Legal Profession Personal Statement Example | Topics and Well Written Essays - 250 words

Legal Profession - Personal Statement Example But people with a flair for the job, may not require it at all. "You are the final judge of your own psychological type" according to Isabel Briggs Myers-[website career planning.com-29-04-09]. A basic principle is that "humans are complex" [website careerplanning.com-29-04-09]. Another principle worth remembering is that the MBTI "does not stereotype people" [website careerplanning .com-29-04-09]. These indicate that while training may be useful, it has no universal applicability. Stature: A lawyer's profession is one of the best in the world. A lawyer occupies a high position in society. We can see that a large percentage of the world's celebrities like Prime Ministers, Presidents, Ambassadors etc. had their start as lawyers. A degree in law is the qualification for the job. I will acquire it. A lawyer can set up an independent practice or take up a salaried job. The income will be high, running into 5 or 6 digits. Lawyers have plenty of openings in banks, business corporations, industrial units etc as legal officers. Banks, Business Corporations like the Nokia, and Airlines are three specific fields which hire lawyers. I had a personal interview with a 26 year old lawyer. He was smart and alert, brimming with confidence and fearlessness. Soon after his joining, he shot up into the limelight by winning a couple of sensational cases. Now he is very popular and people from far away come to engage him.

The proposal argument Essay Example | Topics and Well Written Essays - 1500 words

The proposal argument - Essay Example The age of 18 earns one the badge of adulthood that makes him or her subject to trials in adult courts for any violation or crime committed, if any. Furthermore, several statistical data from NHTSA show the many inconsistencies regarding the supposed link of alcohol consumption to vehicular accidents and fatalities due to drunk driving. There are nations with more leniency in alcohol consumption that do not have the same vehicular accident concerns as the U.S. Unless the risks of alcohol consumption are lessened by maintaining the legal age for alcohol consumption at 21, the legal age for drinking alcohol should be lowered to 18. While there are many people and organizations who oppose the current MLDA, its advocates maintain that lowering the legal age for alcohol consumption would bring more risks than benefits. For one, it is said that consuming alcohol at an earlier age increases the possibilities of alcoholism in adulthood. Some say that brain development continues until age 20, and consuming alcohol prior to full brain growth can inhibit some of the brain’s development and potential. ... HTSA) statistics on â€Å"Alcohol Impaired Driving,† the decrease in the fatalities due to drunk driving did not decrease in accordance with the MLDA (NHTSA â€Å"Alcohol Impaired Driving† & Voas, Tippetts, and Fell 581). Furthermore, the MLDA proves to be counterproductive and hinders the more effective strategy of teaching responsible consumption of alcohol (Gulliver and Begg 774). It is a fact that cannot be denied that almost all of the political-, social-, personal-, and business-related activities can be done at 18 years of age (Ferreira and Willoughby 15). Everyone knows that a person aged 18 can, and is allowed to vote for the leaders of the land. It is ridiculous that a person can be trusted to choose the political leaders for his or her country yet be untrusted in terms of alcohol consumption. Everyone knows too that getting married at 18 is legal. It is ridiculous that a person can be trusted to be another person’s life partner yet be untrusted in term s of alcoholic drinks. Voting and marriage are both greater and heavier responsibilities when compared to alcohol consumption. Another interesting fact here is the legality of being a foster parent at 18. A person who is 18 years is deemed adult enough to be entrusted with the care and well-being of a minor, yet is deemed too young to drink alcohol. These adults are even allowed to enter into legally binding contracts at 18. Furthermore, it seems awkward and illogical to prohibit newly married 20-year old couples from sipping champagne at their own weddings. 18 earns an individual the rights and privileges of adults, including the fact that the adult will be subject to trials in adult courts for any violation or crime committed, if any (Subbaraman and Kerr 293). When one is considered a minor, the individual is

