Supply Chain Management Essay Example | Topics and Well Written Essays - 2750 words

Supply Chain Management - Essay Example Thus, supply network necessitates several levels of integration with the first being the integration of separate components in organizational structures to create individual networks and secondly, integrating the networks. The first level integration results in manufacturing and distribution networks, because individual networks link to a central warehouse that receives stocks from plants when products are manufactured and distributes them to customers through field warehouses. Thus, two networks with the possible routes for manufacturing and distribution form the supply chain network that involve planning, execution and control of components. Managing flow time is crucial in providing effective customer service in the supply chain; therefore, integration is the basis of supply chain management strategy  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Development of efficient MPC system is crucial to the success of all companies that produce goods; since it coordi nates supply chain efforts across company boundaries (Jacobs 1). Inventory is a valuable asset in companies; however, benchmark results indicate that most organizations fail to manage inventory efficiently. Many manufacturers and distributors depend on overly localized inventory policies; thus, companies tie working capital which can result in hurting shareholders. Properly managed inventory acts as a lifeline for supply chain since it propels revenue and competence in companies. In IBM, supply chain inventory practices involve managing flow and positioning of inventory across different stages within the supply chain even in suppliers and downstream partners. The company adopts the opportunity of combining proven supply chain inventory practices, which reduce inventory levels across the organization while improving service levels as well as productivity. The company is does not push back inventory to its suppliers; however, IBM helps its suppliers to reduce their inventory.  Ã‚  Ã ‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rather than monitor and manage inventory at local level, IBM is increasingly adopting supply chain-wide inventory practices. Companies attempt to decrease amount of inventory in their supply chain management, which in turn reduces inventory carrying costs. The company aims at being responsive and reliable to customers, since it is crucial for the company to increase service levels without increasing inventory investment. Since inventory necessary to attain service levels relates to lead time, reducing lead time as well as supply chain unpredictability is crucial to the company. Moreover, IBM aims at improving financial performance, because it is crucial for the company inventory management success to maximize profit contribution and net margin; thus, reducing distribution and manufacturing costs is essential. In some cases the company institutes lean processes for low inventory; however, it is not too low to drain fina ncial performance of the company, which increases manufacturing re-scheduling and lost sales from uncompetitive flow times. Best companies attain high improvement rate from better inventory management practices, which are augmented when they apply technology to practices like supplier collaboration technology. IBM

The Importance of Ethics to Sustainable Growth in Engineering Research Paper - 1

The Importance of Ethics to Sustainable Growth in Engineering Enterprise - Research Paper Example Findings reveal that China’s rules and regulations related to ethical standards are not implemented strictly but it has given more importance to CSR programmes. UK on the other hand has ignored CSR programmes but is successful in incorporating various employee training programmes. While UK companies apply technology to monitor whether ethics are practised in the workplace, Chinese companies use compliance programmes. Theft of asset is a serious problem in UK while the problem of deficiency of stringent laws causes lack of ethical practices in workplace. Chief CSR officer is given the responsibility of making profit making decisions and monitoring ethical standards. The green officer along with board members takes the authoritative decisions in the company. Employees both in UK and China want ethical code of conducts in the office. However, Chinese employees believe that small firms are unable to properly implement ethics in the workplace. According to Daft (2012), data analysis is a process of evaluating the study on the basis of findings and literature review. The project is primarily based on secondary data accompanied by the interview conducted on six Chinese Engineering Companies. The secondary data is collected from journals and books of eminent authors. The primary data in the form of questionnaire survey aims at providing knowledge regarding the existing conditions of the company’s policies and the perspectives of the employees about ethical standards. Since work culture in UK represents the work environment in western companies and China represents eastern work culture, wide contrasts are noted in the study. It has been observed in the UK that titles like â€Å"chartered engineer†, â€Å"engineering technicians†, â€Å"information and communications technology technicians† and â€Å"incorporated engineer† are granted by the Engineering Council UK (Basart, Farrà ºs and Serra, 2015). The incorporated engineers of UK are

Brown vs. Board Of Education :: Teaching Education

Brown vs. Board Of Education As the Civil War ended and Slavery did, too, the question of African American’s freedom did not. African Americans had been given their freedom from slavery but not their freedom from segregation. In 1896 after the Plessy vs. Ferguson court case, the Supreme Court found that segregation, â€Å"separate but equal†, in public facilities was not against the Constitution. â€Å"Separate schools for blacks and whites became a basic rule in southern society.† All that was about to change. In Topeka, Kansas there was a little girl by the name of Linda Brown. She had to be driven five and a half miles to a black school when she lived four blocks from a public school. â€Å"The school was not full and she met all of the requirements to attend – all but one that is. Linda Brown was black. And blacks weren’t allowed to go to white children’s schools.† That was a controversial issue among blacks. In 1954 thirteen parents filed a class action suit against the Board of Education of Topeka in hope for equal education opportunities for their children. That and the desegregation period was the idea behind the case. It was the first challenge of the â€Å"separate but equal† ruling had been challenged. The thirteen parents were backed by many African American community leaders, the NAACP, and the NAACP’s lawyer Thurgood Marshall. However, against them were pretty much the whole south, many elected officials of Congress, and the Governor of Alabama - George Wallace. On May 7, 1954, the Supreme Court unanimously ruled against segregation and was unconstitutional because it violated the fourteenth amendment by separating them because of the color of their skin. The decision a victory proved of significant importance. Few blacks and eventually many started attending non-segregated public schools. It proved to be Thurgood Marshall’s greatest victory and in 1967 he was appointed as the first black member of the Supreme Court.

