Essay History of Propaganda in Art - 861 Words

Throughout history, the purpose of art is dedicated to anything from decorative embellishments to religious tributes. However, art was also used by rulers and other powerful figures for propagandistic reasons as well. This can be seen through a survey of art pieces ranging from the Hellenistic period to the Ottonian period. At the beginning of the Hellenistic period Alexander the Great had just passed away, leaving his vast empire fragmented amongst many individual leaders. Many of the Greeks left the Balkan Peninsula to seek commission abroad, thus forsaking their identity and ties to the old Greek city states. The result was a greater focus on the individual, a psychological sense of isolation, as well as a mixture of foreign and†¦show more content†¦The body of the chieftain is particularly exaggerated creating a forceful rippling in the musculature, which is a testament to the Hellenistic Baroque achievement of energetic movement and intense psychological involvement. T he Greeks were largely impressed with the courage and fighting abilities of the Gauls, which had reminded them of their defeat of the Persians. Ultimately, the purpose of glorifying their enemy was to convey the message that the defeat of such an impressive enemy made the Greeks’ victory and power even greater. During the Roman Imperial era, under the rule of Augustus, the idea that the emperor is the principate, or the foremost citizen of the state chosen by the gods to rule, is adopted. This idea is exemplified in the sculpture of Augustus of Prima Porta. Here, Augustus is portrayed in a classicizing manner and a typical Greek contrapposto stance which serves to liken the reign of Augustus to that of the golden age of Classical Athens. This style which had been used to portray great heroes during the Greek Classical era also serves to liken Augustus to the Greek heroes who were idealistically athletic and strong (desirable qualities in a leader). In addition the figures on his armor are images of Greco-Roman gods, who are giving their approval of Augustus’s recent territorial acquirements. Furthermore,Show MoreRelatedWorld War I Was Not Inevitable1681 Words   |  7 Pages such as its art. Not only were new movements created, but also new styles of existing forms of art resulted from the war. Because of the different ways that art developed both on and off of the battlefield during the Great War, WWI is one of the most influential wars on the development of art in the twentieth century. Art in World War I was observed in many forms, from photography to art movements on the home fronts of many countries. What many people did not realize is that art was also usedRead MoreRoman Art : A Picture Book By Christine Alexander Essay1497 Words   |  6 PagesThe Roman Republic is famous for many events, people, and histories. 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Charles Marius Barbeau’s Ethnography and the Canadian...

Charles Marius Barbeau’s Ethnography and the Canadian Folklore Born on 5 March 1883, in Sainte-Marie-de-Bauce, Charles Marius Barbeau is widely seen as the first Canadian educated anthropologist. He graduated from Università © Laval in Quà ©bec, from his studies of law, in 1907; he never practised law. Upon graduating, Marius was awarded – as the first French-Canadian recipient – the Cecil Rhodes scholarship which allowed him to study at Oxford University where he was introduced to the emerging field of Anthropology.  « Je [voulais] savoir comment l’homme a à ©tà © crà ©Ãƒ ©  » he later explained to Marcel Rioux. (Benoà ®t 1959a) During his stay in Europe, Marius also attended classes at the Sorbonne’s École des Hautes Études and at the École†¦show more content†¦But his sometimes contradicting statements require a more precise study, so we will simply present his main positions, and state some of the opposing points without thoroughly analysing them. Marcel Mauss – whose classes Barbeau attended – concludes in a 1902 document on ethnographic method:  « En somme, rester cantonnà ©s sur le terrain des faits religieux et sociaux, ne rechercher que les causes immà ©diatement dà ©terminantes, renoncer à   des thà ©ories gà ©nà ©rales qui sont peu instructives ou qui nexpliquent que la possibilità © des faits, ce sont là   plutà ´t des actes de prudence mà ©thodique que des nà ©gations scientifiques.  » (Mauss 1902) In the same line of thought, Franz Boas – the famous American anthropologist, also a contemporary of Barbeau – stresses the need to focus on collecting data. He even criticizes social and anthropological theory makers. (See Boas 1920) Barbeau was, at the beginning of his career, much influenced by these ideas. He collected data on many aboriginal societies – mainly of the Northwest Coast, of Quà ©bec and of the North of the USA – and later, at the suggestion of Bo as, he started recording folk songs, legends and myths from French-Canadians. But we will see that Barbeau did advance some quite controversial theories later in his career. This collecting of folkloric data opened Barbeau’s eyes to the need to salvage the cultures of Native and French Canadians alike.  « Fortement inspirà © par l’ethnologie de la

