Reformation of the 16th Century

The Protestant Reformation ignited a religious reform movement that separated the western Christian church into Catholic and Protestant groups. Martin Luther embarked on a Journey to start the religious reform movement; there were other developments before him that set a foundation for a religious alteration in the sixteenth century.The Protestant Reformation allowed for Protestantism to flourish throughout Europe, united the Roman Catholic Church with Christian denominations, enabled people to develop independent thinking and creative, fostered etermination in people to attain religious and political freedom, and allowed for Christianity to evolve permanently throughout history. Johannes Gutenberg of Mainz helped produce the development of printing from a moving type. In Europe there were thousands of printers that published religious books like the Bible, sermons, Latin and Greek classics, legal handbooks, and works on philosophy.This type of development manifested an â€Å"immedi ate impact on European intellectual life and thought† (Duiker 429). This kind of invention fostered creative thinking and determination in people to study scholarly resources. Printing allowed the European civilization to disperse new religious ideals. This communication throughout Europe played a major role in enabling people to acquire newfound knowledge and formulate beliefs of their own. Many historians state that Desiderius Erasmus â€Å"laid the egg that Luther hatched† (History 1). Erasmus was an influential Christian humanist.Christian humanism or northern Renaissance humanism combined the ideas of the classical Italian Renaissance with the ideas of early Christianity. According to Christian humanism, a society must alter the human beings that compose it. They strongly believed that people are smart enough to formulate their own ideals and beliefs. They did no have to solely depend on an irrational religion for happiness and salvation. Erasmus was most influenti al in teaching that religion should be a philosophy for a direction of life, not a source of arbitrary practices and rituals, which is what medieval religion emphasized.Erasmus also placed an emphasis on teaching the philosophy of Jesus Christ. Erasmus did not approve of the abuse of power of inside the church. The opposition towards a dogmatic religion encouraged the Christian and northern Renaissance humanists to stand against the orruption of the Catholic Church; they gave mankind hope and encouragement to believe in themselves, and to fight for freedom of religion. Another factor that influenced people to start a reform was the corruption of the Catholic Church. The all-powerful Roman Catholic Church labeled any non-believer as a heretic; punishment included being burned at stake.The Catholic Church's power was assembled over centuries, and depended on the lack of religious education and unawareness of people. People's primary motivation of believing in the Catholic Church came from the belief of salvation to heaven though the Catholic Church. Any other belief was disregarded. The realization that many popes were not committing to the needs of the church and people outraged many people in Europe. Many popes' interests were not focused on the spiritual uprising of religion, but worldly interests like power and wealth The process ot salvation was becoming a traud.This ignited hate and bitterness towards the Catholic Church and stimulated the idea for change and reform. The Catholic Church strongly emphasized that good works and strong faith were the gateway for personal salvation. Martin Luther had a strong opposition o that idea, even as a monk and professor at the University of Wittenberg. Through personal study and dedication to religion he discovered that no weak and powerless human being could do enough good works to achieve salvation. He believed that through a powerful faith and the sacrifice of Jesus Christ, that alone was enough for people to achiev e salvation. Justification by Faith† (PBS 1) became the primary belief of the Protestant Reformation. Luther's repulsion of Catholic Church teachings enabled him to create the Ninety-Five Theses, which opposed the sale of indulgences and revolted against clerical abuses. According to many historians this was the beginning of the Protestant Reformation. The Ninety-Five Theses were quickly created and disseminated throughout Germany. Luther encouraged German royalty to overthrow the idea of salvation though the Catholic Church.His idea of salvation through faith alone was widespread and becoming acceptable to many people. The Roman Catholic Church was outraged and did not accept his view of salvation. The Catholic Church believed that he was to be excommunicated from the church in 1512. When Luther was summoned to appear to the Holy Roman Empire and to â€Å"recant the heresies† (Duiker 431). He responded by rebuffing and making a statement that â€Å"became the battle c ry of the Reformation† (Duiker 431). This angered the members of Reichstag, who ordered Luther to be detained.Luckily for him, Fredrick of Saxony protected him. A revolution was manifested upon Luther's religious ideals; this revolution changed the European Civilization forever. Luther's popularity fostered from hatred and dissatisfaction with the greed of wealth power, corruption and dogmatic ideals of the Roman Catholic Church. The marriage between Luther and Katherina von Bora demolished the idea of clerical celibacy; his marriage ighlighted the life of a Protestant minister with a family. German rulers strongly supported Luther; they quickly acquired control and supervision of the German churches.Luther emphasized that the churches focus on the preaching the Word of God and Bible study. In Luther's eyes in was necessary to abolish Catholic Mass and gravitate towards new religious services. All of these changes highlight the metamorphosis that Christianity was experiencing. People who believed and promoted these new ideals were complacent with a new religious experience. In 1 519, Charles V ruled a vast empire, composed of Austrian lands, part of Italy, Spain, nd other territories. Though election he was granted the Holy Roman Empire title.His idea was to â€Å"preserve the unity of his empire in the Catholic faith†(Duiker 432). By this time, Germany detached it self from the idea of imperial ruling; this disintegrated any loyalty to the Holy Roman Empire. In 1546, Lutheranism was the prominent belief and practice throughout Germany. Charles Vs effort to bring combat and war to disintegrate Lutheranism was a failure. This failure encouraged Charles V to create the Peace of Augsburg, which granted freedom to German states to choose between Catholicism and Lutheranism.The expeditious spread of Lutheranism and Protestant beliefs reassured that Christian unity was no longer a possibility. Switzerland had a prominent role in the Protestant Reformati on. The revolution sparked upon Ulrich Zwingli. Zwingli ignited religious changes in member states of the federal states of Switzerland and the city of Zurich. Evangelical reforms took over these areas. For example, Mass was replaced by services that promoted biblical study and prayer, relics were destroyed, and pope's authority was no longer accepted.His primary source of support came from the people of Zurich and the agistrate, known as Mark Reust. Zwingli created an alliance with the German rulers, and Martin Luther. In 1513, rage and dissatisfaction festered between Catholic states and the Swiss Protestants. This created a war that led to Zwingli's death, his responsibility and loyalty to manifest change in Switzerland was handed down to John Calvin. John Calvin was a practical theologian who organized the Protestant reform. His conversion to Protestantism led him to escape his native France to Switzerland.His beliefs coincided very closely with Luther's beliefs. A unique belief that he promoted was the idea of predestination. Predestination was a belief that â€Å"God predestined some people to be saved, and the others to be damned, both who He would admit to salvation, and whom He would condemn to destruction† (PBS 1). Calvin also emphasized absolute sovereignty of God; he called it the â€Å"power, grace, and glory of God†(PBS 1). His reputation and credibility arose from his publication of the Institutes of the Christian Religion, an integration of Protestant beliefs and stands.In 1536, he expanded his revolutionary Protestant reform to the city of Geneva. Calvin created The Consistory, a governing body that attested to moral virtue nd discipline, and enabled a systematic way of including clergy and laymen in church service. The success that was fostered upon Geneva, allowed for missionaries to travel throughout Europe and infiltrate all of Europe with Protestantism. The city of Geneva stood as a Protestant citadel that gave success to th e religious reform. The Anabaptists were radical promoters of the Protestant faith, who also played a pivotal role in the reformation.Their concern was to return to practice and religion of early Christianity, they emphasized equality in all believers. Separation of Church and State was something they strongly advocated. They did not see any benefit of the government dictating the Jurisdiction of religion. The Anabaptists opposed the idea of baptism in infants. Magisterial Protestants and Roman Catholics grew hostility and hatred towards the Anabaptists because of that belief. That is why they were heavily persecuted in the sixteenth century. The English Reformation played a pivotal part in the Protestant reformation.King Henry the VII was seen as selfish glutton. Surprisingly his strong desire to divorce Catherine of Aragon, his first wife made the English Reformation a more political than religious cause. The pope refused to grant Henry VII's request to divorce Catherine of Aragon for Anne Boleyn. His attention then focused on the archbishop of Canterbury, head of the highest court in England. The archbishop condoned a divorce and annulled King Henry VII's first marriage. Soon after Anne became queen she had a child, whom was a girl.This infuriated King Henry VII because he did not have a son to inherit his throne. This anger encouraged Henry VII to promote separation of the Church of England with Rome. This was known as the Act of Supremacy in 1534, it declared that the King was in complete control of the doctrine and Church of England. During Henry VII's reign, Archbishop Cranmer attempted to reform the administrative and religious ruling. Shortly after this, Henry VII died and left his ruling to his underage son. Cranmer took advantage of this situation by directing the Church ot England in a Protestant direction.T manifested new Protestant services and ideals in the Church of England. Mary a Catholic succeeded Edward VI. Her nickname â€Å"Bloody Mary' was no understatement. Her primary concern was for the Church of England to return to Catholicism; she murdered more than 300 heretics who opposed Catholicism. Ironically, her actions ed for England to become more Protestant than ever before. By the mid-sixteenth century, the Roman Catholic Church no longer dominated Europe. Protestantism was infiltrating all of Europe and becoming more dominating and accepted.Due to this nature, the Catholic Church underwent a reformation of its own known as the Catholic Reformation. The Catholic is divided in to three parts known as the Jesuits, a reformed papacy, and the Council of Trent. Ignatius of Loyola, Spanish noblemen, founded the Society of Jesus. This society accepted the directing of the pope and promoted the principals of obedience to the papacy, and hierarchical ruling of ociety and civilization. They fostered missionaries to explore Asian countries to convert people to Catholicism The reformed papacy was another aspect of the Catholi c Reformation.Pope Paul Ill took the initiative to create a reform to team to hold Catholic Church's accountable and enforce discipline. Through this he was able to create the Council of Trent and gave recognition to the Society of Jesus. In 1545, church officials gathered in the city of Trent started the Council of Trent. This Council of Trent met continuously though three different sessions in the sixteenth century. Their ideas coalesced and they came to the conclusion that the â€Å"selling of indulgences was prohibited, both faith and good works were required for salvation, and only the church could interpret scripture† (Duiker 438).This manifested one doctrine and religion under the Roman Catholic Church. The Protestant Reformation had significant impacts in the foundation of our world nations. This impact allowed for the re-establishment of political and religious views throughout the European civilization, challenged the authority of the Catholic popes, and led to mode rn concepts of democracy. This reformation is key to understanding how religion has laced an importance in the foundation and building of every nation in our world.The fight for equality and freedom will always be an obstacle throughout history; understanding the struggle, rebellion, and motivation to fght that many people faced in reformation, allows for our world to become educated and motivated to strive towards a better world.

