It is Time for Punishment free essay sample

Since the time the oar was expelled from the rundown of lawful disciplines in state funded schools, they have begun utilizing confinement. This requires an understudy to remove time from his/her day and spend it disconnected in a study hall. The inquiry for some responsible for discipline is, â€Å"When is the best an ideal opportunity to have detention?† Schools have attempted in school suspension, after school detainment, and lunch confinement to changing degrees of progress. A progressively fruitful system is have understudies serve detainment on Saturdays. A teenager’s most loved day of the week is Saturday. On Saturday, understudies go to ball games, the films, dates etc†¦ Most schools hold detainment during an ordinary school day, where the understudy leaves classes and goes to sit in another study hall. Numerous understudies call this discipline time â€Å"sleep time.† They escape class for a while and as a rule just sits in detainment for an hour or somewhere in the vicinity. We will compose a custom paper test on It is Time for Punishment or on the other hand any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page On the off chance that schools began having confinement on Saturday, the understudies would miss this available time. Rather than the understudy setting off to a gathering or different exercises, they would need to go to class and serve detainment. Exploration shows that confinement on Saturdays is best. Guardians can now and again be a child’s most noticeably terrible adversary throughout everyday life, in this way, when school slave drivers carry guardians into the condition, the understudy gets rebuffed at home and at school. On the off chance that an understudy needs to serve detainment on Saturday, not exclusively does the understudy need to surrender some portion of his/her day, yet the guardians may likewise need to surrender their chance to take the understudy to class. Saturday detainment additionally meddles with family outings to the lake, sea shore, Dollywood†¦ After different offenses, the grown-up, will in the end become weary of losing their Saturday and begin rebuffing their kid at home also. Following five days of getting up right on time, we understudies have one day to snooze, accepting that we go to chapel on Sunday. Saturday at long last comes, and we get the opportunity to snooze. Presently, in the event that schools start to have detainment on Saturdays, at that point there goes the additional snooze time. At the point when young people are denied of their lone additional rest time, at that point they start to consider whether getting in a difficult situation is justified, despite all the trouble or not. By having detainment on Saturdays, understudies will lose their additional rest, their free day, and will disturb their folks by making them remove time from their day to take them to class. This is an extremely successful discipline and ought to be set up as quickly as time permits. OK need to lose your Saturday?

Activity Based Costing †Glaser Health Products Case Essay

Presentation Glaser Health Products fabricates clinical things for the social insurance industry. Creation includes machining, gathering and painting. Completed units are then pressed and sent. The money related controller is intrigued to present an action based costing (ABC) framework to designate (or disseminate) roundabout expenses to items. Aberrant expenses, as unmistakable from direct expenses, can't be unambiguously connected to explicit items. The controller might want to ascertain item costs dependent on ABC for arranging and control, not stock valuation. Under an ABC framework, the portion of expenses to items is accomplished through in any event four explanatory advances. Initially, costs are assembled into movement levels. Furthermore, cost drivers are chosen for every movement level to connect exercises with costs. Thirdly, for every movement level, a cost work is characterized to mathematically depict the connection between cost drivers and expenses. At long last, a unit designated cost is determined for every item (Schneider, 2012). This paper plots a procedure for presenting an ABC framework at Glaser. The paper is isolated into six areas. The main segment bunches cost classes recognized at Glaser by division. The subsequent segment bunches cost classifications by division and movement level. The third area distinguishes explicit cost drivers for every movement level. The fourth area clarifies primer stage portion. The fifth area clarifies essential stage allotment. The last area sums up the principle ends. Cost Categories by Division Glaser is composed into three useful divisions †Operations, Sales, and Administration. Tasks is the main expense or movement focus. Glaser perceives 22 cost classes. These cost classes are assembled by division in Table 1, appeared in the index. Cost Categories by Division by Activity Level The second step in an ABC framework includes gathering costs dependent fair and square of action at which they are produced. An action includes the development or treatment of any part, segment, or completed item inside the applicable authoritative unit. The method of reasoning for this gathering is that costs at every action level are dictated by various cost drivers. Four degrees of movement are usually perceived †unit, group, item and office level. Unit-level exercises are the most granular degree of action. They are played out each time a sub-unit is delivered. Unit-level exercises are on-proceeding to reflect essential creation undertakings. Direct work or direct materials are models. Expenses of these exercises for the most part change as indicated by the quantity of units delivered. Clump level exercises are pertinent to bunch (instead of consistent) creation forms. They are played out each time a clump of item sub-units is delivered. Common instances of these expenses identify with machine arrangements, request handling, and materials hanâ ¬dling. Expenses of these exercises shift basically as indicated by the quantity of groups created, not the quantity of units in each the cluster. Item level exercises bolster creation of every item. The expenses of these exercises shift essentially as indicated by the quantity of isolated item models. Models incorporate keeping up bills of materials, handling building changes, and item testing schedules. Office level exercises are basic to a wide range of items and are the most hard to connection to singular item explicit exercises. These exercises continue the creation procedure at a general creation plant or facilâ ¬ity. Models incorporate plant management, rental cost and other structure inhabitance costs. A few firms, including Glaser, decide not to designate office level expenses to item costs. In view of these movement level differentiations, the 22 Glaser cost classes might be assembled by division and action level as appeared in Table 2. By method of straying, it merits referencing that as a wide speculation, unit-level exercises will in general produce for the most part factor costs while and office level exercises will in general create basically fixed expenses, in spite of the fact that there can be special cases. Exercises in the other two movement levels will in general produce a blend of variable and fixed (Hansen and Mowen, 2006). Cost Drivers by Activity Level by Division Cost drivers can be recognized for every movement or cost classification dependent on perception, conversations with the executives, recreations and measurable investigations. The key is to decide the conduct of circuitous expenses regarding action or asset use in every action place (Leslie, 2009). These endeavors have recognized the eight cost drivers appeared in Table 3. Directâ labor get together expenses are, by their temperament, legitimately recognizable to singular items. In this manner the significant cost driver for this expense is the quantity of Direct Assembly Labor Hours. The other 21 cost classes are backhanded expenses. At the unit movement level, power get together expenses are probably going to fluctuate with Direct Labor Hours, Assembly. Correspondingly, the three machining costs assembled at the unit-action level are probably going to fluctuate with by the quantity of Direct Labor Hours, Machining. Furthermore, at the group action level, paint cost is probably goi ng to fluctuate for the most part with the Number of Batches Processed. Painting movement is the main clump action at Glaser. Thirdly, at the item movement level, the two Operations costs are probably going to differ essentially with the Number of Units Produced and the three Sales costs are additionally prone to fluctuate basically with the Number of Units Produced. At long last, at the office level, the five Operations costs are probably going to fluctuate principally with the Number of Units Produced, the Square Feet of Building Space Used, Payroll Costs, the Number of Employees, and the Change in Number of Employees. The three Sales costs are likewise prone to shift chiefly with the Number of Employees. The three Administration costs are probably going to fluctuate primarily with the Number of Employees, the Change in Number of Employees and the quantity of Square Feet of Space Used. In outline, eight separate cost drivers might be utilized by Glaser to interface exercises with roundabout expenses lastly dispense those expenses to singular items. These cost drivers are summed up by movement level by div ision in Table 3. Primer Stage Allocation Direct expenses can be connected quickly to an item without the requirement for a cost driver. This isn't valid for aberrant expenses. A backhanded expense requires a cost driver to interface that cost with an action lastly an item (Kimmel, et. al., 2010, Chapter 5). The initial phase in allotting aberrant expenses to items is to finished a primer stage assignment. This includes apportioning the help place expenses to the movement habitats. On account of Glaser, there is just a single action place, Operations. The Glaser controller has concluded that the ABC framework executed at Glaser ought to distribute all circuitous cost classifications to items aside from the three Sales and three Administration classifications delegated office level expenses. The main non-action focus costs that should be doled out are the three item level Sales division costs. This distribution may best be demonstratedâ with a model as summed up by Table 4 gave in the index. The table expect Glaser produces two items, An and B, with 30,000 units of every item delivered during the period. It additionally accept that item level Sales division costs all out $300,000. Assignment of these non-movement focus costs bring about unit expenses of $5 for Product An and $5 for Product B. These unit costs are indistinguishable at $5 on the grounds that the quantity of units delivered is equivalent at 30,000 units for Product An and 30,000 units for Product B. These non-movement focus unit costs should be added to unit costs got from the essential stage assignment. Essential Stage Allocation In the essential stage allotment, action focus (that is, Operations division) costs are allocated to every one of the two items. In the model summed up by Table 5, the 13 costs alloted to Operations totaled $2,041,000. Distribution of these costs dependent on the different cost drivers brings about unit expenses of $40.60 for Product An and $27.43 for Product B. Once the $5 non-action focus unit cost is added to every item, the all out designated unit cost is $45.60 and $32.43 for Product An and B individually. Ends Bookkeeping gives data about the monetary wellbeing of a firm. That data is utilized by an assortment of partners and other invested individuals including chiefs, speculators, venture investigators, representatives, providers, clients, budgetary columnists, and controllers. At the broadest level, the data is utilized to improve asset portion. ABC is a genuine case of bookkeeping information being utilized to raise asset effectiveness. ABC permits the executives to deliberately distinguish exercises and assets used to deliver an item. The framework circulates circuitous expenses to singular items and in that manner improves item costing and evaluating which eventually influences purchasing choices by shoppers and speculation choices by the executives and financial specialists (Edmonds and McNair, 2012). At last, the Glaser controller concluded that the ABC framework at Glaser won't apportion all circuitous cost classes to items. The three Sales and three Administration division cost classifications delegated office level expenses are prohibited from the allotment procedure. To that degree, costs are not completely disperse or apportioned to items. The avoided deals and Organization costs must be perceived at some phase during the item value setting process in any case those costs won't be recuperated by the resultant item costs. References Edmonds, T.; Olds, P. and McNair, F. (2012). Major money related bookkeeping ideas. Ignite Edition. Hansen, D. R. and Mowen, M. M. (2006). Cost the executives bookkeeping and control. Ohio: Thomas South-Western. Kimmel, P.D., Weygandt, J.J. and Kelso, D.E. (2010). Budgetary bookkeeping: Tools for business dynamic (fifth ed.

