Friday, May 31, 2019
A Rose For Emily Essay -- essays research papers
A Rose for EmilyEmilys FatherThroughout this story, the haughty presence of Emily Griersons father is perhaps the greatest influence on her behavior. The story describes how Miss Emilys father rejected her suitors by standing in front of her and aggressively clutching a horsewhip whenever the young men came to call. Without her fathers influence and overprotective behavior it is likely that Emily would have made one of her suitors her husband when she was nonoperational of suitable marrying age for that time period. When Emilys father died the women of the town called on her to offer their condolences and aid as was their custom when someone suffered a tragic loss. Emily met the ladies at the door and with no trace of emotion or grief on her face she sent them away explaining that her father was indeed alive and well. Emily kept this up for three days and finally gave in just as the townspeople were going to forcibly take the body from her. All of her life up until his decease Emi lys father controlled her and made all of her decisions for her. When he died Emily was left alone finally able live her own life, but since her father had been controlling her for so long she wasnt able to function without him. Since she wasnt able to function without his presence Emily chose to live her life as if her father was still with her. She spent the mass of her time inside of her house because that was where she could b...
Thursday, May 30, 2019
Cloning Essay -- essays research papers fc
copy. Many great deal associate it with science-fiction novels, non with real life, but beast toller is a process that is being move to twenty-four hours whole over the world, and benevolent clone might be next. But should re-create be do illegal? According to the Washington Post, cloning should be made illegal because all greenhouse rhymes would turn verboten to be rewritten Mary didnt have a lamb, she had two lambs and a sister named Bridget who looked precisely like her. Mary and Bridget went to school one day with both lambs, but the school board threw them out as cloning was against the rules. Also, the role of the father is not important in cloning. He can acquire one child, but the next is done by Xerox machine. Cloned children, however, would also celebrate Fathers Day. All cloning should be made altogether illegal because such an insignificant amount of stick outs atomic number 18 successful, almost all clones have wellness problems, and the applied sci ence is far from perfected.Very few beast clones postulate it to birth, and the ones that do usually have serious health problems, including physical deformities (such as enlarged umbilical cords) to solemn conditions (like being born with no immune system) (Boyce 42). little than three percent of all cloning attempts heed . . . scientists have good reason to be discouraged several years of animal cloning work up has taught them that most cloned animals never level off make it to birth and the r atomic number 18 ones that do all too frequently have serious health problems (Boyce 42). Because of all of these facts, cloning should never even be considered on human beings. Scientists estimate that few than a quarter of cloned newborns would survive without intensive disquiet (Boyce 43). A very high probability of animal clones having all material bodys of problems including under the weather developed lungs and failing hearts, to grossly enlarged placentas and misshapen h eads exist in all cloning attempts. Any attempts to clone a human with todays technology would almost unceasingly produce a child with some sort of defect, whether major or minor. Many cloned animal newborns have poorly developed lungs. And cattle have been born with twisted heads (Boyce 42). Scientists say that they see some sort of catching problem almost every time they clone and they do not know what is wrong with the cloning process, or why the cl... ... not have abounding room to develop in the uterus. Cloned animals have nearly incessantly had some sort of obvious defect, and the ones that do not look normal almost always are not really normal. Also, there are 30,000 genes and the chances are extremely small that an egg cellular phone would reprogram all of these genes correctly (Kolata 1). As a result, the clones are not normal. Because of all of this, cloning should be made illegal.**********************************Works CitedBoyce, Nell. Multiplicity Perils. A Human is seeming To Be Cloned and Soon. Is It Worth the jeopardize? U.S. News & orb Report 19 Mar 2001 42-43.Griffith, Victoria. Scientists To Lend clog To Attack On Human Cloning. Financial time 28 Mar 2001 6.Kolata, Gina. Researchers Find Big Risk of Defect in Cloning Animals. New York multiplication 25 Mar 2001 1.Josefson, Deborah. Scientists Plan Human Cloning Clinic in the United States. British Medical ledger 10 Feb 2001 315.McPherson, Coco. Creation Myths. The Village Voice 13 Feb 2001 12.Why Not Human Clones? The Christian carbon 21 Feb 2001 5.Zitner, Aaron. House Sets the Stage for Debate on the Cloning of Humans. The Los Angeles Times 25 Mar 2001 A.20. Cloning Essay -- essays research papers fc Cloning. Many people associate it with science-fiction novels, not with real life, but animal cloning is a process that is being attempted today all over the world, and human cloning might be next. But should cloning be made illegal? According to the Washington Po st, cloning should be made illegal because all nursery rhymes would have to be rewritten Mary didnt have a lamb, she had two lambs and a sister named Bridget who looked exactly like her. Mary and Bridget went to school one day with both lambs, but the school board threw them out as cloning was against the rules. Also, the role of the father is not important in cloning. He can make one child, but the next is done by Xerox machine. Cloned children, however, would also celebrate Fathers Day. All cloning should be made completely illegal because such an insignificant amount of births are successful, nearly all clones have health problems, and the technology is far from perfected.Very few animal clones make it to birth, and the ones that do usually have serious health problems, including physical deformities (such as enlarged umbilical cords) to life-threatening conditions (like being born with no immune system) (Boyce 42). Less than three percent of all cloning attempts succeed . . . s cientists have good reason to be pessimistic several years of animal cloning work has taught them that most cloned animals never even make it to birth and the rare ones that do all too frequently have serious health problems (Boyce 42). Because of all of these facts, cloning should never even be considered on human beings. Scientists estimate that fewer than a quarter of cloned newborns would survive without intensive care (Boyce 43). A very high probability of animal clones having all sorts of problems including poorly developed lungs and failing hearts, to grossly enlarged placentas and misshapen heads exist in all cloning attempts. Any attempts to clone a human with todays technology would almost always produce a child with some sort of defect, whether major or minor. Many cloned animal newborns have poorly developed lungs. And cattle have been born with deformed heads (Boyce 42). Scientists say that they see some sort of genetic problem almost every time they clone and they do n ot know what is wrong with the cloning process, or why the cl... ... not have enough room to develop in the uterus. Cloned animals have nearly always had some sort of obvious defect, and the ones that do not look normal almost always are not really normal. Also, there are 30,000 genes and the chances are extremely small that an egg cell would reprogram all of these genes correctly (Kolata 1). As a result, the clones are not normal. Because of all of this, cloning should be made illegal.**********************************Works CitedBoyce, Nell. Multiplicity Perils. A Human is Likely To Be Cloned and Soon. Is It Worth the Risk? U.S. News & World Report 19 Mar 2001 42-43.Griffith, Victoria. Scientists To Lend Weight To Attack On Human Cloning. Financial Times 28 Mar 2001 6.Kolata, Gina. Researchers Find Big Risk of Defect in Cloning Animals. New York Times 25 Mar 2001 1.Josefson, Deborah. Scientists Plan Human Cloning Clinic in the United States. British Medical Journal 10 Feb 2001 315 .McPherson, Coco. Creation Myths. The Village Voice 13 Feb 2001 12.Why Not Human Clones? The Christian Century 21 Feb 2001 5.Zitner, Aaron. House Sets the Stage for Debate on the Cloning of Humans. The Los Angeles Times 25 Mar 2001 A.20. Cloning Essay -- essays research papers fc Cloning. Many people associate it with science-fiction novels, not with real life, but animal cloning is a process that is being attempted today all over the world, and human cloning might be next. But should cloning be made illegal? According to the Washington Post, cloning should be made illegal because all nursery rhymes would have to be rewritten Mary didnt have a lamb, she had two lambs and a sister named Bridget who looked exactly like her. Mary and Bridget went to school one day with both lambs, but the school board threw them out as cloning was against the rules. Also, the role of the father is not important in cloning. He can make one child, but the next is done by Xerox machine. C loned children, however, would also celebrate Fathers Day. All cloning should be made completely illegal because such an insignificant amount of births are successful, nearly all clones have health problems, and the technology is far from perfected.Very few animal clones make it to birth, and the ones that do usually have serious health problems, including physical deformities (such as enlarged umbilical cords) to life-threatening conditions (like being born with no immune system) (Boyce 42). Less than three percent of all cloning attempts succeed . . . scientists have good reason to be pessimistic several years of animal cloning work has taught them that most cloned animals never even make it to birth and the rare ones that do all too frequently have serious health problems (Boyce 42). Because of all of these facts, cloning should never even be considered on human beings. Scientists estimate that fewer than a quarter of cloned newborns would survive without intensive care (Boyce 4 3). A very high probability of animal clones having all sorts of problems including poorly developed lungs and failing hearts, to grossly enlarged placentas and misshapen heads exist in all cloning attempts. Any attempts to clone a human with todays technology would almost always produce a child with some sort of defect, whether major or minor. Many cloned animal newborns have poorly developed lungs. And cattle have been born with deformed heads (Boyce 42). Scientists say that they see some sort of genetic problem almost every time they clone and they do not know what is wrong with the cloning process, or why the cl... ... not have enough room to develop in the uterus. Cloned animals have nearly always had some sort of obvious defect, and the ones that do not look normal almost always are not really normal. Also, there are 30,000 genes and the chances are extremely small that an egg cell would reprogram all of these genes correctly (Kolata 1). As a result, the clones are not normal . Because of all of this, cloning should be made illegal.**********************************Works CitedBoyce, Nell. Multiplicity Perils. A Human is Likely To Be Cloned and Soon. Is It Worth the Risk? U.S. News & World Report 19 Mar 2001 42-43.Griffith, Victoria. Scientists To Lend Weight To Attack On Human Cloning. Financial Times 28 Mar 2001 6.Kolata, Gina. Researchers Find Big Risk of Defect in Cloning Animals. New York Times 25 Mar 2001 1.Josefson, Deborah. Scientists Plan Human Cloning Clinic in the United States. British Medical Journal 10 Feb 2001 315.McPherson, Coco. Creation Myths. The Village Voice 13 Feb 2001 12.Why Not Human Clones? The Christian Century 21 Feb 2001 5.Zitner, Aaron. House Sets the Stage for Debate on the Cloning of Humans. The Los Angeles Times 25 Mar 2001 A.20.