Background Of The Industry Economics Essay

Background Of The Industry Economics Essay Since the middle of the twentieth century, many economic goes ups and downs, the pioneer of the world have seen many fundamental and far-reaching changes within society. The obvious view is the amelioration in economic wealth, has considered the improvements in standards of living for the ensemble of people living and working in these countries. These alterations have enhanced the improved productivity and redistribution of the workforce. Leisure and Hospitality industry has become part of integral industries that helps to improve in economic wealth, not only in Malaysia but in most countries. It can regard as a complementary of tourism industry. As it is an income generator by using sources of country to attract foreigners to come over and flourish other industries too. For instances, tourists who fly over Malaysia will have an opportunity to fumble a new investment and attempt to involve it, this might help our economy grow well because of the inflow currency injection. But first, what exactly is leisure and hospitality industry? This sector is made up of two parts, which are the arts, entertainment and recreation sector and accommodation and food service sector. The  arts, entertainment, and recreation  sector include a vast range of constructions that operate facilities or services provided to cater variety of cultural, entertainment, and recreational interests of their patrons, examples like theme park, shopping mall, theme museum. (Leisure and Hospitality Industry)For the most part, it is built luxury-based, evade from the fundamental needs.  While the accommodation and food services  sector comprises constructions providing customers with lodging and preparing meals, snacks, and beverages for consumption, examples like famous food, hotel with different rated and superior services.This service-based industry thrives on the leisure activities of patrons. This kind of business that the hospitality industry garners is momentary, but it acco unts a large sum of its revenue. Therefore, with the subtle leisure and hospitality industry will push the tourism industry up. (What Is the Hospitality Industry?) Leisure and hospitality industry had indirectly developed in so many aspects too such as land, country, other businesses and it also decrease the unemployment rate too. For the land development, hospitality experts did a good job of flourishing some unused spaces and built a glamorous building on it to accommodate tourist that need place to stay and obtain income from that way. With the phosphorous of hospitality industry, there have few rates of hotels for tourist to choose whether which will appropriate for them. For examples, Genting Highland Malaysia has a few different rate of hotel in the small same site to let the tourists have as much as choices to select their apposite hotels. For the development of other businesses, such as food, stores, theme parks and shopping malls will glowing too due to the intrude of leisure and hospitality industry. In contra versa, tourists maybe interesting in food or theme park or cultures of a country and tend to come over for that specific intention, this will also enhance the leisure and hospitality industry. For an actual example, Singapore recently has constructed a new theme park, Universal Studio and Casino have attracted a lot of foreigners spend their time in that country to regale themselves. Exceptional service is usually very important for. Customer satisfaction like what they purposely come for, usually leads to consumer loyalty, which helps to ensure the success of a company in the hospitality industry. For the development of country and decreasing the unemployment rate, leisure and hospitality has create an opportunity for the tourist to search a new investment as I said in the above paragraph and it has fill in the people that need a job. In conclusion, hospitality and leisure industry are so sensitive to economic and in competitive market conditions. Hospitality and Leisure companies have to cater the challenges of current world market by comprehending and arising strategies to meet economic conditions, consumer trends, competition, technology and concerns regarding security and social responsibility. (646 words) (b)Main Competitors in the Industry As we know, GentingBhdis a well-known corporation in Malaysia with its prosperous and successful hotel, resort as well asleisure industry.Moreover, hospitality and leisure is the main revenue for GentingBhd. Therefore, we will emphasize the hospitality and leisure segments in here. In fact, the only one large casino space in Malaysia is built in Resorts World Genting which means GentingBhd monopolizes the casino market in Malaysia as well. However, the GentingBhd is having a tough competition with several rivals in overseas casino market. Besides that, GentingBhdcompetes perfectly with other resorts and hotels nationally, regionally and also globally. Therefore, there are few competitors in hospitality and leisure industry that GentingBhd might beware. Las Vegas Sandsis one of the main competitors for GentingBhd. Recently, it developed Marina Bay Sands in Singapore and it is the most expensive standalone casino property in the world. With its distinctive and marvel architecture of the resort the Sands Skypark and also the amazing and luxury interior of the casino, it does attract many gamblersglobally which gives an impact to Resorts World Sentosa in Singapore. (Acura, 2010)Resorts World Sentosa is one of the resort and casino properties of GentingBhd. It is one of the most expensive casino properties in the world after Marina Bay Sands.(Wikipedia, Resorts World Sentosa) Indeed, the third quarterly reports in 2010 shows that opening of Marina Bay Sands has wiped out the gaming revenueof Resorts World Sentosa in the second quarter. (Cohen, 2010)It obviously indicates that Resorts World Sentosa have a perfect competition with Marina Bay Sands. In other hand, GentingBhd is also competing with MGM Resorts International, the Las Vegas-based casino company in global casino market.(Reuters, 2012) Resorts World Casino New York City is builtat Aqueduct Racetrack in New York City, USAby GentingBhd which was opened on 28th October 2011 and it is the first casino in New York City.(Harwood, 2011) In fact, GentingBhdhas beaten out MGM Resorts Internationals original proposal to build a casino at Aqueduct Racetrack in South Ozone Park.(Mosco, 2012)However, Resorts World Casino New York City is still in competition with MGM Resorts International which is holding a certain number of casinos in Las Vegas and also outside of Las Vegas such as MGM Grand, The Mirage, New York-New York and more.GentingBhd may lose their advantage if compare with MGM Resorts International because of their brand name is not recognized by people. In past few years, Genting Bhd has bought 3.2% stake in MGM Mirage and Genting Bhd took over the US casino operators investment in MGM Grand Macau.(Times, 2009)In fact, GentingBhdisholding more cash than any other gaming operators in the world and it is one of the advantages of GentingBhd in the competition. Resort World Genting monopolizes casino market in Malaysia and it ensures the profitability of Resort World Genting. However, there are various resorts in local compete with Resort World Genting such as Legoland Malaysia in Johor.Legoland Malaysia is owned by Merlin Entertainments and it was opened on 22nd September 2012. Legoland Malaysia is the first Legoland theme park in Asia and it attracts not only local visitors, and also foreign visitors especially Singaporean.(Wikipedia, Legoland Malaysia) In addition, the Legoland Hotel, Lego-themed water theme park and Lego-themed attractions nearby will be opening soon. It becomes one of the potential competitors of Resort World Genting. In conclusion, Las Vegas Sands, MGM Resorts International and Merlin Entertainments are mainly competitors of GentingBhd. A good competition will lead a better performance of a company. Thus, we have a high expectation for GentingBhd. (604 words) (c) Risk factors of the industry The leisure and hospitality industry is expected to assume a greater role in driving economic growth during this decade. It is a business that providing goods and services in terms of entertainment, recreation and tourism. Leisure and hospitality industry is also assisting in the contribution of the gross domestic product (GDP) by creating job opportunities. (Economywatch.com, 2010) With the rapidly expansion of leisure and hospitality industry, there are general risks encountered by the companies. Therefore, managing risks is became an indispensible issue for every company. There are several sources of risk which are market risk, credit risk, interest rate risk, and so on. These risk factors are largely beyond the control of the Company and its directors because of the nature of the activities of the Company. a. Market Risk The fluctuations in the aggregate market assist the variability in a securitys return. Unfavourable economic growth such as high unemployment, recessions, or other unexpected events like war and natural disaster affect to the entire market and lead to the occurrence of market risk. Due to the economic changes, the value of investments may reduced over a given time period. It is also called as systematic risk. (investorwords.com, 2013) In order to protect against market risk, asset allocation and diversification can be used because different portions of the market tend to underperform at different times. As a fact, a total of 64 projects were approved with total investments of RM1.9 billion in the hotels and tourism subsector in 2011. Domestic investments totalled RM1.8 billion (94.7%), while foreign investments amounted to RM63.1 million (5.3%). In comparison, investments approved in the hotels and tourism sub-sector in 2010 amounted to RM2.5 billion, most of them were domestic investments. Amount of investment is reduced about RM 0.7 billion from 2010 to 2011 due to the economic crisis. (MIDA, 2011) b. Credit risk Exposure to credit risk in leisure and hospitality industry arises mainly from sales made on deferred credit terms, cash and cash equivalents, deposits with financial institutions, money market instruments and debt securities. (Genting Berhad, 2011) The companies which allow customers to pay in credit terms would encounter credit risk as including lost principal and interest, increased collection costs, and disruption to cash flows. The loss can arise in a number of circumstances. It is closely related to the potential return of an investment. (Investopedia.com, 2013) Risks are minimized through effective monitoring of receivables and suspension of sales to customers whose accounts exceed the stipulated credit terms. Credit limits are set and credit history is reviewed to minimize potential losses. Credit risk is closely tied to the potential return of an investment, the most notable being that the yields on bonds correlate strongly to their perceived credit risk. (Genting Berhad, 2011) c. Currency Risk Currency risk is the risk that fluctuation of the fair value or future cash flows of a financial instrument caused by changes in foreign currency rates. (BERJAYA, 2011) Most of the companies invest internationally in global investment arena therefore they face currency risk when they convert the foreign gains back to own currency. For example, Genting Berhad and Berjaya Corporation Berhad contribute their leisure and hospitality business in other countries such as Singapore and United Kingdom. They are exposed to various currencies. Due to the uncertainty of currency, they confront currency risk when they change the earnings to Ringgit Malaysia. Foreign currency exchange rates can change an investors total return on a foreign investment significantly, despite how well the investment performed. Some companies attempts to significantly limit its exposure for committed transactions by entering into forward foreign currency exchange contracts within the constraints of market and governme nt regulations. (Genting Berhad, 2011) d. Interest Rate Risk Interest rate risk is the risk of variability in a cash flow or security of company which resulting from changes in the interest rate level. (moneyterms.co.uk, 2012) It arises mainly from the companys borrowings and debt securities classified as fair value through profit or loss and available-for-sale financial assets. Borrowings issued at variable rates expose the company to cash flow interest rate risk. Debt securities at fixed rate expose the company to fair value interest rate risk. (Genting Berhad, 2011) The interest bearing assets are made up of deposits with licensed financial institutions, staff loans and interest bearing receivables. It generally affects securities inversely which showing that security price move inversely to interest rates. To reduce interest rate risk, some companies manage its interest rate risk exposure from interest bearing borrowings by maintaining rate borrowings of fixed and floating. They actively review the debt portfolio, taking into account the investment holding period and nature of assets. This strategy allows them to capitalize on cheaper funding in a low interest rate environment and achieve a certain level of protection against rate hikes. e. Liquidity Risk Liquidity risk is the risk that a given security or asset cannot be bought or sold rapidly in the market to prevent a loss. Liquidity risk arises when a company interested in trading an asset but unable to do it because nobody in the market wants to trade it. The more uncertainty of time and price, the greater the liquidity risk. It becomes quite important to companies who are about to hold or currently hold an asset, since it affects their ability to trade. (Wikipedia, 2013) Liquidity risk causes company encounter difficulty in meeting financial obligation due to the shortage of funds. In order to minimize liquidity risk, some companies manage their operating cash flows and the availability of fund so as to ensure that all funding needs are met. As part of their overall prudent liquidity management, companies may also maintain adequate levels of cash or cash convertible investments to meet their working capital requirements. In addition, companies strive to maintain available banking facilities at reasonable level to their overall debt position. As far as possible, companies raise committed funding from both capital markets and financial institutions and prudently balances their portfolio with some short term funding so as to achieve overall cost effectiveness. (BERJAYA, 2011) (d) Industry performance as compared to the general economy for the last 3 years As we all noticed, the economic decline was registered in several countries in 2009 such as United States, Euro area, Japan, Singapore and also Malaysia as the global financial crisis was led to a sharp contraction of the global economy.GDP growth rate in Malaysian economy contracted by 1.7 per cent due to a significant drop in manufacturing sector and mining quarrying sector shrank, which is 9.4 per cent and 3.8 per cent.(Centre F.G ,2011) Leisure and hospitality industrymakes an important contribution to the general economy. It is because it provides a large share of employment opportunity for the world. It included the careers in particular specialist areas such as marketing, human resource, finance and accounting, or business management. This can evident by employment in the leisure and hospitality industry for the entire world was 13.2 million in September 2009 and accounted for 12.4 percent of private industry employment.  (Bureau of labor statistics) Leisure and hospitality services include a wide variety of activities that attract tourists such as entertaining recreational areas, resorts, concerts and sporting events, restaurants, and accommodations. (Bureau of labor statistics).Leisure and hospitality industry performance consider at the good level in 2009 although the GDP growth rate is negative. This statement can be proof by the performance of Gentingbhd, which is the example of the leisure and hospitality in Malaysia. Based on the annual report 2009 of Gentingbhd, leisure and hospitality division had higher volume of business generated led to the higher revenue contribution from Resorts World Genting (RWG). Besides that, the annual report show that the performance of the integrated resort of Gentingbhd in 2009 was better than last year 2008, which was received 19.5 million visitors in 2009 compared with 2008 was 19.2 million. Resorts World Genting operates 41 of a total of 133 outlets in 2009 and the outlets catered to a record high of more than 14.4 million covers in 2009 as compared with 2008 was 13.7 million. (Gentingberhad annual report,2009) However there are some hotel in Malaysia are struggling to tackle the problem of declined occupancy rate in 2009. Therefore they were implemented some creative and innovative ways to attract their guests and earn their confidence once again. GDP growth rate of the Malaysian economy in 2010 expanded by 7.2percentage compared with the economy contracted by 1.7percentage in last year 2009. The expanded GDP growth rate due to significant grew of the two largest segments which play an important role in the overall economy. There are economy services and manufacturing, which grew by 6.8% and 11.4%. (Malaysia economy update, 2011)Tourism is one of the main drivers of the growth of the leisure and hospitality industry in Malaysia. Malaysia saw 24.6 million tourist arrivals in 2010. The development of the tourism will definitely leads to the drastically expanding of the leisure and hospitality in 2010. The number of hotels has expanded from 1,492 in 2009 to 2,256 in 2010, which was rose by 37.3 percent.(Ninth Malaysian Plan 2006-2010). 2010 was an active year for leisure and hospitality industry like Genting Malaysia as it took concrete steps towards expanding in the UK and in USA. This action guide the Genting Malaysia to have t he largest number of casinos in the UK with 46 casinos as at 31 December 2010 and five premier casinos located in London. ( Gentingberhad annual report,2010 ) 2011 saw the world facing unexpected crisis in many countries before the global financial crisis of the preceding years could dissipate. These unprecedented crisis such as the tsunami in Japan, major floods in Thailand, devastating earthquakes, the Euro-zone sovereign debt crisis and the Arab Spring revolutions. These factors had financially impacted many industries and corporations globally. Therefore, the annual GDP growth rate of Malaysia economy was drop to 5.1percentage, rather drastic drop against the 7.2percentage in 2010. (Malaysia economy update, 2011) This year was tough and challenge time for leisure and hospitality industry. However, some leisure and hospitality industry in Malaysia like Gentingbhd had marked this year as the official opening of Southeast Asias first Universal Studios Singapore at Resorts World Sentosa, the official opening of Johor Premium Outlets in Malaysia which is Southeast Asias first Premium Outlet Center and the launch of Resorts World Casino New York City in the United States of America although the economy remains uncertain. (Gentingbhd annual report, 2011) Besides that, the first Legoland Malaysia was announced on 6 December of 2011 to open Legoland theme park in Asia-Pacific and the sixth in the world. (Lua,M.L,2011 ). GROSS DOMESTIC PRODUCT GROWTH OF MALAYSIA, 2009 2011 (%) (Ministry of International Trade and Industry (MITI) Malaysia, 2011) (e) Prospect and estimated growth for the industry in the coming year. Nowadays, organizations within leisure and hospitality industry are faced with increasingly complex issues on branding, operational excellence and growth. There are many accompanying societal changes with great significance for the industrys operators.   Demand and consumer expectations have continued to expand with the evolution of a global marketplace. (Background to the hospitality industrys workforce, 2010) From international perspective, leisure and hospitality industry is now claimed to be the worlds fastest growing industry and also one of the leading earners of foreign currency. Nationwide employment in the leisure and hospitality sector  rose to 13.66 million jobs in August, based on the latest seasonally adjusted data from the  U.S. Bureau of Labour Statistics. This means many people willing to engage in this industry as they maybe forecast it might be a flourished result in the future. (Thomas) However, the UK and other western economies are going through a prolonged period of structural adjustment and relatively low growth and volatility is likely to persist through the mid-2010s. Against this disappointing backdrop, the London hotel market has demonstrated remarkable resilience. Revenue per room dipped by 5% in 2009, but has since rebounded by 25% to reach a record high. The surge in new supply during 2012 and 2013 may bring down occupancy but we do not expect these temporary factors to hold London back for long. In the UK regions, the picture is different. Here demand is more dependent on the domestic economy, which has been squeezed by high inflation and the aftermath of the financial crisis. Despite near 70% occupancy rates, hoteliers have been unable to pass price increases through the market. We expect revenue per room and rates to remain broadly flat in 2013, as they have since 2009. (UK hotels forecast 2013) Figure 1.1 Forecast charts Leisure and Hospitality in 2013 (PwC UK hotel forecast 2012 and 2013) From Malaysia perspective, GentingBerhad is the domain in hospitality and leisure industry. Casino, hotel and theme park are the main sectors which contributed by GentingBerhad. Thus, we exert GentingBerhad as the standard to interpret the prospect of Malaysia. Among   the   mass   market   domestic   visitors,The total visitor arrivals to Genting Highlands remained stable. Unlike Singapore, where gaming volume is volatile, Malaysian gaming volume held up well growing at double-digits for VIP gaming and mid single-digit for mass market gaming. As such, Genting Malaysia with 83% of its revenue generated frm its stable Malaysian gaming base provides greater earnings compared with GentingBerhad, which is facing greater earning volatility   from   Genting Singapore which contributes a sizeable 55% of GentingBerhads group profit while the operating environment in Singapore remains challenging given its heavy reliance on VIP gaming, which is feeling the impact of the global economic slowdown as well as regulatory restrictions on full-fledged junket operations in Singapore. (2013 STRATEGY GAMING (OVERWEIGHT), 2013) While another evidence to proof that the hospitality and leisure industry is in a high profitability industry, is according to Tourism Malaysia statistics, tourist arrivals to Malaysia rose 3.9% to 12.8 million in the first seven months of the year against 12.4 million in the previous corresponding period. For the first six months, tourist arrivals in Sabah grew by 1.2% to 1.12 million compared with 1.11 million in 2007. (The STAR, 30 Aug 2008).Tourism always related to the hospitality and leisure industry, each other is complementary. So with the gaining figure, it apparently pushed up the industry to the climax. Question 3 In conclusion, we will suggest investors invest in Genting Berhad stock. There are some analysis and evidences support our point of view. In our analysis, the P/E ratio of Genting Berhad is 16.90 times. If compare with Malaysia gaming industry P/E ratio 13.8 times (Based on Kenanga Research, 22 November 2012), it is considered high. Moreover, the latest P/E ratio is also higher than 2011 year which is either 14.1 (Based on Kenanga Research, 22 November 2012) or 13.6 (Based on OSK Research, 22 November 2012). Apparently, increasing in P/E ratio reflects that investors expect Genting Berhad will outperform in the following years. It tells us that investors have confidence and high expectation on Genting Berhads future. On the other hand, the estimated dividend growth rate of Genting Berhad is 3.54%. It seems like not much attractive to investor since Genting Berhad pays a low dividend. However, it is a signal of growing for company so that investors can expect to make more money by in vesting in Genting Berhad stock in following years. In the calculation of estimated Genting Berhad share price, we got an extremely low price which is RM0.65. It is a huge range of extent from current price RM9.70 (Retrieved on 7th January 2013). However, it does not indicate that we should not invest in Genting Berhad. In our opinion, the dividend discount model formula is not suitable to apply in here. It is because Genting Berhad gives a very low dividend while its share price is greatly high. Therefore, the estimated share price in result will be tremendously small. In a word, the unrealistic estimated share price as above is meaningless. In addition, the Kenanga research and OSK research has rated the Genting Berhad as outperform or valuable to buy. Moreover, both of the researches predict the share price of Genting Berhad will be raised to around RM10 whereas the current price of Genting Berhad is RM9.70. (Retrievedon 7th January 2013) Obviously, it shows that Genting Berhad is still valuable for investor to invest. Genting Berhad has a dividend yield of 0.652% which is considered less attractive. However, this is one of the strategies of them to reduce expenses in order to contribute in their business expansion. It was announced that Genting Berhad is venturing into pharmaceuticals. A wholly-owned subsidiary of Genting Berhad, Genting Management (Singapore) Pte Ltd had invested USD31.5m in TauRx Pharmaceuticals Ltd. We believe it may bring impact to the stock price of Genting Berhad because they try to get involved in more sectors in market. ROE of Genting Berhad was fluctuated and was declined from 2011 to 2012. The fall of net profit margin, asset turnover ratio and leverage ratio had caused the declining of ROE. Even though higher ROE is preferable, but ROE may decrease due to some circumstances. The drop of proportionate profitability may assist the rising in corporate income and hence decreasing in net after tax profits. Earnings may still growing but ROE would decrease. When Genting Berhad prefer to become more asset intensive, which means that the company has to generate more assets to increase sales, ROE will decrease despite growing earnings. If the company is paying down its debt by shareholders equity, equity multiplier will decline, ROE will decrease intensely. Therefore we should compare with other parameter. As we know that Genting Berhad is the blue chip company, it indicates that the stock price of a Genting Berhad usually follows the SP 500 and normally it will not have a big fluctuated in the changing of share price. Based on the earning per share (EPS) as we estimated above, it shows the EPS of Genting Berhad will grow from 54.4267cent to 56.4490cent. Therefore it means the companys profitability will remain at the high level for next year. The growing EPS also indicate that the performance of the company will keep improving in the future. It will lead to the value of the Genting Berhad share grow up in the future. Therefore we suggest the investor to invest in Genting Berhad. Besides that, we estimate that the growth of the Genting Berhad from 2012 to next year 2013 is 13.0844%. It tells us that the Genting Berhad is going to grow in the coming year although the uncertainty economy changes. Genting Berhad is not only concentrate in its leisure and hospitality industry, it also included gaming and entertainment businesses, plantation, the generation and supply of electric power, tours and travel related services. It involved some development like property development and management, genomics research and development, oil and gas exploration, production activities.  (Investor.com, 2010-2012). This is definitely shows the strength and advantage of the diversity of Genting Berhad. As we all noticed that the leisure and hospitality or gaming entertainment industry are growing very fast in the current economy. If unfortunately one of these industrys performance goes down, it still can recover by others industry which have a constantly good performance over pa st years. Genting Berhad already is a well-known company in Malaysia, the total visitors is remained stable and keep increasing. Although every year is challenger for Genting Berhad, they can always do their performance well until reach the expectation of the investors. The other evidence is the increasing of their dividend payout ratio. We estimate that the dividend payout ratio will keep increasing to 11.024% next year. It means how well the earnings of Genting Berhad can support its dividend payments to the shareholders. This higher payout ratio will only given by the mature company. (investopedia, 2013) Therefore, the shareholders of the Genting Berhad can enjoy its increasing dividend per share every. All of the evidence can definitely support the investor to invest in Genting Berhad.

