Monday, September 30, 2019

A Delicate Issue: Fast Food Essay

Fast food has been steadfastly adored by people throughout the world over the three decades. In the fast food restaurants, customers are always busy getting in line and buying foods on a national scale. Accordingly, employees take orders, and pack various burgers in a flurry. Foods pour in boundlessly, and help-wanted advertisements are constantly attached on one side of a wall. If so, why on earth are people going so wild with enthusiasm over fast food? In fact, several major advantages of fast food products such as hot dogs, hamburgers, pizza, and tacos are convenience, warmth, taste, and accessibility of fast food restaurants. However, Eric Schlosser, the author of Fast Food Nation, is anxious for the riskiness of fast food industry, and he sounds a warning to the nation. In order to grasp the facts of fast food, we need to disclose the basis of his assertions. First, fast food industry is excessively expanding all over the nation. According to a Korean proverb, â€Å"Too much is as bad as too little. See more: Satirical essay about drugs † For example, the McDonald’s Corporation as the most gigantic fast food source of supply makes inroads into small restaurants, and other food industries try to imitate and adopt analogous business ability. Furthermore, in fast food restaurants, there are numerous menus. They have not only burgers and sodas but also foreign dishes such as teriyaki burger, jalapeno burger, and chili bowl. Ultimately, every foreign food restaurant around the fast food restaurants gets a blow. The business ethics are important. It doesn’t matter by law, but it can ethically be a problem. This problem occurs not only in the food service industries but also in agricultural societies. According to Fast Food Nation, â€Å"Family farms are now being replaced by gigantic corporate farms with absentee owners. Rural communities are losing their middle class and becoming socially stratified, divided between a small, wealthy elite and large numbers of the working poor (499). † In this manner, only the industrialized agriculture can survive at this time. Truly, immoderate unevenness of authority corrupts societies. Second, fast foods are relatively unsanitary and have possible effect on genetic health. In Fast Food Nation, Schlosser remarked, â€Å"The meat industry practices that endanger these workers have facilitated the introduction of deadly pathogens, such as E. coli 0157:H7, into America’s hamburger meat, a food aggressively marketed to children. The federal government has the legal authority to recall a defective toaster oven or stuffed animal—but still lacks the power to recall tons of contaminated, potentially lethal meat (499). † Germs especially in meat must be extremely harmful and they can be deadly for our life. Moreover, there are considerable numbers of children customers who like fast foods as a result of various promotions for kids. Since children have much weaker immune system than adults, the germs may lead them to death more easily if the sanitary of fast food doesn’t be improved. Besides, there’s another problem with potatoes. Frozen French fries made from genetically engineered potatoes had been used in McDonald’s for a long time. Most people don’t believe the safety of genetically modified organism. As a matter of fact, GMO is unnatural, and it may bring genetic disease such as an allergic disease occurred from the accident of Brazil nut. In the spring of 2000, fortunately, McDonald’s informed it would no longer purchase those, but how would it guarantee the safety against possible danger of GMO from now on? Truly, fast food corporations are required to have responsibility and business ethics about the nation’s health and safety. Third, working conditions are deteriorated in fast food restaurants. According to Fast Food Nation, â€Å"While a handful of workers manage to rise up the corporate ladder, the vast majority lack full-time employment, receive no benefits, learn few skills, exercise little control over their workplace, quit after a few months, and float from job to job. The restaurant industry is now America’s largest private employer, and it pays some of the lowest wages. The roughly 3. 5 million fast food workers are by far the largest group of minimum wage earners in the United States (497). † Even now, the websites such as Google and Yahoo are overflowing with complaints about poor working conditions in McDonald’s. For example, they continuously hold out for a pay increase, but the situation remains unchanged. In fact, there is a big possibility for unhealthful foods and unfriendliness to customers unless the dissatisfaction of employees doesn’t die down. In the long run, fast food corporations might undergo the severe hardships with employments and merchandising goods. Of course, McDonald’s do charitable works, but those cannot be the fundamental solution. Uncountable people think fast food corporations are able to make much more profit if they show the strong credibility. Improving working conditions is a problem awaiting urgent solution. Overall, there are numerous issues of fast food corporations. Truly, few restaurants such as McDonald’s and Burger King can have both enormous scale and authority in the world. Therefore, they are required to have a lot more business ethics. Moreover, customers should be concerned about and stimulate fast food corporations ceaselessly and strongly. There are a large number of people who are expecting radical changes. Measures to stabilize the people’s distrust and dissatisfaction are urgently needed.

