Impressionism in Conrad and Joyce Free Essays

Above all else, a quick meaning of Impressionism In writing would be given. Numerous pundits have contended that both In Joyce ;s and Conrad ;s compositions we could discover impressionistic thoughts, another philosophy of recognizing the human experience. Impressionism have is birthplaces in a display in 1984 of a gathering of painters in which Monet stuck out. We will compose a custom paper test on Impressionism in Conrad and Joyce or on the other hand any comparative theme just for you Request Now In spite of the fact that the gathering was not particularly homogeneous, they portrayed by speak to the manner by which one individual sees something at one second in time, impressions of a specific and solitary second. They centered in the censorial part of how individuals experience the world competing extraordinary worry to subjectivity. So as to do this, they utilize light and shading which produce a censorial effect on the spectator. In this enjoying way, writing attempts to adjust the new methods of painting to composing. They likewise stress subjectivity dismissing the old conventional accentuation upon request, thought and clearness. They give us another point of view of the connection of individual with regular world transferring on the censorial parts of the experience. Aside from that, we locate another specific qualities In Impressionistic composition: They dismissed customary accentuation on hand and clearness, typically related with the shows of Realism. Uncertainty wins through the portrayal being the peruser who needs to frame his own decision about the story The second and the fleeting is likewise Important. Portrayal as a rule are told in a sort of inadvertent report, when the occasion are happening. The subtleties of the activity are depicted through the eyes of the character when despite everything occurring and not when he/she has just prepared the activity (deferred disentangling). This procedure gives additionally a feeling of vagueness. The scene is normally attributed with unprecedented descriptive words that are more worried about human feelings than with delineation of the view. This and the over and over use of pictures of mist, fog, fog or light and shadows delivers a sort of marvelous and puzzling air where things appear to be obscured. Presently, we come to break down the accompanying entry of Concord’s Heart of Darkness based on Impressionism. L saw a face among the leaves fair and square with my own, taking a gander at me wild and consistent; at that point out of nowhere, just as a cover had been expelled from my eyes, I made out somewhere down in calculated anguish, stripped bosom, arms, legs, glaring eyes †the shrubbery was amassing with human appendages in development, flickering bronze shading. The twigs shook, influenced, and stirred, the bolts flew out of them, and afterward the screen came to. † Here, Conrad s impressionist s tyle allows the peruser to encounter the occasions simultaneously 1 OFF us the subtleties of the activity before the hero has prepared the activity itself. This give us impression of disarray, as we need to re-read the section to truly observe what's going on. As a matter of fact, this is very like the painting procedures of Impressionism by which the most clear picture of the image can be just observed from certain separation of the canvas. In the accompanying entry, likewise taken from Heart of Darkness, we can see the uncommon qualities of impressionistic depictions. â€Å"The sun set; the sunset fell on the stream, and lights started to show up along the shore. The Chapman beacon, a three-legged thing erect on a mud-level, shone unequivocally. Lights of boats moved in the fairway an extraordinary mix of lights going up and going down. What's more, farther west on the upper arrives at the spot of the colossal town was as yet checked forebodingly on the sky, an agonizing misery in daylight, a startling glare under the stars. † Here we have a depiction of the setting where wins the utilization of light. In each line seem a reference to explicit light (sun, nightfall, beacon, stars, glare†¦ ). The depiction of the air of the setting is itemized which creates the impact of certain temperament, a sort of puzzling picture. Additionally, we find many reference o water (stream, shore, mud-level, fairway) that makes the picture obscured before our eyes. In t he assortment of short stories Edibleness, uncommonly in â€Å"Arab† and â€Å"Beeline,† sense observation, similar to locate, sound, contact, smell, are significant. The depictions cause the peruser to feel the sensations portrayed, the scents, the sounds†¦ This may be the one most exceptional element of Joyce ‘s portrayals in Edibleness. In the accompanying section of Arab, we can discover this references to gatherings: â€Å"It was a dull blustery night and there was no solid in the house. Through one of the messed up ones I heard the downpour encroach upon the earth, the fine ceaseless needles of water playing in the saturated beds. Some far off light or lit window sparkled underneath me. I was appreciative that I could see close to nothing. Every one of my faculties appeared to want to shroud themselves and, feeling that I was going to slip from them, I squeezed the palms of my hands together until they trembled, mumbling (†¦ )† So albeit both Joyce and Conrad share a similar enthusiasm on the subjectivity, on how their characters experience reality, we can express that they vary marginally in the method of accomplishing this AOL. The most effective method to refer to Impressionism in Conrad and Joyce, Papers Impressionism in Conrad and Joyce Free Essays Impressionism in Literature: Joseph Conrad James Joyce. This paper endeavors to give a concise examination between two of the significant agents of the English Modernism, James Joyce and Joseph Conrad. In spite of the fact that these two authors originate from altogether different foundations, they share the dismissal of ordinary authenticity and the quest for better approach to move toward the real world. We will compose a custom exposition test on Impressionism in Conrad and Joyce or then again any comparative subject just for you Request Now In doing this, I will concentrate on the nearness on Impressionistic thoughts and in the new techniques they will utilize to delineate reality. Most importantly, a quick meaning of Impressionism in writing snared be given. Numerous pundits have contended that both in Jockey’s and Concord’s compositions we could discover impressionistic thoughts, another approach of recognizing the human experience. Impressionism have is starting points in a show in 1984 of a gathering of painters in which Monet stuck out. Despite the fact that the gathering was not particularly homogeneous, they portrayed by speak to the manner by which one individual sees something at one second in time, impressions of a specific and solitary second. They centered in the censorial part of how individuals experience the world competing extraordinary worry to subjectivity. So as to do this, they utilize light and shading which produce a censorial effect on the passerby. In this loving manner, writing attempts to adjust the new methods of painting to composing. They additionally stress subjectivity dismissing the old conventional accentuation upon request, thought and clearness. They furnish us with another viewpoint of the connection of individual with regular world transferring on the censorial parts of the experience. Aside from that, we locate another specific qualities in impressionistic composition: They dismissed customary accentuation on hand and clearness, normally related with the shows of Realism. Uncertainty wins through the portrayal being the peruser who needs to shape his own decision about the story The second and the fleeting is likewise significant. Portrayal for the most part are told in a sort of inadvertent report, when the occasion are happening. The subtleties of the activity are portrayed through the eyes of the character when despite everything occurring and not when he/she has just prepared the activity (deferred deciphering). This method gives likewise a feeling of uncertainty. The scene is typically scribed with exceptional modifiers that are more worried about human feelings than with delineation of the view. This and the more than once utilization of pictures of haze, dimness, fog or light and shadows creates a sort of marvelous and baffling air where things appear to be obscured. Presently, we come to break down the accompanying entry of Concord’s Heart of Darkness based on Impressionism. â€Å"l saw a face among the leaves fair and square with my own, taking a gander at me furious and consistent; at that point out of nowhere, just as a shroud had been expelled from my eyes, I made out somewhere down in calculated agony, stripped bosom, arms, legs, glaring eyes †the bramble was amassing with human appendages in development, flickering bronze shading. The twigs shook, influenced, and stirred, the bolts flew out of them, and afterward the screen came to. † Here, Concord’s impressionist style allows the peruser to encounter the occasions while Marrow does. The procedure, generally named as postponed interpreting, disclose to us the subtleties of the activity before the hero has prepared the activity itself. This give us vibe of disarray, as we need to re-read the section to truly observe cap is going on. As a matter of fact, this is very like the painting strategies of Impressionism by which the most clear picture of the image can be just observed from certain separation of the canvas. In the accompanying section, likewise taken from Heart of Darkness, we can see the uncommon attributes of impressionistic depictions. â€Å"The sun set; the sunset fell on the stream, and lights started to show up along the shore. The Chapman beacon, a three-legged thing erect on a mud-level, shone emphatically. Lights of boats moved in the fairway an extraordinary mix of lights going up and going down. What's more, farther west on the upper arrives at the spot of the huge town was as yet stamped forebodingly on the sky, an agonizing anguish in daylight, a shocking glare under the stars. † Here we have a depiction of the setting where wins the utilization of light. In each line seem a reference to explicit light (sun, nightfall, beacon, stars, glare†¦ ). The de

Organizational Development for Northern County Legal Services (NCLS)