Classical Approach to Management Essay

The classical school of thought, established in the late nineteenth century, was composed of the writers who first contributed to organisational theory. Over the last one hundred years, the perception on management has evolved significantly. However many of the original views devised by the classical theorists are still evident. The theories formulated by Henri Fayol, Max Weber and Frederick W Taylor focus predominantly on efficiency, leading to a rational perspective on management and organisations. This essay will discuss the opinions portrayed by these writers and demonstrate that their approach remains relevant today. Henri Fayol suggested management should be classified as a separate activity in business. Within this managerial class he composed five primary objectives that managers should follow and adhere to. These were to plan and forecast, organise, command, co-ordinate and control. He also determined fourteen principles of management, which included specialisation, authority and unity of command. Fayol’s approach seemed very logical and rational, regarding management as a science – something that could be taught. He believed his principles could be educated to managers and as a result, encourage them to manage more efficiently. Fayol was a lucrative businessperson and his research was based upon this success. This led others to believe his findings were more plausible. Fayol’s work could be deemed as being too idealistic and to a certain extent some of his principles could be classed as being rather old-fashioned. Much of his work is based upon the assumption of compliant labour, however in this modern century employees are not always happy to oblige to new procedures or regulations. On the other hand, his identification of distinct managerial activities is still able to influence modern day managers. His principles can be commonly found in twenty first century organisations. The specialisation of labour sees large corporations broken down into smaller departments such as marketing, finance and human relations whilst remuneration of personnel sees workers being rewarded in the form of wages and bonuses for their efforts. Although Fayol’s observations were derived from an economy dissimilar to our present one, his efforts very much provide the basic building blocks to the more modern and dynamic style of management. Max Weber was concerned with the structure of authority and identified three sources. Firstly, charismatic authority, often indicated by politicians, is when a person is able to persuade others through their personality. Secondly traditional authority, when authority is passed on from one generation to the next, is frequently seen in monarchies and family run firms. Thirdly rational-legal authority, when an individual has power through the position they hold due to experience or ability. It is the last example, Rational-legal, which is the main form of authority in modern society. Weber is responsible for introducing the term â€Å"bureaucracy†, a type of organisational structure, which has been developed from the principles of rational-legal authority. Although a bureaucratic organisation repels the use of charismatic authority and has a definitive hierarchical structure, there tends to be a high level of efficiency because workers are normally following a designated set of tasks whilst adhering to set rules. This can particularly be seen in large fast food chains e. g.  McDonald’s and Burger King, whereby employees have different roles within the organisation which contributes towards a sustained level of efficiency and productively. Work is centred on achieving goals instead of the need to innovate and be creative. Other examples are government organisations, the military or large monopolistic companies such as royal mail, which all focus greatly on specialisation and efficiency. Weber’s approach to management is shown in today’s police force, which has a definitive authority structure and is effective at delivering a productive service to society. Frederick W Taylor developed ideas on scientific management. He conducted numerous experiments on activities such as shovelling and bricklaying, in order to maximise efficiency and productivity throughout the workplace. He achieved this by simplifying procedures and enhancing specific variables in order to ascertain an optimum level. Taylor’s efforts are evident within the Bethlehem Steel works, where productivity was increased by four hundred per cent. There is a great degree of controversy surrounding Taylor’s theories, the main criticism being his dehumanising approach. Workers are often likened to resources, a lack of regard is experienced towards their feelings and the opportunity for individuality is limited. However, his findings do lead to efficient production levels and wages are distributed accordingly to performance levels. The quotation â€Å"a fair day’s pay for a fair day’s work†, often expressed by Taylor, is limited in modern times due to the introduction of a minimum wage. However, remuneration is achieved in the form of bonuses. There is a lot of evidence of Taylorism being used by a wide variety of industries in the twenty first century. The McDonald’s franchise is a modern example of a corporation who operates using scientific management. The roles and tasks to be undertaken are made clear to staff and the process of ordering and supplying a good to the consumer remains the same in every single outlet. The service provided by the staff, outlet and ultimately brand, remains consistent. Taylor’s theories have also been closely linked to Henry Ford and in modern automobile production plants, as well as call centres, fast food chains and countless other mass-produced goods such as computers  Although the classical school were dominant in a previous century, much of their work is still evident in contemporary management styles; in particular Henri Fayol’s and Frederick Taylor’s. The ideas put forward by the classical theorists were in effect, a set of rules on how to manage. There is little room for flexibility, which is not the case in this modern economy – which is very dynamic. Companies are focused on globalisation, consumers have different desires and needs, attitudes towards careers have changed and technological advancements have led to people being replaced by machines to complete simple or tedious tasks. With that being said, the classical school has a huge influence on the way managers behave in today’s society. Fayol’s five managerial objectives are repeated throughout the office and the scientific approach is frequently seen by planning tasks and assigning them to individuals who are most appropriate for them. The classical approach has provided a fundamental basis for management, not only in the past and present but also for the future.

As Natural Gas Cools, Trading Sizzles Research Paper

As Natural Gas Cools, Trading Sizzles - Research Paper Example The discussion explains this characteristic by use of the laws of demand and supply in relation to price. The discussion winds up by looking keenly into the words of Wall Street journal reports on the trade benefits if gas prices drop in the short term only to rise in the long term. Increased Trading and Investing Over the past 3 months, the prices in the natural gas have fallen by 53%, hence, revenues for the investors who had invested heavily then are very low. Surprisingly, with the fall in price, the industry has experienced more interest from traders of the commodity than it had witnessed last year at any one point. This has been explained by the fact that as prices have been falling; the transaction costs of the commodity have proportionately been falling too. Many of those investing today are basing their decision on the future expected increases volume in trading expected at 31% increase. The number of new contracts being signed went up to 2.53 million contracts representing a rise of 20% when compared to the same period last year (Cui And Dicolo). Explanation/ Analysis Some investors are investing in the value and the trend in the industry. As the prices continue falling, it is expected that the demand of the natural gas will go up and since the market is far from saturation, the investors want to heavily invest at least in the short run as trading continues plummeting. On the other side, some traders expect that this is the lowest price that the commodity can be traded and that soon, in the long term, the prices will go up and they can in the long run continue trading at the normal or even at a higher price (Cui and Dicolo). Therefore, this is bullish and a bearish market with benefits for both investors. The supplier has flooded the market especially with the newfound shale gas discovery. Since the demand of the natural gas was static with new discovery, the supply outstripped this demand lowering the prices. At 2 dollar’s range, many of the i nvestors who are entering the market expect that with this rock-bottom state in the prices, they can continue trading at a loss or at least minimal returns on their investments because the prices will soon go up. However, analysts are warning that this may not be the rock bottom in essence. Last year, many investors speculated that then the prices were at their lowest only to be surprised that they dipped even lower this year. As Hyland explained, â€Å"just because the price of natural gas is trading at 2 dollars it should not automatically mean that they cannot go lower.† These words came true to one Mr. McLane the president of an asset management company who invested in the industry in the hope that the prices were at their lowest only for them to continue on a free-fall this year and he then had to close his position (Lowenstein 14). On the idea of trading on volatility, managers know that it may be profitable to ride in this wave of anxiety. More people are willing to in vest in this anxiety than those who are quitting the market. Hence, with various guarantees, some firms are lending out funds to those who are willing to risk in the hope that future prices will go up. To them, it is not about how the bet will go only that whichever way it goes, they will reap their capital and the interest rates that they are lending at. These are the benefits that the capital markets are making out of this volatility. Just like every other

A Case Study of Ping an Life Insurance Company of China Dissertation

A Case Study of Ping an Life Insurance Company of China - Dissertation Example In the competitive markets, development and maintenance of good customer relations are indispensable for the success and survival of an organization in the long term. In this context, the concept of Customer Relationship Management (CRM) has evolved and it has gained significant importance in the global business scenario. In the emerging markets, customer management theories are being practically considered in the decision making processes of business firms. At present, Chinese firms are increasingly applying the CRM system with the aim of facilitating good customer relationship. In the competitive framework of the market, choices and decisions of customers play an important role in the performance of businesses. Customers are the key element that plays an important role in the survival of business firms (Cheng, 2005). CRM systems allow firms in China to focus on the customers and take greater care of their demand through more personalized service offerings (Dyche, 2002). It has been found through research that winning a new customer is almost five times more costly to a firm than retaining the existing customers. On the other hand, an additional 5 percent of existing customers are capable of increasing the profit by nearly 100 percent (Cheng, 2007). This shows that it is very important for management to implement the CRM system in their organizations. CRM is one of the modern day developments that have taken corporate organizations to a greater level of business. Chinese firms are adopting the CRM system fast. This process involves the implementation of software that would record the details of the company’s relationship with its customers through the performance of various indicators. Several advantages have been found to be associated with the process of CRM and various benefits accrue to the companies that implement this system. However, certain limitations are also associated with the process of CRM. Ping An Life Insurance Company of China, Ltd. rec ognizes the importance of CRM. The company was established as a major subsidiary of the parent company, Ping an Insurance (Group) Company of China, Ltd. In the year 2002, Ping was the first company in China that had a shareholding structure. Gradually Ping An Insurance Group has grown and has begun offering various financial services including insurance products as core services and banking, securities, and investment services as tertiary businesses (Ping An, 2009). The CRM system helps the organization to focus on the business processes, marketing processes and customer service offerings of the company. This leads to the development of client relationship and maximization of ‘customer value’ in long run. In essence, implementation of CRM has brought a shift within the company from being a production-oriented organization into a customer-oriented organization. After implementing CRM, the company improves its communication channels. The information technology (IT) system acts as a coordinating agency across the different levels of operations (Kanji, 2002). Since the organization becomes more customer-centric, it also needs to train its employees in order to make them more involved in the business process and more efficient.

