Do Modern Finance And Government Intervention Crash The Financial Research Paper

Do Modern Finance And Government Intervention Crash The Financial System - Research Paper Example This crisis resulted in severe issues including threat of total failure of large financial institutions, evictions, foreclosures, stock market downturns, housing market meltdowns, job terminations, and prolonged unemployment. Evidently, the 2008 global financial crisis significantly reduced the growth rate of countries worldwide and many western economies including US suffered huge net losses. A large number of business organizations went out of the business and thus many investors lost their money. Investigation reports indicate that it was the US housing bubble that led to the damage of financial institutions worldwide. Even though the US Federal government has pumped a huge volume of money into the market, the US economy has not yet completely recovered from the impacts of the crisis. This research paper will critically analyze the crash of the global financial system by referring to the book ‘Alchemists of loss: How modern finance and government intervention crashed the fin ancial system’ written by Dowd and Hutchinson. The paper will particularly evaluate whether the elements of modern finance and government intervention have played a role in crashing the financial system. An Overview of Modern Finance Emergence of floating currencies was a major event led to the development of modern finance. In 1971, Richard Nixon, the 37th president of the United States, suspended the dollar’s convertibility into gold in order to resolve financial difficulties associated with a huge trade deficit and Vietnam War. This policy brought an end to the Bretton Woods system of fixed exchange rates whereby capital flow from one country to another had been limited by exchange regulations. Since investing abroad was an expensive task under the Bretton Woods system, pension funds had kept their money home. According to Caldentey and Vernengo (2010), the policy amendment made the currencies floatable and entirely changed the way financial markets operate; and this change also created the need of currency hedging and resulted in the introduction of futures in financial markets. The floating exchange rates played a crucial role in the development of liberalized markets, which eliminated credit controls and promoted the entry of new lenders. Another effect of the new exchange rate system was the abolition of capital controls and this process led to a sharp appreciation of the dollar and pound. Institutions like insurance companies and pensions funds could freely move money without cross border limitations. In 1975, America introduced a financial reform to eliminate the distinction between brokers and jobbers and thereby to slash commissions. This reform gradually led a long term decline of broking revenues and widely restructured the industry. The increased need for capital forced investment banks either to make money on the stock market or to combine with commercial banks. The broadening of banking businesses resulted in more complex banking transactions and firms started to engage in more risky business ventures. In order to mitigate the growing level of business uncertainty, new forms of exchange rate risk reduction mechanisms such as options and swaps were introduced. In the w ords of Ryder, â€Å"futures, options, and swaps all have the same characteristic: a small position can lead to a much larger exposure† (cited in The Economist). In order to take advantages of the changes in global business environment resulting from globalization, creditors began to lend huge amounts of money to entrepreneurs and other

Dramatic and relevant to a modern audience Essay Example for Free

Dramatic and relevant to a modern audience Essay Lots of the characters under go personal development: for example Reverend Hale, who at first is all to eager to shout witch but in the end is very disbelieving. My personal belief is that the events are a testament of how people shouldnt live in a social structure that is overly tight. A crucible is a metal container in which metals are melted to extract their pure element from the impurities. This can easily be linked to the play: first witches supposedly boil potions in cauldrons and a synonym for cauldron is crucible. Secondly, it has a metaphorical meaning: the society of Salem is being heated and stirred in an attempt to remove the impurities and leave only the pure members of the society. An artificial Noahs Ark, as it were, however this plan backfires some. Act 1 mainly revolves around Abigail and the girls being caught dancing in the woods. The drinking of blood is supposedly a charm to kill Elizabeth Proctor. Abigail wants to be with Proctor after Elizabeth kicked her out for having an affair with Proctor: I know that you clutched my back out side your house and sweated like a stallion when ever I come near, or did I dream that? It is she put me out, you cannot pretend it were you. I saw your face when she put me out. You loved me then and you do now! Abigail Proctor is fighting an internal conflict; we know that on one side he wants to be with Abigail because: [Looking at Abigail now, the faintest suggestion of a knowing smile on his face] Stage direction But we also know that he feels very guilty about Elizabeth: I mean to please you Elizabeth Proctor However, he does tell Abigail that he wants nothing more to do with her: Abby, I may have thought of you softly from time to time. But I will cut off my hand before I reach for you again. Wipe it out of mind. We never touched Abby. Proctor All the time this encounter has been in occurrence, sexual tension is building in the audience. They are also learning about Proctors and anti-hero characteristics. We learn that his name is not entirely white. He is not perfect, and the same applies to most of the characters, they all have good and bad points. I think there are two important points here. One is that Abigail is trying to seduce Proctor with seductive language, and two: Betty is only pretending to be inert. She would have heard all of this, and that is most likely the reason behind her getting up and trying to jump out of the window. Also in Act 1 Abigail threatens marry Warren, Betty and the other girls against telling anyone anything: Let any of you breathe a word, or the edge of a word, about the other things and I will come to you in the black of some terrible night and bring a pointy reckoning that will shudder you and you know I can do it I can make you wish you had never seen the sun go down Abigail It is here that we learn just how aggressive and manipulative that Abigail really is. She was trying to manipulate Proctor and now she is being extremely aggressive and even explicit towards the girls. We can tell that this is a frantic and tense moment on stage by the over average use of exclamation marks and use of short sentences. We can also see physical violence from Abigail as she violently shakes Betty around. Visually this would be interesting for the audience, creating both anger and tension. There is contrast in the loud violence of this moment to the quiet seduction from Abigail before. Act 2 contrasts from the end of Act 1, in the fact that it is a calm and peaceful scene, over the loud fear-driven hysteria of the end of Act 1. Proctor comes home from seeding his farm late at night, and he sits down to eat, with Elizabeth. From the general feel of the scene we can gather that the common room of Proctors house is cold, empty and unwelcoming. This parallels with the relationship between John and Elizabeth. Theres is a great amount of tension between the pair, and they idly make chit-chat at the table, as they feel they need to: Proctor: Pray now for a good summer. Elizabeth: Aye It should be noted that it is Proctor who is trying to make conversation; Elizabeth is spoiling his attempts with one-word answers. Proctor is feeling frustrated because Elizabeth is not acknowledging that Proctor is trying his hardest to repair the relationship. He is forever claiming his desire to please Elizabeth: I mean to please you Elizabeth. Proctor I believe that the audience would to be getting frustrated with Elizabeth not forgiving him. The tension in the audience would also rise, due to the complete lack of any sexual tension. Arthur Millers The Crucible raised issues that were as relevant in the 1950s as they were today. The idea of conformity will always exist. People who define this ideologies and beliefs by which groups of people live will always exist. As will accusations made towards one group from another group, to solve their problem, or help their cause. Arthur Millers play took on some very strong issues, that are still relevant to date, it is one that cannot be ignored because of Millers ability to touch issues and themes that have plagued mankind all through history, and will continue to do so in the future.

Organic Anion Transporters Essay -- Biology

The main location of the protein organic anion transporter 3 is in the kidney and the function of the kidney is to get toxins, usually in the form of organic anions, or even medications out of the body. In order to separate and transport these toxins through the blood to the kidney, specific proteins called organic anion transporters (OAT) exist. The sole function of these proteins is to bind to these molecules and take them to the kidney where they can be separated from the blood and excreted. The way these proteins work is that they have a highly specific active site (or binding site) which has unique properties that make it prone to attaching to various organic anions. To better understand the role of OAT 3, a specific OAT protein which is present in the choroid plexus (spinal fluid) and the kidney, an experiment was conducted in which this protein was removed from rats by replacing the DNA code for OAT 3 with a similar, but not functional code. These OAT 3 knockout rats showed an inability to transport certain organic anions including toxins, hormones, and drugs. Methods Procedures: 1. Isolation of the OAT3 Gene 2. Analysis of changes in tissues of the wild type and OAT3 type 3. Northern Analysis 4. RT-PCR 5. Methods of Measuring Transport 6. Confocal Fluorescence Microscopy 1. Isolation of OAT3 gene: The strategy used here was a deletion of exon 3. An exon is a portion of a DNA molecule that codes for part of a polypeptide, which gets expressed. So the deletion of this particular exon caused a frame-shift mutation and a premature stop codon to be brought in. This just means that the messenger RNA (mRNA) that is transcribed from the gene gets translated normally until the ribosome co... ...family will allow humans to further expand the effectiveness of drug treatment. First, if the organic anion transport system could be blocked, certain medicines then would stay in the system longer that would otherwise have been excreted. This would allow for more effective and shorter treatment. Second, not everyone has the same amount of organic anion transporters in their system, thus by genotyping a patient and discovering the amount of the transporters present in the individual, a personalized drug regiment could be devised , making it more effective for the individual. Third, by identifying the anion transported by each OAT (OAT 1-4), certain toxins could be transported out of the system much faster and prevent less damage of certain toxins to the system. By altering the amounts of the OAT family present doctors could speed up the recovery process.

