Wednesday, October 30, 2019
Is the hotel postmodernist Essay Example | Topics and Well Written Essays - 1500 words
Is the hotel postmodernist - Essay Example The reason I like Atlantis, the Palm hotel Dubai is due to its ideal location and huge infrastructure. It’s not only the building, the architecture and the interior of the building that enchants my soul but the location and the theme of the hotel mesmerize me. The entire hotel is based on a resort theme; a world surrounded by water and marine life as well as it provides a world of recreational activities for the people staying on board which makes it different from other hotels all around the world. It is a post modern hotel as mentioned earlier that it is a 5 star resort which is surrounded by Aquaventure themed water park on 40 acres. The hotel also has a conference center for high end executive class meetings and conferences. What makes this hotel interesting is the presence of Dolphin Bay which gives a lifetime opportunity to the guests to swim and play with dolphins while enjoying their stay at hotel. Each corner of the hotel represents the unique taste of Arabia with the sea-facing sights and an insight to marine life from the corner of every wall within the hotel. Interior Design: The interior of the hotel is designed by the efforts of internationally known designers and interiors. It was a joint effort by Jeffert Beers of JBI (Jeffery Beers International) along with the skilled team of designers from David Rockwell from the Rockwell Group and Adam D. Tihany. Others including Wilson and Associates, WATG, EDSA and Wimberly have given the best of their efforts in creating an excellent masterpiece. The hotel also features the works by the world class interior artists Dale Chihuly and Albino Gonzalez. The lobby of the Royal Towers at arrival greets the tourists and the guests with its magnificent artwork and murals. The 19 meter high ceiling of the lobby welcomes the guests with splendid hand artwork painted by Albino Gonzalez; a Spanish artist. The murals on the ceilings depicts four seasons of the year along with the fine representation of solar cal endar’s development. The ceilings finely tell the story of Arabian legends and their splendor to the visitors. The entire interior of the hotel makes it uniquely different from other hotels around the world. Location Atlantis, the Palm is located at The Palm, Dubai which is an artificial sand island. The island itself is shaped like a palm tree which makes the location interesting for the visitors and the tourists. The hotel has a total of 1539 rooms. It was a huge project which cost 1.8$ billion during its construction. The relationship between the construction sector and the Dubai’s hotel industry has been extremely positive. Ideally, the Northern corridors of Dubai including its favorite tourism destinations have become the focus of modern designs. The implementation of a number of tourism concepts across the Arab Peninsula has become an answer to the country’s bristling hotel industry. The Dubai historical factor as well as the stylistic-semiotic study which covers the development of the country’s hotel architecture indicates that the focus is based on the hotel-casino complexes and the self-styled postmodernist buildings. Their impact is significant because the modernist attitude include the changing trends that mirage the International Styles and rarely defined traditional Dubai Architectures. Introduction The relatively short Dubai coastline provides a symbolic history that explains the country’s is strategically located and it has been found to be
Monday, October 28, 2019
Reflective Paper Essay Example for Free
Reflective Paper Essay Introduction            Organization in the business and industrial setting is like a very interesting organism worthy of effort and time for study. The behavior of people and the environments with which they are in constant interaction is a ceaseless source for curiosity and fascinating research. This is so especially during this particular century when technology sparks the many changes that take place. This generation is in the epoch of organizational reform and innovation. The time is marked with rapid changes in the demography of workforce, changing corporate culture, and changing institutions. In the light of the rapid shift in today’s organizations, the skills required of managers, beginners in the profession and even aspiring students in the discipline, rest on the foundation of knowledge on the whole gamut of organizational development. Corporate America is not without its complications. When the company â€Å"succeeds,†there is with it (the success) a corresponding notion of responsibilities and liabilities. Organizations thrive today because of the policies and guidelines they have managed to fixed firmly in their set-up and translated into their day to day affairs. Big businesses have the competitive edge over others – i.e., over small entrepreneurs, because they have arrived at their positions in the market place by securing certain parameters in the many facets that comprise their organizations. This is especially true on government laws and regulations (McKenna, 2000).            It is imperative that organizations in industry and business compete with the changing times. To fail to do so may spell substantial loss in both the financial and human capitals; two major components necessary in an organization. Being competitive in today’s business jargon is not as simple as it sounds; it involves a comprehensive and in-depth understanding of the whole gamut of organizational behavior and the complex changes that are dynamic in nature (Mangelsdorff, 2007).            This paper attempts to express in prà ©cis the various facets of the nature of organization with specific intentions to elaborate on the student researcher’s understanding, insights and learnings regarding how quality management and control systems relate with human motivation. It takes into consideration the importance of how all these concepts are of significance in one’s individual relationships as well as their relevance of the person’s (especially the student researcher’s) professional plans and actual work situations.            Organizational change though oftentimes unpredictable and incomprehensible to many, still goes through a cycle; the nature of which makes it possible for concerned people to study with the hopes and intentions of ultimately, implementing revisions or remodeling. These serve to enhance and improve systems and discover excellent procedures of handling things or procedures and people (Mangelsdorff, 2007). Problem Statements            To be specific, the following questions are addressed in this paper: Define what is meant by â€Å"strategic planning.†Distinguish this from long-range planning and other forms of planning. Planning can lead to organizational change. What do the text writers feel are the issues that face the managerwho plans to bring about organizational change? How should a planner go about the process of identifying strengths, weaknesses, and distinctive competencies in an organization? What is the impact of the findings on planning? Discuss the relationship between mission statements, planned change, and unplanned change. Use Discussion Define what is meant by â€Å"strategic planning.†Distinguish this from long-range planning and other forms of planning.            Bruffee, author of Collaborative Learning: Higher Education, Interdependence, and the Authority of Knowledge (1993), explains the need for a more efficient, economical and equitable management of the people in the industry or organization has never been as pronounced as it is today. This need has never been brought about by factors which inevitably affect not only the established structures and ways of doing things within the personnel area but also by the more meaningful and substantial task of managing the organization’s most important asset – the human capital. Among these factors are: stiffer competition in business; rapid changes in technological, competitive and economic environments; the explosion of technical and managerial knowledge; spiraling wage and benefits cost and so many others. These factors have no doubt been responsible for the emergence of the personnel function as a vital area in the implementation of corporate strategy.            Demick and Miller (1993) places in context first what an organization is like and settles how it can affect behavior in general and when that is established, proceeded to explain leadership and management in this context. In organizational behavior which is basic to the management of human resource, it points to the inquiry and application of learning about how people, individuals, and groups perform, operate, and work in organizations. It accomplishes this by means of adopting a system approach. Explicitly, it infers people-organization affairs in terms of the entire person, group totality, complete organization, and total social structure. Its intention is to put up enhance relations by attaining human goals, organizational purposes, and social goals. In such a milieu, the goals to effect change are influenced by several significant factors which are crucial to the overall results. Hence, there are expected leadership behaviors that maintain momentum during the change process.            Effective strategic planning is a process of analyzing an organization’s assets and its needs under changing conditions and developing the activities necessary to satisfy these needs. It is essentially a two-step process. The emphasis is on techniques or systems to be applied. The forecasting of needs allows determining of priorities and allocating of resources to where they can do the most good. Analysis of needs leads to program planning. The planning approach defines human resource needs in relation to the organization’s overall needs and defines a strategy to satisfy them. In this way, individual development, training programs, recruitment, compensation and other activities become integral part of a dynamic process. There are different types of planning aside from strategic type of plan. These include the alignment type, the goal-based type, the self-organizing type, and the scenario-based type (McNamara, 2006). The goal-based type of planning is involved with tailoring the process of improving and enhancing the system of operation of an organization with the focus on the organizations’ goals which may be further specialized according to each of that organization’s departments. The alignment type bases its planning strictly on the organization’s mission and tailors all activities according to that specific aspect of organizational flow. In particular, the scenario type of planning, however, makes use of the critical areas of the organization’s set-up which nay be experiencing problems and issues that may emanate from the external environment such as changing laws and problems outside the firm or establishment which may affect the life, continuity and effective productivity of the organization.  Lastly, self-organizing type of planning is centered on the organization’s core of values and that any or all of the various problems or issues encountered have to be evaluated according to the values of great importance to the members of the organization (McNamara, 2006). -Planning can lead to organizational change. What do the text writers feel are the issues that face the manager who plans to bring about organizational change?            Organizational behavior is actually a complex and dynamic mechanism. It includes the application and integration of theoretical perspectives from the social and behavioral sciences to shed light on how and why individuals behave in a variety of ways in organizations. Included in the study are the ways the individuals carry out their tasks, the structure, design and operation of human persons in simple and complex organizational set-ups (Mangelsdorff, 2007).            This is accomplished utilizing the systems approach or systems model. The latter is meant as interpreting people and organizational relationships in reference to the whole individual, â€Å"whole group, whole organization, and whole social system†(Knoster et al., 2000). The objective is developing improved and enhanced relationships by attaining individual aims, organizational goals and social aspirations (Mangelsdorff, 2007).            Specifically, any student who pursues the study of the concepts involved in the matter will examine how individuals work in groups; acquire insights into human strengths and interpersonal relationships. Intertwined in the study is to delve into theories or principles of motivation of personnel, effective leadership with the goal of formulating a sound thinking and values of management and leadership. Moreover, organizational behavior investigates scientific data and utilizes a variety of research traditions to further understand how individuals work and function efficiently in diverse forms of structures (Shortell et al., 2000)            The concepts that are pursued in organizational behavior include the following: the evolution and organizational and management theories; the rich historical background of management, organizational theories and the development of management thought, are adequately covered in this particular aspect (Robbins,1997).            Organizational behavior, when scrutinized closely, thus far covers a lot of topics. It embraces the understanding of structure, design of the organization itself. It also includes the study of the work design, policies and practices of the human resource, job design, and decision making as an organization. Furthermore, it also examines the organizational culture, its dynamics where change is aimed to be implemented (Revans, 1982) How should a planner go about the process of identifying strengths, weaknesses, and distinctive competencies in an organization? What is the impact of the findings on planning?            Working relationships are a central portion of a person’s life. Motivation and dedication to any endeavor (e.g. work) and the pleasure from it are collective concerns of the organization and the individual. There are definite factors that generate satisfaction, the so-called â€Å"motivator†factors according to Herzberg. These factors push the worker to the highest levels of accomplishment possible. They are an inherent part of the work itself and consist of the nature of the work, the person’s sense of achievement, level of responsibility, and individual development and improvement. These motivator needs can only be rewarded by stimulating, challenging, and absorbing work. Consequently, the goal of motivation should be to enhance individual growth and advancement, develop sense of accomplishment and liability, and provide recognition (Franken, 1994).            