Cooper Case

Official Summary In the Case study, Cooper Industries is attempting to gain Nicholson File Company. In any case, there are two different organizations that are keen on Nicholson also: VLN Corporation and H. K. Watchman Company. In 1971, VLN along with Nicholson the board built an arrangement that, in any case, didn’t get the help from most of regular investors. Subsequent to having done a limited income examination, I confirmed that Nicholson stock is underestimated. Additionally, Nicholson is by all accounts a decent vital fit for Cooper. Thusly, Cooper could get Nicholson on well disposed footing with a generally huge premium to pull in most of the offers required. The issue for Cooper is to decide how best to get Nicholson and the sufficient cost to pay. 1. ) and 2. ) In my feeling, Mr. Cizik should make an endeavor to deal with the Nicholson File Company. Cooper Industries has been seeking after an arrangement of extension through the obtaining of different organizations and this methodology gives off an impression of being functioning admirably for them. They have procured various organizations and have been effective in coordinating them into Cooper Industries. They have set up three rules that possible organizations for procurement must meet and Nicholson meets every one of the three rules. Nicholson holds half of the piece of the pie in documents and grates, its primary items, along these lines suggesting that Cooper could be a â€Å"major factor† in this industry. Nicholson is additionally a main organization in their business sectors and it is a steady organization as far as not being subject to a couple of significant clients. Nicholson has a lot of potential for more noteworthy deals development as it is just developing deals at 2% contrasted and the business normal of 7%. Because of the qualities of its items and appropriation framework they ought to be equipped for raising development rates to the business normal. The organization is further alluring to Cooper as the two organizations deals powers could be consolidated prompting cost reserve funds. Nicholson’s European circulation framework could likewise be useful in growing Cooper’s deals in Europe. As Cooper Industries offers a greater amount of their item to industry and Nicholson to the purchaser showcase by joining the organizations they might have the option to expand deals of both product offerings to the market fragment they are more vulnerable in. With everything taken into account, Mr. Cizik should attempt to pick up control on Nicholson File organization as it is by all accounts a decent vital fit. 3. Nicholson’s firm worth determined by the methods for DCF investigation adds up to $ 39. 86 mio. In the wake of taking away net obligation, the estimation of Nicholson’s value adds up to $ 28. 86 mio. which means a value esteem for every portion of $ 49. 42 (underestimated). This ought to likewise be the greatest value that Cooper ought to bear to pay for Nicholson. 4. Cooper examined the advantages of the merger with Nicholson. Cooper assessed that the expense of merchandise sold in the wake of obtaining Nicholson could be decreased from 69% of deals to 65% significance a dollar estimation of this cooperative energy of $ 11. 7 Mio. Additionally, SG&A could be diminished from 22% of deals to 19% of deals bringing about a dollar estimation of this collaboration of $ 8. 45 Mio. These numbers depend on the joined net deals for 1972 utilizing a 7% develo pment rate in deals from past net deals (development of industry level). The contrary circulation of business movement in business and shopper showcase is probably going to bring about income development. The numerical impact of this income pulling, be that as it may, is exceptionally ambiguous as of right now. 5. The trade esteem Cooper could bear to pay out without causing any weakening as per my count is $ 37. 2 for each offer importance an Exchange Ratio of 1. 55. Hence, we could offer 1. 55 Cooper shares for each Nicholson share they need. This adds up to 133,013 of Coopers shares for 86,000 Nicholson shares. On the off chance that they needed to pay money for the rest of the stocks it would, at that point be $37. 12 * 86000 = $ 3. 19 mio. for the rest of the stocks expected to pick up control by means of 50. 1% everything being equal. Regardless of the danger of EPS weakening, Cooper may be eager to address a cost higher than $ 37. 12, if the negative momentary impact will be exceeded by positive ones in the ong-run. When all is said in done, it is pivotal to consider the impact of acquisitions on EPS as a critical, or suffering weakening of EPS will hurt the corporation’s execution essentially. 6. I do suggest an advance as capital favored financing structure. This utilization of obligation as opposed to value financing for the securing of Nicholson causes a better yield on value, just as an expansion in the effectiveness of existing capital structure. Likewise, there are charge points of interest to be acknowledged through obligation financing (charge shield). A definitive objective is boost investor worth and this can be upheld through a lower WACC coming about because of a higher influence (as impact exceeds increment of hazard). The enthusiasm on obligation is charge deductible bringing about a higher Net Income and, in this way, EPS. Nicholson the board had acknowledged a proposal from VLN Corporation utilizing convertible stock yet dismissed a money offer from H. K Porter. Nicholson may not need money for their organization. In the event that that was the situation, Cooper would need to offer combined convertible stock. 7. With a trade proportion of 2, about 78% of the new firm would be possessed by Cooper. The moderately high trade proportion would bring about an extreme decrease of control to Nicholson’s investor (22%). Under the given conditions with a trade proportion of 2, the securing premium for paid would be $ 14 for each offer. The base cooperative energies necessitated that this offer bodes well would be $ 8. 18 Mio. Given my cooperative energy valuation from task 4, this would be a reasonable accomplishment. 8. Doorman purchased Nicholson’s shares with the aim to assume control over the organization themselves. Notwithstanding, as they weren’t ready to obtain enough offers required to purchase the organization, they are currently hoping to delicate their offers. Clearly, they’d like to do this gainfully and, subsequently, their essential concerns are the cost and liquidity-level. They attempt to get the most incentive out of their stocks, so value is of essential significance in a dealing procedure with them. In any case, they need to have the option to rapidly exchange their stocks meaning an inclination for money installments. They communicated that convertible favored stock was adequate as they expect Cooper stock to be steady and effectively tradable on the NYE. The examiners/unaccounted for investors would likewise be basically worried about cost. These investors might be enticed to purchase or not to purchase dependent on what Nicholson family and its administration proposes they do. Therefore, one potential approach to arrive at these gathering of investors might be through administration. Because of this impact, the family Nicholson and its administration have a more noteworthy dealing position as inferred by their offers. They are keen on something other than the cost. The administration isn't exceptionally pulled in to a takeover, however they know they no longer have a decision. Thus, in any event, they wish to see Nicholson stay self-sufficient inside any getting organization. Nicholson’s the board and family is in all probability not ready to sell most of their offers for money; They wish to keep up a stake in the organization. Accordingly, Cooper would need to offer a stock trade. VLN, as Coopers offering contender, is probably not going to be happy to offer their offers to Cooper at a sensible cost. Ex-Post: In 1972 Cooper ventures obtained Nicolson File Company Two Cooper Industries Inc. In view of the given data for the situation study with respect to the procurement of Nicholson File Company by Cooper Industries, there is no doubt that Cooper should attempt to oversee Nicholson. This choice depends on an investigation of the bartering places of each gathering of Nicholson investors which have unique objectives and necessities that should be met. Also, a fitting installment technique and explicit dollar esteem dependent on a competitoraâ‚ ¬Ã¢â€ž ¢s offer and Cooper monetary information was chosen. The rest of this paper will give the investigation and method of reasoning to this assurance. Should Cooper Industries Acquire Nicholson File Company? Cooper Industries has been extending through enhancement since 1996. Cooperaâ‚ ¬Ã¢â€ž ¢s prerequisites to obtain an organization has three significant segments. The objective organization must be: 1. In an industry where Cooper could turn into a significant player 2. In an industry that is genuinely steady, with an expansive market for the items and a product offering of aâ‚ ¬? little ticketaâ‚ ¬Ã¢â€ž ¢ things; and 3. An innovator in its market portion. When taking a gander at the models that Cizikaâ‚ ¬Ã¢â€ž ¢s organization (Cooper Industries), put forward comparative with acquisitions, the securing of Nicholson meets each of the three targets in addition to has huge potential short and long haul potential. Cooper the board feels that by wiping out repetition and smoothing out Nicholsonaâ‚ ¬Ã¢â€ž ¢s activities this potential can be figured it out. As of now, Nicholsonaâ‚ ¬Ã¢â€ž ¢s money related history flaunts a 2% expansion in benefit yearly however this rate is route underneath the business normal of 6%. Cooper the executives suggested that if Nicholson quits offering to each market, expanded efficiencies would result and cut expense of products sold from 69% of deals to 65%. It was likewise recommended that the securing could bring down selling, general, and managerial costs from 22% of deals to 19%. Nicholsonaâ‚ ¬Ã¢â€ž ¢s position in the record and scratch advertise where it holds a half piece of the pie of a $50 million dollar showcase meets every one of the three of Cooperaâ‚ ¬Ã¢â€ž ¢s goals. Besides, Nicholsonaâ‚ ¬Ã¢â€ž ¢s brand name inside the hand saw and saw sharp edge industry is solid and Nicholson holds a 9% piece of the pie in the $200 million dollar aâ‚ ¬Ã¢â‚¬Å" their solitary significant rival was Sears and Diston who held a bigger piece of the pie. Investor Standings At the hour of the proposed merger between Nicholson File and VLN, there were an aggregate of approxi

Different Topics Writings

The accompanying sentence is a case of Engfish: â€Å"The Nixon years are maybe the most very much recollected and least overlooked according to the American individuals. † I picked this model since it was a sentence that I really composed for a history paper. In the wake of realizing what Engfish was, I was somewhat shocked to discover this kind of writing in my OWN papers! In addition to the fact that I stated that the Nixon years were the â€Å"most† very much recollected that, I proceeded to additionally clarify the way that they were likewise the â€Å"least† forgotten.Of course, it's a given that if something is the most recalled that, it is likewise the least overlooked, yet without my own voice yet found, and not comprehending what my instructor â€Å"wanted† or â€Å"was looking for†, I composed like this †to occupy space and sound more formal. Taking a gander at it now, it appears to be entertaining. I could have basically composed, à ¢â‚¬Å"no one will ever overlook the Nixon years†. Let’s not overlook â€Å"in the eyes of the American people†.First of all, individuals don’t recollect things in their eyes, and more than the American individuals will recall the Nixon years. On the off chance that I needed to confine the subject, I could have composed, â€Å"America will always remember the Nixon years. † Fabulous Reality: The fenced-in school yard reverberated of skipping b-balls, bounce rope drones, creaky swing chains and the crashing of energetic youngsters pushing and pulling vacillating. At the front of the one story building was an indication that said â€Å"Parent Teacher Conferences Oct. 27-29 and Fall Festival October 30†.On the west side of the boring block fabricating that confronted the stone and black-top play area, there were some split windows taped with conduit tape outwardly, while children’s fine art and vivid drapes enhanced the inside. The blocks of the medium measured structure were adorned with dark scrawls from shower paint jars. Adolescents †former student of the structure †expressing that they had been there, whom they adored, and what instructors they detested. In the midst of the scrawls emerged an enormous yellow smiley face, entirely round with oval eyes and an expansive dark grin. There was a ridiculous shot gap in its head.Metaphor/likeness 1: My loved one is superior to the best server at the best café. He regards my sentiments as though they were the most significant porcelain dishes, with delicate gloves, and speedy and light consideration. He waits in my neck to get my fragrance as would a wine sweetheart with a container of recently opened wine. He has an artist’s eye for my eyes, gazing at them and contemplating them to discover what lies underneath. I feel like a million bucks and he is the tycoon, keeping close tabs on me, however allowing me to develop and work into something more as he the two parades and ensures me.Metaphor/comparison 2: The child’s coos are better than the best melody at any point formed or heard. Her eyes are more delightful than the reflection off of the dark blue water when it gets the sun on its most splendid days. Her grin is as genuine as her parent’s love for her. Her cries are just impressions of need, not pity. At the point when others are around her, her bliss is spread as effectively as warm margarine on warm bread. Her magnificence is as clear similar to her reality. This little child young lady brings more warmth and delight than a Christmas day fire, yet she doesn't have any acquaintance with it.