Sunday, September 29, 2019

Accounting Essay

Contents 1. Introduction2 2. Main Body2 2. 1 Ratio Analysis2 2. 1. 1 Profitability3 2. 1. 2 Efficiency4 2. 1. 3 Liquidity6 2. 1. 4 Risk7 2. 2 Evaluation of Mulberry’s shares as a potential investment7 2. 2. 1 Revenue and Share price8 2. 2. 2 Return10 2. 2. 3 Risk14 2. 3 Funding and capital analysis15 2. 3. 1 Funding analysis15 2. 3. 2 Working capital18 2. 4 Risk management and governance20 2. 4. 1 Corporate governance of Mulberry20 2. 4. 1 Risk & control management22 2. 4. 3 Information and Communication24 2. 4. 4 Monitoring24 3. Conclusion25 Reference26 1. IntroductionThe company that we chose is Mulberry Group. PLC. This is a company that produces and sells bags and purses, as well as designs them for both individuals and other companies. We have chosen the annual report of Mulberry Group. PLC that gives us an in-depth view of the company’s finance performance, investment potential, capital structure and manage operating during the period of time which from financial year 2010 to 2011. With this annual report, we will try to analyze and critically appraise the company’s accounting information, market report and management control system.The following content will be included in this paper: Ratio analysis, investment return, debt and capital analysis, governance and risk management. 2. Main Body 2. 1 Ratio Analysis Ratio analysis is frequently used in evaluating a company’s financial condition. The financial ratios are able to provide us significant information to analyse the company’s financial performance. Depends on these ratios, we can examine the condition of the company’s finance and check whether the results of the company’s operating meet its targets (Atrill and Mclaney, 2008).Normally, we will use cash flow, income statement and finance position to calculate ratios. In the ratio analysis parts, we will calculate and analyse the core ratios of Mulberry plc, these ratios will also be the base of the follo wing parts of this article. According to Mulberry’s annual report, during the financial year 2010 to 2011, the company has experienced a successful year. Mulberry Group’s business mainly focused on the UK market, and the revenues of this company comprised retail and income of design, as the demand of its products increased strongly during the past financial year, the sales raise rapidly.In this part, we will try to analyze the core ratios of the company and simply analyze the probable reason for the changes of these ratios. 2. 1. 1 Profitability To analyse a company’s profitability, there are three ratios concerned: gross margin, net margin and return on capital employed (Collier, 2009). Firstly, we will look into gross margin. This margin mainly shows the relations between the costs and the price of finished goods. Gross margin (2011: 65. 35%; 2010:58. 97%) Gross margin is: (Sales – cost of sales)/sales * 100% The gross margin in 2011: 79501 / 121645*100 %=65. 35 % The gross margin in 2010:42487 /72052*100%=58. 7 % From the ratio, we can see that the gross margin of Mulberry increased to 65. 35% in 2011 from 58. 97% in 2010. The reasons that can cause changes in gross margin is the changes in prices and costs. In Mulberry’s case, the higher gross margin results from the dramatic improvement in revenue as well as cost of sales. According to Note 5, apart from the growth in sale of goods which caused by the impressive performance in new oversea stores and online stores, the 900,000 income, which disclosed in other income, received on the exit of the New Bond Street lease also contributes to the increase in revenue.Net margin (2011:18. 92%; 2010:6. 74%) Net margin is an important ratio to examine a company’s profitability. The formula is: Net margin=Operating profit / sales * 100%, and the ratio for Mulberry is: The net margin in 2011: 23010/121645*100%=18. 92 % The net margin in 2010: 4856/72052*100%=6. 74% Net margin is closely connected with gross margin. From the information above, we can see that during the last year, the gross margin of this company has increased. But the extant of the increase of net margin is higher than it of the gross margin.The most crucial factor result in the increase of operating profit is the operating profit before exceptional items. Details about those exceptional items can be found in Note 7 that a deferred consideration of ? 1,000,000 has been paid to Challice Limited in terms of the growth in the USA operations. Return on capital employed (2011:55. 54%; 2010:19. 26%) Return on capital employed shows the ability of the company to get rewards which can be added into its equity through company’s operating behaviors (Atrill and Mclaney, 2008)Return on capital employed: Operating profit / assets- current liabilities) * 100% Return on capital employed in 2011: 23010/ (76587-34555)*100%=55. 54 % Return on capital employed in 2010: 4856/ (40284-13819)*100%=19. 26% From the ratio above, it is easy to find that the return on capital has raised rapidly in last year, from 19. 26% to 55. 54%. ROCE increased not only because the growth in operating profit and raised asset which mainly contributed by increased inventories as a result of the demand of growing sales and trade receivables.The trade creditors as well as accruals and deferred income have been included in current liabilities since all of them could be paid within 12 months. Moreover, there are ? 1,000,000 provision for the USA deferred consideration, ? 3,900,000 relating to payroll and bonus payments made post year end cut off and ? 1,537,000 accruals for fixed assets happened in 2011 while there were all nil in 2010. 2. 1. 2 Efficiency Based on Collier’s study (2009), there are three core ratios that are usually used to analyse a company’s efficiency, they are asset turnover, stock turnover and sales per employee.The first two ratios are used to measure the efficiency of t he company’s operating of turning its property to generate marketing behaviors and sales, the sales per employee is try to evaluate the employees’ performance. Asset turnover (2011:5. 90x; 2010:6. 70x) Asset turnover: Sales / non-current assets, from it we can calculate: Asset turnover in 2011: 121645/20620=5. 90x Asset turnover in 2010: 72052/10760=6. 70x The asset turnover has slightly fallen, from 6. 70 to 5. 90. The drop of asset turnover indicates a less efficiency use of shareholders’ assets in terms of sales, although the revenue has increased dramatically.However, according to Note 16, it might because the investment in software of ? 615,000 which cost nil in 2010. It also can be interpreted that the return of investment can be effective and huge if invest on new stores or flagship, however, it could also be inefficient but significant return on investment if invest on software, such as ERP system, which might be expensive and need much more time to gain benefit from them. Stock turn (2011: 1. 9x; 2010:3. 3x) The main business of Mulberry is design and retail, according to Collier’s work (2009), stock turn is one of the most important ratio to evaluate the company’s management of its stock.Stock turn: Cost of sale / stock Stock turn in 2011: 42144/22408=1. 9x Stock turn in 2010: 29565/9090=3. 3x The stock turn in 2011 is lower than it in 2010. That means the stock of Mulberry turns 1. 9 times each year now. The considerably increase in inventories which related to the growing demand of sales of goods has contributed to the decline of stock turn. This ratio should be one of the most important ratios of it (Atrill and Mclaney, 2008). Stock turn stands for how many times the stock will turn in a year.Generally, it is important because some businesses treat too much stock as a waste of sources and a high stock turnover rate will usually be regarded as a sign of good management. Although in 2011, there is a decrease from 3 . 3 to 1. 9, it didn’t necessarily mean the company’s management of stock had some problems because the inventories of the company has increased rapidly as we discussed before. As a retailer, the inventories are very important to ensure its market position and the increase of inventories as a result of preparation for market exploring is reasonable. 2. . 3 Liquidity Atrill and Mclaney (2008) stated that the liquidity stands for the short-term finance ability of the company. The ratios that generally used to analyse liquidity are current ratio, and acid test. Current ratio (2011:1. 62x; 2010:2. 14x) First of all, current ratio stands for the proportion between current assets and current liabilities. It is used to analyse the company’s ability to repay its short-term liabilities. High current ratio means the company has enough property to cover its debt, if the current ratio was below 1, the company could be in danger.However, a too high current ratio might mean t he company doesn’t make full use of its property. Current ratio: Current assets / current liabilities Current ratio in 2011: 55967/34555=1. 62x Current ratio in 2010: 29524/13819=2. 14x According to Note 24, the decrease of current ratio mainly because of the current liabilities has increased more than current assets because of those trade payables in current liabilities that not exist in 2010. Acid test (2011:0. 97x; 2010:1. 48x) Acid test is a ratio which trying to evaluate the company’s monetary asset.Different from current ratio, acid test is focusing on whether the company can repay its short-term liabilities with its monetary assets. Acid test: Monetary current assets / current liabilities Acid test in 2011: 33519/34555=0. 97x Acid test in 2011: 20453/13819=1. 48x Because there is high level of inventory in 2011 in order to support the adequate amount of goods to be sale, it is not unacceptable that the monetary current assets without inventory are less than curr ent liabilities for this year. Furthermore, there are several trade payables occurred in 2011 while nil in 2010 in terms of Note 24. . 1. 4 Risk Interest cover (2011:531. 57x; 2010: 197. 00x) The interest cover has increased as a result of much higher profit since it can be seen in Note 22 that there is no changes in borrowings these two years. Therefore, it can be a good thing to shareholders that interest cover increased healthily. The confusing things we found in the annual report were that there is no debt within these two years, only borrowings can be taken into consideration the risk. The details about borrowings can be found in Note 22 that seems all the borrowings are repayable on demand.So, we can’t analyze the risk of this company through these ratios. The reasons why the company didn’t borrow long-term loans from banks and the advantages as well as disadvantages will be discussed in risk management analysis and funding analysis part. The investor part will b e analysed in next part, in the form of buying shares. 2. 2 Evaluation of Mulberry’s shares as a potential investment Mulberry has experienced a significant growth in revenue from 2010 to 2011 and the basic earnings per share increased by 473% to 29. 8p while it was 5. 2p in 2010, both of which are shareholders would like to appreciate.Moreover, it might be out of question that those figures would attract a good deal of investment. However, it is always necessary to assess whether it is an appropriate timing to invest a company in terms of several financial indicators, such as, market value of equity, the P/E ratio (price earnings ratio), dividend yield as well as gearing (Fonseka and Tian, 2011). This part is going to critically interpret these indicators respectively after an overview on the fundamental financial circumstances and provide a suggestion for investment in the end. . 2. 1 Revenue and Share price |? ’m |2011 |2010 |2009 |2008 |2007 | |Revenue |121,645 |72 ,052 |58,585 |51,174 |45,078 | |Share price (p) |1,333. 33 |183. 33 |64. 52 |133. 33 |187. 5 | (Table 1) Before conducting a thorough analysis of return and risk, it is worth reviewing Mulberry’s revenue for last five years.It can be seen from Table 1 that Mulberry has kept a sustainable growth in revenue since 2007, which indicates the optimistic picture of their financial condition. Furthermore, it is remarkable that Mulberry group performed satisfyingly as usual even when other organisation experienced a depressing year result from the financial crisis happened in 2009. [pic](Figure 1) However, comparing the FTSE All-Share, which is a market-capitalisation weighted index of all shares traded listed on the London Stock Exchange’s main market (Ince and Porter, 2006), Mulberry group’s share price has changed significantly since May 2011.As can be seen from Figure 1, the share price has increased dramatically after May in 2010 while the FTSE All-Share index has g one up slightly with fluctuation. [pic] (Figure 2) Furthermore, according to Figure 2, which clearly shows Mulberry’s share price combined with FTSE All-Share index from 2007 to May 2010, the performance of Mulberry basically enable the share price to track market all the time. Although the price touched bottom in 2009 due to the financial crisis, when there has been an uptrend in market between April in 2009 and April in 2010, Mulberry seemed to catch that opportunity and in April 2010, he price went up to the price peaked point in 2007. It is crucial to mention that the marketing strategy as well as the performance of Mulberry group has contributed most to the significant increase since the second half year of 2009. According to Mulberry’s annual report and financial statement for the year ended 31 March 2010, they have continuously invested their business both in the UK and internationally, using retained profit and cash flow.For example, the showrooms opened in New York and Paris could be successful attempts, both of which have played an important role in the growth of profit. In terms of the strategy has made an initial success, it can be assumed that there might be an unpredictable potential market share for Mulberry to explore. Actually, the assumption has been approved with the significant increase in revenue and share price for the next half year in 2010 and continued in 2011. [pic] (Figure 3) Figure 3 shows Mulberry’s one-year share price associated with FTSE All-Share index comparison starting with June in 2010.As can be seen from this chart, the price of Mulberry increased too enormously to see the change of FTSE All-Share index, which means Mulberry performed outstanding when the general financial background was not optimistic. Although it is rare to see the share price recover and grow in such a short time after the financial crisis, the increase of Mulberry’s might had already been predicted and both managers and shar eholders are confident enough to take more market share. Consequently, the ambitious attempts of opening 9 new stores and on-line shop during the next half year of 2010 have been achieved successfully.Fortunately, the dramatic revenue increase harvested by those new stores and flagship indicates the significant demand of Mulberry’s products and services existing in market. In addition, the remarkable performance attracts more investors. However, it is crucial for them to weigh if it is a good timing to invest even though the performance of Mulberry after the financial crisis is extraordinary brilliant. Thus a depth analysis in terms of both return and risk will be conducted in the following sections. 2. 2. 2 ReturnPrice / earnings ratio (P/E Ratio) Price earnings ratio indicates that the common stock of a company is priced in terms of the ability to generate earnings of this company. Meanwhile, it also can be used to examine whether a stock is cheap or expensive (Muresan and Wolitzer, 2001). |? ’m |2011 |2010 |2009 |2008 |2007 | |P/E Ratio (adjusted)|45. 20 |27. 60 |14. 30 |22. 20 |23. 