Question: Examine about the Organizational Development for Northern County Legal Services. Answer: 1. The association examined in the said case is Northern County Legal Services (NCLS) which is a philanthropic association which offers free legitimate types of assistance to people who can't bear the cost of it. The said association is arranged in a little reason with one lounge area and four workplaces. The lounge area has no Air molding, in this way, the customers who stay with the association experience the ill effects of warmth as it sitting area becomes busy and hot and now and again, three volunteers share one single office. Moreover, the said association is disorderly as it handles stroll in customers and customers with arrangement at the same time, baffling the customer who sit tight without arrangement for quite a long time together. Also, the association has significant worry corresponding to its financing. It has truly awkward seats for its staff and the inside administration of the association likewise experiences numerous deformities like deficient desk work, poor plann ing by staff and need auspicious recording. The staff at Northern County Legal Services (NCLS) fills lodging admission structures which are inadequate; they likewise are confounded about where dire structures and non-earnest structures are to be put for their head Julie to audit. The staff additionally had various perspectives about which work to think about pressing. Moreover, the volunteers or the staff in Northern County Legal Services (NCLS) needs to manage issues in which they dont practice. For instance, Monica spends significant time in family law however needs to manage lodging laws and lodging admission structure which offers ascend to botches. Moreover, the staff faces issues in documenting the administrative work which is finished by another person (Wray Bliss, 2013). 2. Morals is an indispensable component in close to home and expert life. In this manner, each association requires following morals. Morals are the qualities and principals which an association utilizes or receives while leading its exercises and business. In this way, morals ought to oversee both the inner administration of an association alongside the outside correspondences the association or its work force host with third gatherings (Lpez-Campos et al., 2013). In the current case, the Northern County Legal Services (NCLS) ought to receive an increasingly sorted out and client arranged methodology where stroll in customers ought not be approached to sit tight for quite a long time together. The said disposition of the association just baffles and makes disregard for the association. In addition, the interior administration of the Northern County Legal Services (NCLS) additionally experienced numerous moral imperfections as the staff, bosses and volunteers of the said association neglected to discuss appropriately with one another which limited them from aiding and taking care of issues in which they practice (Gray, 2013). The association ought to receive a moral way of inward association where staff and volunteers ought to be progressively energetic about taking care of legitimate issues of customers. Moreover, the leader of the Northern County Legal Services (NCLS) should attempt to be progressively useful and present to take care of the issues and issues which the volunteers face in documenting movements. Moreover, the volunteers and the representatives of the Northern County Legal Services (NCLS) require to be demonstrated that they are learning and advancing in the said association which would urge them to buckle down and with enthusiasm. Preparing classes can be directed to instill such qualities in the staff and representatives including the volunteers of the said association (Elmuti et al., 2013). 3. The Northern County Legal Services (NCLS) which offer free legitimate administrations to its customer experience the ill effects of numerous issues which can be illuminated with appropriate association and management. As I would like to think, all customers ought to be approached arrangement which will decreased baffled customers who need to hold up in the hot lounge area which will consequently made the workplace premises progressively open for staff and representatives because of less horde of customer. Furthermore, the inner administration requires to be revised. The Northern County Legal Services (NCLS) manages lodging laws, business laws, aggressive behavior at home and family law. In this manner, the volunteers and the representatives in the said association ought to be separated in offices as indicated by their specializations (Woermann, 2013). In this manner, volunteers with specialization in lodging laws should deal with lodging admission structures and volunteers work in family law should deal with issues of aggressive behavior at home. Be that as it may, an inside set of accepted rules ought to be detailed which advances working aggregately and helping one and other to accomplish greater profitability just as improvement of legitimate information. The Northern County Legal Services (NCLS) can enlist barely any progressively experienced legal counselors to administer and audit crafted by volunteers. As the said volunteers of Northern County Legal Services (NCLS) are legitimate understudies, they require direction which can be given by recruiting fitting oversight (Coome, 2014) Reference List Coome, K. (2014). Morals and the getting the hang of community.Learning people group in training, 86. Elmuti, D., Lehman, J., Harmon, B., Lu, X., Pape, A., Zhang, R., Zimmerle, T. (2013). Imbalance between sexual orientations in the official suite in corporate America: Moral and moral issues.Equal openings universal. Dark, R. H. (2013). Business morals and authoritative change.Leadership Organization Development Journal. Lpez-Campos, J. L., Hartl, S., Pozo-Rodriguez, F., Roberts, C. M. (2013). European COPD Audit: structure, association of work and methodology.European Respiratory Journal,41(2), 270-276. Woermann, M. (2013). The morals of multifaceted nature and the intricacy of morals. InOn the (Im) Possibility of Business Ethics(pp. 31-50). Springer Netherlands. Wray Bliss, E. (2013). An emergency of administration: towards an anti⠐sovereign morals of organisation.Business Ethics: An European Review,22(1), 86-101.

Mabalacat Pampanga Essay Example for Free

Mabalacat Pampanga Essay Is a previous region, the third city in Pampanga changed over on account of a choice on July 21,2012. As indicated by the last 2010 agreement, Mabalacat has a populace of 215,610 individuals. Economy and Livelihood - Mabalacat is a significant transportation center here in Pampanga associating NLEX, SCTEX , and the McArthur Hi-Way. - Mabalacat is a profoundly urbanized city. It comprises of various business foundations. A great deal of this incorporates iron works, pottery, vehicle adornments and various inns and cafés. - Mabalacat additionally gets some assessment contributed pay from the Clark Freeport Zone. - Delicacies incorporate tocino del cielo and pastillas. Social Profiles: Celebrations: Caragan Festival: This is a Festival in Mabalacat which the Mabalacat individuals commends its foundations and family line and to respect the town’s first Aeta chieftain. City Fiesta: Every February 2, the city Fiesta is commended out of appreciation for the sculpture of a Virgin Mary with an infant Jesus on her lap that was found by Cabezang Laureanas laborers, This sculpture was introduced to Caragan as a blessing by Padre Maximilian Manuguid, the minister of early Mabalacat church. Customs - Mabalacat individuals are strict and tenacious. They put the family time and church exercises as one of their needs. - Mabalacat individuals follow the heavenly week conventions cautiously and still practices Penitensya.* *as refered to by inhabitants Conventions - Mabalacat individuals despite everything follows pastorella, despite the fact that every other spot in Pampanga have quit commending it. - Mabalacat individuals greater part despite everything follow the â€Å"penitensya† during the Holy Week. - People of Mabalacat consistently invest quality energy with one another particularly family. - The People of Mabalacat has a family first sort of principle.* *as refered to by Residents. Conspicuous Local Figures: Civic chairman Spirits, BOKINGVice-Mayor HALILI, CHRISTIANLydia de Vega a well known runnerMelanie Marquez is a previous belle of the ball and model who won the 1979 Miss International excellence pageant.Joey Marquez is an on-screen character and lawmaker.

An Overview on Editing and Writing Academic Papers

An Overview on Editing and Writing Academic PapersMany people do not bother getting college based academic papers so they could pursue higher education. In fact, studies show that not many people take the initiative to revise their older academic papers or submit them to a paper-writing company. Most people simply make use of what is usually available to them from an academic writing service provider. If you are writing papers, it is always a good idea to make sure you have ample time and dedication to devote to each one.Writing academic papers requires time and effort. A good outline is needed, along with a pen and paper to make notes. Plus, there is the subject matter to consider. You cannot apply a thesis without first investigating the subject. Additionally, you need to read carefully before writing so that you will not make needless mistakes.A good academic paper will only emerge when you have given yourself ample time and attention to dedicate to it. The papers should not be to o complicated. You can always make a 'clean slate' through writing a fresh academic paper at any time.Making your own academic papers is definitely a good way to satisfy your own set of deadlines. Most academic providers provide the required documents such as academic papers, research papers, thesis or monograph proposals and theses, papers, dissertations, and research reports. They also provide services to the academic writing companies.You can opt to self-submit academic papers. Many academic providers will allow you to submit your own academic papers directly. You can also choose to submit to an academic writing company who will perform editing for you. It is important to have some self-reflection time and establish the motivation to keep on writing. A good idea is to compile a list of things that you like or hate about academic writing.You may write as many as 500 academic papers, and many students often end up with more than this. Every academic paper includes several years of writing experience. For people who are relatively inexperienced, writing academic papers requires a lot of creativity and patience.People also go online to submit their academic papers. This is great since there are many different types of academic papers that are available online, thus making it possible to get an idea of what would be appropriate for each paper.