The Four Different Spheres

The Four Different Spheres The Great Barrier Reef is the biggest reef framework on the planet, extending around 2300 kilometers. It is situated on the North East Australian coastline and because of its region faces both positive and negative associations with the climate. The reef lies in a territory named Australias Cyclone Zone, and for a huge number of years the reef has been struck by serious tropical tornados, that have brought about the changing idea of the biological system. The level of effect on the reef is dependent upon the force and degree of the tempest, however the general result of a tempest is harm for the living and non living beings like the coral. The harm happens because of the huge tempest waves that are created from solid breezes and low-pressure frameworks. The mighty waves tear separated the more delicate coral and make chips and flaws in the harder coral. In serious tornado cases the violent wind can make an entire reef biological system be covered under silt. Tropical violent winds li kewise carry with them vigorously prompted downpour cycles. The additional volume of new water implies that the saltiness of the reef biological system is then misshaped, and could influence the development of the coral, as coral reefs are exceptionally particular and need certain conditions to flourish. The turbidity of the water can likewise heighten and bring about coral dying. The climate can likewise be a productive cooperation with the Greater Barrier Reef. For instance in 2006 Cyclone Larry hit the shores of North Queensland and wrecked numerous homes and organizations of the encompassing territory. The violent wind additionally struck the reef, yet as opposed to causing destructing inside the biological system, the twister forestalled mass coral fading to happen by bringing down the temperature of the water. Lithosphere The Great Barrier Reef is helped in its working and changing by the lithosphere. The reef itself produces limestone, the exoskeleton of the perished coral polyp. This limestone is then endured down and reallocated by the 4 biophysical situations to different pieces of the reef. The limestone is then ready to make new landforms like coral cay. The limestone is additionally utilized as a protection component by coral against the rough and erosive waves. Like every living creature coral pass on and the demise of one coral could mean the introduction of new coral, as new coral will utilize the limestone structures made by the expired coral to develop on. Another lithospheric factor influencing coral working is residue. Dregs like sand can have the impact of blurring up the water of the reef bringing about expanded turbidity levels of the water. There is then less daylight entrance into the reef, influencing the procedure of photosynthesis and coral blanching is bound to happen. Dregs can likewise overpower the coral reefs through silt overflow. The residue overflow could carry with it numerous normal and compromising synthetic compounds that could hurt the working of the Great Barrier Reef. Hydrosphere The Great Barrier Reef will in general have best coral development when hydrosphere conditions are at their most prominent. For instance coral reefs will in general have ideal development when wave vitality is high. The wave vitality is broken by reef through the toward the ocean, and produces a zone of serene, secured water behind the reef. The waters of the Great Barrier Reef will in general stream a northerly way a large portion of the year, however during monsoonal, wet seasons the development of the waters changes, and there is an inversion toward the waters. This inversion takes into consideration the cooler southern sea momentum to stream into the reef. The inversion in water bearing is a key part for the biology of the reef. The waters that run from the north are warm and profoundly in saltiness, they furnish the reef with high supplement levels and are significant impacts for the assorted variety of the biological system. Biosphere The biosphere component of the Great Barrier Reef is the means by which the reef develops and gets its magnificent highlights. One creature that has been attributed for assisting with building up the reef is the polyp. Polyps are straightforward life forms that have a stomach and their calcium carbonate exoskeleton. Inside the polyp is a related alga called zooxanthallae. The two creatures furnish shared advantages with the zooxanthallae giving sugars and oxygen through the procedure of photosynthesis and the polyp thus providing supplements. Polyp regrowth happens with the utilization of the perished polyps exoskeleton. Albeit coral generation is unique, where the coral will discharge their eggs into the warm, summer water, and quickly corals discharge mass measures of sperm. The prepared eggs form into hatchlings and the hatchlings proceed with the reef-building system on the dead corals skeleton. The different scope of species inside the Great Barrier Reef additionally affects its working. For instance shellfish are incredible at executing the supplement reusing job, while the crown of thistle star fish is known for connecting itself to coral and eating it to death. Beach front Dunes Air The four circles assume an unequivocal job with regards to the structure, degree and the appearance of beach front rises. The most vital biophysical cooperation is the environment. The airs primary parts affecting waterfront hills are wind, temperature and precipitation, just as atmosphere. Wind is a significant supporter of forming hills through aeolion transport, where sand grains are gotten and shipped to another area. The measure of sand expelled from a rise is subject to the size of the sand particles, speed of the breeze, idea of vegetation spread and that's only the tip of the iceberg. For sand particles to be dislodged they should be of a specific distance across, around 0.15mm. The quicker the speed of the breeze the more probable sand grains will be moved, as there is more power behind the breeze. The sort of neighborhood vegetation and measure of vegetation on the sand rises likewise impacts aeolian vehicle, as the vegetation turns into a hindrance against the breeze for t he sand, and the more noteworthy the vegetation the less sand taken. Through the vegetation the hills can proceed to develop and build their assorted variety. Temperature assumes the job of affecting the pace of sand dryness, and kind of vegetation on the hills. Temperature esteems likewise decide the working of sea flows. As temperature expands the dryness of sand increments bringing about just scarcely any vegetation that can live on the rises, which at that point influences the pace of aeolian vehicle. Precipitation is additionally a climatic segment that impacts seaside ridges, through the degree of precipitation. The measure of vegetation on rises is subject to the degree of precipitation, with ordinary precipitation meaning a more noteworthy assortment and denser vegetation, and next to zero precipitation putting the biological system in danger, through the little vegetation to shield the sand from aeolian vehicle. Hydrosphere Hydrological forms are one of the most huge segments on earth for change to happen. The hydrological forms that affect beach front hill biological systems incorporate breeze incited waves, longshore float and precipitation. Wind-actuated waves are significant for creating seaside rises, and consolidate both the hydrosphere and lithosphere. When there are times of tranquility inside the sea, this implies sand can be moved from seaward stores to the sea shores. This offers flexibly to hills where the breezes transport the sand. Then again when there are deceptive conditions in the seas the waves become ground-breaking and collide with the coastline with such power that there ready to expel sand from sea shores and foredunes. Another hydrological procedure affecting beach front hills environments is longshore float. Longshore float is the transportation of residue by flows that are running at corresponding to the shoreline. Through longshore float residue can be created in one area of a beach front framework and afterward moved to another area. Longshore float permits ridges to be made by dregs that has been moved over a significant distance. Longshore float is very normal on the East side of Australia, with a significant number of the islands up in Queensland having been produced using dregs that originated from New South Wales. The last hydrological procedure to affect seaside hills is precipitation. The measure of precipitation has a direction on the disintegration of the sand. When there is high precipitation spillover begins to happen which thus disintegrates at the outside of the sand, the surface is then powerless against the impacts of air winds. Biosphere The biosphere impacts seaside ridges through widely varied vegetation. There are three species to vegetation, essential species, auxiliary species and tertiary species. The essential species are those that are nearest to the ocean. These regions are just colonized by specific plants that can deal with salt shower, sand impact and solid breezes. The primary job of the pioneer species like Marram Grass is to balance out any approaching sand. These types of fauna spread at a fast pace, with solid root frameworks, thus their ready to shield quite a bit of a sand ridge from its different vulnerabilities. The spearheading plants as their alluded to, are fundamental in decreasing breeze disintegration and settling the sand, prompting a superior working beach front hill biological system. The optional species is the foredune vegetation. They are generally involved bushes and little trees like the beach front wattle, and help in keeping up foredune sand mass. The tertiary species are those th at go past the seaside moorland, similar to tall trees. The vegetation in this zone is shielded from the climatic and hydrological forms influencing the environment. The vegetation around there isn't fixed, with factors being the neighborhood geology and atmosphere. The improvement of humus and development of plants happen, the daylight presentation and soil conditions begin to change. At the point when the dirt gets more extravagant, it draws in bush and forest plants, along these lines changing the vegetation. This procedure is known as progression. Fauna on beach front hills isn't very evide