Financial analysis of BG and Shell Free Essays

INTRODUCTION According to the requirements stipulated in this assignment, this essay would be analysing two companies: BG group Plc and Royal Dutch Shell Plc. Both companies are oil and gas producers and they operate in the integrated natural oil and gas industry. They are involved in the exploration, development, production, and marketing of gas and oil. We will write a custom essay sample on Financial analysis of BG and Shell or any similar topic only for you Order Now They are both quoted in the oil and gas industry sector of the FTSE 100 index. a. Background of the Oil and Gas Industry Over the last 50 years, the oil and gas industry has been by far the most successful industry in Britain; providing employment to 380,000 people, adding ?4 billion a year to balance payments and a massive investment over the last 25 years by ?150 billion. This sector has reinforced the British economy by supplying the energy and necessary chemicals for its transport industry and homes. Additionally, since the 1970s, the oil and gas industry generated ?150 billion in taxes and valuable export revenues. b. Royal Dutch Shell Royal Dutch Shell is a Multinational corporation consisting of two companies: Royal Dutch Petroleum Co., of Hague, Netherland, and Shell Transport and Trading Corporation PLC of London, England. These two companies commenced as rivals. In early 1897, Marcus Samuel took over his father’s business and began selling kerosene. After this, he shifted to the oil industry in East Asia and created Shell Transport and Trading Co., Ltd. At same time, in 1890 the Royal Dutch Co was established by a group of Dutch businessmen (Mallin, 2006). The aim of the company was to explore the Oil Wells in the Dutch Indies. To achieve these targets, in 1892 it constructed the first refinery in Sumatra, Indonesia. It was not until 1907 when the two firms merged to become the Royal Dutch Shell Group. The company has become known in different countries such as Egypt, Mexico, Iraq, Romania, Russia and Venezuela. Shell emerged as the largest energy company and the second largest company globally regardin g its revenues. The main interests of this company are liquefied natural gas and petrochemicals, aviation, shipping, and automotive fuels. c. BG group Plc. BG Group plc is one of the most successful companies in the FTSE 100 index. It operates in the integrated natural oil and gas market and engages in the exploration, development, production, and marketing of gas and oil. The company’s headquarters is in Thames Valley Park in Reading, Berkshire, United Kingdom. It is an international firm which operates in 25 countries across the world and produces 680 000 barrels of oil per day (Jahn et al., 2008). The company was founded in 1997 when British Gas plc divested Centrica and became BG plc, which was reorganised in 1999 as BG Group plc (Bryant, 2003). Question 1: Analyse the liquidity, profitability and use of short term assets and liabilities of the two companies you have chosen and compare the ratios with the sector average and explain how the two shares have performed compared with the FTSE during the last financial year. In order to assess the liquidity situation of both companies along with profitability condition, different liquidity ratios have been analysed based on the companies’ annual reports 2010 and Yahoo 2011 financial website for the year ended 2010. The liquidity ratios of BG group and Royal Dutch Shell are illustrated in Figures 1 and 2 (for full tables see the Appendix). Royal Dutch Shell has maintained relatively stable current and quick ratios. Current ratio illustrates whether or not a company maintains enough resources to pay back its debts over the coming financial year (Watson, 2006). It is determined by the ratio of net current assets to net current liabilities. For Shell company the ratio increased by 7.45% over the 5 years period. Furthermore, the current ratios of the last five years exceeded one, which proved that Royal Dutch Shell would be able to honour all its short-term liabilities by its current assets without the need to utilise other sources; such as issuing shares or using new debts. Therefore, this gives clear evidence that the firm’s liquidity situation is in excellent health. The quick ratio represents the ability of a firm to utilise its cash/assets to cover its current liabilities instantaneously , which is calculated as a ratio of total assets to total liabilities. This has fallen by 8.87% over the past five years to 1.8669 in 2010. In 2010, the current and quick ratios of Royal Dutch Shell were 1.1227 and 1.8669. These are below the average ratios of the company over last five years: 1.15694 and 1.88726 respectively. This ideally shows that the liquidity of the company has been slightly decreasing in recent years. Figure (1): Current and Quick ratios of Royal Dutch shell over the last 5 years On the other hand, the quick ratio of BG group has also decreased over the last five years; it began with 2.13 in the first period and decreased to reach 2.0389 in 2010. Moreover, the current ratio also diminished from 1.4684 to 1.1214. One reason could be that the reduction in the firm’s liquidity is as a result of the major issues that have affected the oil and gas industry recently. For instance, the oil spill in Mexico, and the massive impact on BP and other oil companies caused cost of drilling and exploring call in certain regions to rise. Figure (2): Current and Quick ratios of BG group over the last 5 years According to Watson (2006) having a liquidity ratio over one is not enough to assess whether a firm would have difficulties to confront any short term risk arising from the liabilities and, for this reason, the company’s current ratio should be compared to the overall industry or sector average ratio. Hence, after comparing the current ratios of both companies to the average of eight leading companies in major integrated oil and gas industry (see Appendix), the two companies hold almost the same amount of current ratio (1.12). However, they were below the average ratio of the industry by 8%. In a conventional industry, if the current ratio is over one then it is a good indicator. However, in major integrated oil and gas industries the average ratio is 1.2 which imposes on the two companies to adjust their ratio, or else they will face increasing threat of being cash strapped if they are not able to increase profitability, cash flow or reduce liabilities. The profitability ratios of Royal Dutch Shell Plc and BG group Plc were calculated based on its ROE, ROA, profit, operating and gross profit margin. These were all compared to the average industry in order to draw an accurate representation of the companies’ financial situation. For both companies, Return on Equity and ROA exceeded the average sector by 1.63 and 2.62 for BG group Plc, and 1.7, 0.33 for Royal Dutch Shell Plc respectively. However, BG group Plc overperformed Royal Dutch Shell Plc and industry regarding the profit and operating marginal, but both companies were overtaken by the industry gross profit ratio. Profitability ratios attempt to determine a company’s ability to use and control its assets and expenses in a rational manner to generate acceptable rate of return (Buckley, 2004). Based on the ratios calculated, both companies have been able to improve their profitability sufficiently over the average sector ratios. In summary, both companies are liquid firms and have been able to withstand the effects of the oil spill and oil price increases through effective cash management. They have constant and above average liquidity ratios, positive networking capital and acceptable profitability ratios. Figure (3): Percentage change in stock price for BG group, Royal Dutch Shell and FTSE 100 index Key: BG.L (blue): BG group Plc; ^FTSE (red): FTSE 100 index; RDSA.L (green): Royal Dutch Shell plc. Source: Yahoo Finance (2011) As illustrated in Figure (3), the stock market prices of BG group and Royal Dutch Shell fell during the middle of 2010, specifically in early May. The oil spill by BP in Mexico had hugely deteriorated the market value of both stocks. However, the stocks of both companies tended to increase after the oil spill issue was solved. Moreover, the stocks of both companies and FTSE 100 seem to move in same manner to reach their peak by the end of 2010. In the beginning of 2010, both companies and FTSE100 stocks were moving in very close way, but the Mexico’s oil disaster caused investors to walk away from investing on oil companies’ shares. By the end of August 2010 stocks of both companies started to rise, along with FTSE 100, and by the end of 2010 all stocks of both companies and FTSE 100 reappeared to move in the same way but with higher values. Question 2: Critically evaluate each firm’s choice of capital structure and how their method of financing has affected shareholder wealth and explain whether or not it is possible for a company to have an optimum capital structure. The capital structure of a company, as defined by Fridson and Alvarez (2002), as the ratio to which the company’s operating, financing or investing activities are financed through debt and equity. It is simply a ratio of the company’s debt to its equity, otherwise known as gearing or leverage. The capital structure determines the long term functioning capacity and also its attractiveness to banks and investors (Watson and Head, 2006). Consequently, the capital structure is an indicator of the company’s financial fitness. As illustrated in figure 4 below, Royal Dutch Shell’s capital structure is based mostly on equity. Its gearing has fallen to over 85% in 2010, compared to 87% in 2009. This is due to falling profits. However, the amount of equity is five and half times the amount of debt. Therefore it represents a low geared company that relies on equity to finance a vast majority of its activities. Figure 4: Comparison of the capital structure for Royal Dutch Shell between 2009 and 2010 A company that is considered as low-leveraged has complete freedom in its operations without the need to be concerned about issues that debt may have due to inaccessibility to future credit. Figure 5: Capital structure of BG group Plc between 2009 and 2010. Examining BG group Plc’s capital structure above shows that its gearing has increased by 4.8% to move up to 25.2% in 2010. The balance sheet therefore shows that it has changed its capital structure by increasing levels of debt from $19.212 billion to $23.615 billion, as well as also increasing shareholder equity from about $23.23 billion to over $26.684 billion in 2010. However, the debt increase exceeded the equity increase, thus resulting in a debt/equity ratio increased (BG group Plc, 2010). Furthermore, analyses of the company’s financial annual report illustrates that it has issued ˆ750 million and ?750 million of bonds maturing in 2019 and 2025 respectively. Both of these are under the euro medium term note programme, and $350 million and $650 million of bonds maturing in 2015 and 2020 respectively could be taken as strong evidence that the company has shifted its system of rising money from equity to debt by issuing bonds. Therefore, measuring BG group’s capital structure based on its ability to repay future debts may be difficult due to the massive bond issues, which considerably exceeds the net amount raised from equity. Judging by the current credit markets in which loan provisions are scarce and conditions for getting one are hard, BG would have slightly more difficulties than Royal Dutch Shell in obtaining working capital or long-term loans. Though its capital structure does look healthy from an external point of view, comparing the average sector debt to equity ratio which was 37.45% in 2010, both companies are in excellent positions as both of them are far away from any risk of interest rate volatility. Therefore, a good conclusion could be drawn about the ability of both companies to meet interest repayments, and to operate in an efficiently manner to expand their business as a result of their relatively low liabilities. As mentioned, Fridson and Alvarez (2002) state that capital structure refers to the manner in which an organisation finances its assets; this could be either by combination of equity, debt, or hybrid securities. The relationship between capital structure and company value has fuelled the researcher’s interests to conduct more research on this area. According to literature, the debate has concentred on whether there is an optimal capital structure for a firm or the proportion of debt used in constructing the capital is irrelevant to the firm’s value. The Modigliani-Miller theorem states that under a certain market characteristics such as: price random walk, in the absence of taxes, agency costs, asymmetric information, and bankruptcy and in an efficient market, the proportion of debt which has been used by company will not affect its value moreover it does not matter how the firm is financed (issuing stocks or selling debt). The Modigliani-Miller theorem is generally called the â€Å"capital structure irrelevance principle†(Hatfield et al., 1994). The aim of this theory is to establish capital structure which balances the risk of bankruptcy with the tax savings of debt. Therefore, it would provide better returns to shareholders than they would receive from an all-equity firm. Despite its theoretical appeal and all efforts behind it, academics and practitioners in financial management have not found the optimal capital structure yet. The only prescription that could be achieved is to satisfy short-term goals. The main flaws of this idea are that it fails to consider either the complexities of the competitive environment, or the long-term survival needs of the organization. According to Welc (2008): â€Å"The fact that an optimal capital structure has not been found is an indication of some flaw in the logic. We believe that the original question was framed incorrectly. Rather than: What is an optimal mix of debt and equity that will maximize shareholder wealth; it should have been: Under what circumstances should leverage be used to maximize shareholder wealthWhyBecause debt and equity have profound long-term implications for corporate governance that far exceed the exigencies of the moment.† Question 3 Explain whether or not the share price on the 5th of November represents fair valuefor would be investor and explain whether or not the investor ratios give a guide as to the future share price. Critically evaluate the arguments for and against the efficient market hypothesis and explain how the npv criteria relate to investing in shares. The term, â€Å"market efficiency†, has always been a fundamental concept in the financial literature. It describes the decisive impact of information on the price of financial assets and economists refer to it as operational efficiency, highlighting the way resources are utilised to ease the workings mechanisms of the market. However, the most common definition was provided by Fama (1970) who stated that at any given time, securities’ price on a particular stock market fully reflects all the available information on this stock market. Hence, according to the efficiency market hypothesis (EMH), all investors have access to the same information that is already available on the market; therefore, no advantage is taken from private or inside dealing information. In other words, market efficiency reflects the impact of changes in information about a given security on its price. Favourable information is expected to result in an immediate increase in a security price while u nfavourable information will have the opposite effect. The efficient market hypothesis is linked with the term â€Å"random walk† which has been used in the financial literature to refer to a price series where all changes in the prices reflect a random change, regardless of previous prices. This concept emerged from the works of Kendall (1953) and Roberts (1959) where, after analysing the UK stock and commodity prices series and the US stock market, they found clear evidence that the prices change randomly. The logic behind the random walk concept is that if the information is instantly reflected in stock prices, then the day after any price change would only reflect the news of that day and will be independent of the price change of previous day. According to the unpredictability of the news, the price changes must therefore be unpredictable and random. Hence, this statement implies that the investor would achieve the same result of buying and selling securities by himself as by the experts. It was in the early years of the twenty-first century when many financial economists and statisticians started doubting that stock prices could be accurately predicted by emphasising the psychological and behavioural character of stock price determination. Moreover, these financial experts believed that future stock prices can only be slightly predictable based on the patterns of past stock prices and certain fundamental valuation metrics. However, some economists exaggerated by stating that these predictable patterns would allow investors to reap benefits from reducing risk and increasing the levels of return of their securities. In order to assess whether the price of share for both companies fairly reflects the information available in the market, at 5th November 2010, a comparison was provided for the both stocks one week before and after that day (the result depicts in figure 5): Table (1): stock prices of BG group and Royal Dutch Shell Stock 1st November 2010 5th November 2010 8th November 2010 Closing price Day’s change Closing price Day’s change Closing price Day’s change BG group ?12.11 -0.05 ?12.9 -0.04 ?12.7 -0.14 Royal Dutch Shell ?20.16 +0.17 ?20.44 -0.10 ?20.26 -0.18 Source: Financial Times 2011 It is clear from table (1) that over the period of one week before and after 5th November 2010, the prices of both companies’ stock have moved relatively in stable manner. Moreover, regarding the available public information at that point, the prices of the stocks fully and fairly reflected all the information and data that was available which confirms that the UK stock market is an efficient market where all the past and available information is already reflected on its prices. As the UK stock market is a developed market, the market is meant to be efficient. Therefore stock prices are expected to reflect all past and public information. So when investors invest money on BG group or Royal Dutch Shell stocks, they would obviously take its past performance into account. As it has been found in the previous question, both companies have outperformed the average industry in term of ROE, ROA and book value per share (see table (2) in appendix) which should ideally encourage prospective investors to invest in those companies. This would make their stock more attractive to investors. One of the most commonly used techniques in finance is the Net Present Value (NPV). The NPV represents the expected change in the value of the firm in current time if a project is accepted. NPV adopts the time value of money principle in calculating all investments, which depicts that the cash flow on an investment is discounted based on the cost of capital, which decreases over the period in which the project is active (Watson and Head, 2006). Under the efficient market hypothesis EMH assumptions, the price of a random share in the market has to be allocated on the Security Market Line (SML) or Capital Market Line (CML), therefore the share prices is consistent with share asset market values (intrinsic values) so theoretically it is meaningless to conduct any earned value analysis â€Å"EVA† (NPV and investors ratios). Share price allocated on the SML/CML by definition will have net present value NPV equals to zero and cost of capital equals to the internal rate of return, in which any evaluation of this measurements would be useless because EVA must equals zero. Since NPV measures the present value of any future cash flows, in an EMH world, NPV attempting to calculate a measurement which has already been reflected on the share price. Arbitrage theory ensure that any abnormal profit should not exist or occur, if the earned value analysis EVA were to be observed, it should occur in random value or statistically non-s ignificant and the positive earned value analysis should be offset by negative earned value analysis (Chen, 2001). Furthermore, in an efficient market world it is unlikely to earn excess returns consistently. Thus within the logic of this theory EMH, earned value analysis which consists of calculating the investors’ ratios and NPV is a fiction and useless. In conclusion, the price of the both companies appears to be fully and fairly reflected in all the data and available information, such as investor’s ratio (ROE, ROA and the positive NPV value). Therefore, investors cannot beat the market price under the efficient market hypothesis assumption even though the investor ratios and NPV show the attractiveness of the stock because the price of share is already reflect all the past information (ratios and NPV) Bibliography BRYANT, L. 2003. Relative value relevance of the successful efforts and full cost accounting methods in the oil and gas industry. Review of accounting studies, 8, 5. BUCKLEY, A. 2004. Multinational Finance, Pearson Education. CHEN, S. A. J. L. D. 2001. Operating Income, Residual Income and EVA: Which Metric is More Value Relevant. Journal of Managerial 65-86. CAPITAL STRUCTURE: THE EFFECT OF FIRM AND INDUSTRY DEBT RATIOS ON MARKET VALU. Financial And Strategic Decision, 7. FRIDSON, M. S., AND ALVAREZ, F. 2002. Financial statement analysis: a practitioner’s guide, John Wiley and Sons. FAMA, E. F. 1970. Efficient capital markets: A review of theory and empirical work. The journal of finance, 25, 383. HATFIELD, G. B., , L. T. W. C. , A. W. N. D., III 1994. THE DETERMINATION OF OPTIMAL HAUSHALTER, G. D. 2000. Financing Policy, Basis Risk, and Corporate Hedging: Evidence from Oil and Gas Producers. The Journal of Finance, 55, 107-152. HEMINGWAY, R. W. 1971. Law of oil and gas. KENDALL, M. 1953. The Analysis of Economic Time Series. Journal of the Royal Statistical Society, Series A, pp. 11-25. JAHN, F., COOK, M. GRAHAM, M. 2008. Hydrocarbon exploration and production, Elsevier. MALLIN, C. A. 2006. International corporate governance: a case study approach, Edward Elgar Pub. MONEY, C. 2011. A Time Warner Company ALL RIGHTS RESERVED [Online]. Cable News Network. [Accessed 29/04/2011 2011]. ROBERTS, H. 1959. Stock Market `Patterns’ and Financial Analysis: Methodological Suggestions. Journal of Finance, 44, pp. 1-10. UNGERER, P., TAVITIAN, B. BOUTIN, A. 2005. Applications of molecular simulation in the oil and gas industry: Monte Carlo methods, Editions Technip. WATSON, D., AND HEAD, A. 2006. Corporate Finance: Principles Practice, Pearson Education. WELC, I. 2008. Common Flaws in Empirical Capital Structure Research. Brown University and NBER. Appendix Table (2): Represents the financial ratios of the 8 companies in the industry BP Plc (BP.L) Petroleo Brasileiro SA Petrobras (APBR.BA) Exxon Mobil Corporation (XOM) Royal Dutch Shell PLC BG Group PLC (BG.L) Total SA (TTA.L) ConocoPhillips (COP) Encana Corporation (ECA) average industry Profit Margin -1.25% 16.50% 8.89% 5.47% 19.52% 7.53% 6.46% 1.24% 8.05% Operating Margin -4.58% 22.21% 12.01% 7.48% 34.11% 14.19% 7.99% 6.11% 12.44% Return on Equity: -3.36% 15.05% 23.43% 14.22% 14.15% 18.83% 17.34% 0.50% 12.52% Return on Assets -3.35% 6.80% 9.60% 5.60% 7.89% 9.18% 5.69% 0.78% 5.27% Current Ratio 1.16 1.88 0.94 1.12 1.12 1.42 1.26 0.67 1.20 Total Debt/Equity 47.28 38.01 9.83 29.60 36.37 49.69 41.39 47.41 37.45 Revenue Per Share 95.02 27.51 70.13 120.03 25.39 62.86 118.81 9.49 66.16 Gross Profit Margin 16.46 53.80 43.63 13.53% 25.39% 29.26% 29.74% 88.84% 38% Book Value Per Share 30.33 29.95 29.49 48.10 38.87 27.00 47.92 22.97 34.33 Total Cash Per Share 6.42 5.50 1.58 4.37 3.74 6.88 7.91 1.10 4.69 Table (3): Represents the liquidity ratios of BG group and Royal Dutch Shell over last 5 years Ratios Company 2010 2009 2008 2007 2006 Quick ratio Royal Dutch Shell 1.8669 1.8967 1.8393 1.8778 1.9556 BG group 2.13 2.2091 2.0637 1.9159 2.0389 Current ratio Royal Dutch Shell 1.1227 1.1376 1.1046 1.2226 1.1972 BG group 1.1214 1.10125 1.0542 1.3041 1.4684 Net working capital Royal Dutch Shell 12342 11668 11041 21013 15137 BG group 1079 104 506 2351 2584 Net profit Royal Dutch Shell 20127 12518 26277 31331 25442 BG group 3532 3462 5907 3460 3198 Figure (5): The Net profit of the two companies Figure (6): Net working capital of the two companies Table (4): The financial ratios of the two companies in 2010 Financial ratios Formula BG Shell Profitability ratio Tax Burden Net Profit/Pre-tax Profit = 3500/5730 = 61.08% = 20474/35344 = 57.93% Interest Burden Pre-tax/EBIT = 5730/5562 = 103.02% = 35344/36340 = 97.26% Margin EBIT/Sales = 5562/17166 = 32.40% = 36340/368056 = 9.87% Turnover Sales/assets = 17166/50299 = 34.13% = 368056/322560 = 114.10% Leverage Assets/Equity = 50299/26684 = 188.50% = 322560/149780 = 215.36% ROE Net Profit/Equity = 3500/26684 = 13.12% = 20474/149780 = 13.67% Return on asset ROA Net Income / total asset = 3500/50299 = 6.96% =20474/322560 = 6.35% Net gearing Net debt / equity = 23615/26684 = 88.50% = 172780/149780 = 115.36% Basic earning power ratio EBIT / Total asset = 5562/50299 = 11.06% = 36340/322560 = 11.27% Liquidity ratio Current ratio Current assets / current liabilities = 9965/886 = 112.14% = 112894/100552 = 112.27% How to cite Financial analysis of BG and Shell, Essay examples