Statement of Facts

This case in Fenton, Missouri involves 17 yrs. old Christopher Simmons born in 1993. Charles Benjamin and John Tessmer were Christopher Simmons friends and accomplices. Christopher Simmons planned and committed a capital murder along with Charles Benjamin. The plan was to commit burglary and murder by breaking and entering, tying up Shirley Crook, and tossing her off a bridge. The three boys met at 2am in the morning however, Tessmer then dropped out of the plan. Simmons and Benjamin broke into Mrs. Crook's home, bound her hands and covered her eyes. They put Mrs. Crook in a minivan drove her to a state park and threw her off a bridge. Once the case was brought to trial court, the evidence was solid and overwhelming. Simmons had confessed to the murder, performed a videotaped reenactment at the crime scene, and there was testimony from John Tessmer against him that showed premeditation. After the crime Christopher discussed the plot in advance and later bragged about the crime. After 2 hours of investigation Christopher broke down and confessed. At trial the State introduced Simmons confession and the videotaped reenactment of the crime, along with testimony that Simmons discussed the crime in advance and him bragging to fellow classmates about it later. The defense called no witnesses due to the evidence and confession. The jury having returned a verdict of murder, the trial proceeded to the penalty phase. The jury returned a guilty verdict. The jury recommended a death sentence in which the trial court imposed despite Christopher not having a criminal background. The State charged Simmons with burglary, kidnaping, stealing, and murder in the first degree. Simmons was 17 at the time of the crime. He was outside the criminal jurisdiction of Missouri’s juvenile court system. Charles Benjamin and was 15 years old and John Tessmer was 16 years old. The State later charged Tessmer with conspiracy, but dropped the charge in exchange for his testimony against Simmons. The jury recommended the death penalty after finding the State had proved each of the three aggravating factors submitted to it. Accepting the jury’s recommendation, the trial judge imposed the death penalty. Defense counsel reminded the jurors that juveniles of Simmons age couldn’t drink, serve on juries, or even see certain movies, because â€Å"the legislatures have wisely decided that individuals of a certain age aren’t responsible enough. Defense counsel argued that Simmons age should make a huge difference to the jurors in deciding just exactly what sort of punishment to make. Procedural History At eh age of 17, Christopher Simmons along with partner Charles Benjamin planed and killed Shirley Crook. After, he turned 18 he was sentenced to death. Christopher processed a direct appeal and subsequent petitions for state and federal post convictions relief but was rejected. Simmons filed a new petition for state post convection relief arguing that Atkins v. Virginia reasoning established that the constitution prohibits the execution of a juvenile who was under the 18 when he committed the crime. The Supreme Court agreed in favor of Simmons and abandons the death sentence in agreement of life imprisonment without the possibility of parole. Issues Does the Eighth Amendment prohibit the execution of juveniles who commit capital crimes prior to turning 18 years of age? Arguments For Roper * Currently, juries are very careful when they decide whether a 16 or 17 year old should be given the death penalty. When sentences are made, the jury considers the defendant’s age and other relevant information. Since only one juvenile has been executed in Missouri, this shows that juries only use the death penalty for the worst offenders. * Since 1989, only Indiana, Montana, South Dakota, and Wyoming have changed their laws to make it impossible for 16 and 17 year olds to get the death penalty. The previous amount of states was not enough show the nation agrees on this issue. * The Supreme Court case that ruled against using the death penalty for the mentally retarded Atkins v. Virginia should not be compared to this case. Sixteen and seventeen year old offenders should not be placed in the same category with the mentally retarded. Juries should decide in each individual case whether a juvenile was mature enough to take responsibility for a crime. * Some crimes are so horrible that the death penalty is the only appropriate sentence. It is better for society to remove the worst criminals with the death penalty. Using the death penalty will also discourage other youth from committing crimes. Arguments For Simmons * In many cases, juries are overwhelmed by how horrible the crimes are that some juveniles commit. It is a problem, then, for juries to consider the maturity of a juvenile in each individual case, because the crime itself may make it difficult for the juries to be fair. The juries may get distracted by the crime and not consider the offender’s age as an explanation for the crime. * A national consensus has developed in which the majority of states do not support the use of the death penalty for juveniles. Currently, 30 states prohibit the juvenile death penalty, and 12 of those states have banned the death penalty completely. In addition, since 1989, five states that previously allowed the juvenile death penalty have banned its use. Most other countries in the world disapprove of using the death penalty on juvenile offenders. The United States is one of the only countries in the world that still allows the execution of juveniles. There is a clear global opinion that the death penalty is too strong a punishment for offenders under the age of 18. * There is research that shows that adolescents do not have the maturity and judgment necessary to fully weigh decisions and control their impulses. Brain research shows that the brain is not fully developed until adulthood. Our society has decided that age 18 is an important turning point. The majority of states do not allow people under the age of 18 to vote, serve on juries, or marry without their parents’ permission. It makes sense then that 18 should also be the age when a person can be held fully responsible for committing a crime. Judgment The United States Supreme Court judgment in the Roper v. Simmons cases ruled in favor of Simmons. The United States Supreme Court said, â€Å"that sentencing a minor to death was indeed cruel and unusual punishment and voided against the 8th amendment†. The United States Supreme Court overturned the ruling that was established in Sanford v. Kentucky case that took place in 1989, in which the court decided that minors could be subject to the death sentence only if the charges warrant execution. Christopher was sentenced to life in prison with out the possibility of parole. Holding The Eighth and Fourteenth Amendments forbid obligation of the death penalty on offenders who were under the age of 18 when their crimes were committed. Supreme Court of Missouri affirmed and the United States overruled the Atkins v. Virginia case and Simmons original sentence. Rule Of Law Or Legal Principles Applied The 8th amendment is prohibits cruel and unusual punishment. Any amendment is an unchanging statue. Therefore the case itself or whatever the ruling is has to change if proven justified. Reasoning The Missouri Court voted 6 to 3 that he should receive the death penalty. They believed if he was older and committed murder it would just get worse f rom there. The lawyers argued that this was unfair punishment for a boy who couldn’t see an R rated movie. The Supreme Court voted 5 to 4 that executing a minor is cruel and unusual punishment. Society didn’t like the view of executing children. What he did was wrong but at the same time he is still a child and should be treated like one. If they had executed him society would have a negative aspect on the criminal justice system. Additional Comments I think Christopher Simmons deserve the death penalty. Despite he background and rough up bringing that doesn’t give you the right to kill an innocent lady for no reason. Due to the planning and precision behind the murder he deserves to die. His intentions from the beginning were for her to die and die painfully. Tying her up and throwing her off the bridge requires a lot of hatred and regards for humanity. Despite his confessing to the murder Chris didn’t feel remorseful for the family or his actions. My opinions would be different if he had a mental disorder, suffered more serious child neglect or maybe Shirley harmed his family in retaliation he killed her. Other wise Chris actions are similar to the James Holmes massacre and the Newtown shooting. All three deserve to die slow in my opinion.