Biological Weapons - Description and Potential List

Thesis on Empower Women Through Micro Credit Programmes

INTRODUCTION A significant development in recent years has been the mushrooming of community-based organizations and initiatives at the local level for women. Reports indicate that self-help programmes, often in the form of savings and credit or micro credit schemes, have succeeded in changing the lives of poor women, enhancing incomes and generating positive externalities such as increased self-esteem. This paper addresses the challenging issue of whether self-help micro credit programmes are tools for empowering poor women. Micro credit is about much more than access to money. It is about women gaining control over the means to make a living. It is about women lifting themselves out of poverty and vulnerability. It is†¦show more content†¦over the decades, various strategies have been adopted to empower rural women with some mixed results. One of the viable strategies, quite often talked about, is the role of enterprise to empower rural women. For example, promotion of rural enterprise makes full use of family labour, requires less capital in production and uses locally available raw material. In addition, family ties and kinship linkages may help in promoting rural enterprise. Thus, enterprise development has been considered, among other factors, a powerful tool to eradicate poverty especially among rural women as they are at the lowest rung of poverty ladder in almost all afro-asian countries. For women to become a successful entrepreneur, she needs access to capital, technical and managerial know-how and market. The essence to empower rural women lies in catalyzing appropriate economic activities at the grass root level and creating new opportunities for them to earn higher income in order to improve their standard of living. This objective could be accomplished by establishing enterprises that are based on the locally available resources and preferably indigenous knowledge. Development experience shows that gender inequalities are a major factor impeding prog ress towards the Millennium Development Goals of poverty reduction.Show MoreRelatedImpact of Microfinance awareness in Kenya12633 Words   |  51 Pagesin the country. Microfinance has received a lot of attention since its inception in the early 1970s perhaps, as argued by Okiocredit (2005: 30-32), due to the ability of microfinance to enable poverty alleviation and economic development through provision of credit and savings services to those earning low income. The attention has seen development of different definitions to microfinance. 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Business Event Management Australian Tourism Exchange

Question: Discuss about the Business Event Management for Australian Tourism Exchange. Answer: Introduction Business events are always organized for beneficial purposed not only to the host of the event but also to the participants in the event. The business functions bring together people from different walks of the world, tourists and other delegates from different states. The business events always have impacts on the host countries and the host cities because they always influence the economic system. During the time of the events, the business clock changes to all round business as people are functioning all day and night. The city generates huge amounts of revenue that later becomes a source of revenue to the country and a boost to its economy. This report highlights on some of the business events that will be witnessed in the year and their impacts in the host states. Trade Events ATE17 - Australian Tourism Exchange ATE is a B2B event management that brings together delegates from Australias tourism business with more than 700 tourism wholesalers and retailers from the globe. A form is a trade event that issues opportunities for the Australian tourism enterprises to showcase their products and also a chance to establish significant business links with the people and organizations carries the tourism market in Australia to the international marketplace. The event is as well considered a source of opportunity for the representatives in the international trade tour where they get to experience the first-hand in Australia and makes sure they are well armed and motivated to send guests to the shores. The delegates of the Australian Tourism Exchange usually participate in the B2B conferences and transacting opportunities across the events with familiarization touring chances also becoming part of the agenda for the global buyers and media (Alonso Nyanjom, 2016). For Australia to host the ATE, there are certain benefits that are bound to come up in the midst of the trade tour. Economically, hosting the event will see Australia capture close to $1o million to the South Wales economy as the city will be expecting more than 10,000 visitors to spend their nights in Sydney during the event. ATE will as well position the New South Wales top tourism destination by displaying their variety and various tourism experiences on offer all over the country. To the tourism operators in Australia, the event will offer a unique and cost effective chance for them to display their products and bargain deals with the most influential global tourism purchaser. The function allows the Australian tourism industry to unite to display the unique of Australias while at the same time sourcing great returns for their enterprises and the societies. To the global buyers, the trade event is there to offer a forum for the buyers to meet and do business with many potential t ourism operators from all over the country all in a single location. The buyers are also given opportunities to experience the nations destination and products first-hand while enhancing the capacities to sell Australia to the global economy (Luckham, 2012). The Australia Trade Event is also beneficial to Australia as it increases the states tourism media exposure. There are agents from different key international and domestic media organizations and publications who are always invited to the event every year. The delegates always report what new in the Australian tourism industry thus assisting the industry to build and strengthen the profile as a top destination for the millions of consumers in the world. In terms of the economic context, tourism is considered a direct employer too many people in Australia and also indirectly to multiple people. It is the largest service export in Australia and a major employer in the rural areas and as such, helps in increasing the nations economic prosperity as the international tourists always spend and disperse all around the country. Australia is determined to grow the overnight expenditures generated by tourism to over $140 billion by 2020 through its tourism 2020 strategy. The ATE is a persisten t contributor to the realization of the tourism 2020 strategy and it facilitates the productive links between the tourism industry in Australia and the global distribution network. Tourism Australia is the Australian government agency that is responsible for promoting Australia to the world of destination and for businesses and leisure travel. The aim of tourism Australia is to increase the economic advantages to the tourism industry in the country. To achieve the objective, tourism Australia works to grow visitors expenditure and dispersal through targeting Australias key visitors in the major global markets. The Australian Trade Exchange for 2017 will be held in Sydney and is expected to attract 2,300 delegates from 30 states. The NWS minister for trade, tourism, and major events assured people that the event will give people the perfect opportunity to showcase the newly constructed international convention center which is the largest exhibition in Australia and also the largest c onvention center. The event that is to take five days is expected to generate significant economic benefits to the country and at the same time displaying the Iconic attractions of the country, its stunning beaches and the exclusive food and wine scene. The event will also provide delegates from overseas and across Australia with the chance to explore Sydney and the Breathtaking surrounding the regions of the NWS (Church, 2013). Walkabout Japan 2017 The trade event will be held in Japan for 2017 for three days in Odarawa forty minutes from Tokyo. The event is a premier trade event that will be presenting a specific opportunity for the Australian tourism products and services that will be engaging with the key Japanese travel agencies. The attendees of the event will be a minimum of Key Japanese buyers who will be coming from Tokyo, Osaka, Nagoya and Fukuoka. The buyers will compromise a mix of the wholesale planners, group sales, and media sales, FIT sections in the major agencies as well as the local travel agencies and land operators. There will also be Australian seller enterprises that will be chosen to represent a balanced and a wide cross-section of Australia, firms with their goods being potentially attractive to the Japanese market. Other attendees will be the state, territory and regional tourism organizations (Pielichaty, Els, Reed Mawer, 2017). In 2015, Japan was the sixth largest inbound market for the Australias arrivals and the seventh largest market for the total visitors spend and ninth for the total visitors night. The last event hosted more than 300,000 visitors from Japan. The event will host 17 delegations from Queensland tourism business as a part of the mission of the trade that aims at growing the shares of the country of the Japanese guests. According to the chief executive of the Trade and Events Queensland, the visitors would allow attending Queensland businesses to meet with more than 300 Japanese trade representatives. The mission of the trade is seen to issue an ideal platform for the Queensland to make strong relationships with Japanese travel buyers as well as the retail agents. The Queensland business participants will represent some destination including Cairns and the Great Barrier Reef, and also the gold coast and Brisbane. The trade is expected to build the current momentum and grow the valuable int ernational market for Queensland. The TEQ is working with the tourism Australia on a promotion that is giving the travelers to Japan opportunities to get involved in a supervised selfie that will help them to share the experiences down under. The event is designed for the Australian sellers who will be willing to expand their businesses to the international markets in Japan. The spaces are declared limited and every state will have their allocations. The new products in the event will be ready for export and the traders are expected to work with the inbound tour operators in the Japanese market. From the latter, it is evident that the event is economically sensitive as it will create a busy environment all over the town and people will be operating in an all-round economy throughout the period of the event. The event management is seen to be as strict and is intended to be beneficial where the event organizers are allowed to cancel the event if it will be proven to be below the expectations. The terms and conditions of the event are also strict and require one to be fit for the selection criteria that will be evaluated through submission to tourism Australia for verification. The organizers have also been sensitive to mak e reminders to the