A critical evaluation of the role of Friends of the Earth in the Essay

A critical evaluation of the role of Friends of the Earth in the development of policy responses to climate change in the United Kingdom - Essay Example Thus, one can easily relate Climate Change to the Global Financial Crisis, as the latter seems to be the deterring point behind the ignorance on the former. However, this isn’t the point where it can be established that Climate Change is a lost cause. Instead, a few examples can still be narrated where government involvement led toward policy responses, and that too legally binding in context to the state legislation. The scholarship on climate change indicates that government involvement with the issue is very critical to resolving the crisis at hand. Also, the efforts that are already being done must be rocketed by taking the crucial stakeholders into confidence. In other words, theoretical paradigms in climate change studies indicate that the social interest groups or volunteer organizations can play a positive role in bringing the issue on agenda, and once the issue transforms into a political one legislations are bound to be designed. However, certain steps need to be fol lowed which includes; developing or identifying non-environmental leadership, initiating action in the community, changing lifestyles and lastly transforming it into a global effort. Policy responses on the issue of climate change will only result after the intermingling of three actors; normative rationale on part of government, citizen`s will to take action and accurate consultation designs by organizations/individuals having expertise. To prove the point, a critical analysis of the organization functioning actively in the UK, the Friends of the Earth can be quite insightful. The organization reached a huge breakthrough in 2008, when after many concerted efforts; they were able to incorporate the Climate Change Act of 2008 in the UK, with binding legislations aiming at controlling the environmental damages via limiting carbon emitting gases. The organization i.e. Friends of the Earth initiated their campaign by publishing

The History Of Cleopatra VII

The History Of Cleopatra VII Cleopatra VII was the last person to rule Egypt as an Egyptian pharaoh. After her death Egypt became a Roman province. She was a member of the Ptolemaic dynasty (a royal family which ruled Egypt during the Hellinistic Period-323 BC to 146 BC) of Ancient Egypt. She is therefore considered to be a descendant of one of Alexander the Greats generals who had seized control over Egypt after Alexanders death. Cleopatra learned Egyptian unlike other Ptolemies who spoke Greece and refused Egyptian and represented herself as the reincarnation of an Egyptian Goddess. Cleopatra VII ruled originally with her father Ptolemy XII Auletes (commonly name as Auletes and who ruled Egypt from 80 to 58 BC) and later with her brothers, Ptolemy XIII and Ptolemy XIV. Later she became a sole ruler. As pharaoh, she kept good relations with Julius Caesar (Roman General who played a critical role in the transformation from Roman Republic to Roman Empire) that solidified her grip on the throne. After Caesars assassination in 44 BC, she aligned with Mark Antony in opposition to Caesars legal heir and she bore the twins Cleopatra Selene II and Alexander Helios, and another son, Ptolemy Philadelphus. Mark Antony was defeated by Octavian (the future emperor Augustus) and hence Egypt became the Roman province of Aegyptus. Though Cleopatra was an Egyptian pharaoh but she basically belonged to the Ptolemaic dynasty which was Hellenistic. Cleopatras mother language was Greek but still was the first ruler of the dynasty to learn Egyptian. She also adopted Egyptian beliefs and deities. Her patron deity was Isis (a Goddess in Ancient Egyptian religious beliefs) and thus was considered the re-incarnation and embodiment of the goddess. Her death marked the end of the Ptolemaic Kingdom and Hellenistic period and the beginning of the Roman era in the eastern Mediterranean. The above picture displays the bust of Cleopatra VII who is depicted as a great beauty and her legacy still survives in various works of art and dramas. William Shakespeares Antony and Cleopatra, Jules Massenets opera, Clà ©opà ¢tre are some examples of dramatizations inspired by Cleopatras life. REIGN 51 BC TO 12 August 30 BC SUCCESSOR None (Egypt was annexed by Rome) SPOUSE Ptolemy XIII Theos Philopator Ptolemy XIV Julius Caesar (not legally wed) Mark Antony FATHER Ptolemy XII Auletes MOTHER Cleopatra V of Egypt BORN 69 BC DIED 12th August 30 BC (aged 39) BURIAL Burial was done in Alexandria, Egypt Cleopatra in the Roman Civil War In the Roman civil war between the Caesarean party which was led by Mark Antony and Octavian and party led by Marcus Junius Brutus and Gaius Cassius Longinus who assassinated Julius Caesar. Cleopatra sided with the Caesarean party because of her past. Brutus and Cassius together and sailed to the East of the Roman Empire and conquered large areas and established their military bases. Now Cassius wanted to invade Egypt to seize the treasures of that country and to take the revenge from the queen as she refused his request to send him supplies punish the queen for her refusal of Cassius request to send him supplies and her support for Dolabella (a Roman General). At that time in Egypt there was famine and an epidemic which became an important reason why Cassius thought that Egypt could easily be conquered. But still he could not execute the invasion of Egypt because at the end of 43 BC Brutus called him back to Smyrna (an ancient city located at a central and strategic point on the Aegean coast of Anatolia now located in Turkey). Cassius tried to blockade Cleopatras way to the Caesareans. Nevertheless Cleopatra sailed with her military from Alexandria to the west along the Libyan coast to join the Caesarean leaders but she was forced to return to Egypt because her ships were damaged by a violent storm and she became ill. Relationship with Julius Caesar Cleopatra became Caesars mistress, and nine months after their first meeting, in 47 BC, Cleopatra gave birth to their son, Ptolemy Caesar, nicknamed Caesorian , which means little Caesar. At this point Caesar cancelled his plans to annex Egypt, instead backing Cleopatras claim to the throne. After a war lasting six months between the party of Ptolemy XIII and the Roman army of Caesar, Ptolemy XIII was drowned in the Nile (longest river of the world situated in Egypt) and Caesar restored Cleopatra to her throne and assigned her younger brother Ptolemy IV as her new co-rule. Although Cleopatra was 21 years old when they met and Caesar was 52, they became lovers during Caesars stay in Egypt between 48 BC and 47 BC. Cleopatra claimed Caesar was the father of her son and wanted his son to be the heir of Julius Caesar but instead of making his son caesorian, his heir, he chose his grandnephew Octavian. But Caesar even erected a golden statue of Cleopatra represented as Isis in the temple of Venus Genetrix (the mythical ancestress of Caesars family), which was situated at the Forum Julium (a forum built by Julius Caesar in Rome). Caesar was assassinated on 15 March, 44 BC. At that time Cleopatra was in Rome along with her outrages. After Caesars assassination Cleopatra returned to Egypt with her relatives. After the death of Ptolemy XIV who was allegedly poisoned by his elder sister, Cleopatra made her son Caesorian, her successor and gave her an epithet (an epithet as a descriptive word or phrase given to someone) Theos Philopator Philometor which means Father and mother loving God. Cleopatra and Mark Antony Coin of Antony and Cleopatra In 41 BC, Mark Antony, one of the triumvirs (name historians give to the official political alliance of Gaius Julius Caesar Octavians, later known as Augustus) who ruled Rome after the assassination of Julius Caesar. Dellius had to summon Cleopatra to Tarsus (a historical city in south eastern Turkey) to meet there Antony and answer questions about her loyalty. During the Roman civil war she allegedly paid much money to Cassius due to which Antony lost his trust on Dellius. Actually it seemed that in reality Antony wanted Cleopatras promise to support his war against the Parthians (citizens of Parthia a region of North eastern Iran). Cleopatra had Antony order the death of her sister Arsinoe to safeguard herself and her son, Caesarion. Arsinoe at that time was living at the temples of Artemis in Ephesus (Artemis is one of the religious Greek deities which is situated in Ephesus which is an ancient Greek city). On 25 December 40 BC, Cleopatra gave birth to twins fathered by Antony, Alexander Helios and Cleopatra Selene II. Four years later, Antony visited Alexandria again on route to make war with the Parthians. Donations of Alexandria was a religious-political statement by Cleopatra VII and Mark Antony in which they distributed lands of Rome and Parthia amongst Cleopatras children and granted them many titles especially for Caesarian who was the son of Julius Caesar. Donations of Alexandria was announced in late 34 BC, followed by Antonys conquest of Armenia (a client state of roman and Persian Empires stretching from Caspian to Mediterranean sea), Cleopatra and Caesarian were crowned co-rulers of Egypt and Cyprus. Cleopatra Selene II was crowned ruler of Cyrenaica and Libya and Ptolemy Philadelphus was crowned ruler of Phoenicia, Syria, and Cilicia. Donations of Alexandria were also a main reason for The Final war of the Roman Republic. Cleopatra was also given the title of Queen of Kings by Antonio. Her enemies in Rome feared that Cleopatra was planning a war of revenge that was between the whole of East against the Rome and establish herself as empress of the world at Rome and inaugurate a new universal kingdom. Caesarian was given co-regency with Cleopatra and was also given many titles such as god, son of god and king of kings. Egyptians thought Cleopatra to be a reincarnation of goddess Isis, as she called herself (NEA Isis). Relations between Antony and Octavian finally broke down in 33 BC, and Octavian declared a war against Egypt. In 31 BC Antonys forces faced the Romans in a naval action off the coast of Actium. Cleopatra was present with an army of her own. But Octavians invaded Egypt in the Battle of Actium and thus Antony and Cleopatra lost this war and thus the Roman Empire took over the Egypt. As he approached Alexandria, Antonys armies deserted to Octavian on August 1, 30 BC. DEATH This picture above shows the death of Cleopatra which was drawn by Guido Cagnacci in 1658. There have been many stories about the death of Cleopatra VII such as according to the ancient sources; particularly the Roman ones think that Cleopatra killed herself by inducing an Egyptian cobra to bite her. The oldest source is Strabo who was a Greek historian, geographer and a philosopher says that there are two stories: That she applied a toxic ointment OR That she was bitten by an asp. Other authors have questioned these historical accounts, stating that it is possible that Augustus had her killed. In 2010, the German historian Christophe Schaefer challenged all other theories, declaring that the queen had actually been poisoned and died from drinking a mixture of poisons. After studying historic texts and consulting with toxicologists, the historian concluded that the asp could not have caused a slow and pain free death, since the asp (Egyptian cobra) venom paralyses parts of the body, starting with the eyes, before causing death. Schaefer and his toxicologist Dietrich Mebs decided Cleopatra used a mixture of hemlock, wolfsbane and opium. Plutarch, writing about 130 years after the event has also mentioned the asp to be the major reason for Cleopatras death. He reports that Octavian succeeded in capturing Cleopatra in her Mausoleum after the death of Antony. He ordered his freedman Epaphroditus to guard her to prevent her from committing suicide because he allegedly wanted to present her in his triumph. But Cleopatra still was able to suicide by provoking the asp (cobra) to bite her on her arm. Suetonius, writing about the same time as Plutarch, also says Cleopatra died from an asp bite. Shakespeare also gave his own theory on the death of Cleopatra which gives us the image of Cleopatra clutching the snake to her breast. Before him, it was generally agreed that she was bitten on the arm. The site of their Mausoleum (a monument) is uncertain, though it is thought by the Egyptian Antiquities Service, to be in or near the temple of Taposiris Magna south west of Alexandria. Cleopatras son by Caesar, Caesarian, was proclaimed pharaoh by the Egyptians, after Alexandria fell to Octavian. Caesarean was captured and killed by Octavians. CONCLUSION: Why the women in world history were not given due importance? By taking the example of Cleopatra VII, the reasons why women were not given importance are: Cleopatra being the mother was more concerned about her children. She always tried her children to get throne unlike Julius Caesar who chose his grandnephew. Women are more directed towards their own children rather than caring about their kingdom. Cleopatra was not much concerned for her empire or the kingdom and was more aligned towards her family. Donations of Alexandria is the most important example which clearly explains that Cleopatra cared only about her family. She could have given those empires to some more educated or strong and a better person which could have helped her and Antony in the battle against Octavians. Well these were the main reasons why I think women were not given due importance in history.

