religious belongingss of these oils and used them in their day-to-day life. The Egyptians used these oils for their embalmment method and everyplace clip they became cognizant of the mending belongingss of these oils ( 2 ) ( hypertext transfer protocol //www.vanderbilt.edu/AnS/ psy chological science/health_psychology/what_is_aromathery.html )Egypt was considered the birth topographic draw a bead on of aroma. Its been 6,000 ago, Egypt discover the curative net incomes of scrub downing with substantive oil. The usage of aromatics distri simplye all slightly history from Egypt to Israel, Rome, Greek, and the solid Mediterranean universe. Each society form patterns of aroma utilizing oil, but during that age, a great trade about this acquisition might hold been lost. India is the lone topographic point in the universe where this usage has been never lost. internecine oil landed in Europe from antediluvian states through reformers. The Europeans use this acquisition to their local workss, for illustration lilac-colored, rosemary and thyme. These oil were non accessible to normal or mean individuals, because they were actually expensive. Therefore at that place was a diminution used of inhering oil.The Gallic chemist Dr. Rene-Maurice Gattefosse who is c onsidered the father of advanced(a) twenty-four hours aromatherapy was the firstborn to utilize the experimental condition aromatherapy in the twelvemonth 1928. He was really working in his familys aroma concern and highly fire himself in a bad luck. He burn mark his manus whats more build up to 3rd grade. He stations his manus to the hot VAT of cold liquid to strike the hurting. The liquid was lavender oil. He was shock to happen as much whammy lessening and there was no inflammation, kindling or rankling. He realized that lavender was mending the burn. The burn cured without a hint or a cicatrix.For Dr. Gattefosse, this started a life-time of find for him larning about necessary oil. He began to look into lavender oil and proceed continuing a big cypher of other oils get downing from different workss. He learned after his umteen researched that the mending belongingss of workss originate in the inborn oils. In 1937, he create a book on anti-microbial effects of the oils.An probe of history after World contend 2 introduces us to Dr. Gattefosse co-worker Dr. blue jean Valnet, who was a curative Doctor. He started his ain probe on the belongingss of indispensable oil during the twelvemonth after World fight 1. He was a renewing medical student in the Gallic armed rack during World War 2. Treating assorted kind of lesion. There was an efficiency of supplies and medical specialties cultivate out including antibiotics. He tried indispensable oils, the lesion mended rapidly and infection was lessen. M all combatants were saved due to indispensable oil.Dr. Jean Valnet has create verbally about indispensable oil therapy and in 1964 published the art of aromatherapy and the motion in Europe had metempsychosis. Around those same clip, a Gallic adult male Albert Coureur, published a book on medical utilizations of indispensable oil and Madam moon daisy Maury, a Gallic biochemist make an colossal system of using indispensable oil to the tegument with massage and established the 1staromatherapy inwardness in Paris, Great Britain and Switzerland and learned the rejuvenating belongingss of indispensable oils. Her research was published as The reclusive of Life and Youth ( 1964 ) . Micheline Arcier surveies and worked with Maury and valvet and their combined techniques created a signifier of aromatherapy that is now used around the universe.Many other Gallic medical physicians deeply skilled in curative indispensable oil followed Gattefosse and Valnet. Today super C pattern aromatherapy in Russia, France, the Ukrain, England and many other states. Most people do non live how indispensable oil went to united provinces but if we look at history, we figure a 3rd coevals characteristic healer from Switzerland, Anna Marie Butler continued the research of indispensable oil. She gets into contact with Dr. Lapraz and Dr. Durrafourd medical practician with indispensable oil. They were besides the president and General secretarial inciteant of the Gallic Phyto-Therapy and Aromatherapy association. She took her extended instruction through these and set up the phyto-Aromatherapy institute in the united province to go on her research on indispensable oil.as we all hunt for good wellness and look back to the beginning of a circle. Our ascendants gathered medical workss and herbs to make place redresss for all sort of illness .With scientific discipline exploratory promotion and the presentation of different sorts of chemic drugs, medical specialties we began to put our well-being in the custodies of the medical foundation. For