00 | (Table 2)Table 2 shows the adjusted P/E ratio of Mulberry between 2007 and 2011. Comparing with the persistence increase in revenue, the P/E ratio, which related to shareholders as well as potential investors, still has declined since 2008. However, the decrease is completely reasonable because the share price was influenced by the unpleasant economic circumstances. In addition, to some extent, it is the financial crisis that reminds Mulberry to consider expand their business internationally rather than focus on UK local market in order to distract risk.According to Mulberry’s five-year P/E ratio, the expansion strategy enables the company not only to recover from the financial crisis but also to double their share price. However, it is also indispensible to take the probability of continuous earnings growth into account, regardless of the appealing dou bled return indicated by the P/E ratio. In terms of Mulberry’s following strategy will concentrate on production capacity expansion to meet the growing demand, the considerable ability of generating earnings may be guaranteed and remained, even though it seems impossible to gain the similar incredible increase in revenue next year.Consequently, although Mulberry is a company worth investing since it has extraordinary performance in reacting to crisis, as well as the considerable demand for their products in the market, the best timing of investment in Mulberry has already lost. Market capitalisation (value of equity) The market value of equity is a measurement of present value of all future cash flows to shareholders from both assets and future investment opportunities (Adam and Goyal, 2008). It can be calculated by P/E ratio time earnings which is the profits after tax. |? m |2011 |2010 |2009 |2008 |2007 | |Share price (p) |1,333. 33 |183. 33 |64. 52 |133. 33 |187. 5 | |Mark et value of equity |771. 11 |81. 97 |36. 89 |76. 37 |91. 54 | |P/E Ratio (adjusted) |45. 20 |27. 60 |14. 30 |22. 20 |23. 00 | |Profits after tax |17. 06 |2. 7 |2. 58 |3. 44 |3. 98 | |Equity |42. 03 |26. 47 |24. 38 |22. 52 |16. 87 | (Table 3) According to table 3, the market value of equity changed with share price instead of the number of equity. However, it is remarkable that even when the market value of equity decreased by half in 2009, it still surpassed the equity in that year. Additionally, with the dramatic growth in revenue, the market value of equity has increased by nearly 95% to 771. 1 million between 2010 and 2011, which gives the confidence not only to shareholders but also some potential investors. Nevertheless, if investors decided to invest Mulberry now, it is possible to have two results in terms of return. Firstly, investing for short-term, investors would buy shares with an extremely higher price than two years ago whereas the return would be incredibly smaller. S econdly, investors may harvest a steady return in a long-term investment and there might be another significant increase when Mulberry conducts some other expansion strategies.Dividend yield Dividend yield can be calculated by taking the dividend per share and divide by the share price. To analysis the investment opportunity with dividend yield, this part applies Burberry as a competitive objective. Even though Mulberry’s share price overweighed Burberry’s slightly in 2011, Burberry has a much longer history with high share price as in a same industry. Table 4 provides the share price, dividends per share as well as dividend yield for Mulberry and Table 5 shows Burberry’s. Mulberry group plc: |? m |2011 |2010 |2009 |2008 |2007 | |Share price (p) |1,333. 33 |183. 33 |64. 52 |133. 33 |187. 5 | |Dividends per share |4. 00 |2. 20 |2. 00 |2. 00 |1. 50 | |(p) | | | | | | |Dividend yield |0. 30% |1. 20% |3. 10% |1. 50% |0. 0% | (Table 4) Burberry group plc: |? ’ m |2011 |2010 |2009 |2008 |2007 | |Share price (p) |1,176. 47 |700 |279. 07 |444. 44 |656. 25 | |Dividends per share |20. 00 |14. 00 |12. 00 |12. 00 |10. 50 | |(p) | | | | | | |Dividend yield |1. 70% |2. 00% |4. 0% |2. 70% |1. 60% | (Table 5) With comparing Table 4 and Table 5, it is obviously that Mulberry has not adjusted their dividends instantly when the share price increased significantly, which results in the unpleasant dividend yield this year. In this circumstance, Burberry seems a wiser investing choice since the 5 times dividends per share of Mulberry’s, which will generate more returns for investors. However, Kothari and Shanken (1997) argues that a considerable increase in share price is possible to result in not only the large positive returns but a downward in yield as well.In addition, according to Akhigbe and Madura (1996), managers’ expectation to alter performance strategy would be a factor contributed to the dividend adjustment. Consequently, Mulberr y needs more time to balance share price and dividend. Burberry has been mature in its global marketing expansion, while Mulberry has just started to occupy its international market share, and therefore there are more potential opportunities for Mulberry’s global development. Thus, Mulberry could be the company suitable and profitable to be selected as a long-term investment. 2. 2. 3 Risk Gearing Gearing (%) |2011 |2010 |2009 |2008 |2007 | |Mulberry |n/a |n/a |0. 54 |0. 14 |23. 05 | |Burberry |n/a |n/a |n/a |n/a |n/a | |ASOS |n/a |n/a |n/a |n/a |n/a | (Table 6) It seems strange that Mulberry does not have debt which results in the incalculable gearing.However, it is a common phenomenon in rag and accessories trade industry in terms of the gearings of the other two companies presented in Table 6 are unavailable. As a result, the risk of investment on Mulberry would be limited. However, considering the high share price this time, it would be a better decision to invest Mulberry for a long time instead of short time. 2. 3 Funding and capital analysis In this part, we are going to identify the sources of funds, analyse the capital structure of Mulberry Group PLC and try to evaluate its suitability.It is easy to witness from its balance sheet in 2011, the company did not have any non-current liabilities. This situation can be triggered by a wide range of reasons, we will try to figure them out in this essay. 2. 3. 1 Funding analysis To begin with, it is necessary to draw on the annual report of Mulberry Group PLC in 2007, and to compare the different data in the two years. According to Mulberry’s annual report, in 2007, the quantity of total non-current liabilities was ? 3. 99 million, composed by borrowings (? 1. 25 million), preference shares (? . 564 million), deferred tax liabilities (? 149 thousand), and obligations under finance leases (? 27 thousand). Therefore, the gearing in 2007 is 19%, which was quite low. So, the relevantly large proportio n of funds, used for maintaining the enterprise’s operation, was from internal financial resources. Besides, it also lowered the financial cost, which is used to pay the interest to the financial institutions. In terms of the cash flow in 2007, it was clearly stated in the balance sheet, the cash generated from operation was ? ,926 thousand and, after the corporation taxes, interest and preference dividends were paid, the net cash from operating activities was ? 5700 thousand. Afterwards, the primary use of cash lied in the investing activity, with ? 3,518 thousand. Finally, the cash and cash equivalents at the end of 2007 was ? 10,271 thousand, with a big increase of ? 2,989 thousand. This absolutely intensified the repayment ability and liquidity, when we compare this data with the number of non-current liabilities. Apart from that, the retained profit in this year surged from ? 4,562 thousand to ? ,186 thousand, acting as a significant role in the sources of funds (annual report 2008). By contrast, in 2011, the company had no non-current liabilities. So we use the current liabilities to calculate the gearing of this year, which is 45%. The cash generated from operation was ? 26,264 thousand and the net cash from operating activities was ? 22,724 thousand. At the end of 2011, the cash and cash equivalents fairly increased from ? 12,171 thousand to ? 21,373 thousand. The increase in raw materials (? 13,318 thousand) and purchases of property, plant and equipment (? 1,176 thousand) were the important components of cash outflow in this year. When it comes to retained earnings, the data increased by ? 16,080 thousand to ? 30,696 thousand. | |Gearing |Non-current liabilities |Net increase in cash and cash|Cash and cash equivalents at the end|Retained profits | | | | |equivalents |of the year | | |2007 |19% |? 3,990 thousand |? 2,989 thousand |? 0,271 thousand |? 8,186 thousand | |2011 |0 |0 |? 9,202 thousand |? 21,373 thousand |? 30,696 thousand | It is ob viously displayed in the table above that Mulberry’s sources of funds and the capital structure are greatly distinct from each other. The gearing of Mulberry in 2007 was 19% due to the existence of Non-current liabilities. By contrast, since there were no non-current liabilities at all in 2011, the gearing of Mulberry this year was 0.This definitely lowered the financial expenses which were incurred by bank loans, and the company did not need to face the financial risk triggered by bank loans as well. Furthermore, the operating profit in 2007 was ? 6,672 thousand and the interest payable of that year was ? 298 thousand, the interest cover ratio in 2007 was 22. 4 times. By contrast, due to the dramatic increase in operating profits (? 23,110 thousand) and the large drop in interest payables (? 44 thousand), the interest cover rate in 2011 became as high as 525. times. As Gillespie et al(2000) stated that high operating profits could be seen as the company has abilities to cont rol its costs effectively, or the volume of sales are increasing faster than operating cost. Currently, Mulberry has got a much better capacity in paying the interests to the financial institutions, those financial institutions may become more willing to lend money to Mulberry now. Although the retained profits in 2007 played an greatly important role as the major internal funds, but taking the non-current liabilities (? ,990 thousand) into consideration, the level of its significance is partly weakened when we compare it with the situation in 2011, because Mulberry currently just use retained profits as the primary source of their funds for operation. It is worthwhile to mention that, one of the Non-Executive Directors, Melissa Ong, who was appointed on 7 September 2010, her parents held about 57% voting rights of the company. Although it is not clarified in the annual report, we can easily deduct that her parents input a large amount of investment for Mulberry, which is also a mai n source of funding.Inventories acted as another source of funding in Mulberry. The stock turn of Mulberry in 2011 was 1. 88x, so the stock turn period was 194 days. The period was relatively long when we compare it with the one (130 days) in 2007, this was partly due to the striking increase in the quantities of inventories, from ? 6,688 thousand to ? 22,408 thousand. However, as mentioned in the annual report, the demand of the market surged in recent years, so the high level of stock is beneficial for Mulberry. When the company suffers from the shortage of cash, they can simply turn their large amount of stocks in to the form of cash.Apart from that, a relatively large proportion of inventories were occupied by the finished goods with ? 20,069 thousand. For Mulberry, which used internal funds as the major source of funding, the high level of inventories is reasonable. However, the reason why Mulberry stopped acquiring long-term funds from banks can be quite complex. As we all kne w, the overwhelming Subprime Crisis happened in the year of 2007,forcing a wide range of banks to close down, simultaneously the interest for applying for long-term loans from financial institutions rocketed since then. The telegraph 2007) This big trend of the economic environment might lead to Mulberry Group’s cease of issuing new loans from the bank. Also, there may be some other reasons. It is fairly clear in the table above, the net increase in cash and cash equivalents in 2011 is about 8 times more than 2007, the balance of cash and cash equivalents in 2011 is approximately 3 times more than the previous and the similar situation also happens in the retained profits and inventories of these two years.Therefore, it seems quite normal for Mulberry to cease the long-term creditors and use its retained profits, inventories and the short-term loans as their source of funds, which can also lower the financial expenses for the enterprise. 2. 3. 2 Working capital In order to fi gure out the suitability of the current financial structure, it is necessary to calculate the number of the working capital and the working capital cycle. Broadly speaking, working capital is a measure of capability for the company which can pay its debt in the short-term liability.It is certainly important to distinguish between positive and negative working capital (Dyson, 2011). The amount of the working capital is equal to the total amount of receivables, payables, stock of raw materials, work-in-progress and finished goods. As what we mentioned above, we can calculate the working capital of Mulberry in 2011. Receivables: ? 12,186 thousand Payables: ? 11,949 thousand Stock of raw materials: ? 1,684 thousand Work-in-progress: ? 655 thousand Finished goods: ? 20,069 thousandIn 2011, the total working capital of Mulberry was ? 22,645 thousand. From the composition of the working capital, it is apparent that a comparably large amount was occupied by the form of inventories (? 22,408 thousand). As the manufacturer, designer and the seller of their own products, it is normal for Mulberry to hold such a proportion of working capital in the form of inventories, thereby meeting the needs of customers and quickly reacting against the sudden change of market’s demand, like the big increase in seasonal demand.When we compare the amount of working capital (? 22,645 thousand) and the retained profits (? 30,696 thousand), it seems that there are not any problems for Mulberry to cover the working capital with their retained earnings, due to the considerable gap between them. Taking the cash and cash equivalents (? 21,373), this indicates that the cash in Mulberry was allocated in operating activities appropriately and there was no idle cash existing in the company, which would lead to an opportunity cost to Mulberry.In terms of the working capital cycle, we need to draw on some other data from the income statement and the cash flow statement. Sales of goods: ? 121, 645 thousand Cost of sales: ? 42,144 thousand Material cost: ? 13,318 thousand Bought-in service: ? 11,176 thousand So the working capital cycle of Mulberry in 2011 was 85 days. The credit given cycle was 37 days, comparatively a short period when we compare it with the data of credit taken cycle (178 days). This means that Mulberry just spent 37 days getting the cash back for the portion of which was sold to customers on credit.Also, it could guarantee that Mulberry got enough time to enhance the balance of cash, in order to cover the following trade payables and avoid the running out of cash at the mean time. In another aspect, the liquidity of Mulberry was intensified at the same time as well. However, if we take the company’s long-term strategy into consideration, keeping more cash is not the bad thing for Mulberry, as stated in the annual report, they are planning to continually expand the international market and opening more and more retailing and flagship stores throu ghout the world. Expansion at such a fast rate may call for a large amount of cash.So, even though there are no problems at all currently for Mulberry to utilize retained profits and short-term creditors as the only source of their funds, issuing some long-term funds, like bank loans, will not bring any disadvantages, although this may incur some charges on financial expenses. From the long-term perspective, it will be beneficial for the company to get some long-term and stable external funds, thereby avoiding the shortage of cash and funds during the process of expansion. 