Psychology recognizes different perspectives of motivation. One of these viewpoints pertains to the idea of â€Å"motivational inducements,†otherwise known as incentives. Incentives are referenced from either the vantage point of internal, or that of external motivation. An inducement coming from within the individual is called intrinsic or internal motivation. It is, according to Morris and Maisto, about the â€Å". . . desire to perform a behavior that originates within the individual.†An inducement coming from outside the individual is called external or extrinsic motivation. It is the aspiration to do or achieve a goal in order to acquire a type of incentives or escape or steer clear of punishment (Morris and Maisto, 1999, p.316). People are often induced by the presence of external incentives to perform expected tasks or avoid incurring punishment. For motivation experts, however, a person developing the internal type of motivation will reap more lasting and beneficial effects compared with external motivation (Morris and Maisto, 1999).            For instance, in taking care of a medical surgical unit and handling newly hired nurses with a few years of experience only, myriads of problems are not remote possibilities. From issues of tardiness during call of duty, in irresponsibility in dispensing of medicines and relational clashes, to grave misconduct within the workplace such as sexual harassment between employees, these are all stark realities that are potential complex problems. Initiating the Herzberg idea can probably be useful. I will groom first the few expert nurses and those who will be directly supervising others that they practice and execute specific agenda for increasing motivation, one of which is Management by Objectives (MBO). It entails having faith in involving the employees in goal-setting and in decision-making. MBO works by integrating goal-setting into individual participation in decision-making in order to establish individual work goals to which the employee feels reasonably committed. At the motivational level, it is theorized that resistance to change is decreased if individuals participate in decisions regarding change and that individuals accept and are more committed to decisions in which they have participated in making. To further encourage and increase involvement, the hospital provides suggestion boxes and hold monthly contests where they give monetary rewards for the best three suggestions. These give the employee a sense of achievement and responsibility for its success. For this workplace in particular, the employees receive incentives in the form of Ladder promotion, general salary increase annually plus performance rating salary increases, CBA – employees can expect a minimum of 15% increase in salary annually within three years; and welfare benefits which include group insurances, medical insurance, accident benefits among others (Baron, 1983). A set-up like this goes to such great lengths at least to assure that it does something for sustaining employees’ morale and motivation. -Discuss the relationship between mission statements, planned change, and unplanned change. Use illustrations.            The elements of organizational behavior lean upon management’s plan and philosophy, vision and objectives. Basing on this foundation springs the organizational culture where the formal and informal types of organization and the social environment are best understood (Knoster et al., 2000).            Every person in direct supervision of employees or workers knows the intricacies of leadership and management of people under his/her care. Whenever possible, it is to the best interest of the organization and employer in general that the workers perform their respective jobs efficiently and on a continuous or consistent manner. This is the aspiration of every owner of a company or those delegated to deliver their/his/her goals. However, this will only work so long as the individuals in their various places or positions know and understand what they want and where they want to go in the context of the overall goals of their organization. Intertwined in this idea is the fact that individuals are motivated to work not only for them but that the vision and mission, goals of the corporate world where they belong must be their own also. Ownership as a motivational factor is critical for the survival and sustainability of both the individual worker and the organization as a whole. Studies reveal that how an organization runs depends upon every human person within the workplace functioning as he/she should be in order that productivity is achieved. This is actually a cyclical picture; both the organization or employer level and the rank and file levels must understand the team and group dynamics that must work to achieve their own objectives. However this seemed to be easy to understand, the applications of which are complex involving multiple disciplines (Mangelsdorff, 2007). Conclusion            The problem of employee motivation is critical in all kinds of organizations today and is responsible for the shoddy products we buy and the careless service we receive. It was thought that all that was necessary to produce high motivation in workers was to pay them more; this idea may no longer be valid for a large portion of the work force (Adams, 1965). Modern workers demand jobs that satisfy their inner needs for fulfillment, expression, and self-actualization. Traditional values involved loyalty to the company and a strong drive for money, status, promotion and security. The new breed of workers focuses on self-fulfillment and self-actualization and demands jobs that are challenging and that allow participation in decision-making (McClelland, 1976). They have little loyalty to the organization and less concern with money, status and security.            Psychologists have proposed several theories of motivation. The need for achievement by McClelland posits the existence to be the best in whatever they undertake. Studies show that good executives are higher in Ach than poor ones. High in ability and take calculated risks and set moderate achievement goals. These individuals constantly need feedback on their progress (Halonen Santrock, 1996).            These theories deal with content of motivation, with internal needs that arouse and guide behavior. Process theories of motivation focus on the psychological processes involved in making decisions and choices about work. This is illustrated in the goal-setting theory, which argues that employee motivation is defined by our intention to achieve a particular goal; and equity theory, which deals with our perceived ratio or outcome to input and how equitably that ratio compares with those co-workers (Halonen Santrock, 1996).            The workplace today considers any of the perspectives mentioned in this paper. However, what are more reflective at many organizations are their strategies in enhancing the life of the average worker. The understanding of the needs or drives that motivate people is therefore critical in the choice of what â€Å"motivator variables†that the management may employ to encourage their people to do or sustain an excellent job or an efficient performance.            Mentoring and its application is very much the vogue today in corporate America. It is a strategy employed by companies or institutions to enhance professionalism and the increased transfer of learning and building of skills from the more adept and/or experienced to the junior or neophyte employee. It is also a way of improved retention rate within a company. Reference: Baron, R. 1983. Behavior in Organizations: Understanding and Managing the Human Side of Work, Boston: Allyn and Bacon. Bruffee, Kenneth A. Collaborative Learning: Higher Education, Interdependence, and the Authority of Knowledge. Baltimore: Johns Hopkins Univ. Press, 1993. Demick, J. and Miller, P., Development in the Workplace, Lawrence Erlbaum Associates, Publishers, New Jersey, 1993. Druckman, Daniel, Jerome E. Singer, and Harold Van Cott (Editors) (1997). Enhancing Organizational Performance. National Academy Press: Washington, D.C. (optional) Franken, R.E. 1994, Human Motivation (Belmont, CA, Wadsworth). Halonen, JS and JW Santrock, 1996. Psychology: Contexts of Behavior, Dubuque, IA: Brown  and Benchmark, p.810. Knoster, T., Villa, R., Thousand, J. (2000). A framework for thinking about systems change. In R. Villa J. Thousand (Eds.), Restructuring for caring and effective education: Piecing the puzzle together (pp. 93-128). Baltimore: Paul H. Brookes Publishing Co. Landy, F.J. 1985. Psychology of Work behavior. 3rd Ed. Dorsey Press. Mangelsdorff, David A.2001. â€Å"Organizational Behavior and Theory. Accessed August 19, 2008 http://users.idworld.net/dmangels/orgbeh.htm McClelland, D. C., Burnham, D. H. 1976. Power is the great motivator. Harvard Business Review, 54(2), 100-110. McKenna, Eugene, 2000. Business Psychology and Organizational Behavior: A Student’s Handbook. 3rd Ed. Psychology press: Taylor and Francis Group. McNamara, Carter. 2006. â€Å"Basic Overview of Various Strategic planning models.†Retrieved August 19, 2008. http://www.managementhelp.org/plan_dec/str_plan/models.htm Morris, Charles G., Maisto, Albert A., 1999. Understanding Psychology.4th ed., Prentice Hall: New Jersey, pp.315-316. Revans, R. W. 1982. The Origin and Growth of Action Learning. Hunt, England: Chatwell-Bratt, Bickley Robbins, Stephen P. 1997. Organizational Behavior: Concepts, Controversies, Applications, Eighth Edition, Prentice Hall. Shortell, Stephen M. and Arnold D. Kaluzny. 2000. Health Care Management: Organization Design and Behavior, Fourth Edition, Delmar Publishers Inc. Revans, R. W. 1982. The Origin and Growth of Action Learning. Hunt, England: Chatwell-Bratt, Bickley Robbins, Stephen P. 1997. Organizational Behavior: Concepts, Controversies, Applications, Eighth Edition, Prentice Hall.
Saturday, October 26, 2019
Old Man And The Sea :: essays research papers
In the book, The Old Man and the Sea, Ernest Hemingway tells a story of an old fisherman. The old man, named Santiago, had gone for eighty-four days without catching a fish. Santiago feels that the following day would be a good day because eighty-five is his lucky number. The following day he gets up before dawn and sets out for a day of fishing. He had set one bait at forty fathoms, the second at seventy-five fathoms, and the third and forth were at one hundred and one hundred and twenty-five fathoms. While Santiago is fishing he sees a bird trying to get a flying fish that was being chased by tuna. The old man tries to put his boat over the school of tuna in hope of getting a catch. Suddenly something hooked itself on the bait that was set at one hundred and twenty-five fathoms. The old man had caught a huge marlin that was now pulling him out to sea. The fish continued to pull the old man out to sea for about 3 days. The old man survived by putting one of his other lines out so th at he could catch fish and eat them in order to keep his strength. On the third day he finally caught the fish. He had pulled the fish in slowly and then threw his harpoon at the fish's heart killing it instantly. The old man tied the fish to the side of his skiff and began to sail home. As he was sailing a shark took a large bite out of the fish he had caught. The old man harpooned the shark in his brain, and as the shark rolled off of the fish it took the old man's harpoon with it. The old man knew that there would be other sharks that would follow the scent of the fish's blood. He tied his knife to the butt of one of his oars. Two more sharks came and the old man killed them both. The second shark broke the blade as it rolled off the fish. Desperate, the old man waited for the other sharks. All he had left was a club, and he was going to use it. More sharks came, but this time in a pack. The old man desperately fought off the shark with his club, but the club was grabbed from his hands.
Thursday, October 24, 2019
Reflection on Placebo Effect Essay
Does a Supportive Patient-Therapist Relationship Enhance Clinical Improvement? Kaptchuk (2008), Components of Placebo Effect: Randomised Controlled Trial in Patients with Irritable Bowel Syndrome. (PRO) Argument 1: Kaptchuk (2008) suggested that placebo effects (non-specific effects) include three components: a patient’s response to observation and assessment, the patient’s response to the administration of placebo treatment, and the patient’s response to the patient-practitioner interaction. Kaptchuk (2008) found that the symptoms of IBS patients in the condition with placebo treatment and supportive patient-therapist relationship ameliorated the most across all measures compared to patients with having only observation and the patients with only placebo treatment. Thus he claimed that a supportive patient-therapist relationship is the most potent component of placebo effects. Argument 2: After three and six weeks, only in the condition with placebo treatment and supportive patient-therapist relationship, the symptom severity score of 60% patients decreased 50. Also Kaptchuk (2008) found that after six weeks, the change in life quality of patient in condition with only observation and the life quality of patient in condition with placebo treatment was similar, but the life quality change of patient with placebo treatment and supportive patient-therapist relationship was observable. So Kaptchuk (2008) suggested that a supportive patient-therapist relationship can enhance clinical improvement. Argument 3: Kaptchuk (2008) also compared these IBS patients to the patients who received IBS drug treatment. He found that the patients with placebo treatment and supportive relationship had comparable symptom relief as those who with drug treatment. His finding was only applied to IBS patients with supportive patient-therapist relationship, thus he indicated that a supportive patient-therapist relationship could enhance the efficiency of clinical treatment. Critique (or Strength): The result of the study done by Kaptchuk (2008) clearly demonstrated the importance of supportive patient-therapist relationship in medical treatment. However, Kaptchuk conducted the study on IBS patients, because he believed that placebo effects are most likely to be demonstrable in disorders defined by subjective symptoms. As Kaptchuk (2008) stated in limitation that he did not know if his finding could be applied to other illnesses, I also think that if Kaptchuk conducted his study on patients with the disease that has external causes, the results will be more convincing. One of important causes of IBS is stress, a subjective etiology. Thus a supportive patient-therapist relationship may have greater influence on IBS patient than the patient with other diseases, like flu.