Isaac Manuel Francisco Albéniz Biography :: essays research papers

Isaac Manuel Francisco Albà ©niz was born on May 29, 1860 in Camprodà ³n, the Catalan province of Gerona in northeastern Spain. As a child he was exceptionally gifted at the piano and gave his first public performance in Barcelona at the age of four. Two years later his mother took him to Paris where, for nine months, he studied privately with a renowned professor of piano at the Paris Conservatory. An attempt was made to enroll Albà ©niz at the Conservatory, but the boy was denied admission because he was too young. Upon returning to Spain he gave several concerts and published his first composition, Marcha Militar. In 1868 the Albà ©niz family moved to Madrid where Isaac began studying at the Royal Conservatory of Music. The boy’s astonishing pianistic ability inspired great praise and he was acclaimed as Spain’s greatest prodigy, often being compared to Mozart. Soon, however, Albà ©niz became restless and impatient with his studies and attempted many times to run away from home. Twice he ran away from home and supported his living by playing piano for the public and, sometimes, a job as a potter at the deck. After returning home and with the companion of his father, Albà ©niz first performed in the New World in the spring of 1875 when he gave a series of concerts in Puerto Rico. From there he traveled to Cuba where, in the fall of 1875, he gave several more concerts before returning to Spain. Upon returning to Spain, the 15 year old Albà ©niz gave concerts in several Spanish cities, including Barcelona, Valencia, and Salamanca. Realizing that his child prodigy days were nearing an end, and that the transition from child prodigy to mature artist is never a simple one, Albà ©niz enrolled at the Leipzig Conservatory where he hoped to gain the measure of credibility that one gets from studying at a world famous institution. While there he studied piano with students of Liszt. Short of money, ill at ease with the German language, and unhappy with the rigorous discipline imposed on him by his teachers, Albà ©niz returned to Spain after spending less than two months in the Saxon city where Bach, Schumann, and Mendelssohn once lived. Later that same year, Albà ©niz obtained a royal stipend to study at the Brussels Conservatory where, in 1879, he won first prize in piano performance. Following this he made a well-publicized tour of Europe.

Immigration Issues in the United States of America Essay

The United States of America (U.S.A) is a country that was founded on immigration. If a surplus of European immigrants would not have made the transatlantic voyage to America, the U.S.A. would more than likely be nonexistent. For centuries foreigners have been flocking to American soil, in search of a fresh start in a safe location. With so much turmoil and hostility going on in varied countries around the world, more foreigners are attempting to immigrate onto American soil. Now that the total population is rising significantly due to immigrants, a plethora of United States citizens are becoming outraged. If only American citizens would open their eyes to reality, they would discover that immigrants are actually benefiting the United States. Once they immigrate, a large percentage of foreigners do everything they can to be successful. Immigrants benefit the country by starting businesses, working jobs the typical American refuses to work, and bringing cultural diversity to the count ry. Some skeptics believe that foreigners are taking their jobs and raising the crime rate, but they those are wrong allegations. Immigration of foreigners into the U.S.A positively benefits the country in countless ways, instead of negatively affecting it. The economy of the United States of America has had its ups and downs over the course of its existence as a country. Innumerable amounts of people across the globe dream about someday moving to the United States and living out the â€Å"American Dream.† For the lucky foreigners that actually succeed in immigrating to the United States(U.S.)., many of them wish to start up their own businesses. â€Å"In 2008, immigrants represented about 17 percent of all new business owners in the U.S., according to The Washington Post. By 2011, immigrants were creating 28 percent of all new businesses, CNN reports†(Immigration Helps US City Economies and Labor Markets, S&P Says.†). When immigrants come into the U.S., they search for whatever jobs they can get, so that they may support themselves or their families. Many of the jobs available to these immigrants are low-wage jobs, and with such a low income, it becomes hard to support a whole family. That is why a decent percentage of immigrants are starting their own businesses. Once the immigrant decides to be an entrepreneur, their potential profitability sky rockets, because the success of their business could be exponential. Who would choose a minimum wage job over a high paying business venture? Sure there is a chance that the new business could fail, but that is a chance that these hard working individuals are willing to take. These immigrants came to the United States to have a better life, and they will stop at nothing to make sure all their efforts will not be thwarted. â€Å"And as of 2008, immigrant-owned businesses were generating about $67 billion of the country’s annual $577 billion in business income†( Immigration Helps US City Economies and Labor Markets, S&P Says.†). As far as statistics go, it looks as if these foreign entrepreneurs are succeeding. Other areas of the United States economy rely on immigrants. The agricultural economy of the U.S. relies on immigrants to harvest their crops. If not enough foreigners are allowed into the country, farmers will lose vast sums of money, because their crops will not be harvested in time. â€Å"With the harvest season in full bloom, stringent immigration laws have forced waves of undocumented immigrants to flee certain states for more-hospitable areas. In their wake, thousands of acres of crops have been left to rot in the fields, as farmers have struggled to compensate for labor shortages with domestic help†( Bitter Harvest: U.S. Farmers Blame Billion-Dollar Losses on Immigration Laws). Recently with increased border security, fewer immigrants are being let in to the United States, and it has been taking a toll on the agricultural community. Farmers are desperate to get as many migrant workers that they can every harvest season. Now that there significantly less immigrants being allowed into the country, farmers crops are dying before the y can harvest them. Immigration is essential to the success of American farmers, because the common American is not willing to do the difficult labor that the migrant workers perform for the farmers. Immigrants are coming into the U.S. and are actually helping American citizens receive more capital for the jobs they are performing. Some Americans believe that immigrants are a nuisance to the country, and that they do nothing but hurt it. They are very wrong to assume this, because immigrants are actually enabling Americans to profit more for the jobs they are performing. â€Å"This implies that total immigration to the United States from 1990 to 2007 was associated with a 6.6% to 9.9% increase in real income per worker. That equals an increase of about $5,100 in the yearly income of the average U.S. worker in constant 2005 dollars†( FRBSF Economic Letter: The Effect of Immigrants on U.S. Employment and Productivity). This statistic is astounding. Not enough U.S. citizens believe that immigrants are essential to the prosperity of the United States. Immigrants are not only opening up more job opportunities for the American public, but they are also helping them to earn a reasonable increase of income. Without these immigrants, the minimum wage would more than likely take longer to increase over time. The demand for consumer goods is always fluctuating. The American public loves to spend the money they earn. With recent problems in the economy, such as the recession, people are spending less money on consumer goods. Immigrants are essential to the purchasing of consumer goods, because they make up a large portion of the United States population now. â€Å"The Immigration Policy Center estimates that the purchasing power of Latinos and Asians, many of whom are immigrants, alone will reach $1.5 trillion and $775 billion, respectively, by 2015†( The White House Blog). With the amount of immigrants increasing as such a rate, they have now become some of the top buyers of consumer goods in the country. The money that they earn working hard at their differing jobs, they go out and spend on American goods. This in turn helps the economy in the country exponentially, because without them, the population in the U.S. would be significantly less; therefore there would be a substantial loss in the profitability of consumer goods. Also, the immigrants coming into the country help support local buying of goods. No longer can they buy the goods that they once did in their home countries, so they are now supporting the economy of the United States more than ever before. A common misconception of foreigners is that they are taking jobs from American citizens when they immigrate into the country. â€Å"Illegal aliens come to the United States to take jobs that offer them greater opportunity, and they are often welcomed by U.S. employers who are able to hire them for wages lower than they would have to pay to hire U.S. workers†(Passel). The individuals who believe this fallacy could not be more wrong. The truth is, immigrants are benefiting the U.S. economy more than ever. â€Å"Meanwhile, the research has found that immigrants – including the poor, uneducated ones coming from south of the border — have a big positive impact on the economy over the long run, bolstering the profitability of American firms, reducing the prices of some products and services by providing employers with a new labor source and creating more opportunities for investment and jobs†( Immigration and American Jobs). These immigrants came to the U.S. to escape the rough cultures in which they grew up. They only hoped to start a better life in the United States, and do better for themselves. Not only are they now making more money than they would have in their country of origin, but they are also helping to stimulate the nation’s economy considerably. The immigrant work force has benefited the citizens of the U.S. to a degree that has never happened before. While some Americans despise the fact that a plethora of new foreigners are â€Å"taking over† their county, countless others are extremely thankful for all that the immigrants have done for the U.S. Foreigners are skilled in a wide variety of talents. Technology is key in the prosperity of a countries economy. With a surplus of new foreigners in the Unites States, more and more inventions are being constructed by these individuals. â€Å"According to a survey by the National Foundation for American Policy, immigrants have started nearly half of the top 50 venture-funded companies. Software, semiconductors, and biotechnology are the most common venture-backed startup firms started by immigrants†( Nowrasteh). Many of the immigrants that come to the United States of America, are coming from China and the Middle east. These populations of people grew up on the principle of working very hard and staying focused. Now that these foreigners are able to use more advanced technology, they are able to use their talents to their full abilities. Where they once did not have access to the most advanced technology available to mankind, they are now coming to the U.S. and experiencing all that a technologically savvy country has to offer. Crime has become quite the hot topic when it comes to immigrants. American citizens believe that the surplus of immigrants into the country has caused the crime rate to noticeably increase, but this is just another myth. â€Å"In El Paso, Texas violent crime down 36 percent – it sits right across from Juarez, Mexico, one of the deadliest cities on earth. In Phoenix major crime has dropped 10 percent from 2000 to 2009†( Does Illegal Immigration Lead to More Crime?). Just because many immigrants do not have the money, at first, to move into wealthy American communities, people in the U.S. believe that they are criminals. How many people get nervous when they drive through a rough part of town? Well these â€Å"rough† parts of town are where most of these immigrants live when they first come to the country, because they previously spent most of the money they had on moving to America. Crime and immigration are two terms that do not go hand in hand. A very large perc entage of the immigrants coming to America are doing nothing but trying to prosper and live the life that they always wanted to have. Immigration is something that will benefit the Unites States of America in the long run, because it helps to create a very diverse nation. â€Å"The fact that people want to come to the US enhances its appeal. Likewise, because the presence of many cultures creates avenues of connection with other countries, it helps to broaden Americans’ attitudes and views of the world in an era of globalization†( Immigrants Will Strengthen US Power). Once these immigrants come to the United States, they usually have family back in their home country, or connections with businesses. Now that they live in the U.S. they are able to make long lasting connections between their current businesses and their previous businesses. Not only are these immigrants connecting ties back to their home countries, but they are making the United States a more culturally diverse nation. Since the founding of the United States of America, people have been trying to move onto its soil to have a better life , and now they finally can live it. The United States of America has been profiting from immigration since its founding day. Now that there are a wide variety of foreigners in the U.S., the possibilities for economic growth are endless. Immigrants are so essential to the prosperity of the country. Even though there are a plethora of misconceptions of foreigners, they are doing everything they can to prosper in this nation. They start businesses, raise the income for American citizens, and do countless other things to better the nation. Immigration is the future. Works Cited â€Å"Bitter Harvest: U.S. Farmers Blame Billion-Dollar Losses on Immigration Laws.† Business Money Bitter Harvest US Farmers Blame BillionDollar Losses on Immigration Laws Comments. N.p., n.d. Web. 13 Dec. 2012. â€Å"Does Illegal Immigration Lead to More Crime?† CBSNews. CBS Interactive, 23 July 2010. Web. 13 Dec. 2012. â€Å"FRBSF Economic Letter: The Effect of Immigrants on U.S. Employment and Productivity (2010-26, 8/30/2010).† FRBSF Economic Letter: The Effect of Immigrants on U.S. Employment and Productivity (2010-26, 8/30/2010). N.p., n.d. Web. 13 Dec. 2012. â€Å"Immigrants Will Strengthen US Power.† South China Morning Post. N.p., n.d. Web. 13 Dec. 2012. â€Å"Immigration and American Jobs.† Economix Immigration and American Jobs Comments. N.p., n.d. Web. 13 Dec. 2012. â€Å"Immigration Helps US City Economies and Labor Markets, S&P Says.† Fox News Latino. N.p., n.d. Web. 13 Dec. 2012. Nowrasteh, Alex. â€Å"Immigrants Help Fuel Te ch Growth.† The Huffington Post. TheHuffingtonPost.com, 19 Jan. 2012. Web. 13 Dec. 2012. Passel, Jeffery S., and Cohn D’Vera. â€Å"Illegal Aliens Taking U.S Jobs (2011).† Fedoration For American Immigration Reform. N.p., n.d. Web. 13 Dec. 2012. â€Å"The White House Blog.† Ten Ways Immigrants Help Build and Strengthen Our Economy. N.p., n.d. Web. 13 Dec. 2012.