EA Deadline

EA Deadline The postmark/submission deadline for Early Action is tonight! How is everyone doing? Not too stressed out, I hope? While youre working on finishing the application, were working on filing the applications. Today, the Admissions Officers had a mail opening party. In reality, it wasnt much of a party, but the title at least made the task of opening envelopes seem more fun. We are now receiving a deluge of mail each day, buckets upon buckets of pieces of your applications to be opened, sorted, and filed. The process of receiving your applications takes time. First, for the pieces that come via snail mail, we have to open the envelopes, make sure that the different pieces are stapled together, make sure everything has your name and birthdate on it, etc. Then, each application piece has to be entered into the database and tracking system. Next, things are alphabetized, and then entered into the application folder. Only after your folder is complete do we run an admissions summary card and send your entire case to the admissions staff for review. At peak times, it can take a week or more to complete all of these steps. The mail is also slow, so please allow upwards of two weeks from the time an application piece is mailed to the time that it appears on your tracking system. It is also important to note that we do not need to have your scores in our hands by the deadline. In fact, we will accept scores from this weekends SAT administration (Nov. 4) for Early Action. If you have taken October of November tests, dont worry about not being able to list these scores on your Part 2. I assure you that we will receive these scores, and then will use your best scores. Also, please note that you should not rush scores to us. We will receive your scores in plenty of time to be considered for early action decisions if you send them to us via the normal method. We will continue to accept pieces of your application even after the deadline. So, dont worry if your teacher hasnt yet sent their recommendation yet (though encourage them to do so as soon as possible!), or if your interviewer hasnt yet met with you (though, again, do so as soon as possible). And, if you need to send us an update, we can also accept it after the deadline. For those of you who have already submitted your application, how are you spending your deadline night? And, for those of you working to submit your application tonight, how is it going? I wish you all the best!

Possibly the Most Well Known Female Novelist on Earth,...

Austen is possibly the most well known and widely referred female novelist on earth. She wrote many books we know today. Jane novels include books like ‘Emma’, ‘Pride and Prejudice’ and many more from her 10 book collection. Jane have got many awards that she got for her wonderful writing and how we became to know her today(1). Jane Austen was born in Steventon Rectory, Hampshire, England on December 16, 1775(1). Jane was the youngest of 9 siblings. Jane never got married and never had kids. Do to all her siblings having kids she just thought that being married and having kids just wasnt for her. Jane always loved kids but just not to have of her own(4). Jane went to Oxford with her sister Cassandra they could never stay away from each other and loved going to the same school(3). Jane was always the good student through out her whole school year. Her first time knowing that she wants to be a writer is in her 5th grade class writing a whole story on her weekend. But in the middle of her final school years her and her family moved to Bath a city in England. Sadly her father died that same year from a very sick illness(3). After that everyone went there own ways and with Jane never finishing school(1). After that jane still didnt know where to go. She looked for houses and just something right for her taste. But unfortunately she couldnt and found a room but it was at her older brother house Charles Austen(1). While Jane was still living with her older brotherShow MoreRelatedIndian English Novel17483 Words   |  70 PagesIndia while opening the window to a plethora of writers. Salman Rushdie, fascinated the Indian intelligentsias with his remarkable understanding of Indian History, as well as unification of Indian history with language. This further paved the way to portray India with her sheer grandeur, tradition, realities, myths, heritage in the most eloquent way. Perhaps this supported Amitava Ghosh to dabble the post colonial Indian realities while helped Vikram Seth to picturise a rather new India laced with anRead MoreThe Hours - Film Analysis12007 Words   |  49 PagesSuicide of the Author and his Reincarnation in the Reader: Intertextuality in The Hours by Michael Cunn ingham Andrea Wild In his novel The Hours, Michael Cunningham weaves a dazzling fabric of intertextual references to Virginia Woolfs works as well as to her biography. In this essay, I shall partly yield to the academic itch to tease out the manifold and sophisticated allusions to the numerous intertexts. My aim, however, is not to point out every single reference to Woolf and her works--such

Phrases to Use to Confirm Information

There are certain times in our lives that we need to make sure we understand everything. That’s when clarifying information becomes important. If we want to double-check, we can ask for clarification. If we want to make sure that someone has understood, you can request confirmation that someone has received the message. This type of clarification is especially useful in business meetings, but also in everyday events like taking directions over the telephone or checking an address and telephone number. Use these phrases to clarify and check information.   Phrases and Structures Used to Clarify and Check that You Understand Question Tags Question tags are used when you are sure you have understood but would like to double check. Use the opposite form of the helping verb of the original sentence at the end of the sentence to check. S Tense (positive or negative) Objects , Opposite Auxiliary Verb S You’re going to attend the meeting next week, aren’t you?They don’t sell computers, do they?Tom hasn’t arrived yet, has he? Phrases Used to Rephrase to Double Check Use these phrases to indicate that you would like to rephrase what someone has said in order to make sure you have understood something correctly. Can I rephrase what you said/have/said?So, you mean/think/believe that ...Let me see if I’ve understood you correctly. You ... Can I rephrase what you mean? You feel it’s important to enter the market now.Let me see if I’ve understood you correctly. You would like to hire a marketing consultant. Phrases Used to Ask for Clarification Could you repeat that?I’m afraid I don’t understand.Could you say that again? Could you repeat that? I think I may have misunderstood you.I’m afraid I don’t understand how you plan to implement this plan. Phrases Used to Make Sure Others have Understood You It’s common to ask for clarifying questions after you presented information that might be new to those listening. Use these phrases to make sure everyone has understood. Are we all on the same page?Have I made everything clear?Are there any (more, further) questions? Are we all on the same page? I’d be happy to clarify anything that’s not clear.Are there any further questions? Let’s take a look at a few examples to help clarify. Phrases Use these phrases to repeat information to make sure everyone has understood. Let me repeat that.Let’s go through that again.If you don’t mind, I’d like to go over this again. Let me repeat that. We’d like to find new partners for our business.Let’s go through that again. First, I take a left at Stevens St. and then a right at 15th Ave. Is that correct? Example Situations Example 1 - At a Meeting Frank: ... to end this conversation, let me repeat that we don’t expect everything to happen at once. Are we all on the same page?Marcia: Can I rephrase just a bit to make sure I’ve understood? Frank: Certainly.Marcia: As I understood, we’re going to open up three new branches over the next few months. Frank: Yes, that’s correct.Marcia: However, we don’t have to make all the final decisions right now, do we? Frank: We only need to decide who should be responsible for making those decisions when the time comes.Marcia: Yes, Let’s go through how we’re going to decide that again. Frank: OK. I’d like you to choose a local supervisor you feel would be up to the task.Marcia: I’m supposed to let him or her choose the location, aren’t I? Frank: Yes, that way we’ll have the best local knowledge.Marcia: OK. I think I’m up to speed. Let’s meet again in a few weeks. Frank: How about Wednesday in two weeks?Marcia: OK. See you then. Example 2 - Getting Directions Neighbor 1: Hi Holly, could you help me out?Neighbor 2: Sure, what can I do? Neighbor 1: I need directions to the new supermarket.Neighbor 2: Sure, that’s easy. Take a left on 5th Ave., turn right on Johnson and continue straight ahead for two miles. It’s on the left. Neighbor 1: Just a moment. Could you say that again? I’d like to get this down.Neighbor 2: No problem, take a left on 5th Ave., turn right on Johnson and continue straight ahead for two miles. It’s on the left.Neighbor 1: I take the second right on Johnson, don’t I?Neighbor 2: No, take the first right. Got it? Neighbor 1: Uh, yes, let me just repeat. Take a left on 5th Ave., turn right on Johnson and continue straight ahead for two miles.Neighbor 2: Yes, that’s it. Neighbor 1: Great. Thanks for your help.Neighbor 2: No problem.