Relationship between Development and Democracy

The rapid political transformation that exemplified the last decade of the past century in various countries of the world encouraged a renewed interest in the relationship between development and democracy (Doorenspleet, 2002, p. 55). The argument in the 1960s had been that democracy was positively interrelated to the level of modernization, and then viewed as the equivalence of development. The two succeeding decades were much more cautious about any such relationship. It was only the turbulent years following the fall of communism and the attempts to move away from dictatorial modes of rule that encouraged comparative politics students to revisit the development – democracy nexus (Chan, 2002, p. 89).The students of Latin American politics had already started to respond to reform efforts embarked on in their region in the early 1980s. It was in the 1990s that issues of democratization reentered the mainstream of comparative politics. The re-orientation in the field of compara tive politics has already resulted in a wide range of publications.Mapping the Major ApproachesDevelopment and democracy are both very complicated concepts as they tend to mean different things to different people. For example, conceptions of development have varied over time in the last five decades from being the equivalence of modernization to being concerned with overcoming social inequities and on to providing opportunities for individuals in the marketplace and institutional improvements in the name of good governance. The definition of democracy has been the subject of much debate as to whether it should be a minimalist concept useful for analytical functions (Doorenspleet, 2002, p. 57).I suggest that it may be helpful to follow a distinction along 2 axes. The first is methodological and epistemological where the two endpoints are agency and structure. The second is substantive in nature which differentiates between a focus on elite or mass level. The structuralist approaches typically adopt a historical standpoint in explaining the success or failure of democratization.The development and democracy also varies in terms of its focus on elites or the mass of the population. Those who are concerned with providing prescriptive advice tend to be focusing on the privileged because they are the ones directly concerned with making policy. Political scientists have amassed enough knowledge about democratization process that we can tell the political elite what traps to keep away from and what opportunities to take hold of. This remains the ultimate goal of political science as most people in the discipline are likely to adopt a more humble position, realizing that our knowledge of democratization is still very general and fragmented (Chan, 2002, p. 144).The University of Michigan administered a survey which has contributed to an understanding of how human values and preferences shift in response to changes in material circumstances. Associations also count in t his type of political studies. The long term positive outcome comes from people working together in small scale groups.Structuralist studiesStructuralist studies have evolved over the past 40 years and it has been proved that this is a fruitful area of research. Three issues have crystallized as being of special interest:(1)  Ã‚   Does location in the global economic order matter?(2)  Ã‚   Does class or social structure matter? and(3)  Ã‚   Do value changes caused by structural factors matter?I shall discuss these issues in turn before focusing on some of the methodological challenges associated with this approach.Location in the global economic orderStudies in this area have a long pedigree with many other well-known political sociologists and political economists having made contributions. The original finding was that the more prosperous a nation, the greater the chances that it will maintain democracy (Doorenspleet, 2002, p. 68). It was not the location in the global econo mic order that was important, but the ability of a country to adopt the structural and cultural features associated with modern society, i.e. an urbanized and educated population as well as an industrialized economy.Using the regression type of statistical analysis, scholars have demonstrated that level of economic development consistently appears as a statistically and substantively significant influence on democracy (Haggard, 2003). The level of economic development alone accounts for more variance in democracy than all other independent variables taken altogether. Therefore, some students of development and democracy are ready to treat it as such a strong correlation that it must not to be in question.Even if it is a vigorous relationship, it raises questions about what in that association really matters, and what kind of conclusions to draw there from. The thing which matters is at least in part determined by how the dependent and independent variables are specified. It has been found that while being well-to-do matters at the level of cross national comparison; it is not necessarily the economic but the social factors, such as education literacy that are the more powerful explanatory variables (Chan, 2002, p. 123).Few scholars have questioned whether it is the rate of economic growth or the level of economic development that is more important. The prospects to become democratic countries are rather dim, not because most Third World nations have low average per capita incomes, but because the economic development is not fast enough or the rate of growth is slow. The potential importance of location in the global economic order is also a very significant variable. Economic development has a differential impact and it matters most in the industrialized countries, only half as much in the semi peripheral countries, and even less so for countries in the periphery (Haggard, 2003).Studies have also established a positive correlation between key variables but the y do not necessarily rein in everything that matters in the development – democracy equation. One may assume that the economic development matters the most in the core or the industrialized countries because it has been present there for a longer time period. It is not only the domestic environment of the countries in the periphery that counts but also their exterior environment. One of the gaps that need to be filled in the research on development and democracy is clearly what difference globalization makes. The relationship between globalization, socio-economic development and democracy is of prime importance (Doorenspleet, 2002, p. 52).Economic crises and other performance problems in the non democratic regimes help promote a democratic transition. Using data for approximately 100 Third World nations with populations of at least one-million, it was proved that inflationary crises tended to inhibit democratization in 1950s and 1960s but seem to have facilitated the same pro cess in the late 1980s. Another proposition is that there is no relationship between per capita income level and the probability of democratic transition contrary to what was indicated earlier. One such reason may be growing international pressure to democratize (Johansson, 2002, p. 23).The Role of Class StructureThis type of study is useful for focusing on wide systematic causal processes that hold across space and time, but needs to be complemented by those that include more characteristic explanations that hold at certain times or in certain regions only (Chan, 2002, p. 24). The analysis of specific historical events or processes is often an unavoidable complement to statistical techniques, especially if the objective of the research is to concentrate on the occurrence of discrete events within their historical context.The capitalist economic development creates growing pressure for democratization by fostering the emergence of a middle-class has been very broadly accepted: †˜without a bourgeoisie, no democracy'. This sets