The Importance of Comprehensive Classroom Management

The teacher is a manger. The organization he or she manages is a group of students from diverse backgrounds and with differing skills and abilities. Some are already eager learners, while others have to be awakened to the joys and satisfactions of learning. Still others have special problems that must be dealt with effectively in order for them to learn and in order to maintain an environment conducive to learning for the whole group. It's important, first, to provide students with opportunities to learn about things that interest them and then, to find ways to introduce the learning that peaks the student's interest. If the teacher can find ways to relate the topic to the student's present experience, and provide interactive learning activities that the student can actively participate in, then the student will gain motivation. The physical environment plays a role in learning too. Some students learn better in different lighting (softer or brighter), sitting at a desk or lying on the floor, with music on or in perfect silence, in a warmer or cooler place, etc. The teacher can establish areas in the room that meet these different needs and styles of learning. Students who learn better lying down, for example, could bring mats to school that can be unrolled for study time. A small tent in the corner could provide the dimmer light some students need. A radio or CD player with earphones could be allowed during study time provided it truly helps the student to learn. The importance of reasonable rules that everyone understands can hardly be overestimated. On the first or second day of school the teacher could initiate an interactive discussion with the students about why rules are needed in the classroom. Let students share a few experiences that happened when there were no rules. Then, ask them to come up with no more than five rules for classroom behavior. They could each write down a rule or two they think is important on an index card, and the teacher could then let each person read what he/she wrote down. A list could be generated on the board. Or, they could start by brainstorming a list of every rule they can think of, then evaluate, eliminate, combine (just the word respect, for example, includes many rules), and whittle them down into three to five good rules. A student with good handwriting or an artistic bent could be chosen to make a large poster with the rules, or a bulletin board for classroom display where everybody can see it. Once the students have set their classroom rules, they are invested in them. I have tried this with grades 4-7 students, and it worked very well to establish an orderly learning environment. The students took the rules more seriously because they had had a say in setting them. It teaches democracy, too. If the students do not think of something the teacher considers important, the teacher can add it to their list and explain why. However, this is unlikely. In my experience, the student's rules tend to be very good-actually, the same rules I would have made myself, only they mean more to the students since they have developed them as a group and the rules are in their own words. Lane and Wehby (2005) report that 1% of school age children have been labeled emotionally disturbed and are receiving special education services because of it. They estimate an additional 2% to 16% of U. S. students who demonstrate anti-social behavior patterns such as defiance disorders or conduct disorders. When a student is oppositional or defiant, the teacher must be careful not to respond angrily and get into a confrontation. Teachers should be aware of their own triggers so that they can control their own behavior. This will help them to avoid a confrontation. It is best to remain calm and to diffuse the student's anger before it escalates into a crisis and/or violence. If a student refuses to do a certain task, offering an alternative choice may help, and it would be a good idea for the teacher always to have alternative tasks ready just in case-alternative activities that are still learning activities. A sense of humor may be a teacher's best defense when students are uncooperative. It is better to prevent escalation than to deal with a crisis later. One way to do this is to reinforce good behavior with praise, a smile, gesture, touch, â€Å"or a pleasant comment when they display unprompted, socially appropriate behavior† (Albin, 2003). Don't wait until students are disruptive to pay attention to them! Teachers should make the effort to notice and praise good behavior and reward it. Punishment is a negative way of dealing with problematic behavior. It may provide reinforcement for bad behavior if the reason the student is misbehaving is because he/she wants attention. If a student misbehaves because he doesn't want to do his work, and then gets sent out in the hall or to the office, then he gets what he wanted, and the bad behavior is reinforced. Rewards for positive behavior, such as time to do an activity the students loves, a toy or candy, or one-on-one time with the teacher (just to talk and visit for a few minutes) makes students happy to learn and to be in school. Punishment often produces resentment, and may make the student hate school. A student who hates school is not an eager learner, so punishment can be anti-productive (Peck & Scarpati (2005). Teachers commonly deal with difficult students by restricting them-the more intense the student's needs are, the more restriction–such as placing a child's desk toward the wall (Duhaney, 2003). However, a needs-based approach is more positive and effective and suggests recourse to greater resources. Perhaps the child needs to learn appropriate ways to handle anger and aggression, more problem-solving skills, or receive feedback for appropriate behaviors. If the child has trouble with self-control, instructional strategies could include modeling, role-play, and feedback to help him stay out of fights, solve problems, express anger appropriately, and deal with frustration. Without intervention students with or at risk for behavioral disorders are liable to experience many negative outcomes both in school and outside such as impaired social relationships, academic underachievement, and discipline problems (Lane, Wehby, & Barton-Arwood, 2005). Social skills interventions have been used and evaluated for more than 25 years, but their efficacy continues to be questioned. Researchers suggest that social skills training makes only a modest impact; however, most educators agree that not doing anything is worse. The ability to adapt and modify instruction is crucial to effectively educating these children. Before starting an intervention, it would be wise to gather information about the student, such as why, where and when he uses the particular behavior. Identify what social, affective, cultural, or contextual elements might be at work, and analyze the information. List the specific behaviors and describe where when and with whom the behavior is likely to occur. What consequences are usually administered? Keep anecdotal records so you can look for patterns and what triggers the behavior. Then figure out what strategies might be effective to avoid the behavior; for example, teach self-talk to students who are impulsive and organize the classroom environment to help hyperactive students. Consider making a contract with the student. Develop personal schedules for students who have difficulty making good use of their time. Consider implementing a token economy in which the teacher systematically awards or withdraws tokens or points for appropriate or inappropriate behavior. The student can redeem the tokens for something he wants such as privileges, desired activities, or food. Conflict resolution is a way to help students express their feelings and communicate better with others. We tend to see conflict as negative because of the disruption it causes in the classroom; however, conflict is neither good nor bad but simply a fact of life. According to Vollmer, Drook and Harned (1999) â€Å"Learning through social conflict is important to all human development† (p. 122). As children develop cognitive reasoning skills, they begin to see that others have perspectives, needs, and desires too. Early training with role plays and simulations will help them develop the social skills they need to maintain relationships. Students can be taught a process for resolution of conflict. One way is to use a large visual of a traffic light which shows the steps to conflict resolution and includes the words Cool down and Ground Rules (RED), Tell your side and Listen (YELLOW), and Brainstorm and Ideas (GREEN). A turn arrow at the bottom has the words Choose solution, and do it and Shake hands. Teachers report that students take more responsibility and often initiate conflict-resolution strategies on their own after learning and practicing this system (Vollmer, Drook & Harned, 1999, p. 124). The teacher should provide a quiet place in the room where students can work things out when they have a conflict. Once they have mastered a structured routine for conflict management, it will be unnecessary for the teacher to get involved. Classroom management is a challenge that requires the teacher to put his or her heart into it. An ancient Chinese proverb states that a student only learns from a teacher who loves home. In other words, a child needs to feel accepted and that the teacher cares about him or her. All children have basic needs–physical needs, safety needs, and social needs–that must be met before they can feel free to learn and develop to their true potential. If their needs are met and a positive learning environment is created, they will learn and be eager to participate. Therefore, the teacher's goal should be, not to fill their heads with specific information, but to make learning possible in a calm, structured, safe, and flexible environment and help them gain the skills to go after knowledge. The Importance of Comprehensive Classroom Management The teacher is a manger. The organization he or she manages is a group of students from diverse backgrounds and with differing skills and abilities. Some are already eager learners, while others have to be awakened to the joys and satisfactions of learning. Still others have special problems that must be dealt with effectively in order for them to learn and in order to maintain an environment conducive to learning for the whole group. It's important, first, to provide students with opportunities to learn about things that interest them and then, to find ways to introduce the learning that peaks the student's interest. If the teacher can find ways to relate the topic to the student's present experience, and provide interactive learning activities that the student can actively participate in, then the student will gain motivation. The physical environment plays a role in learning too. Some students learn better in different lighting (softer or brighter), sitting at a desk or lying on the floor, with music on or in perfect silence, in a warmer or cooler place, etc. The teacher can establish areas in the room that meet these different needs and styles of learning. Students who learn better lying down, for example, could bring mats to school that can be unrolled for study time. A small tent in the corner could provide the dimmer light some students need. A radio or CD player with earphones could be allowed during study time provided it truly helps the student to learn. The importance of reasonable rules that everyone understands can hardly be overestimated. On the first or second day of school the teacher could initiate an interactive discussion with the students about why rules are needed in the classroom. Let students share a few experiences that happened when there were no rules. Then, ask them to come up with no more than five rules for classroom behavior. They could each write down a rule or two they think is important on an index card, and the teacher could then let each person read what he/she wrote down. A list could be generated on the board. Or, they could start by brainstorming a list of every rule they can think of, then evaluate, eliminate, combine (just the word respect, for example, includes many rules), and whittle them down into three to five good rules. A student with good handwriting or an artistic bent could be chosen to make a large poster with the rules, or a bulletin board for classroom display where everybody can see it. Once the students have set their classroom rules, they are invested in them. I have tried this with grades 4-7 students, and it worked very well to establish an orderly learning environment. The students took the rules more seriously because they had had a say in setting them. It teaches democracy, too. If the students do not think of something the teacher considers important, the teacher can add it to their list and explain why. However, this is unlikely. In my experience, the student's rules tend to be very good-actually, the same rules I would have made myself, only they mean more to the students since they have developed them as a group and the rules are in their own words. Lane and Wehby (2005) report that 1% of school age children have been labeled emotionally disturbed and are receiving special education services because of it. They estimate an additional 2% to 16% of U. S. students who demonstrate anti-social behavior patterns such as defiance disorders or conduct disorders. When a student is oppositional or defiant, the teacher must be careful not to respond angrily and get into a confrontation. Teachers should be aware of their own triggers so that they can control their own behavior. This will help them to avoid a confrontation. It is best to remain calm and to diffuse the student's anger before it escalates into a crisis and/or violence. If a student refuses to do a certain task, offering an alternative choice may help, and it would be a good idea for the teacher always to have alternative tasks ready just in case-alternative activities that are still learning activities. A sense of humor may be a teacher's best defense when students are uncooperative. It is better to prevent escalation than to deal with a crisis later. One way to do this is to reinforce good behavior with praise, a smile, gesture, touch, â€Å"or a pleasant comment when they display unprompted, socially appropriate behavior† (Albin, 2003). Don't wait until students are disruptive to pay attention to them! Teachers should make the effort to notice and praise good behavior and reward it. Punishment is a negative way of dealing with problematic behavior. It may provide reinforcement for bad behavior if the reason the student is misbehaving is because he/she wants attention. If a student misbehaves because he doesn't want to do his work, and then gets sent out in the hall or to the office, then he gets what he wanted, and the bad behavior is reinforced. Rewards for positive behavior, such as time to do an activity the students loves, a toy or candy, or one-on-one time with the teacher (just to talk and visit for a few minutes) makes students happy to learn and to be in school. Punishment often produces resentment, and may make the student hate school. A student who hates school is not an eager learner, so punishment can be anti-productive (Peck & Scarpati (2005). Teachers commonly deal with difficult students by restricting them-the more intense the student's needs are, the more restriction–such as placing a child's desk toward the wall (Duhaney, 2003). However, a needs-based approach is more positive and effective and suggests recourse to greater resources. Perhaps the child needs to learn appropriate ways to handle anger and aggression, more problem-solving skills, or receive feedback for appropriate behaviors. If the child has trouble with self-control, instructional strategies could include modeling, role-play, and feedback to help him stay out of fights, solve problems, express anger appropriately, and deal with frustration. Without intervention students with or at risk for behavioral disorders are liable to experience many negative outcomes both in school and outside such as impaired social relationships, academic underachievement, and discipline problems (Lane, Wehby, & Barton-Arwood, 2005). Social skills interventions have been used and evaluated for more than 25 years, but their efficacy continues to be questioned. Researchers suggest that social skills training makes only a modest impact; however, most educators agree that not doing anything is worse. The ability to adapt and modify instruction is crucial to effectively educating these children. Before starting an intervention, it would be wise to gather information about the student, such as why, where and when he uses the particular behavior. Identify what social, affective, cultural, or contextual elements might be at work, and analyze the information. List the specific behaviors and describe where when and with whom the behavior is likely to occur. What consequences are usually administered? Keep anecdotal records so you can look for patterns and what triggers the behavior. Then figure out what strategies might be effective to avoid the behavior; for example, teach self-talk to students who are impulsive and organize the classroom environment to help hyperactive students. Consider making a contract with the student. Develop personal schedules for students who have difficulty making good use of their time. Consider implementing a token economy in which the teacher systematically awards or withdraws tokens or points for appropriate or inappropriate behavior. The student can redeem the tokens for something he wants such as privileges, desired activities, or food. Conflict resolution is a way to help students express their feelings and communicate better with others. We tend to see conflict as negative because of the disruption it causes in the classroom; however, conflict is neither good nor bad but simply a fact of life. According to Vollmer, Drook and Harned (1999) â€Å"Learning through social conflict is important to all human development† (p. 122). As children develop cognitive reasoning skills, they begin to see that others have perspectives, needs, and desires too. Early training with role plays and simulations will help them develop the social skills they need to maintain relationships. Students can be taught a process for resolution of conflict. One way is to use a large visual of a traffic light which shows the steps to conflict resolution and includes the words Cool down and Ground Rules (RED), Tell your side and Listen (YELLOW), and Brainstorm and Ideas (GREEN). A turn arrow at the bottom has the words Choose solution, and do it and Shake hands. Teachers report that students take more responsibility and often initiate conflict-resolution strategies on their own after learning and practicing this system (Vollmer, Drook & Harned, 1999, p. 124). The teacher should provide a quiet place in the room where students can work things out when they have a conflict. Once they have mastered a structured routine for conflict management, it will be unnecessary for the teacher to get involved. Classroom management is a challenge that requires the teacher to put his or her heart into it. An ancient Chinese proverb states that a student only learns from a teacher who loves home. In other words, a child needs to feel accepted and that the teacher cares about him or her. All children have basic needs–physical needs, safety needs, and social needs–that must be met before they can feel free to learn and develop to their true potential. If their needs are met and a positive learning environment is created, they will learn and be eager to participate. Therefore, the teacher's goal should be, not to fill their heads with specific information, but to make learning possible in a calm, structured, safe, and flexible environment and help them gain the skills to go after knowledge.

How to Land Your First Teaching Job

How to Land Your First Teaching Job Landing your first teaching job is not easy. It takes time, hard work and a lot of patience. Before you hit the ground running make sure you have the appropriate degree and credentials for the position you are applying for. Once thats all in order, follow these tips to help you get that dream job. Step 1: Create a Cover Letter Resumes have always been the most important piece of getting an employers attention. But when an employer has a stack of resumes to look through, how do you think yours will stand out? That is why a cover letter is essential to attach to your resume. It makes it easy for an employer to see if they even want to read your resume. It’s important to tailor your cover letter to the specific job you are applying for. Your cover letter should highlight your accomplishments and explain things that your resume cannot. If you have a special teaching certificate this is where you can add that. Make sure that you request an interview at the end of the cover letter; this will show them that you are determined to get that job. Step 2: Create Your Resume A well written, error-free resume will not only grab the attention of the prospective employer, but it will show them that you are a qualified contender for the job. A teacher resume should include identification, certification, teaching experience, related experience, professional development and related skills. You can add extras like activities, memberships, career objective or special honors and awards you received if you wish. Some employers look for certain teacher buzz words to see if you are in the loop. These words can include cooperative learning, hands-on learning, balanced literacy, discovery-based learning, Blooms Taxonomy, integrating technology, collaboration and facilitate learning. If you use these words in your resume and interview, it will show that you know what you are on top of issues in the education field. Step 3: Organize Your Portfolio A professional teaching portfolio is a great way to introduce your skills and achievements in a hands-on, tangible way. Its a way to showcase your best work to prospective employers beyond a simple resume. Nowadays its an essential component of the interview process. If you want to land a job in the education field, make sure you learn how to create and use a teaching portfolio. Step 4: Get Strong Letters of Recommendation For every teaching application you fill out, you will have to provide several letters of recommendation. These letters should be from professionals that have seen you in the education field, not from a family member or friend. The professionals you should ask can be your cooperating teacher, former education professor or instructor from student teaching. If you are in need of additional references you can ask a daycare or camp that you worked at. Make sure that these references are strong, if you think they do not do you justice, don’t use them. Step 5: Be Visible by Volunteering Volunteering for the school district you want to get a job in is the best way to be visible. Ask the administration if you can help out in the lunch room (schools can always use extra hands here) the library or even in a classroom that needs extra help. Even if it is only once a week it still is a great way to show the staff that you really want to be there and are making an effort. Step 6: Start Subbing in the District One of the best ways to get the attention of other teachers and the administration is to substitute in the district that you want to teach in. Student teaching is the perfect opportunity for you to get to your name out there and get to know the staff. Then, once you graduate you can apply to be a substitute in that school district and all the teachers that you networked with will call you to substitute for them. Tip: Make yourself a business card with your credentials and leave it on the desk of the teacher you subbed for and in the teachers lounge. Step 7: Get a Specialized Certification If you really want to stand out above the rest of the crowd then you should acquire a specialized teaching certification. This credential will show the prospective employer that you have a variety of skills and experience for the job. Employers will like that your knowledge will help enhance students learning. It also gives you the opportunity to apply for a variety of teaching jobs, not just one specific job. Now you are ready to learn how to ace your first teaching interview!

Federalist Number 18 essays

Federalist Number 18 essays I agree with Madison and Hamilton on federalist paper number eighteen. The main point of the paper is to stress, that if the thirteen colonies dont have some sort of laws amongst themselves they will never survive without fighting each other. Congress is unable to control all thirteen colonies and keep them from fighting. In the paper he compares the present day Confederation of the United States to that of ancient Greeces Amphictyonic council. The amphictyonic council of Greece had general authority to propose and resolve whatever it though necessary for the common welfare to Greece; decide to declare and carry on war; to decide all controversies between its members; to fine the aggressing party; to employ the whole force of the confederacy against the disobedient; and to admit new members. This seemed to work for some short time. This only lasted until the powers, much like those of todays congress were administered. This led to the destruction of the confederacy. After this separate members began to take over and run for several years. These members never stuck together in any situation. Even in the middle of wars they didnt pull together to help or support each other. They instead began tot urn on each other. The powerful members became jealous of each others powers and ambition, there were some members that didnt take part at all, and the smaller members were too weak to help out in any situation. The Achaean league was another society of Grecian Republics formed. This league was somewhat better than the ones before it. The union was far more intimate and its organization was much wiser. They had a senate who they assigned jobs too much like the present congress. It came to a point where one person was left in charge of the whole union and this did not work out. As you can see all of these methods failed. Much like those of today. If we do not have a strong central agency to pul...