The Catastrophic Impact of Rising Oceans on the Pacific Islands Essay
The Catastrophic Impact of Rising Oceans on the Pacific IslandsAll over the world indigenous communities are faced with an array of new problems, though the public continues to gain insight into the lives of these people they continue to be marginalized in the global arena as well. The Pacific Islands are an entity far removed from the minds of roughly westerners. The primary focus of any political discourse within the United States places most emphasis on Australia and New Zealand ignoring the smaller less politically dramatic states. However, it is these smaller islands that will bare the brunt of one huge problem in the future, global warm up. For the purpose of this paper I will ignore the polemics of global warming and not hypothesize whether or not it actually has any permanent adverse effects on the ecosystems of the world or whether or not it is cyclical. Instead, I will focus on the evidence already documented within the Pacific Island states, evidence which lends strong support to the notion that the earth is getting lukewarm and the oceans are rising. For the people of the lowland Pacific Islands it doesnt matter if the current warming is a temporary trend that will reverse itself in a few centuries, they will have to deal with it on a much more short-term basis. The ocean has already begun to change and for the people of the Pacific Islands that is a major concern, it could be catastrophic if left unattended. The prospect of rising waters in the oceans has a transcendent effect on the Pacific Islands. Not plainly will the oceans rise and the seas become more torrent, their very cultures could be uprooted and their modes of existence forever changed. Recently a new study conducted by the subject area Oceanographic data C... ...rliest Washington cherry blossom peak...Almost no one disputes the fact that a substantial rise in sea level would be a elusive thing, inundating first a number of oceanic nations such as the Marshall Islands and Vanua tu in the Pacific, and the moving on to eat up places like Manhattan and the worlds other great coastal cities...The plight of Washingtons cherry blossoms pale by comparison. The National Park Service is making no promises, nevertheless barring a catastrophic petal-scattering storm, it appears there will be enough blossoms around on April 9th to avoid total embarrassment at this years parade. BibliographySmith, Donald National Geographic Newsnattionalgeographic.com Pacific Islands ReportGPI Atlantic www.gpiatlantic.orgVanishing Islands www.ourplanet.comWarming Hits Hard in Pacific www.ABCNEWS.comEnvironmental News Network www.ENN.com
Wednesday, May 29, 2019
Food as a Metaphor for Unexpressed Emotions in Like Water for Chocolate
Food as a Metaphor for Unexpressed Emotions in Like Water for Chocolate An oppressed soul finds means to deal through the preparation of nutrition in the novel, Like Water for Chocolate (1992). Written by Laura Esquivel, the story is set in revolutionary Mexico at the persuade of the century. Tita, the new-fangled heroine, is living on her familys ranch with her two older sisters, her overbearing mother, and Nacha, the family cook and Titas surrogate mother. At a very progeny age, Tita is instilled with a deep love for food for Tita, the joy of living was wrapped up in the delights of food (7). The sudden death of Titas father, left Titas mothers unable to hold back the infant Tita due to shock and grief. Therefore Nacha, who knows everything about cooking (6) offers to assume the responsibility of feeding and caring for the young Tita. From that day on, Titas domain was the kitchen (7). Throughout the novel, food is used as a constant metaphor for the intense feelings and em otions Tita is forced to conceal. The story begins with Tita passionately in love with Pedro Muzquiz and he with her. She would never forget the s their hands accidentally touched as they both slowly bent down to pick up the same tray (18). Their romance is cursed from the start, however, because of an old family tradition, stating that the youngest fille must remain unmarried and care for the mother as long as either may live. Pedro, unaware of the tradition, comes to the ranch to ask Titas mother, momma Elena, for Titas hand. Mama Elena tells Tita, If he intends to ask for your hand, tell him not to bother. Hell be wasting his while and mine, too. You know perfectly well that being the youngest daughter means you catch to take car... ... other, and make mad passionate love wherever they happened to end up (242). Unlike the first wedding, Tita too is infected with the powerful enchantment of the food. For the first time in their lives, Tita and Pedro made love freely (243). The novel ends with both Pedro and Tita, overcome with pleasure and emotion, dying in each other arms. Metaphors are powerful tools much used by authors to communicate a deeper meaning. Metaphors also tend to make the piece more thought provoking, and thus more interesting and intriguing. Laura Esquivel does a heaven-sent job of using food as a metaphor for unexpressed emotions in the novel Like Water for Chocolate. She takes the aching soul of a young girl and turns it into a cookbook of feelings and emotions cleverly disguised with food. Work Cited Esquivel, Laura. Like Water for Chocolate. Doubleday, 1992.
Tuesday, May 28, 2019
The Rainmaker Essay -- essays research papers
The RainmakerEnticing readers and basically giving people something good to read, John Grisham is an established star in literature. What makes his books so great is that they atomic number 18 so realistic. He applies his personal law and trial knowledge into the books he writes. Put together with creative story telling, his makes his novels hard to put down.The Rainmaker starts with the last semester of law school for Rudy Baylor. He was assigned to give free advice to a group of seniors. It is at that very time, and that very place, that Rudy encounters his first and most important clients, Dot and pal Black. A powerful insurance company with millions of dollars has apparently swindled them. They have caused the suffering and inevitable death of a young man, Dot and Buddys son. The coverage that was obliged was non issued, and Donny Ray, stricken by Leukemia, therefore lost his chance to live. This case plays out for a matter of months, while the broke Rudy Baylor rents a room from one of his clients, a Mrs. Birdy Birdsong. He is also forced to work for a felonious lawyer when the firm he was going to be initiated into merges with a larger one. Eventually, he goes to crack with one of Americas most experienced and accomplished defense attorneys. From the beginning of the novel to the last word, Rudy is plagued with a series of mishaps and problems. When somet...
The Rainmaker Essay -- essays research papers
The RainmakerEnticing readers and basically giving people something good to read, prat Grisham is an established star in literature. What makes his books so great is that they are so realistic. He applies his personal law and trial knowledge into the books he writes. Put unitedly with creative story telling, his makes his novels hard to put down.The Rainmaker starts with the last semester of law school for Rudy Baylor. He was assigned to give free advice to a group of seniors. It is at that very time, and that very place, that Rudy encounters his first and most important clients, Dot and Buddy Black. A powerful insurance company with millions of dollars has apparently swindled them. They have caused the suffering and inevitable terminal of a young man, Dot and Buddys son. The coverage that was obliged was not issued, and Donny Ray, stricken by Leukemia, therefore lost his chance to live. This case plays out for a reckon of months, while the broke Rudy Baylor rents a room from o ne of his clients, a Mrs. Birdy Birdsong. He is also forced to work for a felonious lawyer when the firm he was going to be initiated into merges with a larger one. Eventually, he goes to head with one of Americas most experienced and accomplished defense attorneys. From the beginning of the novel to the last word, Rudy is plagued with a series of mishaps and problems. When somet...
Monday, May 27, 2019
Dim Lighting Co. Essay
1. ProblemsCompany is not in a position to spend the capital prerequisite to fund the project. The potential resignation of Robert Spinks if the project is not funded. If the project were to be funded, the extended time for development and the 30% chance that it might not be a success.2. CausesOrganizational culture is not consistent throughout all the departments. Accounting and manufacturing departments focus on increasing profits while R&D and marketing departments are open to new innovation and growth. Management is reactive rather than proactive. The company has not produced a new product in the historical to capture the market. The history of Robert Spinks leaving companies due to the lack of creativity.3. System affectedThe structural system is affected by not being encouraging towards innovation. The psychosocial system is affected by other departments being intimidated by Robert Spinks. Jim West is under pressure to improve profits.The technical system is affected because the technology of the Micro-miniaturization of dismission sources could bring about majorinnovation.4. AlternativesIgnore the concerns of the accounting and manufacturing departments and go ahead with the micro-miniaturization of lighting sources project. Discard the micro-miniaturization of lighting sources project and invest on the improvements of the current equipment.5. Recommendationsdedicate capital on the new micro-miniaturization of light sources project. Although there is a considerable amount of time until the benefits can be reaped, such an innovation will be helpful to defeat the competition and capture the market. If Robert Spinks leaves the company and takes this technology to a competitor, Din Lighting Co. will be seriously affected.
Sunday, May 26, 2019
The Joy of Reading and Writing: Superman and Me
The Joy of Reading and Writing pane and Me Reading The Joy of pick outing and Writing Superman and Me, gave me a different perspective of tapeing and writing. Sherman Alexie, who grew up on the Spokane Reservation in Wellpinit, Washington, explains his life as an Indian boy, and how designateing and writing service of processed his life to succeed. Alexie purposes is to talk over how he first learn how to bring and write, his intelligence as a young Indian boy, and Alexie as an adult teaching yeasty writing to Indians children.Alexie learned not only how to read but to love reading. He used his love of reading to propel himself through the school system, removing himself from the stereotypical to be dumb, quiet, poor, and to cash in ones chips in life. Alexie begins his essay with a self confidence tone. Alexie, while growing in the Indian Reservation, at the age of three he learned how to read by using Superman comics. Alexie taught himself how to read the comic books by lo oking at the pictures and dialogue and pretending to say aloud what he thinks the story susceptibility be saying. I look at the narrative above the picture. I cannot read the words, but I assume it tells me that Superman is breaking down the door. Aloud, I pretend to read the words and say, Superman is breaking down the door (14). Alexie learned quickly how to read while many other Indian kids struggled to read basic words and vocabulary. He reads Grapes of Wrath in kindergarten when other children argon struggling through Dick and Jane (15). After Alexie established his self confidence tone, Alexie shows his inclination tone.Indian children were stereotypically supposed to fail in the classroom and most did. Indian boys who fail were accepted those who did not were not accepted. Alexie was smart and he refused to fail, he never got intimidated, he always participated with the non-Indian peers in class. I fought with my classmates on a daily basis. They wanted me to stay quiet whe n non-Indian teacher asked for answers, for volunteers, for help (15). Alexie loved to read, he read everything he possible could, even if they were not books.Alexie wanted to be educated and refused to fail. I refused to fail. I was smart. I was arrogant. I was lucky (15). Alexies tone at end of the essay, he was proud and surprised of himself because he became a writer. Becoming a writer, Alexie started to write books for children and he started to teach creative writing at Indian Schools. Alexie is proud because he has the opportunity to help other Indian kids to succeed in life. These days, I write novels, short stories, and poems. I visit schools and teach creative writing to Indian kids (15).Most of the children in the Reservation read his books and write their own poems, and that makes Alexie proud of himself. But there are some of the children that who have already given up hope on themselves and sit in the back of the classroom and do not care anything for reading and writi ng. Then there are the sullen and already defeated Indian kids who sit in the back rows and ignore me with theatrical precision (16). Alexie is try to break down their locked doors, and he is trying to save their lives by teaching them to read and write.Alexie refused to fail, instead he read different kind of books and he became strong reader and a smart Indian. Alexie read everything and everywhere he went. This is probably one of the reasons Alexie never fail in school and his succeed life, because he loved to learn. He also committed to help other Indian in the Reservation by helping them to learn how to read and write. Alexie purpose was to try to save their lives. I am smart. I am arrogant. I am lucky. I am trying to save our lives (16).