The purpose of the annual review is to reflect Free Essays

The purpose of the annual review is to reflect on the past year’s endeavors, as well as to discuss and set attainable, mutually beneficial goals for the future. It should be viewed as a vehicle to share ideas and insights based on your work in the firm this past year. In your review please address the following: 1. We will write a custom essay sample on The purpose of the annual review is to reflect or any similar topic only for you Order Now Project Contributions: Design, Management, Client Relations, Technical, Teamwork and Profitability. I had been requested to work on a project in New Jersey, which required the renovation of the Korea Telecom office building. However, we could not accept their request due to our firm’s workload at that time. I have been making efforts at being a reliable team member by contributing my skills and knowledge in Auto CAD and other 3d program techniques to the current project and developing rapport among the team members. 2. Firm-wide Contributions: Leadership within firm, promoting firm to others, and business development. I have promoted the firm to potential international project partners and clients by giving out the firm’s brochures and my business cards to well-known and distinguished architectural firms in Korea. 3. Growth: State how these contributions demonstrate growth from previous years’ performance. Even though I’ve had architecture practical experience for over 6 years in Korea, I started all over again in this firm in New York after finishing Graduate School last May 2006. 4. Improvements: How might improvements have been made – either in your performance or by the firm? When I first started working for the firm, I was confused with architectural unit and architectural drawings in terms of architectural drawing standard differentiations, which are different from the methods I was used to back in Korea. However, I got rid of those difficulties by understanding practical knowledge and learning U. S. standard architectural drawing. Now, I’m working on a construction document for the Chapin school project team. 5. Goals: State your goals for next year. I definitely would like to become a more reliable and dynamic member of the architecture staff for this firm by improving my skills in practical drawing and creative drawing. I also hope to contribute to the success of this firm in becoming an internationally well-known design firm through my efforts in procuring international projects and/or partnership. How to cite The purpose of the annual review is to reflect, Papers

Target Australia Pty Ltd Of Wesfarmers Group †Free Samples

Question: Discuss About The Target Australia Pty Ltd Of Wesfarmers Group? Answer: Introduction Public relations are the efforts put in by companies to maintain a favorable public image. It is a strategic communication process that benefits relationships between organizations and public. Reputation of any organization is essentially the perceived value of the firm by its stakeholders as compared to its competitors. Strong positive reputation often attracts a larger customer base and hence increased market share (Lange, 2010). Any gap in the expected value and the real value offered by the firm risks a companys reputation. These risks can be internal as well as external but it is imperative that a firm works towards hedging these risks in the most efficient manner. Reputation is considered an intangible and invisible asset of the firm. It is an equally important asset and hence care must be taken to preserve it. Most of the firms make the mistake of focusing their energies on handling risks that have already surfaced. This process is crisis management and not risk management (Harvard Business Review, 2007). Organizations must work upon their listening skills to be sufficiently aware of ongoing and upcoming issues; to strengthen their understanding of, and current relationships with, significant stakeholders; and to take steps beyond traditional PR by activating a network of supporters who can influence key constituencies (McKinsey, 2009). This report throws light on the issues faced by the firm Target Company Pty Ltd which is a part of Wesfarmers group in Australia. It is a leading brand and currently facing certain issues which have adversely hampered its public relations. This report provides a detailed insights about the issues faced and rec ommended strategies to fix the damage done. Situation Analysis Organizational Background Wesfarmers is a renowned conglomerate with diversified businesses in the field of Department stores, Liquor, Chemicals, Energy, Fertilizers and office supplies. Target Company Pty Ltd is their trademark department store brand that has successfully established a name for itself by offering a sundry variety of apparels, home wares and merchandise. The giant brand functions across 300 outlets in Australia with assistance from a 16000 member team (Wesfarmers, 2017). Target is a flagship brand of Wesfarmers and has been gifted with a strong brand name since its inception (Wesfarmers, 2017). This brand name has no doubt helped Target establish a positive goodwill for the company. However, this calls for a greater responsibility to protect and preserve the reputation that comes with the legacy of Wesfarmers. Target Company Pty Ltd along with Wesfarmers therefore invest in various strategies for their reputation management. Present State Wesfarmers groups Target Company Pty Ltd is currently going through radical changes in terms of preserving its reputation to its stakeholders. No doubt, the company is backed with the Wesfarmers brand to hold on to, yet the recent issues faced by the firm have drastically impacted its positioning in the market. There are three specific issues that are discussed in the report and strategic recommendations are offered for the same. However, it is imperative that Target Company Pty Ltd jumps the bandwagon and resolves the issues at the earliest. Issues faced Ethical issues while sourcing raw materials Asian markets still continue to be subjected to extreme cases of child labor and underpaid labor. This is the reason most Australian nations including Wesfarmers are shifting to direct sourcing by eliminating the agent. This requires setting up direct sourcing offices and enhanced knowledge of local businesses. This process is usually time consuming and demanding (Journal of Superannuation Management, 2012). This adversely impacts the reputation of Target and at this moment, the brand is looking for alternative sources of raw materials. Also the cost of raw materials is increasing at a high pace. Their main sources of raw materials are China and Bangladesh. China governments 5 year plan focuses on increasing labor wages and domestic consumption. This automatically makes raw materials sourced from there expensive. On the contrary, Bangladesh has a bi lateral trade agreement with Australia and which allows duty free imports (Bangladesh high commission, 2016). But sweatshops and infrastructural issues are abundant which limits the advantages of the agreement and also hampers Targets reputation. Accounting Scandal For the 6 months ending in December 2015, it was brought to light that Wesfarmers department store Target has fraudulently inflated income by $21 million. This mishap not only led to resignation of then MD Stuart Machin but also diminished the brands goodwill (ABC news, 2016). This incidence was covered by all leading newspapers, news channels and magazines and created a major havoc in the brands reputation. Every time any such fraudulent activity by the firm comes to notice, it becomes the talk of the town and disrupts the goodwill of the company, hampers its sale, reduces customer footfall in the stores and diminishes customer loyalty. Richard Goyder went to the extent of saying that the entire brand of Wesfarmers has been hit by Stupid target (The Australian, 2016). Firstly no organizations should ethically involve in such practices and secondly, in case of such a crisis, immediate actions must be taken by the firm to resolve it and reduce the damage. Shifting office CEO Richard Goyder confirmed that after the accounting scandal of 2015, the business required a physical shift. Which is why Target Company Pty Ltds office is to be shifted from a small town of Geelong to Melbourne. This will lead to a loss of 900 local jobs. Also any physical shift requires immense adjusting and is a time consuming process (ICAS, 2016). But most importantly, if not handled well, it can hamper the firms reputation immensely. Especially with the increasing unemployment rates in Australia, people are very sensitive towards this subject. A sudden loss of 900 jobs by a single firm will lead to a negative image in the consumers minds. Strategy Target Publics Primary and secondary stakeholders of the firm as identified are: Primary Stakeholder Secondary Stakeholder Customers Potential customers Employees Competitors Leadership Families of employees Other Wesfarmers group companies Real estate agents Clients Potential employees Suppliers Contractors Media houses Public relations Government bodies Traditional and Social media approach Every time a company faces issues as mentioned above, it adversely affects its relationship with all of its stakeholders. Media plays an important role in this entire procedure. The traditional media strategies include using television, media releases, articles, magazines and newspaper as a means of communicating with stakeholders. Owing to rapid development in technology and increased use of internet, various social media strategies include the following: Social media: Facebook, twitter and Instagram have all become brilliant sources of communication between the organization and its public. They can be used to fix the issues by increasing their brand awareness and improving their brand presence on these platforms. SEO/SEM: Search engine optimization is an efficient technology to make sure that people are able to find details about the organization easily. This helps in increased brand awareness. Google Ad Words: Google ad words involves the art of listing down certain specific words. When anyone uses these words on their Google search, Target Corporation Pty Ltd will be suggested. Goals and Objectives The overall objective of this plan is to ensure the brand with a long lasting reputation that attracts customers. The idea is to resolve the above mentioned issues in the most efficient manner and ensuring that Target Company Pty Ltd develops a positive goodwill among its customers. The strategic goals are as below: To find more efficient sources of raw material procurement within 12 months To resolve sweatshop and labor issues in Bangladesh within 18 months To rectify the bad marketing caused due to accounting scandal within 2 months To ensure no accounting scandal takes place in the future by forming a committee to check all reports published. This committee should be formed in 1 month. To have a more transparent accounting system in place within 3 months To ensure sustainable handovers by 900 employees in Geelong within 3 months To ensure the employees do not face disruptions in their careers within 6 months Strategy and Tactics Goals Objectives Tactics To resolve ethical issues related with raw material procurement To find efficient sources of Raw material To resolve sweat Shop and labor issues in Bangladesh To ensure a positive reputation in the market in terms of raw material sourcing Conduct researches and explore further Asian markets for raw material procurement To establish offices in Bangladesh and employ effective human resource department to check these issues in place Zero tolerance towards forced labor Fair remuneration must be practiced across the firm Surprise visits to Bangladesh facilities Release media reports and documentaries demonstrating effective raw material procurement. To ensure efficient and responsible shift to a new office in Melbourne from Geelong Ensure job safety of 900 Employees at Geelong Effective turnover by these employees Offer jobs at other Wesfarmers group companies Offer jobs at the new location in Melbourne Offer a minimum 3 month notice period to find other job Offer relocation bonuses to families willing to shift Offer jobs to spouses of employees who are willing to shift Recommendation letters must be given to all employees Full and final payment settlement must be done without any delay To resolve the aftermath of accounting scandal in the firm Avoid Accounting scandals in the future Rebuild the reputation ruined by the scandal Fire employees responsible behind the scandal Publicly release the correct accounting details of the firm Public punishments to ensure no employee indulges in similar actions Future reports must be monitored by a team before release to a general public Board of directors must release a letter of apology Media houses must be invited for public statements by the company Evaluation Accounting Scandal Target Company Pty Ltd.s accounting scandal was one of the biggest cause of negative publicity and put the firm in a bad light. The decision to immediately fire the CEO saved some grace (Sydney Morning Herald, 2016). However the after effects were rather catastrophic. It is a classic example of a black propaganda. Public relations play a vital role in managing, protecting and further rebuilding the reputation of a firm in such a scenario. Using these public relation tools efficiently becomes increasingly important. The following evaluation plan is recommended to the firm. Stage Measurement Purpose Pre implementation Back check all accounting records of the company for the last 5 years To ensure that no such mistake has been made in the past 1 months Committee formation to reach the depth of the issue To recognize people responsible behind this scandal. Make sure they are punished to establish reputation among people. 2 months Fire the employees Apologize publicly To ensure no one commits such a mistake again To ensure the public knows that the firm is taking responsibility 3 months Release correct accounting numbers To gain trust among the public again and save the companys reputation. Ethical Issues while sourcing raw materials Raw materials and their sourcing has been a major issue faced by Target Company Pty Ltd in the last few years. The increasing number of reports published by various leading magazines throwing light on sweatshops and worsening labor conditions in the Asian markets are now reaching a wider audience. This has created a dent in the reputation of the firm. Steps recommended to the Target Company Pty Ltd to remedy this are: Stage Measurement Purpose Pre implementation Identify all the issues related to procuring raw materials from Bangladesh To ensure the issues can be resolved in an efficient manner and the companys reputation can be saved from further harm. 1-2 months Committee formation to reach the depth of the issue To recognize the causes responsible behind the issues there 6-8 months Establish offices in Bangladesh To conduct surprise visits To monitor workings of the office To make sure these issues are not repeated else it will majorly affect the companys goodwill. 1 year Continue to evaluate better sources of procuring raw material To gain trust among the public, improve reputation and reduce cost Shifting office Due to growing opportunities and market size of Target, it is no doubt important that the office be shifted to a more developed city like Melbourne. Also the CEO opined that the firm needed a physical shift post the accounting scandal (Brisbane Times, 2016). However, the loss of 900 local jobs must be compensated for. It was observed by leading news channels that the frustration among employees post the announcement was evident (Geelong Advertisers, 2016). Recommended steps to remedy that are as below Stage Measurement Purpose Pre implementation Identify the total count of job To ensure these lost employees are addressed efficiently and they develop a goodwill for the company 1-2 months To offer jobs in other Wesfarmers companies in Geelong To ensure employees dont lose jobs. If they do, they will spread a bad name and hence affect the companys reputation 3-4 months To write recommendation letters To provide a two month notice period To effectively complete the full and final settlement To make sure employees are not frustrated or helpless 6 months To provide relocation bonus and paid leaves to employees who are willing to shift to Melbourne To gain trust among employees leading to improved reputation in the market Conclusion The functions of PR play a very vital role in establishing, sustaining, protecting and rebuilding this reputation if the need be (Griffin, 2014). Reputation management is an essential part of working with any business. Reputation defines what the stakeholders perceive about the organization. Marketing is a tool to promote products whereas PR can be efficiently used to influence the business environment in order to build a positive reputation. This report has mentioned three major issues faced by Target Company Pty Ltd of Wesfarmers group in Australia. These issues include a massive accounting scandal, shifting of their office and other ethical issues faced in the process of procuring raw materials from Asian markets. This report critically throws light on these issues and recommends strategies to overcome the same. The detailed evaluation plan also affirms the working of these strategies and the time taken to completely build the reputation again. References Bangladesh High Commission, 2016, Bangladesh Australia trade relations, https://www.bhcanberra.com/trade-investments/bangladesh-australia-trade-relations, viewed on 30 September, 2017 Brisbane times, 2016, Target to shift from Geelong, https://www.brisbanetimes.com.au/business/companies/target-could-cut-up-to-25-per-cent-of-geelong-head-office-staff-20160413-go57d5.html, viewed on 30 September, 2016. Geelong Advertiser, 2016, 900 Geelong target jobs in lingo, https://www.geelongadvertiser.com.au/news/geelong/900-geelong-target-kobs-in-limbo-as-new-boss-guy-rosso-searches-for-melbourne-base/news-story/6ca2d242326c2bb173d1dbc56cbe69e3, viewed on 30 September, 2017. Griffin, A. (2014).Crisis, Issues and Reputation Management: A Handbook for PR and Communications Professionals. Kogan Page Publishers. Harvard Business Review, 2007, Reputation and its risks, https://hbr.org/2007/02/reputation-and-its-risks, viewed on 28 September, 2017. ICAS, 2016, https://www.icas.com/ca-today-news/target-accounting-scandal, viewed on 30 August 2017. Lange, D., Lee, P. M., Dai, Y. (2011). Organizational reputation: A review.Journal of Management,37(1), 153-184. McKinsey, 2009, Rebuilding Corporate reputations, https://www.mckinsey.com/global-themes/leadership/rebuilding-corporate-reputations, viewed on 30 SepteConclusionber, 2017. Sweeny, M, 2012, How Sustainable are Australian retailers new sourcing strategies. Journal of Superannuation management 04(03), 22-26. Sydney Morning Herald, 2016, Outgoing Target boss Stuart Machin quits, https://www.smh.com.au/business/retail/outgoing-target-boss-stuart-machin-quits-ahead-of-investigation-findings-20160408-go27nt.html, viewed on 30 September, 2017. Sydney Morning Herald, 2016, Wesfarmers takes action against staff over target rebates, https://www.smh.com.au/business/retail/wesfarmers-takes-action-against-staff-over-target-rebates-20160411-go3il5.html, viewed on 30 September, 2017. The Australian, 2016, Wesfarmers takes a hit from stupid Target, https://www.theaustralian.com.au/business/companies/richard-goyder-wesfarmers-takes-hit-from-stupid-target/news-story/267f4fc82b653b6f298a53af694cccc9, viewed on 28 September, 2017. Wesfarmers, 2017, Our Businesses, https://www.wesfarmers.com.au/our-businesses/our-businesses, viewed on 28 September, 2017. Wesfarmers, 2017, Target, https://sustainability.wesfarmers.com.au/our-businesses/department-stores/target/, viewed on 30 September, 2017