Wednesday, October 23, 2019
Art: The Aesthetic Experience and the Sublime Essay
Art the articulation, documentation, and visualization of different ways of life. Art forms are found in the minutest object to the grandest idea. Everybody can do art. Art defines man above the rest of the species. And for high forms of lifestyles found spread across the history of man’s existence, art highlights man’s dreams, aspirations, successes, failures, past, and futures.            A person in the process of creating art and appreciating art as maker and viewer goes through an aesthetic experience. The aesthetic experience’s existence has been criticized in the past but recent publication has placed importance on the value of the aesthetic experience as proven each time nature is appreciated, and the value of beauty is discussed. â€Å"Contemporary artists and curators are moving away from producing art as idea or concept and beginning to re-evaluate and re-acknowledge the value of aesthetic experience and the role the artwork plays in that experience.†(The Value of Aesthetic Experience).             The aesthetic experience is further galvanized by the sublime. Up till today, modern philosophers try to articulate, study and experiment on aesthetic experiences that can capture the sublime moments in art and art appreciation. Though attempts have been continuous, one thing is for sure philosophers, that would rather down grade the effects of the sublime moment cannot resurrect from their graves. â€Å"The sublime implies that man can, in emotions and in language, transcend the limits of the human condition. Longinus’s approach is contradistinguished from Plato’s declaration of poetic inspiration as dangerous divine madness or the poet as liar. Yet like Plato, Longinus feels that the human was the art or technical aspects, while the sublime was the â€Å"soul†or that which eluded our experience of art. In order to understand the sublime, we must have some notion of what exists beyond the human, empirical experience.†(†¦, 2006) Because of aesthetic experience and the sublime found in art, the mediums of art becomes a power tool to convince, communicate, and interpret reality and the lives that people lead in the here and now. When there is power, there is responsibility. Roles and responsibilities expected from the artists and craftsmen remain controversial. It is best to focus responsibility of the viewer appreciating, buying, or selling the work of art. These people viewing art is the one responsible in judging the value of the art appreciated or trashed. Each judgment on the work of art always add up to a critical mass perception on what is beautiful and what is ugly, what is worthwhile and worth keeping as a treasure. At the least there must be a conscious effort in the part of the viewer to become aware of the factors that influence his perception of art. â€Å"Some of these psychological factors influencing the perception of art include culture, sex, age, formal art education, politics, economics, and value systems. Besides these variables of aesthetic perception are biological components like the way our consciousness functions, as an end product of evolution. Art thus includes the perceptual cognitive factors of the unconscious and psychophysical sensory mechanisms of the human body. There is also the influence of time and materials used in fabricating the art. Some aesthetic factors identified from these variables include the following: â€Å"boredom†, â€Å"surprise value†, â€Å"familiarity†, â€Å"novelty†and â€Å"nostalgia†.†(Chang, 1980) Lastly, the power in art bestows on it a role defined by each culture where it flourishes. As diverse as culture, beliefs, lifestyles, and perceptions, art in one place cannot be expected to be similar with another place. Different works of art document the different historical experience of men and women. The artist needs to continually engage art rather than reject society. Art because it cannot be beautiful without the freedom to release the sublime during the aesthetic experience, has the capacity to balance cultural ills that maims society from functioning. Art helps people and society rise above their capacities and become larger energies. Without art, humanity will starve and experience will dwindle to a void. References: Chang, Rodney. 1980. What is art? Retrieved October 31, 2006 from, http://www.lastplace.com/whatisartform.htm †¦ The Value of Aesthetic Experience. 2006. Retrieved October 31, 2006 from, http://londonaesthetics.tripod.com/ †¦ The Sublime. 2006. Retrieved October 31, 2006 from, http://www.sjsu.edu/faculty/patten/sublime.html
Tuesday, October 22, 2019
Marooned Ice Breaker Party Game for Adults
Marooned Ice Breaker Party Game for Adults If you were marooned on a deserted island, who would you want with you? This ice breaker is a great game to play when people don’t know each other, and it fosters team building in groups that already work together. I have always found peoples choices to be very revealing about who they are. Ideal Size Up to 30. Divide larger groups. Use for Introductions in the classroom or at a meeting, and as a team building exercise. Time Needed 30 minutes, depending on the size of the group. Materials Needed None. Instructions Give people a minute or two to think about this question: If you were marooned on a deserted island, which three people would you want with you? They can be dead, alive, or imaginary. Ask participants to introduce themselves and share their choices with the group. Start with yourself so they have an example. Example Hi, my name is Deb. If I were marooned on a deserted island, I would want Tim with me because he’s smart, strong, and fun, and I love him. He would know how to make a shelter and find food, and we’d have wonderful conversations. My second choice would be someone who tells great stories, like Garrison Keillor or Eoin Colfer. And my third would be Solomon Burke, the blues singer, so we’d have soulful music. Debriefing Debrief by asking if there were any surprises in the group and if anybody has a question for another participant. You will have listened carefully to the introductions. If somebody has chosen a person related in any way to your topic, use that person as a transition to your first lecture or activity.
Monday, October 21, 2019
Museum Exhibit Outline Essay Example
Museum Exhibit Outline Essay Example Museum Exhibit Outline Essay Museum Exhibit Outline Essay Museum Exhibit Outline Name: Institution: Museum Exhibit Outline Research before experience Study the topic on segregation especially what it meant, how it was evidenced such as through media and about artifacts likely to be found on the topic Resources researched i. Abel, E. (2008). American Graffiti: The social Life of Segregation Signs. African American Review, 42 (1):9-24. The article talks about how segregation was represented, talking about some of the cartoons depicted in a daily paper. The article further talks about these representations and their effect in maintaining the segregation. It also covers the narrative accounts of encounters with signs segregation that have mostly inclined to allegory as well as to reconstruction after civil rights. It provides an account of the likely artifacts to find in the exhibition as well as their meaning ii. Norman, B. (2009). The Historical Uncanny: Segregation Signs in Getting Mother’s Body, a Post-Civil Rights American Novel. African American Review, 43 (2): 443-456. In this article, the author suggests that segregation signs are objects of desire as well as scorn within the post-civil rights. He seeks the signs from museums and public exhibits as a way of reassuring that such segregation is dead. However, he wonders whether such exhibitions present the real experience of living in compulsory racial segregation. iii. Phillips, D. (2007). Ethnic and Racial Segregation: A Critical Perspective. Geography Compass, 1 (5): 1138-1159. In this article, one understands segregation from a different perspective other than the segregation seen in the early 20th century. It seeks to show how segregation is conceptualized, the implication arising for geographical research, how to measure racial segregation, its meaning, forces behind it and how its visual representation is used in political and policy spheres. Experience at Jim Crow Museum of Racist Memorabilia Each day at the Jim Crow museum objects of different forms and dimensions are displayed. However, one theme resonates in all of them, which is racism especially during the segregation era. From cartoons, drinking glasses, detergent boxes and pictures depicting the segregation are displayed. The exhibition presented real artifacts and showed what it was like to live during those days. As an African, one would believe in their inferiority, laziness, inarticulate, idle and physically unattractive. On the other hand, whites were portrayed as superior and opposite of the African Americans. Looking at some of the posters, such as one showing where colored people were to sit in the bus and where to wait, brought an experience of what it was like to live in such an era. Reflecting on experience After carrying out research before the experience, it was easier to understand what segregation meant during the exhibition. The research provided information about racial segregation that came from the belief that Africans were inferior to whites. From the research, I was able to understand segregation and several of its forms including geographical, occupation and educational segregation. I realized that segregation could be in different ways, not just separating of facilities such different schools for different races. It could also be through how services are provided to the different races as well as the stereotypical beliefs that determine the relationship between two races. One similarity that I experienced with both the Experiential Learning and my own experience with diversity is that, stereotypical beliefs could be a factor in determining the kind of relationship one can have with a person from another race. For instance, believing that all Asians are good at mathematics made me think that they always perform highly. What I gained about diversity is that people as individuals are diverse, and people from a different race should not be viewed in a generalized way although several characteristics are similar depending on their cultural background. One question that boggles me is how segregation is presents at this time because I think it still exists. Applying experience In my experience, I think that one change that is required is having people believe that generalizations of stereotypes about different races truly exist. Rather, people need to drop such misconceptions and embrace diversity as individual level. References Abel, E. (2008). American Graffiti: The social Life of Segregation Signs. African American Review, 42 (1):9-24. Norman, B. (2009). The Historical Uncanny: Segregation Signs in Getting Mother’s Body, a Post-Civil Rights American Novel. African American Review, 43 (2): 443-456. Phillips, D. (2007). Ethnic and Racial Segregation: A Critical Perspective. Geography Compass, 1 (5): 1138-1159
Sunday, October 20, 2019
Stalwart
Stalwart Stalwart Stalwart By Maeve Maddox A reader asks for clarification regarding the word stalwart: I am confused about the meaning of â€Å"stalwart†in the following context: â€Å"One of the most influential companies in high technology right now may be a 135-year-old industrial stalwart.†According to OED, as a noun, stalwart means â€Å"loyalist, hard-working supporter.†Nonetheless, I fail to grasp the meaning of stalwart qualified by industrial as adjective. As a noun, stalwart has more than one meaning; â€Å"loyal supporter†is only one of them. Stalwart began as an adjective. The Old English adjective stalworth was applied to things like ships to mean â€Å"serviceable.†When applied to people and animals, it meant, â€Å"strongly and stoutly built.†The meaning extended to include brave, courageous, and valiant. In Scots dialect, the word became stalwart and was reintroduced into English thanks to the popularity of the novels of Sir Walter Scott. In modern usage, stalwart functions as both adjective and noun. Adjective As an adjective, stalwart means, resolute, unbending, and determined, as well as brave, courageous, and valiant. For example: The epic valor of the Greeks in driving back the Italian invaders together with Britain’s stalwart resistance to Hitler’s crushing blows, has given new meaning to human courage in war. Her stalwart defense of the environment in Maryland is embodied in her support for building a green jobs workforce, protecting the Chesapeake Bay, and for a clean energy economy. Noun â€Å"A stalwart†can be a person who has achieved wide recognition in some business or pursuit: Hollywood stalwart Ernest Borgnine dies at age 95 Josh H. Groce, a noted stalwart of the Texas trial bar Or it can refer to a company or institution that has been in operation for a long time. This is the sense in which stalwart is used in the sentence submitted by the reader. Here are some more examples of this use of stalwart to refer to a company: Sales for the New York-based pharmaceutical stalwart were $13.56 billion against last years $13.89 billion. The remaining companies experiencing growth last year [included] electronics retailer HHGregg Inc. and pharmaceutical stalwart Eli Lilly and Co. And while many of its architects are well-known Silicon Valley companies, longtime Milwaukee industrial stalwart Rockwell Automation Inc. has positioned itself at the heart of the phenomenon, which some consider the next industrial revolution. Finally, in the context of politics, the noun stalwart means, â€Å"a sturdy uncompromising partisan†: AIPAC lauds re-election of pro-Israel stalwarts First deficit panel picks are Democratic stalwarts Utah is overall a conservative state much in line with the public policy principles of Republican stalwarts like Gov. Mitt Romney, Gov. Michael Leavitt and Gov. Jon Huntsman. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Masters Degree or Master's Degree?44 Resume Writing TipsPersonification vs. Anthropomorphism
Saturday, October 19, 2019
Personal Commitment to Respecting Cultural Differences and Avoiding Essay