Saturday, May 25, 2019
Prewriting Exercise Essay
STEP 2) Describe two controversies surrounding this topicThe first controversy is with regard to the idea of a universal wellness c are system for the United States as a solution to its current health care situation of having an increasing rate of uninsurance among its working populace. While there is considerable current literature that argue that government should be able to provide adequate health care for all of its citizens, the questions of prioritization and appropriate allocation of funding comes into play. Specific research would have to be found to quantify as well as qualify the problem of uninsurance so as to evaluate just how much government action ought to be necessary. The second controversy is whether or not current government action in terms of federal funding for Medicare and Medicaid is sufficient to address the needs of Americans. This issue examines what both of the programs currently provide and how much each has actually helped the American public in facing health service issues. Again, factual research need to be complied in order to present a clear picture of how much these programs are helping so that a sound conclusion regarding whether they are helping enough can be reached.STEP 3) Describe which side of the argument you aroma is right and whyI believe that given the current health care needs of the American public, serious consideration of establishing a universal health are system should be deeply considered. I also believe that current measures are not enough. Of course, these are assertions that Ive initially made found on personal experiences in my interactions with individuals seeking health care support from the government. Therefore, I would need to gather more solid, factual information to support my claims. I will need to explore the concept of a universal health care system better in terms of its application to other countries so that I can have a deeper perspective on what needs to be done.STEP 4) Formulate a working thesis sentenceThe victimization of a universal health care system is a positive step towards the solution of the American uninsurance problem.
Friday, May 24, 2019
Role of Ngo in Devlopment
Several Nags have worked hand in hand with the brass to ensure hat millions of out of school children argon enrolled and continue their school education, thus making the right to education a reality. The leprosy eradication programmer was spearheaded by Nags and today only residual leprosy remains in our country. Nags have implemented the Jayvee Dharma programmer for creation of wells for safe drinking water promoted community toilets for perfect sanitation, and supported the public health programs on immunization and for eliminating tuberculosis and malaria.The much celebrated , Normal gram, and Swastika BEMA of the government have their roots in the work of many Nags. Nags eave significantly influenced the ontogeny of laws and policies on several important social and developmental issues such as the right to information, Juvenile justice, ending bodied punishment in schools, anti-trafficking, forests and environment, wildlife conservation, women, elderly people, people with dis ability, rehabilitation and resettlement of development induced displaced people to name a few.Further, Nags made their modest attempts to ensure the in effect(p) implementation of these laws and policies by conducting and disseminating findings from participatory research, budget analysis, public hearings, social audits, rockroses, seminars and conferences. Summing up, it is now well established that Nags have an important role to play in the development processes and that two the state and market need the collaboration of credible, active, and accountable Nags.Given their connect with the grassroots realities, Nags can and should play the game changer to pro-poor development through leading on participatory research, community empowerment and search for development alternatives. 36 Google +0 Telecommuting 0 19 Latest Articles GSM (Global System for Mobile Communications) wherefore our prayers are not answered? Positive Attitude Support Honesty Peaks E Ashram O Hay 1 20th cent ury transferred the number of issues to its successor with go through to social sector.Perhaps among those most discussion able and dispersing one is The Role of MONGO, s largely depending upon the contribution made by the socially developed countries, which on its vacate also exalted a number of issues lying below the generous contribution made, by the developed world. But as far as our concern, the intro contains in itself the evolutionary development of the concept both theoretically and practically emerging the various types of Nags I. E. Heritable organizations, national organizations, community organization boards and international Nags etc.The objectives of these Nags as relief welfare, community development, sustainable system and peoples participation are also considered in this work. The role of Nags which are common for almost all the Mongo, s with pretend to development in different fields as in education, health, women welfare etc are mostly sponsored by internatio nal Nags. Nags also contribute their due carry on in the development sector of Pakistan and the facts about their activities funds and utilization of funds is also considered in this presentation.The Nags are also working in rural areas of Pakistan and their programs in these areas are also under the consideration of our paper. So, all the presentation will provide the knowledge and basic facts about the role of Nags in development both at national and international level, their types, work ability and objectives and some fact about their weaknesses. Introduction The term MONGO seems to be deceptively simple. It may overlook the wondrous variety and differential capabilities of different Nags. N fact, Nags offer a kaleidoscopic collection of organizations varying in origin, size, programmer, ideology, role strategy, ending, linkages evaluation, problem etc. Nags embrace a bewildering group of organizations varying in terms of innumerable parameters. No standard commentary can incl ude all organizations working at present under the title of MONGO, originally voluntarism was a doctrine which held that the will is dominant factor or it is a principle relying on ones own free will for an action.The definition of Nags vary asAccording to Asian Development Bank the term non-governmental organization refers to organization based in government. Not created to earn profit. United Nations defines it Nags are private organizations that pursue activities to relieve suffering, promote the interest of poor, protect the environment, provide basic social services or undertake community development
Thursday, May 23, 2019
Organizational Culture Essay
Since there argon so many other competitors suddenly appear on the horizon, and Samsung have to create a lot of new creativeness to face all the compete, they have to create their new organization destination. The new theme of integrated culture is Creative, to building a creative corporate culture, Samsung have to set a few characteristics to put into practice. found on the research, Samsung adopting a chopine which is Flexible Time tp maximize employee creativity and another program is monitoring Over-time Work to help improve life quality o employees in year 2008. The material that issues regarding Building a Creative Corporate civilisation was identified as Samsung to a fault promoting a creative organizational culture using some organization behavior concepts which are* Encouraging Suggestions for Work sue Improvement Samsung Electronics implements various programs to support employees suggestions so that ideas can bear fruit. They offer incentives for the filing of pate nts, provide a knowledge management system to share expertness and knowledge amongst employees, and support community activities. They also offer incentives for idea suggestions to encourage their employees to proactively participate in knowledge sharing within Samsung Electronics. As a result, a total of 3,515 patents were filed in the U.S. in 2008. * Adopting a Flexible Time programSamsung Electronics adopted a Flexible Time test program in 2008 in selected business divisions to maximize the creativity of its employees. This test was the expression of their determination to shift from a time management-based corporate culture to a creativity-oriented corporate culture. Under the program, employees are empowered to flexibly manage their office hours as long as they ready a total of eight hours each day. If this test proves successful, Samsung will flip ones lid the program to a company-wide level. * Work-Life BalanceBecause social norms have changed, an increasing number of femal e workers are participating in economic activities and retaining high potential employees has make up the key to successful business operations. Happiness has become the overarching value of employees quality life, giving rise to greater social interest in balancing work and life. Therefore, Samsung Electronics also supports and encourages the employees to balance their work and life. In case anyone works overtime, their supervisor and the employee are notified to insure they comply with the legal overtime work requirements. For the creativity of the employees, Samsung Electronics also provides vacations for self-management and other vacation programs including family theme tour packages. * Welfare ProgramsSamsung Electronics shares and cares about its employees concerns over their health, childrens education and post-retirement life and helps them prepare for their future in order to elevate employee satisfaction and provide better working environments. In addition to the basic l egal welfare programs such as premium subsidies for National Pension, Industrial mishap Compensation Insurance and Employment Insurance, they also provide medical subsidies, a corporate pension program, work-out facilities and condominium rental services.Samsung Electronics believe that a creative corporate culture grows out of the technological search for innovation and its application. , researchers inherently looked for innovative ideas and technologies. A number of failures and prejudices from the trials and errors of the development process were the largest obstacles in putting innovative ideas into practice. This hindrance can be broken down to build stronger assurances through a number of verifications and databases. Nevertheless, these procedures can sometimes result in a waste of time. I think Samsung Electronics need to reduce the waste with more open-minded thoughts and perspectives.With an aim to realize a corking Work Place (GWP), Samsung Electronics has analyzed its corporate culture by utilizing the confidence index of The 100 Best Companies to Work For by Fortune Magazine since 1998. In 2007, Samsung concluded a global contract with the Great Place To Work (GPTW) of the U.S. for a confidence index vision of their domestic and overseas workforces, which contribute to building a corporate culture that fits their global stature. Based on the GWP analysis results, each division and department prepare and implement improvement plans to build a GWP by filling the gaps in the five survey categories which are of trust, respect, fairness, pride and solidarity. Also, 400 GWP officers supervise and implement corporate culture improvement activities at each workplace.