Greek Mythology Essays (952 words) - Greek Mythology,

Greek Mythology Greek Mythology, beliefs and ritual observances of the ancient Greeks, who became the first Western civilization about 2000 BC. It consists mainly of a body of diverse stories and legends about a variety of gods. Greek mythology had become fully developed by about the 700s BC. Three classic collections of myths-Theogony by the poet Hesiod and the Iliad and the Odyssey by the poet Homer-appeared at about that time. Greek mythology has several distinguishing characteristics. The Greek gods resembled humans in form and showed human feelings. Unlike ancient religions such as Hinduism or Judaism, Greek mythology did not involve special revelations or spiritual teachings. It also varied widely in practice and belief, with no formal structure, such as a church government, and no written code, such as a sacred book. Principal Gods The Greeks believed that the gods chose Mount Olympus, in a region of Greece called Thessaly, as their home. On Olympus, the gods formed a society that ranked them in terms of authority and powers. However, the gods could roam freely, and individual gods became associated with three main domains-the sky or heaven, the sea, and earth. The 12 chief gods, usually called the Olympians, were Zeus, Hera, Hephaestus, Athena, Apollo, Artemis, Ares, Aphrodite, Hestia, Hermes, Demeter, and Poseidon. Zeus was the head of the gods, and the spiritual father of gods and people. His wife, Hera, was the queen of heaven and the guardian of marriage. Other gods associated with heaven were Hephaestus, god of fire and metalworkers; Athena, goddess of wisdom and war; and Apollo, god of light, poetry, and music. Artemis, goddess of wildlife and the moon; Ares, god of war; and Aphrodite, goddess of love, were other gods of heaven. They were joined by Hestia, goddess of the hearth; and Hermes, messenger of the gods and ruler of science and invention. Poseidon was the ruler of the sea who, with his wife Amphitrite, led a group of less important sea gods, such as the Nereids and Tritons. Demeter, the goddess of agriculture, was associated with the earth. Hades, an important god but not generally considered an Olympian, ruled the underworld, where he lived with his wife, Persephone. The underworld was a dark and mournful place located at the center of the earth. It was populated by the souls of people who had died. Dionysus, god of wine and pleasure, was among the most popular gods. The Greeks devoted many festivals to this earthly god, and in some regions he became as important as Zeus. He often was accompanied by a host of fanciful gods, including satyrs, centaurs, and nymphs. Satyrs were creatures with the legs of a goat and the upper body of a monkey or human. Centaurs had the head and torso of a man and the body of a horse. The beautiful and charming nymphs haunted woods and forests. Worship and Beliefs Greek mythology emphasized the weakness of humans in contrast to the great and terrifying powers of nature. The Greeks believed that their gods, who were immortal, controlled all aspects of nature. So the Greeks acknowledged that their lives were completely dependent on the good will of the gods. In general, the relations between people and gods were considered friendly. But the gods delivered severe punishment to mortals who showed unacceptable behavior, such as indulgent pride, extreme ambition, or even excessive prosperity. The mythology was interwoven with every aspect of Greek life. Each city devoted itself to a particular god or group of gods, for whom the citizens often built temples of worship. They regularly honored the gods in festivals, which high officials supervised. At festivals and other official gatherings, poets recited or sang great legends and stories. Many Greeks learned about the gods through the words of poets. Greeks also learned about the gods by word of mouth at home, where worship was common. Different parts of the home were dedicated to certain gods, and people offered prayers to those gods at regular times. An altar of Zeus, for example, might be placed in the courtyard, while Hestia was ritually honored at the hearth. Although the Greeks had no official church organization, they universally honored certain holy places. Delphi, for example, was a holy site dedicated to Apollo. A temple built at Delphi contained an oracle, or prophet, whom brave travelers questioned about the future. A group of priests represented each of the holy sites. These priests, who also might be community officials, interpreted the words of the gods but did not possess any special knowledge or power.