23 Things Not To Say To Your Coworkers

23 Things Not To Say To Your Coworkers It’s important to get along with your coworkers. You don’t have to be best friends, but you do have to make sure you don’t alienate or offend anyone; you never know when you might need a favor or a contact or a helping hand. Here are 23 things you should absolutely avoid doing or saying at all costs. Keep your conversation non-contentious and keep your work life drama free.1. â€Å"How much do you make?†This is an awkward and unprofessional thing to ask. Even if your motives aren’t jealous and competitive, it puts everyone in an awkward position. If you really need to find out, there are probably other ways.2. â€Å"Can I borrow some money?†Okay, so you forgot your wallet in your car or in your other purse. Every once in a very little while it’s okay to ask someone to spot you, provided you pay them back the next day at the latest. But if you’re often â€Å"misplacing your wallet,† don’t be surprised if you never g et invited out for lunches or happy hours anymore.3. â€Å"Honestly†This little word can do a surprising amount of damage. If you feel the need to say it, people might wonder why. Are you not always speaking honestly?4. â€Å"Did you hear about†¦?†Just don’t gossip. It will only reflect badly on you in the long run. Especially if it’s a negative comment about a coworker. Keep your mouth shut and stay above the fray.5. â€Å"Those pants look great on you†Compliments are always nice, right? Just keep them neutral, and not based on someone’s appearance or physique. You never want to be accused of sexual harassment. Compliment someone’s earrings or briefcase instead.6. â€Å"You people always†¦Ã¢â‚¬ Any complaint that lumps people together- breastfeeding moms, religious people, political parties- is best never said out loud in the workplace. These kinds of comments can also get you in trouble for harassment.7. â€Å"When are you due?†If you haven’t explicitly been told by a woman that she is pregnant, don’t mention it- no matter how obvious you think it is. When she decides to share with you about her pregnancy, then (and only then) you can comment. This will save you from awkward moments when you make assumptions that don’t turn out to be true.8. â€Å"I’m sorry to bother you.†Why? If you’re really sorry, you won’t do whatever it is you’re going to do. Chances are, you have nothing to be sorry about. Try â€Å"Pardon me; do you have a sec?† instead.9. â€Å"I’m outta here†If you’re looking for another job, resist the temptation to ask your coworkers if they have any leads. At best, they’ll start writing you off as all but gone. And at worst, they’ll spill it to your boss.10. â€Å"Look at this rash.†Even if you think you have a fascinating medical problem, nobody at work really wants to be inv olved. It will probably just gross people out. Feel free to share if you have a headache, but not a boil or wart.11. â€Å"I think†Don’t preface everything with â€Å"I think,† particularly if you aren’t trying to express being unsure. If you know what you’re talking about, go ahead and say it directly.12. â€Å"Wow, I didn’t think you’d get that†Whether it’s a big project or promotion, you’ll win nothing expressing surprise that a coworker got chosen over you. The only acceptable answer here is â€Å"Congratulations.† Keep your shock to yourself.13. â€Å"When I’m in †¦ [insert fancy vacation spot]†If you’re lucky enough to be taking trips to fancy places, try not to brag. â€Å"While I’m away† is just fine for work purposes.14. â€Å"Am I invited?†Everyone is heading out to lunch and you’re still at your desk. Chances are, you weren’t invited. D on’t make things awkward. Give them a chance to ask you along, but if they don’t, then don’t make a scene.15. â€Å"Hook up†Even if you’re just innocently asking someone if they want to grab coffee over the weekend or after work, don’t use the words â€Å"hook up.† â€Å"Get together† will do just fine and spares you the weird sexual overtones.16. â€Å"They won’t miss these†You pocket some goodies from the snack room to take home to your roommates. All well and good unless you get caught- a fire-able offense. Never mind the fact that you shouldn’t steal from work; talking about it will only increase your chances of being caught.17. â€Å"My boyfriend blah blah blah†Constantly indulging personal details is not going to win you many work pals. It’s okay to talk about this with your actual pals, but keep your mouth shut when unsure of the company. You don’t want to be the TMI coworker vot ed â€Å"mostly likely to overshare.†18. â€Å"She took all the credit for my idea†Even if it’s true, you’ll look like a sore loser if you say it out loud. Keep it to yourself, or address the credit-stealer individually in a more appropriate circumstance.19. â€Å"Can I borrow your [personal toiletry]?†No coworker is close enough to share deodorant. Just don’t ask. If you need some, go buy it in your lunch break.20. â€Å"I’m suing.†Don’t make empty threats. If you have a legitimate grievance, talk to your lawyer about it, not your coworkers. Don’t compromise your case by blabbing off.21. â€Å"Your kid doesn’t seem†¦Ã¢â‚¬ Just say no to ever making critical comments about your coworkers’ children. If you don’t have something nice to say about them, keep your mouth shut- or lose the popularity contest before you’ve even begun.22. â€Å"Maybe you should join a gym†Unless yo u’ve been asked directly for fitness or diet advice, don’t broach this subject with anyone. Even if you think a bit of exercise could help them. They will almost always be hurt.23. â€Å"When are you retiring anyway?†Answer: NONE OF YOUR BUSINESS. Plus, it’s very unwise to make assumptions about a coworker’s age.

Competitiveness and investment attractiveness of the South African Essay

Competitiveness and investment attractiveness of the South African food retail industry - Essay Example By 2012, the SAFRI is expected to have a value of $98.1 billion which will be an increase of 32.7 percent over 2011 (Appendix A). While the above figures demonstrate the attractiveness of the market for investments, further evaluation would be conducted to determine the competitive advantage in investing in South Africa. This would be conducted through the extended model of Porter’s National Diamond. 2. Porter’s National Diamond The competitive advantage of an industry, according to Porter, derives from the national ‘diamond’. These four diamonds are the four determinants of competitive advantage created within the home base of the nation state – factor conditions, demand conditions, related and supporting industries, and firm strategy, structure and rivalry. The extended model of Porter’s National Diamond includes government and chance events. An important key feature of the model is that the determinants are supportive of each other and oper ate as a system (Clancy, O’Malley, O’Connell and Egeraat, 2001). This implies that there should be effective flow of information about needs, techniques and technology. Here geographic concentration is important because proximity facilitates flow of information. ... While the basic factors pertain to demographics, location and climate, the advanced factors include communications infrastructure, sophisticated skills and research facilities. South Africa’s population has surpassed 50 million and more than 90 percent of its population is non-white (Arisaig, 2012). Unemployment rate is 25.2 percent and the average life expectancy is only 57 years. Unequal distribution of wealth has resulted in the poorest ten percent earning just one percent of the total national income. Poor education system can be attributed to high rates in unemployment. However, the country has modern infrastructure and the retail sector is sophisticated although dominated by local products (Ntloedibe, 2012). The country also has a well developed communications network and electricity supply is also reliable. In addition, South Africa also has a network of merchant banks, brokers, and financial services specialists. Investments in technology and telecommunications are inc reasing which will enhance business infrastructure thereby enabling the companies to compete with the countries in the West (Maxwell, 2013). The southernmost country on the African continent, South Africa is one of the most economically prosperous nations in southern Africa due to its coastal location and presence of gold, diamonds and natural resources (Briney, 2012). However, climate change is prominent in South Africa and this impacts sourcing and transportation of agricultural products for retailers. One way to handle this is through adaptation by sourcing through several suppliers in vulnerable categories. Despite its coastal location, water is scarce and water security is a fundamental challenge faced by retailers. This requires the retailers to actively engage with suppliers for

Is increasing knowledge making life more worrying and uncertain in Essay

Is increasing knowledge making life more worrying and uncertain in contemporary society - Essay Example While knowledge has always existed, in the traditional society it was established knowledge. Knowledge society on the other hand refers to the change in knowledge in different fields like political, economical, social and cultural life. Knowledge is essential for every activity in life be it in the form of sophisticated academic knowledge in the form of text books like medical science to common sense like how to look after ourselves and our children. The speed at which knowledge is produced and disseminated across the globe has been the root cause of the change taking place in the society. Knowledge in the contemporary society takes different forms and it is created and disseminated through multiple sites. To conduct their daily lives, people seek knowledge on health, jobs and relationships. There are numerous advisers and counselors available apart from the myriad of information available on the internet. Experts are known by different high-sounding names like therapists and planners. Even in spiritualism and healthcare there is virtually knowledge explosion. In the field of technology, enormous changes in people’s lives can be seen. The personal computer externally looks the same and is made of the same metals that it was same say 5 years ago but is much more powerful. The input of human intelligence added to it ahs rendered it powerful. Technology is used to reduce costs in manufacturing sector, in marketing and distribution. Technology has led foreign firms to outsource their back-office operations to distant lands like India. Local firms now have global networks. Communication technologies have rendered distant and size of corporations insignificant. Economic changes have brought about changes in consumption pattern, increased purchasing power in the hands of the people and the markets have become consumer-driven. Despite all these changes and advancements, knowledge society has created a risk society which is associated with the growth of the

High altitude Essay Example | Topics and Well Written Essays - 1000 words

High altitude - Essay Example The results, as illustrated in figure 1 and 2, showed that there are changes in the cardiovascular system after exercise. There is increased value in both the systolic and diastolic blood pressure and heart rate. The result regarding the blood pressure is consistent with other researches (Kelley & Kelley, 2000) which indicated that there is a progressive increase both the systolic and diastolic pressure. The result regarding heart rate is also consistent with several studies (Arroll & Beaglehole, 1992) which indicated that there should be an increase in the heart rate after exercise. These changes in the cardiovascular system can be associated with the increase in the release of adrenaline after exercise which can cause an increase in the heart rate and blood pressure (Van Hoof et al, 1989). Figure 1. Systolic and diastolic blood pressure at rest and after exercise. (x-axis: subject; y-axis: blood pressure) Figure 2. Heart rate measured in beats per minute at rest and after exercise (x-axis: subject; y-axis: bpm) Also, results showed that there are major changes in the respiratory system after exercise. One observation is that there is an increased value in the respiratory rate (Figure 3). This is consistent with other studies which also showed an increase in the respiratory rate (Posner et al, 1992). ... The decrease in the gas volume can be attributed to the fact that the muscle of for breathing do not work maximally. It is because during exercise, the priority for the supply of oxygen is given to the muscles at work (gastrocnemius, bicep femoris etc). And lastly, regarding the gas composition, it was observed that there is an increase in CO2 while a decrease in O2 after exercise (Figure 5). The increase in CO2 and decrease in O2 is obvious because after exercise because there is a lot of work done. This work utilized more O2 and produces more CO2 through aerobic metabolism (Posner et al, 1992). Figure 3. Respiratory rate measured in breaths per minute at rest and after exercise (x-axis: subject; y-axis: number of breaths per minute) Figure 4. Gas volume measured in liters per minute at rest and after exercise (x-axis: subject; y-axis: liters of gas per minute) Figure 5. Gas composition of O2 and CO2 at rest and after exercise (x-axis: subject; y-axis: percent composition of gas) Al though not observed in the results, there are also some changes in the nervous system after exercise. Physical activity can actually improve cognitive function (Hertzog et al, 2008). Moreover, exercise can also promote protection against neurodegenerative diseases like dementia (Clement et al, 2005). And lastly, exercise can also enhance the release of nerve growth factors, which help the process of neurogenesis (McAuley, 2004). In the report, it is also stated that the students from the football team will go to La Paz, Bolivia for a series of matches during the break. It should be considered that La Paz, Bolivia is located in a high altitude and this might imply some changes in the physiological activity of the body which should be anticipated. It should be noted