American Barrick Resources Corporation Case Essay

a. Explain the value chain for gold mining firms (how can a mine create a competitive advantage relative to its rivals). What are the factors that may explain exceptional performance of ABX relative to the other gold mines? To create a competitive advantage, a mine has to properly manage its exposure to gold price fluctuations. This is not an easy thing to do since there are so many factors to consider: when, how much, and how to hedge the gold production. Firms in this industry differentiate themselves based on the risk management strategies they implement. Furthermore, mines should also be able to minimize the cost of gold production along with making large sunk costs. Operating in this sector obliges the companies to make huge investments to create the proper infrastructure to dig and process the ore; therefore, they should be financially stable on order to afford investing large amount of money. ABX implemented a gold hedging program that quickly became an integral part of its corporate strategy. This strategy helped it to hedge efficiently against gold price fluctuation. Besides, it allowed it to occasionally sell its gold at prices above those of the market. The exceptional performance of ABX was also due to its annual acquisitions. Luck was an important aspect as well, since gold was discovered in most of its new properties. Moreover, American Barrick generated a lot of cash, which it reinvested to finance its growth. It was also able to cut its expenses in order to enhance its growing profitability. The management of American Barrick wanted to diversify its activities by listing the company in Toronto, Montreal, and the United States among others. The top managers were very serious about keeping a financial stability and a liquid balance sheet by issuing few debts and hedging against risk. All in all, American Barrick attracted a lot of investors because of its risk management strategies, expected future growth, strong and liquid balance sheet, and finally its efficient management team. b. Quantify the nature of gold exposure, that is, in the absence of a hedging program using financial instruments, how sensitive would Barrick stock be to gold prices changes? For every 1% change in gold prices, how might its stock price be affected? How could the firm manage its gold price exposure without the use of financial contracts? If American Barrick wanted to protect itself from gold price exposure without the use of financial contracts, it could use natural hedges. One way to hedge against undesired risk is to match cash flows such as revenues and expenses. In other words, a commodity producer such as American Barrick, which has revenues payables in U.S. dollars and incurs cash outflows in a different currency, will try to match its outflows to its expected inflows in the foreign currency. Another way of hedging against risk is the purchase of insurance to protect against financial loss due to external influences. It is also common to hedge gold investments against fluctuations of the U.S. dollar. It is extremely important for commodity traders to know which currency is correlated with what commodity in order to be able to predict certain market movements; for instance, there is often a negative correlation between gold and S&P 500. c. What is the stated intent of ABX’s hedging program? What are the arguments for managing gold price exposure? ABX wanted to lock in the price at which it could sell its output in order to avoid seeing the expected value of its projects fluctuate widely. It wanted to differentiate itself from its competitor by choosing the right hedging policy. ABX aimed at being financially stable by protecting itself against the dips in the gold price. It vehemently argued that managing gold price exposure would allow it appropriately forecast its cash flows, rise its production, and offers its investors a clear vision of their future earnings. d. How would you characterize the evolution of Barrick’s price risk management activities? Are they consistent with the stated policy goals? American Barrick used to use gold financings. Through this way of financing, investors could benefit from both the increase incurred in the volumes of gold to the trust and the gold price. In 1984 and 1985, ABX used forward sales right after a sharp drop in gold prices. This strategy allowed the company to eliminate its exposure to price drops; however, it also limited its opportunities to benefit when the prices rose. This led it to try option-based insurance strategies that could manage the risk but still allow retaining some of the benefits of rising prices. However, as it needed contracts with a longer maturity, ABX shifted to spot deferred contracts. The evolution of Barrick’s risk management activities is characterized by its wish to be fully protected against price declines and still be able to capture benefit from increasin g gold prices. The risk management strategies implemented by American Barrick were consistent with their goals since its positions grew considerably.   e. How should a gold mine which wants to moderate its gold price risk compare hedging strategies (using futures, forwards, gold loans, or spot deferred contracts) with insurance strategies (using options)? On what basis should these decisions be made? Once a firm has decided on either a hedging or an insurance strategy, how should it choose from among specific alternatives? A mine that wants to moderate its gold price risk should first analyse the differences between the hedging and the insurance strategies. Indeed, hedging allows eliminating risk by giving up the potential for gain. While an insurance strategy requires a premium to eliminate risk but allows retaining the potential for gain. The decision should be made based on the cost of the strategy, the maturity of the strategy, and the degree to which the strategy allows to benefit from potential gains. Once a firm has decided on what strategy to follow it should choose among the existing alternatives of each strategy. For the hedging strategy, the company should take into consideration the particularity of each financial instrument. Indeed, forward sales for instance, are usually for relatively short delivery periods of under a few years. However, a continuous drop in gold prices might negatively affect the opportunity for the firm to sell at higher market prices. On the other hand, spot deferred contracts allow having multiple delivery dates. They enable the firm to profit from increases in the price and yet set a minimum price on its sales. For the insurance strategy, the main problem encountered by the firm is that of the cost. Indeed, the firm should use the premiums received from the sale of calls to purchase puts. That way the cash inflows and outflows cancel out. The firm can also reduce the cost of insurance by adjusting the exercise prices and rations of puts and calls to determine the degree at which it chose to participate in gold price rises. f. What is a â€Å"spot deferred contract†? Explain the mechanics of the contract. Is it an option? A forward contract? Why has ABX chosen to rely on spot deferred contracts relative to other gold derivatives? As defined in the case, a spot deferred contract is a type of forward sale of gold. At the opposite of a forward where the delivery is set on specified day (maturity), SDC’s are characterized by multiple delivery dates. It is up to the seller to choose on which rollover date they would make the delivery. The seller has the choice to defer the delivery up until the end of the contract. In other words, the seller had flexibility as to when they would like to deliver the quantity of gold. ABX preferred SDC’s to other gold derivatives for the simple reason that they allowed it to profit from increases in the price of gold and yet set a minimum price on its sales of gold. Therefore, as years have gone by, ABX found itself using more and more SDC’s at the expense of other hedging vehicles.