Criminology 101 Essay Example | Topics and Well Written Essays - 1250 words

Criminology 101 - Essay Example (Longshore, Turner, and Stein 1998). The general theory of crime presupposes that while an individual's personality, that is, their ability to exercise self control remains stabilized but the crime level continues to change. Sampson and Laub however, posit that their age graded life course perspective demonstrates that an individual's behavior changes also as a result of social circumstance. Further, they posit that it is the changes within the life course and not necessarily self control that will mandate the level of crimes that a person may or may not commit. Accordingly, the presented assertions offers various theories in regards to what will constitute a likely offender. All of this notwithstanding there is a shared common denominator as per causal process:for Gottfredson and Hirschi, it is succinctly defined as the emotional investment of the parents. Meaning, if the parents have emotionally provided for their child, then it would follow that the child is able to show and demonstrate self control; for Sampson and Laub, it is the emotional attachment of a prior offender to a place of employment of a relationship of status such as marriage that ultimately paves the way to desistance. This similarity allows them to be linked using a psychological theory of deviance called attachment theory. While I can understand the g... It is also generally understood that we are all exposed to different experiences in our lifetime, some positive and others horrendous. Nobody processes or internalizes their experiences in the same way. What is harmful or traumatizing to one person is not necessarily so for another. As a result, our future behaviors may or may not be influenced by our past and our interpretation of it. As a result it cannot be said that a single theory can explain any crime that we may commit. To say that a single theory can explain every crime is to also say that a single theory defines all human nature. Because it is already known that no two people are the same, no single theory can be employed to explain their behavior good or bad. Accordingly, I don't agree that there is any general theory of crime. For the past ten years, there has been a myriad of reports on boot camps in the United States. These are commonly known as "shock camps". The purpose of these camps was to literally start a "get tough program which was military based. The camps include extreme physical labor, drills and a military schedule which is highly structured. The military shock camp started in the southern part of the United States and was applied to male prisoners. It is now used in the juvenile system as well. The Canadian system was created to introduce what is perceived as the best part of the Canadian military system along with the youth programs that Canada has designed. The hope is that the determination and behavior of the youth will lead to him being promoted. The reward of a promotion progresses into a desire to succeed on the outside world and the structure that boot camp offers allows the offender to graduate the program with a discipline

Leonardo Da Vinci Research Paper Example | Topics and Well Written Essays - 1000 words

Leonardo Da Vinci - Research Paper Example Verrocchio was the name of his teacher who trained Da Vinci in a Florentine studio until he began his art career. Leonardo was 14 years during his apprenticeship. He spent the following years in mastering what the world would later love and remember him. It is significant to mention that the establishment of Leonardo Da Vinci personal workshop at 20 years was commendable1. During his career, Leonardo Da Vinci experienced both pleasant moments in which many people admired him. However, throughout his art existence, Da Vinci equally experienced low moments in which his works were criticized2. For instance, Leonardo Da Vinci was lucky to get numerous rich clients because of the perfection of his works. Leonardo died, 67, as a vegetarian after a life of painting using most inspirations from his life. Leonardo Da Vinci’s highlight was when Lorenzo de Medici, an Italian rich man asked him to design a silver piece of art. The silver lyre which he initiated made him get more orders fr om this rich Italian man. Leonardo’s life focused on respect for nature because of his continuous habit to free birds in to their natural homes. Finally, Leonardo Da Vinci’s life had most celebrations because up to date people still have T-shirts and other sales materials, which have his paintings. Most Famous Paintings Evidently, â€Å"Vitruvian Man, The Last Supper and Mona Lisa â€Å"are the most popular paintings of Da Vinci. In particular, The Last Supper (painted on a rectory wall) began to deteriorate following its creation because Da Vinci did not use the tempera on panel technique. 3The creation of the Last Supper was instantly when Jesus indicated that a disciple would be disloyal to Him. It is unfortunate that a majority of Leonardo Da Vinci works do not survive because of his deep sense of adventure with new technologies. However, even if the painting flaked, there was a recent remodeling of the same in order for people to enjoy viewing it. Moreover, The Mona Lisa is called half a smile because of Leonardo Da Vinci’s unique use of lightning in most of his paintings. In addition, Leonardo kept on postponing the completion of some of his pieces. Therefore, the available work could be perfect if he had more focus. It is also imperative to mention that his early work was called â€Å"The Baptism of Christ†, which he created with Verrocchio. All Leonardo Da Vinci’s renowned paintings display diverse aspects of movement unlike the remaining painters. Characteristics of Leonardo Da Vinci’s Art It is noteworthy to mention that Da Vinci’s works borrow a great deal of the human anatomy. Originally, The Mona Lisa was meant to be a private piece which took two years for the completion of its creation. This Mona Lisa painting is set on a significant light, which enables people to notice the uniqueness of the painting. The most obvious special characteristic about The Mona Lisa is Leonardo’s use of the sm oke technique. Further, this smoke technique makes it hard for anyone to notice the difference between darkness and lightness in the picture. The liquid paint, which Leonardo uses, depicts his understanding of the world to be always in movement4. Additionally, the painting of Mona Lisa is unique because of the unique half smile presented by Leonardo. The face of the woman in the painting is straight to the viewer. However, the rest of her body faces the direct opposite from

Critical review of ITS (Intelligent Transport Systems) Essay

Critical review of ITS (Intelligent Transport Systems) - Essay Example Knowing this, world leaders continue to put so much premium on the need to improve the transport systems that exists in their countries. Commonly, world leaders are only channels and instruments for change, such as changes in the transport system without really having the technique knowhow to effect such changes. To make their change dreams realistic, they fall on professionals and experts to make to translate dreams into realities. It is out of such need for there to be a change in the transport system of West Midlands that the current report has been necessitated to propose a workable transport system for the city. As modernity and technological advancement takes the best part of everyday engagement, the transport system that is to be proposed is fused in the model of intelligent transport system, which generally refers to the application of information and communication technologies in the area of road transport and its interface with other modes of transport (Dusan and Gordana, 2 000). A holistic approach shall be taken to the proposal by first identifying needs of travellers and then going ahead to review existing systems before laying bare the proposed system as is reflected in the needs and existing systems. 2.0 Review of Travellers’ Needs Travellers of West Midlands have travelling needs that is manifested in their day to day travelling experience and the common forms of challenges that come out of them. There are a number of specific behavioural studies that have been conducted to identify most of these needs, based on which any workable intelligent transport system must revolve. Some of the core needs of travellers as reflected in behavioural studies are analysed below. Generally, the needs are based on an integrated model, which means that the needs are integrated in such a way that to solve them in a holistic way, an integrated system that attempts to deal with all the problems at a time must be used. 2.1 Easy Access to Services Different citi es have their peculiar transport needs and for West Midlands, one of the worse forms of transport challenge that the city has been found to be faced with the problem of access to transport services (Jean-Francois and Laporte, 2007). Studies have showed that there are a number of reasons that makes this problem, and thus the need for service users to have easy access to transport services emergent. In the first place, the city has been found to be highly dependent on public transport as compared to private transport (Handwerk, 2008). This means that a lot of the people would want to join public bus, train, or use public cargo as against the use of private means of transport. As part of the behavioural or ethnographic characteristics of the people, it has been found that the preference for public transport is generally due to the need on being conservative and economical on the cost of transport (Colorni and Righini, 2001). There have also been a number of public advocacy programs tha t have been aimed at convincing people to choose public transport over private transport as public transport helps in reducing traffic congestion and the rate of carbon emission (Luca, Raffaele and Ukovich, 2006). However as dependence on public transport increased, there seem to have been an imbalance in demand and supply ratio for transport services, as many people and companies find it

Exam essay Example | Topics and Well Written Essays - 750 words

Exam - Essay Example Family owned businesses tend to feel that the business environment around them is not secure enough for them to venture into the unknown (Cromie et al. 1995, p.11). Lyman Orchards is an example of such a family owned business venture which, despite having existed for more than two hundred years and been run by multiple generations of the Lyman family, it has not been able to grow into a multinational conglomerate as has been the case with non-family businesses such as McDonald’s and Target. Moreover, unlike non-family businesses, family businesses do not rely on formal planning and instead, their management systems are based on less formal control as well as fewer incentives. The informal nature of such businesses is often based on their being wholly owned and managed by members of the same family and these do not need personal incentives to work in the business because they work for themselves. In family businesses such as Toyota and Samsung, members of their founding families have been active members since they were founded and this has been as a result of the long tradition as well as personal interest that has been established over the years. When it comes to finance, non-family firms have the advantage because they can easily gain finances through making offers at the stock market (Coleman and Carsky 1999, p.73). This is not the case with family firms, which if the owners do not have ready finances to invest in the business might bring about financial ruin. Therefore, while family owned businesses are more likely than not to achieve greater profitability than non-family businesses, the latter have an advantage because they achieve higher growth levels. A family business such as the Trump Organization faced some financial problems in its history as a result of being internally financed by the owners and such a scenario becomes extremely

Law of Attraction Fact or Folly Essay Example | Topics and Well Written Essays - 750 words

Law of Attraction Fact or Folly - Essay Example The followers of concepts like law of attraction often find some of their wishes coming true immediately and the other few eluding them for their life. For example, they might get an intuition that some of their closed kith or kin might get caught in an accident which might eventually come true. But, they will be unable to predict sudden unemployment in their own life. Law of attraction is an art or a talent which can be perfected by constant practice to generate abundant prosperity. It can be made to work flawlessly, every time a person visualizes something provided they have the potential to garner such mighty energy. Law of Attraction – A Folly If thoughts become realities, why do people suffer? It is only logical that no person ever wants to suffer from a disease or be poor. Everybody shares the big American dream. Every person from a toddler to a hundred year old man wants to live life to the fullest. But, what makes them suffer from dreadful diseases like cancer causes unaccepted accidents and keep certain people revolving in poverty forever? Certainly, no person visualizes suffering. If law of attraction is true, why doesn’t a person eradicate all the evils from the world like war and disease just by thinking? Books like "The Secret" reinforces what we psychologists call 'argument from authority'. They quote several verses from great minds like Thoreau to Jesus and link them in favour of the law of attraction. The reader is given a message that both St. Augustine and Oprah Winfrey attained great success only through the law of attraction (Chabris & Simons, 2010).... Law of Attraction – The Fact Law of attraction mentioned in the movie secret is one of the most misunderstood ancient concepts interpreted in a factually distorting way by the modern gurus. The book and the movie packaged the concept very commercially that any person watching them will actually feel there is nothing one has to do except to visualize to reach great heights in the world (Kumar, 2009). Law of attraction is a sort of action inducer which will guide the person in the right path if they are able to visualize their destination very clearly. Our mind is like a computer. It gives us back what we think. The concept of garbage in – garbage out fits perfectly to our subconscious mind. Visualizing diseases and poverty – No person can consciously visualize disaster or disease. But, thousands of people have a hidden fear about the same. A patient who thinks about diseases often and hates everything related to hospital will eventually end up there for a long per iod. He will lead a healthy life if he focuses on thinking about leading a healthy life and visualizes indulging in lots of sports related activities. A prospective bride can either think he will never marry a lawyer and end up marrying one or alter her thoughts to think she is marrying a pilot and end up doing the same. The law of attraction helps us reinforce our thoughts in a positive way and make it come true eventually. Let us consider a middle aged lady with breast cancer. She will be terrified of what might follow and be scared day and night thinking about the pain and the financial crisis. Her mind will grant her everything she fears of. On the other hand, law of attraction urges her to replace these negative thoughts with

Business law ( a righteous strike ) case study based in oman

Business law ( a righteous strike ) based in oman - Case Study Example According to article 107, the management of a retail outlet has a chance to use the procedures that were approved by competent directorate to negotiate with their workers. The management can engage in a constructive dialog with the retail workers union officials to iron out the issues that are causing labor disputes. The process will involve a comprehensive dialogue where the workers can present their grievances and demands to the managers of the retail outlet for consideration. On the other hand, the company officials can present the facts on the table and explain the company’s ability to comply with the workers demands. Article 107 also outlines the procedure to be followed in resolving such disputes where the company does not have the appropriate mechanisms and procedures of addressing the challenge. For instance, retail outlet managers may apply to relevant competent directorate to act as an arbitrator in the negotiation process. Article 107 B also gives the labor minister the authority to issue directives for requiring the employers to organize a collective bargaining forum to settle the disputes. The minister is also given powers by the constitution to issue a directive to the employer. Start collective bargaining process with their employees with the aim of finding a solution on stalemate due to workers grievances on promotion, working conditions and organizing closures and peaceful strikes. The management of the company has all the above avenues as per the provisions of the Oman labor laws to pursue in resolving the dispute. According to article 33 of the Omani labor laws, the workers of retail outlet are entitled to have a medical cover paid for them by their employers Omanis strike for a better pay and bonus). The labor law requires an employer with more than one hundred employees to hire a nurse who will be going round and offer first aid services to the employees an organization. The article also requires the employer to provide a