Lorem Ipsum Paper Coursework Example | Topics and Well Written Essays - 1250 words

Lorem Ipsum Paper - Coursework Example Nulla ac arcu non augue congue pulvinar. Sed ut libero lacus, vel varius nisl. Phasellus sit amet tempus nunc. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Mauris eu magna ipsum, quis vehicula ante. Nam blandit blandit arcu ut faucibus. Donec erat velit, vehicula vel fringilla at, pretium nec dui. Aenean velit mauris, fermentum vitae sagittis eu, elementum eu nisl. Pellentesque nisi velit, cursus non sollicitudin ut, euismod eu odio. Fusce ultrices lorem vel nibh volutpat ac pulvinar sem pretium. Aliquam scelerisque aliquet ipsum, vitae luctus turpis rutrum vel. Proin eu lectus velit, vitae aliquam elit. Etiam in massa quam. â€Å"The name ’Bluetooth’ reflects the Scandinavian origins of the technology1. It is named after a 10th century Danish viking, King Harald Blatand (translating as 'Bluetooth' in English). He united and controlled Denmark and Norway, hence the association of uniting devices through Bluetooth. Legend has i t that he liked eating blueberries - so much that his teeth became stained with the colour of the fruit, giving rise to his name!† (Stucken, 2010) Sed euismod, ipsum pretium congue fermentum, nibh est blandit lacus, a venenatis magna mi eget nibh. Mauris accumsan, dui vitae aliquet dapibus, enim dui vestibulum velit, vel rhoncus metus urna sed neque. Quisque rhoncus lorem at felis blandit vestibulum interdum erat pellentesque. Donec eget felis nisi, et feugiat turpis. Sed vitae velit sed augue lobortis consequat. Mauris at euismod dolor. Etiam condimentum ullamcorper faucibus. Vivamus viverra, metus sit amet porta pharetra, augue diam molestie erat, in euismod turpis lacus non enim. Mauris eget sapien orci. Praesent sit amet nibh dui. Phasellus non dignissim lectus. Fusce faucibus erat et mi varius rhoncus. Equation 1: Population mean 1 Lorem ipsum dolor sit amet, consectetur adipiscing elit. Morbi scelerisque, turpis sit amet rutrum porttitor, dui elit pulvinar augue, quis ve hicula eros massa non augue. Duis ac tellus at nulla consectetur viverra. Fusce vehicula mauris eget dolor molestie tincidunt. Duis sollicitudin sem vel dui malesuada facilisis. Suspendisse convallis auctor risus, eget mattis ipsum eleifend sit amet. Maecenas dictum dui at metus suscipit scelerisque. Donec sed est eu neque dictum gravida sed vitae tellus. Maecenas vitae nisl eget justo ultrices ornare. Vivamus lectus elit, ultrices in cursus in, malesuada ac tellus. Ut vel fermentum sem. Maecenas ullamcorper odio vitae justo consectetur tristique. The technology, named after a 1000 year old king of Denmark, is one of its kinds (Mitchell, 2012). Curabitur blandit, nunc eu ornare pulvinar, eros urna auctor nisl, nec ornare dui ipsum id tellus. Morbi lobortis congue diam at imperdiet. Phasellus tempus tincidunt justo id feugiat. Proin sit amet nisi lacus, vel facilisis turpis. In molestie sagittis ullamcorper. Donec at dui erat. Donec luctus interdum malesuada. Ut tincidunt sollicitudi n massa quis suscipit. Suspendisse quis augue eget mi aliquet ornare at vitae est. Mauris lobortis turpis pharetra metus commodo sed viverra neque facilisis. Curabitur lobortis dolor dui, sed semper nisl. Pellentesque condimentum quam et erat imperdiet ultricies blandit est rutrum. Ut pulvinar augue in velit pellentesque ornare at quis ligula. Curabitur vitae molestie lacus. Nunc interdum orci nec nulla tincidunt consectetur. Vivamus scelerisque accumsan quam, et suscipit mauris rutrum id. Proin malesuada, lacus nec

Tort of Law Essay Example | Topics and Well Written Essays - 2500 words

Tort of Law - Essay Example c injury to liability will also turn on questions relative to the duty of care and the extent to which that duty can be extended to Peggy and her injury was reasonably foreseeable.4 Ian’s possible defence turns on whether or not he can legitimately claim contributory negligence or non volenti fit injuria on the part of the victim: Ben.5 To begin with, a duty of care exists in cases where injury of the kind suffered is reasonably foreseeable, there is proximity between the parties, and the imposition of a duty of care is fair.6 In determining whether or not a duty of care exists it is also necessary to ascertain if the defendant assumed the duty of care and if the plaintiff could have reasonably relied on the fact that the defendant assumed the duty of care.7 In assessing the duty of care in potential claims against WTW and Marcus it is necessary to examine the duty of care in respect of claims for pure economic loss: monetary award where no physical damages are claimed.8 In Hedley Bryne v Heller, it was established that liability for pure economic loss in cases of negligent misstatement arise where the plaintiff is relying on the advice or information of the defendant based upon trust that the defendant will exercise a degree of care and knew or ought to have known that the plaintiff was relying on that information and/or advice.9 In addition, the defendant is required to have represented that he had the unique skills and knowledge with respect to the advice and/or information requested by the plaintiff.10 Based on the facts of the case for discussion there is no doubt that WTC held itself out has having a specific skill and knowledge: investment expertise. Through its agent, WTC as an investment business held itself out as having special investment skills that it ought to know Ian relied on in seeking its services with respect to investing his profits. Based on the special skill and expertise that WTC held itself out to have, the company ought to have known

Lorem Ipsum Paper Coursework Example | Topics and Well Written Essays - 1250 words

Lorem Ipsum Paper - Coursework Example Nulla ac arcu non augue congue pulvinar. Sed ut libero lacus, vel varius nisl. Phasellus sit amet tempus nunc. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Mauris eu magna ipsum, quis vehicula ante. Nam blandit blandit arcu ut faucibus. Donec erat velit, vehicula vel fringilla at, pretium nec dui. Aenean velit mauris, fermentum vitae sagittis eu, elementum eu nisl. Pellentesque nisi velit, cursus non sollicitudin ut, euismod eu odio. Fusce ultrices lorem vel nibh volutpat ac pulvinar sem pretium. Aliquam scelerisque aliquet ipsum, vitae luctus turpis rutrum vel. Proin eu lectus velit, vitae aliquam elit. Etiam in massa quam. â€Å"The name ’Bluetooth’ reflects the Scandinavian origins of the technology1. It is named after a 10th century Danish viking, King Harald Blatand (translating as 'Bluetooth' in English). He united and controlled Denmark and Norway, hence the association of uniting devices through Bluetooth. Legend has i t that he liked eating blueberries - so much that his teeth became stained with the colour of the fruit, giving rise to his name!† (Stucken, 2010) Sed euismod, ipsum pretium congue fermentum, nibh est blandit lacus, a venenatis magna mi eget nibh. Mauris accumsan, dui vitae aliquet dapibus, enim dui vestibulum velit, vel rhoncus metus urna sed neque. Quisque rhoncus lorem at felis blandit vestibulum interdum erat pellentesque. Donec eget felis nisi, et feugiat turpis. Sed vitae velit sed augue lobortis consequat. Mauris at euismod dolor. Etiam condimentum ullamcorper faucibus. Vivamus viverra, metus sit amet porta pharetra, augue diam molestie erat, in euismod turpis lacus non enim. Mauris eget sapien orci. Praesent sit amet nibh dui. Phasellus non dignissim lectus. Fusce faucibus erat et mi varius rhoncus. Equation 1: Population mean 1 Lorem ipsum dolor sit amet, consectetur adipiscing elit. Morbi scelerisque, turpis sit amet rutrum porttitor, dui elit pulvinar augue, quis ve hicula eros massa non augue. Duis ac tellus at nulla consectetur viverra. Fusce vehicula mauris eget dolor molestie tincidunt. Duis sollicitudin sem vel dui malesuada facilisis. Suspendisse convallis auctor risus, eget mattis ipsum eleifend sit amet. Maecenas dictum dui at metus suscipit scelerisque. Donec sed est eu neque dictum gravida sed vitae tellus. Maecenas vitae nisl eget justo ultrices ornare. Vivamus lectus elit, ultrices in cursus in, malesuada ac tellus. Ut vel fermentum sem. Maecenas ullamcorper odio vitae justo consectetur tristique. The technology, named after a 1000 year old king of Denmark, is one of its kinds (Mitchell, 2012). Curabitur blandit, nunc eu ornare pulvinar, eros urna auctor nisl, nec ornare dui ipsum id tellus. Morbi lobortis congue diam at imperdiet. Phasellus tempus tincidunt justo id feugiat. Proin sit amet nisi lacus, vel facilisis turpis. In molestie sagittis ullamcorper. Donec at dui erat. Donec luctus interdum malesuada. Ut tincidunt sollicitudi n massa quis suscipit. Suspendisse quis augue eget mi aliquet ornare at vitae est. Mauris lobortis turpis pharetra metus commodo sed viverra neque facilisis. Curabitur lobortis dolor dui, sed semper nisl. Pellentesque condimentum quam et erat imperdiet ultricies blandit est rutrum. Ut pulvinar augue in velit pellentesque ornare at quis ligula. Curabitur vitae molestie lacus. Nunc interdum orci nec nulla tincidunt consectetur. Vivamus scelerisque accumsan quam, et suscipit mauris rutrum id. Proin malesuada, lacus nec

West side story movies script analysis,comprising it with novel Essay

West side story movies script analysis,comprising it with novel - Essay Example In addition, the movie earned 9 other Oscars for best supporting actors (male and female), best director, best cinematography, best art direction, best sound, best musical score, best editing, best costumes as well as a special award for best choreography (3). The film has received further accolades such as New York Film Critics Award for best picture, Grammy Award for best sound tract, Writers’ Guild Award of America for best written musical, New York Film Critics Circle Award for best film and the Golden Globe Award for best motion picture (3). Thus, the film can be seen as a highly successful venture in terms of its appeal to the common masses as well as the strong impression it has left on both critics and evaluators of the art of cinema. The stage production of West Side Story has been premiered in Broadway during 1957, just four years before it has been adapted for the movie production in Hollywood in 1961. It is needless to mention that both forms of art differ drastically in many ways in their conventions as visual and performing arts. The most significant of such changes primarily reflect in the music composition of Bernstein, who has accurately considered different specific aspects to cater to movie format. The movie’s theme primarily encompasses the issues of immigration and gang conflicts in the US, which have been major social problems for the country for a long time. The movie has also been able to align Bernstein’s music and Robbins’ choreography so seamlessly into the plot as to enhance its intrigue and appeal rather than to distract from it. Another major consideration for the stage show has been orchestration of music scores for obvious reasons. It is needless to mention that stage shows limit the scope for using a wide range of instruments and often cannot permit on the spot corrections. On the other hand, movies

