Locker Room Talk Essay

Page 1 Locker Room Talk Ethical Case April 18, 2010 Page 2 The Locker Room Talk Ethical Case outlines a situation that is an ethical dilemma for CPA Albert Gable who has performed personal financial planning for Larry and Susan Wilson. The Wilson’s, in their discussions with Mr. Gable regarding their personal finances, mentioned that in the past they have had marriage problems but have worked through the problems and are not seeking a divorce. Gable and the Wilson’s became personal friends due to the relationship built during their personal financial planning. Mr. Gable also performs the annual audit for one of the largest banks in the town where they all live. The sample pulled for the audit at the bank included the Wilson’s loan information. While performing the audit, Mr. Gable discovers information on the Wilson’s loan that does not coincide with the information given to him during the personal financial planning. Mr. Gable is concerned and addresses the discrepancy with a loan officer but did not confide to the loan officer that he was also their personal financial planner. The loan officer confided in Mr. Gable that Mr. Wilson was setting up his business to divorce his wife without any compensation. This situation puts Albert Gable in a situation with a conflict of interests. His personal financial client is also a client of the bank where he performs the annual audit. The information the Wilson’s provided to him during their personal financial planning conflicts with the information provided on loan documentation at the bank. Albert Gable needs to determine the best course of action to take in this situation. The Stakeholders The stakeholders involved are: Page 3 1. Albert Gable – As the CPA, his professional business ethics are at risk and his personal reputation is on the line. He also has a large bonus weighing on his decision. 2. Mrs. Wilson – She has the understanding that her marriage is not at risk and the financial planning is for the benefit of her and her husband for their future. 3. Mr. Wilson – If he is not being honest with his wife and is planning on divorcing her, the information that Albert has uncovered during the audit could create problems for him. . The loan officer – the loan officer that shared Mr. Wilson’s personal information with Mr. Gable. 5. The bank – the relationship Mr. Gable had with the Wilson’s as personal financial planner was not disclosed to the bank and is a conflict of interest. Course of Action The best course of action that Mr. Gable should take is to meet with the Wilson’s and explain that he cannot continue w ith their personal financial planning. He should have them seek out another financial planning firm to complete their personal financial plans. He should explain to them that he completes the annual audit for the bank and during the audit he discovered discrepancies with the loan information and the bank statements provided to him to prepare their personal finances and due to the discrepancies he feels it is necessary to remove himself as their personal planner. By removing himself as the Wilson’s personal financial planner, this eliminates the conflict of interest with the bank audit. By informing the Wilson’s they need to locate another Page 4 irm and cannot use the CPA firm he is partner with for financial planning removes all conflict business and personal and maintains business and personal ethics. Furthermore, he needs to notify the bank of the conflict with the Wilson account and that he will not be able to conduct an audit of their accounts due the relationship that was initially formed with the personal finance planning. By following the above steps he protects the clients, the bank and upholds his pro fessionalism and his business ethics. Impact to Stakeholder The deontology approach was used to determine the course of action. This approach to ethics emphasizes doing what one should do in accordance with rules, obligations and/or ethical principles of the profession. The impact of the decision could cost Mr. Gable the banks account but if he would have acknowledge upfront his knowledge of the Wilsons prior to beginning the audit on their loan documents the situation could have been diverted. He is also losing a client, the Wilson’s due to the bank audit and the review he completed of their loan documents. If he would have acknowledged to the bank and had the file removed from the audit all of this could have been avoided. Mr. Gable will need to take the time and explain to his client the Wilson’s but he needs to keep it at a professional level and not discuss what was discovered only that it is conflict of interest. Conclusion Mr. Gable used poor judgment in his decision making process and has violated the ethic rules of the accounting profession. During the audit of the bank documentation he should have immediately notified the bank of the conflict with the Wilson file. He needed to be upfront with the bank and explain the Wilson’s were also a client of his for personal financial planning Page 5 nd have the file removed from the sample audit or bring in a third party to complete the audit on the Wilson documents. The loan officer should not have shared the personal information with Mr. Gable and Mr. Gable should have ended the conversation before it began. Sharing with the Wilson’s that discrepancies were noted between bank statements and loan documentation will allow the Wilsonà ¢â‚¬â„¢s to clear up the discrepancies at the bank in regards to their accounts. Page 6 References Brooks, L. J. , 2007. Business & professional ethics for directors, executives & accountants (4th ed). Mason, OH: Thomas South-Western.