Light Rare Earth Elements (LREE)

Light Rare Earth Elements (LREE) The light rare earth elements, light-group rare earths, or LREE are a subset of the lanthanide series of  the rare earth elements, which are themselves a special set of transition metals. Like other metals, the light rare earths have a shiny metallic appearance. They tend to produce colored complexes in solution, conduct heat and electricity, and form numerous compounds. None of these elements occurs in pure form naturally. Although the elements are not that rare in terms of element abundance, they are extremely difficult to isolate from each other. Also, the minerals that bear rare earth elements are not uniformly distributed across the globe, so the elements are uncommon in most countries and must be imported. Elements That Are Light Rare Earth Elements Youll see different sources site slightly different lists of elements classified as LREEs, but the US Department of Energy, US Department of the Interior, US Geological Survey, and national labs use a very specific set of criteria to assign elements to this group. The light-group rare earth elements are based on the configuration of  4f electrons. LREEs have no paired electrons. This makes the LREE group consist of 8 elements with atomic number 57 (lanthanum, with no unpaired 4f electrons) through atomic number 64 (gadolinium, with 7 unpaired 4f electrons): lanthanum (La) - used in high-end optical lenses and in  lanthanum nickel-metal hydride (NiMH) rechargeable batteriescerium (Ce) - the 25th most abundant element in the Earths crust (so not rare at all), used in catalytic converters and the oxide as a polishing powder  praseodymium (Pr) - oxide is used as a catalyst in plastic manufacturing and is combined with zirconium oxide to produce a vivid yellow pigment used in ceramicsneodymium (Nd) - used to make super-strong magnets; neodymium-iron-boron (NeFeB) magnets are used to make cell phones vibratepromethium (Pm) - used to make a phosphorescent pigment and to make the starter switch for fluorescent lampssamarium (Sm) - used in high strength magnets and to make servo-motorseuropium (Eu) - used to make phosphors, notably the reddish-orange color of screens and monitorsgadolinium (Gd) - used in a reactor to control rods to control fission reaction and as a contrast agent to improve magnetic resonance imaging (MRI) Uses of the LREE All of the rare earth metals have great economic importance. There are many practical applications of the light rare earth elements, including: lasermagnetsphosphorsluminous paintscatalystsmetallurgysuperconductorssensorsflat panel displaysmedical tracersmicrophones and speakersrechargeable batteriesfiber opticsnumerous defense applications The Special Case of Scandium The element scandium is considered to be one of the rare earth elements. Although it is the lightest of the rare earths, with atomic number 21, it is not classified as a light rare earth metal. Why is this? Basically, its because an atom of scandium does not have an electron configuration comparable to that of the light rare earths. Like other rare earths, scandium typically exists in a trivalent state, but its chemical and physical properties dont warrant grouping it with either the light rare earths or the heavy rare earths. There are no middle rare earths or other classification, so scandium is in a class by itself.

Publix Super Market and the Effect of Hurricanes Research Paper

Publix Super Market and the Effect of Hurricanes - Research Paper Example Hurricanes result to enormous damages and devastation within the local communities. These natural disasters tend to deter and disrupt supply chains of major products due to the damages inflicted on infrastructure such as roads, rails, and communication channels. Consequently, businesses (especially those that operate a Just-in-Time manufacturing methodology) incur significant supply shortages that run for long durations, resulting to losses due to lost revenues. Other losses emanate from damage on goods and insurance claims that may run into hundreds of million of dollars. One such business that experienced huge losses in the 2004-2005 hurricanes in Miami, Florida is Publix Supermarket and its chain of stores. This paper seeks to examine the effects of external events to a business, drawing from the impacts of hurricanes on Publix supermarket, especially the disruption of its supply chain, damages to goods, and insurance claims (Publix AMC). Publix Supermarket Inc is an employee-owne d chain stores operating primarily in the United States. The company has grown rapidly since its establishment to dominate the retail industry in Florida and the US at large, operating 1086 retail stores, 8 centers for grocery distribution, and nine brand-manufacturing facilities. The product portfolio of the company is majorly grocery, foods and beverages, and other finished products, groceries and food products being dominant. With the headquarters in Florida, the retail giant has over 757 stores, with a grocery distribution center in Miami (Publix AMC). The company has a solid establishment in the Florida region, but the fact that the area is prone to hurricanes and tornadoes downplays its development. Due to the delicate nature of its products portfolio, Publix operates a primarily Just-in-Time manufacturing method. This production methodology emphasizes on problem solving and waste reduction for continuous improvement, thus improving organizational performance. The fundamental principles include having adequate inventory only, improving quality, reducing setup time and queue length, and reducing costs. This production method has quality and cost benefits, but the most significant challenge is supply chain disruptions. Supply chain disruptions occur because of failure of one element of the supply chain and the subsequent failure in the rest of the chain. There are two categories of supply chain risks: disruption or operation. Operational risks refer to uncertainties such as uncertainty in costs, customer demand, and supply. Disruption risks are associated with economic crises or manmade and natural disasters. This paper focuses on the disruption risks in the supply chain of Publix Supermarket Inc. In Miami, the most significant disasters are hurricanes. About eight years ago, the region experienced three catastrophic hurricanes in barely two month, with hurricane Charley in August 13 2004, hurricane Ivan in September 2004, and hurricane Jeanne in September 2004. The impacts of the events were enormous to the people and business in that community. Among the most affected was Publix Super Markets, recording well over $60 million in product losses alone (SEC 17). According to the organization’s Form 10-K submission for the fiscal year 2006 to the US Securities and Exchange Commission, the 2004-2005 hurricanes had significant financial

Approaches to the Management of Diversity Research Paper - 1

Approaches to the Management of Diversity - Research Paper Example Many authors agree with this definition saying that diversity should be seen to apply to everyone in the organization in order to produce its intended effect. As long as there are distinctions within a group, diversity will always exist (Li, Cho and Curry 17). Another definition considered inclusive and constitutive defines diversity as â€Å"the collective amount of differences among members of a social unit.† (Harrison and sin 196) From all these definitions it is evident that diversity goes beyond the issues of race and gender to address other issues such as differences in talents and abilities, age, social status, economic status etc. of people at the workplace or in any functional group (Harrison and sin 196). There are four dimensions to understanding diversity. Some researchers from the CAN Corporation studied the impact of diversity on Air Force mission performance. they looked at four dimensions to diversity: (1) Demographic diversity: these include personal characteristics such as age, race/ethnicity, religion, and gender; (2) Cognitive diversity: these will include personality types, such as extrovert/introvert and Type A/Type B, thinking styles, such as quick, decisive thinking versus slow, methodical thinking etc.; (3) structural diversity: organizational background characteristics including service, work function and component; and (4) Global diversity: and this include national affiliations (Riche and Amanda Kraus 5-10). Diversity management has been defined as â€Å"the as the craft or process of making quality decisions in the midst of differences, similarities, tensions, complexities, etc. the distinction between diversity and diversity management is important. If you do not properly manage diversity, you can lose representation.† (Lim, Cho and Curry 20) Another author considers diversity as a â€Å"liability† until and unless processes are put in place to manage the negative dynamic and to release diversities