Global village Essay Example for Free

Global village Essay America was a time of challenging authority and established conventions. It was into this era that a Professor of Media studies at Toronto University rose to media personality status. Marshall Mcluhan is famous for introducing society to catchy aphorisms such as â€Å"the medium is the message†. Although his theories have always been contested, they were popular at the time and are currently enjoying a revival. One such theory is his vision of the â€Å"Global Village† which I will discuss in this essay. To understand the term, a comprehension of some of his other ideas is necessary. Mcluhan was influenced by Harold Adams Innis who suggested that each medium of communication had a time â€Å"bias† which affected the stability of society. In short, he saw that â€Å"time biased† media such as stone carving would endure time and lead to a stable society. â€Å"Space biased† media, such as papyrus, could easily be revised and lead to an unstable culture (Meyrowitz 1985:17). Mcluhan went beyond this to suggest that different media have â€Å"sensory bias† (Postman went beyond this to argue that the medium contains an â€Å"ideological bias†). Mcluhan saw each new media invention as an extension of some human faculty. In The Medium is the Massage he notes, â€Å"All new media are extensions of some human faculty† (Mcluhan and Fiore 1967:26). The book illustrates some examples; the wheel of the foot, the book of the eye, clothing of the skin and electronic circuitry of the central nervous system. In terms of the â€Å"global village† the last extension is the most important. He saw us as breaking our ties with a local society and, through our new electronic extensions, connecting globally to a new world of total involvement. â€Å"We now live in a Global Village†¦a simultaneous happening† (Mcluhan Fiore 1967:63). He refers to the village as a global community, existing with a level of connection associated with small rural settlings. We can see evidence for this in terms of what is sometimes termed an â€Å"always on† culture. News travels instantaneously across the globe, 1 in 6 people own a mobile phone (Guardian 2002) and the Internet smashes old barriers of communication. However, the Internet was in its infancy when Mcluhan used the term, which was first used in response to radio. There is some debate over the origin of the term â€Å"global village†. Eric Mcluhan writes that James Joyce reffered to a similar phrase, as did Wyndham Lewis. His opinion is that his father was probably already developing the concept and found it referenced in Lewis’ work afterwards. Mcluhan’s view of the â€Å"Global Village† was positive. He saw it championing greater social involvement and wrote, â€Å"In an electronic information environment, minority groups can no longer be ignored† This is a technological determinist attitude as it holds the medium as the single key to their involvement. Mcluhan also notes, â€Å"there is absolutely no inevitability as long as there is a willingness to contemplate what is happening† (Mcluhan and Fiore 1967:25). This is rather at odds with some of Mcluhan’s other material. He often makes poetically powerful statements about our helplessness in the face of technology (â€Å"All media work us over completely† (Mcluhan Fiore 1967:26)). Digital TV offers increasing interactivity with Internet functions such as e-mail and online banking available next to greater entertainment choices. It is being put to an alternative use in sheltered housing by allowing residents in difficulty to contact the manager; an example of how new technology is including minority groups. However, with the advent of digital TV the Government has come under pressure to sell the broadcasting spectrum that analogue occupies and is planning to do so before 2010. The effects of this look set to create a greater divide than the one it healed. 50% of homes currently have digital TV but a third of homes are unable to receive digital TV at all. A report by the Department of Trade and Industry found that 6% of the population are likely to object to the switch-off based on the cost of upgrading and the belief that we watch too much TV (The Observer, 2004). If the analogue signal were to be switched off, those who couldn’t (or wouldn’t) receive digital TV would have no access to TV. The gap between rich and poor would accelerate and a greater social divide would exist. Technological Determinists refer to a â€Å"technological revolution† and since the invention of this term there has been concern for those left outside. The issue is more complex than Mcluhan presents it and subject to factors beyond that of just the medium. In Mcluhan’s time the Internet was far from the widespread facility it is today. He died in 1980, but only 5 years later the system to which the phrase â€Å"online community† is most pertinent was operational. Internet forums allow a number of people across the globe to converse in real time. The Internet seems to provide the most convincing argument for the â€Å"global village†. With broadband most actions are instant, allowing the user to converse, transfer money, view information and order products regardless of geography. Mcluhan’s idea of electronic circuitry extending the nervous system is easier to comprehend when you consider someone sitting down at a computer. The physical action of typing becomes the cause, but the effect is realised in an electronic global network. Meyrowitz notes how â€Å"At one time, parents had the ability to discipline a child by sending the child to his or her room-a form of ex-communication from social interaction† (Meyrowitz 1985:Preface). This is no longer the case. The Internet offers the possibility of extending our central nervous system across the globe. It is intrinsic in today’s society and much has been written over its social effects. Wellman and Gulia remark, â€Å"those on either side of this debate assert that the Internet will create either wonderful new forms of community or will destroy communication altogether† (Wellman: â€Å"The Networked Community†). The reality is unlikely to be as clear as this (although Mcluhan’s â€Å"global village† would suggest that it is). Meyrowitz has argued that new media blur the boundaries between public and private behaviour (Meyrowitz 1985:93-114). The same headline in a newspaper and read by a newsreader are two different messages. Print media does not invite the same depth of character analysis that TV does. The public broadcast begins to merge a private situation and invites a personal reading of the presenter. The personal homepage is an explicit example of the blurring between public and private boundaries. People from all walks of life are making available to the connected world their presentation of themselves. Cheung notes how it can be emancipatory as it allows you to rehearse your presentation (Cheung 2000). Unlike face-to-face communication you can refine your presentation until you are content. Mcluhan envisaged the â€Å"global village† as creating a greater level of social involvement and to some extent we can see this happening with the personal homepage. Individuals are reaching out to a global mass audience to say, â€Å"this is me†. Grosswiler notes that Mcluhan â€Å"would have agreed with the idea that electronic media increase the desire for closeness and intimacy in the Global Village† (Grosswiler 1998:118). However there is a problem in defining what we mean by â€Å"closeness and intimacy†. A personal webpage is more personal than the BBC homepage but not as personal as face-to-face communication. Mcluhan would argue that the â€Å"closeness and intimacy† on the personal webpage is the only type that exists as we live in the â€Å"global village†. For Mcluhan there was no other village and intimacy could be with anyone, anywhere. There is a tendency by those who consider the Internet in a technologically determinist way to view it in isolation. The Internet is for most people not the totality of their social interaction, although it is becoming increasing possible to live your life without human contact. It is possible to order almost everything you could need using the Internet, yet town centres still exist. I may talk to friends online but the majority of communication with them will be face-to-face. Mcluhan is often accused of exaggerating his conclusions and this is evident. While the personal webpage is popular it doesn’t provide a substantial system of interaction. It also clear that while a minority of people make friends online, face-to-face interactions comprise the majority. Mcluhan’s famous aphorism â€Å"the medium is the message,† represents the belief that the medium itself has social impact of which the masses are usually considered to be unaware. If the power of the media is so great, how is it that determinists such as Mcluhan can stand outside of it to comment? Furthermore Mcluhan thought that as soon as we are aware of something as environment, a greater process must be in effect (Mcluhan, Eric). However, Mcluhan was considered knowledgeable enough to sit on a board set up to examine â€Å"the totality of communications problems in modern society† (McBride cited in Briggs and Burke 2002:258-260). The outcome of this report would have made interesting reading but unfortunately political conditions halted proceedings. Maybe I would be discussing a different concept if the report had gone ahead. Mcluhan once remarked that the one thing a fish is not aware of is water. The water determines everything the fish does yet the fish is blissfully unaware. The point is that we are the fish and technology our water. However this doesn’t prove the argument, it simply explains it. At first glance the phrase appears clever yet contains no empirical evidence and is typical of Mcluhan’s inventive and persuasive useful of language. Mcluhan’s global village is perceived as optimistic. Yet a Marxist interpretation offered by Ang notes that â€Å"the making of the â€Å"global village† can be rewritten as the transformation, or domestication, of the non-Western Other in the name of capitalist modernity† (Ang 1996:150-180 cited in Grosswiler 1998:142). While the idea of the spread of communication remains constant, it is seen to destroy individual non-western cultures to make way for capitalist exploitation. The sociologist Tom Nairn argues that while Mcluhan’s â€Å"global village† could be reality, it is prevented from being so by the social forms of capitalism† (Nairn 1968:150 cited in Grosswiler 1998:34). He is not denying that it is achievable, but notes, â€Å"The potential of electric media is, in fact, in contradiction with a great deal of the actual social world†. He accuses Mcluhan of creating myths and ignoring the contradictions of his theory. The graphic below compare the distribution of Internet routers and the global population. (Soon-Hyung Yook, Hawoong Jeong, and Albert-Laszlo Barabasi at http://www. cybergeography. org/atlas/geographic. html) It is obvious from the map that the majority of the world is not connected. According to this the â€Å"global village† is made up of a minority of the worlds population. This is a model far from creating greater social involvement and has the potential to create a global divide between the connected and the unconnected. In my introduction I cited a statistic claiming that 1 in 6 people own a mobile phone in support of the â€Å"global village† concept. As with Mcluhan’s aphorisms this initially seems persuasive but closer inspection reveals the truth. The statistic suggests proportionality. As Briggs and Burke explain, â€Å"While there were 600 million telephones in the world in 1982, half the world’s population lived in countries which together had fewer than ten million†. Again this undermines the â€Å"global village† vision and adds empirical weight to Nairn’s criticism that the potential of the media is in contradiction with reality. As with the Internet, the â€Å"global village† is presented here as almost exclusively existing between developed western countries. Mcluhan’s vision dictated that minorities couldn’t fail to be incorporated, yet they have been excluded by virtue of being unconnected. Furthermore the Marxist view upholds that where third-world nations are included, it is only as means of stripping them of identity for capitalist ends. These points considered, it seems that Mcluhan’s vision is not a reality. Much of the world is unconnected and I need cite no evidence that it has not led to world peace. However, it should be noted that Africa is currently leading the way in the realms of mobile phone ownership. It has become the first continent in which the number of mobile phone users exceeds that of landline subscribers. A report â€Å"has estimated that there will be 60 million people using mobile phones by the end of the year more than double the 27 million who have a landline† and mobile phone ownership is growing at an annual rate of 65%, double the global average (Guardian, May 2004). It seems that we may be fast heading toward a â€Å"global village†. However even with Africa’s growth in mobile phone ownership, this still only brings the total to 6% of the population (Guardian, May 2004) and Internet access is considerably lower. While it may be true that a virtual village has been created, it is far from the all-inclusive global vision that Mcluhan prophesised.