Effects of Unethical Behavior free essay sample

There are several situations that can unethical behaviors and practices. In 2002 the Sarbanes-Oxley Act was made law to stop unethical situations that where taken place in many companies, big or small when a company practice unethical practices, there can be lots of damage to the company. In many instances law has at best led to a culture of compliance rather than a culture of integrity. Even more disappointing is that too often the very activities Sarbanes Oxley was designed to prevent companies to slip past regulators until it is too late and the damage incurred (Hazels, B. (2010). The best example of an unethical accounting situation is when a company falsifies their earning reports to make the company appear to be more profitable. This is a clear case of accounting fraud and is a false report given to the stockholders, a real lie. The list goes on and on about companies that violate financial reports and end up in prison. We will write a custom essay sample on Effects of Unethical Behavior or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Many argue that the implementation and ongoing requirements of Sarbanes Oxley and other laws are costly, time consuming, and as yet ineffective. Recent evidence suggests that for some organizations these requirements and the associated punishments are not a sufficient deterrent. In many instances law has at best led to a culture of compliance rather than a culture of integrity. Even more disappointing is that too often the very activities Sarbanes Oxley was designed to prevent continue to slip past regulators until it is too late and the damage incurred (Hazels, B. (2010). After studying about the success rate of the SOX, it appears that the victories are far and few especially for the whistle blowers. The provisions of SOX are supposed to make it easier and less risky for employees to report bad corporate behavior by protecting employees from retaliation. But few, if any, complaints filed to date by whistleblowers that have faced alleged retaliation have resulted in wins. In part, this is due to the costly and arduous legal task of starting a complaint with the Department of Labor. Companies are also required by SOX section 806 to file within 90 days of the violation (Bannon, S; Ford, K; Meltzer, L, Jul 2010). Take a look at these statics and give your opinion if the rules SOX are working. Employees reported an increase in the ethical culture of their workplace, from 53% in 2007 to 62% in 2009. Measures of ethical culture include ethical leadership, accountability, and values. In the 2009 survey, 49% of employees observed misconduct, compared to 56% in 2007. In the aftermath of Enron and the dot-com bubble, there was also a significant decline in this measurement, from 55% in 2000 to 46% in 2003.