How Does Tourism Help The Economy

How Does Tourism Help The Economy The economic effect of tourism on a country Spending holidays abroad with family, is trendy these days. People around the world visit different places during summers and winters. I and my family too visit different places during vacations. When in a foreign country, I have always wondered, How does the country benefit from attracting tourists? I roughly knew the answer that the money that tourists spend in that particular country is the income of the tourism industry. But after this research, I have now understood that tourism is an important part of an economy and the money it earns is helpful to everyone. GENERAL IMPACTS: General Positive effects of tourism: It creates employment for people of the country. It promotes cultural awareness and also helps to preserve local culture and traditions. Money gained from tourism can be used to develop the infrastructure and services e.g. new roads and airports. In LEDCs money can be invested on developing education, clean water and sanitation. The foreign money can become aid to local people. Natural attractions can be protected using income from tourism. GOOD ECONOMIC IMPACTS: It generates foreign exchange. It creates new job and employment opportunities. It stimulates trade, income and entrepreneurship especially in small business sectors. The provision of new infrastructure which is available for non-tourism uses. It increases regional development particularly in isolated areas. It generates greater collection of taxes and revenues. General Negative impacts: It can have a negative impact on the environment. It increases air travel and thereby contributes towards air pollution. Mostly local people are employed in low skill, poorly paid work in unhygienic working conditions. Travel agents, airline companies and hoteliers benefit more than local companies when holidays are booked to destinations in LEDCs. Destroys local culture and traditions. Locally run accommodation companies face competition with foreign companies which build hotels in this new tourist destination. BAD ECONOMIC IMPACTS: 1) Necessity to import goods increase. This is especially with small economies which often do not produce what the tourists demand, and therefore import to meet the demands of the tourist. 2) Displacement effects. When a new tourism project takes customers away from an existing industry or facility, the economy is said to be shifted. 3) Over-dependence on tourism. When initially developing, the tourism industry is in vigour. The people start investing their money in this industry, resulting in downfall of other industries that were initially present. But soon tourists begin to dislike the particular tourist location and the economy falls. 4) Over-reliance on labour. As the tourists would increase, the labour required to fulfil their requirements would increase. The industry would extensively rely on labour; therefore these companies would highly exploit labour to meet the tourist demands. 5) Higher land values. Higher number of tourists would require more accommodation. Therefore hotels, lodges and rest houses are built. These results in shortage of land and the prices shoot up, which affect the locals. 6) Prices of goods increases. More tourists means more needs of supplies example: food, water, electricity, gas supply, etc. Also maintenance and repair would increase. These would make the market more expensive, making difficult for local people. UNITED KINGDOM: According to World Travel Tourism Council (WTTC), the industry grew by 1.3% in 2012. This rate of growth means that Tourism industry directly contributed  £35.6 billion to the British economy. The number of jobs that tourism supported was forecasted to increase by 250,000 between 2010 and 2020, from 2.645 million to 2.899 million. One in twelve jobs is currently supported by tourism. The UK has the fifth largest tourism industry in the world. It comprises of 200,000 enterprises. 70,000 establishments include major world-class hotels, country house hotels, guest houses, holiday parks, 110,000 restaurants, bars and pubs are surviving on Tourism. Moreover 7,000 businesses including theme parks, museums, heritage sites, parks, gardens, zoos; 25,000 businesses staging conferences, festivals, exhibitions and concerts are also dependent on Tourism. It has low barriers to entry making it able to respond quickly to changes in demand, and highly efficient in rapidly creating employment. Recently increased visa and Air Passenger Duty charges worsened the situation, as the UKs VAT rates for accommodation and restaurants, have become twice of the main tourism industries in Europe. If these VAT rates are reduced, the Tourism industry might not suffer much. FUTURE SCENARIOS: Tourism is forecasted to contribute over  £100 billion to the UK economy. INDIA: The demand tourism in India is expected to grow by 8.2 percent between 2010 and 2019 and will place India at the third position in the world. Indias tourism sector is expected to be the second largest employer in the world, employing 40,037,000 by 2019. The report forecasts India to get capital investment worth US$ 275.5 billion in 2018. Positive Impacts: It has generated income, resulted in poverty alleviation and has generated great number of jobs. The tourism industry in India generated about US$100 billion in 2008 and that is expected to increase to US$275.5 billion by 2018 at a 9.4% annual growth rate. It helps in preservation of heritage sites like old monuments (ex. Taj Mahal and Qutab Minar) and saving the biodiversity; therefore attracting more tourists and resulting in more income. It encourages infrastructure development, health care facilities, recreation areas, hotels and restaurants; which again increases the number of tourists attractions. Problem in India: The major problem in the development of tourism in India is inadequate infrastructure including less air seat capacity, accessibility to tourist destinations, accommodation and trained manpower in sufficient number. Poor visitor experience and poor hygienic conditions are also some of the problems. It sometimes leads to the destruction of social fabric of country. When too many tourists visit a place, the chances of development of crime and human trafficking may happen at a great extent. And therefore India has to spend money on crime control. It may lead to suspicion, tension and hostility between locals and the tourists, as they share different cultural backgrounds and lifestyles. This may lead to disputes and violence, overall reducing the tourist count. AUSTRALIA: In Australia, tourism directly and indirectly employed 907,100 persons. In 2010-11, Australia nearly earned $73.3 billion from tourism industry. The total output multiplier is 1.92, which means every $1 tourism industry earns, adds 92 cents extra indirectly to other parts of countrys economy. State Tourism Satellite Accounts (2011) show that out of $65.4 billion, which were contributed by the states mostly were: New South Walesà ¢Ã¢â€š ¬Ã¢â‚¬ $21.3 billion (33 per cent) Queenslandà ¢Ã¢â€š ¬Ã¢â‚¬ $16.3 billion (25 per cent) Victoria $13.4 billion (21 per cent). The number of tourists by 2021-2022 is forecasted to increase by 0.8 %, which means around 308 million tourists would visit in Australia. SPAIN: The tourist boom that began in the mid-1950s was based on the recreational assets of the Mediterranean seashore areas. In 1970s and 1980s, when the tourist boom was playing its role, tourism development lead to the loss of traditional jobs, when workers moved from industries such as : Farming, forestry, mining and Shing into service jobs in tourism and made a serious impact on the overall economy. Tourists had spent around 49 billion Euros in Spain in 2010. The real foreign tourism has increased by 8.65 %. The income was about 159.9 billion Euros in 2011 according to world tourism and travel council. The industry is predicted to gain 180 billion Euros by 2022. Tourism also contributed to 12.7% of total employment and 2,304,500 jobs were created. The employment number is predicted to rise to 2,369,000 by 2022. But if the country experiences major drawback in tourism industry in the future, it would for 12.7 % of the people to lose their jobs.

The Impostor Syndrome :: Gender Women Papers

The Impostor Syndrome Professor Martine Haas, Organizational Behavior, Cornell University, gave an example of a woman named Vignette who was giving presentations and had to monitor herself in a male dominated setting. She avoided raising her voice at certain times in order not to sound too assertive because she is a woman. Vignette hasn't been the only female or woman who has been faced with this situation. Aside from this type of impression management, there have been many circumstances where many successful women hesitate to take full credit for their success and accomplishments. They often feel insecure, attribute their accomplishments to something other than their own efforts such as luck and often get thrown into a state of paranoia that people will doubt their competency. This is known as the "imposter syndrome." Susan Schenkel, author of â€Å"Giving Away Success† says â€Å"there are many ways we discount ourselves. Three of the most common patterns are: 1) emphasizing the negative 2) automatically attributing success to something other than ability, and 3) automatically blaming failure on lack of ability† (Schenkel, 6). Schenkel explains how women also end up being susceptible to falling into helplessness as a result of uncontrollability, which is the belief that nothing can be done to rectify their current state of misfortunes. As a result they end up withdrawing, for example, stopping, quitting or escaping from making ardent efforts to deal with their existing problems. A second thing they tend to do is to avoid getting into tough situations. They do this by shying away from confrontation with the difficulty they feel unable or unwilling to handle (Schenkel, 19). As a result of this helplessness disrupts behavior such as undermining motivation, interfering with ability to l earn and creating emotional distress (Schenkel, p. 24). Another aspect of this imposter syndrome is fear of failure, where women sometimes get terrified of being judged and found unqualified (Schenkel, 55). When the fear of failure is combined with other behavioral patterns, a resulting consequence is anxiety. This is where women tend to have â€Å"split self-image† which is â€Å"an ongoing battle between positive and negative views of our ability† (Schenkel, 63). Secondly there is a superfluous desire and concern to win approval of others. Lastly, they tend to evaluate themselves and their experiences as either good or bad and with nothing in between (Schenkel, 65). In an attempt to prevent experiencing failure, women make cumbersome efforts to establish extremely high standards and goals for themselves and work indefatigably to meet them (Schenkel, 66).

Mark O’Connor Imagery

Poet and Environmentalist, Mark O'Connor, expresses his admiration for the cyclical and resilient aspects of which nature is comprised. The persistence of nature depicts the ideas that nature is just as, if not more, dominant as man. His poems Turtles Hatching and To Kill An Olive explore these themes and elucidate O'Connor's compelling perspective of nature. These two poems hold distinctively visual images that enable the reader to envisage the scene presented.Turtles Hatching's poetic recount encapsulates the trials and tribulations of the turtles. O'Connor describes the turtles as â€Å"high revving toys†, ready for their chance at life. He elucidates the persistence of the turtles by using distinctively visual images describing how determined these turtles were at reaching their safe haven: â€Å"Scrambling in sand, scrabbling in slime, or sculling deluded through sand-pools to beaches of death†. This alliteration of the visual images highlights the desperation of t he turtles on their fight for survival.O'Connor has created a distinctive image to aid readers in creating an idea of just how determined and persistent, not only the turtles were, but also just how determined the crabs were at preventing the turtles from reaching their goal. â€Å"Queued up crabs† gives readers an image of an army of crabs; so many as they wait for the turtles to come. Not only was natures tenacity evident in Turtles Hatching, O'Connor has also brought this theme to the readers attention in To Kill An Olive. O'Connor has started out To Kill An Olive, diving straight into the resilience and persistence of olives trees.He has accumulated the many things that are incompetent of killing an olive tree elucidating just how determined they are at overpowering man. â€Å"Hack one down, grub out a ton of main root for furl, and next spring every side-root sends up shoots†. O'Connor has described visually these connotations of just how in destructive these tree s are, despite are the treatment it is being subject to. O'Connor has made reference to the prolonged period of time these olive trees has been persistent in overcoming mans many obstacles. â€Å"Burnt-out ribs  of siege machines† not only highlights how long these olive trees have been standing for, but also how the tree has overcome the old-timed machines and gone and lived another age. The distinctively visual images used here can encapsulate this theme and gives readers a deeper understanding of the tenacity these olive trees are willing to relinquish. O'Connor is fascinated by just how much humans underestimate nature. The smallest creatures can overcome any adversity and the dullest of trees can overpower any man. Nature, if it wants to, can be just as powerful as man. In Turtles Hatching, Mark O'Connor has done just this.