A Review of Contemporary Management Ideas and Practices - Free Essay Example

A Review of Contemporary Management Ideas and Practices At the heart of any organisation lies its culture in which are found the philosophies on how to work together and individually, how to treat customers, and how to generate revenue or keep the business operating successfully. Leaders and even middle managers are concerned with meeting some key goals tied to customers, products, and revenue, but they sometimes do not pay attention to the culture. The overriding beliefs and behaviours in the organisation that truly determine the ability to hit those key goals or not (Ford 2008: 1). It is the culture that determines how things get done, whether it is in a good or bad way, and it provides the mechanism for changing strategies and responding to competition or causing the demise of a merger or creating silos of isolation and conflict (Ford 2008: 2). Therefore, effectively managing culture in a way that addresses problems and helps everyone in the organisation embrace this culture will provide a strong foundation for accomplishing all the organisations strategic objectives. This paper will critically evaluate both the assumptions and methods put forward by various writers, including Edgar Schein, to effectively manage organisational culture as an integral component of management practices and strategic success. Understanding Organisational Culture As part of social science, the study of culture has been around for many decades as a means of better understanding how it plays a role in the â€Å"functioning of society† (Denison and Mishra 1995: 204). In recent years, business theorists began to look at the organisation of companies in the same manner, understanding that the same socialisation process could be applied to a business that previously might have just been seen as an intangible thing rather than a living organism that was made up of individual and collective behaviours. One book described culture as the result of â€Å"group learning experiences in which a number of people face a problem and work out a solution together† (Miner 2007: 321). This could mean that one organisation develops a culture that can provide them with a competitive advantage whilst another may focus on ethical or environmental standards and still another may look to create a culture that is geared toward customers or techno logical innovation (Sims 2002: 301). Whatever the case, the culture is directed toward a particular belief about one of those areas that serves to direct all the organisations approach to strategy as well as its interaction with the external and internal environments. That would certainly describe what is happening with business today as products and services are framed around finding solutions whilst internal processes are devised to solve internal problems. Other issues on an internal scale are also being linked to culture, especially when it comes to large firms caught up in scandals riddled with a lack of ethics like Enron and many of the recent lending practices in the U.S. and the U.K. that led to the credit crunch, in which the blame was placed firmly on the shoulders of the leaders and the culture that they had developed that might have promoted greed and a lack of ethical behaviours (Pfister 2009: 2). Now that this understanding is becoming more readily accepted within organisational studies, theories on business culture and how it is being managed have begun to be formulated with a diverse array of ideas about how it plays out within management practice and organisational development (Martin 1992: 4. One of the earliest proponents of an organisational culture theory was Edgar Schein who believed that organisational culture was comprised of â€Å"assumptions, values, and artefacts† (Hatch 1993: 657). His perspective was based on a functional perspective in which these three components, which help to explain specific standards, beliefs, and ideals, form the basis of how to react to and cope with other factors that would help existing workers and new members to perceive and think about these factors in the same way to achieve a â€Å"normal† way in which to address existing problems or issues (Schein 1988: 12). In this way, Scheins theory illustrated that culture was a multi-layered intangible within a company that was first based on visible organizational structures and processes known as artefacts that were then connected to the organisations values (the strategies, philosophies, and goals) as well as to the basic underlying assumptions in an organisation, which is comprised of those beliefs that are â€Å"a given† or that are â€Å"taken for granted† (Schein 1992: 2). Similarly, Rousseau saw culture as a multi-layered, ring-like framework in which there are both visible and invisible signs and feelings of an organisations culture both of which must be addressed (1990: 158), illustrating that it is both tangible and intangible aspect of daily operations. Since then, a number of theories have evolved from this early definition to envision organisational culture as a combination of these components as well as symbols and processes, which provide fluidity and flexibility for cultures to shift and change based on both dynamic internal and external factors (Hatch 1993: 657). There are three key theoretical views of culture in organisations that help to explain how culture works and what it achieves. First, the integrative theory sees culture as a means of achieving some sort of a consensus across the organisation in which there is general agreement and united effort toward a common goal and purpose (Martin 2002: 94). The differentiation theory maintains that there may be subcultures or groups within an organisation that share a common belief but that may diverge from an overall consensus (Martin 2002: 94). Then, there is the fragmentation theory, which maintains that there may always be ambiguity and conflict within any type of culture but that it is necessary in order to adapt, be flexible, and be open to change (Martin 2002: 94). These last two theories contend that these types of organisational cultures are often found in large organisations, particularly those that are global in nature (Bush 2003: 160). There are also typologies of organi sational cultures that have been developed within theoretical frameworks as a way to categorise certain approaches to developing a culture. For instance, Quinn McGrath (1985: 318) created four types of organisational structuresHierarchy, Market, Adhocracy, and Clan) that correlated with four cultural typesHierarchical, Rational, Ideological, and Consensual. These have then been used as benchmarks for organisations that are looking to adapt their cultures or bring structure to what has become a fragmented culture in order to take advantage of the of cultural types and accompanying behaviours and ideals in hopes of improving their performance. Theories on Managing Organisational Culture Since many theorists contend that organisational culture very much impacts an organisations ability to attract and retain talent, achieve specific performance levels that achieve profitability, and grow and expand operations (Denison and Mishra 1995: 204), it is clear that culture must be crafted, shaped, and managed in an effective way in order for it to help those within the organisation realise certain strategic objectives. This is especially important in a business environment that is becoming more turbulent and unstable as well as one that requires specific cultural change when the external environment and demands shift as well as dynamic internal changes occur, especially when dealing with mergers of two organisations with different cultures (Ashkanasy et al. 2000: 261). For example, one study found a direct correlation between company performance, using annual growth rates in sales, equity ratio, and the rate of return on its total assets, when study 88 Japanese o rganisations of various sizes (Kono 1990: 11). The highest performance rates were in those companies that had a vitalised, follow the leader culture and a vitalised culture versus those cultures that were stagnant, follow the leader and stagnant, and bureaucratic (Kono 1990: 12). Often, the cultures that were stagnant and bureaucratic were found in the larger organisations as well as those that had older employees versus those organisations that were newer, younger, and more flexible in their cultures (Kono 1990: 17). Hence, a number of traits have to be in place and carefully managed to formulate an organisational culture that will become embedded in the organisation and become part of the daily behaviours of all that work there. One theory of organisational culture suggests that there are four key traits that management must nurture, namely consistency, adaptability, involvement, and mission (Denison and Mishra 1995: 204). These traits also involve other effective behavio urs that have been identified for helping an organisational culture focus on the right aspects of business, and these include â€Å"flexibility, openness, and responsiveness† as â€Å"strong predictors of growth† (Denison and Mishra 1995: 204). Additionally, other behaviours that are essential with a business culture include profitability predictors, such as â€Å"integration, direction, and vision† (Denison and Mishra 1995: 204). Even more current literature suggests the need for an organisational culture to focus on these three behaviours as a formula for success. Schein referred to the development and management of these traits as cultural embedding, which is primarily the responsibility of an organisations leader and management team based on what they determine are the most important values, traits, and goals to have for the organisation to achieve what it intends to do (Miner 2007: 321). It is the set of ideologies that an organisations leader has, according to existing theories on the subject, which will direct how the culture is developed and what ideals and values are encouraged (Ashkanasy et al. 2000: 262). In order to maintain the cultural embedding and ensure the right culture is developed at both the overall level and among the developing subculture framework, it is then up to the leader and management to ensure some types of control mechanisms are in place over the tangible and intangible aspects of the organisation, including the â€Å"(1) organizational structure and design, (2) organizational procedures and systems, (3) the design of buildings and physical space, (4) stories and myths regarding important people and events, and (5) formal statements of organizational philosophies and missions† (Miner 2007: 321). A similar school contends that the notion of organisational culture is based on the premise that people within an organisation act out their roles and responsibilities in response to how t hey define the concept of work and how their organisation rewards or punishes that definition of work, which then determines how they respond to those cultural beliefs (Chan 2000: 83; Alvesson 1993: 118). As such, managers would need to shape their organisational culture in such a way to help influence their workers definition of the concept of work so that they can maximise their talent and increase productivity in order to achieve their objectives. Again, this returns to the notion of cultural embedding where the management and leadership must imbue this culture into each individual within their organisation to influence beliefs and behaviours (Chan 2000: 83). Because many of the concepts involved in culture tend to be intangible and somewhat hidden, including beliefs and values that may be hard to discern or articulate, the available management theories contend that it is up the leadership to take up the cause and communicate what the values and beliefs mean on a regular and consistent basis as part of the embedding process (Bush 2003: 160; Smircich 1985: 58). Additionally, the theories contend that leadership must also take up the cause of culture by creating and encouraging specific rituals and ceremonies, such as reward programmes, employee meetings, and other tactics that are designed to reinforce the values and beliefs of the organisations (Bush 2003: 161). Effective intervention by leadership in an organisation can help adjust the culture to where it should be in order to meet strategic objectives. Theorists believe that leadership can enact this type of cultural shift through consensus building with the organisational members, focusing on trust and relationship-building both internally and externally, directing high levels of communication and feedback throughout the organisation, providing the necessary training and knowledge transfer, and, most importantly, leading by example (Deal and Kennedy 1982: 189). These tactics by managemen t are particularly essential for larger organisations that may have subcultures, including those with multiple locations, which may need to change or adapt to an overall organisational shift in strategy or beliefs, such as a movement to an environmentally sensitive culture or a culture that is more customer-focused. Conclusions It is important to remember that, more often than not, theory is one thing and practice is something that is usually entirely different because it involves the dynamics of the real world as well as a wide range of human personalities, behaviours, and leadership styles that make organisational culture into its own specific process within a wide array of organisations. However, these theories provide a foundation for organisations to learn how to adapt their behaviours and beliefs to better achieve their performance goals and strategic objectives. It is the leadership that sets the tone and shapes the cultural structure just like the leader of a country convinces the majority of its citizens to uphold certain beliefs and values. So, too, will those managing the masses within an organisation as they are responsible for guiding how work is perceived—and this can be in a positive or negative way—which then determines how those within the culture will enact it with each other, customers, and other stakeholders. Leading the way must be the head of the organisation along with the entire management team who can articulate and reward the behaviours and beliefs that they see as their ideal organisational culture, helping those within the organisation better understand the types of tangible and intangible components are essential for success. References Alvesson, M. (1993). Cultural Perspectives on Organisations. Cambridge, UK: Cambridge University Press. Ashkanasy, N.M., Wilderom, C., and Peterson, M.F. (Eds.). (2000). Handbook of Organizational Culture and Climate. Thousand Oaks, California: Sage Publications Inc. Bush, T. (2003). Theories of Educational Leadership and Management. London, UK: Sage Publications, Ltd. Chan, A. (2000). Critically Constituting Organization. Amsterdam: John Benjamins Publishing Company. Deal T. and Kennedy, A. A. (1982). Corporate Cultures. Reading, Massachusetts.: Addison-Wesley. Denison, D.R. and Mishra, A.K. (1995) â€Å"Toward a theory of organizational culture and effectiveness.† Organization Science, Vol. 6, No.2, 204-223. Ford, L. (2008). The Fourth Factor: Managing Corporate Culture. Indianapolis, Indiana: Dog Ear Publishing. Hatch, M.J. (1993). â€Å"The dynamics organizational culture.† The Academy of Management Review, Vol. 18, No. 4, 657-693. Kono, T. (1990). â€Å"Corporate culture and long range planning.† Long Range Planning, 9-19. Martin, J. (1992). Cultures in Organizations Three Perspectives. Oxford, UK: Oxford University Press. Martin, J. (2002). Organisational Culture: Mapping the Terrain. Thousand Oaks, California: Sage Publications Inc. Miner, J.B. (2007). Organizational Behavior: From Theory to Practice. New York: M.E. Sharpe Inc. Pfister, J.A. (2009). Managing Organizational Culture for Effective Internal Control. Berlin, Germany: Physica-Verlag. Quinn, R. E. and McGrath, M. R. (1985). â€Å"The transformation of organizational cultures: A competing values perspective.† In Frost, P.J. et al. (Eds.), Organizational Culture, Newbury Park, California: Sage Publications, 315-334. Rousseau, D. M. (1990). â€Å"Assessing organisational culture: The case for multiple methods. In Schneider, B. (Ed.), Organisational Climate and Culture, Oxford, UK: Jossey-Bass. Schein, E.H. (1988). Org anizational Culture. Sloan School of Management Working Papers, Massachusetts Institute of Technology. Schein, E.H. (1992). Organizational Culture and Leadership, 2nd Edition. San Francisco, California: Jossey-Bass. Sims, R.R. (2002). Managing Organizational Behavior. Westport, Connecticut: Quorum Books. Smircich, L. (1985). â€Å"Is the concept of culture a paradigm for understanding organizations and ourselves?† In Frost, P.J. et al. (Eds.), Organizational Culture, Newbury Park, California: Sage Publications, 55-72.

Personal Statement Apple Inc. - 1338 Words

Apple Inc. Introduction When someone thinks about Apple, they realize that it is the biggest company in the world. This is because it has more than $700 billion in market capitalization, more than twice the second company. The immense appeal of the company is based on the fact that is has really embraced this concept of spirituality in the workplace. This is done through this philosophy of design and customer oriented focus. Through these two principles, they have innovated and developed some of the most popular devices people use today. In fact, they have created an almost cult-like following where people are very loyal to the brand and it is clear that it takes its position as seriously by encouraging creativity and being bold in their†¦show more content†¦Instead of seeing it this way, Jobs believed that the apple represented more than lust of knowledge, rather than as a sin (Gallo, 2012). Since he wanted to be different, Jobs also approved a logo with an apple with a bite taken out of it. He a lso sold his first computer for the price of $666.66, which many Christians believe is the sign of the anti-Christ (Rinallo, Scott Maclaran, 2013). While many would see this as something that is not spirituality, it is clear that spirituality is laid in the foundations of the company. Apple did not stop there. In 1984, it produced the now famous commercial that showed a women running to the stage in the dark and throwing something at the screen that showed â€Å"big brother† (Levy, 2006). This was in reference to the novel 1984, which was about dystopian future. The novel was steeped in spirituality in order to control the masses (Levy, 2006). The advertisers at Apple believed that this was the way to reach out to the masses because it showed uniqueness and the willing to break barriers. This is where they started to really embrace the concept of â€Å"think differently†, that would go on to define their company and products (Belk Tumbat, 2005). Moreover, the â€Å" big brother† reference was also a jab at IBM in which Apple was confronting through their ad. The ad suggest that Apple was anti-authoritarian and that Apple’s independence was tied to its spirituality based on its

Essay on The Caribbean Islands - 1222 Words

The Caribbean The Caribbean, a region usually exoticized and depicted as tropical and similar in its environmental ways, cannot be characterized as homogenous. Each individual island has their own diverse historical background when it comes to how and when they became colonized, which European country had the strongest influence on them, and the unique individual cultures that were integrated into one. The three authors Sidney W. Mintz, Antonio Benitez-Rojo, and Michelle Cliff, all and address the problem of the Caribbean’s identity. They each discuss how the Caribbean’s diverse culture was created and molded by each individual island’s history, how its society was molded by the development of plantations, how the Caribbean dealt with†¦show more content†¦make it very difficult to characterize the Caribbean as a cultural area. Benitez-Rojo agrees with this idea, also rejecting the idea that the Caribbean is a cultural area. According to Mintz, the Caribbean is similar in social-structural features rather than cultural ones. In his analysis of the Caribbean, he organizes the commonalties of the region using nine distinct features, which bind the islands of the Caribbean into a major societal area, regardless of their differences. Mintz also emphasizes how the Caribbean should be viewed in terms of a multidimensional continuum, rather than in terms of some single abstract model(Mintz 21). Mintz also expresses how the islands of the Caribbean lack unity and a sense of national pride. He suggests in his article, The Caribbean as a Socio-Cultural Area, that a social hierarchy does not exist in the Caribbean. 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Analytical Exposition on Food Insecurity-Free-Samples for Student