the broader parameters for the development of democracy by liberalizing economic market forces and thereby, also individualizing both behaviors and choices. Comparing Germany and Japan, which adopted a fascist approach to rule, with the UK and USA, which chose a democratic path, the class is an extremely vital factor. The middle class or the bourgeoisie enjoys a degree of self-sufficiency by being able to shape the course of political development in any direction. It is not expected that the middle-class will choose a democratic path over a non democratic one. It all depends on how they manage the challenges that structural factors present in the economy (Doorenspleet, 2002, p. 53).With economic liberalization being pushed around the world, one can hypothesize that class may grow in significance. Deeper social inequalities are reported from all regions of the world and Livelihoods are being threatened, quality of life is going down f or a bulk of people, more specifically in the Third World countries. The most immediate issue is how to make the concept of class operational. There is no universal accord about how that should be done. It is not easy at this point to arrive at any solid conclusions about the relationship between the class and the prospect of transition to democracy. In a first attempt to do so, it was found that class structure does not have an impact on the likelihood that a nation makes a transition to democracy (Chan, 2002, p. 67).It is a path breaking study that points to the need for many more studies in this area and the surveys that try to measure people's subjective perception of class. Survey data are available for industrialized nations but are yet to be collected in developing countries. Such data would significantly improve our ability to say something about the relationship between class and the probability of transition to democracy.Value ChangesChanges in the economy do not only crea te new forms of social stratification as they also influence our cultural values. Modernization and value change is the subject of several important studies in the field of comparative politics. Subjective aspirations reflect the nature of objective conditions, a point that is associated traditionally with Marxism but is also reflected in psychological theories (Doorenspleet, 2002, p. 58). The strengthening of human striving for self expression that follows from enlarging people's cognitive and physical resources (modernization) reduces constraints on the level of formal rules by generating negative and positive freedom rights (democratization). Using data from 63 societies, it was found that:(1)  Ã‚   Democratization originates in aspiration adjustments on individual level,(2)  Ã‚   Democracy does not flow directly from economic changes but through shifts in ethical values,(3)  Ã‚   This sequence has cross cultural validity, and,(4)  Ã‚   The sequence holds against rival in fluences, the transnational infusion of changes in traditionally connected societies.More research is needed to ascertain whether these findings hold if other data sets are used, the notion that democratization in a given society is the result of both ethical and material changes is important. It is suggested that the dynamics of social change is driven more by internal than external factors. We do not specifically address this issue here, but it is one that should be considered in the light of amplified global communications (Haggard, 2003).Methodological IssuesOne of the problems with research on democracy and development is that scholars using quantitative methods tend to ignore those using qualitative methods, and vice versa. The latter tend to use thick concepts which are applied to a very small number of cases, whereas the former tend to rely on thin concepts that are applied to a large number of cases. Due to the lack of dialogue between these two researcher groups, the task of knowing more about causal relations has been stifled.The assumption being that qualitative researchers play a key role in opening up novel areas of inquiry, while the quantitatively oriented can determine the extent to which findings can be generalized. In short, the study of development and democracy requires both approaches since both of them are complementary to each other (Johansson, 2002, p. 23).There are many troubles with the existing state of knowledge in this field that stem from methodological inadequacies. The first concern is the quality of the data available. There has been a heavy reliance on the Freedom House Index (FHI) of Civil Liberties and Political Rights. With few other data sets available, it is quite understandable that many researchers have found the FHI handy.There are at least two problems with that Index. The first is that it relies on the evaluative input of a panel of experts rather than primary data collected in survey form. The scores in the Index, while not entirely invalid, nonetheless suffer from lack of representativeness of opinions in individual nations (Johansson, 2002, p. 213). The second problem is that the cumulative scores provided for each indicator and country tends to be rather rough. This lack of differentiation is also obvious in many studies that use other data.Most researchers have to settle for a sub-optimal choice, because it is extremely difficult to identify a singular manifestation. Reliability refers to the prospect that the same data collection process would produce the same data. Duplication prevails whenever other scholars are able to reproduce the process through which data were generated.Structured contingencyIf the structuralist concern with the pre-requisites of democracy constitutes the first generation of studies on democratization, a distinct second generation has emerged in the past two decades that is more process oriented and focused on contingent choice. This innovative approach incorporat es institutional factors as explanatory variables (Haggard, 2003). Democratization is understood as a historical process with analytically distinct, if empirically overlapping, stages of consolidation and transition. A variety of actors with different followings, calculations, preferences, resources and time horizons come to the fore during these successive stages.These stages vary in terms of degree of uncertainty prevailing at each point. During regime transitions, interactions, and political calculations are highly uncertain, actors find it hard to know what their interests are, who their supporters are, and which groups will be their allies or opponents. The absence of predictable rules of the game during a regime transition expands the boundaries of contingent choice (Johansson, 2002, p. 88). A government is being consolidated whenever contending groups come to accept some set of rules, formal or informal, about who gets what, when and how from politics.Power-sharing arrangemen tsDemocratization often runs into grave difficulties because societies are divided vertically rather than horizontally. Resource conflicts are not interpreted in straight-forward social class terms but take on meaning only in the context of identity politics. Whether ethnicity, race or religion constitutes the line along which cleavages are defined, they pose a special problem for democratizing countries specifically because the issue of inclusion in regime is conflated with inclusion in the community. Strategic choices are socially or culturally embedded to such an amount that it becomes difficult to produce governance agreements that satisfy all parties to the conflict (Johansson, 2002, p. 56).The problems of exclusion and inclusion do not fade away when new institutions are being adopted and put into operation. Democratization itself may aggravate such problems precisely because it brings elements of openness and competition into the political progression. Conceptions of the scop e of the political community become more prominent as people interact with each other in the public realm and have to make choices about