Wednesday, May 22, 2019
Geely Auto Financial Report Analysis
Geely simple machine Financial Report abbreviation 1. 0 Executive Summary This get across discusses the details of the Geely move Company and an depth psychology of its financial avowals in the past 5 yrs. The purpose of the report is an application of the knowledge learnt from the Financial Statement Analysis course, and tries to give recommendations. Rather than giving simple suggestions want deal, mete out or hold the stocks, it is hoped that by analyzing the financial statements, the data fag end provide support for the recommendations much(prenominal) as the future scratch and loss of Geely.As wholeness of the four largest independent private automobile manufacturers in mainland China, Geely Auto has been expanding rapidly. The sale of Geely has add-ond from cc units in 1998 to 329. carbon units in 2009. In addition, in 2010, the grease ones palms of Volvo prominently increases the reputation of Geely. Although the acquisition just happened few months ago, it is believed that it will beneficial to increase the jibeet p execrable. Further SWOT compendium show ups that, the well-established gross revenue meshworkwork and the wildness on R&D capabilities will have a irresponsible effect on the future increment of Geely.Moreover, the external environment such(prenominal) as the continuous growth in Chinese market and government policy support shows a promising future for Geely. However, at that place ar also threats populate outside the market and weaknesses inside Geely. It is re in ally troublesome to give any suggestions by simply analyzing the application and outside environment. Therefore, the report mainly focuses on the analysis of the financial statements. Analysis includes the gravid structure and solvency, liquidity, operating performance and profitability, and interchange take to the woods statements.By using common-size analysis, proportionality analysis and trend analysis, taking the rapid expansion in recent 5 y rs into consideproportionn. Though some forces turn out to be either not satisfactory or below industry average, the overall performance of Geely is quite good. Geely was using its money effectively and investing the money in the right place in the past 5 geezerhood. It is recommended to vitiate Geely Stocks, with the potential growth in their production and profitability. It is quite pessimistic that the earnings of Geely is going to increase and therefore the stock price in future. . 0 invention Geely Automobile Holdings is a Chinese automaker and is with BYD, Chery, and Great Wall, one of the four largest independent private automobile manufacturers in China. Geely is now headquartered in Hangzhou, Zhejiang, and operates six auto assembly and power-train manufacturing plants in China that are located in Lanzhou (Gansu province), Linhai (Zhejiang province), Luqiao (Zhejiang province), Ningbo (Zhejiang province), Shanghai and Xiangtan (Hunan province). These facilities enable a production capacity of approximately 300,000 cars per year. 2. Brief History Geely (Jili, pith auspicious, lucky) was founded in 1986 as a manufacturer of refrigerators, and then moved to manufacturing decoration materials in 1989, and by 1992, motorcycle parts. In 1994, Geely began manufacturing motorcycles. By 1996, Geely had produced over 200,000 motorcycles and scooters. Automobile production started in 1998. Geely began exporting its premier cars in 2003. Geely had its IPO on the Hong Kong Stock Exchange in 2004. Purchase of Volvo Geely was reported to have approached Ford in mid-2008 about a possible takeover of Volvo Cars.On October 28, 2009, Geely was named as the preferred buyer of Volvo Cars by Ford. On December 23, 2009, Ford confirmed that all substantive technical call for the sale to Geely had been settled. A definitive agreement was signed on March 28, 2010 worth $1. 8 billion, and the deal was completed on August 2, 2010. focussing * Executive directors Mr. L i Shu Fu, Mr. Gui Sheng Yue, Mr. Yang Jian, Mr. Ang, Siu Lun, Mr. Yin Da Qing, Mr. Liu Jin Liang, Mr. Zhao Jie, Dr. Zhao Fuquan * Non-Executive DirectorsMr. Xu Gang * Independent Non-executive Directors Mr.Song Lin, Mr. Lee Cheuk Yin, Mr. Yeung Sau Hung * Senior Management Mr. Zhang Peng, Mr. Cheung Chung Yan Products * Xiali TJ7300-based * 1998 HQ/Haoqing/Haoqing SRV * 2000 MR/Merrie * 2002 MR/Uliou/MS * 2004 PU/Rural Nanny/urban Nanny * 2002 BL/Beauty Leopard/BO * Daewoo-designed * 2005 CK/Freedom Cruiser * 2006 MK/LG/KingKong * 2006 FC/Vision * 2008 Geely China Dragon Major activities and achievements * Geelys JI-6360 model was certified by the government making Geely the first private company qualified to be producing automobiles in China. First Chinese automaker present at the Frankfurt Motor Show in phratry 2005. * First Chinese car maker to display at the US Detroit auto show. Winning the Special Contribution Grand Prize for Invention and man for its Blow-out Monitoring and Brake System (BMBS), a unique safety system independently developed by Geely. * In Peru, Uruguay and Venezuela, Geely has already started to sell its products. Geely has also entered the Bangladeshi, Cuba, new-sprung(prenominal) Zealand, Pakistani, Romanian, Turkish and South African car markets. Figure 1 cultivation in sales, source Geely annual report 1998-2009 3. Financial Analysis In the chase sections Geelys capital structure, solvency and liquidity, profitability and cash scarper will be discussed. 3. 1 Analysis of slap-up Structure Geely automobile Holdings Limited Analysis of Capital Structure HK$000 2005 2006 2007 2008 2009 L-Tdebt 87000 1318000 Deferred taxation 8018 37727 other L-T liabilities 682838 309274 0 1442153 Total L-T liabilities 682838 309274 95018 2797880 Current liabilities 54548 227198 5273470 76378 8907789 Total liabilities 54548 910036 5582744 171396 11705669 % 6% 46% 68% 3% 62% common shareholders comeliness 798080 1030157 2441440 41978 62 6375613 nonage vexs 9013 19769 211760 584619 720907 Total equity capital 798080 1049926 2653200 4782481 7096520 % 94% 54% 32% 97% 38% Total liabilities and equity 852628 1959962 8235944 4953877 18802189 100% 100% 100% 100% 100% These consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) -From common-size analysis, we know leverage rate of Geely is stable for year 2006 and 2007, declines sharply for year 2008, and then rebounds strongly to 62% in year 2009. Then look at the absolute value, its not difficult to find out a great rise in both liability and equity capital. In 2009, the total liability is more than a trilion. Referring to its investment and operation in recent years, we find Geely is trading on the equity, which indicates it is using equity capital as a borrowing base in a desire to reap excess returns.This can be confirmed by its step-by-step acquisition of many assembly line and investment on new factories financed by bond and bank borrowing, which is conversely based on increase equity (stock price stimulated by expansion). Those investments are revalued and taken into asset as a new backup. 3. 2 Solvency Analysis Geely Automobile Holdings Limited Solvency Ratios HK$000 2005 2006 2007 2008 2009 D/E ratio 0. 07 0. 88 2. 29 0. 04 1. 84 Interest insurance coverage ratio 7. 66 10. 11 16. 06 15. 46 S-T D/E 0. 22 2. 16 0. 02 1. 0 The computation for Year 2009 is shown here D/E ratio= Total liabilities / Shareholders equity = 2,797,880 / 6,375,613 Interest coverage ratio= EBIT / Interest Expense = 1,657686 / 107,226 S-T D/E= Long-term liabilities / Shareholders Equity = 8,907,789 / 6,375,613 The computation for EBIT is shown below HK$000 2005 2006 2007 2008 2009 Net Profit 115377 214149 318100 866053 1319028 Interest expense 32390 35103 60952 107226 Taxation 1585 1673 51869 231432 EBIT 115377 248124 354876 978874 1657686Since the ratio of debt to eq uity capital is relatively high, we need to take a further look of its financial condition. Before assessing long-term solvency we want to be satisfied about the near-term fiancial excerption of Geely. Unfortunately, Geelys short term debt to equity ratio is 1. 40, quite high in the most recent year. Although it can raise capital from HK listed market, equity is apparently not enough to make up its shortage of capital in short term. According to NOTE, Geely has discounted notes receivable to banks in exchange for cash with recourse in the unremarkable course of business.Therefore, the risk resulting from its speeding expansion not only depends on its own performance, but its customers financial distress. Interest coverage ratio is satisfactory, which means defrayal of the interest liability Geely has incurred on its long-term borrowing is in a less(prenominal) pressure. 3. 2 Analysis of fluidity Geely Automobile Holdings Limited Analysis of Liquidity HK$000 2005 2006 2007 2008 2 009 Industry norm Accounts Receivable Turnover 1. 91 0. 95 1. 99 1. 51 2. 29 19. 47 Acid-test ratio 1. 13 0. 68 10. 44 0. 71 1. 19 Inventory overturn 15. 9 11. 10 8. 36 136. 70 393. 17 31. 79 The computations are as follows Accounts Receivable Turnover = Net sales / Average accounts receivable Acid-test ratio = Cash and equivalents + Marketable securities + Accounts receivable / Current liabilities Inventory turnover = Cost of goods sold / Average Inventory The selected accouts used in computation are here HK$000 2005 2006 2007 2008 2009 Sales revenue 101411 127006 137209 4289037 14069225 COGS 90649 110036 121251 3637752 11528489 Inventory 5703 9910 14498 26611 29322 urrent asset 67212 280681 884331 5110552 12219411 current liability 54548 227198 79559 5273470 8907789 Trade and other receivables 44840 59065 65443 2840255 6144929 Dividend receivable 8220 74840 3560 Accounts receivable 53060 133905 69003 2840255 6144929 cash cash equivalents 8 449 20972 761684 889408 4498155 Marketable security The accounts receivable turnover is much worse than industry average. However, an increase of accounts receivable may due to rise in sales or difficulty in collecting quite timely.Referring to NOTE, we know that receivables are guaranteed by established banks in the PRC and have maturities of six months or less. So the likeliness of timely collection is in less question. The inventory turnover is exaggeratedly higher than industry level, especially after its installment of P-SCM supply chain wariness system, which integrates ordering, producing, selling, and distributing. So we can conclude that Geely is doing excellence in inventory management and is enjoying a growth in market demand of its products 3. Analysis of Operating Activities To be able to make a comprehensive analysis of Geelys activities, both the income statement and the balance sheet have been restated in appendix A and B, such that it is possible to identi fy operating and non-operating income, assets and liabilities. Assumptions regarding classifications are also available in the appendixes. Figure 2 illustration of revenue and operating income, Source Geely annual report 2007 -2009 Figure 2 illustrates how dramatic the development in especially revenue has been the last three years.Net sales are up by almost 200 share from 2008 to 2009, while only a 60 percentage increase in volume is reported in the annual report. Mainly the large growth is a result of full consolidation of the Groups manufacturing Operations. Moreover, the acquisition of Drivetrain Systems at June 30th 2009 generated extra revenue the last half year of 2009. Further the notes reveal that 95 percent of sales are within China in 2010, in 2009 it was only 81 percent. A decline in export can in a future growth horizon be a concern.Geely have improved profit margin over the last three years (18 percent In 2009), while the operating margin have been rather volatile ( Appendix 1). This is caused by large income/expences from share of results of associated companies. It is expected that this account will be less important in the future as some associates now are fully consolidated. A large increase in distribution and selling expenses in 2009 (increase more than 200 percent) is worth to note. It raises questions as can Geely manage all the new acquisitions without getting less effective and the level of earnings quality.No extraordinary or unusual are identified in the financial statement. It is a good sign since these accounts often are subject to earnings management. Comprehensive income is nicely increasing and no unusual increase in unrealized get hold ofs/losses of currency is identified. 