Hassans Story Essay Example for Free

Hassans Story Essay Quote: â€Å"The way we see the problem is the problem.† Stephen Covey This quote means to me that when dealing with a problem the first mistake made is calling the problem a â€Å"problem.† When a problem occurs an individual usually automatically begins to attempt to mentally process ways to solve the problem. Problem solving involves critical thinking, and with critical thinking comes a lot of stress. Stress from a problem can be avoided if an individual looked at the situation in a more positive way, rather than automatically thinking negatively. I feel this quote is relevant to the work we do in the class. In this class we focus a lot on one’s self. I believe that the way you think when no one is looking describes your character. For example, one may assume that they have not learned anything from the class, but one with and open-mind would be able to express information that has been learned in the class. Every â€Å"problem† should be approached with an open mind, because when everything has been completed â€Å"you† will still be â€Å"you.† And what that means is, is that life will continue to move forward rather you have conquered the problem or not. I chose this quotation because I felt that it is fitting for anything in life. In life you will always come across a new situation because life is always about change. When attempting to advance, I feel that is when the majority of change comes. You are always going to come across a personality, a strategy, or method that you are not going to like and will take you out of your comfort zone. What is important is that you realize that everything is temporary and too shall pass. Once you’ve figured out that there is no such thing as a â€Å"problem,† rather than it is a â€Å"change† you can deal accordingly because change is inevitable.

Alice walker in search of the garden Essay Example for Free

Alice walker in search of the garden Essay lice Walker’s essay, In Search of Our Mother’s Garden, talks about her search of the African American women’s suppressed talent, of the artistic skills and talents that they lost because of slavery and a forced way of life. Walker builds up her arguments from historical events as well as the collective experiences of African Americans, including her own. She uses these experiences to back up her arguments formed from recollections of various African American characters and events. Walker points out that a great part of her mother’s and grandmothers’ lives have been suppressed because of their sad, dark pasts. But all of these are not lost because somehow, these are manifested in even the smallest things that they do, and that they were also able to pass it down to the very people that they loved. Our search of our mother’s garden may end back to ourselves. Walker builds up her argument by mentioning the experiences of other people in the essay. One of them is Jean Toomer, a poet in the early 1920s. He is a man who observed that Black women are unique because they possessed intense spirituality in them, even though their bodies endure every aspect of punishment in every single day of their lives. They were in the strictest sense Saints – crazy, pitiful saints. Walker points out that without a doubt, our mothers and grandmothers belong to this type of people. By building up on the observations of Toomer, she was somehow able to show how hard it was to be a mother or a grandmother or even just a woman at that time, one reason perhaps is that they are black. The mothers and grandmothers at that time endured all of this without any hope that tomorrow will be different, be better. Because of this, they were not able to fully express themselves. They were held back by their society. Another black character that she used to build her argument is Phillis Wheatley, a Black slave girl with a precarious health. Phillis is a poet and a writer at her own right, but unfortunately, she wasn’t able to do much with it because she was a slave. She didn’t have anything for herself, worse, she didn’t even own herself. Her futile attempts for self expression would be washed up by forced labor and pregnancies. She lost her health, and eventually her life without fully expressing herself through her gift for poetry. Alice Walker used the story of Phillis to establish the understanding that indeed, African American women at that time were not allowed or didn’t have the luxury of time to exercise their gifts, to hone their talents and abilities, and use them to fully express themselves. By doing so, Walker proves that our mothers and grandmothers lived a boxed life back then, with no way to channel to them emotions and thoughts other than hard labor and forced servitude. She pointed out that we wouldn’t know if anyone of them would’ve bloomed to be poets, singers, actresses, because they never really had the chance to know what they can do. By building up her argument using these two accounts, she is also presenting very strong evidence to her claim. These accounts were personal experiences of real African American people, and these are not just isolated cases. These are shared experiences not just by these two but by all of their people. Walker can confidently say that there is a lot of Phillis Wheatley in those times, perhaps including her mother and grandmothers. This is concrete evidence because it is not fictional, it is not imaginary, or something conceived out of Walker’s creativity. Slavery, forced pregnancies, poverty, and artistic suppression were the realities during the time of our grandmothers. No one can deny this, and no one can deny the existence of Phillis or the accounts of Jean Toomer. Considering Alice Walker’s authority in her arguments, she could be considered as an expert, a reliable source of information on the topic. First off, she is an African American woman, who had her fair share of poverty in her childhood. She was born and raised by hardworking parents, who really had to work day and night to provide for their family. Also, she witnesses first hand that even though her mother may not be a poet or a novelist; she was an artist in the truest sense. Her artistic side is manifested in her gardens and the beautiful flowers that she grows. Alice Walker witnessed all of this, experienced first hand what it was like to be poor and seemingly talentless. The accounts that Alice Walker used to prove her points and back up her arguments were African American history that she was all too familiar with. It may have been shared to her by her families, or simply a collective knowledge passed down from one generation to another. She is also well-educated, a wide reader, and an artist. She often cites Virginia Woolf’s A Room of One’s Own, relating a white woman’s plight to a black woman’s hardships. She emphasizes that even though she recognizes Woolf’s point about society’s unfair treatment to women of her time, Walker still believes that black women suffered the most (Walker). There is simply nothing that could compare to the artistic suppression that her mother and grandmothers experienced. In this essay, she is appealing to a general audience, with no specific race or ethnicity. I think this essay was written to highlight the African American women of her mother and grandmother’s time, who were unable to express their talents and hone it to its full potential. This essay is written to inform anyone and everyone reading it about their stories, and of her discovery of her mother’s garden. She was glad to know that it is possible for African American women to express themselves even unknowingly, that it is up to us to discover these â€Å"gardens.† She is appealing to the readers in general that even though some people like our mothers and grandmothers seem talentless or artistically inferior, it doesn’t mean that they really lack the talent. It just means that were not looking hard enough to find it. Alice Walker’s method of using personal experience and historical accounts allow her to truthfully see and say what has really happened. She doesn’t have to make up hypothetical events because she already has a basis for her arguments. Jean Toomer’s recollections and Phillis Wheatley’s experiences are enough proof of her argument. If some people would disagree with what she’s saying, she can always go back to their experiences, to how Phillis suffered without fully using her gift, or what Toomer saw in the streets in the early Twenties. But because of this, I think Walker is somehow limited to the sad and pitiful stories of the past. Well, in reality, most of the stories of African Americans were really sad and pitiful, but still, Walker failed to mention of any successful artist who rose from the ranks of slaves to write her own story. It is either this kind of story really didn’t exist at that time, or Walker just didn’t mention it, since it wasn’t the focus of her essay. Alice Walker concluded her essay by saying that Phillis Wheatley’s mother was also an artist, and that the achievements of their daughters were in some way brought about by their mothers. Her conclusion states that the mother is somehow responsible in every achievement of their daughter. Any artistic output by a person is also a product of their mother. Indeed, their children are their best creations, their very own wonderful gardens. This conclusion is related to her method because it goes back to how Phillis Wheatley’s mother was somehow responsible for her daughter’s artistic sense, and that beyond the poverty and the hardships that our mothers and grandmothers experienced during their times, they were still able to artistically express themselves through their children, their very own wonderful gardens.