who is an insider and who is an outsider. One of the ironies of democratization is that, as the future is being planned, the past intrudes with escalating severity. There is no such thing as a fresh start in culturally plural societies; differences in historical depth are likely to matter.For example, where the notion of first-comers is deeply rooted, claims of political priority by virtue of indigenousness are typically made to confront those deemed to be immigrants (Haggard, 2003). Europe and Asia are particularly full of such claims. Sri Lankan Tamils really belong to South India. Chinese in Indonesia and Malaysia are immigrants and Bengalis are illegally in Assam. The Balkans, the Baltic and the Caucasus regions of the former USSR are other examples of places where such claims are being made. They are particularly hard to resolve because they a re frequently embedded in religious differences that reinforce the ethnic dimension and have a long history.Electoral modalitiesIn the 1990s, larger attention was paid to how different electoral rules may help promote inclusiveness. Such rules are the most specific manipulative instrument of politics. Africans realized this point at independence and many leaders proceeded to promote inclusiveness within a democratically designed single party system. Although the principle of competitive elections within a single party system was an interesting innovation, practical experience soon showed that sustaining the democratic element in such system became very hard (Chan, 2002, p. 345).Most of the conversation on what difference electoral systems or modalities make has focused on the comparative advantages of proportional representation and majority systems. The combination of parliamentary system with a proportional system of representation as the constitutional arrangement most likely to serve racially divided societies well. It is only in industrialist societies with a more dispersed population that proportional representation (PR) has the intended effects of enhancing the distribution of power among elites. Another study of electoral systems in southern Africa maintains that a mixed member proportional system (MMP), as used in Germany and New Zealand, may prove to be particularly relevant in countries such as South Africa where forms of power sharing have been considered vital to a successful democratic transition (Haggard, 2003).Legal SystemsOne of the more dominant arguments for the link between liberal democracy and capitalism rests on the premise that with the rise of a private property regime, the estate of the landlord is fully severed from the state, thus consolidating the separation between public and private spheres of power. Capitalist economic rule is no longer legitimated politically by reference to the performance of communal functions. Private power is stabilized to the extent that democratic principles of rule are successfully insulated within a public domain (Johansson, 2002, p. 98). This emphasis on human rights has also brought a renewed importance to concepts such as rule of law and by implication to the role of legal systems in democratization.Civil SocietyCivil society is a bothersome concept. It refers to all voluntary associations that have been created to mediate relations between the state and the family household. This excludes productive enterprises since their purpose is not to associate individuals to the state. Most students of civil society take a functional view of the society counting in all associations regardless of their normative stand on the democracy issue. Many nations that are attempting to consolidate democracy suffer from what is sometimes referred to as a civic deficit. This entails that society is short of the values that really help build democracy.This deficit often stems from disenchantment wit h the political leadership. The new democratic regime proves ineffective in various ways, such as not being able to curb corruption or to deliver tangible policy results. Once the transition from dictatorial rule has been made, it is more difficult to mobilize popular support for the measures that are necessary to keep the democratic process on the track. The civil society is most effective in the initial phase of the transition. It tends to lose its implication in the political process as it moves from transition to consolidation (Chan, 2002, p. 266).Social movements clearly energize civil society. They often lead major political transitions, but they also contribute to keeping civil society healthy at other times. Without such movements, the impact of civil society on democracy would be much less significant. Without implying that social movements always work for a civic or democratic cause (Johansson, 2002, p. 143). It seems a feasible proposition to state that a democratic chang e without the backing of a social movement is less likely to achieve something than one with such backing.ConclusionTo conclude, it may be worth making a few general observations on the studies of development and democracy. The first is that the difference between qualitative and quantitative studies is often exaggerated. There are substantive differences between the two, but they lie not in the criteria used to create and rationalize a particular research design but in the manner in which the former is executed (Haggard, 2003). It is primarily in the execution of research that quantitative statistical analyzes come to differ from qualitative forms of study. When it comes to designing research, considerable qualitative reasoning goes into designing quantitative studies.When choosing the unit of analysis, indicators for measurement and set of cases, qualitative criteria are being used to justify the design. The qualitative reasoning enters into the design in at least two ways: first, by differentiating between Europe and Latin America and the second, by bringing in the concept of stability, which does not even feature in the conceptual definition of democracy (Chan, 2002, p. 67). We should be alert to the fact that the distinction between qualitative and quantitative forms of reasoning is more blurred than many scholars would have us believe.The second observation is that the relationships between variables are not always linear in a causal sense. The study of the development – democracy nexus provides ample of evidence that the relations are often interactive; development, or dimensions thereof, influences democracy but scope of democracy may also affect development. Modernists and Marxists tend to assume that political democracy is the outcome of underlying changes in the socio-economic or cultural spheres.Those who essentially believe in human agency would argue that institutions and choices can be made to shape developmental outcomes. Much of the cur rent debate in the international development community focuses on the independent effects that good governance is expected to have on various aspects of development (Haggard, 2003).The third and final observation concerns the propensity to treat findings as universal or to generalize without taking into consideration the potential influence of contextual variables. Much knowledge that is acquired on the issues relating to development and democracy are both time and context specific. Changing either temporal or spatial dimensions may have significant influence on the results.Generalizations that hold across national and regional boundaries are typically at a high level of aggregation. The challenge that we often face in our research is not only to disaggregate or deconstruct these concepts and variables but also to continue testing how far these general findings still hold at lower levels of aggregation.In sum, whichever way we turn in the research exercise, there are challenges just around the corner (Haggard, 2003). The contributors to this essay are highlighting many of these challenges, thereby providing a sense of what comparative politics have achieved so far and also what remains to be done.