2. 4 Risk management and governance 2. 4. 1 Corporate governance of MulberryAt the beginning of the corporate governance part, the company states itself as an AIM (Alternative Investment Market) member and complying with the Corporate Governance Code is not required (Mulberry, 2011). AIM is a second board enables smaller  companies  to  float  shares with more flexible stipulations (Tricker, 2009). Still, Mulberry follows the fundamental principles of the code (Mulberry, 2011), and importantly, they fit the code contents with their individual situations. Based on this state, our analysis still follows the UK Corporate Governance Code primarily and detects any issues contrary to the code.Besides, comments and debates are connected with the company’s own factors. In the board of Mulberry, the chairman and CEO is the same person. This person, named Godfrey Davis, has been in charge of this company for nearly ten years from November 2002. This setting goes against the UK Combined Code which states, â€Å"The role of chairman and chief executive should not be exercised by the same individual† (the UK Corporate Governance Code, 2010:13). In this case, we doubt that if Godfrey’s power is over-concentrated, which makes him have too strong influence on decision making process in the board (Goyal and Park, 2002).Consequently, strategies may be generated subjectively. Howev er, a specific explanation is not given in the report. Instead, they only point out several criteria of director selection should be carefully assessed, as a way of reduce the possibility of the problems addressed above. But actually, this state explains nothing about the problem, which conversely doubles our doubts. Next, the numbers of Executive Directors and Non-executive Directors are unbalanced, with five Non-executive Directors and only two Executive Directors.The five Non-executive Directors are not entitled to govern company routine affairs and the specific running plans while these two Executive Directors actually do (Mallin, 2004). Hence it is doubtful that if these two people really execute independently or just execute generally. Moreover, combining the fact of Godfrey Davis’s acting as both chairman and CEO, it especially intensifies our thought on the existence of subjective decision making process (Mallin, 2004), or even the over-centralized management in the c ompany.On the other hand, these outside directors, instead of actually contributing to the company’s strategy and policy making relating to its performance, they are actually â€Å"pushed into a conformance and compliance mode† (Tricker, 2009) and do not take much positive effect. Conversely, McKinsey (2002) debates that a sensible structure is combined with a majority of Non-executive directors because they are indeed independent and can result in an effective evaluation. On the other hand, it is found in the profile of directors that, both the executives have the FCA background.Obviously, it enables them to detect and control the financial risk better, by using their financial knowledge (Dionne and Triki, 2005). Conversely, we may also suspect they are fully capable to use professional financial tricks to disguise the poorer performance areas, and at the same time, make their stewardship looks proper. On the other side, according to the UK corporate governance code ( 2010), audit committee is required to monitor the financial performance and check the company’s risk assessment.Chris Robert, the chairman of the Audit Committee, as another financially educated director, suits the requirement of responsibilities stated in the code. Considering the independence of Non-executives, several problems which may raise suspicions are found referring to the code. Firstly, all the Non-executives except Melissa Ong, have been appointed for more than 6 years. Especially Robin Gibson, this person has been in this position for more than 14 years since 1996. These facts raise some questions about the independence of the board and no explanations are given by Mulberry.Additionally, both Steven Grapstein and Bernard Lam Kong Heng are presently serving in Como Holding Group, though in different subsidiary company. This relationship particularly could pose a negative impact on the independent base (Mallin, 2004). Thirdly, Melissa Ong, who is quite young at 37, was newly appointed in 2010. This lady does not directly hold any shares for Mulberry, however, her parents are â€Å"beneficially interested approximately 57% of the Company’s total voting rights† (Mulberry, 2010:14). In other words, Melissa though not own the huge amount of share, she’s actually represent a significant shareholder indirectly.In contrast, according to the code (UK corporate governance code, 2010), some aspects are shown to enhance independence of the Non-executives. For example, no bonus was paid for these Non-executives during the year and none of them was included in the company’s pension contributions (Mulberry, 2011). The company’s internal ‘watchdogs’, three recommended sub-committees (Audit, Remuneration and Nomination) (Pierce, Personal Communication, 2011) are established by Mulberry, with a combination of Remuneration and Nomination body.Additionally, both committees are chaired by Non-executives and effects of the committees are related to the independence of these Non-executives (Mallin, 2004) which has been discussed above. Moreover, the responsibility appointing is reasonably complying with the code (2010). In specific, the Audit Committee is entitled to check issues regarding to the company’s financial affairs, while Nominations and Remuneration is responsible for employment terms and conditions and the remuneration (Mulberry, 2011).However, the numbers and identities of other committee members are not mentioned in the report, which interfere our assessment of Mulberry sub-committee structure and quality. 2. 4. 1 Risk & control management In this part, COSO Internal Control – Integrated Framework (COSO, 1994) is sited as the principal structure to consider Mulberry’s risk control and management. Control Environment A formal system is required make sure the risks are appropriately evaluated and controlled in board level (Tricker, 2009). It is manifested in the report that the Board is fully responsible for Mulberry’s internal risk (Mulberry, 2011).Specifically, Directors pay great attentions to the control throughout the comprehensive aspects of the company’s business running and make it available in practice. These states, though quite simple with only few sentences, clarify the Board’s serious attitude to risk control. Additionally, increasing literature viewpoints in recent years call for â€Å"a formal system to ensure that risk is properly assessed board to give assurances that systems are in place to handle corporate risk in their regular corporate governance reports to shareholders† (Tricker, 2009:328).For Mulberry, the control system was established and the report model well fit the requested as mentioned. Specifically, the control system mainly consists of subsystems including budgeting, actual running results comparison, forecast and review (Mulberry, 2011). Also, the information is reported to shareh olders twice a year (Mulberry, 2011). Risk assessment and control activity First of all, as a result of continuous recession in the UK economy which leads to sales reduce in domestic market, Mulberry considers relieving from the decrease risk by international expansion (Mulberry, 2011).It is reasonable that they concern about the negative impact of recession in the UK (OECD, 2010). However, it seems lack considered by their merely switching to international market because the international market is much more complex with various risks involved (Hollensen, 2006), for example, local regulation limitations, economic environment in foreign market, competitors, customer preference diversity and so on (Kotler, 1994). Also, failure of the global risk transfer may occur that leads to even serious financial crisis for Mulberry. Secondly, terrorist attack, as regarded a principle risk by Mulberry, is related to warehouse disruption.The company tries to prevent it by developing â€Å"a busin ess continuity plan† (Mulberry, 2010). However, it is illogical to take terrorist attack as a major risk, which is a rarely happened incident. Moreover, there is no any further explanation about the so called ‘business continuity plan’ solution. Conversely, an improved warehouse control and management system accompanying an emergency program may be a better approach to prevent the risk. Besides, the risk may be more sensible to be associated with stock disruption or supply chain failure (Aon, 2007) rather than terrorist attack as is stated.On the other hand, key personnel loss is mentioned in the report with simple solutions of remuneration review and succession preparation. However, either the reasons or the details are not revealed. So it is uncertain that if the methods are valid or not. For example, if the loss was caused by unreasonable decision making caused by the arbitrary executive as we mentioned above, then either these ways can hardly solve the problem . As to the online system establishment and accomplishment, Mulberry involves more senior managers for supervising and impose carefully test to reduce the risk of system implement failure which is quite reasonable.With increased attention paid by senior managers, staffs in relative department will do the task more carefully. Also, comprehensive test further guarantees the system implemented successfully. Finally, it is mentioned in the report that the company intends to solve the risk by building a ‘natural hedge of Euro and US Dollar denominated sales and purchases’ (Mulberry, 2011:12). This sector involves professional knowledge about the currency policies and financial operating. Unfortunately, we are lack of knowledge in this area. Hence we would not analyse this issue in depth. . 4. 3 Information and Communication The company includes an information and reporting subsystem in the integrated internal control procedure (Mulberry, 2011), which obviously, is used for c ollecting and conveying relative information. Furthermore, since the internal control is taken charge by the Board at the top of the company’s management layer, it is essential to ensure the effectiveness of information collecting and communication in time according to COSO framework (1994). However, relative details are not mentioned for the assessment and herefore, the facts for the effectiveness are unsure. 2. 4. 4 Monitoring According to COSO Framework (1994), there are two approached for monitoring, one is undertaking it along with the ongoing activities, the other is put it into a separate process. Mulberry adopts the later approach by putting the monitoring process separately. However, a combination of both approaches is recommended in COSO framework (1994), in order to ensure the effect of internal control. In other words, it can be more sensible for Mulberry to develop monitoring affairs in the whole business running procedure.Moreover, the internal audit is function ed by the Board (Mulberry, 2011), for which the details are not given in the report. For example, factors like how the deficiencies been detected and conveyed upstream to the Board are not revealed. Thus the monitoring effect of Mulberry internal control can not be evaluated comprehensively through the report itself. 3. Conclusion From the information above, we can see Mulberry made efforts for market place on the Uk market during the year of 2010 to 2011 and managed each aspect of overseas development.In 2010, Mulberry has become aggressive in invest oversea markets and online stores. As a result, the income of Mulberry has created its new page for share price. However, as other companies, Mulberry has its flaws and drawbacks. Firstly, there is no debt existed in Mulberry; therefore, the investment could be limited. The main funding of Mulberry is internal funding. Mulberry has experienced extraordinary successful times since 2009, which contributed to the significant increase in s hare price. However, the higher share price can be a double-edge sword which might attract many investors as well as scare them.After analyzing the probability of return and the extent of risk, Mulberry is a company worth investing. Nevertheless, it is necessary to mention that it would be much better to choose a long-term investment than a short one. And Mulberry has a series of solutions to solve the risks that existing in its operating process and markets. Reference Anderson, R. 2004. Risk Management and Corporate Governance: The Importance of Independence and Financial Knowledge for the Board and the Audit Committee Anonymous. 2007. The body shop design: An evolving retail brand identity†, Strategic Direction, 23(11), p9-11. Aon (2007), â€Å"Enterprice Risk Mangement-Aon Insurance Bookers† [Online]. Available  from: www. aon. com/us/busi/risk_management/risk_consulting/ent_risk_mgmt/default. jsp [Accessed  on:  4/12/2011]. Adam, T. & Goyal, V. K. 2008. Ã¢â‚¬Ë œThe Investment of Opportunity Set and Its Proxy Variables’. The Journal of Financial Research. 31, 1, 41-63. Akhigbe, A. and Madura, J. ,1996. ‘Dividend Policy and Corporate Performance’. Journal of Business Finance & Accounting. 23, 9&10, 1267-1287.COSO Framework 1994 Collier, P. M 2009, Accounting For Managers. Interpreting Accounting Information for Decision-Making. Third Edition. Dyson, J. R. (2001). Accounting for non-accounting students, Essex: Pearon education Limited. Fonseka, M. M. and Tian G. L. , 2011. ‘What factors motivate the analysts stock recommendation in a small emerging market? Evidence from Sri Lanka’. African Journal of Business Management. 5, 26, 10908-10920. Gillespie, I. & Lewis, R. &Hamilton, K. 2000. Principles of financial accounting, Essex: Pearon education Limited. Goyal and Park,2002.Board leadership structure and CEO turnover, Journal of corporate finance, 8, p49–66. Governance Code 2010, The UK Corporate Govern ance Code, Financial Reporting Council, London. Hollensen, S. 2006. Marketing Planning: a global perspective, Maidenhead: McGraw-Hill Education. Ince, O. S. and Porter, R. B. , 2006. ‘Individual Equity Return Data from Thomson Data Stream: Handle with Care! ’. The Journal of Financial Research. 29, 4, 463-479. Kotler, P. 1994. Marketing Management: Analysis, Planning, Implementation, and Control (8th Ed. ). New Jersey: Prentice-Hall, Inc. Kothari, S.P. and Shanken, J. 2003. ‘Book-to-market, dividend yield, and expected market returns: A time-series analysis’. Journal of Financial Economics. 44, 169-203. Mallin, C. A. 2004. Corporate governance, New York: Oxford University Press Inc. Tricker, B. 2009. Corporate Governance: Principles, Policies, and Practices, New York: Oxford University Press Inc McKinsey, C. 2002. Investor opinion survey on corporate governance. London: McKinsey &CO. Muresan, E. R. and Wolitzer, P. Organize your Financial Ratios Analysis wi th PALMS (September 20, 2004). EMuresan Working Paper No. 2-01. Available at SSRN: http://ssrn. com/abstract=375880 or doi:10. 2139/ssrn. 375880 OECD (2011), OECD Economic Surveys United Kingdom MARCH 2011 Pierce, B. 2011. Personal Communication, Course Lecture 1 Nov 2011. Sheffield: The University of Sheffied. The telegraph,2007, Crisis may make 1929 look a ‘walk in the park'. [Online]. Available  from:http://www. telegraph. co. uk/finance/newsbysector/banksandfinance/2821629/Crisis-may-make-1929-look-a-walk-in-the-park. html [Accessed  on:  01/12/2011]. Annual report of Mulberry plc. 2011 Annual report of Mulberry plc. 2007