Point of View in Bartleby, the Scrivener Essay -- Herman Melville

Point of View is incorporated in to stories to show the readers how the story is told. It includes describing the position and person in the story. Position is how far the narrator is from everything that is going on in the story. Person is way the narrator shows the character and their attitude. There are four different parts that make up the Point of View. These four parts include: Third-Person Omniscient, Third Person Limited Omniscient, First Person, and the Objective. Third-Person Omniscient is when the author of the story, tells the story as a narrator. They â€Å"know ,† â€Å"speak,† and are able to follow every character in the story. Third-Person Limited Omniscient means that the narrator only knows the thoughts and feelings of one character in the story. The author is still the narrator. First Person is when the author chooses one character to tell the story. You will often see the words, â€Å"I,† and â€Å"me,† through out. The narrator will most likely be in the middle of the action, or telling the story from a past perspective. Lastly, the objective is how the author gets the point across without interpreting the character’s feelings. According to our textbook, â€Å"E-Fictions,† it is similar to â€Å"looking at a story as if the audience were watching it through a camera lens.† Herman Melville uses a first person point of view to show the narrator’s first hand fascination with his employee Bartleby, as well as Bartleby’s strange behavior and insubordination. The lawyer hires Bartleby as his scrivener. He is awestruck because Bartleby is so quick and efficient. He asks Bartleby to help him examine papers and Bartleby replies,† I would prefer not to.† Bartleby’s reply surprised the lawyer. The lawyer repeated himself. ... ... these letters speed to death. Ah, Bartleby! Ah, humanity!† Using first person point of view in this story was a good way to show the readers first hand how the lawyer felt. I don’t think the author could have used any other point of view to explain to the reader how the lawyer felt about Bartleby. If he had used third-person omniscient, it would have pulled away from the narrator, and focused on all of the characters more. If he would have used third-person limited omniscient, we would not have gotten how the other characters in the story felt about Bartleby. Objective would not have worked either, because he wouldn’t really get to see what was going on in the lawyers â€Å"head.† In conclusion, point of view is very pertinent to telling the story. It is how the story is told, and who the story is told by. All of these factors go in to point of view.