Berger and Luckmanns View of the Socially Constructed Reality

The idea that the reality is socially constructed is supported with many concepts discussed by Berger and Luckmann in their work The Social Construction of Reality. Berger and Luckmann’s view is based on the analysis of the notions of knowledge and recipe knowledge along with the reciprocal roles, on the concepts and constructs, language as the necessary aspect of the objectification, the processes and phenomena of institutionalisation, habitualisation, socialisation, internalisation, and externalisation.Advertising We will write a custom essay sample on Berger and Luckmann’s View of the Socially Constructed Reality specifically for you for only $16.05 $11/page Learn More According to Berger and Luckmann, reality is socially constructed because it is formed with references to the social knowledge and developed concepts which are distributed because of the people’s interactions. Thus, people operate the common concepts in which the de finite knowledge is reflected (Calhoun et al. 2002). People form their reality with references to the commonsense, customs, and habits. The common ideas, values, processes, and notions are habitualised and then institutionalised, making the base for the people’s reality which becomes socially constructed. Thus, Berger and Luckmann state that â€Å"all human activity is subject to habitualisation. Any action that is repeated frequently becomes cast into a pattern† (Berger Luckmann 1967, p. 53). As a result, the habitualised actions and processes are institutionalised within the society as the definite constructs. To understand the specifics of Berger and Luckmann’s view according to the socially constructed reality along with determining its strengths and weaknesses, it is necessary to evaluate the relevance of using such notions as objectification, internalisation, externalisation, habitualisation, institutionalisation, socialisation, and ‘recipe knowledg e’ as important ones to explain the idea of the reality which is presented by Berger and Luckmann as socially constructed. Many researchers and sociologists support Berger and Luckmann’s view that reality is socially constructed according to the idea’s general implications, but provide a lot of additional research in relation to the concepts used by Berger and Luckmann in their discussion and details (Remmling 1973). Thus, Strauss concentrates on the idea that Berger and Luckmann’s view in relation to the social construction of reality should be discussed as â€Å"a supra-individual endeavour† (Strauss 2009, p. 229). This opinion can be considered as relevant because of the large context within which Berger and Luckmann discuss the individual in relation to the society and objective reality. In spite of the fact Berger and Luckmann intend to support their position in relation to the social construction and socially constructed reality with a lot of theoretical argumentation, many researchers concentrate on the points which are not included in the discussion of the socially constructed reality.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Thus, Turner pays attention to the fact that Berger and Luckmann are inclined to avoid claims â€Å"to have identified the directional principle or the end point of change, or to have identified some circumstance or realm in which reality was not â€Å"socially constructed† (Turner 1991, p. 22). That is why, there are a lot of aspects regarding the social theory and social constructionism which can be discussed with references to Berger and Luckmann’s view. However, Turner’s approach to discussing Berger and Luckmann’s view of the socially constructed reality can be considered as rather objective because the researcher focuses on all the aspects of Berger and Luckmann†™s work and determine the strengths and weaknesses of the theory. As it was mentioned, the theory of social constructionism is based on the correlation of the notions of subjectivity, objectivity and objectification, internalisation, and externalisation. It is important to concentrate on the meaning of objectification for constructing the people’s reality. Objectification is necessary to share the knowledge and to construct the reality round the people. Objectification is usually the result of people’s discussing the objects with the help of definite signs and symbols. In this case, the role of language is significant. However, the process of objectification does not provide people with the vision of the objective reality because it is not the â€Å"part of the ‘nature of things’†, and the objective reality can exist and develop as the â€Å"product of human activity† (Berger Luckmann 1967, p. 52). It is also important to pay attention to the fact that the reality of definite social groups can be discussed as different because of the particular features of their perceiving the world objects and sharing the knowledge about them. The concepts and constructs about the reality depend on the language and symbols used to distribute the definite knowledge within the group. Thus, Berger and Luckmann accentuate that the common knowledge shared by the definite social group forms the social reality and refer to the role of the language in the process as the means for objectification. According to Berger and Luckmann, â€Å"an understanding of language is thus essential for any understanding of the reality of everyday life† (Berger Luckmann 1967, p. 37). Furthermore, this understanding is associated with developing the socially recognised concepts and constructs. From this point, it is necessary to refer to the idea of constructs. Embree agrees with Berger and Luckmann’s vision that constructs and concepts are ref lected in the words which are used by people to define this or that object according to their perception of the object and the further habitualisation of this vision of the object by the public.Advertising We will write a custom essay sample on Berger and Luckmann’s View of the Socially Constructed Reality specifically for you for only $16.05 $11/page Learn More Thus, constructs become recognisable for the public because they reproduce the people’s common vision of definite object (Embree 2009). This idea can be discussed as the supportive one to analyse the reality in relation to the social construction proposed by Berger and Luckmann. Berger and Luckmann’s main idea is presented in the statement that the everyday reality is socially constructed because it is based on the everyday social interactions with the help of which people can share their knowledge, visions of values, customs, and concepts. Wallace does not argue this notion in the work, but provides the discussion of the theory accentuating its major ideas and aspects. The reality is constructed when the process of institutionalisation of the practice and knowledge is based on habitualisation and objectification. Wallace states that â€Å"the creation of a new institution occurs in the moment of externalisation; once externalised, it is objectified, and once objectified, it acts back on the individual as an internalised entity† (Wallace 1988, p. 33). Thus, the reality is socially constructed not only because of the dependence on the shared common knowledge as a result of the social interactions but also because of the fact the knowledge is developed with references to some processes such as habitualisation and objectification. Then, the knowledge becomes institutionalised, and it forms the reality which can be discussed as socially constructed. In their work, Berger and Luckmann also pay much attention to the discussion of the process of the pe rson’s socialisation as the important factor to become the part of the society and, as a result, to operate within the objective reality. According to Berger and Luckmann, an individual becomes the member of society after becoming familiar with the definite language to share the knowledge, and the successful socialisation is the â€Å"establishment of a high degree of symmetry between objective and subjective reality† (Berger Luckmann 1967, p. 163). The socially constructed reality discussed by Berger and Luckmann is rather objective because it is based on the socially adopted concepts, customs, and ideas (Holstein Gubrium 2008). Operating the notions of the social construction and constructed reality, Berger and Luckmann refer to the idea that the â€Å"social world is a human product† which is later reflected in Tulloch’s discussion (Tulloch 1976, p. 198).Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Tulloch provides some points to support the opinion that the constructed reality actually depends on the correlation of externalisation, objectification, and internalisation as it was claimed by Berger and Luckmann (Tulloch 1976). That is why, it is possible to state that Berger and Luckmann have many arguments to support their vision of the reality and explain it with references to the theoretical background and everyday practice as it is presented in the researchers’ work. To assess the deepness of Berger and Luckmann’s discussion and theory, it is important to focus on the concept of the ‘recipe knowledge’. In their book, Berger and Luckmann develop the concept of the ‘recipe knowledge’ basically, paying more attention to this concept as associated with the process of rationalising the life of people and constructing their everyday reality. On the contrary, Shaffer states that it is necessary to develop the idea of the ‘recipe knowled ge’ with determining the basic types of it. It is possible to determine ‘simple recipes’ and ‘standardised recipes’ which differ according to situations in which they are used. From this point, ‘standardised recipes’ are more effective to make the human life more rationalised. Shaffer states that â€Å"recipes are the principal tool for accomplishing the rationalization of any area of human endeavour† (Shaffer 2010, p. 58). In his research, Shaffer goes far beyond Berger and Luckmann’s vision of the ‘recipe knowledge’ and state that recipe knowledge refers to â€Å"the attempt to transfer practical abilities or â€Å"knowhow† from a skilled or knowledgeable performer to a novice by offering step-by-step directions in terms that are familiar to the novice and by utilizing behaviors already within the repertoire of the novice† (Shaffer 2010, p. 56). Moreover, Berger and Luckmann focus on the fact th at reality is socially constructed using the notion of ‘recipe knowledge’ directly to support their idea. The researchers stress, â€Å"since everyday life is dominated by the pragmatic motive, recipe knowledge, that is, knowledge limited to pragmatic competence in routine performance, occupies a prominent place in the social stock of knowledge† (Berger Luckmann 1967, p. 42). The recipe knowledge contributes to the development of the people’s reciprocal roles and social constructs to form the everyday reality of the definite group of people. Berger and Luckmann claim that recipe knowledge â€Å"serves as a channelling, controlling force in itself, and indispensable ingredient of the institutionalisation of this area of conduct† (Berger Luckmann 1967, p. 66). As a result, recipe knowledge is the necessary part of the reality as formed with references to the social construction along with such processes as objectification and institutionalisation. R eference List Berger, P Luckmann, T 1967, The social construction of reality: a treatise in the sociology of knowledge, Doubleday, USA. Calhoun, C, Gerteis, J, Moody, J, Pfaff, S, Virk, I 2002, Contemporary sociological theory, Blackwell Publishing, Oxford. Embree, L 2009, â€Å"Phenomenology and social constructionism: constructs for political identity†, Journal of Phenomenological Psychology, vol. 40 no. 2, pp. 127-139. Holstein, J Gubrium, J 2008, Handbook of constructionist research, Guilford Press, USA. Remmling, G 1973, Towards the sociology of knowledge: origin and development of a sociological thought style, Taylor Francis, USA. Shaffer, L 2010, â€Å"Beyond Berger and Luckmann’s concept of ‘Recipe Knowledge’: simple versus standardized recipes†, Sociological Viewpoints, vol. 9 no. 1, pp. 55-63. Strauss, D 2009, â€Å"The (social) construction of the world – at the crossroads of Christianity and Humanism†, South African Jou rnal of Philosophy, vol. 28 no. 2, pp. 222-233. Tulloch, J 1976, â€Å"Sociology of knowledge and the sociology of literature†, Journal of Sociology, vol. 27 no. 2, pp. 197-210. Turner, S 1991, â€Å"Social constructionism and social theory†, Sociological Theory, vol. 9 no. 1, pp. 22-33. Wallace, L 1988, â€Å"Catholic women and the creation of a new social reality†, Gender and Society, vol. 2 no. 1, pp. 24-38. This essay on Berger and Luckmann’s View of the Socially Constructed Reality was written and submitted by user Kelvin Best to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Deviant Behavior †Psychology Essay

