H.W 12 GSC125-01 Essay Example | Topics and Well Written Essays - 250 words

H.W 12 GSC125-01 - Essay Example More intense cells (tropical squall clusters) can form that are similar to middle latitude squall lines. In contrast to middle latitudes, there is very little horizontal pressure gradient. 3. Describe the typical weather in the eye of a hurricane. Answer: The eye is at the center of a hurricane and is an area of almost cloudless skies, subsiding air and light winds. The eye generally ranges from 10 to 65 km across, shrinking in diameter as the hurricane intensifies and winds strengthen. Passage of the hurricane eye is followed by heavy rains and ferocious winds blowing from the opposite direction. 4. What three conditions are required for a tropical cyclone to form? Answer: A relatively high sea-surface temperatures, adequate Coriolis Effect, and weak winds aloft are the three necessary conditions for a tropical cyclone to form. 5. Why does a hurricane weaken when the system tracks from ocean to land? Answer: A hurricane over land is no longer in contact with its energy source, i.e. warm ocean water. Additionally, the frictional resistance offered by the rougher land surface slows the wind and shifts the wind in direction toward the low-pressure center of the system causing the storm to fill and weaken. The system may still produce tornadoes after making landfall, partially due to strong wind shear between the surface and aloft. Chapter 12, Critical Thinking Questions 7.

Single-Parent Families Essay Example for Free

Single-Parent Families Essay There has been a lot of misconception being attributed to children who are raised by single parents in regard to their development and well being. Single parent phenomenon is no longer something unheard of in our society. Such families are commonplace in our societies today. According to the United States Census Bureau, close to a third of American families are headed by a single parent. The number of single parent families was estimated to be slightly above the 12 million mark in 2000 (Ketteringham, 2007). With an increasing trend in the single parent families across the US, researchers have conducted surveys to measure the impact of such households on the child’s welfare. There have been misconceptions that single parent families are doomed in that their children are usually associated with drug abuse, being delinquent and dropping out of school among other unconventional behavioral problems. This is however untrue because when such children gets the emotional support from the single parent, they are destined to show positive results just like any other kids from normal families. This paper shall look into the evidence that denounces the misconceived myths that are associated with children from single parent households. Single parent families: Single parent households are no longer considered as unconventional in the world today. A single parent can be defined as â€Å"a parent with one or more children, who is not living with any of the children’s other parents† (Ketteringham, 2007, para 3). In the United States, the number of children from normal family set up has been decreasing each year and an estimated 22 million kids live with single parents. Women headed families account for about 80% of the single parent households though men headed single households has been increasing in the recent past. Research reveals that mothers account for 85% of custodial parents whereas the fathers take the remaining 15%. It was also found that more than half of the children under the custody of the mothers do not access to their fathers regularly after a couple of years into the break up. The 2000 census revealed that 38% of single families resulted from divorce, 35% were never married parents, separation accounted for 19%, widowhood and separation due to other commitments each accounted for 4% of single parent families in the United States (Ketteringham, 2007). Generally, female headed households are more in comparison to male headed households. There are many reasons that can explain why mothers account for a majority share of the single parent families but the main reason would be the fact that women are seen as nurturing compared to men and thus have to take the responsibilities of the young children (Lamb, 1998). Historically, the father was seen as the central figure that could provide for the children and prepare them for the future. In the years that followed after the First World War, there was a shift and mothers were seen as vital in nurturing of the young ones and hence custody of the children was handed over to them. Starting in the last third of the 20th century, the courts have been trying to adopt a middle ground at least in theory to enable men have an equal chance of having their kids in custody as the women. Reality however suggests that very few fathers have been granted custody of their children in comparison to the mothers. David Blankenhorn observes that â€Å"the United States is becoming a fatherless society, a generation ago; an American child could reasonably expect to grow up with his or her father. Today, [the same] child can reasonably expect not to,† (Blankenhorn, 1995, p1). Initially, fatherhood was regarded as of great importance in the lives of children and death of the father was the worst tragedy to happen in a child’s life. In the current times, a father leaving the home has become too common and the society seems accommodative of the habit (Blankenhorn, 1995). Challenges of single parents: Child rearing is always full of challenges and the challenges are even intensified when one parent assumes the responsibilities that are associated with parenthood. Among the major challenges facing such families is usually financial as most of them cannot afford to stay in the homes babysitting unless they have a stable financial background. For such parents, combining working and caring for the children becomes a great challenge as they have to find a person who shall be handed the responsibility of taking care of the children as they go looking for a job. Though daycares provide these services for such parents, economical constrains forces these parents to look for financially viable options in the name of extended family members or child minders (Lamb, 1998). A single parent is therefore overwhelmed by the pressure of taking care of the children and looking for financial relieve by landing a job elsewhere. They usually swing between their daily jobs and the un-paying jobs waiting at home. Handling the house chores after a tiring job during the day is a great challenge especially when the kids are still very young. With the parent tied between responsibilities at the workplace and the home, little or no time can be dedicated to spending with the children and this may lead to other challenges. Single parents hardly find time to get involved in their children’s school work and other activities. Being involved in the child’s life is crucial as a parent (Ketteringham, 2007). Instilling discipline in children is also another challenge faced by single parents as they are sometimes too overwhelmed to notice it. It is crucial to observe good parenting skills, patience, and love among other aspects associated with parenthood when the kids are young so as to grow in an upright manner. It is also important to observe that the single parents have no time for themselves as they oscillate between the work place and household chores and this has proven to be a challenge in itself for it may worsen the other challenges being faced by these parents (Garis, 1998). More often than not, single parent families are discouraged with the generalized statistics that are revealed by studies into the impacts of single-parenthood. What the researches fail to reveal is the fact that also dual parent families also comes up with challenges of their own. Though single parent family is a concept that no one will encourage, the reality of the matter requires us to think positive of such families. With the statistics revealing increasing numbers of children being raised with single parents, there is need to offer realist tools and opportunities by highlighting the positives that come from the single parent families as opposed to dwelling much on the negative statistics (Lamb,1998). Generalized Myths about children from single Parent families: Studies conducted on the issue of single parent families have continued to associate all the negative behavioral aspects in children to the family set up. In the US, the concept of family structure has continued to reveal negative statistics that are associated with the children from single-parent families. Statistics indicate that low birthrates and high death rates are prevalent in the single parent households. There is a revelation that teenagers from these families have a higher school dropout rates and lacks good health compared to their counterparts from normal families. Incidences of teenage pregnancy have been reported to be higher in such children as opposed to those from dual parent families (Garis, 1998). The negative portrayal of single parent families has continued with the depiction that such families’ children becomes depressed, emotionally stressed, and exhibits general difficulties in school. Revelation has also associated delinquency with single parenthood as statistics reveal that over 70% of teenage murderers come from single parent households and 60% of rape crimes are committed by individuals from single parent families. Studies also reveal that individuals from single parent families have higher incidences of violent behavior compared to those from dual parent families. In a nutshell, single parent families have continued to be portrayed in negative light and no one can single out any positive elements from such a family set up (Ketteringham, 2007). Nowadays, problems that are associated with single parent families are common and this may leave those affected to think that they have no control over the success of their families as it is destined to be doomed. This should not be the case as critical analysis indicates that not all the children that have been raised in single parent households are maladapted in the society. When focusing on the negative aspects of single parenthood does not help the single parents and their children in rising up to the occasion and fight the negative aspects. In fact, by portraying the negativity of the single parent households kills the self esteem of the individuals affected and only adds to worsen the situation (Garis, 1998). Demystifying the Myths: The question that we need to pose to ourselves is about the children raised by single parent families and their supposed social mal-adaptations. Such children are said to find it difficult schooling, getting into conflict with the law, and developing other social problems. It should however be noted that the problems that are usually associated with children from single parent families are more from the financial inability of the parents as opposed to single parenthood as conventionally thought. There are incidences where single parents have brought up well behaved young individuals in the society (Ketteringham, 2007). Single parent families are faced with financial problems as the financial resources are cut leaving the family in dire need of finances. The single parent is left struggling to make ends meet and this leaves no or little room to attend to the children at the same time difficulties in meeting the financial requirements of the family. Studies have indicated that single parenthood and struggling for finances always coincides (Lamb, 1998). Children from single parent families are often associated with low self esteem compared to their counterparts from dual parent families. Self esteem is very crucial especially to young children as it helps them to counter the negative peer pressure giving them confidence to face new challenges and become innovative. Showing these children some bits of love is very crucial as it helps them develop a feeling that they are appreciated by someone. It should be noted that children can only emotionally benefit from a healthy parental relationship if not so; the children are going to suffer emotional neglect from the conflicting parents (Garis, 1998). Parental involvement in the child’s life is very crucial especially during the early developmental stages in life. The children require emotional support and understanding and sharing with the children is advocated for during this stage of development. Children who get the support that they need during this stage would definitely grow into normal citizens and thus rule out the connection between single parenthood and misbehavior of the children within the society. What should be an area of concern is how to ensure that single parents gets the financial support that is very central to the shaping of the child’s future. When the single parent starts struggling to cater for the financial needs of the family, it becomes the source of all evils. This is because struggling for financial upkeep leaves the single parent with little time if any to spend with their children. However, the affluent single parents can comfortably bring up an upright family as they have enough time to spend with their children (Garis, 1998). Single Parenthood can become a success story: There are misconceptions about single parent families branding them dysfunctional and associating children from such families with social maladaptive behavior. Though they are faced with unique challenges, single parents can successfully address these challenges and provide a good background to their children. It should be noted that the love, stability and safety requirements that are needed by the children is similar irrespective of the number of parents in the household. No one would wish for separation of any sort but though children of single parents are not showered with the much needed parental love, the love cannot be compensated for by the severe and prolonged stress in the relationship between parents (Lamb, 1998). It is often advisable for parents to separate for the good of the children other than exposing the children to the tension in the relationship. Single parent families do not have a common background as some results from divorce, others from separations, whereas others result when one parent passes away. Single parenthood can be a challenge to any other person irrespective of race and/or ethnicity. Every individual is set to undergo similar grief upon losing a serious relationship. All single parents are faced with similar emotive challenges in regard to the changed status and thus needs great strength to cope up with the new status (Garis, 1998). Children from single families become emotionally vulnerable and thus single parents have the responsibility to ensure that the emotional bit has been well catered for in the family. Their top most priority should be the family as they aspire to be the best single parents like no other. This means that the interests of the child should be placed first and that a lot of sacrifices are to be made in attending to the child’s welfare. Such parents need to be supportive and observing patience to help the children in coping. They should be consistent but not highly punitive like any other parent to provide the child with options, utilize the natural and logical effects and at the same time providing structure for the kids. There is need for open communication between the child and the parent which encourages clear and open expressions to develop an honest and a trustworthy relationship (Garis, 1998). Many single parents have to redefine their situation in order to fit in the new status. They have to learn how to live within the limits of a reduced income and restructure their relationships with the kids. Developing clearly defined roles within the household can come in handy in compensation to some of the challenges faced by the single parents. A clearly defined structure for the kids to regulate meals, chores, school work and entertainment among other activities is necessary. This helps in bringing a sense of security and reducing anxiety in the children. Communication, understanding and cooperation are very important to single parents but it should be noted that these parents should not leave adult responsibilities to the children (Lamb, 1998). Conclusion: Though we cannot deny the fact that separation or rather loss of a loved one in a relationship comes with its emotional distress, it should not be misconceived to mean that the remaining family is condemned. What is important though is the fact that the single parents have to accept their new condition and manage the depression that may accompany the situation. This is very important as it prepares one to deal with challenges that come with single parenthood. Single parenthood shall remain part and parcel of our society for ever. Instead of focusing on the challenges of single parenthood, researchers need to shift and focus on how single parent families can be helped to overcome the challenges facing them. Belonging to a single parent family should not be viewed as a ticket to an unhappy family since it is evident that with appropriate intervention, success in such families is realizable. In general, parenthood can be challenging and it is even more challenging when the responsibilities are left to one parent. Reference: Blankenhorn, D. (1995). Fatherless America: confronting our most urgent social problem. BasicBooks, ISBN 0465014836, 9780465014835. Garis, D. (1998). Poverty, Single-Parent Households, and Youth At-Risk Behavior: An Empirical Study. Journal of Economic Issues; pp 1079-1085 Ketteringham, K. (2007). Single Parent Households How does it affect the Children? Retrieved on 10th May 2010 from; http://www. associatedcontent. com/article/297615/single_parent_households_how_does_it. html. Lamb, M. E. (1998). Parenting and Child Development in Nontraditional Families. Mahwah: Lawrence Erlbaum Associates.