3. 4 Analysis of Return on Common Equity This analysis show that the drivers female genital organ the increasing return to common equity is mainly due to heavy increase in asset turnover and an equal percentage increase in leverage. The adjusted profit mar gin has unfortunately been declining heavily over the period.Geely is therefore relying on Non-operating activities to reach the growth in ROCE. From a shareholder perspective is an increase in ROCE due to leverage not sustainable. However it must be noticed that it was only last year the increase in leverage was heavy, while the increase in asset turnover has been for longish. From a financial point of view it can be argued that taking up debt while it is cheap, since the interest rate is presently low, is in the long run better for the shareholders, if the alternative was to finance expansion with more expensive equity.What is critical is if Geely is strong enough to reverse their adjusted profit margin to keep growing healthy. 3. 5 Cash Flow Analysis It is useful to construct a summary of cash inflows and outflows by study categories because we can evaluate a firms sources and uses of cash from operating, investing and funding activities directly. Geely Automobile Holdings L imitedSummary of cash inflows and outflowsYear ended 31 Dec 200X HK$000 2005 2006 2007 2008 2009 TotalOperating activities (7636) (31858) (17747) 550977 948805 1442541 invest activities 5064 (660806) 247079 (274542) (1305946) (1989151) Financing activities 9452 704988 542943 (148711) 3966382 5075054 Increase( decrease) in cash 6880 12324 772275 127724 3609241 4528444 Year 2009 cash reinvestment ratio = (operating cashflow-Dividends) / (Gross plant assets+investment+other assets+working capital) = (948,805- 59,500)/103+(293,697+97,788)+4,185,892+3,311,622) = 11. 27%The summary of cash flow map shows that during fiscal year 20052007 Geely experienced negative operating cash flow. Besides that it has used cash to finance increase in inventory and receivables, the Share of results of associates black eye profits before tax from a positive position to a reverse one as it contributes more than 100% negatively before 2008 to Geelys profit after tax. This may be due to its stag e of growth since total capital expenditures by its operating associates amounts to approximately RMB1 billion, which are mainly funded by the in operation(p) cash flow generated by associates.The insufficient operating cashflow part is made up by financing activities through issuing debt and securities and borrowing from banks. From fiscal year 2008 Geely was able to begin generate positive operating cashflow . However, positive operating cashflow may due to the decrease in its working capital. The cash flow statement shows that payables decreased significantly after 2008, which raises doubt on a possibility that Geely delayed payments to suppliers until its operating cash flow before adjustment of working capital become healthier.The major cash outlay is investing activities, corresponding to its funding for the research and development of new vehicle models, new engines and gearboxes, the construction and expansion of plants. Concerning financing activities, one point should be mentioned here is that Geely borrows with its receivables as collateral, the inflow of cash is reported as a financing activity in the cash flow statement. The second doubt come up when comparing with income statement.Earnings are significantly transcendent operating cashflow, this may be an indication of aggressive accounting choices, such as recognizing revenues too soon or delaying the recognition of expenses. Take a look at the free cash flow statement. From free cash flow to equity (FCFE) we know the cash flow availabel for distribution to common shareholders is sufficient. Along with its satisfactory reinvestment ratio, Geely proves that it is taking finagle of investors. Geely automobile Holdings LimitedFree cash flow statementYear ended 31 Dec 200X HK$000 2006 2007 2008 2009Net income 214149 305767 866053 1319028 Depreciation 1403 2282 141053 364598 intereset expense 32390 35103 60952 107226 net capital expenditure 99304. 87 93000 113990 113443 working capital investment 53483 804772 -162918 3311622 FCFF 95154. 13 -554620 1116986 -1634213 Net borrowing 716000 330000 1061000 4300000 FCFE 584837 219253 1497987 5135362 net capital expenditure = approximate expenditure in RMB* rate of exchange prevailing at the balance sheet date 4. 0 SWOT analysis of Geely Automobile Strengths 1.Continuously Increasing Revenue Geelys gross profit margin has continued to grow over the past few years due to productive company expansion and increasing market shares. The total sales for various kinds of Geely vehicles has accumulated to over 800,000 since 2001, and the Geely trademark has been recognized as a well-known mark in China. It has established over 200 sales service bases overseas, and performed SKD/CKD assembly production and sales in Ukraine, Russia and Indonesia and other countries. 2. Emphasis on Research Development CapabilitiesBy the end of 2009, Geely owns a total of 1,600 technology patents. Geely has a professional research and development team, th e staff number of which exceeds 1,400, representing 12% of the total staff of the Group With its across-the-board investment in research and development, the groups RD team is capable of launching four to five new models every year, reflecting its atomic number 82 position in RD and technology innovation capabilities in Chinas automobile sector. 3. Acquisition of Volvo and Enhanced Green TechnologyNew energy-powered vehicle is the a la mode(p) trend and it will be the future of the instaurations auto industry. Ford and Volvo have already invested billions of dollars over the past decade in terms of new energy technology. Acquiring Volvo may enhance Geelys technology in new energy-powered vehicle area, help Geely take a step fore in competing with other homegrown brands, and pave the way for Geely to enter the global auto market. Weaknesses 1. Accounts Receivables Worse than Industry average Geelys average turnover ratio of accounts receivables from 2005 to 2009 is 1. 3, which i s substantially refuse than the industry average, 19. 47. Although the previous analysis has shown less possibilities of payment collection problem, a low accounts receivable turnover ratio still indicates that there is an opportunity cost of holding receivables for a longer period of time. 2. Image of Lower-end Brand Although Geely has a well-established sales network and growing competence in center field technology, it is hard for Geely to alter its lower-end brand image, since its original target market is low cost vehicle.But branding is about value and perceived quality, so price wholly can never facilitate a victory. Enhancing quality and ensuring that its cars are on par with the global leading brands are still a major scrap for Geely. 3. Less Advanced Technology Despite the vast amount of investment in research and development, capital and talents for automobile core technology are limited, and it is hard for Geely to compete with the advanced technology of foreign auto mobile manufacturers. 4. Unsatisfactory Sales in Export Markets Motor vehicles sales in most parts of the world market remains fragile.As a result, Geely exports business could continue to face major challenges given the fierce competition and the short history of operation in its major export markets. Opportunities 1. Continuous Growth of China Sedan Market Chinas passenger vehicle market ended last year with a 59 percent year-on-year sales increase to surpass the United States as the worlds largest auto market for the first year. According to estimate of Goldman Sachs world(a) ECS research report, growth in China car market will be remained for the next 10 years and the industry GDP growth will be 11. % in 2010 and 10% in 2011. Goldman Sachs Global ECS research teams forecasts that China will further boost its No. 1 position in the car market with sales reaching 30 million units per year by 2020. 2. Government Policy Support In the past few years, the focus of Chinese government policies for automobile industry is to boost sustainable growth in the economy with auto industry as one of its pillars and to support domestic participants and industry consolidation. Threats 1.Fierce Competition from both Domestic and abroad Brand The huge profit potential of China car market brings about fierce competition among both local and foreign automobile manufacturers. In the luxury automobile market, foreign manufacturers are in leader position due to their sophisticated technology and high brand recognition. While in lower end automobile market, local brands are strong competitors. 2. Possibility of Overcapacity in China Auto Market Some industrial experts concern that Chinas market may one day face vercapacity problems. A report from the official news portal of Chinas eastern Zhejiang province showed that, based on the production plan of Chinas 12 major auto manufacturers for the next five years, Chinas auto production would reach 32. 5 million units in 2015, far exce eding the forecast of 22 million units in the blue book of Chinas automobile industry. If Overcapacity problems occur, serious overproduction capacity will lead to negative market competitiveness a loss in enterprise efficiency, factory stoppages and other problems. . 0 Analyses of management discussion and analysts idea Appendix C summarizes some psychoanalysts view of Geely. However, not all Analysts agree upon whether you should sell, hold or buy the stock. Several reasons are discussed in the respective reports though all analysts agree that Geely is a healthy company with a stable revenue base, increasing volume and satisfactory margins. What analysts do not agree upon is whether Geely can maintain their growth potential and gain market share in both the domestic and export market.The penetration in the Chinese passenger car market is extremely low compared to USA and Europe (JP Morgan, 2010) and as the Chinese people are getting wealthier the market potential will increase th e upcoming years. Loads of Automobile manufacturer will compete to gain market share and earn extraordinary profit. Credit Suisse and CIMB are representing the negative analysts who believe that domestic market competition will increase as the warm competitors have invested heavily in the industry and developing of new brands (CIMB, 2010).Geely Management has not explanationed upon this in their report, but instead they emphasize they have sufficient notes to cover investments and R&D expenses to facilitate their own growth. Additionally, Credit Suisse (2010) emphasize that every auto manufacturer in the Chinese market are currently investing in production facilities. Credit Suisse is therefore worried it will result in an oversupply and consequently make inventories to rice. To bring inventories down a price war on vehicles can arise. This will affect margins negatively.JP Morgan represents a positive analyst that strongly believe that the current acquisition of Volvo will resul t in synergy effects and a technology platform that no one else can imitate in the near future. Further JP Morgan is confident that the low penetration of vehicles in the domestic market will ensure future growth, and therefore recommends buying the stock. DBS, Deutche Bank and Yuanta are recommending holding the stock, since they believe there are too many uncertainties connected to Geely and the future. Especially they all emphasize the lack of a clear growth catalyst to outperform the market.Further, the acquisition of Volvo seems to have longer prospects before profiting than expected at first hand (CIMP, 2010). As expected Geelys management discussion is very positive towards the future and leaves the shareholders with the impression of a highly growing company with a healthy economy and a clear defined strategy, although it is noticed that very little space is used to comment upon the current competition in the market. Instead Geely Management has chosen to focus at their new strategic platform and how they can develop brands and product lines into a competitive advantage (Geely, 2010).It can be interpreted as an indirectly method to cope with the market competition without discussing the situation in detail. Shareholders, however, must be aware of this matter when evaluating the business. Even though current revenue is increasing heavily one must consider how sustainable this growth rate is in the future. It can be concluded that Geely Management are slightly taking a too positive approach towards the current market conditions, since these are not discussed in depth and analysts report emphasize different issues than Geely.This analysis facilitate that there are no universal answer to trading with stocks. We all wants to buy the stocks that are undervalued and sell the ones that are overvalued, and the answer you get depends on the method, forecast and strategic mindset of the analyst. Geely is without doubt a healthy company so the buy, held, sell deci sion lies within how you value the growth opportunities, how Geely can facilitate R&D and implement acquisitions and thereby benefit from synergies. 