Educational Reform in the State of Florida

Educational Reform in the State of Florida Abstract Educational reform in the state of Florida has proved to be successful as the students’ performance increased in the state. The state ranks 11th in terms of students’ achievements whereas before the reform it was at the bottom of the rating. The so-called achievement gap (i.e. the gap between performance of white and minority students) has decreased, though it still exists.Advertising We will write a custom essay sample on Educational Reform in the State of Florida specifically for you for only $16.05 $11/page Learn More Other states also try to implement the reform. Of course, it is important to remember that to make the initiative successful, government leaders will need to use a comprehensive approach, i.e. the reform should be implemented in full. The Reform in the State of Florida The Educational Reform in the State of Florida was initiated by Jeb Bush, then governor of the state. This reform was implemented in terms of the progra m launched by then President George Bush â€Å"No Child Left Behind† (Anderson, 2011). Notably, the reform has proved to be very successful as the situation has improved considerably. The reform has addressed several issues. Firstly, the state grades schools from A to F. This grading is based on the school’s progress in annual tests in writing, reading, mathematics and science (The Economist, 2012). The schools that receive A get extra funding, whereas if a school grades F twice in four year, students can transfer to another school with a better grade. Apart from this, the third graders who cannot read properly are not any more allowed to the fourth grade. Besides, in terms of the reform teachers whose students pass certain tests receive certain bonuses. Furthermore, the system of vouchers enabled parents to choose among public, private, charter and online schools. Some methods of certification were also implemented. As any other reform, the present initiative has evok ed many debates. There are proponents and those who oppose the initiative. Researchers, educators and officials single out positive as well as negative outcomes of the reform. Arguments for the Reform As far as positive outcomes of the reform are concerned, there are quite many of them. For instance, Florida which was at the bottom of the rating in terms of educational achievement has approached the top ten states (Coutts LaFleur, 2011). Coutts and LaFleur (2011) note that the average performance of Florida’s students is still quite low, and there is still a gap between white and minority students’ performance. However, the researchers admit that the situation in the state has improved significantly (Coutts LaFleur, 2011). Wilson (2012) provides major achievements of the reform. Thus, students with disabilities, Hispanic students and African American studentsAdvertising Looking for essay on public administration? Let's see if we can help you! Get your first p aper with 15% OFF Learn More have made great strides in closing the achievement gap in fourth-grade reading and fourth- and eighth-grade math, improving a grade level each year since 2003 (combined average). (Wilson, 2012, n.p.) The researcher also notes that the achievement gap (though it still exists) has decreased in the state. It goes without saying that education has become more achievable for many people. Minorities and students coming from poor families can obtain higher education. There are lots of grants and other opportunities to go to a college. At this point it is necessary to add that the number of Florida’s students who take various standardized tests has increased (The Economist, 2012). Remarkably, parents can better understand their children’s performance. Parents and students can also choose a school in accordance with the quality of education. On the other hand, schools are also encouraged to improve the services provided. Schools try to have a good grade to remain competitive. Of course, competition is one of the premises for development. Likewise, teachers are also encouraged to give more. If a teacher manages to be inspiring, the students successfully pass exams. These achievements turn into financial benefits for the teacher. This also encourages teachers to try their best to make their students interested in their subject. Undoubtedly, this positively affects the overall performance of students of the state. Arguments against the Reform Irrespective of all positive effects, there are still those who oppose the reform. One of the major arguments of the opponents is that Florida’s students’ average performance is still quite low as the state ranks eleventh (Wilson, 2012). Wilson (2012) claims that this is not quite enough to completely confirm that the reform is 100 per cent effective. Opponents of the reform also state that there is still quite considerable achievement gap between white and mino rity students (Coutts LaFleur, 2011). The opponents admit that the gap is not that high. However, they stress that the reform cannot be regarded as totally effective if the achievement gap still persists. The reform is also criticized for its reliance on standardized tests (Anderson, 2011). It is also mentioned that Jeb Bush slightly increased the fees. However, it is necessary to add that the fees are quite low if compared with the rest of the states. Finally, many people claim that another drawback of the reform is the way Jeb Bush implemented it. Thus, he used quite autocratic ways to make people adopt the new ways.Advertising We will write a custom essay sample on Educational Reform in the State of Florida specifically for you for only $16.05 $11/page Learn More Efforts to Take Admittedly, some arguments against the reform are quite justified. Nonetheless, the reform has proved to be effective. Many states try to implement the reform to improve their e ducational system (Anderson, 2011). However, it is important to be quite careful when implementing the system. In the first place, it is important to remember that any reform is a complex entity. Therefore, it should be implemented in full. It is inappropriate to adopt some ways while ignoring other measures and methods. It can be even more effective if all states implement the reform. Some argue that implementation of the reform needs a lot of money. Nonetheless, government leaders can implement the reform without raising taxes or school fees. Of course, this sphere will still need considerable funding, but it will not require extra funding. The reform presupposes justified allocation of funds. Thus, schools which get grades A and B can obtain extra money, while schools which get C-F will receive only standard funding. More so, it is possible to implement additional measures to help schools performing poorly. Of course, additional bonuses for teachers have fostered quite heated deb ate. Some educators argue that introduction of these bonuses can lead to various violations. More so, some believe that the bonuses may lead to certain kind of disproportion. Admittedly, this is quite a serious issue to address. However, government leaders should not focus on some individuals’ ambitions. It is possible to launch some proficiency tests for teachers. Educators should help teachers who perform poorly. Various training courses should be available for teachers. Therefore, it is possible to note that the educational reform in the state of Florida has proved to be effective. However, it is also important to note that it is far from being completed as educators and government leaders have a lot of issues to address. Reference List Anderson, N. (2011). Another brand of Bush school reform: Jeb’s. The Washington Post. Retrieved from washingtonpost.com/local/education/another-brand-of-bush-school-reform-jebs/2011/03/23/AFwfUYCC_story.html Coutts, S., LaFleur, J. (2011). How other states can learn from Florida’s successful education reform. Business Insider. Retrieved from businessinsider.com/how-other-states-can-learn-from-the-success-of-floridas-education-reform-2011-6Advertising Looking for essay on public administration? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Economist. (2012). The Floridian school of thought. Retrieved from economist.com/node/21548268 Wilson, M. (2012). Point of view: Florida’s education reforms are gaining national acclaim. The Florida Times Union. Retrieved from http://jacksonville.com/opinion/columnists/2012-06-10/story/point-view-floridas-education-reforms-are-gaining-national

Beowulf Literary Analysis Essay Example

Beowulf Literary Analysis Essay Example Beowulf Literary Analysis Essay Beowulf Literary Analysis Essay Nick Paine 3/11/13 Beowulf Literary Analysis In the poem Beowulf, the issue of whether or not this particular period is more barbaric or is more civilized. The author of Beowulf is trying to present a certain message in the poem. The message that can be pulled from Beowulf is that even within a society of thought to be malicious and barbaric, there is still room for it to be civilized. When you think of Vikings you don’t necessarily think of a civilized society. In Beowulf, the society of that particular era and people is thought to be fighting, dangerous and overall barbaric. This assumption is not completely because in the poem, the are big into fighting and most importantly there are monstrous creatures running amok, reeking havoc. With the monsters of Grendel, Grendel’s mother, and the dragon existing, it makes the society seem that much more horrid and barbaric. In the poem it describes Grendel by saying â€Å"He was spawned in that slime of Cain, murderous creatures banished by God, punished forever for the crime of Abel’s death. (35 l. 105-108 ). This just goes to show how elements like this can cause someone to believe this time period is more barbaric. However, after a closer evaluation of the poem you are able to see that this society is not as barbaric as it originally seems. Two examples of something that shows how this society can be considered civilized are the mead hall, and the armor worn by the people. In the poem it refers to the mead hall as the â€Å"Gold shining hall† (40, l. 239), this quote emphasizes the importance and pride they take in the mead hall. The mead hall is decorated with vast quantities of gold and it represents the respect it gets from the society. The armor is also regarded in the text when it says â€Å"Helmeted, the silvery metal of his mail shirt gleaming with a smith’s high art†(37, l. 139-140). This quote shows, once again, shows the pride of these people, this time in their armor. So, what you can conclude from this is that they can’t be so barbaric if they are taking the time and putting in the effort into these things. Their pride symbolizes how civilized the society actually was. Before analyzing the poem one may look at this society as being barbaric simply because of the monsters and what they know about Viking warriors. Yet, after further evaluation of the text you are able to find the messages the author has left, giving the idea that maybe the society is not so barbaric after all. Altogether, in the end it is safe to say the author has left a lesson saying not all things that are barbaric can’t be civilized.