Saturday, September 28, 2019

Battle of Marathon Essay

In 490 B.C.E. the Battle of Marathon was a brief but important event in the war between the Greek city-states and The Persian Empire. The results of the battle had unforeseen effects on Athens and the future of Western Civilization. The Greek ‘Golden Age’, centred in Athens, brought about new forms of art, the foundations of future philosophy and redirected literature and drama. The achievements of the Athenians during this period were directly connected to the inspiration and prestige (which later translated into power) fuelled by the events at Marathon. How the events of a single day changed the entire course of Western Civilization is hard to fathom but obvious when one looks at the aftermath of that fateful event. The revolts of a few Greek cities of Ionia were what initially sparked the Persians interest in Athens, Attica and the Peloponnese. When Athens sent a small fleet in support of the Ionian rebels they immediately gave Persia a new target for further expansion. The failure of the revolts and the ruin of Sardis and Miletus shocked the Greek world. The Persians now thought, â€Å"if Miletus had been the glory of subject Greece, Athens was the golden gate to free Hellas. A bauble, perhaps, beside the treasures of the empire, but a tempting one.† Now not only did the Persian king Darius want revenge against the Athenians he wanted the entire Greek world to be integrated into the Persian Empire. In 490 BCE Darius finally advanced towards Greece. After the capture of Eretria, confident of their success, the Persians sailed on to Attica; and under the advice of Hippas* landed at the bay of Marathon, 26 km north east of Athens. When the Athenians received news of the Persians landing, they sent a runner (Philippides) to Sparta asking for support. They knew support would not get to them before the Persians decided to move so the Athenians then made â€Å"one of the most fateful decisions ever taken by a democratic government in ancient Greece. It was to advance and engage the Persians at their point of invasion, rather that to sit tight and try to hold the city.† . This decision was a radical one for a few reasons: the Athenians were highly outnumbered and historically, according to the historian Herodotus, the Greeks had never stood their ground against a Persian attack. Every major battle during the six years of the Ionian revolt demonstrated that the  Greeks preferred to defend their cities rather that fight out in the open. For these reasons the Persians were justifiably optimistic about their ability to defeat the Greeks. Upon the Athenian arrival at their base camp, away from the bay, they were joined by troops from the Athenian ally Plataia (about one thousand). There were 10,000 men in the Athenian army; a general represented each 1000. The ten generals of the army debated over a course of action, either to stay and meet the Persians as they advance or to attack them and try to take them by surprise. Miltiades* overcame the deadlock by appealing to the Polemarch Kallimachos who had an equal vote on the board of generals and convinced him to attack. Miltiades waited until the day of his prytaneia*, the day which he had supreme control over the entire army, to attack the Persians at their base camp. The Persians were taken by surprise and being unprepared, retreated back to their ships. While the Persians fled to their ships a point when only a narrow passage of beach separated the sea from a marsh was passed, it was here that around six thousand men from both sides were killed, the overwhelming number were Persians. Herodotus reported the casualties of the Greeks amounted to 192 Athenians, and an unrecorded number of Plataeans and slaves, the Persians lost 6400 men in total. The Greeks pursued in an attempt to capture the Persians ships but all but seven escaped. The Persians changed their course of action and sailed around to attack the now undefended city of Athens from the sea. The Athenian army was force to march the 26 km back to Athens in haste to defend the city. They reached the city and the Persian fleet seeing the defenders had returned, did not land but turned and headed back to Asia. The victory at Marathon and the successful defence of the city, gave the Athenians a sense of moral superiority and pride. In later battles of the Persian War, at Thermopylai and Salamis, the highly regarded Spartans and those of the Peloponnese were largely in control of strategic moves. Although still a major force in every battle, Athens and her allies were outnumbered and thus followed Spartan command. After the second occupation of Athens after the battle of Salamis, the Athenians gave Sparta an ultimatum due to a lack of Spartan support. â€Å"If the Peloponnesians wanted  Athens’ navy, they must save Athens’ land.† Because the Athenians had more damage to recover from it brought stronger confidence and overall pride for them once the city got back on its feet. The Spartans, Corinthians and other Peloponnesian allies now had reason to fear Athens growing naval power and its capabilities now that the city was repaired and invigorated with a renewed sense of pride. This is the point that we see the beginnings of a shift in the balance of power and influence between the city-states. When the Ionian states adopted the Athenians as leaders, as opposed to the Spartans who had been pre-eminent for a long time, the rise of the Athenian influence began to show. For the purpose of protecting all Greeks from a further Persian attack, a league was formed, of which Athens was now the leader. The league included all Aegean states in the interest of their common welfare, and was called The Delian League. At first it was as a leader that Athens lead the allies, who sent members to a general congress, in discussions of further campaigns against the Persians. But that would all change when other city-states adopted the Athenian form of government, democracy, either by force or voluntarily. Inevitably Athens became the leader of what was now an Athenian Empire. When Athens imposed their â€Å"superior† form of government onto other city-states it was no longer a league of self-governing city-states but a league ruled by one. The league, which was formed for the purpose of protection, now became the means for Athens to spread democracy. The Athenian Empire gave Athens a feeling of superiority; it felt that she had the superior form of government, superior ideals, culture and economic practices; that sense of superiority all traced back to the victory at Marathon. â€Å"Suppose, then, that we had never done anything but fight at Marathon – in point of fact we have done much besides: more than any other people of Greece – but just suppose; then Marathon alone would be enough to qualify us not only for the privilege we are claiming but for others too; for in that fight we stood alone against Persia – we dared a mighty enterprise and came out alive – we defended forty-six nations. Do we not, for this act alone, deserve the place of honour†¦Ã¢â‚¬  From the Athenian Empire and its attitude came many great things that had an unquestionable effect on the future of western civilization. Pericles, a famous name in Athenian politics, is a direct result of the Athenian Empire and all its ideals and attitudes. Pericles took advantage of Athens position of power and used money from the Delian League to fund the construction of major pieces of architecture in the city. Without Pericles there would be no Parthenon or Propylea, and Athens might now have gained the prestige it had during its Golden Age. Athens golden age was a direct result of the wealth and prestige of empire; without it Athens may not have reached the point where it became the educational and cultural centre of the Greek world. From this centre came great thinkers and playwrights; western civilization gained philosophy, Greek drama and literature, science and democracy. The Battle of Marathon, although only a single event, had an unquestionable impact on western civilization. Marathon allowed Athens to raise itself to a position of prestige and importance in the Greek world. The Athenians were given the opportunity to become culturally, politically and economically the centre of the Greek world because of the result of the battle of Marathon. Without the Athenians daring strategic move western civilization as we know it today would not be the same.

Friday, September 27, 2019

Federal required security within federal buildings Research Paper

Federal required security within federal buildings - Research Paper Example This paper delves into this topic of federal security within federal buildings. Federal buildings refer to any facilities owned or leased by the General Services Administration. Federal facilities’ security includes physical security assets for example security guards (both contracted and federally employed), close-circuit television cameras, and barrier material (Smith, 2). Reese and Tong explain that federal building security comprises of activities such as the everyday interaction of Federal Protective Service (FPS) and its federal clients, the federal agency interaction with contact security guard companies and the coordination between the FPS and United States Marshals Service (USMS). Federal agencies communicate with each other and local, state and private sector bodies in the coordination of federal building security. Reese and Tong further explain that through its Public Buildings Service (PBS), the General Services Administration (GSA) is the chief agency of real property and asset management of the federal government. By FY2006, the agency’s real property portfolio consisted of approximately 8,847 structures and buildings, with a replacement value of approximately 68.8 billion dollars. Other than the General Services Administration, twenty-seven other federal agencies have autonomous leasing and landholding authorities, which assist them in constructing or acquiring particular kinds of buildings. The General Services Administration is in charge of the construction as well as design of its buildings, in addition to being in charge of repairs and alterations to facilities that are already in existence. Assuring federal employees’ physical safety as well as that of the private nationals who frequent buildings that the federal government has leased or owns is a prime goal of the Gene ral Services Administration (Smith, 2). However, before the

Thursday, September 26, 2019

ADD in Adult Hispanic Women Research Proposal Example | Topics and Well Written Essays - 1750 words

ADD in Adult Hispanic Women - Research Proposal Example are verified sufferers of ADD and ADHD. IT has been learnt that less than 25percent of the American population undergo this epidemics without any treatment or diagnosis.CONCLUSIONS: The data of last twenty five years suggest that the percentage of the diagnosed patients with ADD and ADHD has increased significantly, and it is suspected that this rising trend will continue in coming years. Hispanic population within United States is either socially deprived, illiterate or trapped under immigration laws, therefore the proportion of the exact Hispanics within U.S. suffering from ADD and ADHD shall never be precisely estimated.Recent study was conducted by UnitedHealth Group's Evercare organization and the National Alliance for Caregiving, the intent of this research was to analysis the impact of AHAD and ADD among female Hispanics. During research it was identified that more than 36percent of the Hispanic women population looked after an older loved one, this percentage is greater than the average percentage of all U.S which stands at 21 percent. As per Evercare Study of Hispanic Caregiving, "largest comprehensive look at Hispanic caregivers, also revealed that caregiving caused a major change to the working situation of Hispanics, which could have dramatic personal implications as the current fiscal crisis continues to unfold in the United States". The emotional and physical count of caregiving is suspected to influence the local and national economies, which is evident as "more than eight million Hispanics provide care to older loved ones nationwide". During research it was concluded that the availability of "additional resources and tools-in Spanish-are necessary to help them care for their loved ones" (Frances, 1999). As per study, more than 70percent of the female Hispanic caregivers belief that "important that caregiving information be provided in Spanish", they also sought arrangement of training sessions, these sessions shall assists the female population in learning caregiving skills effectively. Introduction Numerous cases of attention deficit hyperactivity disorder (ADHD) in Hispanic adults' females have been discovered, "there is a paucity of controlled pharmacological trials demonstrating the effectiveness of compounds used in treatment, particularly non-stimulants". Recent research was conducted to evaluate the "anti-ADHD efficacy of bupropion in adult patients with DSM-IV ADHD". In this research "double-blind, placebo-controlled, randomized, parallel, 6-week trial comparing patients receiving sustained-release bupropion to patients receiving placebo" (Frances, 1999) were evaluated. A standardized structured psychiatric instrument was used for the diagnosis of ADHD. The measurement of improvement was conducted through separate assessment of "ADHD, depression, and anxiety symptoms at baseline and on periodic basis". Bupropion has been found as effective drug against ADHDH and ADD. As per the findings of American Academy of Child and Adolescent Psychiatry, the influence of the bupropio n as an active anti-agent for ADHD has not been supported by substantial evidence, therefore the impact of bupropion on ADHD is under investigation, however hopes for improvement is