Election Reform Amendment Essay -- Campaign Finance Reform, Super PACs

Introduction: In the last election cycle, 132 Americans accounted for sixty percent of all the Super Political Action Committees’ (PACs) money (Lessig 2013). With statistics like this, it is no wonder the average American does not feel as though his or her vote is meaningful. In the scheme of the corruption of political money, it truly isn’t. In the current American way of government elections, the average citizen does not choose the candidate; he or she merely has the opportunity to decipher which best fits his or her beliefs, out of the ones suggested by the large election donors. Since this is what a citizen’s vote currently decides, many Americans feel they are choosing the lesser of two evils when electing a candidate. This is not to say that all elected officials are evil, it just confirms that citizens are not getting the voice they are assured in the Constitution. Year after year incumbents are reelected, but the approval rating of Congress is lower than root canals and head lice (Jensen, 2013). In the 2002 Congressional elections, 94% of the candidates who raised the most money won their races (Ackerman & Ayres, 2002). When these statistics are viewed together, they do not make sense. Why would unpopular incumbents retain their seat in office? The only explanation is funding, and the trend has always been that the candidate with the most funds wins; most notably with incumbents in Congress. Candidates are not all to blame for this happening, a great deal of the problem can be attributed to the way the system has been established. Instead of candidates focusing on key interests, they focus on what will allow them to earn the most money. As Leslie Byrne, former representative from Virginia, was told when coming into ... ...nce (2013). Lester Land: The Corruption of Congress and How to End It. TED Conferences. McPhail, Stuart (2013). "A Million Corporations With a Million Campaign Ads: Citizens United, the People’s Rights Amendment, and the Speech of Non-Persons" Retrieved from http://works.bepress.com/stuart_mcphail/1 Nichols, John, and Robert McChesney (2013). Dollarocracy: How the Money-and-media Election Complex Is Destroying America. New York City: Nation Books. O’Donnell, Ryan (2013). Support for Amending the Constitution to Overturn Citizens United is One-Third of the Way There. Free Speech for People Organization. Retrieved from http://freespeechforpeople.org/node/601 Page, Susan (2012). Why 90 Million Americans Won't Vote in November. USATODAY.COM. USA Today. Retrieved from http://usatoday30.usatoday.com/news/politics/story/2012-08-15/non-voters-obama-romney/57055184/1.

MBA

The 20th century revolutionised the idea of leadership and management. As little as ten years ago, leadership and management were clearly separated by rank, position and chain of command. Leadership was seen as something natural, which could maybe not be skilled. It was the stuff of Bill Gates and Richard Branson, the giants of technology and commerce who belonged to a very exclusive club of like-minded individuals. These people manifested the kind of leadership that was connected to charisma, power and the ability to inspire others to buy into their vision. In the past, you needed the right connections or at least an MBA to become a leader of anywhere near that caliber. The ethos was driven by political visionaries such as Margaret Thatcher and Ronald Reagan who promoted the ideas of free enterprise and a move away from socialist economies. It is not simple to understand what are the differences in the role of team leadership and organization leadership? As for me the roles for leaders do change, as will be explained in more detail which include: adjusting organisational structures and supports for collaborative work processes   and monitoring and mediating environmental factors that effect internal operations. Team leadership concerns the level and focus of way a team communicate. Team members may share leadership amongst them or rely on a chosen leader. Wherever it resides, leadership is important in channeling team energy and efforts, and in helping to work through conflicts and problems. Clearly absent from the High-Performance Team Wheel is â€Å"the leader,† as most important aspects of leadership are contained in the nine dimensions and can effectively least in theory—exist without a formal authority or designated leader. After long comparison I concluded that team leaders coordinate while leaders of organization control work and work processes. As general organization leaders are its managers. The team leader's job is to develop the business and the business strategy – e.g. formally or informally researching and identifying new business opportunities. Organization leader are more involved in setting objectives, drafting plans and implementing the work. Moving people is very much part of its role while, at the same time, organization leader   must know how to motivate staff on a daily basis. Team leaders coach and develop e.g. by setting up mentorship relationships between new entrant graduates and experienced, successful senior managers. Organization leader s on the other hand is engaged in training and managing/monitoring staff performance. The leader's role is to renew, reinvent and replenish, while organization leader measure, evaluate and monitor. 21st century leadership is also about growing and developing self-managing teams. Organization leader are more concerned with building and managing conventional teams. The role of leadership is required to communicate a vision of how products need to be developed and to define the desired development process objectives under this new paradigm. Is the focus on time-to market, on product performance and technology, or on product or life cycle costs? Each of these objectives will result in a different orientation for the development process. Specific goals should be established and communicated – â€Å"we will cut our development cycle by 40% over the next three years†. Priorities need to be established – â€Å"we will focus on establishing an effective team-based approach to development before we invest in upgrading our CAD systems†. Resources and funding mechanisms for this effort need to be committed including time for personnel working on the IPD initiative, training, process improvement, and tools implementation. Will these efforts be funded by a separate budget, by departmental budgets or by development program budgets? Explicit guidance is required on objectives, goals, priorities, resources and funding mechanisms. Once the key people in the organization develop a plan of action, it must be reviewed, approved and actively supported by executive management. Leaders must have a wide range of skills, techniques and strategies, which are the same to both organization and team leaders. These include: Planning Communication skills Organization Awareness of the wider environment in which the team operates Jack Welch, respected business leader and writer is quoted as proposing these fundamental leadership principles: There is only one way – the straight way. It sets the tone of the organisation. Be open to the best of what everyone, everywhere, has to offer. transfer learning across your organisation. Get the right people in the right jobs – it is more important than developing a strategy. An informal atmosphere is a competitive advantage. Make sure everybody counts and everybody knows they count. Legitimate self-confidence is a winner – the true test of self-confidence is the courage to be open. Business has to be fun – celebrations energies and organisation. Never underestimate the other guy. Understand where real value is added and put your best people there. Know when to meddle and when to let go – this is pure instinct. Worked Cite: 1. Daniel. F. Predpall, ‘Developing Quality Improvement Processes In Consulting Engineering Firms’, Journal of Management in Engineering, pp 30-31, May-June 1994 2. Richard Pascale, ‘ Managing on the Edge’, Penguin Book, pp 65, 1990 3. John Fenton, ‘ 101 Ways to Boost Your Business Performance’, Mandarin Business, pp 113, 1990 4. Welch, J. (2001). Jack: Straight from the gut. New York: Warner Business Books. Samsung in bloom. (2002, July 15). Newsweek, 35. 5. Patrick M Lencioni, Jossey-Bass The Five Dysfunctions of a Team, , San Francisco, CA, 2002                      MBA I would like to share the considerations which I have made in my choice to enroll in an Executive MBA program. I believe that the program would help me grow in both personal and professional realms, through an acquisition of both technical and soft skills. Through the rigor and discipline required, I will be equipped with academic content that will help me function more effectively in my job. In securing a Masters’ degree, I also to develop the necessary soft skills that will hone managerial effectiveness. In particular, I want to be enlisted into a program that will help me further develop my skills of problem solving, written and oral communication skills, information retrieval and utilization, and collaboration. From a â€Å"working knowledge† level, I want the program to help me advance to a â€Å"can do† level. For my problem solving skill, I want to learn more on how to analyze and synthesize the emergence of problems, patterns and causes and to generate solutions or options in solving critical or complex issues through various means. I also want to be capable of identifying new, innovative and creative ideas/options to overcome problems. For communication skills, I want to learn how to foster an atmosphere of open communication and to see things from another's perspective. In addition, I want to learn how to assess the need of the audience in order to deliver the appropriate message and content. For information management, I want to broaden my perspective by ensuring that information is free of distortions or personal bias. Finally, on collaboration, I expect the program to teach me how to develop and maintain a strong network of contacts in the industry and outside the company and use this to promote my company's reputation. I also want to learn how to actively building lasting business relationships with other department or companies, private and government institutions. Pursuing this degree is one of my educational goals in the near future. I want to secur the degree within the next 5 years as I simultaneously strive to continue developing my accounting and management skills. I will carry this out by conscientiously attending training and workshop sessions for accounting and administrative professionals. I would also be actively engaged in planning for my own development in my current workplace, suggesting means and venues for skills acquisition to my superior. If time permits, I also intend to join a professional organization within my field of expertise striving to work my way up to a role with greater responsibility and to pursue a Doctorate degree simultaneously to further increase my management competencies. I am fortunate to have been given proper and comprehensive exposure to management roles. I have held positions which allowed me to exercise a substantial degree of autonomy. The positions which I have thus far held helped me to think critically and to make rational decisions amidst ambiguity. While I do not have an exceptionally high GPA, my experience in the organizational setting, I believe, may compensate for this short coming. Upon graduation in 1989, I have worked for a decade in manufacturing companies, holding accounting positions. These include the positions of Cost Accountant, General Accountant, Plant Accountant, and Finance Manager. Gradually, my circle of influence has grown with increasing responsibility. There have been no significant changes in terms of the technical requirements of these roles. The increasing responsibility came with the need to manage people, which is more of a challenge than the technical aspect of these jobs. I take pride in saying that while I have not been academically exceptional, I have been effective at performing these roles, being both results driven and yet to have enough focus on people management. Thus far, the position of Finance Manager have been the most challenging role I have performed so far. Whereas before I was only expected to deliver daily management plans or short-term objectives, this role has necessitated strategic and â€Å"big picture† thinking. In this role, I have also been required to manage people, and have realized that it it important for them to realize how their objectives are meaningfully linked to overall organizational goals. Recognizing the importance of one’s contribution has been an effective motivator. The intangible factors of autonomy, relationship with superior, and engagement cause people to be results-driven and constantly motivated. The people management component of the role has helped me keep a more balanced perspective or focus on work vis-à  -vis people, and initiatives may be cleverly drafted so that one component complements the other. In resolving to apply in the program, I have been convinced that it is critical to my personal development and learning, and may also be key to progress in my career. In entering the program, I expect my technical and management skills to be developed further. For problem solving, I want to be able to break down problems and see patterns or basic relationships or connections among them. Moreover, I want to be able to utilize several analytic or creative ways to break apart complex issues into component problems and to evaluate the identified alternative solutions to problem. I would also want to be taught how to use logical, systematic reasoning to understand and resolve, analyze and resolve issues. In terms of communication skills, I want to express ideas more effectively in both written and oral communication and to pick up non-verbal clues and use non-verbal information. I want to practice effective use direct, open, two-way communication and read beyond what is said and to alter my own behavior to respond appropriately. Information management is also one of the areas which I want to develop. I want to be able to compare, recognize and correct discrepancies with multiples sets of data to balance records and to utilize monitoring systems to ensure achievement of goals of individuals in the organization I work for. I also want to be taught the rigor of verifying or uncovering additional information for accuracy. I also want to be more effective at collaborating with others. I want to build good relationships with people within and outside of the organization to identify or resolve differences, issues and obstacles. All these soft skills, together with the technical content that shall be imparted in the program will help me become a more effective professional. I am thoroughly convinced that to progress in one’s profession, there must be continuous passion for learning – both academically and through practical applications. The learning not only comes with solid academic content but also equips one with the soft skills needed to advance in one’s career. This realization of the value of learning upon application to the program in itself is valuable. I have changed my perspective of learning as a tedious process, to one in which I could be actively engaged, and to even have fun. I really appreciate what the program has to offer, and its promise of helping me advance both my personal and professional career. I also expect the program to espouse an atmosphere of learning where students can be inquisitive. That is, where questions and further inquiry are encouraged. Moreover, I hope that the teachers of the program may be prudent in knowing when to handhold a student and when to let him work independently. There may be some subjects which I will find difficult and in which I expect more help from my Executive MBA mentors.    MBA My decision to pursue my MBA rests on my commitment to improve myself. Being a firm believer that learning is a life-long process which should an individual’s top priority, I am applying for an MBA program with the hope of furthering my strengths and competencies while contributing my acquired knowledge and skills to this institution. After my college graduation, I remember being very much excited on applying the theoretical concepts which I have learned inside the four walls of the classroom into the outside world. Surprisingly, working in the corporate arena equipped me with the new skills which are beyond what are taught by professors. My job experiences furnished me with the capacity to lead, become creative as well as self motivated. Having been assigned to lead my team in the creation of communication tool for managing promotions, I have experienced how it is to manage a workforce with members of different values, expertise, and ideas. I can say that the most challenging part in being a leader is coordination especially because I’ve dealt with a team from different functional areas. However, this experience taught me the essential qualities to be an efficient leader—being goal-oriented, credible, approachable, firm, and the ability to deal with a diverse workforce. I am the type of person who doesn’t settle for the conventional but as much as possible, I look for ways to improve things. In the business sense, I apply this through a continuous search for ways which can help my business organization to be more efficient like the communication tool I have described above. I believe that my acceptance for the MBA program should not only be credited for my skills that I currently posses but even more for my passion in gaining more knowledge and enhancing my skills in order for me to reach my full potential. I am very much motivated to excel in my career but more importantly is my motivation to improve myself. I know that there is no simple formula which can make a person succeed in everything that he does. My measure of accomplishment is usually gauged in the amount of things that I have learned from the experience and not victory itself. So far, I am very proud of the three accomplishments which have instilled me with a sense of fulfillment namely being able to land my first full time job at VCS, being a core team member of business projects, and leading a team which worked for the creation of a communication tool for promotions management. I am one of those fortunate fellows who have experienced the thrill and challenge of landing a first full time job after searching for months. I can still remember how overjoyed I was when I am informed that I am hired for the position of _________ at ______________. This job opportunity has tested my patience and perseverance. The company also became the first venue for me to apply my knowledge and skills and instilled me with the values of being a good employee. Secondly, I am proud to be a core team member of the Business Objects project where members representing various departments worked hard together to reach a common goal. While we spent countless hours to test and implement the project, in the end, it is very much self-fulfilling. I value the ideas that I have learned from my colleagues as well as the good working relationship which we have established. Lastly, I consider launching a communication tool for managing promotions, which is now utilized by sales, operations, finance and senior management the most challenging task that I have ever handled. I am specifically proud of my recognizing some of the shortfalls which I committed during the project because this is where most of the learning comes from. I am proud to have led the project which is now generating numerous benefits for the company not just in its bottom line but on overall efficiency.