An Analysis Of the Financial Situation of TESCO PLC

An Analysis Of the Financial Situation of TESCO PLC Introduction: Reason for selection of this topic The selection of topic is based on my reading about Tesco rapidly growing articles and its strategy for growth topic is based on four vital playing parts: Growth in the UK To expand by growing internationally To be as strong in non-food as in food To follow customers into new retailing services From the list of suggested topics an analysis of the financial situation of an organization seems to be attractive and interesting topic. The making of this report help me in different ways like improvement in analytical skills and time management. Company Profile Jack Cohen established Tesco in 1919, when he began to sell surplus groceries from a stall in the East End of London. In 1924, the first own-brand product sold by Jack was Tesco Tea. In 1932, Tesco became a private limited company. In 1983, Tesco stores (Holding) Ltd became PLC. Tesco became Britains biggest independent petrol retailer in 1995 Tesco became the number one in this country with 17% of the market share in 1995. Tesco is one of the largest food retailers in the world, operating around 2,700 stores. The group operates through multiple store formats, including Extra, Superstore, Metro, Express and hypermarkets. Tesco operations UK (1,900 stores) European countries Asia Tesco Products Electrical goods Home entertainment Clothing Phones Broadband Health Beauty Stationery Kitchen utensils Soft furnishings Seasonal goods level of products Value Finest Branded Tesco and Retail industry profile Grocery market is one of the most evolving markets. Tesco is the third largest supermarket in retail industry world. Competition is directly with the small and independent chains and with other big names of retail industry. Todays consumer is changing their shopping patterns with the changes in marketing strategies by the grocery market. Tescos is innovative in its marketing strategy and maintain its impressive figure of market share by huge spending on marketing and fulfilling the wants and needs of customer. (RETAIL INDUSTRY REPORT 2007) It is 60 years since Tesco was first listed on the London Stock Exchange, as Tesco Stores (Holdings) Ltd, with a share price of 25 pence. It was only ten years ago that it laid out a new strategy for growth, a strategy which looked to find new customers, new markets, new products and new opportunities,thriving international business and assessing markets with over two billion people. Source:http://www.tescocorporate.com/annualreview07/01_tescostory/tescostory.html Tescos market share has surpassed 30% for the first time in 2005, providing further ammunition for consumer groups who want its dominance curbed. Source:http://www.thisismoney.co.uk/news/article.html?in_article_id=401840in_page_ id=2 Aims Objectives of the Report Analysis of recent performance of Tesco Analysis for the benefit of all stakeholders and shareholders Future performance prediction Methods of analysis Method to analysis the performance of Tesco is based on the competition with Sainsbury (leading British retailer). The main reason is to understand the concern of shareholders about their dividend income and growth of capital. Therefore the report is mainly focused on the following aspects: SWOT anaalysis SWOT analysis of Tesco is about the internal and external factors, which helps me to understand the current position of company. Profitability Comparison of the profit with their rivals Liquidity This is the most concerned factor for the investor to know about. Usually companies are not forced into liquidation for not making profit,but when they cannot pay their debts off. Growth Expectations of shareholders in highly competition Financing Financing should be accurate and appropriate towards their objectives. Investment Analysis on investment towards future profitability Shareholders return Analysis on how effective the group is returning shares of shareholders. The few key factors Gearing ratio Gearing is a measure of financial leverage, demonstrating the degree to which a firms activities are funded by owners funds versus creditors funds and is the key indicator of the share prices. ROCE (return on capital employed) To examine the total long-term funds invested in the group to earn the return. EPS (Earning Per Share) Earning per share (EPS) is widely used by both present and future investors to gauge the profitability of a company. Gross profit margin Compares a companys performance with its competitors in terms of profit margin. Limitations of Analysis Ratios are static and it does not reflect the future trends normally. Ratios are based on information in different articles and websites. It ignores the affect of inflation. Financial statements themselves have limitations IAS 16 also allows a choice between measuring non current assets at cost less amounts written off, or at revalued amount (FTC Foulks Lynch Paper 2.5, 2004). On the other hand IAS 17 leaves somewhat vague the distinction between finance leases and operating leases. By classifying a lease as an operating lease, it is possible for a lessee to keep leased assets and their corresponding liabilities off the balance sheet (FTC Foulks Lynch Paper 2.5, 2004). The earning power of a business may well be affected by factors, which are not reflected in the financial statements. Executive Summary Tesco has shown improving results during the recent years and an excellent result this year as well compared to previous performance of the company. Tesco Groups result for the year 2006/07 is as follows Turnover à ¢- ²10.9% Operating profit à ¢- ²17.7% Profit before taxationà ¢- ²20.3% Group underlying profità ¢- ²13.2 % Group trading profità ¢- ²11.1 % Underlying diluted earning per share increased by 11.6% on comparable basis, to 22.36p (last year-20.04). Final dividend has been proposed 6.83p per share (last year-6.10). This represents an increase of12%. Gearing level remained at 48% as last years. Cash outflow is 265m compared to last year Cash inflow 165m last years. Above results represent the story of progress of the group, which reflects the consumer satisfaction, shareholders and stakeholders confidence in Tesco. Tesco generates their profits faster than revenue and the improvement in production. Information gathering Primary research Primary information is data, which is, collected specifically by or for the user, at source for example the management accounts of a company (BPP Success in your Research Analysis Project 2005). Most of my work is based on secondary sources. Secondary research Most of my research is based on secondary type of research. Academic Reading the textbook provided the initial outline, approach, research suggestions and structuring for the project. Subscription publications such as Accounting and Business Conventional library research Going to the British and Corydon Library enabled me to gain access to the academic publications on research methods for business, as well as industry-specialist publications. Electronic research Financial Journals and Tesco website, which enabled me to obtain last three years annual and interim reports, and company presentations to analysts, investors and portfolio. ACCA website (http://www.accaglobal.com/) provided an easy-to- search database of articles Using Internet search engines (Goggle, Yahoo Finance) enabled me to collect a lot of information about Tesco and its competitors. Other Methods to Collect Information Specialist Accountancy Publications (Accountancy Age) Annual Accounts of Company Telephone calls, Email Analysts reports Newspaper articles Discussions with superiors Analysis and Presentation (Note: All the figures used below are taken from Tesco and Sainsburys annual accounts, except where mentioned) Strategic Analysis Cost Leadership Cost leadership is a generic strategic thrust that emphasizes providing products and services at the lowest per unit cost within an entire market. Porter notes (1980) Cost leadership requires aggressive construction of efficient-scale facilities, vigorous pursuit of cost reductions from experience, tight cost and overhead control, avoidance of marginal customer accounts, and cost minimization in areas like RD, service, sales force, advertising, and so on (p. 35). from Porter, M. Competitive Strategy: Techniques for Analyzing Industries and Competitors, New York: The Free Press, 1980. Michael Porter suggested four generic business strategies that could be adopted in order to gain competitive advantage. The four strategies relate to the extent to which the scope of businesses activities are narrowing versus broad and the extent to which a business seeks to differentiate its products. The four strategies are summarized in the figure below: This strategy is usually associated with large-scale businesses like Tesco offering standard products with relatively little differentiation that are perfectly acceptable to the majority of customers. Occasionally, a low-cost leader will also discount its product to maximize sales, particularly if it has a significant cost advantage over the competition and, in doing so, it can further increase its market share. Source: http://tutor2u.net/business/strategy/competitive_advantage.htm SWOT Analysis STRENGTH Leading British Market Customer research and its careful positioning Economy of scale WEAKNESSES Limitations in opening new outlets in UK OPPORTUNITIES Growth in Non-Food retails Investment in international market THREATS Threats from rival Competition in overseas market Extension in business makes it difficult to manage Reputation risk STRENGTHS Britains Market Leader Tesco is the market leader of retail industry in UK and holds 31.5%share of whole market as compared to its competitors ASDA Sainsburys who hold 16.7% and 16.0%. Source: http://scotlandonsunday.scotsman.com/business.cfm?id=68862007 Customer Research and its carefulpositioning Tescos ability to empathies with its customers is the result of in-depth research, and has been key to its resoundingly successful entries into so many new markets. Their market research doesnt stop at new customers, but covers existing customers buying habits too. Tesco has expanded its customer base by its increased efforts to embrace customers from all levels of society, and all income brackets. For example, two popular food product ranges the luxury range called Tesco Finest and the budget version, Tesco Value are both carried within all of its stores. Source:http://www.growthbusiness.co.uk/expansion/259636/what-tesco-can-teach-us.thtml Economy Of SCALE Tescos has massive buyer power over suppliers; these economies of scale allow Tescos to compete fiercely on price without imperiling its own margins in a mature industry in which aggregate revenue growth is unspectacular. WEAKNESSES LIMITATIONS IN OPENING NEWOUTLETS The massive volume of sites under development and owned by the supermarket groups, and particularly by Tescos, is a central plank in a new Competition Commission investigation into the grocery sector. The Commission is considering to review the rules that govern store openings. Under current guidelines, a retailer keen to open in a particular town must simply prove that the location needs a new supermarket. The national market share of that supermarket chain is not taken into account. The Commission will also take a close look at the controversial issue of land banking retailers supposed practice of buying vast tracts of land merely to thwart rivals from opening on them. Source: http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/04/30/cctesco30.xml OPPORTUNITIES Growth in non-food sector According to Retail research company Verdict, in 2007, for every  £10 spends on non-food shopping,  £1 will be spent at the supermarkets. And Tesco is set to become the UKs number one non food retailer, with Verdict predicting it will capture 3.6 percent of the non-food shopping market this year, overtaking the current number one GUS (owner of Argos and Homebase) which currently has 3.5 percent market share. Source: http://www.clickajob.co.uk/news/tesco-to-become-uk-s-largest-non-food-retailer3675.html Tesco stores sell some non-food, it is Tescos Superstore and Extra formats that offer the biggest choice. These offer electrical, home entertainment, clothing, health and beauty, stationery, cook shop and soft furnishings, plus seasonal goods such as barbecues and garden furniture in the summer. The company has launched a highly successful range of own brand goods from microwaves to garden furniture. Source: http://www.999today.com/homeandgarden/news/story/1804.html Investment in International Market International growth forms a key element of Tescos four-part strategy and the business currently trades in 12 countries outside the UK, mainly in Asia and Central Europe. Over half of Tescos selling space is now outside the UK. Source:http://www.tescocorporate.com/page.aspx?pointerid=14163CB2412F41B1BD7765AC8DBE49EB Total international sales grew by 5.3% to  £11.0 billion. On a comparable 52-week basis, sales increased by 17.9% at actual rates. International contributed  £564 million to trading profit, up 10.8% at actual rates (up 18.0% on a comparable 52-week basis). (Annual Report) The US represents the biggest job for Tesco expansion in international world.The fact that the USA has been such an embarrassing graveyard for almost every British retailer that has opened there merely adds an extra frisson to Tescos plans. J Sainsbury, Marks Spencer and Dixons have all returned from stateside adventures with their tails between their legs. With this in mind Tesco has gone to extraordinary lengths to keep its plans secret. It has also carried out one of the most thorough pieces of market research in corporate history to ensure that its efforts are not lost in translation Source: http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/06/10/cntesco110.xml Tescos new US convenience store chain is struggling to attract shoppers. If Fresh Easy fails, it will add to the list of UK retail brands unable to break into the US and also be very dilative to international returns. Threats Threats from Rivals Tesco is facing a lot of competition from its local and international rival. It has diversed its business in different products, which increased its competitors so it requires more efforts and attention to deal with the competition and to secure its position in the market. Competition faced in overseas markets Consistently maintaining the No 1 position in the UK, Sir Terry and Tesco are looking overseas for growth. Over the last decade Sir Terry has led Tesco into Asia and Europe, opening stores in different countries. America is the major item on the table and India is expected to follow. Managing