applying companies to have public liability insurance. The latter is a scenario expressing the significance of the event and the extent to which the trade exhibition is valued (Wills, 2013). Business Conferences International Conference on Climate Change and Sustainable Development (ICCCSD) 2017 The ICCCSD is aimed at deliberating on the viable solutions to the problems emerging because of the climate change in the Indian context. One theme planned for the conference is the climate change and sustainable development where the change in the climatic conditions is seen as the problems in the current human habitat. The technicality of the problem is attributed to the deep global ramifications on a vast range of issues that impact on the very survival of life on the planet earth. It is important for all the stakeholders to understand the complexity of the matter, the varied dimensions as well as the implications more so for the Indian policy makers. In the context of India, the climate change has been influencing the natural ecosystem and it is expected that in the future, it will have the substantial adverse effect on agriculture which is a major source of livelihood for the population. The venue of the conference will be Madurai city famously known as the temple city in India and the second largest city after Chennai in Tamil Nadu. The city is well connected by road, rail, and air and it is evident that the conference will have a major impact on the economic dimensions of the city. The many visitors from around the world will be expected to attend the conference will be a major source of income for not only the city but to the entire Indian community (Jeninah, 2016). The foreign participants in the conference are required to pay a registration fee which will be paid in UDS. Following this initiative and the rates of the USD to that of the Indian rupees, the Indian economy is set to benefit significantly from the conference. Furthermore, the participants will be moving around the city and probably will also be moving around other cities in India for other purposes including leisure. For the time these delegates and participants will be spending in the country, the h ost city is set to benefit economically as the restaurants and accommodation businesses will have the opportunities to make more profits for the season. Other benefits of the conference are that India will have a joint and active force to assist in finding the solution to the climatic disparities that has long been an issue in the country. The focus of the conference will be on the four main thematic areas; the climatic change and climatology, the evidence of the climatic changes, the sustainability, and climatic change, and the effective adaptation. The entire conference will be held for three days. The fact that the conference will be running for three days is a sign that the state will be benefiting socially and economically. The delegates are expected to dig deep into the issue of climatic change and the effects it has on the people if India and make the necessary conclusions on the appropriate measures to be taken to salvage the situation. The delegates and the participants will also be a source of funds to the effort to boost the climatic situation. With the delegates from across the globe, the there will be an all round workin g economy which is expected to be a great boost to the economic performance and growth for the period (Wale, Robinson, Dickson CAB International, 2010). The stakeholders to the conference will the government of India to be represented by the following government agencies; Ministry of Environment, a ministry of water resources, the department of chemical and fertilizers and the ministry of telecommunications. Other external stakeholders will be the delegates from the different countries around the world and the associated participants. These stakeholders will be to address the environmental and climatic issues affecting India including the vulnerable cities to floods like Mumbai and Kolkata. They will also focus on the issues such as the major rivers that are found to be vulnerable to the effects of the changing climate because of the rapid melting of glaciers and the loss of snow cover. The efforts to address the issues will be meeting the global needs to rescue the climatic conditions that have been brought by major activities of human nature where everyone has been engaged in activities affecting the global warming from individual to industries. Among the sub-themes will be wind energy people advised to switch to other energy sources to help salvage the environment, the climate change, agriculture and food security where people are projected to face severe consequences of food shortage if the climate continues at its current rate, and climate change and water resources where the water sources might start draining following the climatic conditions. At the end of the conference, India will have known its current climatic conditions and the efforts that can be put in the future to salvage the situation (Cummings Bridgman 2016). International Conference on Business Research and Policy The ICBRP for 2017 will be held at the Novotel Nice Centre. The first conference on the global policies was in2013 that mainly focused on the international business and global policy cases. The mission entails related global policy research subjects more so for the recent trends in academic research accompanied by the strong emphasis on practical policy implications. The conference is a meeting of minds that will be giving the participants; academics, policy makers, executives and students opportunities to share ideas on an effective formulation of policies in business, as well as their implementations. The knowledge can as well be applicable to the government agencies in various functional areas including innovation, marketing, and human resources among others. The conference is beneficial in many ways as considering research and practice always influence each other and more especially in the current complex dynamic business world. Researchers have been mandated a vital role to assi st the practitioners to develop and execute sustainable business models as has been seen in the Indian e-commerce space today, the researchers are also expected to help the practitioners in understanding their customers better and designing and creating better value (Beech, 2014). In other perceptions, the practice has been seen to influence research through the presentations of unique challenges such as the understanding of the roles of environmentally friendly business activities in the art of influencing the customer choices. The link is declared similar to the development research and the policies as well as the huge implications for the state as a whole. It could also assist in reducing poverty and the quality of life for the people. The interdependence between research and practice is the drive for the call for the unity of the best minds from the two fields to promote mutual benefits of ideas and the next practices which are the aim of the ICBRP 2017. The conference will be bringing the scholars together from India and abroad that includes the senior academicians and practitioners, as well as students from business studies and economics. Like any other business meetings and conferences, the ICBRP will as well have economic impacts on the host country as many people will be attending the event. There will be participants from various countries all of whom will be spending in the city. They will be making the economic system of the town's busy all round and also benefit the business owners and entrepreneurs in the country. Following the conference, the country will be having many visitors who will be jetting in through the air, and by road. It is a sign that the countrys economy will also be benefitting from their locomotion. Accommodation will also be part of the revenue generating businesses through the spending of the visitors. The hotels and restaurants will be benefiting from the guests and the systems will be busy throughout. For the attendees of the conference, there will be registration fees that will vary depending on the category of the individuals; early registration will be cheap that the regular registrations, E-sessions will be cheapest among all (Yap, 2013). Conclusion Business events are usually organized to allow people to get together and share ideas, make innovations and develop new plans in the business environment. Trade fairs are usually critical business events where delegates from various states are coming together to showcase their talents, business ideas, products and services. It is also a place where the stakeholders come to seek new markets for their products in the global business environment. Businesses conferences are more like educational meetings where people from various fields meet and share ideas from the different fields and assist each other understand the different areas of business environment. business conferences usually involve research and practices that influence each other aiming at getting the best. Wherever there are business events in a country, the host state usually benefit from the event in terms of economic activation where the city hosting the event becomes an all round business hub. The period of the event w ill be a source of revenue from the host country as the visitors will e spending ion different things around the country ranging from transport, accommodation, food, leisure and other activities around the city. References Alonso, A, Nyanjom, J 2016, 'Tourism, Quality Of Life, And Residents Of A Rural Town',Tourism Analysis, 21, 6, pp. 617-629, Hospitality Tourism Complete, EBSCOhost, viewed 7 April 2017. Beech, J 2014, The Business Of Events Management, Harlow: Pearson, Discovery eBooks, EBSCOhost, viewed 7 April 2017. Cummings, S, Bridgman, T 2016, 'The LimitsandPossibilities of History: How a Wider,Deeper, and More Engaged Understanding of Business History Can Foster Innovative Thinking', Academy Of Management Learning Education, 15, 2, pp. 250-267, Business Source Complete, EBSCOhost, viewed 7 April 2017. Church, E 2013, Event Management : 27 Success Secrets, [Brisbane, Australia]: Emereo Publishing, Discovery eBooks, EBSCOhost, viewed 7 April 2017. Jeninah Christia D., B 2016, 'Viability of Event Management Business in Batangas City,Philippine: Basis for Business Operation Initiatives', Asia Pacific Journal Of Multidisciplinary Research, Vol 4, Iss 4.2, Pp 46-56 (2016), 4.2, p. 46, Directory of Open Access Journals, EBSCOhost, viewed 7 April 2017. Luckham, DC 2012, Event Processing For Business : Organizing The Real-Time Enterprise,Hoboken, N.J.: Wiley, Discovery eBooks, EBSCOhost, viewed 7 April 2017. Yap, G 2013, 'Original article: The impacts of exchange rates on Australia's domestic and outbound travel markets', Mathematics And Computers In Simulation, 93, Selected Papers of the MSSANZ 19th Biennial Conference on Modelling and Simulation, Perth, Australia, 2011, pp. 139-150, ScienceDirect, EBSCOhost, viewed 7 April 2017. Pielichaty, H, Els, G, Reed, I, Mawer, V 2017, Events Project Management, London: Routledge, Discovery eBooks, EBSCOhost, viewed 7 April 2017. Wale, D., Robinson, P., Dickson, G., CAB International. (2010). Events management. Wallingford [etc.: CABI. Wills, C 2013, Green Equilibrium : The Vital Balance Of Humans And Nature, Oxford: OUP Oxford, Discovery eBooks, EBSCOhost, viewed 7 April 2017.