Chronicle of a Death Foretold and Fly Away Peter Comparative Essay Essay

Menace and threat are two elements in fiction that often help to create tension and build towards a climax. These components are evident in David Malouf’s â€Å"Fly Away Peter† and Gabriel Garcia Marquez’s â€Å"Chronicle of a Death Foretold† under two overarching themes: sense of duty and violence. Through the perspectives and experiences of different characters in the stories, both Malouf and Marquez develop the concept of peril that is sustained throughout their stories of war and murder. In â€Å"Fly Away Peter†, Malouf introduces the notion of threat in the context of war – a place where people, including peace lovers like Jim, are forcibly drawn into. Jim is invited by Bert to ride on the bi-plane and Malouf reveals his â€Å"blood fear, a bone fear, of leaving the earth† and is thus portrayed as being resistant to change. When the war arrives, he feels â€Å"panicky† on this new and â€Å"dangerous slope† that had once been â€Å"ground [that]†¦ stretched away to a clear future† Brisbane is â€Å"sliding† towards Europe and the war as it is a duty befallen on patriotic men to prove their worth in defending the honour of their country. Many people seem to be supporting this view; Jim meets a girl who says â€Å"passionately† she would â€Å"want to be in it† because it is â€Å"an opportunity†, and similarly his father feels it is a â€Å"chance to reach out and touch a unique thing†. Malouf thus draws our attention to Jim’s change as he â€Å"slide[s] with the rest†¦ down into the pit† of war with â€Å"superstitious dread† and juxtaposes this to his initial â€Å"uneas[e]† about the â€Å"new presence† of bi-planes and man-made technology. This creates a sense of foreboding and threat, further emphasized by warnings such as â€Å"catastrophe† and â€Å"madness†, as Jim plunges into a brutal world of war from his sacred haven in the sanctuary (â€Å"the light, and then the dark†) to fight for his country. On the other hand, Marquez expresses the idea of threat in â€Å"Chronicle of a Death Foretold† through the rigidness of the townspeople in their ideas regarding tradition and family honour. To uphold the honour of their sister, the Vicario twins perceive as their duty to kill Santiago who supposedly took her virginity. However, this crime is largely condoned by their Catholic society and even Father Amador the priest pronounces their innocence â€Å"before God†. Marquez presents a town where first-degree murder is justified in the name of the cult of virginity and it is the responsibility of the men in the town to defend this tradition. Prudencia Cotes â€Å"would never have married [Pablo] if he hadn’t done what a man should do†. Her mother tells Pedro and Pablo them â€Å"honour doesn’t wait† and Clotilde Armenta voices her sympathy in saying it is a â€Å"horrible duty that’s fallen on them† as they are duty-bound to avenge Angela. The twins are forced to conform to society’s expectations of masculine assertiveness even if they â€Å"couldn’t sleep for the rest of [their lives]† on their conscience. In killing Santiago, the twins have â€Å"proved their status as men [and] the seduced sister was in possession of her honour once more† in defending the validity of their culture. The town can be viewed, to an extent, as dysfunctional and a tense atmosphere is present throughout the book as readers know the threat of this cult will result in an innocent man’s death. The theme of violence is exemplified in many characters and through the eyes of Jim, we see the menace posed in Man’s capacity to cause suffering and death in â€Å"Fly Away Peter†. Even before the war, violence is hinted as being part of daily life when Jim witnesses the killing of a lone man â€Å"with his hands over his face with blood between them† as â€Å"another figure, hurling itself from the shadows, brought him down†. Although Jim has always been consciously rejecting any notions of violence, he discovers â€Å"black anger† in himself and a potential for violence when he faces Wizzer’s bullying later. He is shaken to realize that he has come â€Å"closer to his father’s [similar] nature† of violence unwittingly to the extent that he does not wish â€Å"to be confronted with some depth in himself†¦ that frightened him and he doesn’t understand†. Killing in war is also epitomized by the brutality of Clancy’s death where Jim experiences for the first time Man’s ruthlessness on a personal level. Clancy’s senseless death comes as a shock to him and Jim is greatly affected by this; â€Å"the hosing off never†¦ left him clean† and often â€Å"woke from nightmares drenched in a wetness that dried and stuck†. Malouf forcefully juxtaposes the previous setting of Jim â€Å"buttering slabs of bread† with the diversely opposite scene of Clancy’s accident, effectively demonstrating the harsh reality of war. Clancy’s passing further shows another step in Jim’s loss of innocence as he feels touched by the horrors of war and menace is manifested in â€Å"Fly Away Peter† through the ordinariness with which violence presents itself. Violence is a dominant theme in â€Å"Chronicle of a Death Foretold† as it is in â€Å"Fly Away Peter† as it leads to the ultimate menace of Santiago’s death. It is a minor yet significant part of everyday life for most of the town; Victoria Guzman â€Å"[disembowels] rabbits†¦ pull[s] out the insides†¦ by the roots and throw[s] the steaming guts to the dogs† and Leandro Pornoy dies â€Å"gored in the jugular vein by a bull† – all of which are accepted by the town matter-of-factly. The murder of Santiago is brutal as his â€Å"liver was almost sliced in pieces†, his â€Å"pancreas [was] destroyed† and there were â€Å"perforations in the transverse colon and†¦ small intestine† among other injuries. His death has been â€Å"brought on by any one of the seven major wounds† and this reflects an unnecessary level of violence on the part of the Vicario twins. Even after his death, Santiago’s autopsy is mishandled as â€Å"a syrup-coloured liquid began to flow from the wounds, drawing flies, and a purple blotch appeared on his upper lip and spread out very slowly†¦ up to his hairline† and Father Amador remarks â€Å"it was as if we killed him all over again after he was dead†. Through the use of violence in the lives of common people and graphic imagery illustrating the aftermath of a murder, Santiago’s killing mirrors the menace in which the town is under in their acceptance of the idea of violence. The themes of male duty and violence in both â€Å"Fly Away Peter† and â€Å"Chronicle of a Death Foretold† develop the concepts of threat and menace. Malouf uses Jim’s dilemma in enlisting for the war to highlight the threat of the blind trend in which men fight to prove their masculinity even though it results in countless lives lost and Jim’s experiences in the war that draw on the idea of menace in the form of violence. Conversely, Marquez develops the notion of threat through the tradition of the town surrounding Angela Vicario’s enigmatic predicament which precipitates the menace of Santiago’s murder wherein violence plays an important role. A tense and portentous atmosphere is thus crafted in both books as the authors expand on these themes, building up to a final climax.