Balance of Payments Essay

The Balance of Payments is a summarized recording of all transactions between Australia and the rest of the world of a given period of time, essentially it illustrates the trade and money flows in and out of Australia’s economy. For ease of identification and analysis, the Balance of Payments is separated into two separate components namely the, Current Account and the Capital and Financial account which deal separately with certain aspects of Australia’s international public and private sector interactions. Resulting trends as a consequence of the calculation and analysis of the Balance of Payments such as the Current Account Deficit and the Terms of Trade become significant economic issues both in Australia and their effect can have profound impact on the Australian economy abroad and as a result become a great priority for the Government. The Current Account is a section of the Balance of Payments which summarises all international transactions involving goods, services, income (i.e. interest and dividends) and current transfers. Components of the Current Account include the goods balance, which is the difference between the value of exports and the value of imports (X-M) resulting in either a surplus or deficit and the services balance which is the balance of services exports and imports. Other components of the Current Account include the income balance which are the profits earned by Australian company’s overseas and dividends earned by Australian investors overseas minus the same payments made overseas and also Current transfers which are funds brought into Australia by immigrants, funds taken out of Australian by emigrants and gifts and donations to and from Australians from and to overseas. The total of the Current Account section of the Balance of Payments is the net total of Goods and services plus net income plus goods and services. The Capital and Financial account section of the Balance of Payments is a summary of all capital transfers and international transactions involving financial assets and liabilities. As its name suggests, there are two components to this section of the Balance of Payments, firstly the capital account is a record of all money transfers or a capital nature. Secondly, the financial account is a record of all transactions in financial assets and liabilities including the following: Direct Investment which involves  overseas acquisition of a significant degree of influence over a business, usually more than 10 percent; Portfolio investment on the other hand can be described as a speculative investment (i.e. share or debt securities that can be readily exchanged on financial markets.) and Reserve Assets which are RBA holdings in foreign currencies, this is one of the most important components of the financial account as it allows the Government to manipulate these assets or holding for re flective effects on the exchange rate. (i.e. the RBA can sell foreign currency to buy AUD; conversely it can sell AUD to buy foreign currency.) There are several main identifiable relationships between the three components of the Balance of Payments the main of which being offsetting phenomenon that occurs between the current account and the capital account. With a floating exchange rate, the balance on the current account is always exactly offset by the balance on the capital account therefore in principle the balance of payments should always be in balance overall. That is, a deficit on the current account is exactly matched by a surplus on the capital account and vice versa. However as the data is collected from many independent sources, discrepancies between the credit and debit records may occur for various reasons. To compensate for this, the balance is brought to zero using a system which allows for net errors and omissions. The position of Australia’s overall Balance of Payments is extremely pivotal in determining Australia’s success in the global economy. The Current Account for example has been in regularly in deficit and in 1985-86 peaked at a 6.3% deficit as a proportion of GDP. The current account deficit (CAD) is very reflective of the balance of goods and services (BGS), the years when the BGS was in surplus, the CAD was usually under 4 % of GDP, conversely when the BGS was in deficit this was reflected by the CAD being up to 6.3% of GDP. In recent years, the CAD has become a controversial issue, especially at a time where imports regularly outweigh exports which contribute to a deficit in the balance of goods and services. Furthermore, this can result in a cyclical effect where a high CAD can further deteriorate our BGS due to the unattractiveness of foreign investment and therefore a slowdown in the production of resources (Australia’s greatest  export product.) A largely unknown factor contributing to our sizeable CAD however is the Net Income Deficit, which is mainly reflective of our large use of foreign savings and Australian firms increasing overseas assets. The Government has felt that as long as Australia remains prosperous, output continues to grow and the CAD does not get out of hand then foreign investment and the ability for Australian firms to borrow from overseas will remain high and available then Australia needn’t worry about the CAD that it is currently running. The Balance of payments is a complex issue yet remains vital when ascertaining Australia’s level of growth and output and how this is reflected in the global economy. There are various and the just putting this in to see how thoroughly things are checked. links that can be drawn between the two components and three resulting sub categories of the Balance of Payments and allows economists to examine and amend various issues that become apparent in the record of Australia’s international transactions. The Government places great importance on the Balance of Payments data as it is a direct and straightforward analysis of Australia’s performance at home and abroad.

Business finance Essay

(i) Eli Lilly is very excited because sales for his nursery and plant company are expected to double from $600,000 to $1,200,000 next year. Eli notes that net assets (Assets — Liabilities) will remain at 50 percent of sales. His firm will enjoy an 8 percent return on total sales. He will start the year with $120,000 in the bank and is bragging about the Jaguar and luxury townhouse he will buy. Does his optimistic outlook for his cash position appear to be correct? Compute his likely cash balance or deficit for the end of the year. Start with beginning cash and subtract the asset buildup (equal to 50 percent of the sales increase) and add in profit. (ii) In problem 1 if there had been no increase in sales and all other facts were the same, what would Eli’s ending cash balance be? What lesson do the examples in problems 1 and 2 illustrate? (i) The calculation starts with the beginning cash which is subtracted the asset buildup and then added in profit. As to why subtract the asset buildup? This is because the calculation should be working with net assets (assets and liabilities), which is short for â€Å"assets not financed with debt†. Because any asset not financed with debt in reality must be funded either with fresh equity or with retained earnings, the total $300,000 increase in assets needs to be supported by an increase in debt (Jensson, 2006). Beginning cash $120,000 Asset buildup (300,000) (50%* $1,200,000) Profit 96,000 (8%* $1,200,000) Ending cash ($84,000) Deficit Therefore, his optimistic outlook for his cash position is wrong. Cash will be in a deficit. (ii) In problem 1 if there had been no increase in sales and all other facts, the new calculation is shown below. Beginning cash $120,000 Asset buildup (0) Profit 48,000 (8%* $600,000) Ending cash $168,000 Balance Therefore, even though no increase in sales, Eli Lilly would end up with cash balance but not deficit. From the examples in problem 1 and 2, we can learn the lessons that higher sales may not translate into higher cash flow. The more sales obtain, the more financing requirements needed (Dechow et al., 1998). For example, the cash may be used for building up inventories, which may depreciate in value or even become obsolete if the inventories are not sold in a timely manner. Inventories are valued as assets since they tie up capital; hence they are expected to be sold as soon as possible so that realizing investment return. The expenses of building up inventories are not recorded until products are actually sold. Inventories become liabilities when life cycle ends either because of expiry or by becoming discounted/ obsolete (Buzacott & Zhang, 2004). In problem 1 even though the company’s sales are expected to double, the assets remain 50% of the increased sales, which leads to significant cash reduction even for a potential profitable firm. In order to ensure cash balance, Eli Lilly should try to sell the liquid assets such as inventories as soon as possible. On the other hand, because the sales keep the same in problem 2, there is no more capital needed to build up assets. All in all, increasing sales not necessarily lead to more cash balance. References: Buzacott, J. A., & Zhang, R. Q. (2004). Inventory management with asset-based financing. Management Science, 50(9), 1274-1292. Dechow, P. M., Kothari, S. P., & L Watts, R. (1998). The relation between earnings and cash flows. Journal of Accounting and Economics, 25(2), 133-168. Jensson, P. (2006). Profitability Assessment Model. Reykjavà ­k, Iceland.