Caffeine and the Brain Term Paper Example | Topics and Well Written Essays - 1250 words

Caffeine and the Brain - Term Paper Example Generally CNS stimulants are addictive. The drugs that fall under this category include nicotine, methamphetamine and caffeine. Dextroamphetamine and Methylphenidate are prescribed medications. They are used in the treatment of attention deficit hyperactive disorder (ADHD). They are also used to treat narcolepsy. Overdose of these drugs can cause hallucinations, fast breathing, weakness in the muscles, aggressive behavior, coma, among other effects. If these drugs are taken in large doses or over a long period of time the user may become addicted to them. Many over the counter pills used for treating headaches have caffeine as their main ingredient. Pills that also help the user to stay awake for a considerable long period of time also list caffeine as a major ingredient. Other common uses include diet pills and medication for the common cold. The concentration of caffeine in these common medications is less specific than those of prescribed drugs. Caffeine produces similar symptoms like those caused by prescribed stimulants. Even a small dose can affect the brain and nervous system. It also acts on the heart, bladder and muscular movements. Ingesting small doses, however, does not result in problems. Persons who take coffee everyday take a longer time to get a certain effect when compared with non drinkers or occasional users. Larger doses can result in nervousness, palpitation, nausea, insomnia and headache. There are other adverse effects associated with larger doses. Persons using the drug for the first time and ingesting large doses may end up having caffeine jitters, convulsions and even tachycardia. Taking extra large doses of the drug can be fatal. Taking more than 5,000 mg at any one time or at short intervals will be fatal. Studies have shown that a daily dosage of up to 400 mg per day is unlikely to cause any adverse effects (Nawrot et al.), except for women who are considering pregnancy as well as children. The adverse effects high

Wednesday, September 25, 2019

TSA career Research Paper Example | Topics and Well Written Essays - 500 words

TSA career - Research Paper Example work, how these security threats are handled, the level of training necessary for such a job, which licenses or certificates are required, the existence of continuing education, and the extent to which professional development organizations for such a career exist. Firstly, with respect to the type of threats that a practitioner of this profession might encounter, they can of course be concentric upon having the potential to directly serve in the front lines of the fight against terrorism. As such, but a few potential threats that a practitioner might encounter would be concentric upon discovering explosives, weaponry, dealing with dangerous individuals, and seeking to placate unruly and/or frustrated passengers that are aggravated by the delays and inconveniences caused by the necessity to painstakingly check all passengers and carryon luggage. With respect to how a person in such a line of work addresses such security threats, the answer to such a question segues nicely into the third question regarding what training is necessitated to become a TSA agent. In order to equip the applicants with the level of expertise they will need in order to perform the functions of their job, the TSA training regimen requires that all students graduate from a mandatory 1-2 weeks of classroom instruction as well as participate in between 2-3 weeks of OTJ training overseen by a supervisor (Airport Security Careers 2012). However, like many federal positions, training is not something that is merely given at the outset of the career; rather, it is ongoing and requires constant metrics to be met through continuing education. Similarly, certificates of completion of the training and continuing education are constantly tracked. However, before starting one’s career as a TSA agent, it is necessary for one to successfully complete a background examination and credit history verification to ensure that the applicant has their financial affairs in order and does not have any

Tuesday, September 24, 2019

Plea bargaining Essay Example | Topics and Well Written Essays - 250 words

Plea bargaining - Essay Example However, if the criminal knows he will most likely be pleading guilty to a lesser crime than the crime he is committing, the punishment for the lesser crime might not be enough to prevent him from committing it. While I agree that it is certainly true that many criminals will get away with a lesser charge, I think the harm caused by this is mitigated by the fact that more guilty criminals will be convicted. This is because it seems that someone who knows they are guilty is likely to accept a lesser charge, even if there is a possibility they will be acquitted. The second issue has to do with the concern that innocent people will plead guilty to lesser crimes. Although the defendant may know he is innocent, instead of maintaining this position, he may feel coerced into accepting the plea bargain. The innocent person may feel it’s not worth the risk to face the greater charge, and feel almost forced to plead guilty to a charge he never committed. I agree this is a serious moral issue, for if large amounts of people are pleading guilty to crimes they did not commit, then the credibility of our justice system is undermined. Despite moral criticisms plea bargains continue to play a key role in our justice system. Prosecutors still often benefit from the ability to get more convictions, while defense attorneys benefit from being able to get their clients a better deal. Perhaps more regulation needs to be provided to prevent coercion of innocent people. It’s doubtful though, that plea-bargaining will ever be eliminated from our legal system completely, and it will likely remain

Monday, September 23, 2019

HR Performance Issues and Motivation Essay Example | Topics and Well Written Essays - 1000 words

HR Performance Issues and Motivation - Essay Example HR management literature has well documented the relationship between motivation, job satisfaction, and work performance. Using the theories of motivation, this paper will analyze the inextricable relationship between performance and motivation in the modern business environment. Â  In order to clearly understand the relationship between employee performance and motivation, it is better to consider a real-life situation. For instance, a sales executive (Jim) who has been working at a leading MNC for the last four years fails to meet his sales targets continuously despite periodical increases in his salary and incentives. Jim had acquired his post graduation degree from the Harvard Business School with the 10th rank holder status, and subsequently, he was hired by this MNC through a campus interview. For the first three years, Jim performed outstandingly and received the ‘best performer of the year’ award two times from the sales manager. He was excited to work overtime and performed duties and responsibilities beyond his job requirements. Considering his caliber and short-term achievements and the exemplary commitment to work the management doubled his salary incentives and allowed him free food and accommodation and a brand new company vehicle. In addition, the company agreed to pay his phone and electricity bills. In spite of those attractive offers, Jim’s performance began to decline by the end of the last year. Currently, he is not interested to work overtime and is frequently absent from the office. Jim failed to meet even his sales target for the last five months.

Sunday, September 22, 2019

Monna Giovanni and Wife of Bath Essay Example for Free

Monna Giovanni and Wife of Bath Essay The personas crafted by Boccaccio and Chaucer are different. Chaucer’s Wife of Bath receives its recognition from her smart characterization that portrays her as unconventional and eccentric woman with certain strident elements whereas Boccaccio’s Monna is described as a creature of elegance and of high moral stature. Both these women are manifestation of two different faces and facets of the same age. One manifestation of the age is conventional i. e. Monna Giovanni who is utterly loyal and faithful whereas other illustration is unconventional that does take into consideration the conformist norms and values of the contemporary era. Both Wife of Bath and Monna Giovanni hail from higher social stratum. Wife of Bath’s attitude toward men is domineering and she advises other women to do so. She considers them lecherous and mean due to their indifferent attitude toward women. She refers to them as suspicious and lusty-fellows. (234-378) Her own attitude toward men is paradoxical. She is offensive toward them and considers it a good practice to get best out of men. But she expects patience from men in anger and urges them to emulate the well-known tolerance of Job. She expects fidelity from them e. g. she hates the infidelity of her fourth husband but never assure them her own fidelity. In contrast to Wife of Bath’s thoughts toward men, Monna’s attitude toward men is in conformity with the socio-cultural standards. Wife of Bath is does not behave in conformity with the social norms and traditions of the contemporary era. She does not meet the expectations of proper manners of a wife. She married to three aged but well-off husbands in her youth and inherited their wealth. She is of dominant nature and tried to override her fourth husband who was of her age. She had a bad experience with her fifth husband. All of them are now dead but Wife’s hopes are alive to marry anew. Through the summary of her married life (459-462), Chaucer portrays her as clever and selfish woman who unlike the common woman of her age does not marry due to matrimonial and ethical purposes but it was her materialistic desires that make her to marry old husbands. But again her attitude toward marriage is paradoxical as she loves her fifth and last husband due to his expertise in sexual relationship. Wife of Bath has had extramarital relationships as well (lines 461, 467, 476). Unlike Wife of Bath, Monna Giovanni is an epitome of chastity and virtuous. She did not notice the temptations of sentiments and paid no heed to the instigations of her lovers. Boccaccio says in this regard; â€Å"However the lady, no less virtuous than fair, cared not a jot for what he (Federigo) did for her sake, nor yet for him. † She marries and remains faithful to her husband till his death. Furthermore, Wife of Bath takes love and marriage in term of economic benefits and thus equalizes it to prostitution. She uses the economic terminology to denote to the marriage and matrimonial relationships. In contrast to Wife of Bath, Monna considers marriage socio-cultural obligations and takes pride in matrimonial bliss. Her faithfulness to her husband is a result of matrimonial accord. After her husband’s death, she does not usurp his inheritance but forward it to their only son. The only similarity between these characters is their stylish and trendy life. Wife of Bath is a fashionable lady adorned with the grace of the contemporary costumes and ornaments. But Chaucer provides certain references where she seems over-dressed. Monna Giovanni was â€Å"in her day held rank among the fairest and most elegant ladies of Florence†. But we do not find her snobbish and over-dressed. There is a feeling of superficiality about the Wife whereas Monna’s character carries elegance and grace with it.