The Principal Areas Of Judgment In Myers Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1728 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Myer is a large department stores in Australia. Its parent company is NB Flinders PTY Ltd which is the Australian parent company of the Myer group of companies. There was an economic recession in 2007 until 2009 as a result of subprime crisis. Don’t waste time! Our writers will create an original "The Principal Areas Of Judgment In Myers Finance Essay" essay for you Create order As a consequence of this it had impact on Myer performance as well. Myer group revenue decreased in 2008 and 2009 after Lehman Brother went bankrupt. Although, Myer has experience management team which manage quite well despite there were a decline in sales revenue in 2008 and 2009 ,but there were increase in net profit in 2008 and 2009 . In 2009 net profit rose by 10% from 93 million in 2008. Another evidence of good management is high inventory turnover which contribute to a true profit margin and high account receivable turnover. On the other hand, Myers utilizes high gearing to generate income but Myer has a good potential to pay back interest as interest coverage ratio were above 2 times and operating cash flow were positive in 2008 and 2009. Principal Areas The main principal is the basis of preparation of financial statements , principal of recognition ,revenue recognition, impairment of assets etc .Also, derivative and hedging policies are important as well. These policies are used to recognized revenue profit and loss in Myers financial statement which have an impact on Myers performance. Therefore, it is considered to be the principal areas of judgment. Myer had a good liquidity despite current ratio was just around 0.8 times since 2008 .This was because it had a high numbers of trade and other payable around 495,407 million in 2009 which increased from 489,387 in 2008. However, trade and other payable had no interest obligation which implied that the higher trade and other payable the better it was because Myer will have more cash flow due to less require working capital. Quick ratio also assess the deeper liquidity as it only included cash, market securities and account receivable but no inventory. This was due to inventor y can be a dead stock if inventory can not be sold. According to the quick ratio below 1 was no good. The quick ratio went up from 0.29 times in 2008 to 0.38 times in 2009. Low quick ratio as a result of high current liabilities , especially in trade and other payables. Solvency Debt to Equity measures how much Myer utilized gearing compare to its equity. It tells about the financial status of Myers. Usually the acceptable ratio is around 2 times, however in retail sectors can be allowed to 3-4 times as a result of high credit term from suppliers . In 2009 debt to equity ratio was 5.97 times which decreased from 7.85 times which was around 24 % as a result of higher retain earnings in total equity. Interest coverage is calculated by EBIT/Interest. It tells about the Myers potential to pay interest . The higher the better it is. There was increased in interest coverage ratio in 2009 as interest coverage rose from 1.65 in 2008 to 1.8 in 2009 and This was due to there were an increased in EBIT in 2009 while interest paid remained constant. Asset Utilization The big picture of asset utilization is how effective Myers use asset to generate income. Account Receivable Turnover measures how Myer can manage account receivable .It implies the credit term and cash cycle as the account receivable turnover should be less than account payable turnover ,because the Myer should receive a long credit term from supplier ,while give a shorter credit term to account receivable ,so Myer can have more cash flow as a result of lower working capital. Account receivable fluctuated from 2008 to 2009 . Despite there were a fluctuation but the account receivable turnover were so high .Therefore should not have a significant implication. Although, the average collection period days is the number of days that Myer receive payment from account receivable. There was a worsen in collection period from 4.06 days in 2008 to 5.11 days in 2009.A high account receivable turnover will result in a short collection period days ,where as a low account receivable turn over will result in a longer collection period days. On the other hand, an inventory turnover assess how Myer can manage inventory and sell products. It demonstrates how many times inventory is sold and replaced with new inventory. The higher inventory turn over the better it is for Myer. This is due to 2 main reasons First of all, high inventory contributes to high true profit margin especially in retails sectors such as Myers because most of businesses in retail sector have a small net profit margin while they need to have a large volume of sales. Therefore , the higher inventory turnover multiplied by net profit margin give a true profit margin for Myer. To demonstrate this. In 2009 Myer net profit margin was 3.7 times while an inventory turnover was 7.87 time .Hence, a true profit margin was 7.87 * 3.7 = 29 % not 3.64% as it appeared. Secondly, high inventory turnover enhances Myers cash flow and lower dead stock risks. There are risks associate with stock like dead sto ck when inventory can not be sold due to out of fashion or change in technology or cheaper substitute in the market. Myers inventory turnover remained constant around 8 times as cost of good sold rose more than inventory. Conversely, there was a slight decreased by 6.3% in 2009 as a result of economic recession. But Myer managed Inventory quite well as it was still high at range between 7 and 8% . Fixed Asset Turnover assess how Myer manage property plant and equipments to generate income. It fluctuated from 2008 to 2009. Although, assets turnover decreased as a result of a decline in sales revenue between 2008 and 2009, while property plant and equipments remained constant. As a consequence of this the ratio went down dramatically from 9.83 times in 2008 to 7.53 times in 2009 In addition it is a result of economic recession as well. Total Asset Turnover measures how effective Myer can manage all resources to generate income. Due to total assets consists of property plant a nd equipment as well. So, the ratio were much smaller than fixed asset turnover. However, the total asset turnover were 1.3 to 1.6 times implied that Myer could utilized total asset to generate income quite well. Income Statements Analysis Profitability The