Personal Commitment to Respecting Cultural Differences and Avoiding Cultural Bias - Essay Example In their discussion of the role of culture in individual behavior, Tillman and Kirkpatrick (1972) argue that the culture explains variance in human behavior. Culture is defined by Tillman and Kirkpatrick (1972) as the set of concepts to which a common valence is attached by a large number of individuals. So a certain individual's values reflect the goals and valences of that person's culture. Therefore, since consumer trust has been noted as a concept of individual behavior above, it becomes important to understand the values of that culture. Culture is the sum total of capabilities and habits acquired by humans as members of society, encompassing their knowledge, beliefs, art, morals, laws, and customs. Multicultural education is derived from the classical term "Intercultural Education" that began in the late 1920's with the premise of: "the acknowledgement of the diverse population of the United States, and the intent to help students understand the world and the American society in which they live" through education of the ethnic backgrounds and cultural variances of immigrant populations being educated in the United States (Volk p 3 1998). This developed towards the current definition as 'Multicultural Education" through 1970's as educators formed the belief that understanding the values and variances of culture would assist in educating children. Multicultural education should therefore support the concepts of culture as part of the educational curriculum. It seeks to support and extend on the learned behaviours of culture that define the variances between human social structures. While this can be viewed as an ambiguous and intrinsic concepts, there are also physical characteristics of culture that can be implemented into the education structure, such as symbols, heroes (stories) and rituals. Furthermore, multicultural education can not stop simple at the value of culture, it also encompasses concepts such as language, social class (poor vs. rich), disability and gender with the conviction that multicultural education is a strategy wherein the cultural heritage of each child is valued. The concept of multicultural education is to take the components of culture, incorporate the differences of people, and implement an educative curriculum that a celebration and experience of who we are, as individuals and as society. Effect of Cultures on Multicultural Education Martinez (2006) found that teachers and high school students believe that embracing diversity is important because it leads to social justice. Martinez concludes that for students, diversity was referred to the ways in which students differ from each other, including gender, age, ethnicity, race, religion,
Friday, October 18, 2019
Public health internship Personal Statement Example | Topics and Well Written Essays - 500 words
Public health internship - Personal Statement Example remains under services or worse, unserviced, due to their lack of health insurance and financial ability to pay out of pocket for their medical needs. As a volunteer of the HRSA, I will be able to help the under privileged community get the health care need that they deserve. It is only fitting that I pay back in this manner, after all, I am being educated at someone elses expense. People understand the need for competent health care but do not have any idea as to how such health programs come about. That is why I am interested in participating in the documentation and research aspect of the program. By assisting the professionals in collating information and writing up their reports, I will be able to gain a more thorough understanding of the complex process that is undertaken by the department of health in order to develop life saving programs for those in need. I am particularly looking forward to participating in the classification projects that will help organize the needs and requirements of the various individuals who come to us seeking medical help. It will be interesting to see how this work is accomplished and how it affects the lives of those who need our help. I am looking forward to becoming an HRSA intern because I know that I will be able to make a difference in the community that I am assigned to. I know that the projects I will be involved in will be one of the most effective ways of getting medical care to the communities that need it the most. We live in difficult financial times. That makes receiving the proper health care all the more difficult for most people. Through my internship at the HRSA, I hope to be able to help ease or alleviate the sense of helplessness that the underprivileged or under insured feel about their status in life. That is why the work that the HRSA does is of vital importance to every citizen of this country. At the end of my internship at the HRSA, I hope to have achieved a level of competency in various work
Summarize the article Essay Example | Topics and Well Written Essays - 750 words
Summarize the article - Essay Example The authors state that core mathematics programs that use an explicit and systematic instructional approach provide an in-depth coverage of the most critical areas of mathematics and help students with disabilities achieve the best and effective learning. This core programs reflect the current research on effective mathematics instruction meaning that they are highly developed to support the learning of mathematics for children with disabilities. The authors point out that much of the research done on this area have concentrated on the effects of small group intervention strategies. For learners with disabilities, modifications are required from time-to-time. Therefore, core programs give teachers the instructional foundation to make modifications that are required make the instructional intensity effective especially for struggling learners (Doabler, Jungjohann and Baker 50). Research has indicated that many reviews in the curriculum fail to address demonstration of target content, structured student practice and procedures to get academic feedback. However, there are certain guidelines that teachers can use to make their core mathematics instruction more explicit and systematic for children at risk of mathematics disabilities. However, the teachers must understand the importance of explicit and systematic instruction. First teachers must understand what explicit and systematic instruction entails. Research has indicated that children at risk of mathematics disabilities (MD) learn better, when teachers use explicit and systematic instruction. Explicit instruction is a method used for teaching essential skills in the most efficient manner. Explicit and systematic instruction entails unambiguous teaching models, sequencing of instructional examples, instructional scaffolding, timely feedback and cumulative review of the whole process. The second issue is the practical guidelines for examination and enhancement of core math instruction. The authors
Thursday, October 17, 2019
Financial analysis of Burberry Company(FTSE 100 Company) Assignment
Financial analysis of Burberry Company(FTSE 100 Company) - Assignment Example fiscal year 2012/13 on market review and research that will be centered on important sites in Asia.2 Indeed, Burberry has turnout to be resilient. Since 2009, the company’s assets have grown by 43% and its equity has increased by 64%. The equity growth is mostly due its Retained Earnings that have more than doubled during the last four fiscal years of the company – from ?199.2 million in 2009 to ?507.1 in 2012. To fuel the continuing expansion of its operations in the last four years and to fund its working capital requirements, Burberry has not opted to issue additional common shares. Thus, its common stocks, at par value, have not increased in the course of the last four years. Instead, Burberry’s long-term liabilities have increased by almost 250% from ?35 million in 2009 to ?122.4 million in 2012. While Burberry has generally been operating as a profitable company, it incurred a net loss of ?6.0 million for the year ended 31 March 2009. In spite of the dire e ffects of the financial crisis that substantially crippled global giants that have considerable operations in USA and Europe, Burberry has generated operating profits that amounted to ?182.6 million for 2009. However, the non-operating expenses for 2009 ended up gobbling such profits made from the company’s operations. The total bulk of ?193.5 million was incurred mostly for booking impairment charges at ?129.6 million – the sum of ?116.2 million pertaining to the goodwill initially recognized for Burberry’s operations in Spain plus ?13.4 million for the stores established in the same country. In addition, negative goodwill has as well been credited at ?1.7 million for the formation of the Burberry Middle East joint venture. These procedures were conducted in compliance with International Financial Reporting Standards (IFRS) regulations that uphold International Accounting Standards (IAS) #36, which require the writing down of impaired assets and the recognition of impairment losses on goodwill and intangible assets.3 The foregoing matter aside, Burberry’s operations has delivered Earnings Before Income Tax (EBIT) that increased year-on-year from 2009 to 2013. In fact, the company’s EBIT in 2012 is 195% of the equivalent in 2009. The income statements below provide that while Burberry’s revenues increased by 54.57% from 2009 to 2012, its cost of sales increased by only 4.22%. This reflects an increased efficiency in the operations – sourcing, production and distribution. The balance sheets and income statements of Burberry for the years 2009 to 2012 reflect an overall uptrend of its income and, subsequently, its book value per share. The common-size balance sheets highlights the increasing share of Burberry’s equity vis-a-vis the decreasing share of its total liabilities in the total assets of the company. It means that the investment of creditors in the form of loans, etc. have through time become less t han the worth of the company’s equity. While the company’s assets were represented as 51.68%-liabilities and 48.32%-equity in
Human bodys nonspecific second line of defense Assignment
Human bodys nonspecific second line of defense - Assignment Example Immunity is further subdivided into a number of concepts to facilitate the learning for students. The concept chosen here to demonstrate the learning method is human body’s nonspecific second line of defense. This is aimed towards college students and it has been assumed that they have prior understanding of the components of the defense mechanism and know the structure of proteins and WBCs (Glucksman, 2006). In Part 2, using examples and non-examples the concept will be explained in an east-to-grasp manner for students. These examples and non-examples have been chosen to make the concept easier for the students and will be analyzed further to allow students to distinguish between the relevant and irrelevant details based on their relation with critical features to gain clarity of concept. Part 3 will finish the learning exercise with a set of questions aimed at testing the comprehension of the project by the student. They will be different than the examples and non-examples so as to gauge student’s learning. For each short question, the student should be able to give a brief explanation and identify the critical feature involved. Answers have been provided in the Appendix for reference of both students and teachers. Human body’s second line of defense system protects the body against all types of nonspecific infections and antigens. All the features work together to provide the body with the immunity enabling it to survive and fight the foreign invasions. The critical features are: Each critical feature will be further explained in detail. Their function, site of action, and effectiveness in combating the disease will be discussed with the students. Also, the results if second line of defense is compromised will be highlighted. Phagocytic cells are involved in the nonspecific immunity as they attack and ingest the foreign particles, antigens. There are a few types
Wednesday, October 16, 2019
Financial analysis of Burberry Company(FTSE 100 Company) Assignment
Financial analysis of Burberry Company(FTSE 100 Company) - Assignment Example fiscal year 2012/13 on market review and research that will be centered on important sites in Asia.2 Indeed, Burberry has turnout to be resilient. Since 2009, the company’s assets have grown by 43% and its equity has increased by 64%. The equity growth is mostly due its Retained Earnings that have more than doubled during the last four fiscal years of the company – from ?199.2 million in 2009 to ?507.1 in 2012. To fuel the continuing expansion of its operations in the last four years and to fund its working capital requirements, Burberry has not opted to issue additional common shares. Thus, its common stocks, at par value, have not increased in the course of the last four years. Instead, Burberry’s long-term liabilities have increased by almost 250% from ?35 million in 2009 to ?122.4 million in 2012. While Burberry has generally been operating as a profitable company, it incurred a net loss of ?6.0 million for the year ended 31 March 2009. In spite of the dire e ffects of the financial crisis that substantially crippled global giants that have considerable operations in USA and Europe, Burberry has generated operating profits that amounted to ?182.6 million for 2009. However, the non-operating expenses for 2009 ended up gobbling such profits made from the company’s operations. The total bulk of ?193.5 million was incurred mostly for booking impairment charges at ?129.6 million – the sum of ?116.2 million pertaining to the goodwill initially recognized for Burberry’s operations in Spain plus ?13.4 million for the stores established in the same country. In addition, negative goodwill has as well been credited at ?1.7 million for the formation of the Burberry Middle East joint venture. These procedures were conducted in compliance with International Financial Reporting Standards (IFRS) regulations that uphold International Accounting Standards (IAS) #36, which require the writing down of impaired assets and the recognition of impairment losses on goodwill and intangible assets.3 The foregoing matter aside, Burberry’s operations has delivered Earnings Before Income Tax (EBIT) that increased year-on-year from 2009 to 2013. In fact, the company’s EBIT in 2012 is 195% of the equivalent in 2009. The income statements below provide that while Burberry’s revenues increased by 54.57% from 2009 to 2012, its cost of sales increased by only 4.22%. This reflects an increased efficiency in the operations – sourcing, production and distribution. The balance sheets and income statements of Burberry for the years 2009 to 2012 reflect an overall uptrend of its income and, subsequently, its book value per share. The common-size balance sheets highlights the increasing share of Burberry’s equity vis-a-vis the decreasing share of its total liabilities in the total assets of the company. It means that the investment of creditors in the form of loans, etc. have through time become less t han the worth of the company’s equity. While the company’s assets were represented as 51.68%-liabilities and 48.32%-equity in