Entendiendo la Forma Superlativa en Ingls

Entendiendo la Forma Superlativa en Ingls A continuacià ³n se muestra cà ³mo construir la forma superlativa en inglà ©s: Adjetivos de una Slaba Ponga un the antes del adjetivo y agregue -est al final deà ± adjetivo (Nota: duplique la consonante final si es precedida por una vocal) Ejemplos: cheap - the cheapest / hot - the hottest / high - the highest Ejemplos: Today is the hottest day of the summer.This book is the cheapest I can find. Adjetivos de Dos, Tres o Ms Slabas Ponga the most antes del adjetivo Ejemplos: interesting - the most interesting / difficult - the most difficult Ejemplos: London is the most expensive city in England.That is the most beautiful painting here. Adjetivos de Dos Slabas que Terminan en -y Ponga the antes del adjetivo, quite la y del adjetivo y aà ±ada iest. Ejemplos: happy - the happiest / funny - the funniest Ejemplos: New York is the noisiest city in the USA.He is the most important person I know. EXCEPCIONES IMPORTANTES Existen algunas excepciones importantes a estas reglas. A continuacià ³n hay dos de las excepciones ms importantes: Good good - adjectivethe best - superlative Ejemplos: Peter is the best golf player in the school.This is the best school in the city. Bad bad - adjectivethe worst - superlative Ejemplos: Jane is the worst student in the class.This is the worst day of my life. Pruebe su conocimiento con esta breve prueba.

How legal cultures differ from England to Germany Essay

How legal cultures differ from England to Germany - Essay Example In the cases provided, it is imperative to understand case proceedings depending on the legal culture of the land and identify the various means used by the courtroom in the identification of the respective rulings The first case is that involving Lord Bernstein against Mr. Ashby in court. The plaintiff, Lord Bernstein, states that the defendant, Mr. Ashby failed to observe Mr. Bernstein’s right to privacy when he flew around his house taking photographs of the premises without his consent. In this case, there is the protection of the plaintiff’s privacy by the laws of the land through the fact that the owner has a right over the immediate air space above his land. This makes sure that he has some authority over the activities that take place above that area. This protection of privacy is accorded directly referring to Winfield on Tort (Frank, 2010, 25). Winfield on Tort is one reputable source of enactments provided by the British constitution, it is clear that the pla intiff in this case had protection of privacy as it stated that the activities carried out were an act of trespass. This information is cited from the constitution through which England is run. Chapter 2 in the bill of rights after the fourth amendment in 1996 also provides for this (Steinfield, 2010, 77). It is important to understand that the judge was fast to dismiss any claims stating that the defendant had committed a criminal activity by disturbing the plaintiff’s peace. This is from the fact that for someone to provide a case stating any form nuisance the airplane had to have been flying at a certain height and this was not clearly stated (Baron, 1978, 484). It is from this that the judge found it rather excessive to go for the nuisance charges on top of the trespass ones already provided. The judge was also clear to identify the Air Navigation Act 1920, Section 9 replaced by the Civil Aviation Act 1949 which states that the claims to both nuisance and trespass are exc essive and should not hold up in any legal process (Lemmings, 2011, 167) This was the point where there is the identification that the judge did not have the ability to make a decision based on his views but rather had to refer to the act. Despite this being the law that governed his decision, it is important to note that the judge had the ability to express his views in that he stated that going for the nuisance charge was rather outrageous. This independence was rather clear and concise in that he also had the ability to fully follow the act and go for both charges but after looking at the facts of the case, there was the identification of various issues allowing a much lesser charge (Baron, 1978, 486). The issues identified in the case that had the judge extend his independence as to not follow the act entirely are such as the level at which the airplane was flying. The defendant had not gone around the premises enough times for the plaintiff to state that there was disturbance. This is from the fact that the plaintiff stated that he had not noticed the airplane circling around his house all through until it came to his attention that the defendant had photographed the premises (Baron, 1978, 488). According to the Civil Aviation Act of 1949 trespassing is identified when the defendant flies as low as getting in contact with private material on the premises of the plaintiff such as trees and

Critically appraise the impact that transformational leadership can Assignment

Critically appraise the impact that transformational leadership can have on organizations and society - Assignment Example Transactional leaders work within and with the rules and norms that already exist in the organization, while transformational leaders in comparison are those who ‘transform’ their organizational culture and align it with values and norms that are essential to be more effective. Transformational leaders have been characterized as having four components; idealized influence, inspirational motivation, intellectual stimulation and individualized consideration. Transformational leaders use these four tools to transform their organizational culture into one that is most conducive to growth and advancement. Transformational leaders who work thus, and exhibit a sense of vision and purpose are more likely to be found in organizations that cherish innovation and progress. They align their subordinates with the goals of the organization and its culture and are most likely to foster creativity than support a culture with a status quo (Bass 1991; Gardiner 2006). Organizational cultur e and leadership will forever remain interconnected. Leaders are the ones who develop the organization’s culture and strengthen its norms and beliefs. The culture thus takes shape according to what the leader concentrates on, and this is what the subordinates are taught to follow by their leaders. But it is not only the leader who affects culture, organization cultures are often as impacting of their leaders as well. For example, it can influence how decision making is done by top management regarding concerns like hiring new employees and placing them within the organization etcetera. In accordance with the evolutionary process of an organization, the leader must change the culture to suit the organization’s needs. In order to maintain change while incurring the least resistance, the leader must not completely let go of the initial culture. The past should be referred back to for inspiration and the understanding of core strategies that must be maintained in the futur e. Changes should however, reinforce innovation so that the organizational culture is aligned for present and future need (Gardner, J. 1990; Avolio et al 1991). Organizational culture styles can also be categorized into two separate categories, according to the leadership style of the leader at the helm of the organization. Theoretically, if the leader is transactional, then the culture is also transactional and if the leader is transformational, then the culture is also transformational (Gardner, J. 1990). However, in reality organizational cultures posses some aspects of both types of cultures and the trick really, is to make a conscious movie towards a transformational culture by incorporating more and more transformational aspects while still maintaining the much needed structural transactional aspects (Simola et al 2010). A transformational culture can be characterized by a sense of purpose and unity. In such cultures, commitments are made for the longer run. The top management and the consequent subordinate levels have a certain level of interdependence and mutual goals. In such cultures, management goes beyond what is required to further their self interest to do what is good for the collective wellbeing of the organization. Top management acts as mentors for subordinate management levels, the norms are flexible and adapt to the changes in the organization’s external environment and due importance is given to the organization’

Psychology. Diary Activity Essay Example | Topics and Well Written Essays - 1750 words

Psychology. Diary Activity - Essay Example Submissive Diary Exercises: 1. I should more aggressive in fulfilling what I want to achieve in life. I should be assertive of my rights, and I should be submissive to the rule and policies of the schools. 2. I should be more assertive of my right to be heard when I am accused of something that I have not done. I should be less passive when I feeling that my rights are being trampled. 3. I should be more assertive in expressing what I want to do. I should be less aggressive when explaining my points. Activity: 1. When you were late for the third time and I feel all right because you were always apologetic. 2. When you raise your price in the clinic, I feel unhappy because I cannot afford the price anymore. 3. When you complained of not getting the result, I feel frustrated because you did not implement what were recommended. 4. When my partner leaves his dishes in the sink after coming home late from work, I feel irritated because he continued to do so for a week. 5. When you borrow my car, I feel irritated because you left it without petroleum. Diary Exercise: 1. A situation where I said yes but would have wanted to say no was when I was asked to donate some money for a non-governmental organization. 2. I wished to say no because I was afraid I will be short of money. 3. I decided to say yes because I do not want to disappoint the expectations my classmates. 4. I felt good because I have something good for humanity and that I did not embarrass my classmate. 5. I feel that I earned his respect. 6. I would have preferred saying yes. After all I can ask from my parent additional allowance for school. Page 43 1. Active listening reduces the defensiveness of the other person because when one is actively listening he can effectively employ...Where in her childhood a woman experienced humiliation or never appreciated or recognized for what she had done or said she will not feel comfortable of expressing her thoughts even when she becomes older. 3. Language is a barrier to assertion. When a person cannot express his thoughts and his ideas because he does not have ample language facility he cannot assert his point. It is important therefore that a person must have a rich world bank so that he can competently express what he has in his mind. 1. Active listening reduces the defensiveness of the other person because when one is actively listening he can effectively employ different skills that would physiologically and psychologically encourage the speaker. The listener can be persist, or negotiate or employ the three-part messages of assertion. Scenario 1: There is the need fro active listening and assertion. As soon as the client is ready to listen there is the need to explain the process and explore on the needs. The client must collaborate and must be patient undergo the process of treatment. He should be willing to put his trust. Mapping can be utilized in this situation. Scenario 2: There is the need to come up with an action plan that must be implemented or carried out so that it would be clear who would work on it, how it should be done, and when it shou

Business Scenarios Essay Example | Topics and Well Written Essays - 250 words

Business Scenarios - Essay Example Moreover, it appears that he is in school just to pass time. One strategy to assist in seeking a solution to the predicament is informing the teacher because he or she may understand why the student lacks interest in education. Apparently, family issues can be the reason behind the student’s lack of interest in education. Since students are afraid to share their problems with their fellow students, the teacher will be of substantial help because students feel free to share their problems with teachers as opposed to their fellow students. Another strategy that may work is trying to inquire from the student the reasons for showing minimal commitment to work. By doing so, a student may reveal his problems and the students can devise a way of assisting the student in eliminating his problem. However, the best solution to curb the problem is referring the student to the school’s counselor. As stated earlier, family issues may be the reason why the student fails to value education. The counselor would be of immense help because they can interact with the student and know the problem. Moreover, they can advise the student on appropriate ways to eliminate the problem at

Different throught processes during World war 2 and vietnam a contrast Essay

Different throught processes during World war 2 and vietnam a contrast in thinking - Essay Example The speed at which life changed and the number of social issues that were in conflict made the world a very different place, thus supporting a citizenry that was in conflict with its government, a nation that was in a social civil war trying to change what would lead toward a more enlightened society. The 1940’s was a time that marked the beginning of world in which the oppressed would stand tall and the domination of the white male social group would come into challenge. However, this was not seen from inside this time, only from the retrospective point of view that represents the changes that took place during this time. The social control of the world before this time resided deeply within the group defined by white Western males who dominated in the economic and social spheres from which the world was primarily defined. However, this group had taken some damage during the press of the economic pressures during the 1930’s that had whittled away both pride and resources. As World War II took those same men far from the shores of the United States, a new world would blossom during their absence. During World War II, the support for the war extended into most aspects of life within the United States. The first sacrifice was made by the men who enlisted in droves to support the end of tyranny within the world by participating in the military efforts. However, there was a great deal of sacrifice made on the home front because of the participation of men and the use of resources that might not have been required without the existence of the war. The entry into World War II came on the heels of a Japanese attack on Pearl Harbor which incited the passions of the citizens towards revenge and preservation of the way of life that was the American culture. According to Hormats, â€Å"On the day after the attack on Pearl Harbor, President Franklin Roosevelt proclaimed his confidence that the