6. 0 RecommendationGeely have the recent years had an expansion strategy, and as a consequence a high level of investment. This has resulted in a higher leverage and that earnings significantly are exceeding cash flows. However this is also a natural picture of a company in an expansion phase. It is found that Geely has satisfactory interest rate coverage even though leverage is increasing. Furthermore, accounts receivables is found worse than industry average, but good bank agreements make it easy for Geely to meet liquidity issues. Inventory turnover is also good, as the focus on SCM systems have proven its worth.This is moreover expressed in the increased asset turnover which partly is the driver behind the increasing ROCE. However it is important to note that the adjusted profit margin is declining. The overall performance shows inc reased revenue/earnings, but it is very difficult to delineate the earnings quality since most of the rise is due to consolidation and acquisitions. The positive free cash flow and satisfactory reinvestment ratio shows that Geely are taking care of investors. SWOT analysis identifies possible business catalyst as R&D and the new acquisition of Volvo that could create synergy effect.It is our opinion that these business drivers are rather uncertain but is very likely to succeed and combined with Geelys current healthy financial situation we are taking a positive approach towards Geely and recommends to buy the stock. 7. 0 Bibliography Geely Automile Holdings Annual report 2005-2009 Investment Reports DBS (8. June2010) Hong Kong/ China Company Focus Geely Automobiles Holding DBS Vickers Securities Analyst Miu, Rachel Credit Suisse (12. July 2010) Asian Daily Geely Auto Credit Suisse Analysis Analyst HungBin Toh CIMB (28. Sep. 010) Geely Automiles Holding LTD CIMB Reasearch Analyst C heam, The Shen JP Morgan (26. Sep. 2010 ) Geely Automiles Holding LTD Initiating Coverage, JP Morgan Asia Pacific Equity Research Analyst by Li, Frank Deutche Bank (26. Aug. 2010) Geely Automiles Holding LTD Deutche Securities Asia LTD Analyst Ha, Vincent Yuanta (26. Aug. 2010) Geely Automiles Holding LTD Yuata Research Analyst Wong, Johnny Websites Reuters (http//www. reuters. com/finance/stocks/analyst? symbol=0175. HK) Appendix A Restated income statement Appendix B Restated Balance SheetAppendix C Overview of Analysts opinion Source Reuters (http//www. reuters. com/finance/stocks/analyst? symbol=0175. HK) 2 . Industry average figure reference http// www. stats. gov. cn 3 . Property, plant and equipment are depreciated on a straight-line tooshie at the following rates per 4 . Goldman Sachs, China Automobiles, May 19, 2010 5 . Business Monitor International, BMI China Autos Report 2010, November 2009 6 . Global Times, Chinas Expanding Auto Production Triggers Overcapacity Concerns, July 19 2010
Tuesday, May 21, 2019
Comparre and Contrast Essay
Over the years the U.S had underwent tremendous changes socially, politically, and economically making the U.S what it is today.Many classes began to develop with industrialization. Rich factory owners were able to set themselves out from the stick of the group by growing in wealth, and there were many lower-class unskilled workers who took jobs where ever they could find them. By 1800, many political leaders were convinced that slavery was undesirable, and should eventually be abolished, and the slaves returned to their natural homes in Africa. Women had no rights at all men had the upper hand in everything , women couldnt even shake up an raising they had to stay home cleaning , cooking , and taking care of the kids but eventually a law was passed and women could participation in politics, get an education , and get a job just like men.With various inventions such as the typewriter, the mechanical reaper, the oil drill, and the light bulb, work was able to be through at a much faster and efficient rate, which made things cheaper, which then in turn helped the economy because people were able to buy more things. The federal official Reserve was established. Early American currency went through several stages of development in the colonial and post-Revolutionary history of the unite States. Because few coins were minted in the thirteen colonies that became the United States in 1776, foreign coins like the Spanish dollar were widely circulated.Many political machines were run through tenant owners where immigrants were able to sign up for a job in a factory if they vowed to vote for a candidate of the land lords choice. Ratification of the 14th amendment was established standardizing what an American citizen was. The thirteenth amendment was established abolishing slavery. The 15th amendment was passed after the Civil War that guaranteed blacks the right to vote. This amendment affected not only freed slaves in the South, but also blacks living in the North , who mostly had not been allowed to vote.As you can see the U.S had underwent a lot of socially, politically, andeconomically changes. If it wasnt for all these changes being made the U.S wouldnt be where it is today.
Monday, May 20, 2019
Onboarding: Employment and Business School Essay
Employee turnover washbasin be expensive and time-consuming, so organizations need to know how to get the most from and retain the valuable forward-looking additions they make. According to modern research, the secret lies in promoting self-expression and encouraging newcomers to bring their unique values and perspectives to the job. Most importantly, this should be done from the first day through a process known as onboarding. This Idea offers whatsoever practical advice on managing the process.Idea Summary Here is how most employees first day on a new job goes they are shown how things are done, introduced to the companys environment and culture, and subtly told what a big organization they have just joined. Sound familiar? This is the onboarding process followed by many HR professionals, with the commonly-held touch that this it is important to ensure the organizations values are understood and ingrained from day one.However, recent research suggests that these traditional m ethods have serious weaknesses, the biggest being the crushing of an individuals unique individuality as they are forced to accept the organizations identity instead. The long-term problems of identity domination have been explored by many psychologists and include loss of self-esteem, as authentic self-expression has been shown to be a come upon component of high self-esteem. As such, organizations should not want their employees to lose this component of their personalities, as it forces them to divert cognitive resources away from their work to coping with identity conflict instead.Fortunately, there is an alternative way to go roughly onboarding researchers from London Business School, Harvard Business School and Kenan-Flagler Business School suggest that managers should encourage employees to use their pinch strengths from the very beginning, on a daily basis. This can go a long way in improving employee retention and engagement, as newcomers develop a more positive view t owards the organization and fool greater quality and purpose into their work. * Provide employees with the skills and knowledge they need to succeed in their new jobs * summation productivity and employee retention by making personal connections and demonstrating your commitment * Introduce company policies, procedures, and culture* examine that employees quickly get up to speed on job skills and company cultureWhy is Onboarding eventful? Having devoted the time and resources to compete for talent, quick turnover is costly. In fact, statistics show that employees are most unsafe to leaving an organization for 18 months after they are hired. Making a good first word-painting is therefore crucial. Effective employee onboarding serves three interrelated purpose * First, it ensures that the employee feels welcome, comfortable, prepared, and supported. * These feelings increase the new hires cleverness to make an impact (be productive) within the organization, both immediately and over time. * Finally, employee success leads to satisfaction and retention, which allows the organization to advance to meet its mission. A well-designed onboarding program reduces costs, hastens time to productivity, and improves retention.
Sunday, May 19, 2019
Calvetta Essay
4. How, if at all, should Calvetas organization structure and practices be changed to reserve growth and effective communication, while maintaining the companys culture?This is a very sticky issue. Growth, on with other factors, seems to have diminishing effects on company culture, popularly referred to as Antonios elan. Two forms of growth present themselves to the company. They can either expand into the hospital segment (which falls in line with core competencies) or they could buy up GSD consequently growing their SLF customer base. Given the issues listed, I dont believe purchasing GSD would be profitable, as debt financing would have to be undertaken thus, passing game against Antonios way. However, Frank believes they moldiness grow in order to stay competitive within the assiduity so the former opportunity should be undertaken.The turnover, and promotion rate for Calveta is too rapid. Its one of the study issues dissatisfied customers had with the SLF. Frank should cons ider slowing this down, and perhaps placing new cater members in proper procreation programs administered by current staff to ensure smooth staff changes. Whilst flexibility and ease of advancement whitethorn make the employees happier, the customers will suffer from the constant interrupted changes. Calveta should maintain a degree of normalcy in the workplace, and make it harder to advance (could have positive affects on employees motivation).Another structural issue is the current staff organization. If Frank is worried about the loss of emphasis on his fathers ideals he must communicate this effectively with the staff. Discussion groups, incentive packages, and achievable goals should be established for all staff members, especially new ones, so that company culture is maintained and reinforced.If Calveta are to grow, they will need a larger amount of regional employees. This will most likely lead to the hiring of persons outside of the company. Calveta need not employ them right out of college though. They may obtain them from similar companies with similar values and ideals. As GSD is about to be taken over, perhaps the better staff members may wish to come to Calvetainstead of staying on with a new owner.To ensure continuation of company culture pointed questions in the interview and recruitment process pertaining to it should be asked. Similarly, constant feedback for current employees would reinforce challenge 4, of Antonios way.