Tuesday, October 15, 2019
Outbound Tourism from China Essay Example | Topics and Well Written Essays - 2000 words
Outbound Tourism from China - Essay Example Furthermore, the number of Chinese traveling to other abroad grew by over 25 per cent between 2000 and 2006 "BNET". For instance, in the year 2005 the Chinese made 31 million overseas trips (Cochrane 2008). The current high figures of outbound tourism from China did not grow overnight. China's policies in the past were restrictive and this minimized the number of travels by the Chinese in years before 1990 (Wen & Tisdel, 2001). For example, before 1990, the Chinese's travel abroad was mainly restricted to official visits or commercials functions rather than for holiday or leisure (Wen & Tisdel, 2001). Good tidings came in 1990 when China began relaxing its policies on outbound travel, first allowing visits to Southeast Asian counties for tourism purposes (Gu & Ratliff 2006). Perhaps this is the reason why outbound travel by the Chinese to the countries in this region is high. Along this line, "BNET" noted that the vast majority of overseas trips made by Chinese in 2005 were targeted for Hong Kong and Macau. In the 1998, the total number of Chinese who made overseas trips was 8.4 million, of which 5.2 travellers were doing business while the rest were on private functions (Wen & Tisdel, 2001). China's rising middle class income and an increasing crave to see the rest of the world make the country a significant outbound tourism market (Wen & Tisdel, 2001).. As cited above, China is progressively easing foreign travel policies and this adds impetus on the need to travel abroad. The rising levels of disposable income among the Chinese and constant exposure to foreign countries through television and the Internet have greatly contributed to the increase in outbound tourism from China (Prasad & Barnett 2004). The increase in number of travel agencies is indicative of the increase in number of outbound tourists. As an illustration, the number of travel agencies rose from 6,222 in 1998 to 11,552 in 2002 (Prasad & Barnett 2004). That a rise incomes among the Chinese and outbound travel policies have been phenomenal in promoting China's outbound tourism cannot be gainsaid. However, the two factors per se cannot be acclaimed to be determinants of outbound tourism. Other factors such as government limitations on the countries to which to travel come into play. For example, there is a list of countries that have an "Approved Destination Status" to which Chinese can freely travel (Lew et al 2002). Outside these countries, Chinese towards are perceived to be risking their lives (Lew et al 2002). The above factors and many others such as personal preferences and choices affect China's outbound travel. A discussion of the same and appraisal of relevant statistics forms the basis of discussion of this paper. Factors that have promoted China's outbound travel and tourism Changes in outbound travel policy China had a strict outbound travel policy that barred the Chinese from traveling overseas until 1983 (Zhang, Pine & Lam 2005). The Chinese government
Utility Programs and Macros Essay Example for Free
Utility Programs and Macros Essay Definition: A utility program is a program that performs a common task, such as copying and listing files on a list. Utility programs are generally provided alongside the operating system, but are sometimes bought separately. Many utility commands change with the operating system. Eg. In windows, the copy command is Ctrl + C, but in Mac OSx this changes to Command +C. The major tasks carried out by utility programs are: 1) Disk Formatting (Preparing either laser or hard discs for use) 2) Listing files in directories or folders. 3) Copying files, either from application to application, or within the same application. (Web browsers, word processors) 4) Copying discs 5) Renaming files 6) Backing up files, and also creating OS backups. (Time machine (Mac OSx), Windows Backup) 7) Running a file search in large files or directories Some other major tasks which operating systems often, but not always provide are: 1) File and Disc repair [Check disk, Defragmenter, Disk utility (Mac OSx)] 2) Anti-Virus tools, or malware checkers. (Windows Defender, Mac Cleaner) 3) Web Browser, to surf the internet. This could be standard, purchased, or freeware. (Safari, Internet Explorer) 4) File Compression, to compress files, and make the file size smaller. (Windows File Compression, Mac file Compression) Note: Often, these tools are not given by the Operating System, or are not advanced enough to be completely reliable. In this event, one may need to purchase the software. Eg. Norton Antivirus, Mcafee Antivirus, Mozilla Firefox, Google Chrome, Rockmelt, Winzip, 7-Zip, etc. MACROS: Definition: Macros allow you to automatically record a series of keystrokes, so that the key combination can record those keystrokes when required to do so. They are incredibly useful if you want to automate tasks which take too long to do, time and again, by hand. MACROS are available in most word processing applications, and are easy to use. They can save various things, such as fonts, font sizes, addresses, and even formats. One could create a MACRO that allows one to insert a document header, and footer, in a particular font, by just using two keystrokes. Creating a MACRO in MS Word is incredibly simple. This is how it is done: 1) Click on record MACRO at the bottom of the screen. 2) Give the MACRO a name. 3) Everything you do between turning the recorder on, and off, is recorded. 4) For example, you can insert a header and footer, type out an address, change the font to a particular size, etc. 5) In the status bar, click on stop recording. 6) In newer versions of Word, one must turn on the MACRO recorder in the developer tab, and then do what one wants.
Sunday, October 13, 2019
Quality Of Life, Livelihood And Poverty In Pakistan
Quality Of Life, Livelihood And Poverty In Pakistan Pakistan has been in existence for nearly 64 years and has been evolving ever since. Since the partition, many people lost their livelihoods and had to reconstruct their mode of living from scratch. The refugees faced severe accommodation problems in the beginning resulting in confusion and chaos in early periods of the migration. This instance greatly affected the newly established economy of Pakistan as new businesses initiated and the 1st government had to support these new establishments as well as old settlers in order to accomplish stability and control in the region. This inflow of aid from the managers of the newly established region lacked efficient allocation and as we can assume that no one is fair and greed runs deep within this tough exterior of the skin. There came an income gap between the rich and the poor. Hence the known problem of the developing nations emerged from within, poverty. The quality of life is not the same in Pakistan. It encompasses many varying sects of society which involve different ideologies and perspectives hence different measures of quality. Being agriculture based country; naturally income is not high in the sector; therefore little livelihood and more mouths to feed causes imbalance in the order of things. Lack of resources creates a flutter of panic amongst the people and causes disturbance in the society. This is the quality of life in Pakistan where the rich keep getting richer and the poor keep getting poorer. However Pakistan is trying hard to minimize this gap by undergoing massive policy changes and development expenditures to create more jobs and to be able to educate people to the level of helping to eradicate poverty from this nation. Poverty is like a quicksand, once you set foot in it all your efforts pull you towards it. Development and equal resource allocation is the key to alleviating poverty however it may seem extraordina rily hard but it is not impossible. Historic evolution of different types of poverty Poverty is a state of severe deprivation of basic necessary needs, which includes food, safe drinking water, sanitation facilities, health, shelter, education and information. It is dependent not only on income but also on access to services. It also comprises of lack of income and resources to ensure sustainable livelihoods. Poverty is a multidimensional phenomenon and is not a single line of ants. Rather it is the effect that occurs when you obstruct a single line of ants and they have multidirectional effects. However some may assume the concept of poverty to be one-dimensional. There are advantages and disadvantages to both aspects. One-dimensional approach based on income poverty is relatively simple to use. It encompasses most though not all of the issues around poverty. Multidimensional measures produce a much broader perspective on the complex nature of poverty and a possibly richer array of clues on how poverty can be tackled. By type Poverty is the hand where there is no food, poverty is the mind where theres no thought, it is the hand with no money, it is the land with no order, and poverty is the nature when theres no life. Whenever we think of poverty only the monetary definition comes to mind. Poverty is not only the lack of funds that cast us down to that level when we may be called impoverished, it is not only when one lacks basic necessities but poverty can be of various types. Some poverty types are economic poverty, bodily poverty, mental poverty, food poverty, cultural poverty and political poverty. Economic poverty deals with the fact when one lacks resources or monetary terms that keep them from attaining the basic necessities of life such as food, cloth and shelter. The economic poverty only deals with the linkage of monetary terms and basic necessities. Continuing bodily poverty is when one lacks the physical health status and also is deprived of access to healthy living conditions. Mental poverty deals with the lacks of thought that arises due to poor or no educational standards hence the quality of education. Food poverty is when malnutrition occurs in a society due to lack of food variety and/or demand. Cultural poverty is the lack of togetherness that results in a society and which further separates the relations that hold us together in a community. It is basically the lack of mutual understanding in events and cultural gatherings. Political pov erty is when there is lack of knowledge of how the system works. The basic lacking variable is the knowledge of how to cast a vote and effectively elect a leader. By classification
Saturday, October 12, 2019
Corporate Law Essay -- Business, Free Market
Harmonization of private international law aspects concerning corporations is the best way to resolve the uncertainties surrounding corporate cross-border mobility. Harmonization of substantive laws concerning corporations is, on the other hand, unattainable and undesirable? Discuss in relation to: (i) Regulating company law matters; AND (ii) Regulating their insolvency. 1. Introduction Modern day corporations with their multilateral nature have created their owned corporate governance regime. Proponents argue that this corporation are replacing states and brining their own current in world’s economy especially the free market. Further, with the wave of globalization these firms have established themselves so firmly in the local and cross border markets that are beyond the imagination as to compare to the perception when the idea of company was formally conceived in legislative instrument. The ongoing process of globalization has also provided corporation with profound changes in the way they conduct their business. Today international transactions are not merely exchange of goods with the foreigner as was in the recent past. Now, corporations are involved in every transaction and there are number of agreements and process going in between such transactions. Comparatively there are more complex legal regimes on one hand, and liberty of abolition of national b arriers with great competition. Today, corporations have a number of methods to capture any market around the globe. There are thin line for demarcation of the area of private international law and public international law as both govern the relationship between international person and states or international person with international person or both depending on th... ...ng. [FN9] That is, the con-tracts between shareholders and other constituencies and the constitution between shareholders and managers create appropriate incentives for the value of the firm to be maximised and distributed amongst the various claimants. The need for judicial intervention should be limited to exceptional cases (although the definition of ‘exceptional’ may be debated). Much attention has been paid to the role of contracts in the theory of the firm, but the role of the constitution as a regulator of collective action by shareholders has not been analysed systematically. [FN10] In the section that follows, I initially *422 analyse the role of organisational constitutions in regulating collective action in general terms, having regard to the constitutional economics of James Buchanan and Gordon Tullock. [FN11] I then apply this model to corporations.