Deviant Behavior – Psychology Essay Free Online Research Papers In the United States attending school is expected. Public schools do not cost anything because everything is paid by the state. Children do not wear uniforms and the state takes care of the books and transportation. The only thing the family has to provide is school supplies, which generally do not cost much. In the United States, the parents contribute to the income, and children must be taken care of and prepare them for the future so they can do the same. This is different in the third world countries. Parents do not encourage or school is not required for children. Unfortunately the resources for education are not available in most third world countries. Children contribute to income and they start at a very young age. If education is available, the income they receive is for survival and school fees may be too much for a family to provide. In the United States in most states, parents are required to place their children in school or they may have their children removed from their custody. So for some parts of the world education is a privilege while others focus on just the labor of their everyday life to survive. Deviant behavior is usually not taken so harsh if the crime is committed by someone with powerful status. There are usually distinction between the powerful and the less powerful. Usually the penalties are more severe for a poor person, such as dealing drugs, or possession of narcotics compared to a person who is of powerful status. Many actors constantly get caught with possession of some sort of drugs and they never go to jail, if they do it is for 24 hours. The media saves this famous people committing these crimes. If an unknown person is caught with the same drugs, same situation, this person will do jail time. Also the treatment in jails is different for powerful or famous person compared to an unknown poor person. Money allows separation, in all factors. Research Papers on Deviant Behavior - Psychology EssayThe Effects of Illegal ImmigrationPersonal Experience with Teen PregnancyThe Relationship Between Delinquency and Drug UseStandardized TestingHip-Hop is ArtComparison: Letter from Birmingham and CritoEffects of Television Violence on ChildrenInfluences of Socio-Economic Status of Married MalesCapital PunishmentAssess the importance of Nationalism 1815-1850 Europe

Project Management Essay Example | Topics and Well Written Essays - 1000 words - 7

Project Management - Essay Example This fact clearly suggests that at the time of procurement, project managers did not clearly defined the exact needs of the project. Based on wrong assessment of the same, the system appeared to work on wrong footings as what was expected out of the system was not clearly delivered. It was therefore believed that the project failed because project managers failed to clearly anticipate the needs and solicit the correct vendors to implement the project. The vendors were probably either not as professionals as they should have been in developing the payroll processing system or the information to them was not correctly provided. This resulted into the cancellation of the project as well as it cost a lot of money to the organization because of the loose credit management as well as the wrong procurement polices because there was no clear strategy being developed by the project managers. (Washington Times, 2005) I believe that there were multiple issues involved in this project's failure. Initially it attracted the criticism of the employees working over there therefore at first stage, it failed to achieve the necessary acceptability within the organization. The issues were further complicated when the project managers failed to properly prepare the strategy for implementing effective contract as well as procurement management for the project. If project managers have given a good thought to the solicitation stage of procurement, it would have been lot better and the project would have been a success. 2) Department of Defense initiated a project in 2002 with the name of Personnel Management Key solution. The perceived objectives were to obtain efficiency in different functional areas such as organizational structures, personnel administration and leave, career management as well as work force planning etc. Many believed that it was a bigger project for a military organization however it started with lot of ambitions and hopes to accomplish something bigger for the organization which was termed as too administrative and bureaucratic in nature. The major reason for the failure of the project was cost overrun. Initially it was estimated that the total project cost would be $ 25 million in 2002 however as the project unfolded the cost rocketed to $70 million dollars forcing the project managers to abandon the project in the middle due to high cost variations and other factors which led to the cancellation of the project. However, a much deeper analysis of the issue would suggest that there were other factors which were directly responsible for the failure of the project. Initially it may be considered that the project managers have properly planned the procurement as well as contract management strategy however they were not. Though the whole details of the project are not available but the cost escalation suggests that the type of contract entered by the project managers may not have been adequately selected. It seems that the project managers may have selected actual cost reimbursement contracts where they became legally obliged to pay or reimburse all the costs to the vendors regardless of the need to assess that the cost overruns can also be caused because of the vendor's inability to provide the desired goods and services at the agreed contractual terms. If the project managers would have entered into a fixed pay contract, they could have

Proseminar On the frontier of Islam.. What role does culture play in Essay

Proseminar On the frontier of Islam.. What role does culture play in the travelers' encounter with a new religion - Essay Example ne that has been adopted in today’s world and the differences in the perception of what the Christian culture ‘thinks’ they have done in the past or they are doing today and the effect of the same on the culture and the relationship between people living as a community. We will also see how the world culture patronizes cultures of varied hues just for the sake of intellect and society. Travel through various countries and lands always invariably bring in the multifarious dimensions of the land traveled on. Cultures vary; practices vary; the way religions are practices also varies. The communication gap between the prophet and the today’s follower has increased to a great extent and on more than one occasion, the teachings of the prophet has been forgotten or not understood or worse still, not read at all. More or less this happens to be the case with the Christian and other Pagan religions as well. In the Medieval Eurasia and Africa, the clash of the religions was substantial high. This was reflected in the words of the Leo the African traveler on more than one occasion. Leo, as a Muslim started his run away from his birthplace, Grenada since he was chased out by the Christian capturers of Grenada. His journey went through Morocco and Egypt which happen to be Muslim and the difficulties he faces are minimal. Though, his adventures do invoke interest in the reader. Until, he falls into the hands of a set of Christian Pirates who take him as a prisoner for and on behalf of the Pope. He was a made a slave of the Pope. Travel in the Medieval world or on the threshold of the Modern world was very precarious particularly traveling into another country which had a different religion as its practice. In the early twentieth century, this clash had reached a crescendo. For instance, the Russians did not have any religion to support as a matter of fact, they were against the practice of any religion and hence there was an immense gap between the people who

Developing a Shared Vision Essay Example | Topics and Well Written Essays - 750 words - 1

Developing a Shared Vision - Essay Example g the healthcare industry, healthcare leaders are changing and adjusting to new measures to enable them lead the healthcare organizations they are leading. Healthcare leaders in the modern healthcare industry face a vast array of challenges, from layoffs because of reducing revenues, staff shortages, re - organization in response to merging of consolidation services, poor job satisfaction rates resulting in Turnover to poor performance outcomes leading to a reduction in Medicare Reimbursement Dollars. In the past, healthcare leaders have not faced so many issues as now. Due to these issues, healthcare leaders have resulted to certain skills, individual features and leadership features to enable them mitigate the challenges faced. As the manger of an ancillary service department at a large, 500 + bed hospital, several challenges have affected the ancillary service department. These challenges include staff shortage and layoffs due to declining revenues. This paper describes a proposal directed to staff to address the two issues. Staffs are a vital component of a healthcare’s system unit. Hence, it is important to keep them informed regarding issues that are affecting the hospital so that they are not caught off guard on mitigation measures put in place by the hospital’s management to solve the challenges. Informing staff makes them feel part of the hospital. It boosts their morale in spite of the challenges. The hospital faces two challenges that are staff shortage and layoffs due to reducing revenues. These challenges are not a call to panic or give up. However, they are a call to unity, cohesiveness and adaptation in order to overcome them as valuable contributors to the day-to-day running of the hospital and healthcare in the country. As you all know, both of these challenges are not unique to the hospital. They are nationwide issues. However, as a hospital, the management would like to take its own initiative to mitigate these issues. Staff shortage in