The Impact of the A380 Project on the Financial Performance free essay sample

Abstract Airbus has been making headlines in the past few months for all the wrong reasons. This iconic European corporation has undergone a turbulent period due to the problems surrounding the Airbus A380 project. A new flagship product that should have curved out an unassailable advantage for Airbus over Boeing went completely wrong. The Airbus A380 aircraft was a ground breaking concept that was meant to push EADS into a unique market segment. Instead, it threatened the very existence of the company and served as a catalyst for major surgery and a complete reorganization of the corporation starting from the top management down to the production floors. Numerous studies have been undertaken that have documented details of the Airbus A380 project and what, how and why it all went wrong. The company and other stakeholders have been undertaking drastic steps to try and put the company back on track and ensure the survival of the commercial aircraft business unit. We will write a custom essay sample on The Impact of the A380 Project on the Financial Performance or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In this study we look at how the problems surrounding the Airbus A380 project have affected the financial health of EADS. The background to the problems and the financial performance of Airbus is studied and presented. A brief discussion of how the data we collected and used for the study and the data that we could not get access to is also presented early in the paper. From the data and analysis, a comparison of the two dominant players in the commercial aircraft manufacturing industry, Airbus and Boeing, is also undertaken. A brief highlight of the financial impact of a project in the computer/consumer electronics industry is also presented. Finally from these data and prior studies on this subject, we have tried to highlight the impact of the project on the short and long term financial direction of EADS. Table of Contents List of Tables6 6 List of Figures7 1 Introduction8 2 Theoretical Framework14 3 Data Collection25 4 EADS Background and Analysis27 5 Boeing Background and Financial Data50 6 Comparative Analysis of EADS and Boeing 59 7 Other Factors that Affected the Financial Health of EADS69 8 Long-Term Prospects72 9 Comparison to a Project in a different Industry78 10 Conclusions79 81 11 Future Work82 12 Reference List83 List of Tables Table 4. 1 Business Segment Data of EADS 36 Table 4. 2 Consolidated Cash Flow Statements of EADS. 36-37 Table 4. 3 Consolidated Income Statement of EADS.. 40 Table 4. 4 Consolidated Balance Sheet of EADS 40-41 Table 5. 1: Consolidated Statements for Boeing 55-57 Table 5. 2: Income Statements for Boeing. 57-58 Table 5. 3: Consolidated Cash Flow Statements of Boeing 58-59 Table 8. 1: The Order Book for A380 Aircraft 76-77 List of Figures Figure 4. 1: EADS stock ownership. 29 Figure 4. 2: EADS management structure.. 31 Figure 4. 3: Airbus management structure 32 Figure 4. 4: EADS divisions and revenue. 34 Figure 4. 5: EADS share price (25 Nov 05 to 25 Jun 07)†¦. 49 Figure 5. 1: Boeing distribution of stock. 51 Figure 5. 2: Boeing divisions, revenue and activities.. 52 Figure 5. 4: The management structure of Boeing.. 54 Figure 6. 1: Working Capital Boeing Vs EADS 61 Figure 6. 2: Revenue Boeing Vs EADS 64 Figure 6. 3: Airplane Delivery Boeing Vs EADS. 65 1 Introduction The commercial aircraft industry requires huge capital investments in manufacturing and research and development. This is a very competitive sector where industry consolidation has resulted in the emergence of two major players from either side of the Atlantic, EADS in Europe and Boeing in the United States of America. The two form a duopoly with market leadership in the sector largely rotating between these two corporate giants depending on the market dynamics. Commercial airlines and other air transport operators form the bulk of the customers. Governments are also important customers. The government involvement in the sector extends to investing, supporting (Aboulafia, Richard, 2000; O’Neal, Michael, 1990) and regulating. Any problems in the industry have implications that go well beyond the confines of the affected companies. Governments therefore subsidize and invest in aircraft manufacturing and research and development. This also serves to protect the highly skilled jobs in this sector and ensures that the respective countries remain technologically competitive (Wall, R. Sparaco, P, 2007). Big companies play an important role in the economics of the countries they operate in. They influence the conditions in the industries and directly impact employment rate in the countries where the manufacturing takes place. EADS and Boeing are the leading competitors in the aircraft manufacturing industry and demonstrate the high level of political interest in this sector and the way governments try to influence the business decisions made by such corporations (Wall, Robert Jens, Flottau 2007; Barrie, Douglas 2007). 1. 1 Problem Definition Airbus is a subsidiary of EADS that has been a global leader in the manufacture of commercial aircraft. The launch of the A380 aircraft project was expected to become a huge success and elevate EADS to a new level of market domination. But following production delays and the cancellation of some orders for the A380 aircraft by some customers, the company found itself in a difficult position. The failure of a challenging project such as the A380 project can have far reaching financial consequences that could lead to bankruptcy. It could also serve to expose weaknesses and inefficiencies in the structure of an organization that could be a major hindrance to the success of a company. The popular media and professional journals have been full of news and articles concerning the problems with the A380 aircraft and Airbus in particular. The list of problems include workforce discontent, possible reduction in production activities, delivery delays, customer dissatisfaction and a lack of new orders, to mention only a few. The complex set of problems extends to the influence EADS has that can cause significant economic problems in the concerned countries. Numerous studies and articles have been written about EADS and the A380 project that catalogue the various organisational, technical and financial problems associated with the manufacture of the A380 super-jumbo aircraft. A systematic evaluation of the financial consequences of the project has not been carried out. 1. 2 Purpose The purpose of this research work is to evaluate the impact of the A380 project on the financial health of EADS. The following questions will be addressed: In the short run, what effect has the A380 project had on the financial performance of EADS? In the same period, what was the financial performance of Boeing, the direct competitor of EADS? Should EADS continue supporting the A380 project with additional financing? What long term financial impact will the A380 project have on the future of EADS? Finally, in order to fulfil the purpose we will also briefly discuss other factors that influenced the financial health of EADS, in addition to the A380 project 1. 3 Research Methodology The first stage of this research will involve reviewing the information that is available about the aircraft manufacturing industry with a focus on information about EADS and Airbus. Our focus will be on financial information. As a public company, EADS is obliged to publish financial data about the corporate structure and financial information containing revenues, profits and sales orders per EADS division such as Airbus. The A380 has been a major project at EADS for the past few years that has taken substantial preparations and investments amounting to significant annual expenditures (Thomas, J. , 2001; Gummesson, E, 2006). The main thrust of our research will be quantitative for aspects where we shall obtain the financial data needed to do the analysis. We shall also employ a qualitative approach to evaluate the leadership and organizational structure at EADS. To evaluate the financial impact of the A380 project on EADS, our primary focus will be on financial and ratio analysis of the company. We will examine the financial statements from EADS. This quantitative analysis will include the period from 2004 to 2005 that preceded the initial announcements delivery delay of the A380 as well as the period following the announcements, from 2006 to the first quarter of 2007. To analyze the changes in profits, revenues and cash flows, we will perform a comparative analysis of the years from 2004 to 2006 and evaluate the first quarter of 2007 in comparison to the first quarter of 2006. We will explore what influence the Airbus A380 project has had on the financial health of EADS. In order to get a clearer picture of the financial health of EADS, we will compare the financial performances of EADS and its main competitor, Boeing. The financial statements of Boeing Company are also generally available as it is a public corporation. Boeing has a similar structure, is engaged in the same activities and is comparable in size with EADS. Boeing also operates in the aircraft manufacturing industry, with its commercial aircraft unit also being the major part of the company’s activities. Therefore, the cross-company financial analysis between EADS and Boeing will provide some useful insights into the scale of the finanicial problems. Some A380 aircraft customers have already cancelled their orders and moved to Boeing instead. Since these two companies form a duopoly, most customers that leave EADS for Boeing increase the market share for Boeing. The foreign currency exchange rates between the US dollar and the euro have had an impact on the competitiveness of EADS. The manufacturing plants of EADS are located in Europe. The basic bills are paid in Euros (salaries, taxes etc), while customers outside Europe settle their contractual obligations in US dollars. The lead time between contractual agreements and actual aircraft deliveries, coupled with fluctuating US dollar versus euro exchange rate influence the financial performance of EADS. Depending on the direction the change takes, it can add to the losses from the A380 project, especially with the lead time from the date of agreement to the date of delivery being stretched by the delays The US dollar to euro relationship is therefore an area of interest, we will therefore analyze trends in exchange rates and evaluate its impact on EADS. We will also evaluate trends in stock prices of EADS and compare them to ones of Boeing. This will allow us to see how the market value of the company was affected by the A380 crisis and delivery delays. The market values of stocks are important indicators of financial stability and are of special interest to investors. Trends in the stock price will also show the possible direction of the company. A review of the financial position of EADS, that will include cash flows, revenues in total, total revenues and profits, revenues and profits by divisions in the period starting from 2005 to 2007 (both within the company and in comparison with Boeing), together with review of stock prices and exchange rates in 2005-2007, will help paint the picture of the A380 project impact on the short run financial performance of EADS. Evaluation of trends in profits and cash flows of EADS and review of order and delivery book of Airbus, the major source of revenues and cash flows for EADS will reveal the possible future direction of the company. Upon reviewing the trends in financial position of EADS (through ratio analysis) and examining the order or delivery book of Airbus, taking into account that this type of business involves cash transfers and recognition of revenues upon fulfilment of contracts, we will be able to determine how much of a burden the A380 project is for EADS and if the company can carry on without significant financial reorganization. Finally, we will briefly examine other factors which could additionally influence financial health of EADS. The corporate structure and leadership issues have important bearing on the operations of a company and could also influence financial state of a company. Our evaluation will be based on information from the companies on the existing organizational structures and scientific articles where available. Among others, the following issues will be examined: the composition of the Boards such as the number of independent directors and how focused the Boards are on business activities and how independent they are when making decisions. This will give us some insight into the efficiency of EADS as an organization, which has an indirect influence on profitability as well. The dynamics of exchange rates influence financial health of EADS as the company is based in Europe but sells big part of its products overseas. We will use data on exchange rates obtained from business media sources for this analysis. 1. 4 Possible Limitations We will be unable to accurately estimate certain values without sufficient data. This is a complex case, with several interrelated issues. We will use the available data. The available data will be sufficient to make qualitative conclusions as is usual in case studies. For example, without knowing the values of discounts offered to some customers, the values of penalties incurred, the impact of some customers exercising the option to buy alternative aircraft from Airbus, we may be unable to make exact quantitative conclusions on losses and net cash outflows from the project. We cannot definitely determine sources and values of external (from other projects) financing for the A380 project. We would liked to look at the A380 project appraisal (preferably with more comprehensive appraisal method, like NPV), but it will not be possible to do this as we will lack exact data necessary for this type of evaluation. The A380 project is an evolving story that has new developments all the time. The data from primary data that we sourced from some company’s websites may be skewed in favour of the respective companies as there is tendency for companies to put emphasis on positive information. 2 Theoretical Framework 2. 1 Introduction According to Brealey et al, 2006, managers are agents of the owners of the company, the shareholders. The manager’s main goal is to increase the value of the shareholders’ wealth. The board of directors are part of the corporate governance system and are meant to oversee the performance of the managers and strategic direction of the company. The board ensures that the managers are adequately compensated for the day to day running of the corporation and have the mandate to replace the managers if they do not deliver shareholder value or , among other reasons do not conduct the operations ethically or legally. There are several methods to evaluate potential success of a project in a company. This is an important step. In a large company and/or if a significant investment opportunity is considered, investment appraisal methods, such as NPV (Net Present Value) are applied. To analyse the impact of the A380 project on EADS, our approach was to look at the problem from three angles: the financial angle, the organisation structure (leadership and governance) and to compare EADS to a similar organisation. The theoretical foundations that we base our analysis on are described in the following sections of this chapter. 2. 2 Assessment of the Financial Health 2. 2. 