Saturday, May 18, 2019
Christian worldview Essay
Theologians from polar ages attempted to answer this question by pointing to the primacy of the Bible and the rectitudes of the Church as the first off croak to saviorian living. Thomas Aquinas, for example, noted that a saviourian world purview is Christocentric from the very(prenominal) beginning. that is, the founding was a verbal expression of the Word of divinity. Hence, the Christian is obliged to recognize that the word introduction is a partial firearmifestation of Christ (partial, since the mystery of the Trinity is yet to be revealed to hu patchity). Hence, every human being is expected by the phone line to be stewards of His creation.This role of stewardship should be characterized by respect for creation, responsible leadership, and brotherhood. Thus, for Aquinas, the Christian worldview is tantamount to credit rating of the Christocentric origin of creation and its manifestations (the role of stewardship) in the actions of men. The Concept of Worldview A B ackground In universe of discourse Regained Biblical fundamental principle for a Re normalation Worldview , Albert Wolters answers the question by pointing that living consciously to the teachings of the Bible and understanding its meaning is grounded on what he calls framework. This framework is equal to the term worldview (in German, Weltanschauung). Worldview literally means a framework of beliefs which functions as a guide to intent. The author sees that the elements of a Christian worldview were first derived from the Bible and expounded by the Protestant Reformation. Hence, Wolters exposition of a Christian worldview had its roots from Protestant theology, although the basic elements of a Christian worldview are almost identical. In the book, Wolters created a framework for understanding the teaching of the scripture by expounding three impressions creation, number, and redemption.The author notes that the creation was organize out of graven images goodness. this goo dness flow from the divine result to the physical world. It atomic number 50 be said that the physical world to which man is located has that share of ecclesiastic Essence. Added to that, when divinity created man, he direct forth creation as mans goal. beau ideal bestowed on man the role of stewards of creation. Creation serves as the means of man to attain his full development. Thus, it batch be said that the creation was created for man, and man for creation. This mutual relationship between creation and man can be exhibited in the book of Genesis.The electron orbit of such relationship became, however, limited because of the fall of humanity. However, the incarnation of the Word to this world became the grounding point for the tax return of creation. Hence, Christs redemption of humanity served as the climax for that restoration. divinitys Grace as Restoration Here we can argue that Gods decorate is not a concept far removed from the physical world. It is neither s upra-creational nor anti-creational. Gods grace is restorative in value. God intended to restore the original goodness and meaning of creation to which sin has severely damaged.Wolters argues that because of the expansive celestial orbit of Gods redeeming work, Christians are invited to participate in his work in all split of the world. Thus, the author notes that redemption is tantamount to the fulfillment of Gods will in this world. The afterlife serves as the final test of mans love for God. The term redemption though is only a subset of Gods grace (since Gods grace is the totality of Gods winning actions towards the history of man). Redemption is viewed as the restoration of mans relationship with God, which had been severely impaired by the fall.This restoration though, cannot be attained if God is viewed by man as a distant entity. God therefore willed that He must be a participant in the redemption of man, because He exclusively is capable of giving grace to man. This wa s manifested in the incarnation of the Word. The incarnation serves as Gods sensitive to communicate his grace to man. Wolters notes that the baptism of Jesus Christ was the first act to which God make clear His intent of reaching the humanity. This reaching though must be viewed as an act of love.undeterred by the dualist eminence of the divine and the physical. Needless to say, it was also a means of God to show that His preeminence is unbounded by time, space, and matter. that although He is trenchant from the three propertys of the physical world, He is Lord. Concepts of Structure and Direction The relationship among the three concepts can be explained using two terms structure and direction. Structure refers to the order of creation , that is, it is the unchangeable and objective reality realized by God.This fundamental law of objective reality was basically derived from the Divine Essence, yet distinct from God Himself. This method of ascribing the temperament of creat ion to God is stressed in the work of Catholic and Protestant theologians. According to this method, we assume that Gods temperament is translated into another nature by virtue of creation. However, we can never equalize Gods nature with that of creation. The reality expressed in God is different from the reality manifested in creation. Thus, Gods preeminence in terms of nature is knowledge of the Divine origin of creation.Thus, the order of creation is derived from the will of God, and yet distinct from His nature. Direction, on the other hand, is about the villainy in the world and its corresponding cure. The evil was first manifested in the fall of humanity. the cure in the salvific actions of the incarnated Word. Thus, the author argues that structure and direction comprised the worldview. This worldview though differs from philosophy and theology by virtue of being pre-theoretical. This pre-theoretical conception of worldview is compounded on the will of God.Thus, the auth or notes that the order of creation (structure) is something derived from God which can be utilized for or against the kingdom of God (direction). The Idea of Creation The idea of creation is expounded in the book of Wolters. Wolters defines it as the correlation of the sovereign activity of the Creator and the created order. This created order is governed by Gods acts called laws. Here, Wolters arrives at a definition of law the totality of Gods ordaining acts toward the cosmos. Law is a translation of Gods will into actions comprehensible by the human mind. Translation is necessary in order for men to go after the will of God and participate in Gods work (stewardship of creation). Added to that, law is also recognition of the subordinate nature of creation to the will of God. This subordination though does not impede the capacity of creation to reach full development. The law serves as the focal point of development of all creatures since the history of creation is guided by t he salvific actions of the Most High. The Conception of Divine LawNonetheless, the law is foremost the recognition of the sovereignty of the Absolute and Perfect God and of the soulity of the creation. Anything beyond the grasp of Gods ordaining acts does not exist. Development separate from the hands of God will not mature. Thus, it can be said that the law serves as the driving force for the maintenance of the order of creation and its corresponding development. Here Wolters makes a property between the law ordained by God and the laws established by man. The law ordained by God serves first as a means for humanity to achieve full development.Humanity from the very beginning is special to God. Among the creatures of the earth, God chose man as his representation. When God said, Let us create man in our cause image, God bestows on man the post to shape the world. Thus, when God established the Law, He intends for obedience to become a point of development. that is, development in accordance to the will of God. As what had been argued earlier, development outside the scope of Gods authority does not exist. Second, Gods law functions as a test to humanity.For example, the laws of nature were established in order to test the cogency of mans genuine efforts to reach the Almighty. God wants humanity to discover and reach Him through its own efforts. By the laws of nature, man realizes that a Power exists beyond what he perceives. This Power is the manifested in the powers of nature the dexterity to create and destroy. Thus, God intended the law to be a salvific force for mans redemption. Human law, on the other hand, tends to be brutal and blind in scope. For the most, laws in society encourage the strong and promote dark.Rather than catering to the regards of the weak and the poor, these laws maintain the paramount interests of the ruling class. The moment the laws established by society become conflicting to the au becausetic purpose of the Higher La w. Rather than cover these secular laws as an extension of the Law of God, it is perceived by the oppressed as an instrument of injustice and evil. Wolters then argues that because of the inclination of the laws of society to dispense evil and injustice, it becomes an enemy of Gods ordained purpose. temporal and Religious Domains of the LawWolters argues that the world is divided into secular and ghostlike domains (based from the bank bill of human and divine law). The religious domain is that which concerns the private approach to scripture removed from the rudiments of public or secular personal matters such as politics, science, art, and scholarship. He argues that the religious domain focuses on the personal ascription of an individual to the nature of the Divine. that is, the world outside the grasp of the human mind. The secular domain is the one derived from God and made meaning(prenominal) by man.Meaningful here does not connote the im ameliorateion of God in establis hing an order, kinda God gave man the capability of creating an order to which he may achieve his full potential. Components of Worldview Here, Wolters correlates worldview with the cognitive dimension of humanity as the medium to which man may drop dead faithfully in accordance to the Divine Essence. He notes that if man would rearrange his mental structure to embody the teachings of the Bible, then mans life would reflect the will of the Divine.Needless to say, mans life would be renewed and somehow restored to its true purpose. Thus, Wolters argues that a one-way subordinate relationship exists between beliefs and practices. Practices are derived from beliefs. Beliefs are derived from Gods disclosure to man (which reached its climax in the redemptive act of Jesus Christ). In this dualism, the inner feeling of worldview is equivalent to beliefs. the outer to practices. These two aspects of dualism though are not mutually exclusive. globes beliefs influence his actions. His ac tions, in turn, reinforce those beliefs.Here, Wolters presents a discussion of consecration and sanctification. Sanctification refers to the renewal from the inside out. Consecration, on the other hand, refers to external and superficial renewal. The distinction between these two concepts can be grasped from a substantial understanding of the dualist conception of worldview. Before an individual is renewed superficially, there is a need to rearrange his beliefs. The rearrangement should be based from Biblical precepts declared to be essential to mans future relationship with God.This rearrangement is termed internal reorientation. When beliefs are properly renewed (consequently worldview is changed), this results to a total reorientation of mans lives and his activities. Because practices constitute mans life, reforming becomes a way to better that life, and to an extent, to give meaning to its true purpose. It should be noted that this new life is Christocentric in orientation. Faith becomes a manifestation of the Divine Will and transforms into actions contributing to its fulfillment.Here, we can assume that an internal reorientation of the inner aspect of worldview is a prerequisite in the total reformation of mans life. Form of Biblical Worldview The form of Biblical Worldview which Wolters presents in his book can be summarized as follows The form itself is ordained by God after the fall of man. The fall of humanity destroyed the bridge between God and man, and thus made necessary the proliferation of sin in the world. Because the primary purpose of creation is man, and of man is creation, there was a need to establish a structure and direction that would characterize mans worldview.Direction though is a manifestation that God gave man freewill. that is, the freedom to choose between good and evil. God though continues to guide humanity throughout history as a Force of salvation and grace. Gods establishment of the Divine Law serves as a means for man to attain his true purpose. This true purpose can only be found in the realm of the Divine. Hence, the law as what Jesus Christ said is made for man, not man for the law. And, worldview is made up of two components consecration and sanctification. Sanctification is a prerequisite for consecration.A reorientation of mans belief is necessary for a total transformation of his life. This transformation though must be Christocentric and derived from freewill. Only when these requirements are fulfilled that man reaches the mind of the Divine. The will of God then becomes manifested in the actions of man. Man then is restored to his true purpose (which was damaged by the fall). Personal Understanding of Christianity Changes Personally, the redemption of Christ serves only as the restoration of Gods infinite love to humanity. This is not the gaucherie in Wolters book.Gods infinite love had been from the very beginning directed to the nature of man. God intended man to be his close associ ate, greater than the angels, and receiver of His Divine grace. No point in history that Gods love for humanity diminished. Gods love for humanity is perfect and without bound. Even if the physical world ends, Gods love will flow. This is the ultimate fact of Christianity. Nonetheless, the view (personal) that the restoration of man to his true nature is limited by time and space is also contradictory to the thesis of Wolters.He argues that the restoration or the redemption of humanity through Christ is continuous. that is, the Divine grace moves history towards the full attainment of that restoration. Hence, the righteous is called to participate in this redemptive act so that the sinners would be enlightened of the true purpose of Gods reign. Personally, there are only two events in human history which can be described as salient to Christian faith fall and redemption. This is though not the case in Wolters thesis.From the very beginning (creation), God intended man to live with H imself to attain his potentialities. This was damaged by sin the element that disrupted (and continues to disrupt) mans true nature. Man became far from God. Although God tried to reach man, man became (and continues to become) ignorant of himself. Man was blinded by the authority given by God over His creation. He became selfish and ignorant of Gods will. Thus, God willed that man be restored to himself. that is, God wants man to be reconciled to his true nature a nature that recognizes its Divine origin.BibliographyAquinas, Thomas. Whether temporal goods fall under merit? in Summa Theologica (Calvin College, Christian Classics Ethereal Library, 2005). Retrieved on 28 October 2007 from http//www. ccel. org/ccel/aquinas/summa. FS_Q114_A10. html. Luther, Martin. The Necessity of Knowing God and His Power in De Servo Arbitrio (On the Enslaved Will. (Calvin College, Christian Classics Ethereal Library, 2007). Retrieved on 28 October 2007 from http//www. ccel. org/ccel/luther/bondage. viii. html.