Saturday, September 21, 2019

Overview of Leadership Personality Theories

Overview of Leadership Personality Theories CHAPTER I INTRODUCTION â€Å"The study of leadership rivals in age the emergence of civilization, which shaped its leaders as much as it was shaped by them. From its infancy, the study of history has been the study of leaders—what they did and why they did it† (Bass, 1990). According to Keith Davis (1967), â€Å"Leadership is the ability to persuade others to seek defined objectives enthusiastically. It is the human factor which binds a group together and motivates it towards goals†. Barnard in 1938, defined leadership as, â€Å"The ability of a superior to influence the behavior of subordinates and persuade them to follow a particular course of action†. Leadership has a range of definitions but at its simplest it is concerned with the ability to influence others to accomplish goals. The concept of leadership, and the study of the phenomenon, has its roots in the beginning of civilization. Various work-related variables such as work environment, worker motivations, leaders, managers, leadership style, have been the subject of study for almost two centuries. (Gregory Stone, Kathleen Patterson, 2005). The organizational focus of the leader emerged over this period, from organizations operating with an authoritarian style to ones that operate with a more comfortable work environment. Today, organizations are in a transit stage of empowering, encouraging and supporting personnel in their personal and professional growth throughout their careers. The focus of leaders has changed over time, which has influenced and shaped the development and progression of leadership theory (Gregory Stone, Kathleen Patterson, 2005). Researchers have examined leadership skills from a variety of perspectives. Early analyses of leadership from the 1900s to the 1950s focused on identifying the differences between the characteristics of a leader viz. a viz. a follower. Study findings suggested that no single trait or combination of traits fully explained the abilities of a leader. Later studies, examined the influence of the situation on leaders skills and behaviors. Subsequent leadership studies attempted to distinguish effective from non-effective leaders. These studies attempted to determine which leadership behaviors were exemplified by effective leaders. Leadership studies of the 1970s and 1980s once again focused on the individual characteristics of leaders which influence their effectiveness and the success of their organizations. The investigations led to the conclusion that leaders and leadership are critical but complex components of organizations. Leadership is necessary for a variety of reasons. On a supervisory level, leadership is required to complement organizational systems (Katz Kahn, 1978) and to enhance subordinate motivation, effectiveness and satisfaction (Bass, 1990). At the strategic level, leadership is necessary to ensure the coordinated functioning of the organization as it interacts with a dynamic external environment (Katz Kahn, 1978). Thus leadership is required to direct and guide organizational and human resources toward the strategic objectives of the organization and ensure that organizational functions are aligned with the external environment (Zaccaro, 2001). Research on leadership has been divided into 8 major schools (John Antonakis, Anna T. Cianciolo, Robert J. Sternberg, 2004): Trait School of Leadership (1900s) Behavioral School of Leadership (1910s) Contingency School of Leadership (1960s) Contextual School of Leadership (1960s) Skeptics (1970s) Relational (1970s) New Leadership (1970s) Information Processing (1980s) The trait movement gave way to the behavioral styles of leadership in the 1950s. This line of research focused on the behaviors that leaders enacted and how they treated followers. The well-known University of Michigan (Katz, Maccoby, Gurin, Floor, 1951) and Ohio State (Stogdill Coons, 1957) studies identified two dimensions of leadership generally referred to as consideration (i.e., employee-oriented leadership) and initiating structure (i.e., production-oriented leadership). Leader behaviors are often discussed in terms of whether the behavior is oriented toward (a) task processes, (b) relational dynamics, or (c) change. One consistent theme in the literature is that behaviors can be fit into four categories: task-oriented behaviors, relational-oriented behaviors, change-oriented behaviors, and what we refer to as passive leadership. Initiating structure represents task-oriented behaviors. It describes behaviors such as defining task roles and role relationships among group members, coordinating group members’ actions, determining standards of task performance, and ensuring group members perform up to those standards. They describe leaders as being clear about expectations and standards for performance, and using these standards to shape follower commitment, motivation, and behavior. Moreover, initiating structure discusses dealing with deviations from those standards via the use of structure and routines. Relative to initiating structure, consideration leader behaviors describe more relational-oriented behaviors. In particular, leaders high on consideration show concern and respect for individual group members, are friendly and approachable, are open to input from others, and treat all group members as equals (Bass, 1990). A common theme among relational-oriented behaviors is that the leader acts in ways that build follower respect and encourage followers to focus on the welfare of the group. It should be noted that certain aspects of transformational leader behaviors (e.g., individualized consideration) also consist of a relational orientation, which is a point that will be revisited later in the manuscript. Leader behaviors oriented toward facilitating and driving change in groups and organizations represent a third category of leader behaviors that is conceptually distinct from task and relational-oriented behaviors. According to Yukl et al. (2002), change-oriented leader behaviors encompass actions such as developing and communicating a vision for change, encouraging innovative thinking, and risk-taking The present study deals with two dimensions of Leader Behavior, Initiating Structure and Consideration Structure. â€Å"Initiating Structure reflects to the extent to which an individual is likely to define and structure his role and those of his subordinates toward goal attainment† (Fleishman Peters, 1962). It refers to the leader’s behavior in endeavoring to establish well-defined patterns of organization, channels of communication, and methods of procedure. Initiating structure refers to getting the job done. The individual who exhibits behavior highly oriented toward initiating structure is one who sees or recognizes the job to be done and more to accomplish it. This individual is task-oriented. He strives to fulfill the purposes of the organization, often at the expense of others concerned. Initiating structure reflects behavior which: Emphasizes the quality of work. Clarifies everyone’s responsibilities. Is continually planning to get everything done. Offers new approaches to problems. Is first in getting things started. Encourages the meeting of deadlines. â€Å"Consideration Structure reflects the extent to which an individual is likely to have job relationships characterized by mutual trust, respect for subordinates’ ideas, and consideration of their feelings† (Fleishman Peters, 1962). It refers to behavior indicative of friendship, mutual trust, respect and warmth in the relationship between leader and members of his staff. Consideration reflects concern for individuals in a group and their feelings. The individual exhibiting behavior highly oriented to consideration, tries to maintain close understanding between members of a group. This person is more concerned with group cohesiveness than with accomplishing specific purposes. Consideration is reflected by a person when he: Finds time to listen to others. Does little things to make it pleasant to work with him. Shows interest in others as persons. Compliments others for their work. Has an open ear. Has others share in making decisions. A combination of both initiation structure and consideration structure is the most productive type of leader behavior. A study conducted by Bruce M. Fisher and Jack E. Edwards, on ‘Consideration and Initiating Structure and their relationships with Leader Effectiveness† suggested that situations play a major role in determining the best suitable leader behavior. Leaders play a very important role in the formation and functioning of teams. Henderson and Walkinshaw (2002), defined the effectiveness of a team as, â€Å"The accomplishment of a desired result, especially as viewed after the fact† and the measure of effectiveness as â€Å"The extent to which a team meets the demands which are placed upon†. Work teams in organizations have three features. First, they are real groups – intact social systems, complete with boundaries, interdependence among members, and differentiated member roes (Alderfer, 1977). Second they have one or more group tasks to perform, producing some outcome for which members bear collective responsibility and whose acceptability potentially can be assessed. Finally such teams operate in organizational context. This means that the group, as a collective, manages its relations with other individuals or groups in the larger social system in which it operates. To perform well, a team must surmount three hurdles. It must: (1) exert sufficient effort to get the task accomplished at an acceptable level of performance; (2) bring adequate knowledge and skill to bear on the work; and (3) employ task performance strategies that are appropriate to the work and to the setting in which it is being performed (Hackman and Morris, 1975). Teams are formed for the express purpose of accomplishing critically important goals. Its formation does not automatically lead to performance. In fact, without significant and ongoing nurturing by the leadership of an organization, teams can actually make things worse. It is helpful to understand the building blocks required for a team’s success. Robbins and Judge (2012) describe a three dimensional model that articulates its foundation. Dimension 1 relates to the importance of Context. Organizations need to support the construction and sustainability of a team, and the team itself requires an environment of comfort for its members; psychological safety is essential so members can feel free to speak up and engage without ridicule. Performance feedback and motivational systems must also be in place. Dimension 2 suggests Composition is vital. In addition to knowledge, skills and abilities (KSAs) of its membership, the leader needs to focus on the peoples components as well Dimension 3 reveals Process is important. Teams must have clear purpose and specific goals. It is hard to motivate without all members having a clear idea of the direction the unit is heading. In addition, mechanisms and agreements must be in place to deal with conflicts that arise and/or the members who are not â€Å"getting it done† Since teams are a dominant feature in organizations, its effectiveness is paramount to the success of the business. To that end, leaders must understand the dimensions that make a team successful and then work diligently to make it happen. In addition, when teams derail, mechanisms must be in place to bring it back to life; it is the responsibility of the leaders’ to make it happen.

Friday, September 20, 2019

Audio Recording Essay -- audio sound

Thomas Edison was responsible for the first audio recording back in 1877, using a phonograph to record the impressions into a tin-wrapped cylinder. He promptly applied for a patent, and was granted one the next February. This first model held the field for a few years, until 1881, when Charles Tainter in Volta Labs developed the first lateral-cut records (similar to the vinyl records we’re familiar with). Unfortunately, he had not developed a method of playback, just recording. This held until 1885, when Tainter cooperated with Chichester Bell to create vertically-cut cylinders coated in wax as the medium for the new recording practice. These had the unfortunate downside of being exceedingly fragile. Finally, in 1887 Emile Berliner developed another gramophone using a lateral-cut medium. This method had the added bonus of being easily duplicated through electroplating. These three models competed in the market until later that year, when Edison developed a battery-powered version of his gramophone. That same year, Berliner developed his means of mass-production, copying onto hard rubber. All gramophones at this point had a capacity of a few minutes per disc. In 1889, the Columbia Phonograph Company was organized (grandpappy to the modern Columbia Music), who was also the first publisher of a music catalog. The next year saw the fielding of the first jukebox, which pulled in over $1000 (in 1890!) in its first six months. 1893 saw the boom of Berliner’s model, to which ends he incorporated the Berliner Gramophone Co. A few years later he discovered a new shellac that proved a better medium than rubber. Around the same time, 1894 to be exact, the world saw Marconi’s first radio, which he promptly took to America and... ...han PCM tend to be susceptible to data loss because they reference the previous measurement and merely indicate the change between them. This is typically solved by enclosing multiple copies of the data in a single file. Although it defies common sense, it is actually more efficient to record a particular sound byte in ADPCM and enclose, say, four copies, than it is to encode a single PCM copy. Sources: Digital Recording Techniques – http://www.digital-recordings.com/publ/pubrec.html Giancoli, Physics Principles with Applications, 5-E Chapter 12 -- Applications – http://cwx.prenhall.com/giancoli/chapter12/essay2/deluxe-content.html HyperPhysics Concepts - http://hyperphysics.phy-astr.gsu.edu/hbase/sound/soucon.html Recording Technology History - http://history.acusd.edu/gen/recording/notes.html Sound - http://www.smgaels.org/physics/sound_1.htm