the international business takes up an increasing amount of attention and clear understanding of political, spending, religious and many other factors. Reputation risk Tesco is the largest retailer in the UK; expectations of the Group are high. Failure to protect the Groups reputation and brand could lead to a loss of trust and confidence. This could result in a decline in the customerbase and affect the ability to recruit and retain good people. (Annual Accounts) Extension in makes it difficult to manage Tescos extension itself is big challenge. The competition commission is enquiring about Tescos land bank holding and in some areas not approval for store development is one example. Tescos diversified its business in different segment which means downfall in one will have impact on other business area as well. Review of 2007 results Group Summary Group sales, including VAT, increased by 8.1% to  £46.6bn (last year  £43.1bn) and by 10.9%on a comparable 52-week basis. At constant exchange rates, sales increased by 7.9% and10.8% respectively. Group operating profit rose by 17.7% to  £2,648m. Total net Group property profits were  £139m, comprising  £98m in the UK, a  £6m loss in Asia and a  £47m profit within Joint Ventures and Associates. Return on capital employed In April last year, Tesco renewed its commitment to increasing their post-tax return on capital employed (ROCE), having exceeded their 2004 aspiration two years early. The strong performance of the business delivered slightly higher ROCE in 2006/07 at 12.6% (last year 12.5%), (Including the one-off benefit from Pensions A-Day, ROCE was 13.6%). This represents good progress and was achieved despite carrying the extra start-up costs and investment in the US and Tesco Direct as well as the integration costs and capital employed in their International acquisitions and increased stake in Hymall. This means that ROCE is on track to meet their new target. (Annual Accounts) Whereas, Sainsbury has shown magnificent improvement in their ROCE (2.76% in 2006 and 6.3% in 2007) (refer to Appendix) but still has to do a great deal of effort to challenge the market leader in terms of absolute figures. Return on capital shareholders fund The Groups total shareholder return performance (i.e. share price movements plus dividends reinvested) for the year 2006 and 2007 relative to the FTSE 100 index of companies is 143:116 for FEB 06 and 195:132 for FEB07. This index has been selected to provide an established and Broad-based comparator group of retail and non-retail companies of similar scale to Tesco, against which the Groups TSR performance can be measured. There has also been a very strong performance in TSR over the last three and five years against a comparator group of our major retail competitors in the UK, Europe and the US. Source: http://www.tescocorporate.com/annualreview07/pdf/review/annual_review_and_sfs_2007.pdf Gross Profit Margin Profit earned is the sales revenue less cost of goods sold. The relation between them is the gross profit margin, which in terms of percentage shows profit made out of sales. Gross profit margin is obtained by dividing gross profit by sales. Tesco Group sales, including VAT, increased by 8.1% to  £46.6 billion (2006  £43.1 billion) and by 10.9% on a comparable 52-week basis. At constant exchange rates, sales grew by 7.9% and 10.8% respectively. Group profit before tax increased by 18.7% to  £2,653 million (2006  £2,235 million) and by 20.3% on a comparable 52-week basis. Underlying profit before tax (excluding IAS 32 and IAS 39 and the non-cash elements of IAS 19, which are replaced by the normal cash contributions) increased to  £2,545 million, up by 11.8% (13.2% on a comparable 52-week basis Gross Profit Margin is 10.24% which increased by 4.70% compared to Sainsburys Gross Profit Margin of 10.29% which increased by 7.41%. This shows that Tesco has well control on cost cutting and productivity programme and focusing on the sales growth trying to keep the prices at lower margin. While, Sainsburys improvement demonstrates well pursue of their recover plan in which they include cost control as well. Asset Turnover Asset turnover is the relationship between sales and assets i.e. sales per nominal value of Asset. This ratios has dropped from 2.62 for 2006 to 2.58 for the year 2007 indicating slight inefficiency of asset utalisation.(Appendix B) compared to Sainsburys which improved from 2.02 to 2.50(Appendix C). Tescos figure has decreased but it still is better than Sainsburys that shows Tesco is utilizing its assets more efficiently. Gearing and Liquidity Gearing represents long-term debt in relation to shareholders funds. A gearing ratio of about one-third is usually regarded as acceptable for a company, suggesting that it is not over-reliant on external borrowing. A figure in excess of this indicates a higher-geared company. High gearing ratios are most suitable to those companies with steady and reliable profits, whose earnings are sufficient to cover interest payments and where total dividends are low. However, wide fluctuations in profitability would make a highly geared company extremely vulnerable t market conditions Source: http://vig.pearsoned.co.uk/catalog/uploads/Griffiths_C02.pdf High gearing indicates a high proportion of debt in the capital structure. High-geared companies are deemed to be financially risky, because interest payments have to be met, regardless of profitability. Tescos gearing ratio has increased slightly from 60.39 to 62.87, on the other hand Sainsburys gearing ratio decreased by 44.74%. But with a high interest cover good current and forecast profitability and low level of net debt the high gearing ratio should not present Tesco with any problems. (See Appendixes) A combination of retained profits, long and medium-term debt, capital market issues, commercial paper, bank borrowings and leases finance Tescos operations. The objective is to ensure continuity of funding. The policy is to smooth the debt maturity profile, to arrange funding ahead of requirements and to maintain sufficient undrawn committed bank facilities, and a strong credit rating so that maturing debt may be refinanced as it falls due. The Groups long-term credit rating remained stable during the year. Moodys and A+ by Standard and Poors rate Tesco Group A1. New funding of  £1.8bn was arranged during the year, including a net  £0.5bn from property joint ventures and  £1.2bn from medium-term notes (MTNs). At the year-end, net debt was  £5.0bn (last year  £4.5bn) and the average debt maturity was nine years (last year six years). (Annual Accounts 2007) Current ratio This ratio shows indicates the companys ability to meet its short-term obligations. The higher the ratio, the more liquid the company is. Current ratio is proportion between current assets and current liabilities. If the proportion between current assets and current liabilities is more than 2 then that company is generally considered to have good short-term financial strength. If current liabilities exceed current assets, then the company may have problems meeting its short-term obligations. The current ratios of Sainsburys group are better than that of Tesco group. For 2007, the ratios were .56:1 and .71:1 for Tesco and Sainsburys respectively. (See Appendix) This means there is less assurance that Current liabilities of Tesco could be paid quickly comparative to Sainsbury. But the other point of concern is that Tescos has shown an improvement by 7.69% whereas Sainsburys current ratio shows a decline of 11.25% that again indicates not very effective management and utilization of assets as compared to Tesco. Interest cover It states how many times a company can repay the interest from the current earning. The higher the cover, the safer the company is from liquidity crisis. Tesco improved its interest cover from 9.48 to 12.32(Appendix B) whereas; Sainsburys improved its interest cover from 1.47 to 4.76(Appendix C). Tescos increased profits have improved its interest cover. Tesco is a highly geared company but it delivers great return to investors so there is no threat that it would not be able to cover its interest cost. LIMITATIONS specific to the ratio analysis There are limitations to the usability and understandability of these rations and the analysis made from them. Almost all of these ratios are inter-linked and interdependent and shows fluctuations if a few variables are gauged. Also, there are more than one agreed criteria for the choice of nominators and denominators so care must be taken while considering them in absolute figures (e.g., as more than 2 Quick ratio is considered excellent) and for comparisons between two or more entities. A better asset turnover ratio might as well be because of the under valuation of assets and a decline might as well be because of acquisition of assets of increase in the market value f the assets as most of the assets held by retailers as Tesco and Sainsburys are in the real estate. Current ratio has been defined good or worse depends on industries as well, as debt is cheaper than equity Industry such as retail where Tesco has working capital days in negative (i.e. they have a chance to earn interest on the sales they have made as their suppliers finance those sales.) the more a company is geared (but within the safety margin) the better will its performance be, as the interest cover is pretty handsome. Growth and investments Tescos has been investing in new markets overseas, seeking out new opportunities for growth and ways of generating long-term returns for shareholders. Tesco is also investing in diversified nature of business like investment in software; properties and recently investment in gardening are proof of well pursuit of its diversifying strategy. Group non-food sales have grown to  £10.4bn, including  £2.9bn in International. Sales growth, in the UK alone, was11.6% in the year, with total non-food sales increasing to £7.6bn (included in reported UK sales). In non-food product which shown growth include clothing sale grew by 16%, health beauty sales increased by 9%, toys and support sale rose by 35%, stationery and DIY both sales grew up by 23%, consumer electronic sales rose by 35%. (Annual Accounts) Investors Outlook The EPS is primarily a measure of profitability and states earnings/profit earned for one share and so an increasing EPS is seen as a good sign. Tescos Basic earning per share from continuing operations has raised from 20.20p to 23.61p compared to Sainsburys Basic earning per share which has raised from 3.8p to 19.2p which is massive. (See Appendix) Tescos returns are well ahead from Sainsburys basic earning per share thats why Tescos share price gives better return to shareholder. Chart below shows the comparison between the share price of Tesco against one of its competitors namely Sainsbury and against the FTSE 100 index over two years. Tesco has performed slightly better than the FTSE 100 index over the second half of the year but Sainsburys performance is much better which has been amplified by the rumor of takeover bid of Sainsburys by Delta two and Qatar and also the role played by the successful Sainsburys recovery plan. Total shareholder return (TSR), which is measured as the percentage increase in the share price, plus the dividend paid, has increased by 36% in 2006/07, its largest value increase for ten years and the fastest percentage growth rate for three years. Over the last three years, TSR has grown 87% compared with the FTSE100 average of 58%. Over five years, the increase has been 102% compared to the increase in the average for FTSE100 companies of just 50%. (Annual Account) Conclusion Tescos latest results show that it has been another successful year for Tesco. The most encouraging thing about Tescos performance is that Tescos coped well with the head-wind from recovering competitors, rising costs and tough conditions in some markets. Tescos come through in good shape and have done it by staying focused on doing the right things for Tescos customers and at the same time investing for future growth. (Annual Accounts) Tesco chief executive Terry Leahy said, Overall sales growth has strengthened in the period, with international delivering a particularly strong performance, and the UK has again done well, with good growth in our core food categories. Its non-food offering Tesco Direct, and the groups online grocery operation tesco.com had both delivered very strong sales in the quarter, said the company. Source:http://icwales.icnetwork.co.uk/business-in-wales/business-news/2007/12/05/good-progress-for-tesco-in-autumn-sales-91466-20203900/ Tesco has laid solid foundations for future growth. Tesco is always looking to improve the way the owners of the business benefit from that growth. It has also been a good year for shareholders return. Of course, Tescos shares are higher in buoyant markets but Tescos is also doing more to contribute. Dividends are up to approaching  £800 million, driven by last years change in policy, combined with the effect of our rising flow of property profits now ranking for dividend. Tescos also bought back and cancelled almost  £470 million worth of our own shares so far. (Annual Accounts) Tescos financial performance in 2006/07 was excellent. Turnover of  £46,611m grew by 8.1%, diluted earning per share of  £23.31m grew up by 17% and dividend per share £ 9.64 increased by 11.7%, putting Tesco in top place in retail industry in the UK. (Appendix A) Tescos position holds strong position in UK and now Tesco is concentrating towards International markets for improved return for its shareholders and to establish its business and loyalty of customers around the world. Tescos produced very good performace particularly against the background of political uncertainty and economic problems in three of its markets Hungary, Thailand and South Korea. This demonstrates that International now has the size and momentum to get through these things and still deliver.Tescos got much stronger in Central Europe, through rapid growth in new space and acquisition. In Asia as well, having done the groundwork in a couple of our newer markets, weve used acquisition to get on faster.(Annual Accounts) The biggest challenge in international market is its fresh move in the US market. If Tescos get fails in US it would be a disaster for their strategic planner. According to CNN, Tescos is aiming to open 200 Fresh Easy outlets by February 2009, with projections suggesting that annual sales could hit US$4bn, But Michael J Dennis, a senior research analyst with Minneapolis investment bank Piper Jeffrey, described sales at the chain to date as a disaster. Based on interviews with suppliers, he said sales were running at about US$60,000 a week 70% down on targeted weekly revenues of