Friday, May 17, 2019
The Circles of English
The Circles of position English has become one of the most important languages somewhat the world through speaking, different accents and words. The proponent of this language has been determined by the important of United States as economic leader and the expansion of British colonial power explained Cristal (59). According to White, the language has different categories and barriers that make English different in the world. This author based his research on the classification of English through three different passels created by Braj Kachru.Through this essay, it will explain the different part of the Circles of English. The circles mean the barrier between English native and non-native English countries. According to Braj Kachru, the inner circle indicates where English is the primary language United States, UK, Ireland, Canada, Australia and New Zeland, and there ar 328-380 million of people who speak the language the outer or extended circle involves countries English is n ot native, but it has an importance as a second language such as, India, Singapore and Jamaica.At the end, the expanding or extending circle is non-native English, without being colonized by British Empire, but it considers as a foreign language for example, Japan, Brazil, Italy and Russia. Therefore, the barriers in these three circles be the amount of people who speak the English language and the importance of English around the world In conclusion, it can be said that these three circles explain the main differences about the mobilize of English. According to Cristal the differences of historical and social issues raised by the notion of world English are presented in these circles (107).This means how English can affect the history of different countries. Worked Cited Cristal, David. The Cambridge Encyclopedia of the English Language. second ed. Cambridge Cambridge University Press, 2003. Cristal, David. English as a Global Language. 2nd. Cambridge Cambridge University Press , 1997. Print. White, Ron. Going round in circles English as an internationalist Language, and cross-cultural capability. Cross-Cultural Capability Conference 97. Leeds Metropolitan University. 15-16 December 1997.
Supply and Demand Easyjet
Assignment 2. 5 Supply, Demand and Easyjet The Marketing Mix is the name tending(p) to the elements which ar the key components which a marketing plan should be based upon. Typically in Marketing lit there ar four elements price, place, promotion and product, however this is now some durations expanded to incorporate other(a) 3 elements people, physical evidence and process. Pricing polity is clearly very important to the marketing mess up and is affected by vari qualifieds such as firms objectives, the nature of competition, demand and firm costs.Firms insure price in diverse ways according to their marketing strategy and the industry in which they record an example of determine methods will be shown and evaluated further in the essay in reference to EasyJet and British Airways flight determine. As mentioned in the introduction, the role of pricing within the marketing mix is a change one depending on what the firm is trying to hand and the conditions within which i t is operating. This contradicts what economic theory tells us that pricing should be based upon setting prices at the point where Marginal Revenue = Marginal Cost in order to maximise firm profits.However, in real life few firms explicitly follow the economic model in developing pricing policy (Doyle 1997), because firms may be trying to achieve other things than maximising profits such as gaining market share, in which case they could be using the loss-leader simulated military operation (where prices are set at a point which actually makes a loss for the firm which they are able to recoup through guest retention erst prices increase or through the sale of full price complementary products).Doyle suggests that there are several cat valium type of pricing policies such as market-penetration pricing, market-skimming pricing, cost-orientated pricing, perceived- nurse pricing and price divergence. Market penetration pricing refers to the concept discussed above such as loss-lea ding where short-term profits are sacrificed in order to increase/gain a market share(Baker, 1997). Market-skimming is the give of setting high prices with subsequent high profits and expect to only sell a subtle volume of products this slew only work if there is no risk of nonher company macrocosm able to completely take-over your potential sales with a cheaper price. Cost-orientated pricing is where prices are set as a fundamental mark-up on top of product costs, which can be known in business as undetermined pricing or target pricing when it refers to a certain level of return on investment. perceive value pricing is based on the perception that buyers have of your firms product relation to other products in the market. Finally, the concept of price inequality is one of transgressicular importance to this essay given its information content of airline pricing.Perfect price disagreement is an economic concept where a firm hitchks to missionary post every buyer exact ly the price that they are prepared to pay. In reality, this is very difficult to achieve as how can a firm possibly be expected to know the exact value which each individual buyer places on their product? The only way that perfect price discrimination can be achieved is through an auction format, but this is debatable. General Price discrimination is a common strategy, however, and this involves firms charging different groups of customers different prices for the same product.In order for it to work, Doyle states that customers in the highest-price segment must not be allowed to buy from the lower-price segment e. g. there must be boundaries in place to ensure that a high-price customer cannot sneakily procure at the low price. Within the airline industry this is achieved by differentiating among time of bookings long-term maturate bookings are the lower price customers and bookings made close to the time of waiver are high price customers. The prices for Easyjet flights fro m London Luton to Madrid are as follows below Tomorrow = 124. 98 One week = 183. 98 One month= 82. 98 3 months = 70. 98 The key discrepancy between these prices is that the more in advance you book, typically the cheaper it is. This indicates that Easyjet flight pricing is based upon demand (and add up but supply is fixed) for the flights, as the further in advance you book, the cheaper it is and on the flipside if you discover you have to go to Madrid tomorrow the price is more higher as your need/demand is more imperative and thus you will pay a higher price. However the obvious exception here is that it is more or less ? 60 cheaper to fly out tomorrow than it is to fly out in a weeks time.I would suggest that this appears to be an anomaly, as the obvious pattern of decreasing prices with advance bookings coupled with the knowledge that Easyjet formulates its prices based on supply and demand for each particular mean solar day and thus rewarding advance bookings (lower de mand for far away dates) with cheaper prices suggests that this is an unusual occurrence. One reason for the flights in a week being higher than a flight tomorrow to Madrid may be because the flight in a week is the weekend before Valentines Day so may be booked up more than we would typically expect from a normal day a week in advance.This apex and higher price for a potentially popular weekend represents that Easyjet is employing an almost draw close perfect pricing scheme in an economic sense e. g. each consumer is being charged a slightly different price relative to the level of demand for the flights (there is a fixed supply due to the fixed spell of seats available). pic The graph above represents graphically the information from the Easyjet website which is displayed in bullet points above.As is clear to see asunder from the peak at 1 week there is a downwards trend over time which I would expect to be even more obvious if we were to add in more data for weeks between 1 week and 1 month and between the periods of 1 month and 3 months. The hang in price does appear to be flattening between month and 3 months which I would advocate is because once were getting to booking a few months in advance the prices are getting near to Easy jets lowest price point so there isnt much room to decrease- thus I would anticipate the bottom price for the journey being around the ? 0 mark (as at 3 months in advance it is ? 70. 98). Turning now to the British Airways data, below are the prices for a BA flight from London Heathrow to Madrid at the same time of day and date as the Easyjet prices above Tomorrow = 316 One week = 217 One month= 130 3 months =126 Again, we can see both in the data and in the graph below that the same price discrimination strategy is being pursued by British Airways as by Easyjet the advance flights represent the cheap-price customer segment and the close flights (next day to next few weeks) represent the high-price segment.In both comp anies the price discrimination policy works as they are able to enforce the different price/customer brackets because of time of purchase of travel tickets being the discriminating factor. Therefore similarities between the two airlines are in the nature of their pricing strategies price differentiation and therefore the decreasing trend in air fares if booked in advance. The differences between the two companies from the data collected appear to be two different things firstly that British Airways has a higher base price than Easyjet (circa ? 20 to circa ? 70) and that British Airways has not taken into account high-demand special do such as Valentines Day weekend in its pricing in comparison to EasyJet, as shown by the lack of spike in price at the one week point on the British Airways graph. The higher base price of almost ? 50 more commanded by British Airways (BA) is in all probability due to both higher costs than EasyJet (who follow a low-cost strategy and thus yield les s service than BA on its flights e. g. ess cabin crew, no complimentary food/beverages, no scanty baggage check-in) and also the Brand-name of British Airways commanding a higher price. To conclude, pricing is a vital part of the marketing mix and overall strategy of all firms. Within the airline industry, the tendency is for price discrimination as due to the nature of travel and the booking of flights it is possible to discriminate between different bands of customers booking the same service based on their needs (economy, business class, first class) and their time of booking (advance, the day before etc. . From evaluation of comparable data taken from both EasyJet and British Airways it is clear to see that both are operating a policy of price-discrimination based on advance booking of fares. Bibliography Baker, J (1997) The Marketing Book, The bathe Press, Bath, UK. BritishAirways. com on-line http//www. britishairways. com/travel/home/public/en_gb Doyle, P (1997) Managing th e Marketing Mix, reproduced in The Marketing Book, The Bath Press, Bath, UK Easyjet corporate website on-line http//www. easyjet. com/EN
Subscribe to:
Posts (Atom)