company performance is measured by profitability and net earnings. Therefore, the essential profitability ratio that give a big picture of Myer performance are Net Profit Margin, ROE, ROA, and Net Profit. To begin with net profit margin. There was an in increased in net profit margin in 2009 as a result of a rise in net profit by 10% in 2009 ,where as sales went down from 2.9 billion in 2008 to 2.8 billion in 2009 which enhanced net profit margin. Return on Equity assess how much Myer can use investors capital to generate returns. Usually ROE is correlated with net profit , if net profit increase it will enhance a higher ROE . However, a dramatic increased in retain earnings from 149 million in 2008 to 250 million in 2009 which grew up by 68% could have an impact on ROE .Therefore , ROE decreased from 45 % in 2008 to 36 % in 2009. To increase ROE Myer needs to have much net profit growth than retain earnings. Where a ROA assess how effective Myer can utilizes total ass ets to generate net profit. Ordinary ROA is lower than ROW due to assets consists of debt and equity. Despite, ROA was below 10% in 2009 but still acceptable and expect to recover when economic recover in second half of 2009 and beyond. There was an increase in net profit by 10% in 2009 as a result of decreased in cost of good sold in 2009 from 1.7 billion in 2008 to 1.6 billion in 2009. Should Myer be compared to another company? Myer should be compared with companies in the same industry. This is to measure Myers performance to an industry average Who are their main competitors? Myer is a large business , so should be compare with same size rival. This is like a heavy weight boxer. And it is David Jones a large department stores. How many years should trend analysis be done for? Trend analysis should be done not more than 5 years due to it is more accurate and precise. Beyond 5 years is too hard to predict unless the sales reach maturity stage and anticipate to grow at a rate of inflation. Also, marketing and investment plan can change dramatically. However, there are many investments and incidents can happen beyond 5 years. Therefore, it is appropriate to analyze for 5 years. To avoid errors beyond 5 years should assume sales and earnings growth at inflation rate. Short Overall Analysis Provide a short overall analysis for shareholders on whether they should maintain, increase or reduce their investment. Who are Myer? Myer Holdings Limited (MYR) is one of Australias largest department store groups targeting a wide spectrum of consumers. The company has a national network of 65 stores in Australia. Myer retails designer, national, and international fashion and apparel for men, women, and children, and operates a consumer loyalty program. The company focuses on its retail presence and execution, with a mix of house-brand and leased retail space areas. Products/services:Â   Myers offering comprises 600,000 products across 11 core product categories: womenwear, menswear, youth fashion, childrenswear, intimate apparel, beauty, fragrance and cosmetics, homewares, electrical goods, toys, fashion accessories and general merchandise. Myer is looking into further margin expansions and sales growth through specific strategies including opening 15 new stores in the next five years with 12 conditional agreements for lease already signed, rebuilding and refurbishing the Melbourne flagship store, contin uing to grow the MYER one loyalty program and roll-out a new point-of-sale system and introducing new product categories, brands and concepts to improve sales growth and margins. The company also installed a new Point-of-Sale system while it was being restructured under private-equity ownership. Myers growth strategy focuses on four areas: comparable store sales growth, new store expansion, gross margin improvement, and reduction of cost Who are they owned by? NB Flinders Pty Ltd is the Australian parent company of the Myer group of companies. Is there any current discussion on Myer in the media that might give some value to your analysis? Not at the moment. Recommendation From long term investment perspective, recommend to increase investment in Myer as expect Myer performance to recover and to grow in year 2010 and beyond when economic recover. Secondly, despite there was an economic recession in 2008 but Myer ROE and Inventory Turnover still high which are evidenced of Myers good management. Therefore, when economic recover and people purchasing power increase anticipate Myers earnings to boost .As a result of increase earnings Myers intrinsic value will increase and share price should reflect intrinsic value when there is an earnings surprise announcement.

Gun Control And Its Effect On The Country - 1310 Words

Eliot Spitzer, the fifty fourth governor of New York, once said, â€Å"Yes, people pull the trigger - but guns are the instrument of death. Gun control is necessary, and delay means more death and horror† (BrainyQuote, n.d.). Many people say that gun control will not affect violence rates in a country. Also, they say that if everyone has a gun, then that will stop mass massacres. The people who believe that gun control is not needed are wrong. This is because gun control has been proven to improve the safety of a country. For example, In Australia and Britain reduced violence caused by guns by putting strict gun control. In conclusion, gun control can affect the country because it will change safety standards of the country, since it saves lives, causes less gun related crimes, and the law supports gun control. More gun control can save the lives of people. Most people who suggest no gun control give many arguments to support their cause, but one of the most common is, Guns do n t kill people, people kill people. (Rolling Stone, 2015) There are many reasons why this statement is wrong. One reason is that this is not true because guns kill people no matter who pulls the trigger of the gun. Also, it doesn t matter how much hate is in the man who pulls the trigger, like in a mass shooting, the absolute amount of damage a gun can do in a span of five to ten minutes is tremendous, thus giving the reason to limit the type of guns that one get obtain. (Rolling Stone,Show MoreRelatedEssay on Guns Dont Kill People, Criminals Kill People1187 Words   |  5 Pages Gun control is a leading concern in America today. Recent shootings and murders today have people scared and pushing forward for gun control acts. In my opinion there should not be gun control acts on any guns besides automatic guns because, automatic guns should