Chemical Engineer Salary and Experience

Chemical Engineer Salary and Experience Chemical engineering is one of the highest paying degrees for entry level jobs, with even higher payscales for experienced chemical engineers. Chemical engineers tend to be in high demand and are much more employable than chemists. Heres a look at typical salary ranges for chemical engineers. Chemical Engineer Salary Survey Based on Experience Chemical engineers can earn good salaries straight out of school, but years of experience or higher education can double the salary rate. Chemical Engineer 1 Year Experience: $51,710 - $66,286 Chemical Engineer with 1-4 Years Experience: $56,206 - $70,414 Chemical Engineer with 5-9 Years Experience: $64,618 - $84,199 Chemical Engineer with 10-19 Years Experience: $74,546 - $101,299 Chemical Engineer with More than 20 Years Experience: $83,304 - $126,418 Salary survey based on experience is from PayScale.com. According to the US Department of Labor (2008), the median salary for chemical engineering was $78,860. The middle 50% of chemical engineers had salaries between $67,420 and $105,000. The UKs Institution of Chemical Engineers (2006) reported the average starting salary for chemical engineering graduates was  £24,000, with an average salary for all chemical engineers of about  £53,000.

Learn Basic Spanish With These 15 Free Printables

Learn Basic Spanish With These 15 Free Printables These free Spanish printables will help you learn, review, and reinforce basic Spanish words and phrases. Included are printables to help you learn numbers, colors, and the alphabet. If its not already clear, printables here just means that the material can be printed off. In fact, theyre made specifically to be printed; you can save them for free and take them anywhere with you, or use them to teach others basic Spanish. For more Spanish language learning resources, consider these free Spanish worksheets that will help you reinforce your skills. If youd like to learn another language, there are also some free French worksheets to help you with that. Learn Spanish Numbers With These Free Printables These free printables will help you learn and review numbers in Spanish from 1 to 100. There are flashcards, number of the day activities, and triangle puzzles. Printable Spanish Flashcards (Numbers 1-12): Create your own flashcards to learn Spanish numbers 1 through 12.Spanish Numbers 1-20 Flash Cards: Print out these free Spanish flashcards so kids can learn their Spanish numbers.Spanish Number of the Day: A printable so students can focus on one Spanish number a day.Spanish Numbers 0-15 Triangle Puzzles: Solve the triangle puzzles by matching up the English number word with the Spanish number word. Free Spanish Alphabet Printables Learn the Spanish alphabet with these free printables withich include sheets with the complete alphabet and coloring pages. The Spanish Alphabet: Print this full Spanish alphabet to learn the ABCs.Complete Spanish Alphabet: A list of all the Spanish letters with pronunciation examples, the name of the letters, and a comparison to the pronunciation of English letters.Spanish ABC Coloring Pages: These free, printable coloring pages feature each letter of the Spanish alphabet along with an item that starts with that letter as well as the name of that item. Both uppercase and lowercase coloring pages are available.Spanish Alphabet Chart: A Spanish alphabet chart whether each letter has a picture along with the word. Learn Spanish Colors With Free Printables Review all the Spanish words for colors with these identification and crossword printables. Los Colores: Learn the colors in Spanish by playing a crossword that helps form the association between the word and the color.Spanish Colors: A simple lesson that teaches you Spanish colors. Just scroll down the page to see the English and Spanish words next to each other painted in the color theyre describing.Spanish Color Clouds: This is nearly identical to the previous document except that this one has each color on a separate page and no English translation. Instead, a colored cloud is shown to explain what the Spanish word means. More Free Spanish Printables Here are some more free Spanish printables to help you learn greetings, vocabulary, animals, opposites, items around the house, feelings, and parts of the body. Label Things Around Your House: This file contains lots of ordinary household items in both Spanish and English. You can print and cut out the Spanish terms and place them around your house for easy learning.Feelings In Spanish: Use this lesson to learn emotions in Spanish, both by looking at images and reading through the text.Opposites Cards: Print off this set of opposite cards to learn Spanish words that are opposites of each other. Be sure to fold the paper down the center to separate the two sets of words.Parts of the Head: This drawing labels each part of the head and face along with both the English and Spanish word.

Analysis of A and P by John Updike

Analysis of A and P by John Updike Originally published in The New Yorker in 1961, John Updikes short story A P has been widely anthologized and is generally considered to be a classic. The Plot of the Updikes AP Three barefoot girls in bathing suits walk into an A P grocery store, shocking the customers but drawing the admiration of the two young men working the cash registers. Eventually, the manager notices the girls and tells them that they should be decently dressed when they enter the store and that in the future, they will have to follow the stores policy and cover their shoulders. As the girls are leaving, one of the cashiers, Sammy, tells the manager he quits. He does this partly to impress the girls and partly because he feels the manager took things too far and didnt have to embarrass the young women. The story ends with Sammy standing alone in the parking lot, the girls are long gone. He says that his stomach kind of fell as I felt how hard the world was going to be to me hereafter. Narrative Technique The story is told from the first person point of view of Sammy. From the opening lineIn walks, these three girls in nothing but bathing suitsUpdike establishes Sammys distinctively colloquial voice. Most of the story is told in the present tense as if Sammy is talking. Sammys cynical observations about his customers, whom he often calls sheep, can be humorous. For example,  he comments that if one particular customer had been born at the right time they would have burned her over in Salem. And its an endearing detail when he describes folding his apron and dropping the bow tie on it, and then adds, The bow tie is theirs if youve ever wondered. Sexism in the Story Some readers will find Sammys sexist comments to be absolutely grating. The girls have entered the store, and the narrator assumes they are  seeking attention for their physical appearance.  Sammy comments on every detail. Its almost a caricature of objectification when he says, You never know for sure how girls minds work (do you really think its a mind in there or just a little buzz like a bee in a glass jar?)[...] Social Boundaries In the story, the tension arises not because the girls are in bathing suits, but because theyre in bathing suits in a place where people dont wear bathing suits. Theyve crossed a line about whats socially acceptable. Sammy says: You know, its one thing to have a girl in a bathing suit down on the beach, where what with the glare nobody can look at each other much anyway, and another thing in the cool of the A P, under the fluorescent lights, against all those stacked packages, with her feet paddling along naked over our checkerboard green-and-cream rubber-tile floor. Sammy obviously finds the girls physically alluring, but hes also attracted by their rebellion. He doesnt want to be like the sheep he makes such fun of, the customers who are befuddled when the girls enter the store. There are clues that the girls rebellion has its roots in economic privilege, a privilege not available to Sammy. The girls tell the manager that they entered the store only because one of their mothers asked them to pick up some herring snacks, an item that makes Sammy imagine a scene in which the men were standing around in ice-cream coats and bow ties and the women were in sandals picking up herring snacks on toothpicks off a big glass plate. In contrast, when Sammys parents have somebody over they get lemonade and if its a real racy affair Schlitz in tall glasses with Theyll Do It Every Time cartoons stenciled on. In the end, the class difference between Sammy and the girls means that his rebellion has far more serious ramifications than theirs does. By the end of the story, Sammy has lost his job and alienated his family. He feels how hard the world [is] going to be because not becoming a sheep wont be as easy as just walking away.  Ã‚  And it certainly wont be as easy for him as it will be for the girls, who inhabit a place from which the crowd that runs the A P must look pretty crummy.

Marketing management Essay Example | Topics and Well Written Essays - 2500 words

Marketing management - Essay Example This section of the pÐ °per discusses plÐ °nning process of the mÐ °rketing strÐ °tegy Ð °nd defines the fÐ °ctors thÐ °t influence its efficiency. PlÐ °nning process is Ð °n initiÐ °l stÐ °ge of mÐ °rketing strÐ °tegy for Ð °ny orgÐ °nizÐ °tion thÐ °t helps to shÐ °pe objectives Ð °nd goÐ °ls of Ð ° firm Ð °s well Ð °s to produce the principÐ °l policies Ð °nd plÐ °ns for Ð °chieving those goÐ °ls. During the plÐ °nning process it is normÐ °lly defined the nÐ °ture of the business the orgÐ °nizÐ °tion is to pursue which in turn hÐ °s Ð ° greÐ °t beÐ °ring on the kind of economic Ð °nd humÐ °n orgÐ °nizÐ °tion it needs to possess. GoÐ °ls Ð °nd objectives Ð °re usuÐ °lly set within Ð ° time frÐ °mework. StrÐ °tegy entÐ °ils mÐ °tching the compÐ °ny’s Ð °ctivities to its resource cÐ °pÐ °bility. There is little point in trying to tÐ °ke Ð °dvÐ °ntÐ °ge of some new opportunity if the resources needed Ð °re not Ð °vÐ °ilÐ °ble or cÐ °nnot be mÐ °de Ð °vÐ °ilÐ °ble. Ð n orgÐ °nizÐ °tion must formulÐ °te strÐ °tegy during the plÐ °nning process of mÐ °rketing strÐ °tegy within the boundÐ °ries of the resources thÐ °t Ð °re likely to be mÐ °de Ð °vÐ °ilÐ °ble. This is Ð ° fundÐ °mentÐ °l considerÐ °tion thÐ °t must be Ð °ddressed when formulÐ °ting the plÐ °n. StrÐ °tegy is Ð °lso to do with the mÐ °tching of the Ð °ctivities of Ð ° compÐ °ny to the environment in which it operÐ °tes. Since the environment is continuÐ °lly chÐ °nging, strÐ °tegic decisions necessÐ °rily involve coping with chÐ °nge. The extent Ð °nd speed of environmentÐ °l chÐ °nge will vÐ °ry Ð °nd the pÐ °ce Ð °t which strÐ °tegy must chÐ °nge will necessÐ °rily vÐ °ry too. Ð s it wÐ °s Ð °lreÐ °dy mentioned, there Ð °re Ð ° lot of fÐ °ctors thÐ °t need to be considered in the plÐ °nning process of Ð °n orgÐ °nizÐ °tion thÐ °t Ð °ffect mÐ °rketing strÐ °tegy of the compÐ °ny. These fÐ °ctors Ð °re described in bellow Ð °nd Ð °re the reflection of stÐ °ges of the plÐ °nning process of Ð °n orgÐ °nizÐ °tion. This step is to Ð °ssure thÐ °t the key stÐ °keholders understÐ °nd the plÐ °nning process Ð °nd Ð °re committed to it. ImportÐ °nt