1 Financial Statements – Ratio Analysis Potential investors, as well as other interested parties, always analyze past/present financial performance of a company before making investment. This is necessary to evaluate possibility of future returns. Trends in profits and cash flows of past few years not only show how effective was a company in the post, but can also indicate future direction of a company. Probably the best way to evaluate possible return from investment is by analyzing data available from financial statements of a company (40). The major financial statements are: Statement of Balance Sheet, Statement of Cash Flows and Income Statement. Income Statement is intended to disclose revenues and expenses, as well as profits of a particular period. It should be noted, that profits are often different from cash flows, as items like depreciation of fixed assets are not taken into account in net cash flow calculations, but they do influence profits. Statement of Balance Sheet shows the financial position of a company at a particular point in time. Namely, it shows the values of assets (both current and non-current), liabilities (both current and non-current) and equity. Following balance of Balance Sheet components is always maintained, if the statement is correctly prepared: Assets-Liabilities=Equity Statement of Cash flows discloses the way all cash resources have been used throughout a particular period of time. Cash Flow Statement consists of three basic parts: Cash Flows from Operating Activities, Cash Flows from Investment Activities and Cash Flows from Financing Activities. Income Statement, Statement of Balance Sheet and Cash Flow Statement can be analyzed to find out how effective the performance of a company in the past was and to forecast, what can be expected in the future. It should be pointed out, that basic financial statements of listed (parent) companies are readily available to general public (through company web sites, etc), while financial statements of subsidies (â€Å"daughter† companies), like Airbus, usually are not readily available. A. Millichamp, 1997, suggests three methods for assessing financial performance. Each figure (or number) in the financial statement should be compared with: 1) The corresponding figure of previous statements 2) The corresponding forecasted (budgeted) figure 3) The corresponding figure of another company in the similar business While comparison of subsequent statements of a company is important (to see improvements/backward steps etc), it is sometimes even more important and interesting to see how well a company is performing in comparison with direct competitor (e. g. in our case Boeing vs. EADS). The first method of assessment shows trends within a company, while cross-company evaluation shows if those steps are more effective than the ones taken by a competitor. Third method of an evaluation (i. e. comparison with budgeted values), while definitely being important, usually cannot be performed by an outsider, as budgets (i. e. internal data) are rarely disclosed by companies. While comparison of absolute values of financial statements is often performed, comparison through financial ratios is frequently more relevant. Many financial values are inter-related. Besides, some trends are better seen through relative analysis of values, for instance, when two companies construct their financial statements in different currencies. Boeing does this in US dollars while EADS uses the euro. According to Williams et al, 2005, (p606): â€Å"Ratio is a simple mathematical expression of the relationship, of one item to another. Every percentage may be viewed ad a ratio-that is, one number expressed as a percentage of another†. 2. 2. 1. 1 Ratio Analysis Assessment of three basic types of activities can be conducted to evaluate overall financial performance of a company (35). Changes since previous period show short term improvements/steps backward, while overall trends in years can also indicate what can be expected in the future. These three activities are: Liquidity, Profitability and Gearing/Leverage. It should be noted, though, that this is not a strict classification and some ratios may â€Å"belong† to more than one performance appraisal subgroups. For better representation of subsequent statements, they are usually placed next to each other and percentages of each corresponding values are also given. 2. 2. 1. 2 Liquidity Measures Liquidity of a company refers to its ability to manage short term obligations. Short term obligations are those ones, which should be repaid within a year. In other words, it is an ability to repay current liabilities with available current assets. Current assets are assets readily convertible into cash. While current liability is an obligation which should be settled within a year. The basic term often used in relation to Liquidity is Working Capital. Simply, it is an excess of current assets over current liabilities. Basic ratios used to assess liquidity of a company are: 1) Current Ratio=Current Assets/Current Liabilities It is a measure of how well are current liabilities covered by current assets. To some extent, the more it is (hopefully over 1. 5), the better it is for a company, but too high Current Ratio may imply that current assets are not entirely utilized. 2) Quick Ratio=(Current Assets-Inventories)/Current Liabilities It is a similar measure to Current Ratio, but with the exclusion of inventories-the least liquid current assets. Sometimes it is a more relevant measure. Again, a value of Quick Ration in excess of 1 is usually expected, but it varies from industry to industry. 3) Working Capital Cycle is considered to be an important illustrative measure of Liquidity. It is calculated in days/months. By Working Capital Cycle we measure the period from the date purchase of raw materials to the date of cash collection from products manufactured from those materials. Working Capital Cycle equals: Period to collect cash from customers+ period to turn over inventories- period to settle trade liabilities Days to collect cash from customers= (Average Receivables/Sales Revenues) x 365 Days to turn over inventories = (Average Value of Inventories/Cost of Sales) x 365 Days to settle trade obligations = (Average Payables/Cost of Sales) x 365 If average values are not available, year end values can also be used. Generally, the shorter is the Working Capital Cycle, the better it is for a company, as it is an indicator of effective performance. 2. 2. 1. 3 Profitability Measures Profitability ratios can help us evaluate trends in profitability and help us find out if a company earns sufficient profits in comparison with available resources. One thing should be noted here. If a company has a very high profitability but low cash balance, it can lead to a collapse-company can run out of cash. It is called Overtrading. On the other hand, excessive cash balance with corresponding low profitability is an indicator of Overcapitalization-sign of inefficient use of available resources (assets do not generate sufficient profits). Trends in Profitability can be measured both in absolute terms and with the use of ratios. Following measures are used: 1) Gross Profit Percentage: Gross Profit/Sales Revenue It is an indicator of what is percentage of Gross Profit from Sales Revenue Earnings per Share: Earnings for Ordinary Shareholders/Number of Outstanding Shares is an indicator of earnings for one share. Two important measure of profitability are also used to evaluate the efficiency in use of assets and equity to generate profits. Return on Equity = Net Profits/Value of Equity Return on Assets = Operating Profit / Value of Total Assets Maintenance of high levels of profitability is the primary objective of a company. It is a sign of relatively safe continuity. But as it was stated above, high levels of profitability should not be confronted with low Liquidity. 2. 2. 1. 4 Measures of Gearing and Leverage By Gearing we mean the ability of a company to meet long term debt obligations. Debt composition of Balance Sheet is an important indicator of Gearing. Higher share of long term debt in comparison with to equity is an indicator of higher Gearing. While, generally, long term debt is considered to be the least expensive source of finance (less expensive than common stock issue), too much reliance on debts puts accompany into danger, as interest on debt should be repaid (unlike dividends) regardless of profitability level. Good indicator of Gearing is the Debt Ratio: Debt Ratio= Total Liabilities/Total Assets Another indicator of Gearing is Interest Cover: Interest Cover= Profit before Interest and Tax/Interest Expense The higher it is, the easier it is for a company to settle its long term debt interest. This ratio is also related to Liquidity of a company. All above mentioned ratios are calculated from Statements of Balance Sheet and Statements of Income. Additionally, examination of Cash Flow Statements can reveal how cash is used in a company, which items of the statement are seem to generate more/less cash than was expected and by how much has cash decreased/increased in the considered period. 2. 2. 2 Limitations of Financial Evaluations using Ratios Financial analysis through ratios is an important and useful method to evaluate financial performance of a particular company. But this type of evaluation has its limitations. One can never make convinced conclusions purely based on ratio analysis. One of the reasons can be so called â€Å"window dressing†, i. e. a case when a company intensively â€Å"improves† performance by the end of accounting period to make year end financial statements look â€Å"attractive†. This can lead to incorrect assessment of a company. Besides, measures used in financial analysis are relative measures, which indicate to relative changes and therefore do not always allow us to make absolute judgments on companies (Millichamp A, 1997; Williams R. et al, 2005). Nevertheless, comprehensive (including cross-company) evaluation of company performance through financial ratios can disclose not only past problems of a company but even allow us make forecasts on future financial health of the company. This evaluation is well supplemented by other non-ratio financial indicators, like stock price trends and (where relevant) trends in currency exchange rates. 2. 2. 3 Stock Prices The wealth of shareholders in a company is generated from: 1) Dividends received; 2) Market values of shares Return from investment to shareholders can be generated from both received dividends and from capital gain due to increase in value of shares. Very important measures a company value is market value of all its outstanding shares. In order to increase the value of a company, management should achieve high profits so that it could distribute higher dividends and insure high values of shares (to allow higher capital gains). When market value of shares is low, the possibility of takeover from an outsider company is more likely. What is also significant, value of shares and trends of share prices are very important indicators of a company financial health for a potential investor. It is taken into account together with financial statements of a company (Millichamp A. 1997, Brealey R. et al, 2006). 2. 3 Additional Factors that can affect the Financial Health In this section we look at other factors that can have a bearing on the finances of EADS as factors like corporate structure, leadership and foreign exchange rates can have an influence on the financial stability of a company or indirect impact on projects within a company. The indirect influence of factors like corporate structure and leadership is reflected in the ability to avoid or reduce the negative impacts caused by a project while fluctuations of exchange rates can magnify losses or profits from projects when exchange rates are either favorable or unfavorable. However, the primary purpose of this thesis is to look at the impact of the A380 project. 2. 3. 1 Leadership The corporate culture, leadership and governance of a corporation influences the way the success of a company. Dubrin A. , (2007) has further catalogued the types of leadership characteristics that are needed for organisational success. These are especially relevant in organisations of the scale and complexity of EADS or Boeing that depend on the creativity and the innovation of the workforce. Dubrin also describes leadership traits needed to effectively manage international or geographically dispersed companies that are also culturally diverse are also. Other characteristics that have relevance to our subject matter relating to Airbus and EADS include teamwork, leadership development, succession and transformational leadership skills are required to lead an organisation through a crisis. This list is not exhaustive, it only seeks to provide a brief background to some of the leadership failures that could have led to the problems at Airbus, impacted on organisational efficiency and subsequently translated into financial woes for the company. 2. 3. 2 Corporate and Governance Structure Organizational structure can play a vital role in the performance of a company. The way the board of directors coordinate performance of top management and the manner it communicates with groups of shareholders is often as important as contemporary financial health of a company. The central role in organizational structure belongs to board of directors which usually consists of 8-15 members in a large corporation. The board should be independent to ensure independent and objective reporting and decision-making of the board (15). According to Walter J. Salmon: â€Å"Inside directors are often too committed to tradition and their new ideas. Outside directors, without independent sources of information are usually only capable of anaemic discussion and dissent. The result: consumers, competition, technology, and the economy may all change, but the company fails to keep up† (15, p4). According to Walter J. Salmon, a board of 8-15 members is optimum, with at least 2/3 of it being outside directors. An empowered board (15) has the ability and independence to monitor activities of management and to influence top management to revise their activities if their performance does not correspond to the strategic direction of a company determined earlier. The board should monitor the performance of the CEO and interfere if the company moves in the wrong direction to improve things before further damage occurs. The following steps are essential for Board empowerment (15): Directors receive independent and competent information on the performance of a company in the most easy-to-understand format The board consists of independent, competent members. It is an integrated board. Members of the board freely and frequently communicate with each other The board members also monitor the performance of the board itself. They set objectives for themselves and try to achieve them. 2. 3. 3 Governed Corporation vs. Managed Corporation According to John Pound, there are two types of organizational structures: a governed corporation and a managed corporation. The board of directors has a passive role in a managed corporation. Its main tasks are monitoring and selection and appointment of top management. The managers retain all leadership and decision-making rights (15). It is not considered to be the best governance model nowadays. Today many problems of large organization do not stem from power imbalances, but rather from poor decision-making. The governed corporation model proposed by John Pound is designed to remove the imbalances of the managed corporation model. It is centred on the decision making process in the company. The board of directors, top management and shareholders are more integrated and share responsibilities in decision making and formulation of the strategic direction of a company. Managerial duties are retained by CEO’s, but the board is not a passive onlooker. 2. 3. 4 The Impact of Foreign Exchange Rates Exchange rate of a currency is a rate at which one country’s currency can be traded in exchange to another country’s currency. Basically, exchange rate is determined by supply and demand of currencies at exchange markets. Following factors influence exchange rates: Government policy to influence exchange rates (limitation of maximum exchange value etc) Interest rates in the countries of those currencies The rates of inflation in those countries Trends in exchange rates (Euro to Dollar) can become a source of troubles for both importers and exporters of products, because â€Å"actual† amount received by them can fluctuate as exchange rates vary (35). There are some measures to be taken in order to avoid or reduce negative influence of exchange rates: 1) Contrac