Human Resource practices in Grameen Phone Company

Human Resource practices in Grameen Phone Company 3.1 HR at Grameen Phone-HR management is about managing people in organizations as effectively as possible for the good of the employees, the company, and society. In GP managing human resources is becoming more and more important to the success of all divisions of the company. With the honest and coordinated effort, HR plays a key role in realizing the vision and strategic direction of the company. In the contribution of GP, the HR Team is a beautiful blend of bright, innovative, enthusiastic and professional members. The entire HR team has had excellent drive to translate concepts into reality. Thus, in within a short period they have accomplished so many successes in the arena of employee benefit and recognition at home and abroad. HR has very actively participated and sponsored HR conferences and meetings in Bangladesh. Thus they are contributing to the uplift of Human Resources in Bangladesh. They are looking forward to be corporate member of Bangladesh Society for Human Resourc e Management (BSHPM).This indicates that they would like to be a part of the professional institution building for HR in Bangladesh. Moreover, the HR division has launched the HR News which has started its journey from May2000 is also another Employee Development initiative. Thus, overall HR of GP is moving forward and playing even stronger role in every year by upholding the team spirit and harmonizing interdepartmental relationship. Human Resources (HR) Department, an important part of Administration Division plays very vital role in the total functioning of Grameen Phone Employee recruitment, selection, transfer, promotion, training, performance appraisal all these are conducted by HR division. The informal structure of HR according to its functions can be classified into three main categories they are: u ma Human Resource Management (HRM) Human Resource Development (HRD) Human Resource management Information system (HR- MIS) Human Resource practices in Grameen Phone Company 3.2 Human resource planning Effective human resource planning (HRP) can be one of the most rewarding aspects of work in human resource management. Effective planning can enhance the success of the organization while minimizing the amount of suffering resulting from poorly anticipated labor surpluses or shortages. In the line of business plan, HRP at GP starts. HRP is tagged with business Plan such as potential investment, subscribers, market shares etc. There is a strong correlation between subscriber and employees requirement. 3.3 Demand of Human Resource Forecasting of Human Resource Demand is done fully on Judgment. The method in this respect used is bottom-up forecasting. Each unit, branch or department estimates its own future need for employees. The sum of the estimated unit needs is the demand forecast for the whole organization 3.4 Mission, Vision, Objectives Strategies of Grameen Phone Company Vision Ideas that Simplify CompanyMission The vision will be achieved by Connecting Bangladesh with ease and care Being user-friendly Providing value for money Providing simple and timely connections Having a right and understandable process Objectives and Mission of the Grameen Phone The objectives of HR at GP are: To be strategic business partner with the line managers. To create an attractive work environment. HR missions at GP are: To attract, develop and retain qualified employees so that they can contribute to business goal. To create an environment which facilitates are effective performance and enhances employee morale and satisfaction. Grameen Phones basic strategy is the coverage of both urban and rural areas. The Company has devised its strategies so that it earns healthy returns for its shareholders and at the same time, contributes to genuine development of the country. In short, it pursues a dual strategy of good business and good development. Serving the mass market is one of GPs primary goals. By serving the general public as opposed to niche markets, the Company plans to achieve economies of scale and healthy profits. At the same time, service to the general public means connectivity to a wider population and general economic development of the country. In contrast to the island strategy followed by some companies, which involves connecting isolated islands of urban coverage through transmission links, Grameen Phone builds continuous coverage, cell after cell. While the intensity of coverage may vary from area to area depending on market conditions, the basic strategy of cell-to-cell coverage is applied throughout Grameen Phones network. In addition, GP has positioned itself to capitalize on the declining prices of handsets, making its goal to serve the general public realistic. Company Strategy Grameen Phone follows strategies at three levels. Those are described below: Functional Level Strategy Grameen Phones focus is on efficiency, quality, innovation, and customer responsiveness. This enables Grameen Phone to earn competitive advantage over the competitors. Business Level Strategy Grameen Phone mainly applies cost leadership strategy. In addition, they also apply differentiation strategy as their business level strategy. Corporate Level Strategy Grameen Phone follows related diversification as their corporate level strategy. It enables them to keep the cost lower. 3.5 Supply of Human Resource Manpower planning is an important function of HR management section. Two major activities in this function are: Planning and forecasting the organizations short-term and long-term human resource requirements. Analyzing the jobs in the organization and determining skills and abilities that are needed. Grameen Phone has both internal and external supply of labor force. 3.5.1 Internal Supply The HR department maintains a strong HRIS for internal supply. It keeps all types of employee data ranging from skill inventory to selection out. For senior level post, they hire internally in most of the case. For senior level position, they are some times from external source. They maintain replacement chart as a part of succession planning. 3.5.2 External Supply HR division has policy to manage labor supply externally such as: Online recruitment policy to attract people from outside as well. Use the temporaries with the help of their HRIS. Rehire the retired person: they have few examples of such case. No formal organizationally sponsored career planning is in existence now, but the HR unit is considering it with due importance and now working on it to implement in near future.HR department ensures integration between HRP and strategic planning of the organization.

The Awakening and The Yellow Wallpaper -- Chopin Awakening Essays

  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Kate Chopin's story The Awakening and Charlotte Perkins Gilman's story The Yellow Wallpaper draw their power from two truths: First, each work stands as a political cry against injustice and at the socio/political genesis of the modern feminist movement. Second, each text is a gatekeeper of a new literary history. Kate Chopin and Charlotte Perkins Gilman seem to initiate a new phase in textual history where literary conventions are revised to serve an ideology representative of the "new" feminine presence. Two conventions in particular seem of central importance: "marriage" and "propriety".   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Donald Keesey, editor of the critical collection Contexts for Criticism, describes "convention" for us as, devices of structure and plot, techniques of character representation, and a vast reservoir of images and symbols are conventions that most Western literatures, at least, have in commonBut like the conventions of language, they have meaning only to those who have learned them (Keesey, 262).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Literary convention is on one side the particular tool or image; for example, "baptism" can be used as a literary a convention. It is a "convention" because it brings with it a set of inferences, i.e. rebirth, renewal, awakening, initiation, etc. This relation of the signifier to the signified is what Chopin and Gilman seek to revise in the conventions of "propriety" and "marriage". The preceding definition of "convention" leaves us with an important question, namely, "What if what the existing conventions imply is insufficient? What if, as in the case of Chopin and Gilman, the canon (as a reflection of society at large) has failed to recognize the feminine voice?" As these authors have shown us, when such is the ... ...ier." New Essays on The Awakening. Ed. Wendy Martin. Cambridge: Cambridge UP, 1988. 89-106. Gilman, Charlotte Perkins, The Yellow Wallpaper, The Feminist Press, 1973. Gilmore, Michael T. "Revolt Against Nature: The Problematic Modernism of The Awakening." Martin 59-84. Giorcelli, Cristina. "Edna's Wisdom: A Transitional and Numinous Merging." Martin 109-39. Keesey, Donald, Contexts for Criticism. Mayfield Publishing Company, 1994. Martin, Wendy, ed. New Essays on the Awakening. Cambridge: Cambridge UP, 1988. Papke, Mary E. Verging on the Abyss: The Social Fiction of Kate Chopin and Edith Wharton. Westport, CT: Greenwood, 1990. Seyersted, Per. Kate Chopin: A Critical Biography. Baton Rouge: Louisiana State UP, 1969. Showalter, Elaine. "Tradition and the Female Talent: The Awakening as a Solitary Book." Martin 33-55.   

Lord Liverpool Government’s Reactionary Policies in the Years

In early 19th century Britain, law enforcement e. G. The police, was unheard of, this was a problem for Lord Liverpool government due to the fact that there was no physical means of controlling activity on a public level. When rebellions began to take place and started occurring more frequently Liverpool decided that something needed to be done. As a response, particularly to Spa fields, Liverpool Imposed the ‘Suspension of Habeas Corpus' in 1817.This suspension along with the Sedulous meetings act worked as a short-term deterrent to protesters and due to Its severity of enmeshment, meant that it was particularly effective at stopping any form of revolt. The physical protesting was bad enough for Lord Liverpool, however it was only small part of why he imposed reactionary measure; a large part of it was down to fear and paranoia. In 1789 Lord Liverpool had been in France and witnessed firsthand the storming of the Pastille.The fall of the Pastille signified the fall of order, p ower and structure of the hierarchy in France; this was exactly what Liverpool was most afraid of happening in England, and that people would turn against the overspent the country and each other. In 1819 60,000 people met at ‘Petrol' to listen to Henry Hunt talk about reforms, It was a peaceful protest that went wrong. Cavalry had been sent by magistrates who feared there would be a revolution due to the sheer amount of people, magistrates lost their nerve and sent In the cavalry causing major panic – 11 people were killed and over 400 Injured.As a response the Six Acts was introduced giving magistrates powers to invade people's privacy if they ever suspected any conspiracy or plot to create a mass gathering, it provided more representative actions to stop people in their tracks. Lord Liverpool paranoia meant that he was transfixed on keeping control on power, an idea that could be considered as the root of his reactionary policies. In response to the Coat Street consp iracy and the Derbyshire risings spies were used infiltrate radical groups.Spies enabled the government to stay one step ahead of the protesters. Staying In power was vital for Liverpool, he was very aristocratic and most of his reactionary policies benefited those of higher classes; as they provided the cost political support for Lord Liverpool. By using spies there was the allusion that the government were out to protect the monarchy and the aristocracy, further building support for Lord Liverpool.It also gave Liverpool means of keeping tabs on want was going on In ten puddle demeanor, tans links Dacca no law enforcement so spies were used instead. Tanat tanner was During the first half of this ministry the cabinet consisted of eighteenth century politicians who were unwilling or unable to see the need to alter a constitution which invited them, yet still wanted to have total control over the people of England; this was virtually impossible when the rate of expansion, industry and rebellion was so fast.It wasn't until the second half of this period, with the influence of younger men from different backgrounds and of differing outlooks, that major reform took place. Liverpool followed reactionary policies with the sole intention of them to be short- term fixes in society, made as a response to rebellions that were simply unheard of in Britain at this time. The main driving force behind these policies being made wasLiverpool paranoia of a revolution occurring fuelling his need to keep and maintain control over the people of Britain. Liverpool also had to contend with the fact that he had never planned to come across such anger and desire for change that he had to think quickly to put measures in place that would make a difference, whether they be harsh or not. They were simple a means of gaining control and power back over the people so some reformations could be made without the imminent threat of revolution, as was thought by Lord Liverpool.