Question: Discuss about the Analytical Exposition on Food Insecurity in Australia. Answer: Food insecurity is the method that helps to measure the food deprivation. In Australia, the food insecurity is increasing that contributes to understanding the food accessibility, utilization, stability, and availability. The people of Australia face the growth of hunger, health inequalities and health risks (Guerin 2016). People need to have the enough amount of nutritious food that can help to secure the health status of individuals. People who susceptible to the food insecurity, are unemployed people, low- income people, single parents, young people and the rental households. The study focuses on the issues of the food security in Australia. The discussion shed lights on the impact of food insecurity on the health status of people. The challenges of the food insecurity are discussed. Food insecurity is prevalent in most of the third world nations of the particular group of people as well as in the developed countries like Australia. According to Hertel and Baldos (2016), food access refers to the capacity of acquiring and consuming the nutritious diet. This can include the capability to buy the foods as well as transportation of food. This can help people to gain knowledge to know about the quality of food. Food availability is the food supply in the community, which affect the food security of different people such as individual, community, households and the entire population. People need to know the location of the food outlets, quality, expense, variety and availability of foods. As opined by Auler, Teixeira and Nardi (2017) the food must be nutritionally balanced that is the food must contain an adequate amount of carbohydrate, protein, fat, vitamins, minerals and water. MacCallion (2016) mentioned that food insecurity does not always mean the hunger. Figure 1: Per Capita food losses and waste (Source: Globaleducation.edu.au. 2017) Food insecurity has the significant impact on the health status of people. People need to consume optimal food for their health safety. Food insecurity may increase the anxiety among people; hence, it is necessary to use the food appropriately (Grafton 2016). Improper use of the food can lead to the poor nutrition quality and extreme hunger. According to the survey of Australian National Nutritional Survey of 1995, particular group of people are at the high risk of food insecurity (YouTube. 2016). Indigenous people are the high risk (24 %). The rate of unemployed people is 23%, single parent household is 23 %. The rate of low- income individuals and rental household people is 20 % respectively. Young people are of 15 %. Other people, who are at the risk of food insecurity, are specific groups like refugee, who are unable to access the transport system, who misuse tobacco and alcohol, as well as the disable people (McLean 2017). Some people face barriers to access the food such as lack of transportation, disability, lack of money. Poor quality food is a significant obstacle in case of the food security. People, who have the low income and the people of remote areas suffer from the food insecurity the most due to the poor quality of food stuff (YouTube. 2016). They mainly suffer from the health issues as they do not get proper nutrition. Food needs to be prepared according to the food safety guidelines. However, many of people in Australia are not aware about the food safety and food hygiene. People of low income prefer the foods of cheap quality that is enriched with the lower quality of food staffs like oil, butter, salt and others (Rosier 2011). This is harmful for health and can create serious health issues like obesity, central nervous system, cardiac problem, and hypertension. Few people misuse the alcohol and tobacco; as a result they spend money on those things and cannot buy proper food to be healthy (Grafton 2016). Food insecurity mainly affects the children and older people as they are the vulnerable group. As mentioned by Hertel and Baldos (2016), food security is one of the significant social determinants of the health. It can affect the academic life of students. Due to insufficient food, the body may not get adequate amount of energy and brain use the carbohydrate as the fuel of body. If people do not have energy then it is quite impossible to concentrate in the works and achieve the goal. Children may suffer from protein energy malnutrition due to the food insecurity (Globaleducation.edu.au, 2017). Food insecurity can increase the mortality and morbidity rate of people in Australia. For the good health status, not only regular meals but also nutritional food play important role. People need to maintain the food security while preparing, handling, storing of food so that the food borne disease can be avoided as well as the food insecurity. Figure 2: Productivity growth for agricultural industries (Source: McLean 2017) People need to take at least five meals per day, which needs to be enriched with the foods from each of the five groups. These groups are cereals, pulse and legumes, dairy products including fat, vegetables and fruits, and proteins like lean meat, fish, and soya bean (MacCallion 2016). People mainly skip their meals, which is not a good practice and increases the chances of the obesity and various chronic diseases like high blood pressure, type 2 diabetes, renal dysfunction and others. However, Guerin (2016) argued that the nutritious food is much expensive than the unhealthy foods; hence, the low income people prefers the unhealthy foods more than healthy foods. For the wellbeing of the people of Australia, food security is essential. The unhealthy food is rich in calorie, fat and unhygienic elements. Hence, the situation needs to be developed. Food security is the condition that has relations with the food supply, and accessibility (Timmer 2017). Due to food insecurity the growth o f the children becomes stunted as well as mental development hampers. Proper nutritional education is necessary for the food security so that people can be aware about it. Especially the people at the high risk needs the education on food security and should know about the foods that are nutritious but pocket friendly. Figure 3: Basic Framework for Understanding Food Security Issues (Source: Timmer 2017) The food supplying organizations need to be aware about the food safety and food hygiene to avoid the dangerous diseases like cancer (Islam and Wong 2017). People need to know the appropriate procedure of the food security that is the way to handle food, preparing method, and storing method. For the education, the government can choose people from different region and can train them so that they are able to provide education to others in their own language. People need to prefer fresh foods in meal that is essential for the body. Government can implement different policies to reduce the food insecurity and make people aware about the food security (Guerin 2016). The government of Australia can make national food plan for the people who are at the risk and balance the food safety and food availability levels. The policies need to be implemented in the remote areas mainly, where the people have transport problem and cannot access food. In view of Islam and Wong (2017), the government can arrange the food security program to address the issues of the food insecurity and this can help people. One of the most effective programs is the community kitchen pilot project, which can help people to improve the food security via gaining knowledge of food. Food knowledge can help people to choose the food of daily life in affordable price. The participants of the program can be of different age group, community and gender without discrimination (Timmer 2017). To make the program successful, the group members need to be involved in the financial investment and attract people for their active participation. The organizer of the programs can arrange training and workshops for the participants so that they can avoid the food insecurity and improve the cooking skills with the nutritional knowledge. This can develop the food safety as well as the hygiene practices. The program can develop the community strength. The food security wi ll allow the participants to develop the mental health as well as the physical health. The low cost food diet charts can be provided to the participants so that they may have the idea about the low cost food (Globaleducation.edu.au. 2017). Based on the above discussion, it can be said that due to food insecurity the growth of the children becomes stunted as well as mental development hampers. People, who have the low income and the people of remote areas suffer from the food insecurity the most due to the poor quality of food stuff. People need to know about the location of the food outlets, quality, expense, variety and availability of foods. The government of Australia can make national food plan for the people who are at the risk and balance the food safety and food availability levels. his can help people to gain knowledge to know about the quality of food. Proper nutritional education is necessary for the food security so that people can be aware about it. The food security will allow the participants to develop the mental health as well as the physical health References Auler, D.P., Teixeira, R. and Nardi, V., 2017. Food safety as a field in supply chain management studies: a systematic literature review.International Food and Agribusiness Management Review,20(1), pp.99-112. Globaleducation.edu.au. 2017.Food security | Global Education. [online] Available at: https://www.globaleducation.edu.au/global-issues/gi-food-security.html [Accessed 8 Aug. 2017]. Grafton, R.Q., 2016. 4 Global risks and opportunities in food, energy, environment and water to 2050.The Water, Food, Energy and Climate Nexus: Challenges and an Agenda for Action, p.72. Guerin, T., 2016. AIA submission into productivity commission draft report on regulation of Australian agriculture.Agricultural Science,28(2), p.43. Hertel, T.W. and Baldos, U.L.C., 2016. Overview of Global Land Use, Food Security and the Environment. InGlobal Change and the Challenges of Sustainably Feeding a Growing Planet(pp. 1-12). Springer International Publishing. Islam, M.S. and Wong, A.T., 2017. Climate Change and Food In/Security: A Critical Nexus.Environments,4(2), p.38. MacCallion, G., 2016. State Responses to Human Security: A National Security Framework. New Approaches to Human Security in the Asia-Pacific: China, Japan and Australia, p.195. McLean, J., 2017. Water cultures as assemblages: Indigenous, neoliberal, colonial water cultures in northern Australia.Journal of Rural Studies,52, pp.81-89. Rosier, K., 2011.Food insecurity in Australia: What is it, who experiences it and how can child and family services support families experiencing it?.Child Family Community Australia. [online] Available at: https://aifs.gov.au/cfca/publications/food-insecurity-australia-what-it-who-experiences-it-and-how-can-child [Accessed 8 Aug. 2017]. Timmer, C.P., 2017. Food Security, Structural Transformation, Markets and Government Policy.Asia the Pacific Policy Studies,4(1), pp.4-19. YouTube. 2016.Does Australia have 'food security?'. [online] Available at: https://www.youtube.com/watch?v=VWp5OAdqzxY [Accessed 10 Aug. 2017]. YouTube. 2016.The Shocking Truth About Food Insecurity | Clancy Cash Harrison | TEDxWilmingtonWomen. [online] Available at: https://www.youtube.com/watch?v=HakCAdPrlms [Accessed 10 Aug. 2017].