a pill or medicine of virtually kind for about any illness ( along with side effects ) we start to mend our primitive structures and wellness when they are broken alternatively of maintaining them from interrupting in the first topographic point.As a consequence we distance ourselves with nature and the natural slipway that could by and large assist us keep our well-being ( mentall y and physically ) . Our organic structure can make good occupation at preclude unwellness and illness if we take good attention of it and supply it with the right things. Our organic structure were non do to procedure chemicals. These same chemicals can be used in natural signifier ( from works non construct transcripts ) to maintain us traveling without side effects. ( 3 )( hypertext transfer protocol //www.aromatherapynaturalhealing.com/ )2.3 substantial OILSEssential oils are the elusive, volatile peregrine that is refined from workss, bushs, flowers, trees, shrubs and seeds. They are extremely concentrated oils that lead a solid aroma.They are usually made through the serve up of distillment which give way the oil and weewee themed compound of a works by steaming.Essential oil in reverse to the word oil is non by and large oil feelings at all. The majority of indispensable oil is clear. Essential oil contains the echt kernel of the works it was derived from. Essentia l oils are extremely concentrated.2.3.1 DIFFERENCE between ESSENTIAL OILS AND PERFUMEssential oils are witness from parts of workss, aroma oils are aflame made olfactory property or have unreal substances and do non gives the curative advantages that essential oils offer.2.3.2 ESSENTIAL OIL drillFew common ways indispensable oils are used todaylocally Essential oil have a really little size and of the chemical tilt of less than 1000m. harmonizing to scientific testing, any substance with a molecular weight below 1000m should be absorbed by the tegument. This mean that indispensable oil have the capacity to perforate the tegument and base on balls into the blood watercourse and into separate zone of the organic structure for informal curative benefits.Figure 1 locally smelling(p)ALLY there is impressive evidence that indispensable oil are absorbed into the blood stream when breathe in. the extended sum of blood vass in the lungs absorbed the oils and so go around them all arou nd the organic structure. utilise a diffusor can assist you see the advantages of indispensable oil. You can sprinkle lavender to cut down emphasis, melaleuca to meliorate the air, wild orange to better temper, olibanum for religious enlightenment.figure 2 AromaticallyIngestion indispensable oil can be used as powerful medical specialties. Most indispensable oils are safe for internal usage but a small do goes long manner. By and large 1-3 bead is assorted with H2O Oils like genus Mentha piperita, lemon, frankincense bring extraordinary internal benefit and can be taken with H2O.figure 3 consumptionPERSONAL CARE Today the prompt manner indispensable oils are being utilized by doing place made DIY personal attention merchandises. An first-class manner to take benefits of indispensable oils to heighten your beauty, place and long term well-being. Some of the outperform DIY formulas to utilize indispensable oil with includes shampoo, toothpaste, lip balm, organic structure but ter and family purging agent.figure 4 personal attentionDr. hacks Essential Oils Guide(hypertext transfer protocol //draxe.com/essential-oils-guide/ )2.4 AROMATIC FRAGRANCE AS HOME perfumeMentionsONLINE SOURCEAromachology Wikipedia, the free encyclopaedia en.wikipedia.org/wiki/AromachologyWhat is Aromatherapyand where did it come from,Available at hypertext transfer protocol //www.vanderbilt.edu/AnS/psychology/health_psychology/what_is_aromathery.html ( Accessed 20th January 2015 ) .DebraAromatherapy & A natural healing,Available at hypertext transfer protocol //www.aromatherapynaturalhealing.com/Aboutme.html ( Accessed 28th febuary 2015 ) .Dr. Axes Essential Oils Guide,Available at hypertext transfer protocol //draxe.com/essential-oils-guide/ ( Accessed 28th febuary 2015 ) .Sophie Borland ( 21 October 2011 )Can aromatherapy oils poisonous you? How bantam atoms may harm liver-colored and kidneys Available at hypertext transfer protocol //www.dailymail.co.uk/femail/article-2051 976/How-aromatherapy-oils-poison-Tiny-particles-oils-damage-liver-kidneys.html( Accessed 10th December 2015 ) .Fernando Tovia/Philadelphia University/ ToviaF PhilaU.edu /Applied operations Research Natalie Weathers/Philadelphia University/ WeathersN PhilaU.edu /Textile and Apparel merchandise ( 2005 )Scent-Infused Fabrics to Enhance Consumer Experiences,Available at hypertext transfer protocol //www.ntcresearch.org/pdf-rpts/AnRp05/F05-PH03-A5.pdf ( Accessed 30th November 2014 ) .