Capital structure - Free Essay Example

Sample details Pages: 12 Words: 3505 Downloads: 2 Date added: 2017/06/26 Category Management Essay Type Research paper Did you like this example? Does capital structure affect firm value? Hypothesis: H0 : There is no a significant relationship between capital structure and their total market value in the stock exchange Thailand. H1: There is a significant relationship between capital structure and their total market value in the stock exchange Thailand. Research question Are there any optimal capital structure of firms in stock exchange Thailand and to examine for the relationship between capital structure and company value. Does capital structure affect firm value? An empirical analysis of firms listed in energy and utilities sector in stock exchange Thailand (SET) Don’t waste time! Our writers will create an original "Capital structure" essay for you Create order 1.Introduction 1.1 Background of study Capital structure plays an important role in financial management of the company. Every firms can mix of debt and equity in different way in order to increase the wealth of ordinary shareholder. There are several type of debt and equity such as common share, preference share ,hybrids ,convertible bonds and so on. Therefore the firms can raise debt and equity finance in countless combination because they need to find the best combination that minimize the weigh average cost of capital and to achieve the objective of management is to maximize the firm value. Basically better management can increase the shareholders wealth by considering the investment project with optimal gearing ratio. From that point of view nevertheless the positive investment project increase the wealth of shareholder , the financial decision is also the key to prospect company future. Groth and Anderson (1997)stated that â€Å"understanding capital structure and its practical implications is important to the professional manager regardless of functional area of expertise. The seminal work in the area of capital structure earned the researchers Nobel Prizes†. Therefore the financial managers would have a duty to determine which debt and equity are used in the capital structure could increase wealth. Typically each company is seeking for profitability by use any strategies that can bring down low cost and gain the company return and value for the operating side. In additional to the financial side is to get the efficiency combination of debt and equity because it reduces the cost of capital. However there are several debates for which capital structure do effect the company value. Is it possible to increase shareholder wealth by changing the gearing ratio or level? How can we find an optimal capital structure? Hence, in this paper will mostly discuss the literature reviews and the research methodology for answering that question. 1.2 Statement of problem Over the past decades, there have been a large number of theoretical and empirical studies appeared. The first famous theory that has been issued by Modigliani and Millers in 1958 was known as proposition 1mention that where the firms are running in the same type of business at the same particular operating risks their capital structure is irrelevant to shareholder wealth. Therefore the firm must have the same total value and they can issue any mix of fund. However the proposition 1 is based on the perfection of capital market and ignore tax , the costs of bankruptancy, financial distress and so on but in the real situation the market is seem to be imperfect. Myer(2001) argued that capital structure theory depend on some circumstances . Each theory can give us the different result regard the cost and benefits from financial strategies. This study will therefore answer the question to what extend different theories of capital structure can identify the impact on the company va lue in stock exchange Thailand market and are there any relationship between the capital structure and the financial performance of the company. 2. Literature Review 2.1 Modiglini and Miler Theory of capital structure Nowadays most of literature review and article have examined and expanded from the famous theory of Modiglini and Miller theory of capital structure. Start with the theory published in 1958 under assumption that in a perfect market the value of the firm is unaffected by its choice of capital structure. Therefore the total value of the firm is stable regardless of debt to equity ratio. To give support under this assumption imagine that two firm with the same operation of business but different in capital structure. Where firm U is unlevered ,the total value of its equity (EU) is the same as the total value of the firm (VU) . Additionally where the firm L is levered, thus the total value of the firm L is equal to the value of the debt less value of the equity of the firm L. As a result the total value for both company will be the same. Because Modiglini and Miler (1958) believe that when there are no taxes and capital markets function well , it makes no different whether the firm should borrow or individual shareholders should borrow . The market value of a company does not depend on its capital structure. They proved the assumption by represent that the arbitrage opportunity would emerge if the total value of the firm relevant to capital structure. The arbitrage should not be in the practical and real situation. The proposition 1 can be illustrated as VL = VU or Value of the levered firm = Value of unlevered firm In order to prove that their proposition (1958) was viable , They make assumption that there are no tax and transaction cost exist in the market. Individual and corporation can borrow at the same rate. However there are a large number of articles argued with his article because it seems to be unrealistic. Thus, in 1963 Modiglini and Miller published second literature which is known as preposition 2 to modify and fix proposition 1 by considering the corporation tax. It stated that the expected rate of return on the common stock of a leve red firm increases in proportion to the debt-equity ratio. While proposition 1 says that financial leverage has no effect on shareholder wealth. In contrast to proposition 2 says that the expected rate of return increases as the firms debt to equity ration increases. This means that when the debt-equity ratio increases the risk is also increases and therefore shareholders expect the high rate of return according to the level of risk they face. Hence, the firm can take benefit as levered firm rather than keep the status as unlevered firm because the corporation can deduct interest payment as an expense but dividend payment are non deductible. As Modiglini and Miller theory stated that the optimal capital structure will exist where the cost of capital or weigh average cost of capital (WACC) minimize and the total market value of the firm maximize. Modiglini and Miller theory with tax illustrated that gearing up by raising debt finance rather than equity finance reduces the WACC and the value of the firm rise. Finally an optimal capital structure does exist at point where debt is 100% The proposition 2 can formulate as: Value of levered firm = Value of un-levered firm + Value of tax saving It is used under assumptions that there is corporation tax in the market but without transaction cost exists. The individual and corporation can still borrow money at the same rate. Therefore the best of capital structure should be 100% debt finance because of tax deductible on interest. Under criticism of theory there are a great amount of articles expanded due to can not used in the real world. 2.2 Trade off Theory of capital structure The trade off theory explains the idea how the firm chooses to raise equity and debt finance by balancing the costs and benefits. Brealey and Myer (2008) presented that each firm should set their own target debt ratio which is vary from firm to firm. The firms with safe tangible asset and plenty of taxable income to shield ought to have high target ratio. Unprofitable companies with risky intangible assets ought to rely primarily on equity financing. Trade off theory has been used widely for study corporate of capital structure because it justify the fact that to raise part of debt finance the company obtain benefit from tax saving nevertheless the firm face with the cost of capital such as cost of financial distress including bankruptcy cost and financial distress without bankruptcy mostly related to customers and suppliers because they are extra cautious about for the firm that may not be around for long. Potential employee leaving or difficult to recruit is also costly for fi nancial distress. In addition to the firm increase gearing result in an increased level of financial risk. So that the shareholder require higher expected return in order to compensate that financial risk. However there are several articles has been question about the relevance of trade off theory. Brealey and Myer (2008) stated that the trade off theory of capital structure can explain how company actually behave because this theory successfully explains many industry differences in capital structure. High technology growth companies whose asset are risky and mostly intangible normally use relatively little debt. Graham and Harvey(2001) pointed out that Airlines can and do borrow heavily because their assets are tangible and relatively safe. There is some evidence that in contrast to the trade off theory of capital structure in real life that the most profitable companies commonly borrow the least (Ward ,1999). Because under this theory it stated that high profits shoul d mean more debt capacity and more tax saving as a result give a higher target debt ratio. 2.3 Bankruptcy cost Corporate bankruptcies concept does exist when stock holders exercise their right to default. Where the firm is coping with the problem but the limited liabilities allows stockholders to diminish and leaving all trouble to their creditor. The former creditors then become the new stockholders and the previous stockholder left with nothing (Brealey and Myer 2008) Warner (1977) classify two type of bankruptcy costs which are direct and indirect. Direct costs include lawyers fee , accountants fee and the value of the managerial time spent in administering the bankruptcy cost. Indirect costs include lost sales, lost profits and possibly the inability of the firm to obtain credit or to issue securities except under especially onerous terms. He did the research by investigate 11 railroads to seek the relationship between bankruptcy costs and the market value of the firm. The evidence shows that while the higher market value railroads generally did incur higher bankruptcy cost, the cost do not appear to be directly proportional to market value. While Warner supported the direct bankruptcy cost, Baxter(1967) introduced the indirect bankruptcy cost. He developed optimal capital structure models which incorporated bankruptcy cost. These model show that the value of a firm is maximized by increasing the level of debt financing to a point where the marginal present value benefit of the tax shied equal the marginal present value of the cost of bankruptcy. Extentions of the Modigliani-Miller theory have been provided by many researchers. Titman(1984) refers the idea of indirect bankruptcy cost . He argues that stakeholders not represented at the bankruptcy bargaining table, such as customers, can suffer material costs resulting from the bankruptcy. He shows that the bankruptcy status may occur according to the firm ‘s liquidation decision. He pointed out that the firms end up with the cost that can impose on their customers, suppliers and workers by liquidati ng are relevant to their capital structure decision. Titman and Wassels (1988) refer there are plenty of authors have suggested that leverage ratio may be related to the firm size. They proved that direct bankruptcy costs seem to constitute a larger proportion of a firms value as that value decreases. The large firm tends to be more diversified and less prone to bankruptcy. As a result , large firm should be more highly leverages 2.4 The Pecking order Theory There is an argument that there is not necessary to find an optimal capital structure through the theory. Therefore the pecking order Theory refer to the idea that the investment is financed first with internal funds, reinvested earnings primarily and then by new issues of debt and finally with new issues of equity. New equity issue are a last resort when the company runs out of debt capacity. (Brealey and Myer 2008) In contrast to the static trade off theory Myers(1984) summarizes the concept of pecking order theory as follow: 1. Firms prefer internal finance. 