Free Essays on Roop

I'll always remember Sudden. That was the nickname the men had tacked onto the muscled giant that wielded the M60 in my unit. "Sudden" was short for "Sudden Death." And I'll always remember the first time I saw Sudden in action. I was a new, green Lieutenant assigned to Vietnam. Back then, the Army didn't try to develop any esprit de corp; men were rotated frequently before any friendships developed. Consequently, my men were a group of strangers united only by the need to survive. They were eighteen- and nineteen-year-olds with the eyes of old men. We were stationed near the Plateau du Darlac, South Vietnam. My first real assignment was to check a tiny hamlet, Dien Hoa. Army Intelligence believed the Viet Cong were operating from Dien Hoa. Our job was to determine if that was correct. We rode an olive-drab chopper. The whooping blades of the helicopter give us a little respite from the relentless heat of 'Nam; the blades cut the thick, humid air and pushed a breeze downward over the passenger compartment. Soon, we circled the LZ. The LZ looked cold. There's only one way to find out if it is really cold, I thought as I double checked my M16. If no one zapped us when we entered, it was cold. If they did, it wasn't. "Lock and load," I yelled. The olive-drab helicopter circled low and slowed down until it almost hovered four feet from the ground. The door gunner mashed the spade grips on his .30 caliber M60 machine gun. The gun spewed bullets, its belt marching the ammunition into the gun over a Budwiser can, the container added to the mechanism to prevent jamming. It was time to jump off the skids while we skimmed above the surface of the lush, green valley. My stomach felt like it was turning wrong-side-out inside my abdomen. We dropped into the elephant grass, stumbling under heavy packs and the weight of ammo and weapons. I vaguely wondered about snakes and hoped my groan upon hitting the ground was drowned ... Free Essays on Roop Free Essays on Roop I'll always remember Sudden. That was the nickname the men had tacked onto the muscled giant that wielded the M60 in my unit. "Sudden" was short for "Sudden Death." And I'll always remember the first time I saw Sudden in action. I was a new, green Lieutenant assigned to Vietnam. Back then, the Army didn't try to develop any esprit de corp; men were rotated frequently before any friendships developed. Consequently, my men were a group of strangers united only by the need to survive. They were eighteen- and nineteen-year-olds with the eyes of old men. We were stationed near the Plateau du Darlac, South Vietnam. My first real assignment was to check a tiny hamlet, Dien Hoa. Army Intelligence believed the Viet Cong were operating from Dien Hoa. Our job was to determine if that was correct. We rode an olive-drab chopper. The whooping blades of the helicopter give us a little respite from the relentless heat of 'Nam; the blades cut the thick, humid air and pushed a breeze downward over the passenger compartment. Soon, we circled the LZ. The LZ looked cold. There's only one way to find out if it is really cold, I thought as I double checked my M16. If no one zapped us when we entered, it was cold. If they did, it wasn't. "Lock and load," I yelled. The olive-drab helicopter circled low and slowed down until it almost hovered four feet from the ground. The door gunner mashed the spade grips on his .30 caliber M60 machine gun. The gun spewed bullets, its belt marching the ammunition into the gun over a Budwiser can, the container added to the mechanism to prevent jamming. It was time to jump off the skids while we skimmed above the surface of the lush, green valley. My stomach felt like it was turning wrong-side-out inside my abdomen. We dropped into the elephant grass, stumbling under heavy packs and the weight of ammo and weapons. I vaguely wondered about snakes and hoped my groan upon hitting the ground was drowned ...

buy custom The Work of an Information Technology essay

buy custom The Work of an Information Technology essay The work of an Information Technology professional focuses on the use of technology in developing an organization with information services. The work entails networking, installation of backup or recovery systems, domain setup, and hardware installation. Work in the context of an It professional in a university entails providing infrastructure services for the institution. Some of these services include project management, linking users to IT services and process improvement, for instance, an Information Technology Infrastructure Library. The main aim of an IT professional in such an institution is to ensure that sound infrastructure links the organizations technical and service structure thus; provide a conducive environment for learning. The impact of IT work can be seen in the improvement of effectiveness of service delivery to students and staff, a very important facet in organizational development (Marilu, Kathleen Keith 2006). The outcome of the work conducted by IT professionals entails putting efforts on all members of the organization to work towards improving organizational operations. This will enable the organization to serve its students and staff while fulfilling its mission and vision. These operations can only be achieved if the information technology systems are well installed and operated. Information security is the one of the key challenges facing IT professionals. Every person is using the web to exploit opportunities and rsources that come with it. However, there are also people and organizations who have already spelt doom for the IT profession. Hackers use the same web to attack and bring down information systems belonging to various organizations. In the past, companies relied on IT professional in managing computer, information, and network security. The increasing threat to the systems has forced companies to hire information security personnel to help in managing all security issues. The other challenge is that IT experts need to undergo further training than in the past. They have to be trained in engineering security and operations management among other complex issues that surround information sensitive organizations. IT experts have to be knowledgeable in the novel technologies used in e-commerce. Most organizations embrace these new technologies without knowing that even the hackers are developing novel ways of hacking. New systems are of key interest to hackers since most organizations are not conversant with their operations. It is vital to note that, an IT professional has to think ahead, brainstorm any imaginable threat like fraud, and mitigate it. E-commerce sector comprises of Business-to-Business enterprises and Business-to-Customer. The problem of network security is a very big issue to the IT professionals. Trojans, worms and viruses can be sent through constant e-mails, spam, and messages that may appear to be of no harm to many people and organizations. IT professionals have many opportunities in the Information Technology sector. One can train as an IT information expert and his work will be to detect any threat to the information systems of an organization. IT professionals can also use their skills to build systems that are hacker-proof and sell to several organizations. On the same line, they can take advantage of the knowledge in their field and use it to establish e-commerce activities that will earn them income. In the real world development, for instance, in Kansas University, IT professionals have set up an information systems that enables the university to achieve its goals. Information services delivery has been very effective especially with the set up of an information system library that is in use by both students and staff. The structure of information services at the university enables students to access services, thus the creation of an organizational learning infrastructure. The challenges at the University involve safeguarding the information systems from hackers (Sambamurthy, Brown, 1999). The networks have also to be protected since hacking may damage the whole network. The opportunities involve working as an information security expert to mitigate the threats posed by hackers. In my opinion, the IT field is full of many opportunities for students who intend to study this field. One can work as an information security expert, design systems that are hacker-proof or start an e-commerce enterprise. Buy custom The Work of an Information Technology essay

Bus/210 Week 8 Assignment Developing Good Business Sense

Name: Date: 04/28/2011 Course: BUS/210 Assignment: Developing Good Business Sense ? BUS/210 Week 8 Assignment Developing Good Business Sense There are three fast food restaurants that I chose as the businesses for this assignment; Sonic Drive-In, McDonalds, and Kentucky Fried Chicken. All three of these businesses are fast food restaurants. Sonic Drive-In is a curb side restaurant in which car hops bring the customer’s order to their car. McDonald and Kentucky Fried Chicken are both dine-in sit down restaurants that also offer a drive-thru window in car service. The three businesses have similar operations involved in their inputs. The main goal of the employees is to make high quality fast food. While Sonic Drive-In prepares their menu items as they are ordered, McDonalds and KFC precook there items and use heat lamps to keep the food warm. McDonalds and KFC organize their employees in a very similar manner, while Sonic Drive-In is slightly different. McDonald’s and KFC utilizes the cook stay to prep and cook all the food items, the front counter and drive through staff run the registers, take order prepare drinks, and sack or tray customers’ orders. Assistant Managers and managers help out in all positions and oversee all operations of the restaurant. Sonic Drive organizes their cooks and Managers in a similar way, the difference is that Sonic Drive-In does not utilize a front customer counter and register. Sonic utilizes a curbside menu’s and speaker system for customers to place their orders. Carhops replace the counter help normal seen at traditional fast food restaurants. The carhops deliver the orders to the customer’s car. Sonic Drive-In allows their customers to custom order their menu items any way the customer wants. They also offer over 350,000 different drink combinations. That is something that is not offer by any other national fast food chain. The OMM costs of these three restaurants are very similar. The all three of them have operating costs such as rent, utilities, inventory, franchise fees, royalty fees and labor. I found it surprising that all three restaurants actually do not own the property that they are on. All three of them own the restaurants but rent the land that there restaurants operate on. With all three of these restaurants, the time of years and the weather have a huge effect on their sales volume. The lower their sales volume the higher percent of operating cost that they have. During the winter, sales are at their low and in the summer they are at their high. Each restaurant experiences high profits during the summer months and low profits during the winter months. Operating cost such as inventory and labor are the biggest monthly expense from all three restaurants. Since all three of these restaurants belong to national franchise chains they are required to pay franchise fees and royalty fees each month. The manager at Sonic Drive-In stated that their franchise and royalty fees are determine by their net sales each month. They are required to pay 15 percent of their net sales for franchise fees and 10 percent of their net sale for royalties. The manager at Sonic Drive-in also Stated that they are doing very good if they can profit 15 percent of their sales each month after paying all the expenses, and the best way to do that is by controlling the inventory and labor expenses. The managers of McDonalds and Kentucky Fried Chicken were unwilling to release any of their business information to me. While the manger of sonic Drive-In was willing to answer some question, they were very restrictive of the information they did give. The way McDonalds, Kentucky Fried Chicken, and Sonic Drive-In all three conduct their business is very similar. They are designed to produce quality fast food at a price that is considered a value to the customer. They each use the small batch operating system to make customized products. In all three case their own customized food for individual customer orders. KFC makes small batches of fried chicken that is to be sold to individual customers. Because the time it takes to make the fried chicken, KFC cooks batches throughout the day so that it is ready when the customer orders it. This reduces the waiting time for the customer. McDonalds precooks their hamburgers and makes the sandwiches when the customer orders to reduce the waiting time for their customers. Sonic Drive-In cooks the customer’s food when it is ordered, but states that none of their menu items take more than three minute to cook, therefore the wait time for the customer should not exceed three minutes. All three of these businesses focus on delivering fast quality food at an affordable price to keep their customers satisfied and insure they maintain repeat business. This is what keeps their sales value up and allows them to be a profitable business.