buy custom Jack the Ripper essay

buy custom Jack the Ripper essay Murders related to Jack the Ripper happened in 1888. They were in and around the Whitechapel area in London. The victims were female prostitutes from the neighboring slums. Attacks consisted of sexual assaults, slitting of throats and abdominal mutilations. In addition, there were acts of evisceration (removing of internal organs) of the victims. Other distinctive characteristics included deep throat cuts, genital area mutilation, as well as progressive facial mutilations. Actions related to the Ripper consisted of 11 separate murders from 1888 to 1891. The victims were Smith, Tabram, Nichols, Chapman, Stride, Eddowes, Kelly, Mylett, McKenzie, Street, and Coles. Allegedly, there were other murders by the ripper (Cook 5). Majority of the murders were on weekends and in neighboring streets. Of these murders, there are five (the canonical five) that experts believe to be directly related to the Ripper. There were letters purportedly sent by the murderer to media houses. These letters helped police and public at large to figure out the identity of the Ripper. The majority thought that the killer lived around the Whitechapel district because of the concentration of the murders around that area. Others believed that the killer was an educated upper-class man, a doctor or an aristocrat. The propositionof a doctor rose from the Killers tendency of evisceration. Other theories used to identify the suspects were the fear of medical practitioners, distrust of modern science, and inter class war between the rich and the poor. The suspects were Montague John Druitt, Seweryn K%u0142osowski, Aaron Kosminski, Michael Ostrog, John Pizer, James Thomas Sadler, and Francis Tumblety, among others. In my opinion, Jack the Ripper was Montague John Druitt. Montague John Druitt lived from 1857 to 1888. He was a barrister and an assistant schoolmaster. He died of suicide from drowning. Sources suggest th at Druitt was a sexual pervert (Cook 15). We note that the murders by the Ripper consisted of sexual assaults, which point at the characteristics of Druitt. Besides, his mother and grandmother suffered mental illness. Thus, sources indicate that Druitt had an underlying mental illness (Cook 20). The nature of the murders by the Ripper is likely to be the work of a psychopath. Besides, his death by suicide came after the last canonical murder. This might mean that he killed himself in order to avoid arrest or because of guilt. It is unlikely that the killer was Seweryn K%u0142osowski or Aaron Kosminski. K%u0142osowski killed his three wives by poisoning. Jack the Ripper killed by cutting and mutilating. It is not usual for the serial killler to change his mode of operation in such a drastic measure(Cook 35). On the other hand, some sources identified Aaron Kosminski as the Ripper. Kosminski suffered mental illness and went in an Asylum in 1891. However, the sources refused to give evidence for the claims (Cook 37). Besides, Kosminski lived harmlessly in the asylum. His mental illness involved hallucinations, paranoia and a refusal to maintain hygiene. These are not the violent characteristics expected of Jack the Ripper. There was the need for investigators to reveal further the life of Montague John Druitt. For instance, the company he worked with had recently fired him. There was no establishment of the cause of the dismissal. Besides, there was the need to match Druitts fingerprints with that of the supposed killer. Moreover, Druitts whereabouts during the time of the murders needed establishment. This information could corroborate the scant evidence that led to the suspicion of Druitt. Modern technology and techniques could resolve the mystery of Jack the Ripper. For instance, technology could allow the matching of fingerprints. Besides, Deoxyribonucleic Acid (DNA) profiling could successfully exonerate or incriminate the suspects. If Jack the Ripper killed today, technology would trace him with ease. Buy custom Jack the Ripper essay

Revise paper Term Example | Topics and Well Written Essays - 1500 words

Revise - Term Paper Example According to Makarsssyus and Friedman (2005) cosmopolitan societies such as towns and cities have diverse populations since people from various cultural and ethnic backgrounds move to such areas in search of employment. In such societies, medical practitioners require understanding of various languages in order to safeguard the quality of the services they offer. In other disciplines of the practice such as psychiatry, the entire process of attending a patient relies on the quality of the communication between the providers and he patients. I serve as an intern at Chinatown Public Heath Centered located in the City of Sam Francisco, 1490 Mason Street, San Francisco, CA 94133. I work under (insert) and this has helped me in aligning my career interest by being able to serve a linguistically diverse population. My work here involves dealing with immigrants and this has reinforced to me the essence of Multilanguage mastery as a method to spearhead better healthcare services in such environments. As an intern in Chinatown Public Heath Centered, my roles include translating the medical materials of first Aid and CPR learning materials from Cantonese to Mandarin and also from Mandarin to Cantonese. My other roles include updating information on client and assisting the health department staff keep their database current. I also participate in making the learning materials available and useful to the delivery of the services in the centre. Literature has concerned itself with investigating the effects of bilingual knowledge on delivery of healthcare in multiethnic societies. For instance, the National Health and Medical Research Council (2009) investigated the way a physicians’ understanding of multiethnic culture and language affects the ability of such a doctor to deliver services. According to his study, it was found that in multiethnic societies, healthcare stuff who are able to integrate cultural understanding in their service were better able to serve their