2. They adapt their target dividend payout ratios to their investment opportunities, while trying to avoid sudden changes in dividends. 3. Sticky dividend policies, plus unpredictable fluctuations in profitability and investment opportunities mean that internally generated cash flow may be more or less than investment outlay . If it is less,the firm first draw down the cash balance or marketable securities. 4. If external finance is required, firms issue the safest security first. That is ,they start with debt,then possibly hybrid securities such as convertible bonds,then perhaps equity as a last resort. Base on the theory,there is no well-defined target debt-equity mix because there are two kinds of equity,internal and external,one at the top of pecking order and one at the bottom. Each firms observed debt ratio reflects its cumulative requirements for external finance. Brealey and Myer (2008) explain why the most profitable firms generally borrow less not because they have low target debt ratios but they dont need outside money. In the opposite way ,less profitable firms issue debt because they do not have internal sufficient fund for investment and debt financing is first resort for external financing following to the pecking order theory 2.5 The agency cost Previously Modiglini and Miller theory(1958) ignored taxation. Since then 1963 they amended the model by implication corporation tax. From that point it is suggested that the higher the level of taxation, the lower the combined cost of capital. That means if the firm use higher level of the gearing ,the higher the value of the company. The company financial strategy should choose a 99.9% gearing level However in practice most of the firm can not go for high levels of gearing because according to Modiglini and Miller theory is still far from perfect. They distort the problems which can occur from raising high level of gearing such as bankruptcy risk. There is the possibility of bankruptcy as gearing increase result in increase the WACC and the value of the share price reduce. Agency cost is also the main problem does not exist in Modiglini and Miller theory. Jensen and Meckling (1976) argued that the combination of debt and equity does affect the cost such as agency cost, bank ruptcy cost and so on. The benefit of tax saving of raising debt produces an optimal capital structure less than a 100% because the benefit form tax is traded off offset the likelihood of incurring the costs. Jensen and Meckling(1976) define an agency relationship as a contract under which one or more persons (the principal) engage another person (the agent) to perform some service on their behalf which involve delegation some decision making authority to the agent. If both parties to the relationship are utility maximizes, there is good reason to believe that the agent will not always act in the best interest of the principal. In addition, they identify and examine the concept of agency costs by generating the existence of debt and outside equity. They found that bondholders agency cost move in reverse direction. It is falling when the level of debt increase. Thus,it follows that at some point the minimum cost of agency will exist by combined the firms debt and equity securit ies. 3. Research objective The main objective for the corporate finance to study capital structure is to review the literature of capital structure in different theories according to their effect on company value and test the implication of theories that seek to justify an optimal capital structure Since 1958 Modigliani and Miller model stated that the value of the company is irrespective to the capital structure. Based on that model MM make assumption for the perfect market so they ignore the tax issue , losses from bankruptcy cost , the agency cost and so on. As a result there are several literatures have been expanded from Modigliani and Miller model. Thus, this study paper is seeking for investigation and gives the explanation for the existence of optimal capital structure and the financial performance. The aim of this research is to answer the question whether the relationship between the capital structure and the value of the firm. 4.Research Methodology In order to answer the question of the project . It is necessary to set up the hypotheses then answer them. The hypotheses to be tested for this project are as follow: HO : There is no a significant relationship between capital structure and their total market value in the Stock Exchange Thailand (SET) H1 : There is a significant relationship between capital structure and their total market value in the Stock Exchange Thailand (SET) Sampling Method Additionally, this study also gain the data from sampling method. It is very practical and to prove that the project is reliable by identify the group of data which is the listed firms of energy and utilities sector in the stock exchange Thailand (SET). The project represents 25 listed companies ,the total amount of the share is 287,181,000 and the market value is 8,551,158,000 baht. It can be stated that the market value of the share for group representative is significantly more than half of the whole total market value(19,130,000,000baht). Therefore they can be good sample of the project. Explanatory Variables It is important to justify the variables that do affect the company value In this study there are as follow: 1.Earning per share (EPS) Earning per share is widely used to measure company success therefore it is the basic tool to indicate the company performance. Earning per share = profit after interest, after tax and after preference dividends/number of ordinary share in issue 2. Gearing Gearing is used to measure of risks. High gearing mean high risk . Gearing = Total Debt/shareholder equity 3. Dividend per share (DPS) The dividend per share is calculated to show the shareholder how much of the overall dividend payout they are entitle to Dividend per share = total ordinary dividend/total number/total number of share issued 4.Return on equity (ROE) Return on equity measures how much profit a company generates for its ordinary shareholders with the money they have invested in the company. ROE = Profit after tax and preference dividends/Ordinary share capital plus reserveÃâ€"100% 5.Data collection Methods Research design mainly focuses on data collection and sources. Therefore to research for this project will use the quantitative analysis by use the secondary data that has already been researched because of limited resources. The second data can collect from the journal of finance Economics, Journal of Banking and Finance, textbook from library, the stock market data, the financial annual report and so on. Most of the source of data such as financial statement , dividend payout ,the data from stock market to use calculate the variables is mainly available from website https://www.setsmart.com. It is the source of data open public for the investor who interested to buy the share in stock exchange Thailand (SET). However to acquire the information must have the username and password. 6. Project Planning Process Aug09 Sep09 Oct09 Nov09 Dec09 Jan10 Revised literature review * Data analysis procedures customization * * * Development of the detailed methodology * * * Secondary data collecting * * * Secondary data analysis and interpretation * * Preparing questionnaire for interviews * * Carrying out interviews * Transcribing interviews * Chapters writing and coordinating with supervisor * * * Summarized analysis of findings * * Draft Conclusions * Draft Recommendations * Final conclusions, recommendations * Project Final submission * 7. Bibliography and References Brealey,R.A.and Myers,S.C.and Allen,F.(2008) ‘Principle of Corporate Finance.9th edition.Boston:Mcgraw-Hill/Irwin Graham,J. and Harvey, C. The theory and practice of corporate finance : evidence from the field.Journal of Financial Economics 60 (May/June2001),pp.187-244. Groth, J. and Anderson, R.(1997), capital Structure: Perspectives for Managers,Management Decision Jensen,M.C.and Meckling,W.H.(1976) Theory of the firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, Vol. 3, No. 4,(July 1, 1976).Available at SSRN:https://ssrn.com/abstract=94043 10.2139/ssrn.94043.(accessed:24/08/09) Modigliani, F.; Miller, M. (1958). ‘The Cost of Capital, Corporation Finance and the Theory of Investment. American Economic Review 48 (3): 261-297. Available at https://www.jstor.org/stable/1809766.(accessed:21/08/09) Modigliani, F.; Miller, M. (1963). ‘Corporate income taxes and the cost of capital: a correction. American Eco nomic Review 53 (3): 433-443. Available at https://www.jstor.org/stable/1809167. (accessed:22/08/09) Myers, S.C., 1984, The Capital Structure Puzzle, The Journal of Finance, Vol. 39, No. 3, Papers and Proceedings, Forty-Second Annual Meeting, American Finance Association, July, pp. 575-592 Myers,S.C.(1984)The capital Structure Puzzle. The journal of finance,Vol.39,No.3,(July 1984),pp575-592. Available at https://www.jstor.org/stable/2327916.(accessed:23/08/09) Oscar,B.U shaped cost of equity function? Digging into Modigliani-Miller(1958)Mistake'(September2006). Available at SSRN:https://ssrn.com/abstract=934550(accessed:21/08/09) Titman,S.(1984).The effect of capital structure on a firms liquidation decision.The Journal of finance Economics 13 (March 1984),pp.137-151. Titman,S.and Wessels,R.(1988) ‘The Determinants of capital structure choice.The Journal of finance Economics43 (March 1988),pp1-19. Available at https://www.jstor.org/stable/2328319?seq=6.(accessed :23/08/09) Wald,J.K.,How firm characteristics after capital structure : An International comparison.Journal of Financial Resarch22 ( Summer1999),pp.161-187. Warner,J.B.(1977)Bankruptcy Costs:Some evidence. The Journal of Finance,Vol32,Issue2, (May,1977),pp337-347.