RESPONSE ESSAY SUMMARY SHEET Example | Topics and Well Written Essays - 250 words - 1

RESPONSE SUMMARY SHEET - Essay Example paper analyzes some common negative externalities, as well as possible ways through which government intervention may control and regulate these externalities. The study conducted in this paper is based upon a case study of the wastewater management system in Australia. The analysis of negative externalities in this case study is better approached by tackling the following three questions: 1. Explain what negative externalities are, and why there may be the case for government intervention to address them. Describe some of the ways to correct the negative externalities and the pros and cons of each method. Provide real life examples. An externality occurs when some activities by consumers or producers result in unintended direct or indirect effects over other unintended players in the market. Externalities may be negative or positive (Laffont 2008). In this case, negative externalities arise when the action of a party results in damage to other people without any form of compensation being awarded for that damage. Within the context of a business environment, a negative externality refers to a spill-over of an economic transaction that result in negative effects on a party that has no any direct involvement in the activity that causes the externality. Thus, the first party does not incur any costs for the repercussions on society while the second party gets no benefits from the effects inflicted upon them. Externalities constitute one of the many reasons that lead to government intervention within the economic sphere. Thus, it is because the production, consumption, as well as investment decisions made by households, individuals, and organizations or firms usually affect people who are not directly involved in the transactionsMost externalities fall into the technical externalities category. In this context, the indirect effects impact on the production and consumption opportunities of other people, though the cost of the product or service does not consider

Apple and Amazon Companies Essay Example | Topics and Well Written Essays - 250 words - 15

Apple and Amazon Companies - Essay Example The present research has identified that Amazon.com, Inc. is an American-based company that dominates the United States retail markets. The company deals with electronic commerce and it has strived to become the best online-based retailer in the region. It originally started as an online bookstore but in the recent times, it has greatly diversified into the sale of compact disks, furniture, software, toys, video games, food, electronics, and jewelry. Just like Apple, Amazon produces consumer electronics such as the Fire TV sets, Fire mobile phones, Fire tablets, and the Amazon Kindle e-book. The company has separate websites for its different market regions. Some of its market regions include; the United States, Canada, France, Germany, United Kingdom, Italy, Netherlands, China, and Japan. The graph in the paper is essential in determining the various strategies different companies use in their marketing programs. Apple and Amazon are no exceptions in this situation. The graph compar es the different marketing strategies used in a period of two years against their popularity among companies. An analysis of these strategies would act as a good way to compare and contrast the two companies. According to Moorman, Apple has managed to emerge as the best overall winner of marketing excellence surveys, and the latest being the 2012 award. Scrutinizing the company’s marketing policies would be a good starting point for this analysis. Just as Moorman continues to explain, Apple has been successful in the electronics market primarily because of its marketing strategies. Apple’s marketing approach constitutes the following three strong pillars: empathy, focus and impute. Empathy implies that the company should be in a better position to understand the needs of their customers than their competitors do. In a move to maintain focus, the company puts its attention to important opportunities that will enable them to be in apposition to do a perfect job.

Proposal and contract Assignment Example | Topics and Well Written Essays - 250 words

Proposal and contract - Assignment Example The company adopts a diverse multi-channel market strategy that aims to offer to clients a unique shopping experience with ideal pricing and a vast selection of goods and services (systemax.com). The company provides industrial equipment and computer supplies to other companies and businesses in North America through its company website, corporate sales teams and vividly detailed catalogues. The company’s technology product department focuses on Information and Communications Technology as well as Consumer electronics such as tablets, laptops, desktop machines, related accessories and software. Its consumer electronics products range from surveillance equipment, cell phones, toys, video games as well as other electronic accessories. Its industrial products are categorized under maintenance, repair and operations equipment and includes an array of both goods and services such as electrical and bulbs; plumbing supplies, fans, safety and medical items, storage, shelving, packaging and supplies among others. However, technology products account for the bulk of the company’s revenue. The company markets its products to both individual and business clients. Business clients consist of educational institutions, government agencies and corporate businesses mostly within the North American region

Approaches to the Management of Diversity Research Paper - 1

Approaches to the Management of Diversity - Research Paper Example Many authors agree with this definition saying that diversity should be seen to apply to everyone in the organization in order to produce its intended effect. As long as there are distinctions within a group, diversity will always exist (Li, Cho and Curry 17). Another definition considered inclusive and constitutive defines diversity as â€Å"the collective amount of differences among members of a social unit.† (Harrison and sin 196) From all these definitions it is evident that diversity goes beyond the issues of race and gender to address other issues such as differences in talents and abilities, age, social status, economic status etc. of people at the workplace or in any functional group (Harrison and sin 196). There are four dimensions to understanding diversity. Some researchers from the CAN Corporation studied the impact of diversity on Air Force mission performance. they looked at four dimensions to diversity: (1) Demographic diversity: these include personal characteristics such as age, race/ethnicity, religion, and gender; (2) Cognitive diversity: these will include personality types, such as extrovert/introvert and Type A/Type B, thinking styles, such as quick, decisive thinking versus slow, methodical thinking etc.; (3) structural diversity: organizational background characteristics including service, work function and component; and (4) Global diversity: and this include national affiliations (Riche and Amanda Kraus 5-10). Diversity management has been defined as â€Å"the as the craft or process of making quality decisions in the midst of differences, similarities, tensions, complexities, etc. the distinction between diversity and diversity management is important. If you do not properly manage diversity, you can lose representation.† (Lim, Cho and Curry 20) Another author considers diversity as a â€Å"liability† until and unless processes are put in place to manage the negative dynamic and to release diversities

Haitian Culture Assignment Example | Topics and Well Written Essays - 1250 words

Haitian Culture - Assignment Example Additionally, another small portion include the Hindus as well as Muslims who commonly presently inhabit Port-au-Prince (Largey, 2012, p.14-15). Generally, most Haitians exhibit a significant link to the event of the 1804 expulsion of the French, an occurrence that led to Haiti being the first sovereign Black state as well as being second in the Western Hemisphere to attain self-rule from imperial Europe. Haitian’s culture depicts the meaning of touch in various forms. This is quite evident among the male gender whereby they exhibit a tendency of holding hands in public. For outsiders, this action may be a depiction of homosexuality. For Haitians, however, holding hands in pubic portrays friendship but it is extremely rare for them to show affection publicly towards their females for this to them ought to be in privacy. Affection towards, family members may be shown overtly and holding hands of family members may not be regarded inappropriate (Migraine-George, & Jackson, 2014, p.7-8). Further, in the case of professionals, for instance, health-care providers, physical contact only comes as a result of shaking hands whereby actions like kissing regard them as inappropriate. However, touch by health-care providers during service provision normally receives appreciation. With regards to personal spatial and distancing strategies, most Haitians do not mind so much about personal space. Therefore, in most instances, interaction tends to be close, be it with a friend or a family member. Generally, compared to Americans require less personal spatial thus in most cases they position themselves closer to one another when communicating. Further, during a conversation, for most Haitians, direct eye contact is considered appropriate especially when used with friends or persons of same age group as well as family members.

Approaches to the Management of Diversity Research Paper - 1

Approaches to the Management of Diversity - Research Paper Example Many authors agree with this definition saying that diversity should be seen to apply to everyone in the organization in order to produce its intended effect. As long as there are distinctions within a group, diversity will always exist (Li, Cho and Curry 17). Another definition considered inclusive and constitutive defines diversity as â€Å"the collective amount of differences among members of a social unit.† (Harrison and sin 196) From all these definitions it is evident that diversity goes beyond the issues of race and gender to address other issues such as differences in talents and abilities, age, social status, economic status etc. of people at the workplace or in any functional group (Harrison and sin 196). There are four dimensions to understanding diversity. Some researchers from the CAN Corporation studied the impact of diversity on Air Force mission performance. they looked at four dimensions to diversity: (1) Demographic diversity: these include personal characteristics such as age, race/ethnicity, religion, and gender; (2) Cognitive diversity: these will include personality types, such as extrovert/introvert and Type A/Type B, thinking styles, such as quick, decisive thinking versus slow, methodical thinking etc.; (3) structural diversity: organizational background characteristics including service, work function and component; and (4) Global diversity: and this include national affiliations (Riche and Amanda Kraus 5-10). Diversity management has been defined as â€Å"the as the craft or process of making quality decisions in the midst of differences, similarities, tensions, complexities, etc. the distinction between diversity and diversity management is important. If you do not properly manage diversity, you can lose representation.† (Lim, Cho and Curry 20) Another author considers diversity as a â€Å"liability† until and unless processes are put in place to manage the negative dynamic and to release diversities

Personal Ethics Essay Example | Topics and Well Written Essays - 1750 words

Personal Ethics - Essay Example In addition, she worked to assure that patients under her care were healthy. Her critical thinking of Environmental Theory dramatically revolutionized the nursing methodology in which sanitary conditions for patience became a focal point for all nurses. As a nurse, it is imperative to provide the utmost care to patients especially in the realm of elderly. As a nurse, one must understand that not nurturing elders can be against the moral standards of a nurse. Elderly neglect is one of the most prominent issues that needs to be addressed in modern society. It is clear that every year, an estimated 4 million older Americans are victims of neglect. Elderly neglect has been an issue not only in nursing houses but also in other aspects. Conducive research indicates that for every case of elder abuse and neglect reported to authorities, experts estimate as many as 23 cases go undetected. The quality of life of older individuals who experience abuse is a critical element because elderly often feel neglected which may cause physiological trauma that is definitely not healthy. This physical trauma can be a huge element as much research also suggests that older people who have been abused tend to die earlier, which is a huge concern. For the elderly, it highly imperative that they don’t experience this short of emotional trauma in their later years. From my personal perspective, nursing are majority in charge of handling patient’s nutritional status. Most patients that are sick tend to lose weight and must be supplemented with proper amount of food and nutrients. Conducive research indicates that as many as 65% of elderly patients are malnourished when they enter the hospital while in the hospital. Without having the proper nutritional assessment, it is highly illogical and difficult to monitor their status. Morally, they must have the right to