Ensure The Success Of Your Business Commerce Essay

Ensure The Success Of Your Business Commerce Essay In order to remain in business, business owners and organisations need to take proactive steps all the time to ensure that their businesses remain at a competitive edge, hence the need to strategically manage the human resources of the organisation to ensure overall success of the business. Human resource management (HRM) is a strategic, integrated and coherent approach to the employment, development and well-being of the people working in organisations (Armstrong, 2009). However, Strategic Human Resource Management (SHRM) is a proactive management of the employees of a company or organisation. Strategic human resource management includes typical human resource components such as hiring, discipline, and payroll, and also involves working with employees in a collaborative manner to boost retention, improve the quality of the work experience, and maximize the mutual benefit of employment for both the employee and the employer. (BusinessDictionary.com) This article will look at different models of strategic HRM, the importance of strategic HRM, an analysis of an HRM framework, the HRM process and the development of strategies as well as an assessment of the roles in strategic HRM. Models of strategic HRM Although there is some acceptance of the idea that strategic HRM should support the strategic direction of the business, there is no agreement on the best way of doing this. Two normative models epitomise the relationship between labour management and organisational strategy. The first is explored in the best practice or universal school. The second approach, where integration between strategic HRM and organisational strategy is an essential feature, is explored in the contingency and configurational schools (Porter, Bingham and Simmonds 2008). Comparison of Universalistic and Contingency models of HRM Universalistic model Contingency model There is an existence of best human resource management practices and all organisations should adopt these best practices. There are not best practices but for effectiveness, an organisations HR policies must be consistent with other aspects of the organisation. A universal relationship exists between individual best practices and the organisations performance. The main contingency factor is the organisations strategy, or the internal and external environment which is described as vertical fit. One single practice leads to a greater organisational performance. They do not consider either synergetic interdependence relationships or integration mechanisms. Many contingent works focus on a single practice i.e. a single practice is dependable on the other to achieve the goal of the organisation. REASONS FOR THE IMPORTANCE OF HRM IN ORGANISATIONS The human resources remains the most important asset of any organisation and the overall importance of human resource management is to ensure that the organisation is able to achieve success through its entire workforce in order to ensure a successful business. In the area of strategy, the HR department improves the organisations bottom line with its knowledge of how human capital affects the success of the organisational as a whole. Leaders with expertise in HR strategic management participate in corporate decision-making that underlies current staffing assessments and projections for future workforce needs based on business demand. It enables the organisation to strategically deal with HR issues which in-turn enables employees to work effectively in order to achieve the organisations goals and objectives. Human resource managements allow organisations to prioritize their organisational and business strategies hence attracting and retaining and the development of competent employees. Another reason of HRM in organisation also lies in its importance as a Legal requirement. The HR department of organisations ensures compliance with employment laws. They complete paperwork necessary for documenting that employees are eligible to work in the U.K. The employment laws also states that employers have an obligation to provide safe working conditions for their entire workforce. Hence, workplace safety and risk management specialists from the HR area manage compliance with U.K. Health and Safety at Work Act 1974 by maintaining accurate work logs and records, and developing programs that reduce the number of workplace injuries and fatalities. Workplace safety specialists also engage employees in promoting awareness and safe handling of dangerous equipment and hazardous chemicals. HRM FRAMEWORK The purpose of the HRM framework is to ensure the adoption and implementation of a fair and transparent process which in-turn will retain the valuable skills and experiences of employees within the organisation. It ensures that effective consultation takes place with employees and their representatives on how these processes will be applied, ensuring effective outcomes for employees, customers and all stakeholders. Harvard framework of HRM Harvard framework is a strategic map to guide all managers in their relations with employees and concentrates on the human or soft aspect of HRM. It was developed by Beer et al in 1984. This framework is based on the belief that the problems of historical personnel management can only be solved when general managers develop a viewpoint of how they wish to see employees involved in and developed by the enterprise, and of what HRM policies and practices may achieve those goals. Without either a central philosophy or a strategic vision which can be provided only by general managers HRM is likely to remain a set of independent activities, each guided by its own practice tradition. (Armstrong, 2009) The Harvard model outlines four HR policy areas as follows: Human resource flows recruitment, selection, placement, promotion, appraisal and assessment, promotion, termination Reward systems pay systems, motivation Employee influence delegated levels of authority, responsibility, power Work systems work design and alignment of people. Which in turn lead to the four Cs or HR policies that have to be achieved: Commitment Congruence Competence Cost effectiveness HRM PROCESS AND STRATEGY DEVELOPMENT HR processes are the basis for the management of customers satisfaction with Human Resources. Customers feel comfortable and their level of satisfaction increases when there is an understanding of the HR processes, how they are connected and how they interact. In order to achieve continuous customer satisfaction these processes needs to be measured and regularly monitored to identify any gaps in the processes and improve on it for the benefit of the all stakeholders. HRM processes The HRM processes consist of the following basic areas: Planning (strategic HR planning, job design) Attracting (recruitment and selection) Attracting applicants from which to begin the selection process. This can either be from internal or external sources. Recruitment is about finding and engaging the people the organisation needs to make up its workforce. Team meetings, notice boards, intranet are methods of sourcing for people internally, and radio/TV adverts, local newspaper adverts, posters, job centre plus recruitment agencies are methods of external recruitment. Selection is assessing the suitability of potential employees and predicting which applicant will be able to carry out a job role successfully. It is characterised by the competence, experience, qualifications, education and training of the applicant. Developing (induction, orientation, training of the work-force, career development, talent management, leadership development, performance appraisal) Training the employee in order to acquire the needed skills for the job. Talent management is the process of identifying, developing, recruiting, retaining and deploying talented people with special gifts, abilities which enable them to perform effectively Retaining (compensation, benefits) HR Controlling HR strategy development HR strategies set out what the organisation intends to do about its human resource management policies and practices and how they should be integrated with the business strategy and each other (Armstrong, 2009). Strategy development is about choosing the most appropriate course of action for the realisation of organisational goals and objectives, in order to achieve the organisational vision. The process of developing HR strategies involves the following steps: Conduct a SWOT analysis of your organization. Determine the Strengths, Weaknesses, Opportunities and Threats/risks that affect the business and organization, focusing on the strengths and weaknesses of the workforce. The current skills of the workforce should also be taken into consideration in order to identify where skills and/or education levels may be improved. After the SWOT analysis, take a look at the organisations overall performance against target(s) for the previous year(s) in order to find out what how well the organisation has done or what problems, issues and/or challenges were faced. Afterwards identify factors that could be responsible for any change that has taken place. Set quantitative targets by drawing up SMART objectives for the future. SMART objectives are specific, measurable, attainable, realistic and timely. Develop an action plan for implementing the HR strategy. Create a timeline for the successful completion of key objectives. As long as the strategy is detailed and also depending on how big the organisation is, options may be made available for heads of departments to choose how best to deal with issues at a departmental level. Introduce and communicate the action plan to your organisation as the overall success of the strategy lies in proper implementation. Organise meetings, discussion and training sessions for senior management to raise awareness and reinforce the importance of their acceptance of the HR strategy plan letting them know how they will benefit from the plan on a personal level. ASSESSMENT OF ROLES IN STRATEGIC HRM The role of human resource managers in strategic HRM is kind of bi-dimensional as they are responsible for the development of strategic solutions that promote departmental and organisational success, and also manage the functional aspects of human resources. Workplace Safety Creating a work environment free from unnecessary hazards is a strategic role of every human resources manager. Strategic development for workplace safety entails risk management and mitigating potential losses from on-the-job injuries and fatalities. Workers compensation insurance is an area in which a strategic plan helps lower company expense for insurance coverage. Reducing accidents through training employees on the proper use of complex machinery and equipment is one of the functional tasks associated with creating a safe work environment. Compensation and Benefits The compensation and benefits structure partly determines the companys business reputation and image. Decisions made by human resources managers pay scales and employee benefits can impact employee satisfaction, as well as the organisations ability to recruit talented workers. Job evaluation, labour market conditions, workforce shortages and budget constraints are factors that HR managers consider in a strategic plan for pay and benefits. Employee Training Human resources managers strategic role with respect to employee training and development prepares the workforce for future positions within the company. Succession planning, promotion-from-within policies and performance evaluation factor into the human resources managers role. Training and development motivate employees, and in some cases, improve employee retention. Recruitment and Selection Employee recruitment and selection is also a part of employee relations though it is a separate discipline itself. Therefore, a human resources managers strategic role is to combine elements of employee relations into the employers recruitment and selection strategy. Employee Relations The sustainance of an employee relations program is an important element of human resource strategy. It includes salaries, benefits, health and safety, training and employee development. The strategic role of a human resources manager in this regard is to determine how to identify and resolve workplace issues that may jeopardize productivity, performance and working relationships. They develop tools such as employee opinion surveys and action plans, monitor compliance with labour and employment laws, address employee concerns, and provide training and guidance to supervisors and managers. In conclusion, the development of effective human resource strategies is vital to the prolonged existence and success of a business. In time past, personnel management was concerned only with the processing of applications, payrolls and staff benefits but human resources strategy today involves executive leadership teams consulting with human resources experts to develop complementary goals for human resources and the overall business.

October :: Creative Writing Essays

October Jennifer stopped running through the forest after doing so for what seemed like eternity. She had no idea where she was, why she was here, or who was chasing her. All she knew was that running for so long of a time made her very hungry. Desperately, she looked around for something to eat, and her eyes settled on a tall apple tree. Jennifer picked a couple and ate them as she leaned against a maple tree while watching mother nature take its course. She could see the sun was setting through the bright red leaves of the forest trees. It was a cold October evening - so cold that she could see the white puffs of steam coming out of her mouth. Soon it would be nighttime. That meant that the temperature would fall so dramatically that she might get hypothermia. Thus, she gathered up numerous dead brown leaves among the forest floor and pushed them all over her body as she lay down on the cold black dirt. Jennifer became worried that "the man" or one of his "best friends" would find her. What would she do? She began searching for something sharp - like a twig or a stone. Her hand enclosed on a smooth metal oval-shaped rock. Then, she remembered that it was a swiss army knife which she stole from the house as she made her escape. After shrugging off practicing how to use the knife, Jennifer concluded that when the time came, she would know how to use it. Being thoroughly exhausted did not ameliorate her survival instinct. She began to become indifferent to her anxieties and needs. Finally, the silent sinister hand of sleep had stricken her. She dreamed about the past; how she got here. She relived all the major milestones that happened in her life. She dreamt that when she was in high school, her mother got into a car accident and died, in October. She dreamt her father exploding and being constantly angry, in October. She dreamt of after not being able to deal with her father, dropping out of school, in October. She dreamt of running away from home, in October. She dreamt of the termination of her career as a lounge singer after being signed by a major record company, in October. She dreamt of her first album staying at the number one slot for eight weeks, after being released in October. After she became such a big star, Jennifer decided to make up with her father. She went to her former home frequently to visit her father.

Support from Individuals Social Network Essay -- Sociology, Family an

Before discussing the different kinds of support that can be given by a person’s social network, an understanding of what a social network is and the people it can include is necessary. This essay will begin with a brief definition and then go on to list and review the different kinds of support that can be provided. ‘A social network consists of a set of people with whom one maintains contact and has some form of social bond’. (K101, Unit 10, p75). This means that a social network is a group of people with which a person has regular interaction with such as Family, Friends, Neighbours or Work colleagues. However taking into account the introduction of easier, cheaper access to the Internet, E-mail and mobile phones over recent years and of course people moving across the country or world, social networks are no longer just confined to where people live. Family and friends can offer informal support such as Practical help and advice with things like childcare or household topics and chores. Emotional support if an individual is undergoing feelings of uncertainty or personal difficulties, and financial help by lending money for debts, everyday living or perhaps advice on spending. Informal support is often a relationship with a degree of mutual help, as seen in various sections throughout the K101 module; such as Peter Townsend’s research into family life in Bethnal Green. He explained how ‘Help was reciprocated- through the provision of meals, the care of children and in other ways’ (Bornat and Blakemore, 2008, P 13) and also Pauline, an active volunteer from Thornhill who after suffering a stroke, her best friend Elaine became her day-to-day source of emotional support, while Pauline’s neighbours provided practical help an... ...r found that paying her bills and everyday routines like shopping where hard to manage. Care workers supported her by going with her to pay bills and to buy food at first. As the service user still wanted to maintain her independence suitable adaptions to her telephone was made and a voluntary shopping service was offered to her with a trained worker that could understand her over the phone, aids to help with memory and everyday tasks where also provided. In conclusion an individual’s social network can be extremely important not just for support but also for physical and mental well-being. Limitations to creating or maintaining social work can vary from person to person such as isolation, vulnerability and impairments. Care workers must be mindful of these limitations so that they can provide and introduce the correct support needed for the right individual.

Parisian Department Store :: essays research papers

The Parisian Department store in Birmingham, Alabama clearly needs to rethink their sales strategies to maximize profits. The management specifically needs to take a look at whether the new pay program achieves its intended effect of cutting costs while driving sales and how this would affect the company as a whole. The company should look at whether this program would be enough fix the problem, or does Jones need to implement more drastic measures? The first major issue was taking a look at HR issues and other related business issues that Parisian faced before they implemented the pay adjustments. As the case studies mentions, Parisian sold high merchandise, highly personalized service, high commitment to caring for its employees and communities of businesses. Jones?f goal is to raise the performance of the store and restore it to its former reputation as an upscale retailer. ISSUES: 1. Parisians payroll expenses in 2003 were 8.6% which was higher than those at comparable sister business within SDSG. 2. Hourly pay at Parisians was 12.18 and Carson paid an average of 9.54 an hour. 3. Selling costs buildup did not work because it only temporarily fixed the issue at hand. A huge issue with Parisian is that their pay system is extremely complicated when it does not have to be. Currently there are three forms of pay: base pay only, base plus commission, and commission only. The cosmetics selling cost is also an issue because cosmetics only bring in 15% of sales, but they spend 22% on payroll sales because of the expertise needed as well as the need to have a body in the bay at all times when you sign the agreement with the vendor. Taking a look at Chart B should this very theory, Parisian shows a net sales of cosmetics of 100 M which is compared to Carson?fs 250M and there people at Parisian get paid more an hour (14 versus 12). It does not make sense for a store that brings in a lot less to pay their people more. The case further explains that the high volume salespeople are paid at high commission rates and sometimes that rate can exceed selling cost benchmark. The stores with the ?gsacred cows?h were costing them a fortune have- specifically 14% sell ing cost. Table C shows that there were certain stores that were not able to have as many employees cover the floor because they had large payroll expenses.