History - Malthusian Demographics Essay Example | Topics and Well Written Essays - 750 words

History - Malthusian Demographics - Essay Example This he said will be due to the fact that resources will no longer be able to sustain the expanded population (Elwell 133). For the balance of the population and the resources to be reached, Malthus proposed certain natural calamities to be vital in this; he said that countries going to war and mass killing being realized were one way of reducing the enormous number of the population that was creating tension on the limited available resources. He also proposed other natural catastrophes like volcanic eruption to be helpful in the checking the population growth rate. The Malthus prediction can be said to have failed since its inception, but that is not all, the problem facing the developing countries currently will certainly lead to the population explosion (Ehrlich, Paul, and Anne 156). In the developing countries, there are massive and unchecked population growth while in the same time the recourses created can not support the population. The rate of population growth in the develo ping countries has immensely contributed to the widespread abject poverty in the region. Even without directly experiencing Malthus projection we can say that the effect of unchecked population is impacting negatively in some parts of the world. One of the salient features of the high population growth rate is the cause of political instability in the countries that are victims of these. In the third world countries, resource distribution is acutely skewed towards the a few individuals that wield political power and have great influence in the country and can marshal resources in their favor to lead opulence life while their subjects are surviving from hand to mouth (Smith 199). This has led to public outcry and has in some unfortunate circumstances led to mass actions in a bid to topple and impeach the existing government for not caring about the common man. It has also led to the formation of the insurgents who antagonizes the government creating political instability. Malthus pro posal may not be realized today but in other ways it can be seen as having come to reality. Haphazard population increase has led reduce wages in the work environment and this has perpetuated poverty in such areas. The relationship between population increase and poverty is very imminent in light of scramble for the few opportunities available. Increase in population numbers provides alternatives manpower since there is more supply than demand and this can only work on reducing the wages of the workers (Malthus 112). The state of population explosion can also lead to high level of unemployment and this impact negatively on the younger generation in which the youths are involved in the law breaking due to frustration a situation refereed to as juvenile delinquency. In his publication ‘Additions to an essay on the principle of population’, Malthus intrinsically evaluated the connection between the global population increase and employment opportunities vis a vis wages com pensation (Malthus 213). In regard to this he did made a hypothesis that the increase in the world population will catalyze poverty introduction as well as low income through wages to the workers. This is because of the readily available workforce. This came to be widely known as ‘The Iron Law of Wages’ (Malthus 246). The exponential population incr

Statement of Purpose Essay Example for Free

Statement of Purpose Essay This was the lesson I learnt from my father, an unceasing learner and a person who would never give up no matter how many and how difficult the obstacles may be. Having understood from him that success is a moving target, the years of my life with my family have inculcated in me a desire to achieve perfection. I propose to read myself starting from childhood to school days to college days to the vestibule of my career. In a few months’ time, I will be completing my B. Pharm prestigious University namely Acharya Nagarjuna University, A.P, India. I am now in the next stage of building my career. I am aware of the influence that the decision will have on my life and I find that I have no hesitation in progressing along a path I had been planning over the last four years. It is my firm conviction that, that one should apply one’s creativity and talent to contribute something original in science and technology. This calls for a specialization in the field of one’s interest. It is in this respect that, I feel undergraduate education is lacking in depth. A graduate education at a reputed university would be invaluable in honing my skills and knowledge, which are very vital for shaping my career. After a careful consideration of my academic background, abilities and career goals, I have decided to pursue my graduate studies in the field of Chemistry. While my graduate study has helped me develop an insight into my intended area of specialization and the ability to relate developments in fundamental concepts to analytical chemistry, it still cannot support my desire for research and design. I therefore strongly believe that a detailed research chemistry from your university will be a step forward in achieving my objective of launching a career in research and designing. My final year project â€Å"Anti-diabetic activity of Passiflora edulis†, was an attempt to identify various chemical constituents present in Passiflora fruit and establishing their activities. The project done offered great insight into Chemistry of Natural Products, Chemical tests and Pharmacological principles. Team spirit and leadership traits were brought to the fore and honed. I was admitted under the merit seat category into Chalapathi Institute of Pharmaceutical Sciences College. During my undergraduate studies at CIPS , I learnt subjects like Organic Chemistry ,Inorganic Chemistry,Medicinal Chemistry,Chemistry of natural Products, Physical Pharmacy,Pharmaceutics, Pharmacology,Pharmaceutical analysis subjects as a part of my course curriculum. I have a strong desire to learn whatever I can, and self-reliance to face challenges put forth. A master’s degree from your university will be a deciding factor in shaping my future. I’m confident that the technical knowledge that I gain in the United States of America will help me in playing a constructive role in the progress of mankind. Through the brochure, my friends and also by browsing the web, I came to know that WVU is one of the leading and prestigious institutions for research and the curriculum matches my study objectives. It would be an invaluable opportunity for me to work with the renowned faculty at WVU for my graduate study. I assure you that if I am admitted, I shall strive to contribute significantly to live up to your expectations. I hope that my credentials and background rise up to the standards expected and look forward to pursue my graduate studies there. I request you to consider me for admission with full financial assistance to the Department of Chemistry..

Violin Essay examples -- Literature Music Composers Essays

Violin Music and art, the feelings that go through a person while the music of Mozart and Beethoven are playing, are indescribable. Listening to music can take a person away to a different era. Music like Mozart or Beethoven can really take a person's imagination soaring in a whole new perspective. Composers throughout the novel, Violin were Beethoven, Mozart, and Tchaikovsky. Violin was a truly fabulous name for this story. It contains many fantastic elements as well as realistic elements; however, it should not be confused with magical realism. Violin copy written in 1997 by Anne Rice. She has written several novels that were imaginary and fantastic. The novels that Anne Rice has written have that kind of effect on a person while reading her novels. During the story, the unreal elements of the story started with the fact that she kept her husband with her after he had been passed away for several days. The unreal elements of this situation is that anybody in her right mind wouldn't keep a dead body in the house with her and not tell anybody that he was dead. In a matter of time, the body would start to smell and start to rot. One of the unreal elements that are in the story was the man standing outside playing the violin. The man would stand in the light of the lamppost in the alley and play the violin. Watching the man playing the violin through the window made the main character think that she was dreaming. Listening to the music during the course of this type of emotional state that she was in made her stay calm and find herself in a type of dreamland. The music would take her somewhere else besides reality. Music can take a person elsewhere, in the future, in the past, and in la la land. Even though music can b... ...gical realism is in the fact that the woman didn't want to give up her husband and face reality. She kept him as long as she could to her self until she had to give him up. Grief happens this way in the real world. The family members do not want to give up the family member who has passed away. The magic was in the story; fantastic was also here in the story. Also, the music by Mozart and Beethoven can really take a person's imagination soaring in a whole new perspective. The Violin has suspense and excitement' the anticipation of the happenings during the story was uneventful. Works Cited Rice, Anne, Violin. N.Y.: Alfred A. Knopf, 1997. Robkin, Eric S. The Fantastic in Literature. Princeton, N.J. : Princeton UP, 1978. Todorov, Tzvetan. The Fantastic: A Structural Approach to a Literary Form. Cleveland: The Press of Case Western Reserve University, 1973.

Characterization of Grandma Essay

In the story â€Å"A Visit to Grandmother† by William Melvin Kelley, the grandma was given many characterizations based on her appearance, words, actions, and by what people say about her. All the characterization of Grandma told the readers a lot about her and made it easy for the reader to understand the story from grandma’s perspective. First off, in the story the author describes Grandma as a lucky and unique person by providing the reader with some text evidence. The author states saying that grandma has all her teeth which is unbelievable. This makes grandma unique because most people around her age have lost many of their teeth. This is one of grandma’s characterizations based on her appearance. Also, in the story Grandma told her daughter Mai, not to make the food because she does not like relying on other people, in other words she is self reliant. She does not like other people to do jobs for her just because she’s old. She might be old but she still believes that she is capable of doing things she used to do when she was younger. This is characterization of grandma based on her own words. Lastly, the reader could refer to Grandma as an unjust person based on what other people say about her. An evidence for this characterization is when one of her son said that she never treated him the same way she treated her younger son because the younger son was lighter skinned and good looking then the older son. Charles, grandma’s oldest son refers to her as an unfair person, but this was something she was never aware of because he never told her how he felt, at the end she learned something. In conclusion, grandma had many different characters some bad and some good but, after all no one is perfect. Throughout the story not only did the reader get to know Grandma, but Grandma herself got to know what kind of person she is based on her many different characters.