National Concern †North Korea Essay Example for Free

National Concern – North Korea Essay ‘What do you think is the most important international concern right now? ’ Out of curiosity, I conducted a small survey and asked that very question to people on the streets. As I expected, most of them revealed it was the conflicts in North Korea. There are many ways to describe North Korea. It is a country under a dictator leadership, a country with a very serious poverty problem, and a country that recently became notorious with its defense for nuclear weapons. However, I would like to describe the country as a child – a poor, desolate, and lonely child. It is true that many people are scared of North Korea and the activities it is involved with, such as nuclear testing. However, I am more worried than afraid about the country. As I mentioned above, I think North Korea is like a child a child that needs a guardian to lead it back onto the right path. And because such child was left alone since the Korean War and was forced to grow up by itself, it now wants attention from other countries. Many politicians are offering solutions for North Korea and for its actions. Many are suggesting for war since North Korea is disrespectful and very egoistic. Others want peace, without any bloodshed. I personally agree with the peaceful method because I know we can solve this problem by conversation. And I do not want to fight against the land my family came from. I think the unification of North and South Korea would help the country to develop and mature itself. I know it will take time to equalize the country both, politically and economically. I also do not expect another miracle to happen like Germany. But if such unification is possible, then the world would have succeeded in achieving more world peace. Another solution is to have a world conference to understand each other better, rather than to just tell each other what they want and what they do not. I know how sensitive all countries are these days, with conflicts happening daily and with the world getting increasingly complicated and crowded. However, if the countries could step back from their own problems and look into the heart of the mater of global issues for a minute, they would be able to understand each other better and help solve the North Korea’s problem with a willingness to see world peace. If both methods do not happen in the next 5 years which is highly possible I am ready to join the United Nations to help struggle the peace for Korea. I am a person who thinks that life is too short and that I want to try and experience as much as I can to reach my goals. Thus, if politicians do not make any actions, I will step in to achieve my ultimate life’s goal: Korean Peace. I will join the United Nations, the organization that has helped to bring in peace for many countries. I am a firm believer that endless endeavor can bring in success. Many people will probably find my solutions childish and idealistic. After all, the world is a far more complex place than a teenager may think. However, one thing I know for sure: my passion for world peace is stronger than most people. And if the passion remains as I mature mentally and intellectually over the next few years, I am certain that I will make a difference for both, North Korea and the world. And for that embodied child of Korea, it will some day grow up a unified, matured and peaceful person like how I always dream it would be. Nothing is impossible without hope, faith and determination.

Recruitment And Selection At Tesco

Recruitment And Selection At Tesco As a member of the HR department I need to research and make a report in order to check the quality of new staff being hired. The aim of this report is to explore what are the best means of testing and hiring new employees. It will also look into some benefits and drawbacks of recruitment process in two successful companies which are Tesco and McDonalds. Consequently, I will outline some suggestion which I think is the best for our company. 2.0 Procedures The information is collected from internet and using secondary research to gather data for my report. 3.0 Findings 3.1 Recruitment and selection at Tesco Tesco is the largest private sector employer and operating over 13 countries outside the UK. There is increasing all the time in the number of both store-based and non-store. In addition, in order to achieve business objectives, Tesco needs to make sure that they have the right number of workers in the right jobs at the right time. In order to do this, Tesco has a step by step process of recruitment and selection to appeal applicants for both operational and managerial roles. As the company is growing, it is important for Tesco to have workforce planning which is future needs for people in term of locations, numbers and skills. As regards of recruitment, it can be defined as the process of identifying which the organisation needs for a new employee. Tesco advertises vacancies in different methods. The process of recruiting depends on the job available. Firstly, Tesco looks at internal Talent Plan to fill posts. The lists of current employees who looking for a move or on promotion will be consider. If nobody is suitable in this talent plan, Tesco use internal advertising to post in intranet. However, external recruitment, the vacancies are posted in the Tesco websites or external vacancies board. When making applicant online for managerial position, the chosen applicants must have an interview. Consequently, people who are selected will attendance at an assessment centre for selecting process. Having the CV or register at Jobcentre Plus, candidates who interested in stored based jobs can apply stores in Tesco. The store prepares a waiting list of application which is not selected and calls them if vacancies become available. Furthermore, for the jobs with more specialists such as pharmacist, baker the external recruitment method will be used for example radio, magazine, television. As far as the selection are concerned, it involve in selecting a suitable candidates from applicants by using the job specification and job description. The important part of the selection process is screening candidates. This is ensure that people are selected have matched with the job requirements. Initially, each applicants CV which summarises the candidates education and job experience will be looked cautiously by the Human Resources in Tesco. The firm also provides a job type match on careers web page. Hence they can see where they fit or not. A person who passes screening attend assessment centre will be invited to second interview. If they are successful, they will receive an offer letter and contract. The assessment centre is take place in store and is run by managers. It will give to candidate several tasks which include problem solving, team working. These exercises can help candidate to deal with real problems at work. 3.2 Advantage of recruitment and selection method in Tesco With respect to recruitment process, Tesco will try to find the most cost-effective way of attracting people. Although it is not cheap to advertise on television and magazines, this is essential to get the right type of people for the vacancies. It is easy for applicants to seek about available jobs and also has a simple application process throughout the Tesco website. First of all, by using internal recruitment in Tesco lead to cut the cost of recruiting workers from outside. This is due to less training and orientation required In addition, the HR department know more about the candidates ability. This will increase productivity of current employee and stronger commitment to the company. There are a number of benefits by using external recruitment method. Because of new people, they will bring in Tesco new perspectives and ideas. Furthermore, Tesco have more choice to choose candidates; they have a wider range of experience. 3.3 Disadvantage of recruitment and selection method in Tesco As regards to internal recruitment, the number of applicants can be limited. Owing to already known about strength and weakness of candidate, Tesco could not have new ideas from outside. In addition, another vacancy will be creating which need to be filled. On the other hand, in external recruitment, it has more expensive because of advertising and longer process. The selection process might not be effective enough to find the best applicant. 3.4 Introduction to recruitment and selection methods in McDonalds McDonalds is a one of the largest scale employer. Most workers are paid by the hour and those people called as crew members. Their jobs are to prepare the food and serve customers in order to make the restaurants run more efficiency. With respect to recruiting hourly-paid workers McDonalds have created a two-step application process for potential crew members. Firstly, all candidates must do the psychometric test and then they need to go online and fill the application. Once successful, the candidate will be invited to a restaurant for an on job experience (oje) and interview. The purposes of OJE give a good opportunity to evaluate the candidates customer service skills, how they get on with other member in McDonald and allows candidate to see whether or not suits with working environment. After that, the candidate will work in customer facing areas about 2 day assessment and will be given full instruction on what to do. Consequently, they have a final interview with manager who will give the decision about the applicant. When crew member have been hired, they have to attend a welcome meeting to demonstrate their skills and behaviours. This meeting will show an overview of the company and then candidate must do h ealth safety and food safety test online. 3.5 Advantage and disadvantage of recruitment and selection methods As we can see, the way McDonalds recruitment people it appeal more people to apply because they offer employee with many rewards and bonus. This also increases competition between employees to get prizes. They also provide good working condition which help workers more flexible at work. The other thing here is that people are easily to find out and apply quickly which save a lot of time. On the other hand, there are some drawbacks of these methods. Firstly, owing to more reward, this lead to increasing cost for company. 4.0 Conclusion From my point of view, both companies have good recruitment and selection policy depends on what they are doing. McDonald believes that employees are a vital role in the company to achieve the success of the restaurants. Their aim is to recruit the best people and keep them by offering on-going training related to their position, therefore promoting them when they are ready. The recruitment policies to fulfil its aim. However, Tesco believes that workforce planning is vital for business. They got strong organisational structures. It provides user-friendly ways of applying for jobs and a consistent approach to recruitment and selection. 5.0 Recommendation Having finished research and analyses the recruitment process in both company, I would like to recommend some suggestion for our company which are application online, advertise on TV, using job specification and job description. First of all, application online help people easily to apply and attracting more people is due to developing of technology nowadays. Secondly, advertising is good way to grab attention of people. The reason is that most people like watching TV in leisure times. Although advertising is expensive in the short run, we will have more result in the long run. This is because we have right employee who will contribute to our company for a long time. Finally, when we have many applicants, using job specification and description are the good ways to choose the right person. These documents help us get the overview of candidates; what the qualification they have and their experience.

Minimizing Effects of Foreclosure Crisis Essay examples -- Economics E

Even though I believe that education can help solve this problem, I do not believe that it alone can prevent our current foreclosure crisis. Other factors, along with education, need to be considered. Our financial mess is not only due to our own ignorance regarding financial matters and personal responsibility, but it has also been elevated by our government’s failed policies that have exacerbated an already fragile market. Politics have played a major role in our failures for a majority of Americans. When government policies are created to elevate a particular sect of the American population, for example, home ownership, those who were on the bubble for loan approval are susceptible. These individuals who were eventually approved, but then cannot sustain monthly payments, are doomed for at least a fall if not a total failure. To address the issue of education, I will point to a 2004 survey conducted by The National Council on Economic Education. The survey points out that since 2004 there are only seven states that mandate their students take a course on basic finances as a requirement for their high school graduation. Comparing the results of the survey to the individual states ranking in the category of home foreclosures, we see that this type of education has a dismal effect. According to the NCEE’s survey, thirty-eight states set school standards that indicate they want money issues and financial themes to be taught; however, many states do not enforce the standards and have not made them a part of their curriculum. By looking at the survey, we see that the following states have implemented a basic finance class as part of their required curriculum since 2004: Alabama, Georgia, Idaho, Illinois, Kentucky, New Y... ...ollment surpassing that of our higher education system. A Responsible Citizenship curriculum will do no good unless the principles of that education are embraced and applied to our daily lives. If applied, people may be able to avoid or minimize a future foreclosure crisis and the resulting economic fallout. Works Cited Fulmer, Melinda. "States Ranked by Foreclosure Rates." MSN Real Estate. Web. 21 Oct. 2010. . "Public School Spending." Epodunk: The Power of Place. June 2004. Web. 24 Oct. 2010. . "Survey of the United States: Economic and Personal Finance Education in Our Nation's Schools in 2004." National Council on Economic Education, 2004. Web. 30 Nov. 2010. .