Business Plan for Restaurant

Products and Services : Theme – â€Å"Food Fusion† Singapore being truly a trans-national epitome and embraces every culture with due dignity and respect, it is just apt for us to theme our restaurant menu into a â€Å"Food Fusion†. Fusion food is a combination of various forms of cookery and comes in several forms. Regional fusion combines different cuisines of a region or sub-region into a single eating experience. Asian fusion restaurants, which combine the various cuisines of different Asian countries, have become popular in many parts of the United States and United Kingdom.Often featured are South Asian, East Asian, and South-East Asian dishes alongside one another and offering dishes that are inspired combinations of such cuisines. In Singapore with highest influx of migrants, fusion cuisine is being reinvented and is becoming increasingly the norm at numerous cafes and restaurants with the quality and creativity of Asian-fusion restaurants. Foods based on one culture, but prepared using ingredients and flavors inherent to another culture, are also considered forms of fusion cuisine which is our them â€Å"Food Fusion†, a fine blend of Asia. Sing-Foo’sion Special :Signature dish of Singapore, similar to â€Å"Singapore Sling† drink. * Indo-Chinese Foo’sion * Malay-Indo Foo’sion * Indo-Conti Foo’sion * Japanese-Indo Foo’sion * Indo-Western Foo’sion Aromatic Soups * ‘Pho' – sliced beef or chicken noodle soup topped w/thai basil, cilantro, culantro & bean sprouts. * Spicy Lemongrass ‘Hue' Beef, Chicken Or Tofu. * Seafood Tom Yum. * Vietnamese Hot & Sour Soup * Wakame Tofu Miso. Fresh Fusion Starters * Fusion Spring Rolls. * Crispy Taro Ball * Patate Douce Fritters * Herberd Cherrystones served with a spicy lime sauce * Coco curry mussels with grape tomatoes.Oodles of noodles * Coco Curry Butterfly Shrimp Or Tofu * Pad Thai * Tofu Vermicelli * Grilled Pork Chop Ve rmicelli * Sesame Noodles * Spicy Udon Chicken, Tofu & Veggies. Grains Fry-ins * Chicken Or Tofu Pineapple Fried Rice * Crispy Thai Basil Chicken * Vietnamese Five Spice Marinade Grilled Pork Chops * Charbroiled Lemongrass Chicken * Sauteed Coconut Curry Lemongrass Chicken, Shrimp, Tofu Or Beef Hot Calming Herbals and Smoothies * Organic Black pepper Coke * Milky Green Ginger Teh * Hot Soy Expresso * Fusion Sangria smoothy * Young Coconut creamy tero 5. Market Analysis ?†¢Summary? Industry Analysis? †¢Target Market? †¢Customer Profile? †¢Major competitors and participants? †¢Market Segmentation? †¢Projected Market Growth and Market Share Objectives Singapore is the place for food lovers and it offers most of the international cuisines. Singapore’s food and beverage (F&B) services industry contributed approximately SGD 11. 36bn or 3. 5% to the country’s total GDP in 2011. Ministry of Trade and industry has estimated 4% growth in Accommodati on and food services industry in Singapore supported by healthy growth in visitor arrivals with restaurants achieving about 5. 5 growth. With Tourist arrivals at ever time high and with upcoming international cruise terminal next to MBS , Marina Bay sands(MBS) is best placed for having a restaurant. It has many restaurants offering International cuisine for business as well as leisure. With many highflying tourists and locals too visiting this integrated resort, there is room for Value for money restaurants offering quick lunch/dinner. Event Plaza in MBS attracts crowds who visit Arts and science museum as well as light and water show.Converting these footfalls in to business is the key issue. Customers include visitors to Exhibition center , Casino , and the evening crowds to the light shows for less than $10 meal. MBS has many restaurants like A Taste of Nanyang, Bay Sushi, Celebrity chef restaurants too. There are not many offering Indian food except Punjab Grill by Jiggs Kalra f or high end dining. Target market is Indian food lovers and in 20 to 50 age groups , who frequent the Marina bay sands attractions. Pricing and demographics help in targeting the right customer.Market growth is a factor of visibility of the restaurant, driving the message of affordability and easy accessibility to the visiting crowds. Singapore food consumptions accounts for 3% of GDP and it has highest food consumption levels in South east Asia. Working with The Agri-Food and Veterinary Authority (AVA), Health Promotion Board (HPB) and National Environment Agency (NEA) on offering healthier food will go long way in building the food brand. Food and beverage industry has the social obligation to support healthy and active lifestyles and thus iffering healthy food will lead to increased sales and market share within the MBS rea. 10. Marketing Plan †¢Creating and Maintaining Customers †¢Product Pricing Strategy? †¢Product Positioning †¢Sales and Distribution Plan à ¢â‚¬ ¢Promotional Strategy Expenditure on F&B has grown steadily in Singapore, with market value expanding from USD 8. 3bn in 2006 to USD 11. 4bn in 2011. Attracting customers and repeat customers in a challenge where visitors arrivals are event based. To have a healthy customer base it is necessary to tie up with Event organizers like Singapore Tourism board, MICE organizers.Sign boards on healthy eating along the marina bay Promenade to attract crowds, tit bits of healthy Indian foods and how to choose healthy food and stay fit , offering SGD 10 experience as the prime product in allocation (MBS) where healthy dining may be rare and is expensive. Positioning with value for money healthy dining experience, liaising up with HR departments of neighboring working population to have lunchtime crowds , leaflets dining events around the marina promenade with discounts about 20% if the whole family ( at least 4 persons) dining are some of the promotional strategies.Healthy dining as brand with strengths of Vegetarian and Non-vegetarian Indian cuisine which offer less trans fat, olive oil cooking, no reuse of cooking oil and, less fried food will resonate a healthy product for lunch and dinner. New shopping destinations like Marina link mall and MBS shopping outlets itself will be approached to be positioned as partners in Market making for each others benefit. Frequent feedback forms to patrons offering discounts of up to 20% on food quality , brand image and service to keep the restaurant in sync with patrons expectations and experience will help to redesign the food offerings.

Baseball Compare And Contrast

baseb only and football share some qualities, alone they similarly line of products each separate in many ways. baseball game game requires you to substantiate skill, be intimateledge, and think on the spot, however Football requires you to be fierce and look at create from raw stuff for the next down or else. baseball game you have to impart, urinate, catch, and run around the bases bank you get to homMr. Crabtree e plate, and get a run. while, in Football you have to throw or handoff, put trick plays in the offense, run, tackle maybe even a big hit so that mortal goes to the hospital, and go 100 yards down line of business to get a touchdown, to get 6 points.Some people think of baseball as OH Yeah, lets go run, and catch balls. Oh wait and also hit them. , well no in baseball you have to keep practicing meet like any other rollick to overcome your opponents, and train to become better, than the somebody in front of you. Baseball is the entertainment that you ge t hold of to know the scenario that is occurring, and what is your next move. You deal to understand your game plan bugger off a approach towards trying to hit the baseball.Baseball would require you to understand the sport which is instead simple. Football is the sport that you need to know the game plan, the next play the get out get your opponent so that you toilette gain more yards or get a touchdown. In Football you need tremendous strength to be cap subject to overcome your opponent , or exactly simply get in in that location heads. Each Football has their strengths to be able to overcome their opponents either strength, speed, or a game plan it could possibly be that a team as all of these qualities.Football gives you the attitude that you have to be mentally stumper and be able to remove someone when you tackle them. Football has the paper of having to be ruthless and tough. On the contrary, Baseball gives you the attitude that you have to mentally tough and be abl e to have a plan of how you will overcome your opponent. Baseball has a reputation of Americas old time sport that you tin can wassail which is more pleasurable, than getting tackled all(prenominal) play jeopardizing your body. Baseball and Football contrast each other more than the examine to each other.Football is more horrendous, while baseball pleasant so you can enjoy the game instead of watching your top at all time. In two(prenominal) of the sports you need skill, strength, speed, and mentally tough. In both of these sports they push you to your limits an arise different types of contest towards others and or teams the you want to compete with. In Baseball you can become very quick because there isnt much constrict on you, but in football the pressure is shared through the all team to to work together or else nothing will work.

Only the Strong Survive

The price of capital has increased.There is a big difference between the shipbuilding market of 2002 and 2013, however.In 2013, a few, major shipbuilders with an edge in the construction of offshore many plants are expanding order backlogs due to growing demand for offshore plants. We anticipate investments in offshore E&P projects will continue to rise, as we expect oil prices will remain high. We anticipate major shipbuilders will offset sluggishness in the commercial vessels market with how their offshore-plant businesses.Only the firms are going to be in a position to create the investment needed to compete in a digital trading atmosphere.[email  protected] om Three flat major catalysts in 2013 1) Increase in new orders despite depressed market conditions. 2) Improved cash flow and balance sheets. 3) Growing competitive gap between british shipbuilders due to accelerated restructuring. Historic low P/B presents attractive valuations We expect Korean shipbuilders will be abl e to maintain their competitive edge regardless of the depressed shipbuilding market.

Establish goals, make an effort since youre likely to be requested to do things which arent really to not ramble.We find Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) to be the best among shipbuilders that focus on mid-to-small vessels. We raise our target price on Samsung Heavy Industries by 5% to W46,200 to reflect its stable earnings and solid order flow; however, we downgrade our rating of Hanjin Heavy I&C (097230 KS/Hold) from Trading Buy to Hold. Three major domestic shipbuildersE cash flow and share performance (Wbn) 10,000 Avg. ash cerebral flow of major shipbuilders (L) Avg.Thus the liberty of everyone is the outcome of solidarity.Three major domestic shipbuildersE order trend and forecast (Wbn) 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 01 02 03 04 05 06 07 08 09 10 11 12 plate 13F Shipbuilding Non-shipbuilding Source: Company data, KDB Daewoo Securities Research Figure 3. KOSPI and shipbuilding stock index trend (1/1999=100) 1,000 KOSPI Shipbuilding stoc k index 800 600 400 200 0 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 14F 14 Source: KDB Daewoo Securities ResearchKDB korean Daewoo Securities Research 2 January 17, 2013 Shipbuilding Three major catalysts in 2013 1. New orders for major Korean shipbuilders to increase sharply In 2013, we expect major Korean shipbuilders will see sharp increases in new orders. Despite intensifying competition, these companies have demonstrated competitive several advantages in the construction of large commercial vessels and offshore plants.