strictly be for military use only. Guns don’t kill people, people kill people. Many people push for gun control, but the effects of gun control are too severe. In this paper I claim to tell about the reasons why someoneRead MoreGun Control Gun Rights873 Words   |  4 PagesStates have gun control or gun rights? This is a question many people ask and argue over. As a citizen of this country, I would like to examine both sides of the argument and then pick my view on the topic. As of right now, the United States have more gun rights than gun control. However, there have been laws made to regulate the sale and possession of guns. Many anti-gun activists argue that the NRA (National Rifle Association) is the cause of many of the horrific events involving guns. On the otherRead MoreEssay Americans Should Keep their Right to Bear Arms1107 Words   |  5 Pagesabout controlling guns and many people are trying to discontinue giving citizens the right to own or possess firearm weapons. There are many people who think that nobody should be allowed to possess a firearm where as there are many other people that believe they deserve the right to own a firearm for many reasons. Because of the large differential between beliefs on this topic there is a large debate within the US Government whether or not to allow citizens to continue using guns and keep them. Read MoreGun Ownership And Gun Related Homicides1386 Words   |  6 PagesAbstract Several peer reviewed studies on the subject of gun ownership and gun related homicides were identified and reviewed. During the research phase it was noted that there are opponents and proponents of gun control that present logical sounding arguments, but there have been several research studies conducted that suggest that there is a positive correlational relationship between gun ownership and gun related deaths, particularly gun related homicides. This paper will review many studiesRead MoreThe Debate Over Gun Laws1672 Words   |  7 Pagesthe legal right to own a weapon that could end your life? Gun control in America has been a long fought out debate. Republicans typically believe that it should be entirely legal for Americans to own guns because it is their right from the Constitution and they need it to defend themselves. Democrats typically believe that guns should not be legal because they are dangerous weapons and they can be abused by violent people. The debate over gun laws has continued to divide American because of the manyRead MorePersuasive Essay On Gun Control1465 Words   |  6 PagesAfter every highly publicized mass shooting, the topic of gun control becomes a political hot potato being juggled by the senators, congressman, and even the sitting president of the United States. It followed the usual pattern of condemning the shooter, questioning the ease in which the shooter was able to obtain guns, and with most mass shootings, proposing a ban on assault files used in the shooting. But within a few months, when the news agencies move onto other headlines, when all the hashtagsRead MoreGuns Dont Kill People, Criminals Kill People Essay1476 Words   |  6 Pages In America, gun control has been a source of debate for decades. Recently, an increase in the frequency of mass shootings has caused the country to become extremely polarized in relation to the issue. America is often described as having a gun culture as a result of firearms being engrained in its history and perhaps, consequently, has among the highest rates of gun-related crime as well as gun ownership rates, among developed nations. There exists an abundance of scholarly work done in an effortRead MoreAmerica Should Destroy All Guns Essay733 Words   |  3 PagesGuns have always been an increasing problem in our country. A lot of people use guns for hunting and other sports where guns are needed. There are also a lot of people who are using guns to kill or injure people. This has been a problem in the United States for many years. The gun control policies that the government has put into effect just flat out have not been working. nbsp;nbsp;nbsp;nbsp;nbsp;The second amendment of the United States Constitution says, â€Å"A well regulated militia, beingRead MoreGuns, Ammunition And Its Negative Effects On Society944 Words   |  4 Pagescan the availability of guns, ammunition and its negative effects on society be a thing of the past? Claim: An analysis of the United State gun culture reveals their negative effects on society. Thesis paragraph: In the wake of recent killings and mass shooting in sandy hook and other locations across the country and communities, there has been public cries for the need for stricter gun laws and regulations. Gun violence has become a major problem facing the country. Day in day out on the newsRead Moregun control research essay1222 Words   |  5 Pages ProCon.org recently featured an article that studied gun control. â€Å"Stricter state gun laws associated with fewer gun deaths, study finds.† The article discussed gun control laws in states with stricter laws tend to have lower rates of gun related homicides, and a suicide (ProCon para. 1) Gun control in the United States is becoming a wide spread issue and is becoming a problem everywhere. Although I am living in a city with uprising crime that has been skyrocketing over the years, I wasn’t aware

Good vs Evil in the Epic of Beowulf Essay examples

In the epic poem Beowulf, there is an obvious distinction between good and evil. The hero and his foes play roles that are commonly associated with Anglo-Saxon literature. The lines are clearly drawn and expressed in the poem. As the story moves, the reader cannot mistake the roles being played, based on the characterizations in the epic, one recognizes each character for their purpose and place. The epic is named after the hero, Beowulf, who is a man â€Å"with gleaming armor.† (line 130) Because Beowulf is â€Å"the strongest of the Geats- greater than anyone in the world† he was called upon by his uncle Higlac, the king of the Geats, to save Herot from the wrath of Grendel, a terrible monster. (lines 110-111) With him he â€Å"carries...†¦show more content†¦Eventually, at a ripe old age, Beowulf finally suffers the wrath of the dragon. He epitomizes the values of a warrior society which include bravery, loyalty, and prowess in battle. As a â€Å"bloodthir sty fiend,† Grendel was the first of the foes Beowulf battles. (line 407) He is â€Å"a powerful monster,† who â€Å"was spawned in... slime.† (lines 1, 19) He is a descendant of Cain, and chose to sacrifice the Danes to no one but himself. Grendel is â€Å"set on murder.