A Happy Campus Essay

General Statement: A happy campus is an interesting place for studying Features: + Good facilities + People + Recreation Body Paragraph 1 Topic sentence:There are a lot of good facilities in a happy campus + Excellent library with many kinds of books and modern technology + ATM machine is on every corner of a happy campus + Public transportation is convenient Body Paragraph 2 Topic sentence:The students in a happy campus study together friendly and studiously + Share ideas and help each others + Play sports and take part in activities together after class + Practising more than studying in theory Body paragraph 3 Topic sentence:A happy campus also has many places for recreation + Green park, large stadium, fitness center + Many clubs opened on weekend such as: English club, cooking club, etc. + Many places to visit: galleries, museum, cultural activities A HAPPY CAMPUS A happy campus is an interesting place for study. Students can both study and practice. A happy campus has a lot of good facilities and people. There are also many places for recreation. There are a lot of good facilities in a happy campus. It has an excellent library with many kinds of books and modern technology. ATM machines are on every corner of a happy campus. In addition, ublic transportation is convenient and cheap. Students in a happy campus study together friendly and studiously. Although they may come from different places, they help each other in studying as well as in their life, and share ideas. They can play sports and take part in activities together after class. They practice much more than studying in theory. A happy city also has many places for recreation. There are green park, large stadium,  and fitness center for studying and relaxing. Many clubs are opened on weekend, such as English club, cooking club, dancing club etc. Moreover, there are many places for s tudents to visit, such as galleries, museum, cultural activities.

Literature Review Essay

They warned the investors not to buy unlisted shares, as Stock Exchanges do not permit trading in unlisted shares. Another rule that they specify is not to buy inactive shares, ie, shares in which transactions take place rarely. Themain reason why shares are inactive is because there are no buyers forthem. They are mostly shares of companies, which are not doing well. A third rule according to them is not to buy shares in closely-held companies because these shares tend to be less active than those of widely held ones since they have a fewer number of shareholders. They caution not to hold the shares for a long period, expecting a high price, but to sell whenever one earns a reasonable reward. Jack Clark Francis (1986) revealed the importance of the rate of return in investments and reviewed the possibility of default and bankruptcy risk. He opined that in an uncertain world, investors cannot predict exactly what rate of return an investment will yield. However he suggested that the investors can formulate a probability distribution of the possible rates of return. He also opined that an investor who purchases corporate securities must face the possibility of default and bankruptcy by the issuer. Financial analysts can foresee bankruptcy. He disclosed some easily observable warnings of a firm’s failure, which could be noticed by the investors to avoid such a risk. Preethi Singh3(1986) disclosed the basic rules for selecting the company to invest in. She opined that understanding and measuring return m d risk is fundamental to the investment process. According to her, most investors are ‘risk averse’. To have a higher return theinvestor has to face greater risks. She concludes that risk is fundamental to the process of investment. Every investor should have an understanding of the various pitfalls of investments. The investor should carefully analyse the financial statements with special reference to solvency, profitability, EPS, and efficiency of the company. David. L. Scott and William Edward4 (1990) reviewed the important risks of owning common stocks and the ways to minimise these risks. They commented that the severity of financial risk depends on how heavily a business relies on debt. Financial risk is relatively easy to minimise if an investor sticks to the common stocks of companies that employ small amounts of debt. They suggested that a relatively easy way to ensure some degree of liquidity is to restrict investment in stocks having a history of adequate trading volume. Investors concerned about business risk can reduce it by selecting common stocks of firms that are diversified in several unrelated industries. Lewis Mandells (1992) reviewed the nature of market risk, which according to him is very much ‘global’. He revealed that certain risks that are so global that they affect the entire investment market. Even the stocks and bonds of the well-managed companies face market risk. He concluded that market risk is influenced by factors that cannot be predicted accurately like economic conditions, political events, mass psychological factors, etc. Market risk is the systemic risk that affects all securities simultaneously and it cannot be reduced through diversification Nabhi Kumar Jain (1992) specified certain tips for buyingshares for holding and also for selling shares. He advised the investors to buy shares of a growing company of a growing industry. Buy shares by diversifying in a number of growth companies operating in a different but equally fast growing sector of the economy. He suggested selling the shares the moment company has or almost reached the peak of its growth. Also, sell the shares the moment you realise you have made a mistake in the initial selection of the shares. The only option to decide when to buy and sell high priced shares is to identify the individual merit or demerit of each of the shares in the portfolio and arrive at a decision. Carter Randal (1992) offered to investors the underlying principles of winning on the stock market. He emphasised on long-term vision and a plan to reach the goals. He advised the investors that to be successful, they should never be pessimists. He revealed thatthough there has been a major economic crisis almost every year, it remains true that patient investors have consistently made money in the equities market. He concluded that investing in the stock market should be an un-emotional endeavour and suggested that investors should own a stock if they believe it would perform well. S. Rajagopal. (1996) commented on risk management in relation to banks. He opined that good risk management is good banking. A professional approach to Risk Management will safeguard the interests of the banking institution in the long run. He described risk identification as an art of combining intuition with formal information. And risk measurement is the estimation of the size, probability and timing of a potential loss under various scenarios. Charles. P. Jonesl8 (1996) reviewed how to estimate security return and risk. To estimate returns, the investors must estimate cash flows the securities are likely to provide. Also, investors must be able to quantify and measure risk using variance or standard deviation. Variance or standard deviation is the accepted measure of variability for both realised returns and expected returns. He suggested that the investors should use it as the situation dictates. He revealed that over the past 12 years, returns in stocks,bonds, etc. have been normal. Blue chip stocks have returned an average of more than 16% per year. He warned that the investors who believe that these rates will continue in the future also, will be in trouble. He also warned the investors not to allow themselves to become victimised by â€Å"investment gurus†. Rukmani Viswanath (2001) reported that the Primary Dealers in Govt. securities are working on a new internal risk management model suited for the Indian market conditions. Theattempt is to lay down general parameters for risk perception. The Primary Dealers Association of India (PDAI) is formulating a set of prudential norms for ‘risk management practices’. While internationally the principles of risk management may be the same everywhere, the Association is of the view that they have to identify the relevant issues and apply those principles in the Indian context. It strongly argues that it must work on a model that can help to manage liquidity and interest rate risk. While the existing RBI guidelines on risk management cover mainly statutory risk, the PDAI hopes that its new risk management model will be able to perceive ‘real risk’. These new norms are expected to help gauge several issues like, whether a fall in the prices of securities or yields is a temporary or permanent situation etc. The areas the new norms are likely to address are the assessment of the liquidity situation and envisaging investor appetite for a specific instrument and their appetite for risk. According to thegovt. securities dealers, these norms are expected to help them hedge. FOOTNOTES 1. Grewal and Navjot Grewal, Profitable lnvestment in shares, Vision Books Pvt. Ltd. 36 Connaught Place, New Delhi 1984. 2. Jack Clark Francis, Investment – Analysis and Management, MC Graw Hill, International Editions, 1986. 3. Preethi Singh, Investment management, Himalaya PublishingHouse, Bombay Nagpur and Delhi,1986. . Lewis Mandell, Investments, Macmillan Publishing Company, New York, 1992. 5. Nabhi Kumar Jain, How to earn more from shares, Nabhi Publications, Delhi, 1992. 6. Carter Randall Non-stop ~winning from the stock market Vision Books, New Delhi, Bombay (1992). . 7. S. Rajagopal,. â€Å"Bank Risk Management – A risk pricing model†, State Bank of india, Monthly Review, VoI. XXXV, No. 11, November 1996, p. 555. 8. Rukmani Viswanth, â€Å"PDs working on Risk Management Model†, TIE Hindu, Business Lime, Daily, Voi. 8, No. 17, January 18,2001, p. 11