Friday, October 11, 2019
Research resources Essay
There are many resources that a student of accounting can refer to enrich his accounting knowledge and arm him/her with useful and practical experience in the accounting field. These materials are available both online and offline both subscribed and unsubscribed. These are online and offline libraries. Questia, an online library of books and journal available at http://www. questia. com/index. jsp, is a site that provides an opportunity to access books, journal and materials for all subjects and topics ranging from arts to science, and from arts to law. These materials are available to an individual upon subscription. They are accessed through the keying of the title or the required article or any phrase in that text. Athens and Amazon. com are other resources that contains rich informative and educative materials. The amazon. com, the site that allows access to useful textbooks and journals is available online at http://www. amazon. com/books-used-books-textbook/b? ie=UTF88node=283155. It is an online company that sells books. Athens is also available online at http://www. athens. ac. uk. Accounting information will be accessed by keying in the relevant topics. The Google scholar too will provide easy access to accounting materials on any trouble-some topic. There are also many textbooks and journals available in the library. New Vistas in Accounting – Vol 1, 2003, a book authored by D. G Prasuna is a textbook that provides a general outline on the major concepts in accounting and their usefulness on understanding the accounting practices and activities. Accountants handbook, volume 1, financial accounting and general topics, 11th edition, edited by D. R. Carmidiael (2007) among other scholars is a conglomeration of witty and remarkable tips on the basics of accounting, the standards an regulations as well the basics of reporting statement. Specific Sources In this research discussion Scofield Barbara (1994) in his article published by the national public accountant, titled:Full Disclosure of Interest Capitalization Decisions, he provides useful insights on the GAAPS standards on interest capitalization, shedding the light on the confusions arising from the requirements in the standards, their appropriateness and their shortcoming. This information is available online at http://www. allbusiness. com/accounting/436577-1html. The IASC foundation education website available at http://www. lasb. org/NR/rdon/yres/189CA297-4D7Epdf has a summary of the IAS regulations. In this case they were specifically touching on borrowing costs then definition and what they generally encompass. www. arthurconsulting. com/financialspecial6. htm, website by the Arthur consulting, Inc on financial analysis, gives useful tips on accounting for the impairment of long lived assets. It gives circumstance and events that are indicators that an asset has impairment as well as the criterion for impairment recognition. An international accounting journal by authors; Street D. L, Nicholas N. B, Gray S. J, titled: Assessing the Acceptability of International Accounting Standards in the U. S. An Empirical Study of the Materiality of U. S GAAP Reconciliations by Non-US companies complying with IASC standards (2000), from this page 22-63 gives a summary of GAAP standards in comparison with other international standards on accounting. It provides information that can help understand accounting standards and practices better. Domestic Accounting Standards,Iinternational Accounting Standards and the Predictability of Earnings (2001), an accounting research journal by Ashbough, Hollis, Pinces and Morton (2001) examines the variations of the various international standards and the accuracy associated with reporting using each standard. Ann Tarca (2004), in the Journal of International Financial Management and Accounting, article titled: International Convergence of Accounting Practices, Choosing between IAS and US GAAP. She samples different reporting by accountants using the different standards: GAPP and IAS and how specific firms prefer one standard over another. William Dorms (2003) in his book Finance and Accounting for Non Financial Managers. He provides all the basics you need to know. He provides an insightful outline of the basics in accounting in the different topics of intermediate accounting focusing especially on financial management and financial statement analysis. Essentials of Managerial Finance: Principle and Practice (1981). It is a large book of 807 pages authored by Steven E. Bolten and Robert Lawrence conn. It gives useful knowledge on the most troublesome on accounting. All the above source although not enough will arm a student with almost all information that he or she requires to gain basic knowledge on principles and practices of accounting. Recommendations A fresh student of intermediate accounting would need to take a glance at reading materials that provide information on the basics of accounting. This will arm him/her with information that will aid in understanding the basic concepts and accounting practices. These books and journals are available on the internet and in our library. Students will need to take detailed notes on these topics they find relevant to their studies. Having a look at the sample and published financial statements by the various firms and multinationals will give a practical hint on the application of this theoretical knowledge and affirm the need for accuracy and consistency in accounting. On specific cases for discussion, a student should ensure that they have conducted enough research for the specific topics. Keying in the title of these topics on the authoritative websites such as Google scholar and Questia will provide vital linkages to a wealth of sources and information. Many students at the introductory stage of accounting have come to me for assistance. I have assisted them by giving them the above information as well as demonstrating to them physically on how to search for information from our library as well as from the electronic journals and libraries. References Scofield Bartara, April 1st 1994. Full disclosure of interest capitalization decisions. The national public accountant. Pg. 1. Accessed on 21/08/07. Available online at http://www/allbusiness. com/accounting/436577. 1html IAS Borrowing Costs. Technical Summary. IASC foundation education. Accessed on 21/08/07. Available online at http://www. iasb. org. NR/rdonlyres/189CA297-4d7E-4826-80bc-3876874AS44/0/1as23pdf Financial analysis, 2002. Accounting for the impairment of long-lived assets. Arthur consulting group, Inc. Accessed on 21/08/07. Available online at http://www. arthurconsulting. com/financialspecial6. htm Ash Baugh, Hollis, Pincees, Morton, Dec. 2001. Domestic accounting standards, international accounting standards, and the predictability of earnings. Journals of accounting research. Blackwell publishing. Financial accounting standards board. Accessed on 21/08/07. Available online at http://www. fash. org.
Thursday, October 10, 2019
A debate over ABC Family Values
The article is based on the analysis of a Walt Disney Company owned ABC TV series;  â€Å"The Secret Life of the American Teenager†and attempts to relate its scenes and theme to the present day common teenage sexual encounters and early pregnancies. The authors attempt to question the shift to programs that are sex based by the ABC TV given that Disney not only has themes, in their view, are out of place on a channel with But â€Å"Secret Life†has the word â€Å"family†in its name but also has  a chaste image (James & Chmielewsk, 2009). By venturing into teenage sex series, Disney which presumably ought to promote family values and fight sex before marriage, appears to have undergone a kind of revolution.The series reportedly show playing on bed, a father enquiring about daughters’ sex life and revelation about a father molesting his son. ABC Family also plans to show a comedy about a young woman rejected by a boyfriend after h aving his baby, keeping in mind that its programs are known to advance youth innocence (James & Chmielewsk, 2009).In a rejoinder however, the Disney-ABC Television Group argues that they are just being genuine and responsive to the life experiences of their audiences in attempt to mirror what is happening in the society (James & Chmielewsk, 2009). However, this comment has generated concern about the paradigm shift from the â€Å"family programming,†to contemporary series despite a sensible reason to appeal to the younger viewers; a situation necessitated by research findings.I think that the â€Å"Sex Lives of the American Teenager†a timely series by ABC owing to the increasing cases of teenage sexual experiences, early pregnancies and child molestation. These, are social ills which contravene Disney’s family values hence the series serve to educate the public. At the same time, ABC has ensured that each episode ends with an advisory that encourages parents a nd children to talk before it's too late, an idea which I believe illustrates the very message that the explicit teenage scenes tend to depict.Reference:James & Chmielewsk. (2009, February 1).A Debate over ABC Family Values. Retrieved February 4, 2009.Available Online:
Working Capital Management of Heidelberg Cement Bangladesh
Working capital management of Heidelberg Cement Bangladesh Limited (HCBL) Executive Summary: In this report we have presented the overall working capital management of Heidelberg Cement Bangladesh Limited (HCBL). We have gather maximum information from the annual reports and by taking interview of Board of Director, M. Abul Hashem; Company Secretary. In this report we have tried to match the terms and conditions that we learned in FIN340 with HCBL’s working capital management. We have done financial analysis and gave recommendation.Company Overview: Heidelberg Cement Bangladesh is one the largest producers of quality cement in Bangladesh. Heidelberg Cement Group from Germany, one of the world’s leaders in construction and building material with operations in more than 50 countries, owns 61% shares of the company. In 1998 Heidelberg Cement Group established its presence in Bangladesh by setting up a floating terminal with on board bagging facilities in the port of Chitta gong and by distributing the cement to the key markets of Dhaka and Chittagong.In 1999 the group further strengthened its position in Bangladesh and built a greenfield manufacturing plant near Dhaka namely â€Å"Scancement International Limited†with an installed capacity of 0. 750 million tons per year. In 2000 Heidelberg Cement group also bought a minority position in Chittagong based company namely â€Å"Chittagong Cement Clinker Griding Co. Limited (CCCGCL)†quickly followed by the acquisition of a in controlling stake. The plant in Chittagong has an installed capacity of 0. 7 million ton per year. In 2003, the two companies were amalgamated and the company’s name was changed to Heidelberg Cement Bangladesh Limited.Corporate Mission: The Corporate Image : Building worldwide growth by building a better world. Business Culture : Building on local responsibility for international success Employee Policy : Building our business on the knowledge of our people Mar ket Strategy : Building our growth on a solid base of earnings Customer Philosophy : Building customer satisfaction Quality Standard : Building on quality products to build reputation Commitment to Innovation : Building on new technologies determines our future successBrief History Heidelberg Cement Bangladesh Limited meets 13% of the Bangladesh demand for cement from two plants located at Dhaka & Chittagong. Heidelberg Cement Bangladesh Limited employs 260 people across the country. The company with 1. 5 million tones annual cement production has become a major force in the Bangladesh Cement industry over the last eight years. In Bangladesh, Heidelberg group is one of the largest foreign investors having an investment of 100 million US$ with more than 260 employees working round the clock to materialize the mission of this great global company.By satisfying the needs and aspirations of its customers, employees, shareholders and the wider community, the company is able to maintain i ts position of strength as a sustainable cement provider without compromising commitment to long term stability and environmental responsibility. Heidelberg Cement Bangladesh Limited is a sister concern of Heidelberg Cement Group. Environmental Policy Heidelberg Cement Bangladesh Limited Protection of the environment is an integral part of Heidelberg Cement Group’s strategy. As natural resources are the basis of cement, measures for sustainable environmental care are adopted in all our operations.In Bangladesh, our policy is to produce high quality cement, optimize operations to save on natural resources and prevent pollution in order to create a cleaner and safer environment. Products & Innovation Portland Composite Cement (PCC) As part of its relentless pursuit for innovation and constant drive to improve quality, HeidelbergCement has introduced Portland Composite Cement (PCC) during 2003. Absorbing European Norms in cement producing made HeidelbergCement Bangladesh Ltd. th e pioneer in this sector. Now-a-days all the cement factories of Bangladesh are producing cement as per European Norm.The category Portland Composite Cement (CEM II) is the market leader in Europe. Cement produced according to the BDS EN ScanCement and RubyCement are designed to achieve the best characteristics for its customers; this result is achieved by design using clinker and high quality other constituents. PCC has the optimum of: Durability, Long-term strength and workability. ScanCement and RubyCement are produced according to the European norms BDS EN 197-1:2003. Characteristics of ScanCement / RubyCement: Higher Strength ScanCement and RubyCement have higher long-term strength than a standard Portland Cement (OPC).The slag part in the design contributes that the gap in long-term strength with OPC is widening as time progresses. Higher Durability The design of ScanCement and RubyCement increases the density of concrete (lower permeability). Smaller voids are the effect of t he reaction between the clinker and the slag. This density contributes to the durability and lifetime of the construction. Better Workability To improve the quality of plaster and masonry work Limestone is added to the design of ScanCement and RubyCement. This improves strongly the workability of the concrete. Plastering will look smoother, better and more beautiful.The concrete is easier to use. Other Improvements On top of the above-mentioned improvements ScanCement and RubyCement reduces thermal cracking. Due to the slag in the design less heat is generated which reduces the risk of thermal cracks. Furthermore our brands use less water to achieve the required workability. This contributes to the strength and quality of the construction. Daily Cash Inflow and Cash Outflow: Here we have presented the daily cash inflow and outflow of HCBL. 200820072006 Cash received from customers6,332,191,0005,573,231,0004,963,425,000 Cash received from other operating income84,205,00049,963,00014, 630,000Cash Inflow throughout the year6,416,396,000. 