†(49-50) Nothing can â€Å"quench his thirst for evil. (lines 52-53) Grendel stalked Herot and set his wrath loose on all who came to the hall. His mother, the â€Å"she-wolf† lived in an underwater cavern. (line 572) She is the â€Å"water witch,† one that no one’s â€Å"sword could slice her evil skin.† (lines 493, 496-497) Both characters are demons living only to hate, and cause terror in the hearts of those who know of them. The third villain comes much later than the first two. The dragon is Beowulf’s last enemy, and last battle. The beast poured out fire and smoke, and was one who â€Å"coiled and uncoiled† at the sight of a human. (line 67 3) The dragon menaces Beowulf’s kingdom and as an old man he is forced to fight the beast. The antagonists are evil and uncaring of human life, each choosing to end it when they please. They are bad and it shows. One night as Grendel decides to pay a visit to HerotShow MoreRelatedBeowulf: Themes1038 Words   |  5 PagesBeowulf: Themes The Anglo-Saxon epic Beowulf is the most important work of Old English literature, and is well deserved of the distinction. The epic tells the story of a hero, a Scandinavian prince named Beowulf, who rids the Danes of the monster Grendel, a descendent of Cain, and of his exploits fighting Grendel s mother and a Dragon. Throughout the epic, the Anglo-Saxon story teller uses many elements to build a certain depth to the characters. Just a few of the important character elementsRead MoreGood vs. Evil Found in Beowulf807 Words   |  3 PagesGood vs. Evil Found in Beowulf In the story of Beowulf, there are many different themes found. Many people argue the main theme found in this story. This has been argued for a very long time and will go on for many more years to come. Although many themes in this story stick out and a main theme will never be accepted, one main theme is very noticeable in the story of Beowulf. The main theme found in Beowulf is good versus evil. Good versus evil is very easy to recognize. â€Å"Some peopleRead MoreGood vs. Evil in Beowulf1456 Words   |  6 PagesGood vs. Evil in Beowulf Beowulf is longest and greatest early Anglo-Saxon poem which was composed in England sometime in the eighth century AD by a literate scop. This poem was created in the oral poetic tradition. This poem is considered as an epic because it is a long narrative poem which composed in an elevated style, dealing with the glories of hero (Tolkien 24). The setting of this epic is the six century in Denmark and southern Sweden. The protagonist, Beowulf is a noble warrior representsRead MoreTheme Of Good And Evil In Beowulf882 Words   |  4 PagesIn the epic poem, Beowulf, perhaps the most important theme seen throughout is the portrayal of good and evil, and how this portrayal impacts the story. The epic poem is about an epic hero, Beowulf, who is completely thought of as a good character and a strong warrior. The unknown author of this poem makes Beowulf out to be, ultimately, a glorified killer of the perceived monsters. However, the poem in and of itself is an opinionated story which giv es the bare amount of opposition to show that perhapsRead MoreEssay on Good vs Evil in Beowulf1568 Words   |  7 PagesIn Beowulf, the clash between good and evil is the poems main and most significant focal point. Although the epic poem Beowulf utilizes many characteristics of Christian themes, the violence in the poem relates to paganism. By exploring the characteristics of â€Å"good vs. evil† such as Cain, Grendel and Beowulf, this paper will explore the elements of Beowulf in such a light. The Anglo-Saxon poem, Beowulf, was originally told orally then later was written down anonymously in the Old English languageRead MoreTheme Of Christian And Pagan Elements In Beowulf978 Words   |  4 Pageselements Beowulf was written during the time that society was in the process of converting from Paganism to Christianity. Early Christianity developed in the Roman Empire, where many religions were practiced and formed into paganism. Paganism is commonly used to refer to various, largely unconnected religions and beliefs from that time period. Beowulf was written in England between the 8th and 11th century. The name of the author is unknown, but referred to as the Beowulf Poet. Beowulf is consideredRead MoreTheme Of Good And Evil In Beowulf1190 Words   |  5 PagesIn the beginning all was good; there was no evil. The start of evil was marked when a jealous angel, Satan, desired equality to God. He thrust an ever-lasting battle into play when he battled God for supremacy. One-third of all the angels in heaven, including Satan, were thrown from heaven onto Earth. God’s perfect creation became faulted when the fallen angel, Satan, tempted Adam and Eve into eating a forbidden fruit. By partaking of the forbidden fruit, sin was born on Earth. The birthing of suchRead MoreEssay on Beowulf study guide1576 Words   |  7 Pages1) Describe how we find King Hrothgar and his response to learning that Beowulf has come to his kingdom. A. The king is sad and depressed that his kingdom has fallen into such a state of disrepair. He is overjoyed to learn that Beowulf, whom he knows from stories and his father, Ecgtheow, has come to fight Grendel. Hrothgar promises Beowulf treasure if he can defeat the monster. 2) In the beginning of â€Å"Beowulf,† King Hrothgar’s hall has been deserted for twelve years. In a short essay, tell whyRead MoreCompare And Contrast Beowulf And Grendel725 Words   |  3 PagesHonors English 3 10/29/17 Grendel Point of View Essay Both the epic poem Beowulf and the novel Grendel depict the same storyline, but from different point of views. Grendel’s personality tends to be much more evil than he himself depicts in the novel. Since Grendel is the narrator of the novel, the audience only gets to know what the story is like from his point of view, which he stretches the truth on numerous occasions. But, in Beowulf, the poem has a narrator and is in the third person omniscientRead MoreEssay on Good and Evil in Beowulf1042 Words   |  5 PagesThe story of Beowulf was probably composed in England sometime in the Eighth Century AD, and written down circa 1000 AD, by a literate scop (bard) or perhaps a Christian scribe who was possibly educated in a monastery. The poem was created in oral tradition and was transferred to writing over time. It had its roots in folk tales and traditional stories until some very talented poet put it in something very near to its current form. The poem was more than likely per formed for audiences at court