POLITICAL COMMUNICATION, ADVOCACY AND CAMPAIGNING Essay

POLITICAL COMMUNICATION, ADVOCACY AND CAMPAIGNING - Essay Example In his autobiography, Decision points, Bush looked back at his role in those events with pride and no regret despite the controversy surrounding his decisions and the ensuing consequences (Bush 2010). This essay endeavors to look at the Bush’s controversial plan to attack the International news channel Al-Jazeera revealed in the Daily Mirror in 2005, as part of the American administration war against terrorism and Al-Qaida. A decision which surprised many international political observers when it was revealed, but which Bush has not denied in his autobiography. Founded in the 1990s, run by Qatar Media Corporation, and intended for Middle East viewers, Al-Jazeera is an international, initially Arabic, news and current affairs channel. Its headquarters are maintained at Doha in Qatar. Over the years, Al-Jazeera extended its network to cover many specialties. Its TV channels and the news are now broadcasted in many languages (Buzzle.com 2010). Unlike other government channels, Al-Jazeera is the only independent channel in the Middle East. It has always broadcasted unorthodox views and shows in crucial times such as live videos of Osama Bin Laden, especially after the 9/11 attack on the twin towers and during the exclusive and live coverage of the Afghanistan war. Its broadcasting policy owned it an international reputation and a wide range of audience. â€Å"It has earned the reputation of being notorious among the critics due to its inclination towards giving coverage to terrorists groups and showing violent footage from war-zones† (Buzzle.com 2010). The channel broadcasted videotapes of Muslim radicals that included Osama-Bin-Laden, Abu Musab al-Zarqawi and Ayman al-Zawahiri. Hoever, its broadcasting policy was not to the â€Å"taste† of many political observers however. For some it was perceived as â€Å"a propaganda machine and Osama bin Laden’s mouthpiece† (Miles 2006). Donald Rumsfeld for example objected that the channel

Globalisation and the State - Discuss Literature review

Globalisation and the State - Discuss - Literature review Example This term provides, in a nut shell, the idea of capitalist globalisation. The transnational capitalist class consists of four segments. These are the owners and affiliates of the transnational corporations that control the business objectives and activities of these corporations; politicians and bureaucrats from different nations; professionals working globally in different sectors and finally the consumerist elite class consisting of rich merchants and media professionals (Sklair, 2001). The transnational capital has become an important part of the capital endowment of the world. Different classes in the Marxist understanding refer to the divisions among workers all over the world on the basis of the relation they have with the social production function (Fouskas and Gokay, 2012). The translational capitalist class has no national boundaries and they are forerunners of the modern spree of globalization. This new bourgeoisie class is recognised as the capitalist class and they repres ent the transnational capital. ... However, recently, the concept of sustainable development has evolved and companies are now concerned about the sustainability of their business activities (Robinson, 2003). Great depression of 2008: Capitalism Perspective Various economists and researchers have studied the phenomenon of the global depression which was a consequence of the large scale financial crisis that occurred during 2007-2008. The global depression of the 2008 has been viewed by many scholars under the light of the global capitalist theory (Krugman, 2009). The rise of the transnational capital and transnational capitalist class has led to the emergence of a â€Å"globally integrated production and financial system† (Robinson, 2012). According to the reports published by commentators of events of economic and political significance in the world, the crisis has its roots in the sub-prime loan fiasco in the United States that had surfaced in mid-2007 (Jones, 2004). It has been emphasised that the financial debacle had been taking its shape for a long period of time even before it came to public notice in mid-2007. The overall global recession followed inevitably and remained effective over the next year. The original cause of the crisis lies deep in Marxist understanding. It can be stated with evidence that the crisis situation was a result of contradictions of state power and over-accumulation. Capitalism strives and progresses by the means of capital accumulation. However, over accumulation of capital restricts the direct productive involvement of human capital in the process of the production. Due to over accumulation, the economic system cannot expand. Marginalization of a considerably high portion of the working population from direct productive participation and downward pressure on wages

Humanistic Approach, Leadership and Motivation, Machiavelli, and Essay

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Should our ethical commitment be determined by the state boundaries - Assignment Example However, there are certain general aspects of ethics which are accepted everywhere in the world. This paper briefly analyses the question; â€Å"Should our ethical commitment be determined by the state boundaries?†. Should our ethical commitment be determined by the state boundaries? â€Å"Values are the rules by which we make decisions about right and wrong, should and shouldn't, good and bad. They also tell us which are more or less important, which is useful when we have to trade off meeting one value over another† (Values, morals and ethics, 2002). Values are different in different societies. For example, Muslims are allowed to keep more than one wife at a time whereas most of the other religions consider such things as sin or unethical behaviour. In other words, values related to sexual activities or marriage is defined differently by different religions. Under such circumstances, the question; whether a Muslim person living in a Christian country should be allowed to keep more than one wife at a time, is relevant. It should be noted that plenty of Muslims are staying in America and Britain like Christian countries. If such Muslims try to follow their customs and traits related to sexual activities while living in overseas countries, the chances of social problems are immense. Same way, same sex marriage is allowed in Canada. â€Å"All same-sex marriages declared legal and valid by Canadian justice minister Rob  Nicholson†(Post media news, 2012). If Canadians try to follow same sex marriage customs while living in another country, social problems may definitely arise. Imagine a situation in which a Canadian male living in Saudi Arabia tries to marry another male while living in Saudi Arabia. â€Å"As per utilitarianism, utility is measured in terms of pleasure and pain† (Crane &Matten, 2007, p.95).. Another argument is that â€Å"Actions are right in proportion as they tend to promote happiness† (Mill, 2004, p.6). It is a fact that same sex marriage provides pleasure to the Canadian, but it provides pain to the society in which these things are unacceptable. In short, it is better to keep ethics and morals within the state boundaries. At the same time, in certain cases, ethics and morals should be allowed to travel beyond the boundaries of states. According to Maccarelli, (2006) â€Å"what a person should do and what a person wants to do are often not compatible† (Maccarelli, 2006). For example, Middle East is a place in which people from all parts of the world are working together. These diverse people have their own beliefs in morals and ethics. Christian workers consider Sundays as sacred days and they always like to have weekly off on that day. On the other hand, Muslims like to have weekly off on Fridays. If a Christian employee asks weekly offs on Sundays, his authorities should consider that demand favorably if possible. Social contract theory says that â€Å"Majority of the humans are self-interested and they will work for preserving their interest. But the law of nature ask commands that each man be willing to pursue peace when others are willing to do the same† (Social Contract Theory, 2004). In other words, the ultimate aim or objective of ethics and morality is to promote peace and harmony across the world. In that sense, it is better to keep unacceptable ethical behaviours within the boundaries of

U07d1 Boxes in our Lives Essay Example | Topics and Well Written Essays - 250 words

U07d1 Boxes in our Lives - Essay Example Our offices or professional settings are also boxes, which confine us. Boxes, which are very small in size such as congested buildings, also appear as confinements such as prisons. Professional settings should have to be open and should have better landscapes around them as there should be natural environment there. For examples, there should be plants and trees in offices and there should be attached lunching places that are outside the offices. The attitudes of administration and other people working should be friendly in order to lessen the confinement felt. As far as prisons are concerned, they should be constructed with big rooms with doors and not cages. It will give a sense of openness and broadness. Friendly atmosphere will also allow us to think that we are not confined and will give us a homely look. Therefore, it is clear that we have to remain in boxes but sense of confinement and security depend on different situations. It is our own understanding that drags us to consider a box as a confined entity or a secure

Humanistic Approach, Leadership and Motivation, Machiavelli, and Essay

Humanistic Approach, Leadership and Motivation, Machiavelli, and Conflict Resolution and Vision - Essay Example Humanistic Approach, Leadership and Motivation, Machiavelli, and Conflict Resolution and Vision. Specifically, I learnt that leaders may be born or made. This research helped me understand examples of leaders who are born with power and leadership and those who are made leaders. I also learnt that motivation is crucial in enhancing work performance, productivity, and satisfaction. I believe that this class has increased my knowledge in management. I will use this knowledge to impact those around me by helping them understand human behaviours and how they can foster motivation and effective leadership. Humanistic Approach Humanistic management is the process through which different streams of humanisms are linked or connected. It focuses on the field of economics and business as the primary force that drives the society. The humanistic approach to management helps to understand human beings as absolutely self-serving or independent individuals. We understand the concept of humanistic management on the basis of three dimensions. The first thing is that human beings deserve and exp ect their dignity and worth to be respected under all circumstances. Secondly, businesses and organizations must embrace ethical decisions that promote the well-being of employees and staff members. The last thing is that embracing corporate responsibilities is crucial in strengthening and maintaining an ongoing relationship with the stakeholders. According to Murray, Markides and Galavan (2008), it is appropriate to apply human approach in business context where dignity and respect of every individual is the foundation that builds and maintains interpersonal interaction. This approach helps the management to embrace every individual in the organization regardless of where he comes from or what he owns. The integration of ethical reflection into the business is the key process from which effective and quality decisions are made. The solitary managerial decision on where an action is ethically sound depends on the humanistic approach to management. However, the approach may not be ap propriate in providing excessive freedom. It is important to note that, the humanistic theory make some assumptions about human nature, which are not accepted as solid or complete. One cannot adequately argue that every individual should be given freedom to choose what he wants or not. This is because some people may make negative choices even when right solutions are staring at them. These facts plague the humanistic approach to management and therefore establish the need to offer sufficient guidance for positive change to occur. Still, it may not be appropriate when managers are mean and misunderstand how their employees perform their assigned duties. When managers treat their employees like this, they get depressed and sad and thus become unproductive in the workplace. Since humanistic approach to management is based on the self and client centred therapy, then it benefits people to discover and identify their personal capacity that stimulates self-assessment and self-development . This approach creates a ground for people to understand their strengths and work hard to improve on their weaknesses. However, this approach requires people to understand the root of their problem before building or fixing the solution. With this, this approach may not perfectly work for everyone since some people may be threatened and challenged to find out the root cause of their problems. Still, this approach regards that human beings must understand that they are hold