The Impact of the Internet on Children free essay sample

The Impact of the Internet on Children Introduction amp; Background With the advanced development computer technology, currently, the internet is prevalently spreading nearly everywhere in our life, work and study. In fact, the internet is a double-edged sword. On the one hand, the internet can help us to handle lots of complicated matters and make people broaden their horizons through the internet. However, according to the research, most of the people, especially lots of children, are influenced by the internet negatively in terms of time management, addiction to the online games, free pornographies and adult films, physical health and family relationships. Therefore, we must come up with some solutions which based on parental control and parental support to figure out these problems of the internet on children. Specific negative impacts of the internet on children One of the negative impacts of the internet on children is disrupting the time management in their normal life. We will write a custom essay sample on The Impact of the Internet on Children or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As mentioned in the article â€Å"Internet parenting styles and the impact on Internet use of primary school children,† the authors Valcke, Bonte and Rots (2010) indicate that children cannot schedule time properly because of the internet disturbance. According to a sociological survey based on a group of questions given to some of Romanian parents (Muresan, Catalano amp; Bocos, 2010), 16. 73% of the parents think their children spent lots of time on the internet, and less time on other outdoor activities, and even sometimes they did not do their homework and copied other children’s homework, instead. In fact, more and more children are psychologically over dependent on the internet because many people call current generation as â€Å"digital natives† or â€Å"net generation† (Prensky, 2001). Not surprisingly, many children have accessed to the internet when they are in childhoods. â€Å"More than 80% of family has at least one or two computers; even some children have their own computers† (Muresan et. al. 2010). Moreover, more than half of the parents think that the main purpose of the computer is surfing the internet for information and they take it for granted that children can access the internet. As a result, children spend more time on the internet, and less time on the other activities in recent years. As a matter of fact, it is a very common phenomenon that current generation is the first generation that experiences the world primarily by means of the internet. The second negative impact of the internet on children is an addiction to the online games, free pornographies and adult films. We just call it â€Å"net addiction†. In their article, the three authors Muresan, Catalano and Bocos(2010) illustrate that 34. 95% of students like to play online games in their spare times. In another article, â€Å"Negative effects of the internet†, Wilkinson (2011) points out that more and more children become addicted to the internet. To be more specific, she mentioned that the internet houses more free pornographies and adult films which are easier to for children acquire than before although over 50% of parents said they control their children’s activity at the computer (Muresan et. al. 2010). In fact, the most important part of the parental control is not only control but offer help to children when they surf the internet. However, the majority of parents do not pay attention to internet education on children because â€Å"only 13. 2% of children receive guidelines by their parents† (Valcke, Bonte, Wever amp; Rots, 2010, P456). As a result, an increasing number of pornographies make it much easier for children to access adult films and absorb sexual images because there are more than 80% of the primary school children saying they are at unsafe internet usage (Valcke et. al. 2010). To some extent, the internet controls children’s life by pornography which makes it become a ubiquitous nature of thing in their normal life (Wilkinson, 2011). Therefore, more and more children fall victim to this negative emotional impact due to an unregulated online game, a harmful exposure to pornography and an uncontrolled publication of adult film on the internet. In the article â€Å"The effects of behavioral inhibition/ approach system as predictors of Internet addiction in adolescents†, the author Park, Lee, Jung and Choi (2012) raise a possible explanation to the children’s net addiction is the anxiety. That means the more anxiety to the internet, the less self-control on the access to the internet. Therefore, most of children are negatively influenced by an increasing number of online games, free pornographies and adult films, thus affecting their physical health. Besides an addiction to the online games, free pornographies and adult films, physical health is another major negative impact of the internet on children. Can you imagine sitting in front of a computer screen continuously for a long time without any food and water? In fact, it is a very common scene to most of children when they at the computer, especially for surf the internet. Therefore, lack of physical activity, children are easily getting in lots of unhealthy lifestyle even connected to the diseases such as obesity, eyesight problem and spine problem (Valcke et. al. 2010). Specifically, the more time in front of the computer screen, the more harmful computer radiation to children’s physical health. Moreover, more than 27% of the parents think the internet caused medical problems such as sight and spine problems among their children (Muresan et. al. 2010). In recent years, although governments in different nations energetically develop national fitness programs which cause more and more people interest in exercise, the majority of parents would like to pay more attention to children’s school grades rather than the awareness of the need for children’s physical health. Consequently, an increasing numbers of children choose to stay at home and surf the internet instead of participating in outdoor activities. Last but not the least, family relationships are gradually broken by exposure to the internet. At present, more and more children and adults would like to make net friends instead of friends in real life (Wilkinson, 2011). Not surprisingly, more and more children rely on networking communication with others thus having flaw in face-to-face communication with their family members, especially with their parents. If children spend most of time on the internet, they will spend less time talking with their parents in real life. It is another symptom of poor time management. Without the internet, children largely depend on their parents to verify what they see, hear and feel (Verdick, 2012). However, with the appearance of lots of uncontrolled information on the internet, children prefer to talk with cyber friends and believe what they see, hear and feel on the internet. It also corroborate the anxiety is an explanation to the children’s net addiction Therefore, children who keep online are less likely to identify what is real and what is not, and they are unable to sense reality in the virtual world. As a matter of fact, children are always curious about new things even feel excited about making unreal friends on the internet while ignoring the real relationships between parents and themselves. You may have a question? Although this paper focuses more on the negative impacts of the internet on children, some people may argue that the internet plays a significant role in children’s life because it brings children a lot of convenience. In the article â€Å"The impact of Computer and Internet on the Young Students- An Ascertaining Research,† the authors Muresan, Catalano and Bocos (2010) think the biggest benefit of the internet for the children is the development of the mental abilities which include thinking, logic and observation, followed by an improvement of general culture and the interest for new things (21%). Children can no doubt absorb a large amount of knowledge on the internet. For example, when meeting difficulties on study, they search the internet for help, which is convenient, fast and easy. However, the internet brings children more hazards than benefits. For example, children are psychologically over dependent on the internet instead of challenging themselves in study, work and life. Therefore, the negative impacts of the internet on children exceed the benefits of the internet. Solutions to the negative impacts of the internet on children To offset the negative impacts of the internet on children mentioned above, there are two major ways: parental control and parental support. â€Å"The definition of parental styles is the number of involvement and strictness controlled by parents to deal with their children† (Valcke et. al. 2010). In terms of parental control, four authors Valcke, Bonte, Wever and Rots (2010) indicate that parents could restrict the internet use of their children by means like installing filter software, checking internet log files and drafting internet usage rules. Unfortunately, only 26. 3% of parents do these jobs regularly (Valcke et. al. 2010), with few practical effects on the resolution to the children Internet issue. Compared with effects of the parental control, parental support is a more effective measure to deal with the problems. Firstly, more than 60% of the parents talk with their children about the internet (Valcke et. al. 2010). This means the majority of the parents prefer to communicate with their children, and give support at different levels. Additionally, parents expect to create a safe and private internet environment for children so that they can accept parents’ advice actively instead of passively. Therefore, guiding children with respect to the internet usage and supporting them without strict limits are more effective than control and limit their access to the internet strictly to deal with the problems of internet. Conclusion The explosive growth of the internet is transforming children’s daily life. The specific negative impacts of the internet on children are clearly presented in this paper. In fact, these impacts of the internet on the children’s emotional, cognitive and social development are beginning to be highly valued. The parents, being aware of these negative impacts of the internet on children, have attempted to solve the problems by parental control and parental support. However, the majority of the parents understand their roles in children’s internet usage but unfortunately only a few become aware of the correct guidance in their children’s internet usage. People need educational distributions and legislation to maximize the positive impacts of the internet on children. If people managed well, internet can improve children’ time consciousness, enhance self-protection awareness, maintain physical health and deepen family relationships. But for these positive results to occur, as a society, people must learn how to confront these challenges in the internet development. References Muresan, E, Catalano, H amp; Bocos, M (2010). The Impact of Computer and Internet on the Young Students- An Ascertaing Research. Universitatii Petrol-Gaze din Ploiesti. Retrieved from http://0-web. ebscohost. com. opac. sfsu. edu/ehost/pdfviewer/pdfviewer? id=1facbc86-59e3-4a13-88b9-385f32ffba68%40sessionmgr112amp;vid=4amp;hid=123 Park, S. M. , Park, Y. A. , Lee, H. W. , Jung, H. Y. , Lee, J. Y. amp; Choi, J, S (2012, August 20). The effects of behavior inhibition/ approach system as predictors of Internet addiction in adolescents. Elsevier. Retrieved from http://ac. els-cdn. com/S0191886912003716/1-s2. 0-S0191886912003716-main. pdf? _tid=da565484-3cfd-11e2-b7ba-00000a ab0f6camp;acdnat=1354507356_78755496c7716d0ee4f40d037a42edd6 Valcke, M, Bonte, S, Wever, B. D. amp; Rots, I (2010, February). Internet parenting styles and the impact on Internet use of primary school children. Elsevier. Retrieved from http://ac. els-cdn. com/S0360131510000436/1-s2. 0-S0360131510000436-main. pdf? _tid=cc34c9b0-3cff-11e2-a504-00000aab0f6bamp;acdnat=1354508191_72c3199642988ce217aa866f5e1fbde4 Verdick (2012). Negative Effects of Internet Usage on Child Development. Verdick. ORG. Retrieved from http://www. verdick. org/child-development-and-the-internet/child-dev-neg Wilkinson, M (2011, September 09). Negative effects of the Internet. Helium. Retrieved from http://www. helium. com/items/1332671-negative-effects-of-the-internet

Night by by Elie Wiesel

Night by by Elie Wiesel Free Online Research Papers When reading the book Night by Elie Wiesel, I found myself unable to put it down. The word unbelievable kept coming to mind when reading away. How a person of such young age could have that much willpower and courage is hard for me to even fathom. Even though intolerance and racism still exist somewhat today, I am really thankful for the life I have. After reading the book I tried to put myself in the same situation and imagine what it would be like, but this mental exercise did not last long to say the least. If a Christian was in the same situation as Wiesel, I believe the effects would be analogous, in fact I think that any person that was in his shoes would question their beliefs at some point. If a Christian was in a Nazi camp it is logical that they would too question why God would allow this suffering. In the end though, a person with strong faith would assess the situation as a test from God. They might even look at this as part of God’s plan and relate it to Jesus’ suffering. I think this situation from a Hindu point of view would be a little tricky. A Hindu or Buddhist could probably explain his suffering and cope with it better than a Christian or Jew. I say this because they would not have God to blame. True they do have Gods they worship, but their religious motives are more self-directed since they control their destiny without relying on God, like Christians and Jews, to get you there. I do think a Hindu, especially one of a lower caste system, could tolerate the suffering better than others at first, but that level of toleration can last only so long. I suppose a Hindu could explain his or her own suffering as a test to the atman and perhaps one step closer to moksha. A Buddhist, to my best estimation, would view their suffering in similar way. Since many in the concentration camps realized that death, at some point, was probable, Buddhist could build from this. As long as they did nobody harm their road to Nirvana could be a realistic near future. While there were not many centralized characters in the book, there were those who made quite an impression. Akiba Drumer, a rabbi from Poland, was one who did not keep the faith like he should have. It was from his lack of faith that his life was cut shorter than it had to be. Drumer once told Elie, â€Å"It’s the end. God is no longer with us. (73)† I find it ghastly that a rabbi, of all people, would utter those words, as well as, â€Å"Where is the Divine Mercy? Where is God? How could I believe, how could anyone believe, in this merciful God? (73)† He felt that there couldn’t be a God, because otherwise there wouldn’t be this kind of suffering done to his children. Elie felt that if he had continued to believe, his life would have been prolonged, which is evident when he writes, â€Å"as soon as he felt the cracks forming in his faith, he had lost his reason for struggling and had begun to die.† From reading the book I was under the impression that eventually Elie found strength in himself not in God, almost like a bend but don’t break mentality. He was not very happy with God, and although he didn’t entirely question his faith, he certainly did question God and his motives. He felt that in some ways God was to blame for this, â€Å"I was the accuser, God the accused. (65)† If not for his father I think Elie would have not had the moral, even as little as it was, that kept him from giving up and ultimately headed towards a deadly date with the selection committee. It was during this time in camp that he and his father really bonded, it’s just a shame that the ending was what it was. It’s a shame how much dignity was stripped of these people captivate. There were times that they did get to act on their beliefs, when they gathered on the Appelplatz was one of them. I think they did this to feel at home, even for a short amount of time, and to ultimately feel human. What would captivate someone to treat a human being like this is a question without a humane answer. While this book was certainly depressing, it was heartfelt, insightful, and above all, moving. Research Papers on Night by by Elie WieselArguments for Physician-Assisted Suicide (PAS)Mind TravelGenetic EngineeringEffects of Television Violence on ChildrenHarry Potter and the Deathly Hallows EssayComparison: Letter from Birmingham and CritoResearch Process Part OneUnreasonable Searches and SeizuresCanaanite Influence on the Early Israelite ReligionAppeasement Policy Towards the Outbreak of World War 2

Constitution - Separation of Powers and Checks and Balances Essay

Constitution - Separation of Powers and Checks and Balances - Essay Example The legislative branch of the government of the US has the legitimate power of creating rules and regulation that govern the nation and has the right to keep a complete check and balance of the actions of the executive branch (Northrup, 2003, p.44). They have the ability to override a particular president’s power to veto by gaining a majority vote comprising of two thirds majority. They even have the ability to finances several actions conducted by the executive branch and can remove a residing president through the process of impeachment. They even are the ones who approve the appointments conducted by a particular president and treaties signed. The legislative branch can maintain checks and balances over the judicial branch be creating lower courts and removing judges through the process of impeachment and they even are the ones who approve and disapprove of appointed judges. On one end is the legislative branch that makes the laws, the legislative branch is responsible for carrying out laws. It can exercise check and balance on the legislative branch through their power to veto and hold extra special session for the congress and they even participate in law making by recommending legislative amendments and they can even appeal to the people of the legislative branch. They even conduct checks and balances on the judicial branch as the judges of the Supreme Court as well as federal level judges are appointed by the President of the United States. Similarly, the judicial branch has the ability to conduct checks and balances on the legislative and executive branch. They monitor and control the executive branch as judges that are appointed cannot be controlled by the executive branch and have the right to make decisions without any influence and they can use their power of judicial review to judge actions conducted by the executive branch as

Race, Empire and Education Essay Example | Topics and Well Written Essays - 1750 words

Race, Empire and Education - Essay Example century, confusion marred the classification of races where the Jews, Irish, and the Italians were considered as â€Å"black.† During the mid-nineteenth century, there was a lot of activity that saw the European nations move out of their continent to explore other regions. This was so intense that they had to compete amongst themselves. Slave trade gained roots due to the need for labor for the industries and farms during the industrial revolution. This made it possible for the Europeans to capitalize on the uncivilized races. In addition, there was a view of superiority among the Europeans who considered other races especially Africans as inferior and primitive. The mid nineteenth century being at the peak of the industrial revolution became the turning point in racial attitudes. Racial differences became explosive at the mid years of nineteenth century and were catalyzed by development of theories on racism. There are a number of theories that emerged that were used to explain various aspects of human variations. One of these differences was established to be the innate racial characteristics of individuals. In his work, published in 1850, Robert Knox points out that â€Å"race is everything: literature, science, art, in a word, civilization depends on it.† (Knox 1850, pg 7). With such a view, it is evident that there was a perception that the most important thing that determined the person’s worth was the race from which a person comes from. This theory further provided various conflicting propositions, for example, it establishes that the different races are different species. The mindset created among the whites created an impression of uniqueness superiority and intelligent. Another theory is that put forth by Count Arthur de Gobineau, a F renchman who composed an essay entitled â€Å"Essay on the Inequality of Human Races.† In this piece of work, Arthur amplifies the concept of race as one of the most important aspects that a person can be categorized, he