Management theories Essay Example | Topics and Well Written Essays - 1000 words

Management theories - Essay Example With new management theory so readily available, it seems that few if any of the historical theories meet our expectations today. However, in choosing one the choice here would be the Administrative Principles. This approach, at least made an attempt to focus on the total organization and today we know that each entity in an organization is important to the whole and how those entities function together is extremely important. In this particular theory, Henri Fayol (1841-1925) was the developer of the theory. There were fourteen general principles that were put into place as a part of this principle. There are truly some good things and some bad things here.(provenmodels, 2010). Division of labor: This is a method of achieving maximum efficiency through the use of specialized labor rather than just splitting people up by the technical activities they do. This is, in some ways, how a hospital works today and many other major businesses too. The division of labor is usually split up by specialty. For example, the business office, the admissions, the coders etc. Establishment of Authority: Here the true ability to make a decision and carry it out is available to the manager. Today, we call it one kind of power or another but even today, there are organizations that are unable to release this authority even to their top managers. As one reads these points, it is realized that they are all important today and we think of them as a part of one or more of the theories we study today. When the pros are thought of, one of the things that leaps out at the reader immediately is the stability of jobs. In today's world there are beginning to be short numbers of staff in many specialty fields. It is also known that training and retraining staff are very expensive (Jick, & Perpirl,, 2003). With that known, retention of staff becomes extremely important, as important today at it was then. The other pros are that unity of command remains important today as well as unity of direction. Today, we understand that it is important to assure that employees other than senior management staff are a part of strategic planning, for example. The cons are that this is a step back of course from what we know today and though the fourteen points are useful, it all seems somewhat complicated to use and they are somewhat vague in spots a nd seem a little confusing. The theory that is most

Different throught processes during World war 2 and vietnam a contrast Essay

Different throught processes during World war 2 and vietnam a contrast in thinking - Essay Example The speed at which life changed and the number of social issues that were in conflict made the world a very different place, thus supporting a citizenry that was in conflict with its government, a nation that was in a social civil war trying to change what would lead toward a more enlightened society. The 1940’s was a time that marked the beginning of world in which the oppressed would stand tall and the domination of the white male social group would come into challenge. However, this was not seen from inside this time, only from the retrospective point of view that represents the changes that took place during this time. The social control of the world before this time resided deeply within the group defined by white Western males who dominated in the economic and social spheres from which the world was primarily defined. However, this group had taken some damage during the press of the economic pressures during the 1930’s that had whittled away both pride and resources. As World War II took those same men far from the shores of the United States, a new world would blossom during their absence. During World War II, the support for the war extended into most aspects of life within the United States. The first sacrifice was made by the men who enlisted in droves to support the end of tyranny within the world by participating in the military efforts. However, there was a great deal of sacrifice made on the home front because of the participation of men and the use of resources that might not have been required without the existence of the war. The entry into World War II came on the heels of a Japanese attack on Pearl Harbor which incited the passions of the citizens towards revenge and preservation of the way of life that was the American culture. According to Hormats, â€Å"On the day after the attack on Pearl Harbor, President Franklin Roosevelt proclaimed his confidence that the

Organizational Change Models Research Paper Example | Topics and Well Written Essays - 750 words

Organizational Change Models - Research Paper Example In any of the cases, better management is the key to achieving the desired goal. Organization development aims at increasing the effectiveness and productivity of a business through the employment of different strategies (Nelson, 2011). This will include the different techniques that help workers and the organization as a whole to cope with the changing environment for a better performance of the institution. This will thus enable firms to achieve their goals and meet the laid objectives faster. The importance of transformation in the modern environment practically assures that organizations which do not transform will rapidly becomeâ€Å"corporate dinosaurs†, headed for destruction since they no longer fit the current environment (Kates & Galbraith, 2007). To manage the change, leadership, worker involvement and incentives that aid to overcome resistance to change are the key focus. The concept of organizational change is one of the key elements that determine whether businesses survive and strive well in the market. The world is increasingly changing and this calls for firms to employ measures to easily cope with the changing environment. There are those short term and long term measures that need to be employed for effective change to be witnessed by an organization. It is a three phase model that was invented by Kurt Lewin. The Lewin’s Three-step Change Model functions as a short term strategy to cope with the changing market. It focuses on three major steps: unfreezing- moving and refreezing as shown in the figure below. In this stage, the organization is prepared for change. It involves identifying any resisting forces for the change ready to be implemented. This will be helpful according to the Lewin’s model in identifying mechanisms for change which will strive even with the resistance (Miner, 2011). Unless there is motivation for change in an organization, development would not take its