U07d1 Boxes in our Lives Essay Example | Topics and Well Written Essays - 250 words

U07d1 Boxes in our Lives - Essay Example Our offices or professional settings are also boxes, which confine us. Boxes, which are very small in size such as congested buildings, also appear as confinements such as prisons. Professional settings should have to be open and should have better landscapes around them as there should be natural environment there. For examples, there should be plants and trees in offices and there should be attached lunching places that are outside the offices. The attitudes of administration and other people working should be friendly in order to lessen the confinement felt. As far as prisons are concerned, they should be constructed with big rooms with doors and not cages. It will give a sense of openness and broadness. Friendly atmosphere will also allow us to think that we are not confined and will give us a homely look. Therefore, it is clear that we have to remain in boxes but sense of confinement and security depend on different situations. It is our own understanding that drags us to consider a box as a confined entity or a secure

Moral Values and Social Boundaries Essay Example for Free

Moral Values and Social Boundaries Essay Thesis statement: Certain limits should be applied to the constitutional right of ‘Freedom of speech’ as it encourages ethnic speech (ethnically and racially discriminating talk) A restriction on free speech is very essential on college campuses. Political correctness is found to be a mere attempt to be sure that everybody on campus feels welcome and is able to learn as per. Certain limits should be applied to the constitutional right of ‘Freedom of speech’ as it encourages ethnic speech (ethnically and racially discriminating talk) in educational institutions. Racially offensive speech in US institutions has led to several problems. Ethnic speech is widely evident in educational institutions. Racial jokes and ethnic speech are also prevalent in work places. Ethnic speech creates inferiority complex in lower classes. It is also against the policies of affirmative action (Arthur, 2004). The reason for the unacceptability of racially offensive talk is that the intentions behind them are always bad. They do exploit racial stereotypes and the talk often becomes offensive. Limits on freedom of speech are justified as there is a big relation between freedom of speech and racial speech. Look more:  ethnic group examples essay It is high time that we eliminate racially offensive talk from our society. For that the most important step is a restriction on the freedom of speech. The absence of limit on freedom of speech encourages racially offensive talk in college campuses in US (Arthur, 2004). Racially offensive humor is increasingly unacceptable and is based on the concept that certain ethnic groups are superior to others. Ethnically superior groups are of the belied that they do have very right to make fun at other inferior groups. The powerful faction has always assumed that they are superior to others in its race and culture. These ethnic groups will try to put down other inferior groups in order to strengthen their own group (Arthur, 2004). The superior group will thus feel no guilt in hurting the feelings of the inferior group. Ethnic and racial speech is generated out of this superior feeling and undermines the unity and cooperation prevailing in the society (Arthur, 2004). Had there been a limit on the freedom of speech, these kinds of racially offensive speech would have disappeared from the educational institutions in US. Even though freedom of speech is quite important as far as American society, a restriction on it is the real need of the hour. Uncontrolled speech may result in further segregation and racial classification. Offensive speech, of any form, should be discouraged so that it would not further create problems in the already segregated society. The panacea for all this is nothing but a limit on the freedom of speech (Arthur, 2004). Ethnic jokes are much prevalent in college campuses. Ethnic jokes exploit racial stereotypes. They are often racist and frequently offensive (Davies, 1982). Ethnic jokes are very popular and prevail in almost all societies. They do also play a great role in arising ethnic differences, exploitation and segregation. Ethnic jokes are targeted towards typical ethnic groups, possessing typical characteristics (Hughes, 1966). The usage of these kinds of jokes upgrades or degrades the value of a group in general and ignores the importance and uniqueness of the individual (Lorenz, 1963). Ethnic humor hurts the feelings of people as it leads to various segregations and discriminations (Davies, 1982). Racially offensive humor is increasingly unacceptable and is based on the concept that certain ethnic groups are superior to others. Ethnically superior groups are of the belied that they do have very right to make fun at other inferior groups (Dance, 1977). Ethnic humor is a powerful, destructive and senseless practice that is followed by one generation and transferred to the next generation. The powerful faction has always assumed that they are superior to others in its race and culture. These ethnic groups will try to put down other inferior groups in order to strengthen their own group (Davies, 1982). The superior group will thus feel no guilt in hurting the feelings of the inferior group. Ethnic humor is generated out of this superior feeling and undermines the unity and cooperation prevailing in the society. There are various biological and socio-cultural distinctions which people consider as a base to make ethnic jokes. They sometimes consider color of the skin (lightness or darkness) or other differentiating markers as base for making humor. They do consider various other ethnic differences and cultural variations (Hughes, 1966). No ethnic group has the right to make ethnic jokes against ant other ethnic group. Ethnic humor is always humiliating and insulting. It would only result in further segregation and racial classification. Ethnic groups, of any form, should be discouraged so that it would not further create problems in the already segregated society. Freedom of Speech is the boosting factor of ethnic speech in educational institutions. Institutional racism (systemic racism or structural racism) also prevail in our society. The white institutions are found to be reluctant to serve people of color (non-white minority). Institutions are historically set up to serve only white communities. These institutions function on the basis of race. They operate on the policy of segregation. Institutional racism is the concept that one race is superior to other. Organizations and institutions (both government and private) do racial discrimination, marginalizing the inferior faction. Even though the institutions exclusively for inferior race were technically illegal in America till 1863, our areas still have such institutions. These institutions offer their service only for superior faction and ill-treat students belonging to our community. Institutional racism is followed in all organizations, public bodies, educational institutions (universities) and corporations. Institutional racism influences almost all policies, processes and policies (in both governmental and public institutions). Institutions were historically set up to serve only white communities. These institutions function on the basis of race. They operate on the policy of segregation. Institutional racism is the concept that one race is superior to other. Organizations and institutions (both government and private) do racial discrimination, marginalizing the inferior faction. Institutions exclusively for inferior race were technically illegal in America till 1863. These institutions offer their service only for superior faction and ill-treat people of color. Legislations against racism have made institutional racism disappear to a good extent in United States. Ethnic speech in educational institutions is one of the worst sides of institutional racism. Freedom of speech is encouraging racial talk and ethnic humor. It is high time that we put a restriction on freedom of speech so that at least educational institutions are free from segregation. Colleges and universities have a moral obligation to ensure a peaceful, respectful learning environment for all students. It is therefore necessary to come down hard on speech code offenders. All employees and students should be able to enjoy and work in an educational environment free from discrimination and harassment. Harassment of any person or group of persons on the basis of race, color, nationality, origin, religion, sex, sexual orientation, age, disability, or veterans status is a form of discrimination that must be prohibited in all educational institutions. Employees, students, student organizations, or person privileged to work or study in the university community who violates this policy must be subject to disciplinary action. This will finally eliminate racial speech and discrimination from educational institutions. Harassment codes do not violate students First Amendment rights. A restriction on free speech is very essential on college campuses. Political correctness is found to be a mere attempt to be sure that everybody on campus feels welcome and is able to learn. References John Arthur, Morality and Moral Controversies: Readings in Moral, Social, and Political Philosophy, Prentice Hall, 2004. â€Å"A Question of Fairness† Ladies Home Jorunal, March 1996, p 17-20. Lubman, Sarah â€Å"Campus Admissions† Wall Street Journal, May 16, p81. Dance, Darryl. Wit and Humor in the Slave Narratives. Journal of Afro-American Issues. Spring, 1977: 125-134. Davies, C. â€Å"Ethnic Jokes, Moral Values and Social Boundaries. † British Journal of Sociology 33 (1982): 383-403. Hughes, Langston, ed. The Book of Negro Humor. New York: Dodd, Mead, 1966. Lincoln, Kenneth. Indin Humor. New York: Oxford, 1993. Lorenz, Konrad. On Aggression. Trans. Marjorie Kerr Willison. New York: Harcourt, 1963. Lowe, John. Theories of Ethnic Humor: How to Enter, Laughing. American Quarterly 38 (1986): 439-460. Rich, Frank. The New York Times 13 March 1994: IV, 17.