Ducati & Texas Pacific Group †a ”Wild Ride” Leveraged Buyout

Ducati & Texas Pacific Group – A †Wild Ride† Leveraged Buyout 1. What is the nature of the opportunity? Could the Ducati brand be expanded beyond motorcycles? Why or why not? TPG strategy is to invest in undervalued firms’ that usually have been poorly managed. The investments are made in privately hold firms that are either unlisted from the beginning or that is being delisted from the stock exchange under the LBO process. TPG wants to invest in firms with a â€Å"healthy† basis but that are experience some problems that TPG believes’ that they can fix. Does Ducati live up to this? TGP has the opportunity, if the deal goes through, to purchase a controlling stake in Ducati Meccanico, producer of the best motorcycles in the world. The article describes that Ducati was in a great position of becoming for street bikes as what Harley-Davidson was for cruisers. They have a recognized brand, in spite of limited marketing, associated with high performance, i. e. high quality and high technology. Their bikes crushed the competition and won the World Superbike championships for several years in a row; 1990, 1991, 1992, 1994 and 1995. Their racing performance indicated on technical brilliance which is just what street bike customers’ prefer and therefore they had customers on the wait lists to buy their bikes. The core business possible growth was considered as high when comparing their number of sales to Harley-Davidson sales. In addition, to this the market didn’t foresee any new entrants of street bikes which also work in their favor. The manufacturing fundamentals were strong with low fixed costs due to high levels of outsourcing, 85 %. They offered the customers 15 models of bikes in four families founded on seven various engines. Furthermore, the most expensive part of an engine is the crank cases and cylinders but Ducati can keep these costs low since they have high levels of standardization of their engines and therefore only need two crank cases and three cylinders because. All these factors’ make Ducati look like an attractive brand that should have a prosperous economy. But they were under great financial pressure and faced severe problems in both manufacturing and financing. They had no money and weren’t allowed to borrow any either which caused extreme delays on payments to key suppliers. Therefore their factor was full of unfinished/almost-finished bikes. This affected their sales and extended their customer wait lists but it also affected suppliers and some of them went bankrupt. Ducati were short on working capital and the business was so entangled with Cagiva Group, which Ducati was a part of, that the detail’s on Ducati’s performance was not transparent at all. In the time span from 1993 to 1995 there was only a reliable balance sheet from 1995. TPG managed to assemble the profit and losses for the other years. All this together indicates a really poorly handled management. The forecasted EBIT for 1996 was negative and there was an imminent chance that Ducati went bankrupt since they couldn’t meet there payments. This lack of transparency has made it hard to find financing. TPG can succeed if they manage to build a model that captures their payback goal times three in three to five years. They need to find out what the Ducati should be earning and around these assets construct an international company. TPG can expect to take over a mismanaged company under financial pressure/distress but that have great potential in their strong brand and manufacturing fundamentals. To make this work they need to use a capable management team that can build up both the brand and the company. They need arrange the financing to be able to recover from the distress and to start making some money. But as they state in the article they will have to write at least a thousands of checks on their first day. Ducati brand could and should probably be extended beyond motorcycles even though a first step is to close the deal, take control over and built up the company. There for it might not be a good idea, at least not the first thing to start with. As I already pointed out Ducati is in a great position to imitate, for street bikes, what cruisers are for Harley-Davidson. Harley-Davidson has succeeded in creating a life-style brand with as much as 15% of its sales, with a growth potential, coming from just clothing and mechanical accessories. Ducati could look at the products Harley-Davidson is selling and how their selling them. They could also compare with a car company, like Ferrari, that has a lot of clothing and accessories that they sell. Ducati has a great potential to extend beyond motorcycles with motorcycle clothing and accessories and mechanical accessories. There are probably a lot of motorcycle stores that would want to sell their products and they could also sell them through their own shops and from online shops. It is just the imagination, costs and the combination of a balanced brand expansion that sets the limits. 2. How does this deal differ from a typical deal in the US? In terms of deal flow generation, due diligence process, negotiations and context? Deal flow generation The deal flow is the ability used by equity firms to identify attractive potential investment candidates, i. e. the ability to generate deal flow. This flow is generated from a wide range sources’, from for instance the experience and network built up by working in specific businesses to the network of senior corporate executives and it is this flow that discover opportunities that otherwise would have gone by unnoticed. Now days’ investment banks generally works as agents that sells the opportunity to invest for a fee paid by the seller in a sale process akin to an auction. To help Cagiva through its financial distress the Castiglioni brothers wanted to get a bridge loan from DMG so they contacted Razzano but he wasn’t interested in signing them a loan agreement. Instead he saw the potential of an investment and contacted Halpern since they were looking for a joint investment. Due diligence Due diligence is the valuation process undertaken before the parties sign the deal to identify the future of the potential investment but also to estimate the proper price for the investment. Equity firms’ usually creates a model on several hypotheses that captures the payback of the investment. Due diligence is a vital process in investigating the financial health, technology, the market, and the current management. A lot of different sources are used and in connection to this the investing firm usually signs a confidential agreement. The due diligence process generally starts after the parties have signed a Letter of Intent and paves the path to further negotiations between them. TPG have signed a Letter of Intent with the Castiglioni brothers and are trying to build a model that captures their payback. The problem for them is to separate the intertwined Ducati from Cagiva to find out what the Ducati should be earning to be able construct an international company around these assets. Negotiation If the sale is conducted through an auction by an investment bank intermediate the due diligence process often leads to a final proposal by the bidders’ and this is where the negotiation phase starts with chosen bidders. The negotiations then lead to an agreement between the parties. According to the article the negotiations in the US are done more in a linear path but the negotiations with Cagiva can best be described as a circular path. TPG has been negotiated with Ducati for almost a year. This is probably were the cultural difference is most prominent. Americans chose to discuss every issue separately step by step and after every discussion they want to include this in the contract between the parties. Italians see the whole picture in every discussion so when the Americans have decided something new in the next step of the precoess the Italians want to go back to the previous steps and re discuss them. Furthermore, Italians don’t like do business if they can’t trust the other part in America you don’t have to feel the trust since you include every little detail in the arrangement otherwise you can get sued. Maybe that is why the Castiglioni brothers might not trust TPG if they are not willing to re discuss everything again. Maybe that is why they are trying to shop the deal to others even though they have signed a Letter of Intent with TPG. This would never happen in America. But they have not participated in any meetings and in America it would probably not be hard to sign a contract under an LBO situation. TPG believed that their behavior replicated an act of trying to back out of the deal. Context LBO’s in U. S. eems much more organized than in Italy but at the same time this might make it harder to find interesting targets that have the same growth potential or at least the competition of acquire them might be harder. The development of the high-yield markets in Europe compared to US differ since the markets in Europe was not as developed as the US market. This made it harder for TPG to accomplish the same level of leverage as in the US. Halpern compare the debt-to-equity rat io as 2:1 in Italy compared to 3:1 in the U. S. On the other hand TGP were looking for companies that had grown hastily but still was arranged as small company and in Italy companies aspired to be small because of the fact that they then paid less tax. In order to pay even less tax it wasn’t uncommon, according to Halpern, to find relatively small companies with as much as 50 subsidiaries. This is usually not the case in the U. S. To overcome the aim to stay small and to not go public â€Å"Tremonti Law† allowed companies that went public in 1996 a two years tax relief. 3. What is the value of Ducati at the time of the deal? How much should TPG be willing to pay for 51 percent of the equity? Please assume that the target return is 35 percent (annualized). Observe that you are required to value the firm. For the valuation of Ducati, observe that since this is a leveraged buyout, the debt-to-equity ratio will change drastically, and you need to handle this in the appraisal model you use. Furthermore, you need to think about the inputs you shall use in the valuation. How do you determine return on assets? Which risk free rate of interest should be used? Which risk premium should be used? Etc. To value Ducati we can use the APV-model. APV treats the firm as it is all equity financed. A suitable unleveraged beta for the estimation is a beta in the same industry that is all equity financed and the article states that Harley-Davidson don’t have any long-term debt which means that their beta is unleveraged. I will therefore use their beta of 1. 09. We will use CAPM to discount the cash flows and a rule of thumb to know which rate to use is to match the risk free rate with the country that we are going to invest in. The 10-year government bond is 6. 4% in both the US and Italy so this wouldn’t have caused any trouble here. Since the 10-year bond is 6. 74% in both countries we will not add any extra country risk for the investment. The risk premium that we are going to use is 7. 5%. TABEL 119961997199819992000200120022003 EBIT-5. 4+58. 2+79. 4+96. 3+111+123. 3+146 -Taxes(53. 5%)0-31. 1-42. 5-51. 5-59. 4-6. 6-72. 3-78. 1 +Depreciation+6+7. 3+9. 1+11. 1+13. 5+15 . 7+18. 1+20. 7 +Amortization+24. 7+24. 7+24. 7+28. 5+28. 5+28. 5+28. 5+28. 5 -Capex-12. 9-15. 5-20-24-22-24-24-25 Change in Working Capital (see TABEL 2)-0. 9-1. -32. 9-17. 3-2. 9-11. 2-10. 5-10. 3 Total cash flow 13. 342. 317. 843. 168. 766. 37580. 8 +1229. 8 TABEL â€Å"199519961997199819992000200120022003 Cash9. 411. 322. 689. 837. 279. 987. 2132. 2 6%6%6%6%6%6%6% Transaction cash required 9. 411. 322. 628. 532. 636. 2138. 841. 344 Accounting receivables 8084. 583. 2124. 5139. 9141. 6152161. 4170. 6 Inventory5537. 249. 265. 461. 768. 172. 676. 380. 2 Other3. 32. 22. 73. 21516. 81819. 120. 2 Current assets147. 7135. 2157. 7221. 6249. 2262. 7281. 4298. 1315 Accounting payable4030. 350. 478. 794. 4104. 1110. 9116. 6122. 6 Other11. 39. 410. 13. 27. 88. 79. 49. 910. 5 Current Liabilities 51. 339. 760. 991. 9102. 2112. 8130. 3126. 5133. 1 Working Capital 96. 495. 596. 8129. 7147149. 9161. 1171. 6181. 9 Change in Working Capital 0. 9 1. 3 32. 9 17. 3 2. 9 11. 2 10. 5 10. 3 CAPM: Re= R f+? (Rm-Rf) = 0. 0674 + 1. 09 x 7. 5 = 14. 92% Terminal value by with a multiple: TPG is willing to pay 400-500 billion lire for 100% of Ducati. Enterprise value: 280+140=420-40=380 Earnings multiple: (Enterprise value)/(EBITA for 1995)=380/60. 4=6. 3 (how many times this year’s profit is TPG willing to pay for Ducati) We use the multiple on EBITA for 2003 ? 195. 2 x 6. 3 = 1229. 8 (this have to be discounted to present value we will therefore add it to 2003) Value of Ducati if it was all equity financed: 13/1. 1492 + 42. 3/1. 14922 + 17. 8/1. 14923 + 43. 1/1. 14924 + 68. 7/1. 14925 + 66. 3/1. 14926 + 75/1. 14927 + 1310. 6/1. 14928=602. 3 billion lire But Ducati has liabilities so we need to value that as well. TABEL 319961997199819992000200120022003 Net interest expenses1131. 128. 928. 123. 117. 912. 36. 3 Tax shields(53. 5%) 5. 916. 615. 51512. 49. 66. 6 The tax shields illustrate how much less taxes’ Ducati needs to pay because of the interest expenses and that is what we need to discount in order to value Ducati. 5. 9/1. 1125 + 16. 6/1. 11252 + 15. 5/1. 11253 + 15/1. 11254 + 12. 4/1. 11255 + 9. 6/1. 11256 + 6. 6/1. 11257 = 56. 7 billion lire Value of Ducati: 602. 3+56. 7=659 billion lire Value of equity= 659-280=379 billion 4. Should Halpern consider applying a country risk premium in determining the appropriate discount rate for Ducati? They should not consider applying a country risk premium since the Italian the long government bond of Italy and the US are the same, i.. . 6. 74%. 5. Should Halpern walk away from this deal? Why or why not? Ducati has a lot of problems that I already covered under the first question. But as a summery are under great financial pressure and have faced severe problems in both manufacturing and financing. The reporting of their financial performance is not transparent at all instead it is entan gled with the Cagiva Group. This has made it hard for TPG to hunt financing to the LBO. It is perhaps not a surprise but they have a problem with their working capital and the payment delays leave them with a lot of unfinished bikes. This has lead to a decrease of their sales and enlarged wait lists. Then we have a badly manage management by the Castiglioni brothers who continues to shop around for other deals even though they signed the Letter of Intent. There is also the risk of insolvency of Ducati and bankruptcy of Cagiva which have made TPG worried about the Italian legacy. A bankruptcy of Cagiva after a closed deal could lead to a delay of the deal for up to four years and this would be cost them a lot of money. The deal also has a lot of benefits. Ducati is the world leading manufacturer of motorcycles and if managed well they could probably be profitable very soon. They already believe that this want be a problem with Minoli as CEO. The brand is well-known and easy for investors to understand. This opens up the opportunity for IPO which could in fact obtain higher sales compared to trading. TPG has worked with the deal for one year so they have really had time have to plan for the changes in the Ducati. 6. If TPG pursues the deal and purchases a stake in Ducati, what are the critical steps that TPG needs to take in order to make the deal successful? Please be specific in your answer! First of all they need to get the Castiglioni brothers to stop shopping around for other deals. They have â€Å"signed† the deal through the Letter of Intent and it is the brothers and Cagiva responsibility to follow the contract. Maybe easier said than done be the negotiations must continue in order to get a deal. TPG also need to finish their due diligence model so to that they can identify the future of the potential investment but also to estimate the proper price for the investment. It is hard to close a deal otherwise. The due diligence is also important in investigating the financial health, technology, the market, and the current management. If they sign the deal TPG can expect to take over a mismanaged company under financial distress that has great potential through its strong brand and manufacturing fundamentals. To make this work they need to use a capable management team that can build up both the brand and the company. They also need to start up and arrange the NewCO establishment, the senior debt and write at least thousands of checks on their first day.