Free Essays on Sitting Bull

Sitting Bull, said to be driven by the spirit, became chief of the Sioux tribe at an early age. His leadership included the time during in which America began its explorations of â€Å"The Great West†. In their expansion, they simply pushed the Native Americans back with promises of land and equal opportunities that were available to the whites. Throughout his reign, Chief Sitting Bull led his tribe through a number of confrontations with the American Army. The most famous of which being the Battle of the little Big Horn. However, the subject of the speech I reviewed does not deal with battling, but rather the unkept promises the American government made to the Sioux. Hearings were being conducted in Washington to hear the complaints of those who had lost land or other items of value during the war. So, the Chief had left with a delegation of his people and headed to Washington to see what was being done about the complaints the representatives from their tribe had lodged. Upon their arrival, he confronted Senator John Logan, a former civil war hero, because he had learned that the senator refused to acknowledge a single complaint made by the Sioux representative. In reaction to Logan’s arrogance, Sitting Bull became angered and accused Logan of â€Å"acting like a man drunk with whiskey.† Realizing that anger and finger pointing would get him nothing, Sitting Bull returned the next day in hopes of repairing the damage caused the previous day. Though first and foremost he was making an apology, he still wanted to express his resentment toward the United States government for the broken treaties and lies they had made with the S ioux tribe. His introduction was somewhat expected by those attending the hearings, so it did not make much of an impact but probably had the attention of all present because they wanted to see an â€Å"engine† apologize for his incivility. However if he had not apologized for his outburst the pr... Free Essays on Sitting Bull Free Essays on Sitting Bull Sitting Bull, said to be driven by the spirit, became chief of the Sioux tribe at an early age. His leadership included the time during in which America began its explorations of â€Å"The Great West†. In their expansion, they simply pushed the Native Americans back with promises of land and equal opportunities that were available to the whites. Throughout his reign, Chief Sitting Bull led his tribe through a number of confrontations with the American Army. The most famous of which being the Battle of the little Big Horn. However, the subject of the speech I reviewed does not deal with battling, but rather the unkept promises the American government made to the Sioux. Hearings were being conducted in Washington to hear the complaints of those who had lost land or other items of value during the war. So, the Chief had left with a delegation of his people and headed to Washington to see what was being done about the complaints the representatives from their tribe had lodged. Upon their arrival, he confronted Senator John Logan, a former civil war hero, because he had learned that the senator refused to acknowledge a single complaint made by the Sioux representative. In reaction to Logan’s arrogance, Sitting Bull became angered and accused Logan of â€Å"acting like a man drunk with whiskey.† Realizing that anger and finger pointing would get him nothing, Sitting Bull returned the next day in hopes of repairing the damage caused the previous day. Though first and foremost he was making an apology, he still wanted to express his resentment toward the United States government for the broken treaties and lies they had made with the S ioux tribe. His introduction was somewhat expected by those attending the hearings, so it did not make much of an impact but probably had the attention of all present because they wanted to see an â€Å"engine† apologize for his incivility. However if he had not apologized for his outburst the pr...

Free Essays on Macs

Apple’s brilliant flat panel displays offer certified color at unbelievable prices. All displays in the Apple family offer crisp pixels, the best viewing angle technology and a broad color gamut so you can judge your work accurately. And they won’t break the bank - or your back, for that matter. Indie budget, blockbuster view The latest addition to the lineup is the 20-inch Apple Cinema Display, weighing in at hefty 1680 by 1050 pixels, plenty of room to edit your latest feature. This gorgeous new display delivers the same wide aspect and great picture quality of the 23-inch model at an incredible price, just $1299. And don’t forget it’s actually super-light and super-thin, too. Top-of-line meets bottom line Or step up to the amazingly well priced 23-inch Apple Cinema HD Display, now only $1999. With 2.3 million digital pixels - more than enough (1920 by 1200 pixels) to support HD content in its native format, with space to spare - the 23-inch is perfect for video professionals using a Power Mac G4. Only pennies per pixel The 17-inch Apple Studio Display supports a resolution of 1280 by 1024 pixels - equivalent to the work space you get with a 21-inch cathode ray tube (CRT) monitor. Now every desktop can afford more desk space since the 17-inch Studio Display now costs $699. Wide viewing angle But the breakthrough prices don’t come at the cost of performance. When you sit down at an Apple display, you see the whole picture immediately, from virtually any angle, except perhaps from behind. That’s because Apple displays use the best viewing angle technology on the market today to ensure that your eye can see the digital signal from the computer without your adapting to the device’s limitations. Apple uses the best viewing angle technology to minimize color shift when you’re not looking straight at the display. And who does? First of all, if you invite another person, say a client, for instan... Free Essays on Macs Free Essays on Macs Apple’s brilliant flat panel displays offer certified color at unbelievable prices. All displays in the Apple family offer crisp pixels, the best viewing angle technology and a broad color gamut so you can judge your work accurately. And they won’t break the bank - or your back, for that matter. Indie budget, blockbuster view The latest addition to the lineup is the 20-inch Apple Cinema Display, weighing in at hefty 1680 by 1050 pixels, plenty of room to edit your latest feature. This gorgeous new display delivers the same wide aspect and great picture quality of the 23-inch model at an incredible price, just $1299. And don’t forget it’s actually super-light and super-thin, too. Top-of-line meets bottom line Or step up to the amazingly well priced 23-inch Apple Cinema HD Display, now only $1999. With 2.3 million digital pixels - more than enough (1920 by 1200 pixels) to support HD content in its native format, with space to spare - the 23-inch is perfect for video professionals using a Power Mac G4. Only pennies per pixel The 17-inch Apple Studio Display supports a resolution of 1280 by 1024 pixels - equivalent to the work space you get with a 21-inch cathode ray tube (CRT) monitor. Now every desktop can afford more desk space since the 17-inch Studio Display now costs $699. Wide viewing angle But the breakthrough prices don’t come at the cost of performance. When you sit down at an Apple display, you see the whole picture immediately, from virtually any angle, except perhaps from behind. That’s because Apple displays use the best viewing angle technology on the market today to ensure that your eye can see the digital signal from the computer without your adapting to the device’s limitations. Apple uses the best viewing angle technology to minimize color shift when you’re not looking straight at the display. And who does? First of all, if you invite another person, say a client, for instan...

2 Cases Essay Example | Topics and Well Written Essays - 500 words

2 Cases - Essay Example In the year 2006, Del Monte transformed from inquiring from sales what they were going to sell and focused on market drivers. They brought to a halt their process of sales data collection at the item level through arduous spreadsheets and focused on sensing demand, comprehending drivers of a market as well as using the data to shape how they enter a market. The new procedures focus on the insights of a shopper: who the customers are, where, what and why they are buying. It aims at how best to shape demand in these areas (the accurate combination of assortment, promotion, price, trade deals, as well as sales incentives) to compel demand that is profitable. Del Monte established that the correct data to gather from sales was market drivers’ clarity: the quantity of new accounts that takes new products, competitive activity in the market, past promotions success, as well as retail channel insights. First, the whole organization gains from the benefits of the deployed system since it insists on process change. In addition, installing the ERP by Big bang approach might help the organization to get a faster return on the investment. Furthermore, ERP makes it easier to integrate and report, and no temporary interfaces are needed. Moreover, lower cost of running the systems as legacy systems are retired simultaneously. One of the disadvantages is high capital as well as a human resource investment. Secondly, any practical performance issues have an effect on the whole user population. In addition, ERP needs training of the whole user population. Adopting the new system is susceptible because of the restricted possibilities to maneuver, in addition to there being a lot of pressure since the deadline must be met. It is recommended that organizations should attack the implementation project in focused, short phases, working backward from aimed deadlines to generate a sense of

Drawing Competition Award Ceremony Essay Example | Topics and Well Written Essays - 500 words

Drawing Competition Award Ceremony - Essay Example Research shows that THALASSAEMIA has transformed from a fatal childhood disease into a mere chronic one. This shows that health authorities are concerned about improving the condition of the patients. Why then due to economic downfall have we neglected the necessity of financing an issue which has shown the potential for improvement? Healthy citizens are an asset to the nation; they help make a country grow and reach its goals. A country that does not see the importance of the wellbeing of its people cannot hope to prosper. It is an obligation for all of us to voice out this issue so that recession does not become a threat to our health. Let us be a part of the struggle that the health sector is making in trying to eradicate these diseases from the face of this world. Let us join hands and be the voice of the patients who suffer from such a disease. So that they have hope to see in the near future their children and grandchildren devoid of the pain they went through. Health is a basi c right for all the citizens and for patients it is a necessity. And so we as a nation should make sure that this sector does not go unnoticed due to the economic downfall. Creating awareness about the seriousness of the issue a drawing competition was held. The topic was â€Å"Economic Recession: Observe- Join Forces- Safeguard Health: The right to quality health care for every patient†. High School Students and Senior High/ Technical School Students were allowed to register for the competition. This competition aimed to create awareness about the attention not being paid to the health department with respect to Thalassemia due to the economic recession. It is a reminder to the people and authorities that quality health care is the right of every patient and it must be considered seriously when allocating budget for health. A big applause to these young men and women who have gathered here and made this competition possible. You feel strong when you see the youth of your cou ntry so ready to improve the health condition of the world. The people gathered here to make you believe that change is possible and we will make it possible.