Theories in the marketing communication framework

Theories in the marketing communication framework According to Kotler (2003, p.563) A way of looking at the whole marketing process from the viewpoint of customer Fundamentally, marketing communication is the essential process to convey the message between corporations and consumers which is to make the target audience trust the brand and marketer Burnett (1993). It has the different methods to reach the audience but the main aim is to build the medium which can inform and persuade the consumers. Also, marketing communication is the method to establish the invisible relationship between firm and customers. To ensure the audience correctly received the message is primary step. By using marketing communication, consumers can understand about firms, products and brands (Kotler and Keller, 2006). One fact which needs to be noted is that the difference between advertising, marketing communication and promotion. It has been claimed that advertising is part of marketing mix which is wider and complex than advertising. However, it is hard t o distinguish the slight difference between. Therefore, they mean the same meaning in this report. Traditionally, there are several elements in the marketing communication which includes advertising, sales promotion, sponsorship, public relations, direct marketing, and personal selling (Pickton and Broderick, 2005). Even though there has been divided into several elements to distinguish the difference. There is still some room which is overlapped. Hence, it shows the importance of integrated marketing communication. Moreover, it has been claimed that there are some tools which also can be in the marketing communication mix such as packaging, word of mouth, point of sales, E-marketing and exhibitions. It has been stated that there are two categories, namely, above the line and below the line. Above-the-line include advertising which needs to pay the space for promotion such as TV commercial, radio or newspaper and magazine of press. Below the line consist of sales promotion and publi c relations (Smith and Taylor, 2004). The main reason to choose integrated marketing mix is that the message and information can extensively reach the target audience by all channels as well as more suitable and effective methods to achieve marketing communication objectives. By multi-channels promotion, it increase the awareness of brand and comprehend the message. After this, the purchase action could be expected happen by consumers Patrick et al., 2004, Smith and Taylor, 2004) Hence, each marketing communication mix element has the particular function to promote the brand in marketing campaigns. Nowadays, TV commercial, sponsorship, sales promotion are popular and essential marketing communication tools to be used in beer promotion campaign. Also, it has been found that words of mouth play the major role to influence the some beer customer. These marketing communication mix elements will the discussed as below. In beer promotion campaign, Advertising: Advertising is the primary element in the marketing communication mix. It is common to find that majority of audiences consider advertising equal to promotion. According to Kotler and Keller (2006) Any paid form of non-personal presentation and promotion of idea, goods or services by an identified sponsor. It is a general definition of advertising but shows the key point of characteristic which are the promotion for product or service by a sponsor. It has also been admitted that advertising is suitable to build the long term brand image and create the initial awareness. It is controversial issue to distinguish which element is the most influential one in the marketing mix. However, it still needs to be admitted that advertising take the majority part of promotion budget in the campaign regularly as well as widely reach the mass target audience. Furthermore, TV advertising would is arranged the most money because it costs more than other categories like press or radio. In other words, although advertising takes most spend of promotion, it is still the low cost for each unit person (Kotler and Armstrong, 2006). Therefore, from firms perspective, advertising seems to be the economical methods to reach most consumers (Pickton and Broderick, 2005). Moreover, advertising can play the major role to supplement the rest of tools which efficiently enhance the awareness of campaign and increase sales. For example, it is evidential that most sales promotion messages are conveyed by advertising to reach most audiences. In addition, public relations event such as event sponsorship needs the advertising support to announce the information which also can enhance the awareness (Burnett, 1992). However, there are some limitations of advertising which have been argued. Firstly, it is hard to prove that audience would purchase the products after receiving the commercial message. In other words, the sequenced process needs to be demonstrated more evidences. (Pickton and Broderick, 2005). Also, there are several vital cause which can influence the purchasing such as reasonable price, convenient location and quality product (Burnett, 1992). Therefore, advertising can be the influential facts to brand awareness and attitude. Even the direct effect for stimulating purchasing needs to be considered the relationship, it still can be the functional tools in marketing communications. Sponsorship: Sponsorship is in the sub-category of public relations which is to build a relationship and corporation image (Kotler and Armstrong, 2006). The definition of sponsorship is that the firms invest the money or in kind to expect the potential revenue to achieve the marketing objectives (Meenaghan, 1991; Berrett, 1993). In recent years, sponsorship has been popular and divided from public relations to be an independent tool in the marketing communication mix which show that the use of sponsorship is increasing and more different types of sponsorship are developing (Pickton and Broderick, 2005). Although most of firms keep a limited budget for sponsorship, in some sponsored activities the cost is still a great deal of money such as Carling sponsor as a title to Carling cup. Moreover, the world cup and Olympic both are the popular event which have attracted many aggressive sponsor to invest in it. It has been claimed that sport, arts, education and broadcast are the most popular categories for sponsorship (Smith and Taylor, 2004). It has been claimed that audiences can be aware of the sponsor brand and evoke the brand in the purchasing occasion which increase the brand recall and add the brand into the considered brand portfolio. The brand awareness would be higher than advertising promotion and get more involvement. Moreover, sponsor would evaluate the applicability of event which can be expected to convey the positive emotion and attitude to audiences. Therefore, sponsor expects to link the positive to their brand. In the sport, audiences also can be persuaded with the sport stars endorsement which can enhance the purchasing possibility (De Pelsmacker et al, 2004). It can be concluded that perfect sponsorship could to increase the positive attitude to sponsor and sponsored activities both. However, there are some potential risks of sponsorship which need to be noted. For example, the negative facts influence the sponsored entities which impact the sponsors directly or indirectly. It often happens in sport sponsorship like the sponsored teams or players do not play well in the match. It can be found that Carling and Guinness sponsor the different sport league not particular teams or player that would be a considered sponsorship strategies. In addition, overlapped sponsorship shows the extreme commercial image which could make audiences ignore the message (Pickton and Broderick, 2005). Hence, even sponsorship cost generally would be lower than advertising, it still need to be consider punctiliously. Ensuring the sponsored objective will be achieved and can be suitable to marketing communication objective. Also, budget and effectiveness measurement have to be planned in the process. After these, to integrate sponsorship into other communication mix element will reinforce the promotion campaign effectiveness (De Pelsmacker et al, 2004). Sales Promotion: Sale promotion is a short-term promotion to stimulate the consumer buying behaviour (Kotler and Armstrong, 2006). The function of sales promotion is not similar with other elements which to increase the long term relationship with consumers. It focuses to increase the sales immediately. There are two ways to achieve the sales. One of these is to encourage the current customers purchasing more products or another one is to attract the new customers attention to purchase. Therefore, it can be concluded that the features of sales promotion is to use simulative offers encourage the customers buy product in the limited time. Also, the measurement of sales promotion is easier to conduct than other communication mix tools (De Pelsmacker et al, 2004). Many tools can be used in the sales promotion such as couponing, sampling, premiums, contest and money-off. Those of instruments are planned to be used in different categories of products. Also, there are some particular sales promotion tools f or trade like point -of tail materials and merchandising. One fact which it needs to note is that sales promotion would be often implemented with advertising which can enhance the effectiveness of campaign. By using sales promotion information in advertising, it would be effective to encourage from awareness to purchase (Pickton and Broderick, 2005). Even though sales promotion has been admitted to increase short-term sales influentially, the long-term effect to the brand and sales also needs to be considered. It has been stated that consumers would be used to the price reduce and disregard the quality of products. Moreover, sales promotion would offer a reference price in their mind which makes them more sensitive to the price. Therefore, sales promotion would need more striking price promotion to attract the consumer in the future (De Pelsmacker et al, 2004). In beer industry, sales promotion is often used to compete with other brewers in special period like world cup or Xmas. The re also has some regular sales promotion which tried to be incentive for consumers. In recession, sales promotion are increasingly important to the total sale and integrate more communication mix elements to boost the sales. Hence, it can be expected that more sales promotion would be emphasized in the future. Words of mouth: Word of mouths is a strong medium for marketing communication. It is difficult to contend with friends recommendation by advertising or other communication mix elements. Also, it has been claimed that consumers are more likely to change their brand preference by advice than promotion mix. Thus, by people communication, experience, reputation and recommendation can be conveyed and believed effectively. Moreover, mass media has been claimed that it is not efficient to reach the besieged audience. Words of mouth can be the tool to break the barrier (Smith and Taylor, 2004). With the development of internet, the communication channel is convenient and the information is overload. The experience and feeling can be spread extremely fast which is not like other communication mix elements that could not be measured and control simply by promoters (Berrett, 1993). Even it is complicated to control words of mouth and ensure the content of communication to the brands or products, the impressive communication mix campaign could be the topic to be discussed and increase the positive attitude (Smith and Taylor, 2004). Therefore, words of mouth would be the most influential and uncontrollable part of marketing communication mix. Hierarchy of effect models: One of the prime theories in the marketing communication framework is hierarchy of effect model which logically explains the sequential tasks of marketing message influence. On other words, it affects the consumers awareness to purchase action which is assumed that the relative step would ideally push through to next process. First process is cognitive part which means consumers have received the message and like to awareness. Second process is affective part that shows the attitude and reaction to the promotion messages have been generate in the step. The final process is behaviour part which is the actual purchase to the promoted brand (De Pelsmacker et al, 2004). According to these three main processes, many different models have been created and AIDA is one of the models and often to be referred. AIDA: AIDA model is the fundamental theory in the hierarchy of effect model. It was created by Elmo Lewis who claimed that the influential process of marketing communication can be divided into four steps: Awareness, Interest, Desire and Action. It used to be used for sales training. However, it has been the most influential theory to explain marketing communication work nowadays. The model is explained that the process how to shift consumers from the beginning of unawareness to perceived the message and shows the reaction to action (Pickton and Broderick, 2005). Firstly, awareness is that the audiences have noticed and been aware of the promotion. Then, the audiences understand and believe the messages as well as feel interested to the advertising or brands. Following this, the message arouse consumer desire to look for this advertised product or brand. Finally, consumers do the action to purchase. In addition, it has been claimed that each marketing communication mix element can be influ ential to particular step in AIDA model. Firstly, Advertising and public are suitable to build awareness to make consumers know the brand as well as feel interested for the product. However, advertising are not effective to increase the immediate purchase. Meenaghan, T. (1991) The role of sponsorship in the marketing communications mix, International Journal of Advertising, 10 (1) pp.35-47 Berrett, T (1993) The sponsorship of amateur sport-government, national sport organization and corporate perspectives, Society and leisure, 16(2), 323 346. De Pelsmacker et al, (2004) Marketing Communications: A European Perspective, 2nd ed. Essex: Pearson Prentice Hall.

Preschool Education in The United States Essay example -- Education

Preschool programs began in the United States during the first quarter of the twentieth century. In 1925, the first public preschool began in Chicago at Franklin School. After the 1970’s the popularity of preschool increased since women were entering the workforce and people believed that children needed early preparation before they attended elementary school. Barbara Wiler, Ph.D., deputy executive director of the NAEYC says, â€Å"Good Preschools provide children with rich experiences that give them skills, information, and attitudes that prepare them for the primary grades and for life. † (WKRLIP, P1) Preschool isn’t like kindergarten. It’s a stepping-stone that will prepare young students for the years of schooling they will have later in life. The NAEYC Accreditation was made to help families find the best care for their children. It provides the early childhood education field with a convincing outcome and ensures the quality in children’s daily experiences. Early Childhood Education plays a key role in academic development in children because they learn soft skills, job skills, and are personality fixed by age 4. Soft skills include paying attention, focusing, being curious, open to new experiences and controlling your temper. These skills are important in getting a job. It can help children become more self motivated and open minded. As they grow older it will benefit them because they will be willing to take risks, be able to retain information that they learned and have the urge to experience new things. When they can’t do something right, they will ask and try to fix any imperfections that they once had. These skills are not taught in other areas of schooling. Preschool is the most important grade that p... ...2/139583385/preschool-the-best-job-training-program. Barnett, W. Steven., and Hustedt, Jason T. Preschool: The Most Important Grade. Educational Leadership Apr2003, Vol.60 Issue 7, p54, 4p, 1 Color Photograph. October 31, 2011. http://web.ebscohost.com. Ames, Gillespie., and Haines, Jacqueline., The Gesell Institute’s Child from One to Six: Evaluating the Behavior of the Preschool Child, October 20, 2011. P30,40-41 NAEYC. August 17, 2011. NAEYC Early Childhood Education Program Standards and Accreditation Criteria. P5, 7-8. Personality Development: Age 2-6. September 1, 2011. P1-2. http://www.cliffsnotes.com/study_guide/Personality-Development-Age-26.topicArticleId-26831,articleId-26775.html. What Kids Really Learn in Preschool. Parenting; Fall99 Special issue, Vol. 13 Issue 7, p74, 4p, 3 Color Photographs. October 31, 2011. http://web.ebscohost.com.

Analysis of Marks and Spencer :: Retail Company England Marketing Essays

This is a report on Marks and Spencer a well known retail company in the UK. Marks and Spencer has also recently been in the news for falling profit and sales in 1999/2000. So Marks and Spencer is now on its way to recovery. It’s famous for setting the highest of standards in the retail industry, pioneering its own charge card and generating such snob value on its products, yet controlling prices to bring their products within most people's reach. Marks and Spencer has extended its brand overseas where it continues to achieve substantial growth. This is likely to be its main source of growth in the near and long term future as the company develops its franchise business. There are around 628 locations for Marks and Spencer’s. The company makes great weight of how it is run - first class customer service, operating efficiency (through economies of scale), long-term partnership with suppliers, financial services, staff rewards and overall packages the best in the high street. Following a wide-ranging and detailed strategic review of its business, the Board of Marks & Spencer has announced significant changes to the Group strategy and structure. The Board and management team is committed to restoring profitable growth. This will be achieved by total focus on the recovery of the UK Retail business. The organisation has always monitored its performance by first making clear objectives for the business. Without clear objectives it is difficult to evaluate what a marketing plan is trying to achieve or whether the plan has been successful. It is usual to translate marketing objectives into quantifiable â€Å"result areas†, such as market share, market penetration or growth of sales. Some of these may be further broken down into specific sales volumes, value goals or geographical targets. Marketing objectives allow Marks and Spencer to have a basis for evaluation which can then be analysed after a certain period of time. Each department most make sure that the organisational activities are co-ordinated in such a way that marketing objectives are met. Every organisation including Marks and Spencer involved in a marketing activity is faced with a number of constraints which seem to hinder their performances when monitored. Internal constraints relate to the resources available for Marks and Spencer, while External constraints involve a series of factors within the business environment that limit in one way or another, the organisation’s activities. Examples are below: Ø Consumers Ø Competitors Ø Economy Ø The law Marks and Spencer seem to monitor their performance by being market focused as they research all these constraints fully and will try to find solutions that enable it to turn weaknesses into their strengths threats into opportunities.