00 5,623,194,000. 00 4,978,055,000. 00 Daily Cash Inflow17,579,167. 12 15,406,010. 96 13,638,506. 85 200820072006 Payment for financial expense(68,293,000)(55,096,000)(96,760,000) Income tax paid(206,802,000)(96,947,000)(35,495,000) Cash paid to suppliers(5,480,284,000)(3,835,873,000)(3,334,740,000) Cash paid for operating expenses(628,326,000)(507,571,000)(501,761,000) Cash outflow through out the year(6,383,702,992. 00)(4,495,484,993. 00)(3,968,753,994. 00) Daily Cash outflow(17,489,597. 24)(12,316,397. 24)(10,873,298. 1) Net Daily Cash Inflow89,569. 883,089,613. 722,765,208. 24 Cash inflows and outflows are not perfectly synchronized. Here we have net cash inflows in 3 years; it shows that HCBL had sufficient money supply to finance its operation efficiently. Changes in Short Term Loan Account: The HCBL don’t have any marketable securities account in balance sheet. In 2006 the company has a short term loan of 467884000 a nd in 2007 & 2008 the company has short term loans of 654441000 & 829715000. From 2006 to 2007 there is an increase in Short term loan account of tk. 186557000.And from 2007 to 2008 the short term loan has increase by Tk. 175274000. Over the period the short term loan has increased over the period. The loans were mainly taken from their sister concern Meghna Energy Limited. Seasonality impact in Cash Inflow and Cash Outflow: Seasonality Variations in Cash flows from sales: Highest sales: We have come to know from our interview that there is seasonality is present in Heidelberg cement. Their peak in sales and variation in cash flow is approximately quarterly basis. It has peak of the sales during January to March. In this time they have to maintain large inventory.At these time their sales increase, as a result gross profit and revenue increase and cash inflow also increases in this 1st quarter. They have also good sales from October to April. Normal cash inflow comes during this tim e. From May to September their sales usually decrease because of rainy season. Cash Outflow: When sales increase marketing and transportation expenses increase. As a result, cash outflow increases at this time. As raw materials are mainly imported from there inter company trade that’s why they don’t have to pay immediately a huge money when they import RM. They get a flexible credit term.Geographical Spread and Customers: Heidelberg Cement has divided their business in 6 divisions in Bangladesh. They have two main branches in Dhaka and Chittagong. They have also sales agents in other four divisions. But most of the sales generate from Dhaka and Chittagong divisions. Then Sylhet and sales in other 3 divisions are approximately same. They do not have any physical export of goods. If they sell goods to EPZ area and if they get paid in dollars, this is termed as export. The over all market share of Heidelberg Cement is 13%. The industry saturated. Still they have chance to gather more market share in the industry.They are facing some restriction because they are multinational company. They have 3 types of customers: 1. Dealers 2. Corporate customers (e. g. developers, contractors) 3. Government projects (e. g. Mohakhali Flyover, Lalon Shah Bridge, Karnafuli Bridge, Banani Bridge) Except these they have also very few retailers who are very close to them. But usually they do not deal with retailers. Collection Procedure: Checks/pay order: Most of the time, they receive payments through checks. They also receive payments by pay order which is very limited. Generally, they do not allow any other ways of payments.They don’t have any cash transaction. Collection Points , Concentration Banks, Deposit banks, Lock Box: There are collection points. The customers pay through the local branches of Dhaka Bank, Dutch Bangla Bank and Marcentile Bank. These banks work as collection points. As these local banks have lots of branches in Bangladesh it helps a lo t in collection process. Through the online banking system the money from these local Banks are easily accessible from the principal branch. Then Heidelberg cement collects money from these banks and deposited in the Standard Charted Bank and Citi N.A bank. 95% of collected money is deposited in Standard Charted Bank and rest of the 5% is deposited in City N. A. bank are. Here Standard Charted Bank and Citi N. A. bank are used as concentration banks. They transfer the money from the collection bank at the end of the month whether the money is collected at 1st week of the month. Because they have ample money in hand they are lazy to transfer the money at concentration banks. But they are very efficient in collecting the money from customers in due date. Because of having no lockbox system in Bangladesh, they do not use lockbox system.As there group policy they have restriction on depositing money in local banks. The local banks are usually responsible for collecting payments. Cost: I n standard chartered and Citi N. A the service charge is little higher than the service charge taken by other banks. Banks are responsible for disbursing payments, handling LC, payment of salary etc. There is very low risk, because they follow some strict laws like: †¢They do not give dealership without bank guarantee. †¢They follow conservative credit policy. †¢They encourage cash sales. On an average their credit term is of 18-20 days.In government projects their credit term is usually flexible. Cash Disbursement Procedure: Suppliers: There are mainly two groups who receive money from the Heidelberg cement. One is the Raw material suppliers and then another is the suppliers of different utilities. The raw material suppliers are mainly the subsidiary of Heidelberg Group. Generally they take raw materials from Indo Cement; Indonesia, Heidelberg Cement; India and Heidelberg Cement; Japan. Payment Methods, Disbursement Banks: They are mainly importing raw materials. So they pay through LC. They do not have any cash payments.They pay through Standard Charted Bank. The Standard Charted Bank works as disbursement bank and processes all the formalities. Sometimes Citi N. A also works as a disbursement bank. Authorization: They follow centralized Disbursement policy. All checks are signed in the Head quarter. Payments are made through mainly finance department. If the payment is less than $6 million, it needs the joint signature of head of finance department and in group B consist of three directors from them any one have to sign. But if payments exceed $6 million it needs joint signature of finance department and Manager Director.Float: Although directly they do not take the help of floating, sometimes they try to write check on Wednesday/Thursday. As a result, payments can not be transferred to suppliers Banks before Sunday. In directly they are taking the advantage of inefficient banking system in Bangladesh. Credit Policy: Normally they have a cons ervative credit policy. They are not willing to flexible their credit policies to increase their sales & revenue. They cannot provide smooth credit policy, because as a MNC they cannot collect payments by pressure. Also they have to maintain some Government rules and regulations.They usually emphasize on quality, as a result they maintain premium price. They have to go by the law. That’s why they are not investing that much in A/R. They are not willing to increase the risk. When collecting payments, they give two warnings after exceeding the credit limit. If they fail to collect payment despite these, then they realize the bank guarantee. They provide up to 60 => days of credit limit to Government Projects, 30 days to corporate customers. But they maintain more strict credit policy to the dealers, because of reliability. They give credit to the dealers only if they can give bank guarantee.Only to the renowned developer’s they sale on credit. They have credit term on av erage of 18-20 days. Working Capital Needs: They are very efficient in cash management. That is why they have enough cash to finance working capital. Also they have huge idle money. They cannot deposit all portions of money in banks. As a result, they finance the working capital requirements by internal sources. Sometimes they also take loan from the subsidiaries of Heidelberg group. They took loan from Meghna Energy Limited which is the subsidiary of Heidelberg group too. But at resent (2009-2010) they are not taking any short term loan. As they are multinational company they can not remit money in parent company without the help of dividends. So every year they are having huge retained earnings in their account. With that money they are financing their short term needs. Also with the help of high tech softwares they had become more efficient in managing the business. They are remitting money as technical know how fees which is 3% of prior years net sales. Heidelberg group helps a lot to their subsidiary in terms of technology, experience etc.As they are more capable of internal financing in 2008 they don’t have any long-term loans. Collection Method (#9): HCBL has some Paper information flow attached to invoice. This attachment contains the Order size, order no, time of delivery and the date of payment. The payment is made to the Collection Bank and the dealers get the receipt from the bank. Because the checks are account payee checks, so they can easily track which customer paid the payment. The company by the time get knows about the payment by ERP software which is connected with Banks.The bank process the payment system and it takes a little time for the company to get notified and deposited because all party are connected through ERP software. Bank processing fees are the cost involved in this Process. If the payment is not made by the dealers they realized the bank guarantee after giving two warnings. Basically Credit policy for Government proje cts are flexible than the usual customers. Electronic Method for Managing HCBL: ERP: Heidelberg Cement Bangladesh Ltd. (HCBL) use an Enterprise application software named Enterprise Resource Planning(ERP) which has a market price of almost Tk. 0,000,000-Tk. 30,000,000 (2-3 crore TK. ). They have got this software in one sense free initially. But they are paying off these fees as â€Å"technical r knowhow fees†in every year which is 3% of prior years net sal . This software Provide a single information system for organization-wide coordination and integration of key business processes. This is a competitive advantage for Heidelberg cement. ERP connects all key business process (e. g. – manufacturing and production, accounting and finance, human resources, sales and marketing) and connects the suppliers & Dealers together in a single place.By this all department can share information which helps business increase efficiency or evaluates their output. 1. ERP also enables to Ordering equipment, preparing inventory, sending them to sites, activating them followed by routine maintenance is a chain of daunting tasks. If there is a missing link in this extremely complex process, they will be out of business in the fiercely competitive market. Earlier it took nearly thirty minutes to generate a purchase order but now it takes a few seconds. The entire process is flawless and tamperproof as a robust computer controls it centrally.Heidelberg Cement has deployed two such servers in different locations to ensure that one takes over in case the other computer fails. They can track every employee’s output and assess them accordingly. It perfects the evaluation process of the company’s human capital. By using ERP, Efficiency of Heidelberg’s employees increased 99 percent. ERP maximize profit and minimize costs, while providing superior service to its customers. Advantages of ERP: †¢ERP is software which integrates all functionalities o f the organization in a single database.It streamlines all the business processes and gives desired result on a click of a button. †¢ERP software incorporates a large amount of industry specific business functionalities which will ensure less customization or sometime no customization (except reports) to make the package suitable to your business operations. †¢Most important advantage of ERP software is integration of all the business solution in a single platform, which reduces unnecessary paper work, documentation, repeated entry, cycle time etc. The software also comes with its framework of upgrades to changing technologies. In the ERP software business functionalities and operating processes are built into standard software codes, thus it require lesser time to understand process related issue of implementation and gives industry specific best practices. †¢ERP can be useful is order tracking. When a company receives orders for a product, being able to properly tra ck the orders can allow the company to get detailed information on their customers and marketing strategies. If different software packages are being used, this data may not be consistent. †¢ERP software automates the business processes and also forces its own logic (industry specific) on the business. Accounting applications is another advantage of ERP. It can integrate the costing, profit, and revenue information of sales that are made etc. Other Advantages : †¢Speeding up the whole manufacturing process †¢Better and systematic inventory handling with ABC analysis †¢WIP (work in progress) control †¢Easy project management †¢Accessing the status of the goods on a click of a button †¢Fast transmit commodities through online transactions †¢Fastens the creation of reports †¢Reduce paper works and repeated entry †¢Quick processing of information †¢Serving the customer efficiently in time †¢Solve the customer problem quickly In formation based decision †¢Better finance reports †¢Better supply chain management †¢Better vendor management †¢Reduce process cycle time Disadvantages of ERP: †¢Perhaps one of the biggest disadvantages to this technology is the cost. As the company is an MNC they get this software for free. They are paying off this cost as â€Å"Technical Knowhow Fees†throughout the years. †¢Expert needed to run the ERP system. The employees must be continually trained on how to use it, and it is also important for companies to make sure the integrity of the data is protected. The success of the system is fully dependent on how the workers utilize it. Even if a company has enough money to implement ERP, they may not be able to successfully use it if they do not have enough money to train their workers on the process of using it. †¢One of the biggest problems with ERP is that it is hard to customize. Very few companies can effectively use ERP right out of t he box. It must be modified to suit their needs, and this process can be both expensive and tedious. †¢Most ERP vendors will not allow the structure of the software to be altered. ERP vendors may charge additional license fees, putting a strain on companies that do not have enough resources to pay for them.The technical support of ERP departments has been questioned, and a number of problems could arise due to security, since corporate representatives must give sensitive information to the tech support department. ERP inventory management: ERP inventory management handles everything from ordering, physical inventory count, scheduling, shipping, receiving, purchasing, and supply chain planning. Changes in inventory are automatically updated. It no longer takes hours (sometimes up to 24) before the changes are recorded. This helps inventory management employees of HCBL to be able to see if an item is currently in stock.Faster service means better customer service. HCBL ERP manage ment uses bar codes to keep up with inventory items. This makes tracking stock much easier. As the bar-coded items leave inventory, they get scanned and their product information is entered into the ERP inventory management system. Placing bar code labels on stock helps HCBL save money because it keeps the list of stock updated. Employees can easily see when certain quantities are low and need to be re-stocked. Customer service also benefits from this because businesses and customers can see what products are immediately available.Advantages : ERP inventory management has many advantages. The main advantage for a company is that the ERP system is company-wide and involves only one software system. Some other advantages include: †¢Proper communication between different areas. †¢Tracking of orders from the time the order was received to its delivery. †¢Keeping up with the revenue cycle from when the invoice is issue through when the payment is received. †¢Provides a ‘top down’ overview of the workings of a company. †¢Reduces the risk of loss of information †¢Sets up a form of security to protect against theft from outside or within a company.Disadvantages : Despite the advantages HCBL receive from using ERP inventory management, there are also some problems with it. Most of these disadvantages stem from inadequately trained employees as well as compromised data. But there are other concerns that can arise from this type of system. †¢Reformatting a business to make it more compatible with an ERP system and thus conform it to industry standards may cause a loss of advantage over the competition. †¢By creating a company-wide system that connects all areas, it makes it hard to figure out accountability. Problems that may arise in one area could mistakenly be blamed on a different area. Not all departments in a company are willing to share information. This withholding of sensitive data can interrupt the workflow. †¢ERP inventory management systems may to too complex for the needs of a company. Cash Flow Timeline: Here we have showed the cash flow timeline of HCBL of 2006,2007,2008 Financial Analysis: Financial analysis of Heidelberg Cement Ltd. Liquidity Ratio200620072008 NWC to assets-0. 050. 010. 11 current ratio0. 871. 031. 27 quick ratio0. 480. 710. 66 cash ratio0. 060. 400. 32 interval measure851. 401637. 281499. 92 CCC-1. 26-17. 9936. 53 Days Inventory held57. 5256. 03103. 14 DSO37. 8037. 5635. 02 Operating Cycle95. 293. 59138. 16 DPO96. 59111. 57101. 63 NWC-208822000. 0064703000. 00638679000. 00 NLB46997000. 00800973000. 00768453000. 00 CLI27. 5639. 40 Efficiency Ratio Total asset turnover1. 211. 091. 08 NWC turnover-23. 9686. 889. 97 Inventory turnover6. 356. 513. 54 Day’s sales in inventory57. 5256. 03103. 14 AVG collection period37. 837. 5635. 02 Profitability ratio net profit margin0. 10. 110. 09 ROA0. 130. 120. 1 ROE0. 220. 220. 18 payout ratio0. 170. 230. 31 Market V alue Ratio price earning ratio6. 6810. 9511. 58 Earning per share96. 92110104. 86 From 2006 to 2007 their operating cycle decreased and DPO increased significantly.When their DPO was increasing it does not create any problem in relation with the suppliers. Because the suppliers are mainly the subsidiary of the hiedelberg group. So they got advantage in those years. And that is why the company’s CCC decreased in 2007. In 2006 and 2007 the company’s CCC were negative and it was -1. 26 and -17. 99 days respectively, that means the company doesn’t need any external financing. They were very efficient in managing the cash. So that without investing in Inventories and A/R they were efficiently running the operation. Although they had sufficient cash in their hand.From2007-2008 the company’s Operating cycle increased significantly and DPO decreased slightly. As a result in 2008 the company’s CCC increased to 36. 53 days. This increase was a result of a hi gh Days inventory Held (103. 14 days). In 2008 they brought a very high amount of inventory from their sister concern company from Indonesia named Indocement. so the company need financing from somewhere. They have sufficient amount of cash and from that liquid cash the company was financing their operation. They don’t need any external financing for that time lag. They mostly depend on internal financing.As they are subsidiary of Heidelberg group they get lots of facilities in many areas. This is their competitive advantage. By net liquid balance we can cover the working capital requirements. As past years shows that the company’s NLB is growing, so it is a good sign for the company to run its day to day business. For many years they were not facing any kind of liquidity problem. In 2007-2008 the CLI was increasing. And it is positive number. CLI represents the Cash against to cover it’s the current liabilities. The CLI for past year shows that the company has high CLI; this means the company has ample cash to cover its current debts.The company has a positive and a high amount of net working capital. This means some of Company’s Current assets were financed by the long term sources of fund. Here the company has not that much long term loan in 2006-2007 period compared to its short term loan and there were no long term loan in 2008, they paid off all of their long term loans in 2008. The Excess liquidity of the company was financing their day to day business. From the time period of 2006 to 2008 the company’s current ratio has improved over the period And the company’s quick ratio improved from 2006 to 2007.Total asset turnover, NWC turnover and inventory turnover is on average much better and Day’s sales in inventory is acceptable. Average collection period is lower which is a good indicator for the company. Therefore, the efficiency level of the company is really good. Profit margin, ROA and ROE tells that, t his is a dream company at cement sector. All these three ratios are high over the period. Payout ratio tells that the company does give regular dividend. For this company, P/E ratio is very much high compare to its industry. It has also a high EPS.Overall, the company has a good market book ratios and it indicates that investors are very much interested to invest to this firm. It is the highest valued share than any other company in the cement industry. We take sales growth rate as the growth rate. Company’s growth rate, 13% is much lowers the industry growth rate, 47. 84%. It proves that other companies are capturing the growing market. Free cash flow of the company is getting higher and higher day by day, so they have enough free cash to invest and meeting current liability. HCBL’s cash flow from operation is also impressive.Problems and Recommendation: This problems and recommendations are based on the statements of year ended 2006, 2007 and 2008. At present 2009 th ey have done some improvements. Too much idle cash : They have too much idle cash because of their efficiency and working capital management, conservative collection procedure and mainly they are remitting less money in parent company through dividends. They were keeping lots of retained earnings in Bangladesh and not investing in new project. Also in 2008 they had decrease in net cash flow but because of opening balance in cash the closing balance showed a huge number.This proves that they had huge idle cash. The analysis will show the more clear picture. 200620072008Average Net cash (decrease) / increase during th eyear71,339,000759,976,000(82,749,000) Opening Balance19,888,00091,227,000851,203,000 Closing Balance91,227,000851,203,000768,454,000 Number of shares5,381,2955,650,3605,650,360 EPS97110105 TOTAL CASH AVAILABLE PER SHARE16. 95150. 65136. 00 Cash Dividend per share162533 Average Net Cash Remain After Dividend per share0. 95125. 65103. 0077 Cash Remain After Dividend512627 6709944000581992120432354132 Net cash remain per share after EPS81857279 Cash remain after EPS435884914. 480280600406825920440997145 This analysis clearly shows that on an average this company retained 77 taka per share per year in this 3 years. On an average they have sufficient cash per year 432354132 Taka. They should invest this huge idle fund in any value added project or if there is no any scope they can remit this money by giving more cash dividends. By giving cash dividend more they can add more value to their parent company. In 2010 they have declared that they are using their own fund of Tk. 1260 million to expand their production by double in chittagong factory. Aggressive Marketing and Market share :The market is saturated and still HCBL has chance to increase their market share. Because local cement companies are growing day by day because of low pricing. HCBL stands on high quality and price leadership. They can do more aggressive marketing to increase their sales and increase market share. Conservative Credit Policy : HCBL’s credit policy is not very flexible. They don’t encourage credit sales to increase their sales. They don’t want to increase the risk of credit. As they are MNC and face legal bindings in collecting if customers don’t pay. They have huge idle fund to finance their A/R but they are not doing this.In this saturated market they have the scope to increase sales but they are not attempting for it. They are not willing to take risk. But in business you have to take risk and HIGH RISK means HIGH CHANCE OF RETURN. They should make more flexible credit policy to increase their sales and to gain more market share. By increasing sales they can also remit more money by â€Å"Tech know how fee†Other Recommendations: †¢They can give more focus on Ruby cement. They are giving mainly focus on Scan cement. †¢They can do more CSR activities as they have ample money. This CSR activities will increase their goodwill. They can train more their maximum employees to operate the ERP software to smoothing the process more. †¢They can give all the employees the option of PROFIT SHARING this will motivate the employees to work hard. Secrecy of Price Sensitive Information: When we took the interview at April 12, 2010 from one of their employees we came to know that their EPS of 2009 is Tk. 151. 00 and cash dividend would be 38%. Although board meeting held at April 13, 2010 and the price sensitive information published in DSE website at April 15, 2010. If the employees declared this kind of information before Board meeting it’s illegal and unethical.The employees should not publish price sensitive information privately before it published publicly. Why Not Recommendation About High Inventory In 2008 : In normal view one will recommend at 2008 that why they stocked huge inventory and which in turn cost them less CFFO and net decrease in cash . They had huge idle balance thatà ¢â‚¬â„¢s why they stocked inventory. But the real reason is opened at 2010. Cement industry was in recession in 2008. Also Heidelberg Group faced Recession in 2008. But HCBL did not face any recession in 2008. where in this industry other firms showed a huge decrease in EPS.But they maintained EPS of 105, which is extraordinary. They import RM from their sister concern at a cheap rate. That’s why they maintained a high EPS . The Cement industry at 2008 perfectly anticipated that the price of RM will go up in 2009. that’s why many company stocked inventory in 2008 also HCBL did this. We can prove our argument by that in 2009 most cement producers EPS has increased by almost 400% and HCBL’s EPS also increased in 2009. In this saturated market wvery company can not make huge profit than previous year only by selling more cement. This EPS also the result of stocked inventory in 2008.That’s why we did not recommend to reduce inventory in 2008. Conclusion: HCBL is doing well in working capital management but they have huge idle money that’s why they are not giving that much of emphasis in managing their capital more efficiently. As they are the subsidiary of Heidelberg group they maintain maximum modern policy of collecting and disbursing cash. They get many competitive advantages as Heidelberg group helps them a lot with technology. They mainly trade with their sister concerns. HCBL is the leading company in the cement industry. But they have to think about managing the idle money to add value to HCBL.
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