Market Analysis for 3D Printer

Market Analysis for 3D Printer Market Analysis Target Market 3-D printing is the process of creating three-dimensional solid objects from digital models. Our 3D printer specializes in manufacturing circuit motherboards and chips. In general all technology-based industries are our target market. Our prime target market is computer companies like Apple, Dell, HP, Toshiba, etc. and Smart phone companies like Blackberry, Samsung, Apple, Nokia, LG, etc. Hence there is a wide market demand for 3D printers due to its unique features. Motherboards and circuit chips are essential for the design of most technology-based instruments. Industries designing and involved in systems engineering of these instruments acquire them from various companies. Foxconn, Gigabyte Technology, Gumstix, IBM and Intel are some of the market leaders in the motherboard and Integrated circuit chips manufacturing business. Support services The circuit models to be printed generally need to be in a format supported by the printer. Formats such as layouts from AWR design environment and Simulink are currently the two formats being supported by the printer. The two are the most popular design environments for contemporary engineers. The design engineers of the customer company will be provided will all the necessary support. Support will be provided in the following ways: Training sessions for design engineers to convert to supported circuit layout format Training on general maintenance of printer Free layout conversion support for the first six months for for formats different from AWR and Simulink Provide specialized design engineers for companies Market growth 3D printers are quite novel. The current businesses based on 3D printing have blossomed, such as Shapeways. They have uploaded around 100, 000 new products for printing every month in 2013. http://www.shapeways.com/blog/archives/2394-2013-shapeways-3d-printing-year-in-review.html The growth of the use of 3D printing can also be noted from exponential upward increase in number of 3D printable items in Thingiverse, which is an open-source design repository. Figure 1 is the outcome of the analysis achieved by a partnership of the Economist and IBM Figure 1: Growth of open-source design repositories http://on3dprinting.com/tag/industry/ The statistics discussed above clearly portray the rapid growth in use of 3D printers in general. Market Trend Many major companies currently are using 3D printers. Some of them include Boeing, Ford, Nike, General electric and Cochlear. Boeing for example uses them for making airline parts. The 787 Dreamliner has around 30 3D printed parts. http://www.techrepublic.com/article/3d-printing-10-companies-using-it-in-ground-breaking-ways/ These examples portray the trend in shifting to 3D printing instead of traditional manufacturing techniques. Due to the rapid development in 3D printing, the technology is expected to mature in the coming years into a cost effective approach for electronics industry. Market evolution As it can be seen from the market trend section, many companies are now using 3D printers for manufacturing. The market is expected to evolve dramatically if the cost of mass production can be somehow reduced. Some of 3D printers advantages: It will be faster and cheaper than the usual prototyping methods. Its Greater ability to customize products. It will be able to perform at uni-stage process, which saves the cost of tools. It will help in producing motherboards and circuit chips which more easily than traditional methods of manufacturing them. Competitor reaction The metals 3-D printing space: 3D Systems Corp., ExOne Co., and Arcam:Some companies which use 3-D printing systems that can print in metals are 3D Systems Corp, ExOne and Arcam. ExOne offers sytems which will be able to print in metals, sand, glass. Companies like this will be able to produce 3D printed motherboards and circuit chips when they see our product, since they are already capable in producing in metals. High completion between these companies will cause the cost of the 3D circuit chips and motherboards to fall. Since Smart phones and computers will benefit highly from the 3D motherboards and circuit chips, Smart phone and computer companies might even subsidies companies producing 3D circuit chips and motherboards. Business plan template:http://www.business.gov.au/Howtoguides/Thinkingofstartingabusiness/Whatplanningtoolscanhelpme/Pages/Businessplanguidesandtemplates.aspx Marketing Plan Product Our product is a novel 3d printing technology that prints Motherboards and Integrated circuits. Next dimension’s 3d printers can be used for manufacturing and also prototyping. Design engineers can simulate the circuit models and generate circuit layouts. These layouts can then be used to print out the circuit directly. The printed circuits can be used tested for different required specifications. Pricing strategy The pricing strategy involved thorough analysis of the present 3D printer market. Although our product is a novel 3D printer, we strive to offer the best value for money for our printer. Potential competitors such as Stratasys have printers ranging from $15, 000 to $75, 000. Production printers provided by them are $50, 000 and above. Our printers will cost $42, 000 and provide the exceptional novel technology of printing Integrated Circuit chips and Motherboards. http://www.stratasys.com/resources/~/media/970DE4A9F3134110817C731796C5CA5E.pdf Advertising promotional strategy Planned promotion /advertising type Expected business improvement Cost ($) Online Advertising Online advertising allows more customers worldwide to know about the product compared to traditional advertising. Internet advertising is ideal for businesses with a national or international target market and large-scale distribution capabilities It is more cost effective and less time consuming. 5000 Print media advertising Newspapers and magazines are abundant in supply and these will create greater exposure and better and frequent advertisement. Compared to other media advertisements, print ads are less intrusive. Passive processes such as listening to radio and watching television may or may not compel attention. Whereas a person makes a concious decision to engage to the images and words of a newspaper 15000 Mail out It is highly measureable which helps companies to measure the result of advertising campaigns. It is more tangible than other forms of advertising. 4000 Social media campaign It is the most cost effective way to promote a brand or a product and spread its advertisement through the internet or media. The amount of information that can be provided is much greater than in any other form of communication. One of the defining characteristics of socal media advertising is interactivity. We will have official accounts on Twitter, Google+, Facebook, youtube and our own forum for consultation. We aim to monitor social networks and answer customer queries. This will also allow us to have an understanding of our state in the market. Information and analyses from these networks will be sent to our management team so that we can improve our services continually. NA Sales distribution channels Channel type Percentage of sales (%) Advantages Disadvantages Internet 75 Greater degree of freedom for customers. Supplier saves time and cost of distribution of their products. They are also able to interact in a massively growing market. Automatic marketing sales and delivery makes the marketing a lot easier and quicker. Online sales also allow instant feedback on new changes. The marketing costs are relatively lower and better targeting. Promotional strategies can be specifically aimed at potential customers. The internet allows impersonal interaction between seller and the buyer since not enough communication. Online fraud can happen which means loss of money for both the consumer and the producer. When the website goes down, company loses out on payment transactions which means less profit for the company. It is not always easy to have a team of staff who are efficient enough to manage the website. Wholesale 15 Since products are bought in bulk and at a cheaper rate there is higher profit margin. It requires a large amount of money buying wholesale products. Since manufacturers require minimum order quantity in order for you to take advantage of the wholesale price, you need to shell out a large amount of capital. Shop front 10 (initially) We will start off with a store in Sydney and keep expanding. 3D printing concept is still quite new and allowing our customer to have a first hand experience of how the process works will do wonders. Design engineers will be present from time to time to also conduct talks on the layout generation process. The cost side of this attempt is a drawback. We do not expect to generate enough sales through this channel to make it profitable initially. However we believe that starting up a business with a shop front will be profitable in the long run.

Robertson Davies Fifth Business Essay -- Robertson Davies Fifth Busin

Robertson Davies' Fifth Business In the novel 'Fifth Business', the author Robertson Davies is successfully able to relate both the themes of magic and religion throughout. He achieves this relationship between the themes primarily through the characters and their actions. Dunstan Ramsay, Paul Dempster, Mary Dempster and Liselotte Vitzliputzli all help to illustrate the close relationship between magic and religion. One of the characters that Davies uses to relate the theme of magic and religion is Dunstable Ramsay. Dunny was brought up in a Scottish Presbyterian family in Deptford, Ontario. While in the war, he kept himself busy by reading the New Testament and states 'Arabian Nights and the Bible were getting pretty close', referring to both magic and religion. After servicing in the war, Dunstable is renamed Dunstan by Diana after Saint Dunstan. Dunstan's study of saints becomes his passion and he later travels around the world in search of information about several living saints. During his search for saints, Dunstan coincidentally comes across Le grande Cirque forain de St. Vile and Illusions, a circus where Paul Dempster preformed magic. This clearly indicates how Dunstan is related to both magic and religion. Paul Dempster, another character in the novel illustrates the relationship between magic and religion. Paul is the son of Mary Dempster who Dunstan considered to be a saint. His father, Amasa Dempster is the Baptist parson of Deptford and is considered ...

What is the purpose of the Human Relations Area Files? :: essays research papers

What is the purpose of the Human Relations Area Files?   Ã‚  Ã‚  Ã‚  Ã‚  Imagine a dictionary with over 800,000 pages of definitions in it. It would have every definition of every word, and every pronunciation of that word in it. Well the Human Relations Area Files are almost that, but with culture in mind.   Ã‚  Ã‚  Ã‚  Ã‚  The HRAF started by George Murdock in 1949 at Yale University, is a collection on microfiche of over 800,000 pages of primary source materials, including books, journal entries, dissertations, unpublished field reports and many translations on selected cultures or societies from all over the world. These 800,000 pages of material contain and classify 700 cultural characteristics and it includes about 400 societies past and present. This includes warfare, substance practices, settlement patterns, marriage, and rituals. They are then catalogued and cross-indexed with ethnographic data, filed by geographic location and cultural characteristics. The subject access is provided by an alpha-numeric coding system based on geological area and cultural groups, subdivided by traits. Each culture or ethnic group contains a variety of source documents ( books, articles and dissertations ) that have been indexed and organized.   Ã‚  Ã‚  Ã‚  Ã‚  So what does all of this mean? Let me try to explain. It is all of the observation notes of one particular culture. But its even more than you think, its notes upon notes upon notes. It helps us find an explanation for certain cultural beliefs and practices. One fraction of an example is; Who dances for rain? Why do they dance for rain? What do they do if they do not get rain? Etc... All of this is recorded. It can be shared and then linked together, so we could one day find out that maybe the American Navaho Indians and the Australian Aborigines, both have a similar rain dance ritual. These files are like one big reference library, built by all cultures, that many people can gain access too.   Ã‚  Ã‚  Ã‚  Ã‚  Some of the purposes of these files are to allow us to establish correlations between cultural features, but not conclusions about the causes and effects.