How the Leather Industry Handles a Specific Operations Management Issue or Set of Issues Essay

Operations management is the field which is concerned with organizing and executing physical and technical activities of a firm. These actions are conducted by a combination of raw materials and processing or assembling the various components, using the services of workers, machines, tools and power. It is a typical integration of many different functions. Operations management plans normally include instructions in principle of general management, manufacturing and production system. An operation may be defined as â€Å"the process of changing input into outputs by adding value to some entity† (Edurkar, 2009). The two key functions are to provide a product or service and to sell that product or service. It involves the planning and scheming of all functions necessary for the procurement of the firm’s product or services. There are some specific aspects of operations management product or services to emphasize; company volume and location of business feasible for customers and suppliers, marketing strategies, techniques and machinery to make goods, workforce management and training and quality assurance. While establishing a leather industry in Kanpur India or even a small unit, an entrepreneur is required to pay attention to various grounds like size, location and layout as they shape the efficiency of production. Such factors should preferably be considered by the entrepreneur at the project planning stage, and they must be cautious about them at the project implementation stage. A leather industry is commonly comprised of four sectors; the foremost and primary sector being the tanning and finishing sector (Singh, 2002). This phase in the production process possesses a lot of importance because the leather industry involves both small and heavy industries, so its size varies and depends upon the availability and accessibility of a large raw material base. Country’s livestock like buffaloes and goats provide basic raw materials for this industry. Some factors determine the size of the industry like land, building, etc. Size of land should be enough to take care of present and future requirements like storage of raw material and finished goods. Kanpur in Utter Pradesh is a city which enjoys abundant availability of raw material and it is very easy to establish a leather production unit there because it also has basic infrastructure for this business (Bhargava, n. d. ). As proper location of an enterprise is crucial for its success, so Kanpur is the place where a novel entrepreneur can establish his leather business easily, because availability of raw material and cheap skilled labor is not a big deal as it has a professionally developed leather market. The first issue of operations management is the designing of a system. This begins with product development. It should start with the assessment of customer needs and gradually grow into product design. The competence and apparatus that will produce a product, as well as the information system needed to observe and control performance, are part of this design process. As far as the leather industry or unit is concerned, one factor is quite interesting and encouraging that this business in developing countries like India is not as difficult or complicated in terms of competence and equipment needed. For example, a newcomer can initiate a small cottage leather industry with reasonable investment and can get a cheap skilled labor force. Kanpur is the largest centre of buffalo based leather in India. Its tannery industry (tanning is the process of preserving skins of animals to produce leather) began during the British rule and the industry has continued to grow since then. Most of the tanneries are small, so it is quite feasible for an entrepreneur to initiate a leather-oriented business in this region. Leather production system design in the specific region is dependent upon the existing resource base. During recent years, most of the leather industries have shifted from industrialized to developing countries. Reasons can be frequent availability of raw material, cheap labor cost and flexible environmental regulations. As environmental regulations are stricter in the industrialized developed world, establishing leather business in a country like India can be helpful for an enterprise so that chances of changes in its layout would be minimal.

Cardiovascular Endurance of the Genders Question Essay

Cardiovascular Endurance of the Genders Question- Does weight and differences of age have to do with different heart rates and recovery times with the step test experiment? Independent Variable Pre- Exercise Heart Rate Dependent Variables 1. Post- Exercise Heart rate 2. Change in heart rate 3. Recovery Time Hypothesis – If a subject being tested is fit then there should not be a big change in heart rate and there should be minimal recovery time to get back to the normal heart rate in which they started. Experiment Protocol- 1. Testing all members of the group and recording the results. 2. Measure pre-exercise pulse rate using a pulse monitor of the first subject 3. Making sure the first subject is in sequence with their steps to the metronome 4. This sequence should be 3 minutes with a rate of about 25 steps a minutes on a six inch step 5. After the exercise the subject has to sit down immediately 6. The pulse monitor needs to be taken out. 7. Then measurements should be taken of the subjects post exercise pulse rate 8. Then the timer was taken out. 9. Next the subjects pulse rate was monitored until it returned to the pre-exercise pulse rate which is the recovery time. 10. Steps 2-5 had to repeated for others within in the group 11. After everything was completed the results were compared with other groups in the class. The measures that were taken to ensure consistency throughout the experiment were to just do everything at relatively the same pace with every subject so there would not be any dramatic changes in data. Conclusion- In conclusion it does not matter whether you are male or female when it comes to cardiovascular fitness. This is because cardiovascular fitness is entirely based on a test that assesses your fitness level based on how quickly your heart rate recovers after exercise. The fitter you are, the uicker your heart rate will return to normal after exercise. I accept my hypothesis because my results from the people in my group as well as the class showed that the fitter you are the quicker your heart rate will return to normal. My conclusion could possibly be different If I only analyzed the data gathered by my lab partners of my table because this would not really allow me to determine if cardiovascular fitness is actually based off gender or fitness due to the high ratio of three women to one man compared to the whole class. Improvements to the experiment- 1. one way to improve this experiment would be to have a chart that shows good, poor, or average Heart rates to have a better idea to make comparisons between gender cardiovascular fitness 2. Another way to improve my experiment would be to be more consistent with my group members in transitioning from the pulse monitor to the timer so we don’t have to start over 3. Another way to improve this experiment would be to run it longer than three minutes and more than once to see if the data is consistent.

Linear Technology Essay

Linear Technology is a technology company that focuses on the different elements of semiconductors. The company mostly focuses on analog products within the semiconductor portion of the electronic industry. Linear Technology was unique in their payout policy in the sense that they started with announcing dividends and then continued onto repurchasing. Linear started dividends to gain the respect of investors as well as show that buying shares in the company of Linear was less risky than all the other technology companies. Additionally, they repurchase stocks to offset the employee stock options that the company had as a large component of the employee compensation, which helped Linear in the years of low or slow sales. As stated in the case description, Linear has a strong cash flow as a company. In the basis of the financial needs for Linear Company, as a whole they need to make sure they are able to cover the executive stock option costs, as well as their capital investment in the fabrications facilities. In the case it is stated that Linear spent $200 million for new analog fabrication facilities, so therefore that expense would be a large and important financial need. Additionally, they need to keep some money set aside for expansion in the future. Since they don’t appear to be focusing on acquisitions at this point in time, they do not need to consider that in the financial needs, however if acquisitions do appear in the future they will be needed to take under consideration. Companies are supposed to drive value by growing the value of the company and the stock or by returning cash to shareholders. In the case of returning case to shareholders, it would be recommended as long as it is in line with the future strategic growth plan. As far as this particular case, there is nothing that indicates a specific growth plan in the near future but it can be presumed to have some expansion in the future. Overall, it would be a good recommendation to return cash to shareholders as long as the executive stock options, fabrication investments, and strategic growth plans for the future have all be met. A benefit to paying out cash to shareholders is th at it shows strength in the company as a whole. By showing strength in the company, share prices in turn with will increase because investors seek higher dividends. Companies with higher dividends are seen are more valuable. A disadvantage to returning  cash to shareholders is if Linear is unable to meet their dividend rate, they will be greatly punished and penalized causing their stock price to rapidly decrease. Additionally higher dividend means less cash in the business for future growth, which limits possible expansions in the future. In the terms of tax consequences, they should be relatively minimal since most of their investments are short-term investments. Typically, in the business world, short-term investments usually only have a tax of 1-3% which is nominal compared to others. Linear would only be paying taxes on the cash on the interest earned, which again will be relatively small. If Linear Technology were to pay out its entire cash balance as a special dividend, they would increase their risk of financial distress costs by greatly tightening their financial flexibility; which may also create extra transaction costs for the company. The firm’s value would greatly decrease because by paying out the entire cash balance the company would be significantly diminishing their asset value. As shown in Exhibit A, the overall value of this action would decrease the firm’s value by the total cash times the rate of interest: $1,565,200,000 * (1+3%) = $1,612,156,000. With the special dividend, Linear’s share price will increase by the amount of the dividend paid out. Therefore, with the number of shares outstanding at 312.4 million, there will be an increase of $5.01/share as shown in Exhibit A. The current share price is $30.87, so with the special dividend, share price will increase by $5.10 to $35.97/share. Although share price and the value incurs changes with the payout of the entire cash balance, earnings and earnings per share remain the same. Earnings and earnings per share are not affected by the dividend payout. Another option Linear Technology has to exercise its excess cash balance, they can repurchase shares to increase the value of the firm. This repurchase option is beneficial to the company and shareholders because in an open market share repurchase has no effect on the stock price. In addition, by repurchasing shares the firm’s earnings and earnings per share will increase. As shown in Exhibit B, by calculating the total numbers of shares repurchased (total cash balance/price per share) and subtracting it from the number of shares outstanding will give us the number of shares left outstanding after the repurchase to be 261,703,052. Exhibit B shows how this decrease in the number of shares drove up the earnings per share value by $0.10 from $0.55 to $0.65. When the company repurchases shares instead of paying out in special dividends, the firm’s value will increase and it also allows the firm to retain its cash reserves within the company. In general, companies pay dividends for a number of reasons. Dividends provide certainty about the company’s financial well being. Many investors prefer the steady and secure income that comes with dividends and see dividends as strength in the company and a sign of future positive earnings. Dividend initiators tend to be large and stable firms with low growth rates but emit high profitability ratings. Typically a company is at the mature stage of their business cycles and in turn causes the company to generate a large amount of money in cash. Paul Coghlan should recommend to not raise the dividends but to initiate buybacks. Linear already as higher dividends rates than all of its competitors. As a whole, the company 5 cents while Intel was only at 2 cents per share after the dividends were diluted. Also, if the company were to raise dividends, it would have to be at a level in which they could maintain for a long period of time and Linear does not have the extended amount of cash that Intel, Microsoft, and Cisco have and none of those companies have dividends at the level of Linear. Overall, Linear should do another stock buyback because earnings per share would increase since there will be fewer shares which will bump up the value of the stock.