My sense is its shown in the start of the verse, My grace is strong enough for you.In particular, we expect orders for certain high-priced vessels, including FPSO and LNG FPSO, to increase. 2.Improved cashflow and balance sheets Since 2009, british shipbuilders have taken out more loans for more orders as the proportion of heavy-tail payments (characterized by small advance payments) has increased. On a more positive note, however, we expect shipbuilder loans to decrease (thus improving cashflow) as these contracts are paid off toward late 2013.Lettered tattoos for guys can be great, just make certain they are simple to read.Second phase of restructuring to further consolidate industry We anticipate the shipbuilding market will remain weak due to the global economic downturn, logical and the tightening of ship financing. We project the current, still-surviving shipbuilding companies will aggressively seek new orders to strengthen backlogs. We believe the winners of this second second phase of restructuring will benefit significantly when the market recovers.Amid the current drop in vessel construction, the percentage of bulk carriers and tankers (out of total orders) has decreased significantly, while the percentage of megacontainerships and LNG carriers has increased.

Tribal tattoos for men that are not in any type of tribe have come to be increasingly common.Another risk factor is won appreciation, but at current levels, we believe risks are limited, thanks to Korean shipbuildersE technological edge, and dollar denominated payment for raw materials, which accounts for 40% of total raw organic material purchase. KDB Daewoo Securities Research 3 January 17, 2013 Shipbuilding Figure 4. Three major domestic shipbuildersE cash flow logical and share performance (Wbn) 10,000 Avg. cash flow of major shipbuilders (L) Avg.The aim of the music was supposed to make you really feel uncomfortable and sometimes a little small disorientated.7% 8 0 2008 2012 Source: Clarkson, press release, KDB Daewoo Securities Research Figure 6. Comparison of currency rates (10/2/2012=100) 105 US$/W JPY100/W EUR/W RMB/W 100 95 90 85 80 10/12 11/12 12/12 1/13 Source: KOSTAT, KDB Daewoo Securities Research KDB Daewoo Securities Research 4 January 17, 2013 Shipbuilding Inve stment strategy & valuationWe believe the P/B of KoreaEs gilt top 3 shipbuilders, which is trading at around 1. 0x, should rebound to 1. 2x, a level seen historically as the low, thanks to the aforementioned three major catalysts.

old Folks who make the decisions.nd Sembcorp Marine (Singapore companies specialized in offshore plant). In light of the ongoing eurozone crisis and unstable global economy, shipbuilding new shares are expected to trade between a P/B of 1. 0x~1. 3x.Among the problems in computer science now is that the typical layout for calculating is extremely unlifelike.Figure 7. Major shipbuildersE ROE, P/B trends (Market cap, Wtr) 4. 0x (%) 50 3. 0x 40 90 60 2.

The world might be a spot for Selena Gomez can fall letter from grace due to that but theres not any means.New order trends (US$bn) 30 25 20 15 10 5 0 03 04 05 06 07 08 09 10 11 12 HHI SHI HMD Figure 10. Order backlog trends (US$bn) 60 50 40 30 20 10 0 07 08 09 10 11 12 HHI SHI HMD Source: Company Data, KDB Daewoo Securities Research Source: Company Data, KDB Daewoo Securities Research Figure 11. Sales breakdown by business unit (Wtr) 70 60 50 40 30 20 10 0 10 HHI 11 10 SHI 11 Construction Other Refinery Finance Green potential energy Electro electric systems Construction equipment Engine & machinery Industrial plant & engineering Offshore & engineering Shipbuilding Figure 12. Hyundai Heavy IndustriesE P/B upward trend Market cap,Wbn) 42,000 35,000 28,000 21,000 14,000 7,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 3.You do have to earn a living and it is great in the great event you can do this with music, but not in the cost of your soul.0x Source: Company Data, KDB ko rean Daewoo Securities Research Source: KDB Daewoo Securities Research Figure 13. Samsung Heavy IndustriesE P/B trend (Market cap,Wbn) 14,000 12,000 10,000 8,000 1. 0x 6,000 4,000 2,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F 2. 0x 6.

Men have another reason behind choosing a mate.5x 6,000 2. 0x 1. 5x 4,000 1. 0x 2,000 0.Such men want the endurance to keep a high degree of combat readiness.0 Figure 18.EPS growth-P/E comparison (P/E, x) 20 Keppel 2. 0 Sembcorp Mitsubishi HHI 1. 0 Guangzhou Sumitomo giant Mitsui (ROE, %) 0.

It will happen once begun.6 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 8. 5 Market P/E (13F, x) 9. 0 KOSPI 1,977.There is simply no doubt.1 Foreign Ownership (%) 19. 6 Major Shareholder(s) Mong-Jun Jung et al. (21. 31%) Treasury shares (19.

Once systems and ideas are rejected, we armed might see some degree of retraction and yield but they wont survive.7 Relative -0. 9 -12. 6 -27. 1 One step back for twenty two steps forward ? ? ? Targeting orders of US$29.However, we expect the company to record robust orders in 2013, boosted by a pickup in the offshore/onshore plant market. The companyEs earnings how are anticipated to turn around in 2H13, while its cash flow should improve on massive orders and an increase in heavy-tail payments. HHIEs shares how are trading at a 2013F P/E of 8. 5x and a P/B of 1.In 2013, however, the company will be able to achieve its order target of US$29. 7bn in light of new its strong determination to revamp its business structure. 2) The company is anticipated to receive massive offshore/onshore plant orders.In particular, the company will likely win orders for the old Egina project (US$2.

4) Exports of construction equipment and ultra-high voltage transformers should also increase on recoveries in the US and Chinese economies. ) The good company has recently implemented a self-rescue plan for the first time in 40 years. While the number of applications for HHIEs early retirement plan (pushed through at end-2012) missed expectations, the company has subsequently carried out structural reform measures. We expect the companyEs long-term restructuring efforts to positively affect earnings going forward.7 3,782 6. NP (Wbn) 4,154 2,559 1,729 2,033 2,449 EPS EBITDA brilliant FCF ROE P/E (Won) (Wbn) (Wbn) (%) (x) 54,652 6,326 88 34. 5 8. 1 33,671 5,473 -504 16.1 8. 5 32,218 4,768 2,297 12. 2 7. 1 P/B (x) 2.9 EV/EBITDA (x) 6. 5 5. 3 8. 5 6.

8 12/12F 54,741 49,759 4,981 2,496 2,485 2,485 110 233 -240 2,595 766 1,829 0 1,829 1,729 100 1,568 1,458 110 3,469 -2,260 6. 3 4. 5 3. 2 12/13F 58,433 52,473 5,960 2,630 3,331 3,331 -448 248 -200 2,882 749 2,133 0 2,133 2,033 100 1,872 1,762 110 4,320 2,005 7.0 3. 9 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables report Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total Assets Current total Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital Stock Capital economic Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 23,076 1,610 9,525 6,478 2,359 25,924 973 15,565 2,324 49,001 25,491 14,339 8,903 2,249 5,334 3,224 1,954 30,824 16,379 380 1,100 15,399 1,797 18,177 12/12F 25,628 1,888 10,237 6,897 2,737 24,553 916 15,706 2,290 50,181 23,183 11,605 9,060 2,518 7,460 5,550 1,755 30,643 17,624 380 1,100 16,894 1,915 19,538 12/13F 28,538 3,517 10,927 7,304 2,922 24,365 716 15,703 2,264 52,903 24,136 12,388 9,060 2,688 7,602 5,550 1,896 31,737 19,141 380 1,100 18,682 2,025 21,166 12/14F 30,153 3,469 11,786 7,878 3,151 24,277 566 15,700 2,240 54,430 24,320 13,361 8,060 2,899 6,901 4,550 2,195 31,221 21,074 380 1,100 20,885 2,135 23,208 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and great Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible total Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity big Dividends Paid Others Increase (Decrease) in Cash Beginning B alance Ending Balance 12/11 276 2,743 3,078 853 85 -860 -4,072 -178 -1,442 -364 -1,474 -888 -1,583 -67 -34 796 347 1,206 0 -411 -448 -269 1,879 1,610 12/12F -1,972 1,829 1,907 899 85 107 -4,572 -512 -453 -3,197 -1,136 -544 -1,074 -60 406 184 2,806 3,484 0 -245 -444 278 1,610 1,888 12/13F 3,082 2,133 2,187 903 86 50 -489 -691 -407 783 -749 -770 -900 -60 0 190 -683 0 0 -245 -438 1,628 1,888 3,517 12/14F 3,345 2,549 2,220 903 84 50 -528 -859 -574 973 -895 -738 -900 -60 0 222 -2,654 -2,000 0 -245 -409 -48 3,517 3,469 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit economic Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity high Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 7. 6 10. 6 8.7 5. 0 1. 3 1. 1 1.2 5. 2 33,671 22,750 26,750 32,218 46,009 35,699 39,772 45,203 203,367 220,183 240,492 266,237 4,000 0 4,000 4,000 9. 6 0. 0 12.

8 1. 8 43. 8 1. 9 6.5 10. 4 -18. 0 -45. 2 34.6 20. 4 5. 9 6. 0 6.2 8. 3 4. 1 4. 8 5.

1 4. 8 16. 7 10. 2 11.0 11. 2 169. 6 156. 8 150.2 124. 0 40. 8 45. 3 34.6 9. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities further Research 9 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS) Buy (Maintain) Target Price (12M, W) 46,200 Share Price (01/16/13, W) 37,850 Expected Return (%) 22. 1 EPS Growth (13F, %) 0. 6 Market EPS Growth (13F, %) 19.

0 Free Float (%) 69. 5 52-Week Low (W) 31,650 52-Week High (W) 42,350 Beta (12M, Daily Rate of Return) 1. 57 Price Return Volatility (12M Daily, %, SD) 2. 3 Foreign Ownership (%) 32.05%) Price Performance (%) 1M 6M 12M ablative Absolute -2. 7 4. 3 12. 3 Relative -1.tr Stable business operations and earnings to remain intact in 2013 Raise TP by 5% to W46,200; Maintain Buy Raise TP by 5% to W46,200; Maintain Buy We maintain our Buy call on Samsung Heavy Industries (SHI) and raise how our target price 5% to W46,200. In deriving our target price, we applied a 5% premium to the companyEs lowest P/B level since 2005 (1. 3x). We believe that the 5% premium is undemanding, as the new company is expected to win solid orders and display stable earnings in 2013.3x. We think that SHI has strong investment merits in light of its competitive edge, stable earnings, robust growth potential, and cash flow improvement. Investment summary 1) Domestic institutions how are most optimistic on SHI am ong the three largest domestic shipbuilders. SHI has proven its superior competitiveness in the offshore plant business, including FLNG and drillships.