Several factors have helped bring Essay Example for Free

Several factors have helped bring Essay Several factors have helped bring about progress in medicine. In this essay, I will be discussing these factors. Firstly, I will be discussing how the government has helped to bring about progress in medicine. I will do this by giving an example and explaining. One good example is the measures taken by the government in Britain from the year 1900 to the year 1945. In total, there were nine acts and campaigns to improve health in Britain. This improved conditions in Britain and as a result, the death rate from illnesses and diseases decreased dramatically. Here is a table showing what the government did to improve medicine in Britain. 1902 Midwives Act, compulsory training and setting of standards. 1906 Education (Provision of Meals) Act, local authorities allowed to provide meals in elementary schools. 1907 Notification of Births Act, so that health visitors could be sure they visited all new babies. 1907 Education (Administrative Provision) Act, medical services provided for children at school. 1911 National Insurance Act, free medical treatment for workers who paid a contribution, but not their families. 1918 Maternal and child welfare Act, allowed local authorities to provide free clinics from pregnant woman and infants. 1930 Housing Act, slum clearance undertaken. 1940 Diphtheria immunisation campaign. 1940s Funding for the development of penicillin. War has helped and hindered progress in medicine in many ways. Medical help is needed mostly in wartime. In all wars soldiers were wounded this opened the possibilities for more progress in medicine. The best example is the progress made in the First World War, many things in medicine were improved because of the Great War. WWI was a massive worldwide conflict, more people died in it than in any other war before it. This was a result of new and deadly weapons being used for the first time. The most important breakthrough was through surgery, I will be discussing this later on in the essay. Many powerful guns and weapons were used this caused more severe wounds. In addition, more people were wounded this gave doctors and surgeons more opportunity to experiment with new techniques. Blood transfusion was very effectively improved, the storage and the transportation. Many recruits in the army had low standards of health. This made the government worry more and it also made them more eager to improve health care back home. The soldiers who fought in the war were promised good housing when they returned as a reward. This speeded up the process of getting rid of unhealthy slums in Britain. The soldiers, however, were never given these houses so they were in a way tricked into joining the army. In some ways, the First World War hindered the development of surgical techniques. It stopped a great deal of medical research. However, the war helped more than hindered. During the conflict surgeons did their best for the wounded but their methods, which worked well in a clean hospital operating theatre, were not so effective on a dirty battlefield. They had to develop new techniques to deal with the problems. Some of these techniques had an impact on surgery in civilian hospitals after the war. There were three main improvements in surgery, X-Rays, Blood transfusion and fighting infection. X-Rays were invented before the war but during the war, X-Rays were used for the first time. The X-Ray machine improved the success rate of surgeons in removing deeply lodged bullets and shrapnels, which would otherwise cause fatal infection. Blood transfusion had been used since the 1800s, but mysteriously it only worked sometimes. During WW1, scientists discovered that there were different blood groups and that the patient only recovered if he were given a blood transfusion with the same blood group as his own. This was an important discovery, which saved many lives. Finally, infected wounds, this was a real problem as most soldiers with wounds died from infection. During WW1, fighting infection was improved slightly. Surgeons cut away infected tissues and soaked the wound with a saline solution. War hindered progress in medicine in the following ways: Bullet wounds caused infection and powerful guns caused sever wounds, which not all doctors could cure. Millions of soldiers were killed and war stopped medical research doctors were taken away from their normal work to help the wounded in the war. I agree with the statement: chance by itself has never brought about progress in medicine. This is evident with Pasteurs discovery of a vaccine for chicken cholera. One of Pasteurs scientists injected a chicken with cholera; the scientist was confused because next day the chicken was not dead. Pasteur then asked him which cholera did he use, the scientist found out that the cholera he used was old and that it had been exposed to the air for a long time. They then injected the chicken with some fresh germs and they didnt work on the animal either. Pasteur decided the fresh germs were faulty he decided to try the fresh germs on different chickens. He found out there was nothing wrong with the fresh germs. Pasteur had found another vaccination. The old germs had protected the first group of chickens just like Jenners vaccine. Chance by itself has never brought about progress in medicine but it did play a big part in medicine but without the geniuses like Pasteur we may never have found out treatments and cures for deadly diseases.

Overview of Women’s History in Korea Essays -- Culture Asia Essays

Overview of Women’s History in Korea In modern day Korea, women are actively involved in many career fields, such as education, law, literature, sports, medicine, and engineering. However, it wasn’t too long ago that women were confined only to the home and family. The introduction of Christianity to Korea helped elevate women’s roles through schools ran by missionaries. Some were even specifically for educating women. (Korean Overseas Information Service, 2001) Many of the educated women began getting involved in religious work, teaching, the arts, and of course, the enlightening of other women. But it wasn’t until the establishment of the Republic of Korea in 1948, when women began gaining constitutional rights for equal opportunities in the work force, education, and public life. The economic growth that Korea has experienced at this time, and even today has contributed to the large amount of women going into the work force. The high amount of women in the work force, in professional jobs influenced the government to pass the â€Å"Equal Employment Act† of 1987 to prevent discrimination against females regarding hiring practices and promotion opportunities. However, with this added freedom, many Korean women feel highly pressured because they are burdened with both earning a living and their traditional roles as housewives. Modern Korean women are facing both physical and mental exhaustion due to the demands of society and their families. Add to that, childcare is a major problem in Korea. Although laws have been passed to promote the employment of women, and facilities for childcare should be provided, the reality is that childcare is sadly lacking. Recently, the government further suppo... ... capitalistic industrialization established of the 1960’s on the other.† (Chung, 1997) In other words, due to Confucius beliefs, women have not experienced total freedom in their private or public lives. Yet overtime, things will improve for Korean women due to the recent legislation set up to help further strengthen their roles in the workforce, education, and hopefully, in their private lives as well. Resources: 1. Women’s Contemporary Roles in Korea. Retrieved from the Internet on September 15, 2003. (http://www.askasia.org/Korea/r15) 2. Nugent, Sookja Chung. Korean Women’s History- An Overview. Korean Quarterly. (Fall, 1998). 3. (http://www.womeninworldhistory.com/heroine7.html) 4. Chung, Connie. Korean Society and Women: Focusing on the Family (1997). (http://www.hcs.harvard.edu/~yisei/backissues/spring_95/yisei_95_30.html)