Thursday, September 19, 2019

The Reality of War in John Knowles A Separate Peace Essay -- Separate

The Reality of War in John Knowles' A Separate Peace In his book A Separate Peace John Knowles communicates what war really is. He uses a number of complex characters in a very complicated plot in order to convey the harsh, sad, cruel, destructive forces of war. The Characters Gene and Finny are used as opposing forces in a struggle between that cold reality of war-that is World War II in this story-and a separate peace. A peace away from the real war and all of the terrible things that come with it. Through their relationship, that is a struggle on both sides from the beginning, Knowles establishes the reality of war in all of its essence. Gene Forrester is established as the force of reality which is the war. This idea is established clearly in a lengthy speech Gene gives as the narrator of the story in Chapter Three: Everyone has a moment in history which belongs particularly to him. It is the moment when his emotions achieve their most powerful sway over him, and afterward when you say to this person "the world today" or "life" or "reality" he will assume that you mean this moment, even if it is fifty years past. The world, through his unleashed emotions, imprinted itself upon him, and he carries the stamp of that passing moment forever. (32) This statement explains that Gene must have something that is his "stamp." This stamp appears to define an individual-exemplifying what he stands for. It is found that this is true in the next paragraph where Gene continues, "For me, this moment-four years is a moment in history-war the war. The war was and is reality for me. I still live and think in its atmosphere" (32). Later in the same paragraph he goes on to say: America is not, never has been, and never will be wha... ...ovels." Studies in Short Fiction (Newberry College), vol. 1, no. 2, Winter 1964, pp. 107-112. McDonald, James L. "The Novels of John Knowles." Arizona Quarterly, vol. 23, no. 4, Winter1967, pp. 335-342. Raven, Simon. "No Time for War." The Spectator, vol. 212, no. 6827, May 1, 1959. p. 630. Weber, Ronald. "Narrative Method in A Separate Peace." Studies in Short Fiction (Newberry College), vol. 3, no. 1, Fall 1965, pp. 63-72. Witherington, Paul. "A Separate Peace: A Study in Structural Ambiguity." English Journal (NCTE), vol. 54, no. 9, December 1965, pp. 795-800. Wolfe, Peter. "The Impact of Knowles's A Separate Peace." University of Missouri Review, vol. 36, no. 3, March 1970, pp. 189-198. "School Reports." Times Literary Supplement, no. 2983, May 1, 1959, p. 262. "The Leap." Time, vol. 75, no. 14, April 4, 1960, pp. 96, 98.

Wednesday, September 18, 2019

Essay --

Schroeder 1 Hunter Schroeder Ms. Caturano Honors English 9 January 2013 Independent Reading: Connections Connection: Going to Extremes For Love The Hunger Games is set in world called Panem that was once America, before the Capitol was overcome in some unexplained, apocalyptic war. As punishment for that aggression, the remains were divided into 12 districts. Every year each district has to send one boy and one girl between 12 and 18 years old, chosen by lottery, to compete in a nationally televised event called â€Å"the Hunger Games.† The purpose of this is to create a mass killing spree with only one survivor. What really twists this storyline is when two tributes from the same district fall in love and fight to protect each other until they are the last ones left in the games. The two go to extreme measures to keep one another out of danger. â€Å"You're still trying to protect me. Real or not real," he whispers. "Real," I answer. "Because that's what you and I do, protect each other† (Suzanne Collins, The Hunger Games). Because the hunger games is such a gruesome event, the things Katniss and Peeta did for each other aren't typical things couples would give up for eachother. These two would share supplies and weapons along with going as far as killing off an attacking enemy. Seeing how far Katniss and Peeta were willing to go to be with each other gave me a better understanding of why Romeo and Juliet fought to never let anything get in between them. Even though Romeo is a Montague and Juliet is a Capulet and the two families have an ancient rivalry they did not let that stand in the way of being with each other. â€Å"O Romeo, Romeo! Wherefore art thou Romeo? Deny thy father and refuse thy name! Or, if thou wilt not, be but sworn my love, ... ...ena. â€Å"You love me. Real or not real?" I tell him, "Real.† (Suzanne Collins, The Hunger Games). Even though Katniss and Peeta are so young, they truly believe that they are in love. This changes my opinion of Romeo and Juliet and leads me to believe that they really could have been in love so young. Romeo and Juliet were a mere 13 and 14 when they claimed to fall madly in love and get married, but this was around the normal marrying age for that time period. â€Å"But, soft! what light through yonder window breaks? It is the east, and Juliet is the sun† (Shakespeare, Romeo and Juliet). In this time period, young people were very romantically mature and knew about love and did not just marry anyone because there was no such thing as divorce. This makes me think that Romeo and Juliet may have been in love and people were just very critical because the were of rival families.

Tuesday, September 17, 2019

Physics Archimedes Principle Lab Report

Measurement of Mass, Volume, and Density through Archimedes Principle Overview: The purpose of this experiment was to measure the density of a solid and a liquid using Archimedes principle. Archimedes is one of the greatest inventors and mathematicians of all time. The principle we used in this experiment was discovered when Archimedes stepped into a full bath tub. Using Archimedes principle, we were able to determine the density of a lead rod, water, and an unknown liquid.Physical Data: Name| MW (g/mol)| ? (g/cm3)| bp (? C)| mp (? C)| water| 18. 01 g/mol| 1 g/cm3| 100 ? C| 0 ? C| lead| 207. 2 g/mol| 11. 34 g/cm3| 1749? C| 327. 5? C| Equations: Spring ConstantF=-kxThe equation was used to calculate the spring constant of spring i. | Density? =massvolumeThis equation was used to calculate the density of an object. | Buoyant ForceB=? mg=? f VobjgThis equation was used to calculate the buoyant force of an object. | Experimental Procedure:ProcedureA: * Setup similar to the spring constan t lab * Use the same or a similar spring from the spring constant lab * Find the spring constant of the smallest spring used from previous lab if not already foundB: * Use the same metal rod from the Error of Propagation experiment and attach it to the bottom of the spring * Fully submerged the metal rod in a beaker of water * Record the displacement of the submerged object * Repeat several times making sure the object is fully submerged and steadyC: * Dry the object and then repeat part B with an unknown liquid| Observations * Used spring i.We worked with a different group so we used their spring with their known spring constant. * Used an iron rod, which is what the group we worked with used before. * Starting volume decreased after the first trial * Displacement in the unknown liquid was very similar to that of water| Data/Results: A: Spring constant: k=0. 023 N/m This was received from the group we worked with. B &C: Spring constant (spring i): 0. 023N/cm| Object| Mass (g)| Hang ing (cm)| Displacement in H2O (cm)| Displacement in unknown (cm)| Spring| Spring| 11. cm| 0| 0| Spring + 5g| 5| 15. 8| 15. 5| 16| Spring + 10g| 10| 17. 5| 17. 3| 17. 4| Spring +15g| 15| 19. 7| 19. 3| 19. 4| Spring +20g| 20| 21. 7| 21. 2| 21. 3| Spring +25g| 25| 24| 23. 2| 23. 3| Lead cylinder| 70. 71| 4| 38. 9| 39| Average| | 17. 11666667| 19. 34285714| 19. 48571429| Mass of lead in H2O (g):| 67. 2977| Volume of Pb (cm3):| 3. 422567703| Mass of lead in unknown (g):| 66. 1091| Density of unknown (g/cm3):| 1. 344283123| | | | Previously obtained volume lead (cm3):| 5. 455| Average density of Unknown (g/cm3):| 0. 843428048|Calculations: ? Mass of Lead Rodma=kx? m=(0. 023Nm)(0. 4)9. 8 m*s-1? m=9. 38Ãâ€"10-4 gThe mass of the lead rod was determined by using the spring constant formula. The spring constant of the spring was multiplied by the displacement, and then divided by gravity. | Volume of Lead RodB=? mg=? f VobjgVobj=? m? fVobj=9. 38Ãâ€"10-4 g1. 0 g/cm3Vobj=9. 38Ãâ€"10-4 gThe vo lume of the rod was found by dividing the mass of the zinc rob and the density of the fluid (water). | Density of UnknownB=? mg=? f Vobjg? f=? mVobj? f=7. 04Ãâ€"10-49. 38Ãâ€"10-4? f=0. 50gThe density of the unknown liquid was found by dividing the mass of zinc rob by the volume of the zinc rod. | Discussion: The objective of this experiment was to measure the density of a solid and an unknown liquid by using one of the oldest principles, Archimedes’ principle. For part A of the experiment, we were able to use the spring constant found from the previous lab, in order to help determine the change in mass and volume of an object, and the density of an unknown liquid. The spring constant that was found from the previous lab was 0. 23 N/m. In part B of the experiment, we were able to determine the change in mass of the lead rod from the air to the water and the volume of the lead rod. After conducting five trials, we were able to find the change in mass of the lead rod by using the spring constant formula of F=kx. After modifying the formula to solve for mass, we were able to find the change in mass for each trial by multiplying the spring constant and displacement of the lead rod in air versus water, then dividing by gravity. The average change in mass was found to be 9. 8X10-4g. Once we had found the mass of the lead rod, we were able to find calculate the volume of the lead rod by modifying the buoyancy force formula to solve for the volume of the object. Find that formula, we divided the mass of the lead rod by the density of water as shown in the table of literature. The average volume of the lead rod was found to be 3. 422 cm3. In part C of this experiment, we were able to determine the change in mass of the lead rod from air to an unknown liquid and the density of the unknown liquid.We used the same method in part B to calculate the change in mass of the lead rod. The average change in mass of the lead rod in the unknown liquid was found to be †¦ Since the volume of an object does not change when submerged in various liquids, we were able to use the average volume of the lead rod found in part B. then, we were able to find the density of the unknown liquid by dividing the mass of the lead rod by the volume of the lead rod. Average density of the unknown liquid was found to be 1. 44 g/cm3. Since the unknown liquid had an aroma of rubbing alcohol, we hypothesized that the unknown liquid was a mixture of rubbing alcohol and water. Using Archimedes principle, our hypothesis can be supported since the average density of the unknown liquid was 0. 843 g/mL. An alternative method for this experiment would be to set up the beaker so that the liquid level would be completely leveled, versus when a person lifts the beaker with an unleveled liquid level.A way a person could do this would be to place a book under the beaker with a leveled liquid level, so that the lead rod is equally and fully submerged in the liquid. Conclusion: The objective of this experiment was to determine the mass and volume of an object and the density of an unknown liquid using Archimedes Principle. For part A, we used the spring constant from the previous lab to help determine the mass of the lead rod in part B. The displacement of the lead rod from the air to the water was found in order to help determine the average mass of the lead rod.The average change in mass of the lead rod from air to water was 9. 38Ãâ€"10-4g. The average volume of the lead rod was 9. 38Ãâ€"10-7cm. In part C an unknown liquid was used. A similar method was used to determine the average change in mass of the lead rod in the unknown liquid, which was found to be 7. 04Ãâ€"10-4g. Since the volume of an object does not change in different liquids, the volume of the object found in part B was used in part C to help determine the density of the unknown liquid. The density of the unknown liquid was 0. 75g/mL.