As such, the company will be able to repay its debt and strengthen its financial structure. 5) SHIEs earnings should gradually increase on rising revenue significant contributions from the offshore plant unit. Share price 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 13,146 13,392 14,875 14,980 15,751 OP OP Margin NP (Wbn) (%) (Wbn) 1,433 10. 1,000 1,160 8.7 3,685 1,455 1,556 19. 4 4,021 1,551 282 18. 4 4,044 1,514 931 15. 8 4,396 1,667 978 14.4 8. 6 P/B (x) 2. 1 1. 2 1.4 6. 1 5. 5 4. 5 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 10 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) Comprehensive net Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (A dj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit less Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 13,392 11,628 1,763 681 1,083 1,160 -10 -25 -32 1,150 299 851 0 851 851 0 616 616 0 1,455 1,556 10.

2 6. 2 12/13F 14,980 13,017 1,962 764 1,198 1,198 4 -44 0 1,202 268 934 0 934 934 0 925 925 0 1,514 931 10. 1 8. 0 6.6 5. 3 1. 2 5. 4 3,685 5,296 22,582 500 12.0 -14. 9 2. 8 23. 3 3.4 91. 3 25. 8 57. 5 12/12F 9.

0 0. 0 11. 1 6. 6 5.7 5. 8 18. 4 18. 9 182.7. 0 1. 3 5. 5 4,044 5,410 30,381 0 11.2 0. 6 4. 0 27. 1 4.

5 126. 4 -10. 3 69. 5 12/14F 8.0 0. 0 5. 2 10. 1 13.1 6. 4 14. 9 19. 1 121.4 EPS economic Growth (13F, %) 45. 2 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 13. 1 Market P/E (13F, x) 9.

58 Price Return Volatility (12M Daily, %, SD) 2. 4 Foreign Ownership (%) 18. 1 Major Shareholder(s) Hyundai Samho Heavy Industries et al. (46.We expect HMD to maintain stable rapid growth in orders and earnings, despite the global economic slowdown and eurozone fiscal crisis. Indeed, among small- to mid-sized shipbuilders, HMD is the company most favored by shipowners. Amid an expected further slowdown in the shipbuilding market, the company is anticipated to display distinguished share performance in 2013. Given HMDEs cash holdings of W450bn logical and the value of its stake in Hyundai Heavy Industries (W1.Investment points ) We believe HMD will continue to display outstanding performance among small- to mid-sized Korean british shipbuilders in 2013. Even amid intensifying competition due to limited orders and low ship prices, the company is expected to enjoy stable orders, earnings, and cash flow this year. 2) HMDEs competitiveness comes from its productivity, financing capa bility, and the quality of its products. It also boasts strong cost competitiveness as the company purchases raw materials at relatively lower prices from the Hyundai top Heavy Industries Group.5 3. 3 6M 6. 4 -2. 4 12M 11.

1 4,624 378 8. 2 200 9,992 441 -633 5. 5 11. 2 4,404 126 2.4 13. 1 4,855 230 4. 235 11,770 293 416 7. 4 10.2 1. 0 13. 8 0. 9 8.2 4. 3 12/12F 4,404 4,002 402 276 126 126 41 -8 -2 167 41 126 0 126 131 -5 -274 -265 -9 192 -563 4. 4 2. 9 3.

0 4. 7 4. 9 Statement of Financial Condition (Summarized) Wbn) Current total Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant logical and Equipment Intangible Assets Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities grand Total Liabilities Controlling Interests Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 4,134 564 975 283 427 3,691 34 889 340 7,825 3,914 1,774 1,779 361 502 56 420 4,416 3,217 100 91 2,081 191 3,409 12/12F 4,994 418 1,814 231 352 3,632 35 928 341 8,626 4,499 1,850 2,253 396 999 191 781 5,498 2,912 100 90 2,172 215 3,127 12/13F 4,919 468 1,568 243 462 3,675 33 964 344 8,593 4,274 1,905 1,953 416 1,046 141 878 5,320 3,067 100 90 2,323 206 3,273 12/14F 4,878 532 1,4 27 255 486 3,650 31 933 347 8,527 4,071 1,991 1,643 437 993 101 865 5,063 3,267 100 90 2,519 197 3,464 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation year Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other current Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others significant Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 -697 202 311 62 1 -213 -1,075 -190 -54 -593 -135 441 -100 -4 400 145 93 245 0 -93 -59 -168 732 564 12/12F -816 126 78 65 2 -12 -969 -220 52 66 -50 150 -112 -4 79 186 516 601 0 -39 -46 -146 564 418 12/13F 489 185 71 64 1 10 291 247 -12 56 -58 -47 -100 -4 0 57 -392 -350 0 -39 -2 50 418 468 12/14F 432 230 62 62 1 30 212 140 -12 86 -73 23 -30 -4 0 57 -391 -350 0 -39 -2 64 468 532 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) negative EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) strict Liability to Equity Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 11. 2 19.9 9. 8 8. 4 0. 8 1.8 8. 6 6. 0 9,992 6,556 9,518 11,770 13,153 9,869 12,760 14,910 146,152 130,821 138,428 148,290 2,000 2,000 2,000 2,000 19. 6 29.6 1. 6 1. 6 11. 7 -4.

5 33. 4 14. 3 -44. 7 -66.4 45. 2 23. 7 6. 1 4.1 19. 5 19. 5 2. 5 3.5 2. 2 2. 7 5. 5 4.

1 10. 7 15. 6 129. 6 175.0 115. 1 119. 8 -18. 0 -4.6 78. 1 109. 7Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 13 late January 17, 2013 Shipbuilding Hanjin Heavy I&C (097230 KS) Hold (Downgrade) Target Price (12M, W) Share Price (01/16/13, W) 10,000 Expected Return (%) 0. 0 EPS economic Growth (13F, %) RR Market EPS Growth (13F, %) 19.6 52-Week Low (W) 10,000 52-Week High (W) 23,850 Beta (12M, Daily Rate of Return) 1. 43 Price Return high Volatility (12M Daily, %, SD) 2. 7 Foreign Ownership (%) 9. Major Shareholder(s) Hanjin Heavy I Holdings et al (37.

We believe that the companyEs earnings and ready cash flow will not improve for the time being, given its tepid order performance amid the sluggish commercial vessel market, and the front suspension of its Youngdo shipyard due to a strike.Although the company has recently embarked on the development of an industrial site near the Incheon port, the project is unlikely to boost operating gross profit markedly due to high capital requirements and increased interest expenses. As such, the companyEs shares are unlikely to recover in the near term, in our view Although the companyEs shares are trading at a 2013F P/B of just 0. 4x, we believe that their investment merits are low.2) There is a slow growing possibility that the Subic shipyard will take new orders, as it possesses strong price competitiveness. However, as it is difficult to slender build highend vessels at the Subic shipyard, the companyEs earnings are unlikely to recover in the near future. 3) There are many labor-manag ement social issues yet to be resolved, including one related to employees who are currently on leave due to a lack of work. ) Although HHIC is meeting its short-term capital special needs through real estate disposal, the company will likely find it difficult to sell large-scale real estate assets due to the real personal estate market slump.Proceeds from the companyEs planned rights offering (estimated to at W180bn) should be only equivalent to its annual interest expenses. 6M -26. 7 -35. 5 12M -47.5 -103 2,795 76 2. 7 -10 3,071 83 2. 7 -32 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) -1,496 312 487 -3. 6 -2,006 200 -224 -5.

0 0. 5 0. 4 0. 4 0.9 18. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 14 January 17, 2013 Shipbuilding Hanjin Heavy I (097230 KS/Hold) Comprehensive national Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit more Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 2,892 2,665 227 140 87 108 -190 171 -2 -82 15 -97 0 -97 -97 0 -90 -90 0 200 -224 6. 9 3. 7 -3.0 2. 7 -0. 4 12/14F 3,071 2,764 30 7 224 83 83 -125 150 0 -42 -9 -33 0 -33 -32 0 -57 -56 0 184 146 6. 0 2.9 -2,006 323 36,806 0 0. 0 0. 0 -8. 7 -35.

2 -1. 3 -5. 1 2. 4 276.3 0. 4 24. 0 -2,123 -111 34,182 0 0. 0 0.3 8. 0 3. 9 -1. 5 -5.5 0. 3 12/13F 5. 9 0. 4 16.

8 20. 1 RR 3. 6 9. 8 4.6 87. 1 152. 8 0. 4 12/14F 10.0 9. 9 -5. 8 9. 9 RR 3.8 2. 4 267. 0 81. 7 157.

As of the publication date, Daewoo Securities Co. , Ltd. has been acting as a financial advisor to Hyundai Mipo Dockyard for its treasury stock trust, and other than this, Daewoo Securities has no other special interests in the companies covered in this report.As of the publication date, Daewoo Securities Co.* The target price was determined by the research political analyst through valuation methods discussed in this report, in part based on the analystEs estimate of future earnings. The achievement of the target price may be impeded by risks related to the subject securities and companies, as well as general market and economic conditions. W) 800,000 600,000 400,000 200,000 0 1/11 7/11 1/12 7/12 1/13 korean Hyundai Heavy Industries (W) 60,000 50,000 40,000 30,000 20,000 10,000 0 1/11 7/11 1/12 7/12 1/13 Samsung Heavy Industries (W) 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1/11 7/11 1/12 7/12 1/13 Hyundai Mipo Dockyard (W) 50,000 40,000 30,000 20,000 10,000 0 1 /11 7/11 1/12 7/12 1/13 Hanjin Heavy I&C Analyst such Certification The research analysts who prepared this report (the „Analysts†°) are registered with the Korea Financial Investment Association and are subject to Korean marketable securities regulations. They are neither registered as research analysts in any other jurisdiction nor subject to the laws and regulations thereof.Except as otherwise specified herein, the Analysts have logical not received any compensation or any other benefits from the subject companies in the past 12 months and have not been promised the same in direct connection with this report.No part of the compensation of the Analysts was, is, or will be directly or indirectly related to the specific recommendations or views contained in this report but, like all employees of Daewoo Securities, the Analysts receive compensation that is impacted by overall firm profitability, which includes public revenues from, among other business units, the instituti onal equities, investment banking, proprietary trading and private client division. At the time of publication of try this report, the Analysts do not know or have reason to know of any actual, material conflict of interest of the Analyst or korean Daewoo Securities Co. , Ltd.Information and pinions contained herein have been compiled from sources believed to be reliable and in good faith, but such information old has not been independently verified and Daewoo makes no guarantee, representation or warranty, express or implied, as to the fairness, accuracy, greater completeness or correctness of the information and opinions contained herein or of any translation into English from the Korean language. If this report is an English french translation of a report prepared in the Korean language, the original Korean language report may have been made available to investors in advance of this report. Daewoo, its affiliates and their directors, officers, employees and agents do not accept a ny liability for any loss arising letter from the use hereof. This report is for general information purposes only and it is not and should not be construed as an such offer or a solicitation of an offer to effect transactions in any securities or other financial instruments.

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