The relationship between teenager and their family Essay

The relationship between teenager and their family - Essay Example Data from the NSFG suggest that female adolescents born to intact families face a lower risk of early sexual debut while female adolescents, experiencing parental separation and multiple transitions in family structure have a higher risk of early sexual debut. Moreover, the Hong Kong case study establishes that adolescents with a dysfunction family and a poor family relationship are more likely to hazard to take drugs. Recently, the presence of strained relationships between teenagers and their parents as well as the disintegration within families demeans the influence of parental or family advice on teenagers. This forces teenagers to trust their peers, which coerces them to adopt immoral and unethical behaviors like drug and substance abuse and early sexual intercourse. It is clear that the increase in the strength of youths peer relationships demeans the interaction between teenagers and their families. Notably, cognitive and emotional maturity affects the quality of peer relationships that changes during adolescence. As teenagers seek to assert their individuality and independence, they derive frequent conflict between teens and their parents (Oswalt, 2014). However, as they approach maturity, they develop mature relationships with their parents and their colleagues since they have the capacity to make important decisions about their lives. Indeed, as adolescents approach maturity, they no longer depend on family social support since their colleagues develop the capacity to offer emotional support and comfort and sensible advice (Oswalt, 2014). A three years study by Dr. McGues group assesses the relationship dimensions conflict with parents and perceived warmth of the relationship with parents at age 11 and then again at age 14 (aboutkidshealth, 2010). The study established a decline in the perceived quality of relationships between

Mask Work in Drama Essay Example for Free

Mask Work in Drama Essay Our mask work in drama was an experience that I very much enjoyed very much. It also made me a better drama student because I increased my body movement far more as my face could not be seen. It has also shown me that with a mask on you can go for it with your body movement but you should go for it just as much with out a mask on. Fragments This part of the portfolio is where I say what Fragments of Mask work I learnt and enjoyed. Key word Fragments: Fragments of movement we mainly made up our selfs but always had to keep them ritualistic and precise. The movement we were taught in certain lessons were from a ritual and had to be Ritualistic and precise so every move was important. Examples of fragments I learnt in the lessons regarding Mask work: I remember the first lesson that we did mask work I was so unsure weather I would like it or not. What we did was sat in a circle Miss Grenene did movements that we had to copy in a ritualistic style. Then she made up copy the ritual routine with sounds so eventually we were all doing the same movements and sounds making us a chorus. Then she made us carry on the ritual adding sounds and movements on to it as we go. Miss was also playing the drum, which made it sound like an ancient ritual war drum. I felt unsure while doing this but however my emotions became more confident as the class ritual got better and better. The feelings I had were that I had to keep together with the group like a chorus should. Real life sounds and memories of sounds and movements were used in that ritual to carry on to making our own ritual. Like clapping whistling stomping all kinds of sounds and movements. All these ideas ran through my h ead and I was thinking this is good so why not add this, this and this to the piece. This was the starting point for our work as next we had to do a ritual in masks, which really does complete the ritual. I had to team up with Ross, Jack, Lisa and Joe to perform a Ritual of travelling from a neutral calm place to a hot place, to a cold place and then a funny place. I discovered on this first performance with a mask that because my face was covered up I had to express my character with my body and even more so as I didnt have speech. We all had to huddle together as well to look like a chorus. Sadly I felt nervous on that performance as everyone was moving at different times and I could not keep up so it went badly. For the movements I thought I should look freezing and act it and look hot and act it for the others I did the same basis for the ritual. I understand that a ritual is to be a serious occasion and you should act serious and focused while acting out a ritual like for example in a funeral or wedding. Which brings me onto my next piece which was when me Jack, Lauren, Keeli, and Michelle were acting out a wedding. The manor of this performance had to be serious and precise which it was. We did slow clear-cut movements that flowed and were symbolic to a wedding. This was a good piece when we performed it however the white cloth got caught in Keelis hair and we all ended up laughing. When we performing it I saw weddings on t-v and in real life and saw how formal they were, so I decided to draw my performance from that. I played the vicar and with the mask on I felt that Ginny was gone and the Vicar of the wedding was there. I felt calm and good about this performance as it was done well but we all laughed which emphasized even more the need t be serious in a ritual. Not one of my fragments up until now has made me happy with Mask Work. Not because I dont like because I always couldnt do my role correctly in movement or voice. Now I was put in a group for my moch exam and I was brilliant and confident from the word go I had no problem expressing my self and loved it. I feel that if I did it once I can do it again maybe it was the pressure of the exam that made me do well, however I am far more confident with mask work after that. Response: My emotional response to mask work is to approach it in a willing way. I felt like I had failed whenever I didnt give a good performance, which was most of the time, which hindered y confidence. I felt down like I did not know what I was doing wrong for a long time this made me frustrated with the work. This made me more determined though because I love drama so much I was not going to be perturbed by improvements that could and were in the end made. Also while we were trying new things I felt happy or sad or angry and this was related to the movements. I found that moving a lot made me happy and I could do that a lot if I was down. My Intellectual response to the work was to always be prepared and try everything and improve. I always wanted to intellectually give a good input to work and get a good out put from it. Ideas were always flowing into my head to put into a drama piece, but sadly I didnt know when to stop. The movements that we explored were always ritualistic and expressi ve according to the character or ritual we were playing in. In our moch exam I was so pleased with the response I gave to the work, which were magical ideas, and ritualistic movements, which got a good response, back this made me pleased. I always felt ready to try but had varied emotions through out mostly of focus and confusion to the drama piece. Development: Fragments were connected and developed as we learned more and put our increasing mask work techniques together into a ritual piece. Like our sounds like drumming or humming were connected to movements. For example a scream sound+ hands trying to pull your hair out could = an insane person in ritual. Another example could be a person with clawed hands above their head + a long grunt could = a person in a ritual who is angry. Mask + Movement = A soundless piece of drama where only the body can interpret the ritual using serious prà ¯Ã‚ ¿Ã‚ ½cis and ritualistic movement. Also you must always have your head forward and facing the audience. Then you should have your shoulders back and have clear ritualistic movements and if there is sound use it so its clear and relevant also loud or quite depending on the mood. Mask +Movement+ Sound= A Ritual with expressive movement and sounds were effective adding atmosphere depending on the ritual piece. Mask+ Movement+ Sound+ Music= For example a piece of mask work like Oedipus which was the play we did and turned into a ritual. Fro sound we used words from the play like death, marriage, hanging, the grouching of the eyes. Then we linked these to ritualistic movements like people dieing and the grouching of the eyes. We used the music when there was a lot of tension at a high peak of the ritual. The chorus did movements all together this looked very effective and I liked the way they all moved at different level but still looked like a chorus in a ritual. Evaluation: The moch exam we did was based on a play called Oedipus and which we had to extract 10 words and turn it into a ritual with movement and music. Our 10 words were: Death, Marriage, Hanging, Grouching, Suffering, Hurl me, Madness, stabbing daggers, pain, and loved ones. The chorus which was Niki, Chris, Kirsty, Joe and Michelle used slow movements and long drowning words which made the ritual sound like a world of despair. I was the narrator and I said about the Marriage, death and hanging and the gouging of the eyes in the beginning. This was very effective and then at the end I came on screaming madness. Then the madness the chorus came out and stabbed me to death then I said the madness is done like I was closing the ritual. I must say I loved the way every ones movements were so precise and ritualistic. This so effective and the sounds we used symbolized the movements we did which made it look really good. I liked it because it flowed well and the sounds were loud and expressive. If I had to change something about the ritual it would be the fact that we could have moved more in time and also that the music could have been used more to show tension. Also the clothes were good too Red symbolising blood and black is the madness of killing. The other groups were so good as well I learnt that from them practise makes perfect. They were so realistic in voice and movement. Especially Sheryl and Daniel in voice. The choruses in all the groups could have moved better though. From this the thing I have learned that everyone must work on is their movements. The audiences were so good they gave us a lot of claps and support to spur us on.