Developing Financial Projections

PUBLIC COMPANY MANAGEMENT SERVICES WHITE PAPER Developing Financial Projections for NonFinance People This White Paper gives you the tools to answer the two most important questions any business must ask: â€Å"Are you financially prepared to begin? Are we able to sustain ourselves? † You’ll learn: †¢ What’s on financial statements and how they get there †¢ How to develop and understand income statements †¢ How to set up and read balance sheets †¢ How to use common formulas to evaluate cash flow †¢ How to create a budget using standard guidelines †¢ How to read and evaluate income projections †¢How to develop your own financial projections through a â€Å"fill in the blanks† approach† †¢ How to accurately determine the value of your idea or business This memorandum is provided by Public Company Management Services for educational purposes only and is not intended and should not be construed as legal advice. 200 4  © Public Company Management Services 5770 El Camino Road. Las Vegas, NV 89118 Phone: (702) 222-9076 http://www. pubcowhitepapers. com http://www. pcms-team. com http://www. foreigncompanylisting. com http://www. gopublictoday. com A Budget and Financial Worksheet OverviewManagers must ask, ‘is the business financially prepared to begin/continue’? Understanding basic budgeting guidelines, income projection statements, balance sheets and common formulas to evaluate cash flow help ensure successful operations. This financial knowledge significantly impacts a company’s short term and long term success. START-UP BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel (costs prior to opening) legal/professional fees occupancy licenses/permits equipment insurance supplies advertising/promotions salaries/wages accounting income utilities payroll expensesAn operating budget is prepared when you are actu ally ready to open for business. The operating budget will reflect your priorities in terms of how you spend your money, the expenses you will incur and how you will meet those expenses (income). Your operating budget also should include money to cover the first three to six months of operation. It should allow for the following expenses. OPERATING BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel insurance rent depreciation loan payments advertising/promotions legal/accounting miscellaneous expenses supplies payroll expenses Developing Projections www. publiccompanywhitepapers. om 14001 May 20,2003 †¢ †¢ †¢ †¢ †¢ salaries/wages utilities dues/subscriptions/fees taxes repairs/maintenance Other questions that you will need to consider are: †¢ What type of accounting system will your use? Is it a single entry or dual entry system? †¢ What are your sales and profit goals for the coming year? If a franchis e, will the franchisor set your sales and profit goals? Or, will he or she expect you to reach and retain a certain sales level and profit margin? †¢ What financial projections will you need to include in your business plan? †¢ What kind of inventory control system will you use?Sample balance sheets, income projections (profit and loss statements) and cash flow statements are included below along with detailed instructions for completing same. INCOME PROJECTION STATEMENT †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Total net sales (revenues) Costs of sales Gross profit Gross profit margin Controllable expenses Salaries/wages Payroll expenses Legal/accounting Advertising Automobile Office supplies Dues/Subscriptions Utilities Miscellaneous Total controllable expenses Fixed expenses Rent Depreciation Utilities Insurance License/pe rmits Loan payments Miscellaneous †¢ Total fixed expenses Total expenses Net profit (loss) before taxes Taxes †¢ Net profit (loss) after taxes INSTRUCTIONS FOR INCOME PROJECTIONS STATEMENT The income projections (profit and loss) statement is valuable as both a planning tool and a key management tool to help control business operations. It enables you to develop a preview of the amount of income generated each month and for the business year, based on reasonable predictions of monthly levels of sales, costs and expenses. As monthly or quarterly projections are developed and entered into the income projections statement, they can serve as definite goals for controlling the business operation.As actual operating results become known each month, they should be recorded for comparison with the monthly projections. A completed income statement allows you to compare actual figures with projections and to take steps to correct any problems. Industry Percentage In the industry per centage column, enter the percentages of total sales (revenues) that are standard for your industry, which are derived by dividing Costs/expenses items x 100% These percentages can be obtained from various sources, such as trade associations, accountants or banks.Industry figures serve as a useful bench mark against which to compare cost and expense estimates that you develop for your firm. Compare the figures in the industry percentage column to those in the annual percentage column. Total Net Sales (Revenues) Determine the total number of units of consulting service you realistically expect to sell each period (per month or quarter) in each area of your business at the prices you expect to get. Use this step to create the projections to review your pricing practices. †¢ Exclude any revenue that is not strictly related to the business. Cost of SalesThe key to calculating your cost of sales is that you do not overlook any costs that you have incurred. Calculate cost of sales of all services used to determine total net sales. Do not overlook transportation or travel costs if you’re working at a distance. Also include all direct labor. Gross Profit Subtract the total cost of sales from the total net sales to obtain gross profit. Gross Profit Margin The gross profit is expressed as a percentage of total sales (revenues). It is calculated by dividing gross profits by total net sales Controllable (also known as Variable) Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Salary expenses-Base pay plus overtime.Payroll expenses-Include paid vacations, sick leave, health insurance, unemployment insurance and social security taxes – may or may not be applicable. Outside services-Include costs of subcontracts, overflow work and special or one-time services. Supplies-Services and items purchased for use in the business. Repair and maintenance-Regular maintenance and repair. Advertising-Include desired sales volume and classified d irectory advertising expenses. Car delivery and travel-Include charges if personal car is used in business, including parking, tools, buying trips, etc. Accounting and legal-Outside professional services.Fixed Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ Rent-List only real estate used in business. Depreciation-Amortization of capital assets like computers. Utilities-Water, heat, light, etc. Insurance-Fire or liability on property or products. Include workers' compensation. Loan repayments-Interest on outstanding loans. Miscellaneous-Unspecified; small expenditures without separate accounts. Net Profit (loss) (before taxes) †¢ Subtract total expenses from gross profit. †¢ Taxes – Include inventory and sales tax, excise tax, real estate tax, etc. Net Profit (loss) (after taxes) †¢ Subtract taxes from net profit (before taxes) Annual Total – For each of the sales and expense items in your income projection statement, add all the monthly or quarterly figures across the table and put the result in the annual total column. Annual Percentage †¢ Calculate the annual percentage by dividing Annual total x 100% Sample BALANCE SHEET Assets Current assets Cash $_______ Petty cash $_______ Accounts receivable $_______ Inventory $_______ Short-term investment $_______ Prepaid expenses $_______ Long-term investment $_______ Fixed assets Land $_______ Buildings $_______ Improvements $_______ Equipment $_______ Furniture $_______ Automobile/vehicles $_______Other assets †¢ †¢ †¢ †¢ 1. $_______ 2. $_______ 3. $_______ 4. $_______ †¢ Total assets $______ Liabilities Current Liabilities Accounts payable $______ Notes payable $______ Interest payable $______ Taxes payable Federal income tax $______ State income tax $______ Self-employment tax $______ Sales tax (SBE) $______ Property tax $______ Payroll accrual $______ Long-term liabilities Notes payable $______ Total liabilities $______ Net worth (owner equity) $______ Proprietorship or Partnership (name's) equity $_____ (name's) equity $_____ or †¢ Corporation Capital stock $_____ Surplus paid in $_____ Retained earnings $_____Total net worth $_____ †¢ Total liabilities and †¢ total net worth $_____ (Total assets will always equal total liabilities and total net worth) _______________________________________________ INSTRUCTIONS FOR BALANCE SHEET Figures used to compile the balance sheet are taken from the previous and current balance sheet as well as the current income statement. The income statement is usually attached to the balance sheet. The following text covers the essential elements of the balance sheet. At the top of the page fill in the legal name of the business, the type of statement and the day, month and year. AssetsList anything of value that is owned or legally due the business. Total assets include all net values. These are the amounts derived when you subtract depreciation and amortization from th e original costs of acquiring the assets. Current Assets †¢ †¢ †¢ †¢ †¢ †¢ Cash-List cash and resources that can be converted into cash within 12 months of the date of the balance sheet (or during one established cycle of operation). Include money on hand and demand deposits in the bank, e. g. , checking accounts and regular savings accounts. Petty cash-If your business has a fund for small miscellaneous expenditures, include the total here.Accounts receivable-The amounts due from customers in payment for merchandise or services. Inventory-Includes raw materials on hand, work in progress and all finished goods, either manufactured or purchased for resale. Short-term investments-Also called temporary investments or marketable securities, these include interest- or dividend-yielding holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market valu e, whichever is less. Prepaid expenses-Goods, benefits or services a business buys or rents in advance.Examples are office supplies, insurance protection and floor space. Long-term Investments Also called long-term assets, these are holdings the business intends to keep for at least a year and that typically yield interest or dividends. Included are stocks, bonds and savings accounts earmarked for special purposes. Fixed Assets Also called plant and equipment. Includes all resources a business owns or acquires for use in operations and not intended for resale. Fixed assets may be leased. Depending on the leasing arrangements, both the value and the liability of the leased property may need to be listed on the balance sheet. Land-List original purchase price without allowances for market value. †¢ Buildings †¢ Improvements †¢ Equipment †¢ Furniture an Computers †¢ Automobile/vehicles Liabilities Current Liabilities List all debts, monetary obligations and cla ims payable within 12 months or within one cycle of operation. Typically they include the following: †¢ Accounts payable-Amounts owed to suppliers for goods and services purchased in connection with business operations. †¢ Notes payable-The balance of principal due to pay off short-term debt for borrowed funds. Also includes the current amount due of total balance on notes whose terms exceed 12 months. Interest payable-Any accrued fees due for use of both short- and long-term borrowed capital and credit extended to the business. †¢ Taxes payable-Amounts estimated by an accountant to have been incurred during the accounting period. †¢ Payroll accrual-Salaries and wages currently owed. Long-term Liabilities Notes payable-List notes, contract payments or mortgage payments due over a period exceeding 12 months or one cycle of operation. They are listed by outstanding balance less the current position due. Net worth Also called owner's equity, net worth is the claim o f the owner(s) on the assets of the business.In a proprietorship or partnership, equity is each owner's original investment plus any earnings after withdrawals. Total Liabilities and Net Worth The sum of these two amounts must always match that for total assets. __________________________________________________ MONTHLY CASH FLOW PROJECTION 1. Cash on hand (beginning month) 2. Cash receipts †¢ †¢ †¢ †¢ †¢ (a) Cash sales (b) Collections from credit accounts (c) Loan or other cash injections (specify) 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (Before cash out) (1+3) 5. Cash paid out †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ a) purchases (merchandise) (b) Gross wages (excludes withdrawals) (c) Payroll expenses (taxes, etc. ) (d) Outside services (e) Supplies (office and operating) (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (i) Accounting and legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc. ) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) Subtotal (s) Loan principal payment †¢ †¢ †¢ †¢ †¢ †¢ (t) Capital purchases (specify) (u) Other start-up costs (v) Reserve and/or escrow (specify) (w) Owner's withdrawal 6. Total cash paid out (5a through 5w) . Cash position (end of month) (4 minus 6) †¢ †¢ Essential operating data (non-cash flow information) †¢ A. Sales volume (dollars) †¢ B. Accounts receivable †¢ (end on month) †¢ C. Bad debt (end of †¢ month) †¢ D. Inventory on hand (end †¢ of month) †¢ E. Accounts payable (end †¢ of month) INSTRUCTIONS FOR MONTHLY CASH FLOW PROJECTION †¢ †¢ †¢ †¢ †¢ †¢ 1. Cash on hand (beginning of month) — Cash on hand same as (7), Cash position, pervious month 2. Cash receipts†¢ (a) Cash sales-All cash sales. Omit credit sales unless cash is actually received †¢ (b) Gross wages (including withdrawals)-Amount to be expected from all accounts. (c) Loan or other cash injection-Indicate here all cash injections not shown in 2(a) or 2(b) above. 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (before cash out)(1+3) 5. Cash paid out †¢ (a) Purchases (merchandise)–Merchandise for resale or for use in product (paid for in current month). †¢ (b) Gross wages (including withdrawals)-Base pay plus overtime (if any) †¢ (c) Payroll expenses (taxes, etc. )– Include paid vacations, paid sick leave, health insurance, unemployment insurance, (this might be 10 to 45% of 5(b)) †¢ (d) Outside services-This could include outside labor and/or material for pecialized or overflow work, including subcontracting †¢ (e) Supplies (office and operating)–Items purchased for use in the bu siness (not for resale) †¢ (f) Repairs and maintenance-Include periodic large expenditures such as painting or decorating †¢ (g) Advertising-This amount should be adequate to maintain sales volume †¢ (h) Car, delivery and travel-If personal car is used, charge in this column, include parking †¢ (i) Accounting and legal-Outside services, including, for example, bookkeeping †¢ (j) Rent-Real estate only (See 5(p) for other rentals) †¢ (k) Telephone †¢ (l) Utilities-Water, heat, light and/or power (m) Insurance-Coverage on business property and products (fire, liability); also worker's compensation, fidelity, etc. Exclude executive life (include in 5(w)) †¢ (n) Taxes (real estate, etc. )– Plus inventory tax, sales tax, excise tax, if applicable †¢ (o) Interest-Remember to add interest on loan as it is injected (See 2 © above) †¢ (p) Other expenses (specify each) _________________________________________ _________________________ ____________ Unexpected expenditures may be included here as a safety factor________________________________________ Equipment expenses during the month should be included ere (non-capital equipment)__________________________ When equipment is rented or leased, record payments here †¢ (q) Miscellaneous (unspecified)–Small expenditures for which separate accounts would be practical †¢ (r) Subtotal-This subtotal indicates cash out for op †¢ (s) Loan principal payment-Include payment on all loans, including vehicle and equipment purchases on time payment †¢ (t) Capital purchases (specify)–Nonexpensed (depreciable) expenditures such as equipment, building purchases on time payment †¢ (u) Other start-up costs-Expenses incurred prior to first month projection and paid for after startup (v) Reserve and/or escrow (specify)– Example: insurance, tax or equipment escrow to reduce impact of large periodic payments †¢ (w) Owner's withdrawals-Sho uld include payment for such things as owner's income tax, social security, health insurance, executive life insurance premiums, etc. †¢ 6. Total cash paid out (5a through 5w) †¢ 7. Cash position (end on month) (4 minus 6)-Enter this amount in (1) Cash on hand following monthEssential operating data (non-cash flow information)-This is basic information necessary for proper planning and for proper cash flow projection.Also with this data, the cash flow can be evolved and shown in the above form. †¢ A. Sales volume (dollars)–This is a very important figure and should be estimated carefully, taking into account size of facility and employee output as well as realistic †¢ †¢ †¢ †¢ †¢ anticipated sales (actual sales, not orders received). B. Accounts receivable (end of month)-Previous unpaid credit sales plus current month's credit sales, less amounts received current month (deduct â€Å"C† below) C.Bad debt (end on month)– Bad debts should be subtracted from (B) in the month anticipated D. Inventory on hand (end on month)– Last month's inventory plus merchandise received and/or manufactured current month minus amount sold current month E. Accounts payable (end of month) Previous month's payable plus current month's payable minus amount paid during month. F. Depreciation-Established by your accountant, or value of all your equipment divided by useful life (in months) as allowed by Internal Revenue Service Developing Financial Projections PUBLIC COMPANY MANAGEMENT SERVICES WHITE PAPER Developing Financial Projections for NonFinance People This White Paper gives you the tools to answer the two most important questions any business must ask: â€Å"Are you financially prepared to begin? Are we able to sustain ourselves? † You’ll learn: †¢ What’s on financial statements and how they get there †¢ How to develop and understand income statements †¢ How to set up and read balance sheets †¢ How to use common formulas to evaluate cash flow †¢ How to create a budget using standard guidelines †¢ How to read and evaluate income projections †¢How to develop your own financial projections through a â€Å"fill in the blanks† approach† †¢ How to accurately determine the value of your idea or business This memorandum is provided by Public Company Management Services for educational purposes only and is not intended and should not be construed as legal advice. 200 4  © Public Company Management Services 5770 El Camino Road. Las Vegas, NV 89118 Phone: (702) 222-9076 http://www. pubcowhitepapers. com http://www. pcms-team. com http://www. foreigncompanylisting. com http://www. gopublictoday. com A Budget and Financial Worksheet OverviewManagers must ask, ‘is the business financially prepared to begin/continue’? Understanding basic budgeting guidelines, income projection statements, balance sheets and common formulas to evaluate cash flow help ensure successful operations. This financial knowledge significantly impacts a company’s short term and long term success. START-UP BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel (costs prior to opening) legal/professional fees occupancy licenses/permits equipment insurance supplies advertising/promotions salaries/wages accounting income utilities payroll expensesAn operating budget is prepared when you are actu ally ready to open for business. The operating budget will reflect your priorities in terms of how you spend your money, the expenses you will incur and how you will meet those expenses (income). Your operating budget also should include money to cover the first three to six months of operation. It should allow for the following expenses. OPERATING BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel insurance rent depreciation loan payments advertising/promotions legal/accounting miscellaneous expenses supplies payroll expenses Developing Projections www. publiccompanywhitepapers. om 14001 May 20,2003 †¢ †¢ †¢ †¢ †¢ salaries/wages utilities dues/subscriptions/fees taxes repairs/maintenance Other questions that you will need to consider are: †¢ What type of accounting system will your use? Is it a single entry or dual entry system? †¢ What are your sales and profit goals for the coming year? If a franchis e, will the franchisor set your sales and profit goals? Or, will he or she expect you to reach and retain a certain sales level and profit margin? †¢ What financial projections will you need to include in your business plan? †¢ What kind of inventory control system will you use?Sample balance sheets, income projections (profit and loss statements) and cash flow statements are included below along with detailed instructions for completing same. INCOME PROJECTION STATEMENT †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Total net sales (revenues) Costs of sales Gross profit Gross profit margin Controllable expenses Salaries/wages Payroll expenses Legal/accounting Advertising Automobile Office supplies Dues/Subscriptions Utilities Miscellaneous Total controllable expenses Fixed expenses Rent Depreciation Utilities Insurance License/pe rmits Loan payments Miscellaneous †¢ Total fixed expenses Total expenses Net profit (loss) before taxes Taxes †¢ Net profit (loss) after taxes INSTRUCTIONS FOR INCOME PROJECTIONS STATEMENT The income projections (profit and loss) statement is valuable as both a planning tool and a key management tool to help control business operations. It enables you to develop a preview of the amount of income generated each month and for the business year, based on reasonable predictions of monthly levels of sales, costs and expenses. As monthly or quarterly projections are developed and entered into the income projections statement, they can serve as definite goals for controlling the business operation.As actual operating results become known each month, they should be recorded for comparison with the monthly projections. A completed income statement allows you to compare actual figures with projections and to take steps to correct any problems. Industry Percentage In the industry per centage column, enter the percentages of total sales (revenues) that are standard for your industry, which are derived by dividing Costs/expenses items x 100% These percentages can be obtained from various sources, such as trade associations, accountants or banks.Industry figures serve as a useful bench mark against which to compare cost and expense estimates that you develop for your firm. Compare the figures in the industry percentage column to those in the annual percentage column. Total Net Sales (Revenues) Determine the total number of units of consulting service you realistically expect to sell each period (per month or quarter) in each area of your business at the prices you expect to get. Use this step to create the projections to review your pricing practices. †¢ Exclude any revenue that is not strictly related to the business. Cost of SalesThe key to calculating your cost of sales is that you do not overlook any costs that you have incurred. Calculate cost of sales of all services used to determine total net sales. Do not overlook transportation or travel costs if you’re working at a distance. Also include all direct labor. Gross Profit Subtract the total cost of sales from the total net sales to obtain gross profit. Gross Profit Margin The gross profit is expressed as a percentage of total sales (revenues). It is calculated by dividing gross profits by total net sales Controllable (also known as Variable) Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Salary expenses-Base pay plus overtime.Payroll expenses-Include paid vacations, sick leave, health insurance, unemployment insurance and social security taxes – may or may not be applicable. Outside services-Include costs of subcontracts, overflow work and special or one-time services. Supplies-Services and items purchased for use in the business. Repair and maintenance-Regular maintenance and repair. Advertising-Include desired sales volume and classified d irectory advertising expenses. Car delivery and travel-Include charges if personal car is used in business, including parking, tools, buying trips, etc. Accounting and legal-Outside professional services.Fixed Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ Rent-List only real estate used in business. Depreciation-Amortization of capital assets like computers. Utilities-Water, heat, light, etc. Insurance-Fire or liability on property or products. Include workers' compensation. Loan repayments-Interest on outstanding loans. Miscellaneous-Unspecified; small expenditures without separate accounts. Net Profit (loss) (before taxes) †¢ Subtract total expenses from gross profit. †¢ Taxes – Include inventory and sales tax, excise tax, real estate tax, etc. Net Profit (loss) (after taxes) †¢ Subtract taxes from net profit (before taxes) Annual Total – For each of the sales and expense items in your income projection statement, add all the monthly or quarterly figures across the table and put the result in the annual total column. Annual Percentage †¢ Calculate the annual percentage by dividing Annual total x 100% Sample BALANCE SHEET Assets Current assets Cash $_______ Petty cash $_______ Accounts receivable $_______ Inventory $_______ Short-term investment $_______ Prepaid expenses $_______ Long-term investment $_______ Fixed assets Land $_______ Buildings $_______ Improvements $_______ Equipment $_______ Furniture $_______ Automobile/vehicles $_______Other assets †¢ †¢ †¢ †¢ 1. $_______ 2. $_______ 3. $_______ 4. $_______ †¢ Total assets $______ Liabilities Current Liabilities Accounts payable $______ Notes payable $______ Interest payable $______ Taxes payable Federal income tax $______ State income tax $______ Self-employment tax $______ Sales tax (SBE) $______ Property tax $______ Payroll accrual $______ Long-term liabilities Notes payable $______ Total liabilities $______ Net worth (owner equity) $______ Proprietorship or Partnership (name's) equity $_____ (name's) equity $_____ or †¢ Corporation Capital stock $_____ Surplus paid in $_____ Retained earnings $_____Total net worth $_____ †¢ Total liabilities and †¢ total net worth $_____ (Total assets will always equal total liabilities and total net worth) _______________________________________________ INSTRUCTIONS FOR BALANCE SHEET Figures used to compile the balance sheet are taken from the previous and current balance sheet as well as the current income statement. The income statement is usually attached to the balance sheet. The following text covers the essential elements of the balance sheet. At the top of the page fill in the legal name of the business, the type of statement and the day, month and year. AssetsList anything of value that is owned or legally due the business. Total assets include all net values. These are the amounts derived when you subtract depreciation and amortization from th e original costs of acquiring the assets. Current Assets †¢ †¢ †¢ †¢ †¢ †¢ Cash-List cash and resources that can be converted into cash within 12 months of the date of the balance sheet (or during one established cycle of operation). Include money on hand and demand deposits in the bank, e. g. , checking accounts and regular savings accounts. Petty cash-If your business has a fund for small miscellaneous expenditures, include the total here.Accounts receivable-The amounts due from customers in payment for merchandise or services. Inventory-Includes raw materials on hand, work in progress and all finished goods, either manufactured or purchased for resale. Short-term investments-Also called temporary investments or marketable securities, these include interest- or dividend-yielding holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market valu e, whichever is less. Prepaid expenses-Goods, benefits or services a business buys or rents in advance.Examples are office supplies, insurance protection and floor space. Long-term Investments Also called long-term assets, these are holdings the business intends to keep for at least a year and that typically yield interest or dividends. Included are stocks, bonds and savings accounts earmarked for special purposes. Fixed Assets Also called plant and equipment. Includes all resources a business owns or acquires for use in operations and not intended for resale. Fixed assets may be leased. Depending on the leasing arrangements, both the value and the liability of the leased property may need to be listed on the balance sheet. Land-List original purchase price without allowances for market value. †¢ Buildings †¢ Improvements †¢ Equipment †¢ Furniture an Computers †¢ Automobile/vehicles Liabilities Current Liabilities List all debts, monetary obligations and cla ims payable within 12 months or within one cycle of operation. Typically they include the following: †¢ Accounts payable-Amounts owed to suppliers for goods and services purchased in connection with business operations. †¢ Notes payable-The balance of principal due to pay off short-term debt for borrowed funds. Also includes the current amount due of total balance on notes whose terms exceed 12 months. Interest payable-Any accrued fees due for use of both short- and long-term borrowed capital and credit extended to the business. †¢ Taxes payable-Amounts estimated by an accountant to have been incurred during the accounting period. †¢ Payroll accrual-Salaries and wages currently owed. Long-term Liabilities Notes payable-List notes, contract payments or mortgage payments due over a period exceeding 12 months or one cycle of operation. They are listed by outstanding balance less the current position due. Net worth Also called owner's equity, net worth is the claim o f the owner(s) on the assets of the business.In a proprietorship or partnership, equity is each owner's original investment plus any earnings after withdrawals. Total Liabilities and Net Worth The sum of these two amounts must always match that for total assets. __________________________________________________ MONTHLY CASH FLOW PROJECTION 1. Cash on hand (beginning month) 2. Cash receipts †¢ †¢ †¢ †¢ †¢ (a) Cash sales (b) Collections from credit accounts (c) Loan or other cash injections (specify) 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (Before cash out) (1+3) 5. Cash paid out †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ a) purchases (merchandise) (b) Gross wages (excludes withdrawals) (c) Payroll expenses (taxes, etc. ) (d) Outside services (e) Supplies (office and operating) (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (i) Accounting and legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc. ) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) Subtotal (s) Loan principal payment †¢ †¢ †¢ †¢ †¢ †¢ (t) Capital purchases (specify) (u) Other start-up costs (v) Reserve and/or escrow (specify) (w) Owner's withdrawal 6. Total cash paid out (5a through 5w) . Cash position (end of month) (4 minus 6) †¢ †¢ Essential operating data (non-cash flow information) †¢ A. Sales volume (dollars) †¢ B. Accounts receivable †¢ (end on month) †¢ C. Bad debt (end of †¢ month) †¢ D. Inventory on hand (end †¢ of month) †¢ E. Accounts payable (end †¢ of month) INSTRUCTIONS FOR MONTHLY CASH FLOW PROJECTION †¢ †¢ †¢ †¢ †¢ †¢ 1. Cash on hand (beginning of month) — Cash on hand same as (7), Cash position, pervious month 2. Cash receipts†¢ (a) Cash sales-All cash sales. Omit credit sales unless cash is actually received †¢ (b) Gross wages (including withdrawals)-Amount to be expected from all accounts. (c) Loan or other cash injection-Indicate here all cash injections not shown in 2(a) or 2(b) above. 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (before cash out)(1+3) 5. Cash paid out †¢ (a) Purchases (merchandise)–Merchandise for resale or for use in product (paid for in current month). †¢ (b) Gross wages (including withdrawals)-Base pay plus overtime (if any) †¢ (c) Payroll expenses (taxes, etc. )– Include paid vacations, paid sick leave, health insurance, unemployment insurance, (this might be 10 to 45% of 5(b)) †¢ (d) Outside services-This could include outside labor and/or material for pecialized or overflow work, including subcontracting †¢ (e) Supplies (office and operating)–Items purchased for use in the bu siness (not for resale) †¢ (f) Repairs and maintenance-Include periodic large expenditures such as painting or decorating †¢ (g) Advertising-This amount should be adequate to maintain sales volume †¢ (h) Car, delivery and travel-If personal car is used, charge in this column, include parking †¢ (i) Accounting and legal-Outside services, including, for example, bookkeeping †¢ (j) Rent-Real estate only (See 5(p) for other rentals) †¢ (k) Telephone †¢ (l) Utilities-Water, heat, light and/or power (m) Insurance-Coverage on business property and products (fire, liability); also worker's compensation, fidelity, etc. Exclude executive life (include in 5(w)) †¢ (n) Taxes (real estate, etc. )– Plus inventory tax, sales tax, excise tax, if applicable †¢ (o) Interest-Remember to add interest on loan as it is injected (See 2 © above) †¢ (p) Other expenses (specify each) _________________________________________ _________________________ ____________ Unexpected expenditures may be included here as a safety factor________________________________________ Equipment expenses during the month should be included ere (non-capital equipment)__________________________ When equipment is rented or leased, record payments here †¢ (q) Miscellaneous (unspecified)–Small expenditures for which separate accounts would be practical †¢ (r) Subtotal-This subtotal indicates cash out for op †¢ (s) Loan principal payment-Include payment on all loans, including vehicle and equipment purchases on time payment †¢ (t) Capital purchases (specify)–Nonexpensed (depreciable) expenditures such as equipment, building purchases on time payment †¢ (u) Other start-up costs-Expenses incurred prior to first month projection and paid for after startup (v) Reserve and/or escrow (specify)– Example: insurance, tax or equipment escrow to reduce impact of large periodic payments †¢ (w) Owner's withdrawals-Sho uld include payment for such things as owner's income tax, social security, health insurance, executive life insurance premiums, etc. †¢ 6. Total cash paid out (5a through 5w) †¢ 7. Cash position (end on month) (4 minus 6)-Enter this amount in (1) Cash on hand following monthEssential operating data (non-cash flow information)-This is basic information necessary for proper planning and for proper cash flow projection.Also with this data, the cash flow can be evolved and shown in the above form. †¢ A. Sales volume (dollars)–This is a very important figure and should be estimated carefully, taking into account size of facility and employee output as well as realistic †¢ †¢ †¢ †¢ †¢ anticipated sales (actual sales, not orders received). B. Accounts receivable (end of month)-Previous unpaid credit sales plus current month's credit sales, less amounts received current month (deduct â€Å"C† below) C.Bad debt (end on month)– Bad debts should be subtracted from (B) in the month anticipated D. Inventory on hand (end on month)– Last month's inventory plus merchandise received and/or manufactured current month minus amount sold current month E. Accounts payable (end of month) Previous month's payable plus current month's payable minus amount paid during month. F. Depreciation-Established by your accountant, or value of all your equipment divided by useful life (in months) as allowed by Internal Revenue Service