Importance of Biogas plant Essay

The energy prospect is generally assessed on the basis of available commercial sources of energy i.e., fossil fuel like gas, coal, oil etc. Worldwide, there is a major transition underway in the energy sector. Biogas can be a potential source of renewable energy, Residues from biogas also proven as a significant source of organic fertilizer. If there is proper policy and implementation, Bangladesh’s energy crisis and organic fertilizer demand can be control through biogas plant. 1. Introduction By 2020, the world is throwing into turmoil as demand for energy begins to greatly exceed the supply – crippling many economies and triggering widespread social unrest. Many countries in the West may experience a decline in living standards – with oil rationing and conservation measures introduced by governments and substantial reductions in travel, tourism and aviation. The crisis plays out for nearly two decades, gradually being resolved by a switch to renewable energy and alternative fuel technologies. In Bangladesh context, neither the decision-makers nor the experts pay due importance on proper extraction and use of renewable energy. Here grater population is using natural gas and imported oil, with the present rate of consumption, natural energy resources like gas will be exhausted shortly and this is high time to derive policy and practice for exploration and use of alternative renewable sources if we want to meet energy crisis in near future. Biogas has been fou nd to be a proven renewable energy option. 2. Biogas Biogas, a cheap secondary renewable energy, is a gaseous fuel obtained from biomass by the process of anaerobic digestion or fermentation. Biogas fermentation is the process by which organic materials such as human or animal excreta, domestic wastage, agricultural wastage etc, are degraded, by huge quantities of various microbes of different functions, under anaerobic conditions, to yield methane (about 55-70% content), carbon dioxide (about 3045% content) and low amount of other gases in the end. Biogas can be used as a vehicle fuel or for generating electricity. It can also be burned directly for cooking, heating, lighting, process heat and absorption refrigeration. Cattle dung, agricultural residue, poultry dropping, water hyacinth, human excreta may be used as raw materials for biogas plants. A typical biogas plant consists of a digester in which the slurry (dung mixed with water) is fermented; an inlet tank used to mix the feed and let it into the digester; a gas holder/ dome in which the generated gas is collected; an outlet tank to remove the spent slurry; distribution pipelines to take the gas into the kitchen. 3. How Biogas produced Biogas is produced by the anaerobic digestion or fermentation of biodegradable materials such as biomass, manure, sewage, municipal waste, green waste, plant material, and crops. Biogas comprises primarily methane (CH4) and carbon dioxide (CO2) and may have small amounts of hydrogen sulphide (H2S), moisture and siloxanes. The gases methane, hydrogen, and carbon monoxide (CO) can be combusted or oxidized with oxygen. This energy release allows biogas to be used as a fuel. Biogas can be used as a fuel in any country for any heating purpose, such as cooking. It can also be used in anaerobic digesters where it is typically used in a gas engine to convert the energy in the gas into electricity and heat. Biogas can be compressed, much like natural gas, and used to power motor vehicles. 4. Advantages of Biogas Technology: A potential source of renewable energy. A source of improved organic fertilizer. A mechanism for wastage management. Save environment. 4.1 A potential source of renewable energy. Energy is one of the basic ingredients required to alleviate poverty and socio-economic development. The energy prospect is generally assessed on the basis of available commercial sources of energy i.e., fossil fuel like gas, coal, oil etc. Worldwide, there is a major transition underway in the energy sector. It is happening due to the following three major reasons: (I) A decline in fossil fuel availability, their predicted gradual extinction in the next Few decades and the resultant price volatility due to demand-supply gap. (ii) The need to drastically cut global emissions for mitigating climate change (80% Reduction by 2050). (iii) The need for energy security. In Bangladesh efficient utilization of renewable energy resources is yet to assume commercial dimensions and hence rational policy dissemination on renewable energy usage is essential. The renewable energy includes solar, wind, biogas and biomass; hydro, geothermal, tidal wave etc. Despite of above scenario biogas source can be use as a potential source of renewable energy. 4.2 A source of improved organic fertilizer. Bio product of biogas plant is improved organic fertilizer. This fertilizer contains organic component like Nitrogen, Phosphorus, and Potassium &Micro Nutrients: Nitrogen: Producing compost fertilizer Nitrogen losses calculated 50 % in every three months at the time of aerobic fermentation, on the other hand 10 % losses calculated while producing from biogas residues – Figure- 2 shows, Nutrition’s comparison between Chemical fertilizer and biogas residues from Biogas plant (Production in percentage): Biogas can outline sustainable land use. Reduced use of fertilizers and insecticides compared with lands used for row crops, protection of riparian areas, and erosion protection for sensitive land areas. 4.3 A mechanism for Wastage management Municipal waste is the abandoned materials which have been thrown away after use in daily life in the urban area. Municipal waste generally compose of food scrap, packaging materials, used plastic materials, tire etc. Due to the increasing growth of urban population in Bangladesh this municipal waste is getting high concerns from the management perspective. Also the management of this huge amount of waste is a worth of large expense. The huge amount of waste in the urban areas of Bangladesh due the rapid growth of population can be a potential source of biogas production. The calculation shows that by adopting active biogas collection procedure in the major landfills of the main cities can produce 319989.36 KWh of electricity. Recommendations are given to develop this technology within minimized cost and ensuring environmental safety. The unhygienic dumping zones in every city could me turned into a potential source of renewable energy by adopting active gas collection technology instead of spending money to manage the waste in that areas and keeping a huge land area unused. To explore the untouched potential of biogas source of municipal waste following actions are recommended: -To attract the investment in this sector government should demonstrate one pilot project with the help of foreign Development partners. -Private sectors should be given incentives to invest in biogas from municipal waste. -The technologies used in the countries successfully adopted waste to electricity system should be imported with necessary subsidies. -To facilitate the consciousness media should be used properly. 4.4 Save Environment. The greenhouse effect is caused by gases in the atmosphere (mainly carbon dioxide, CO2) which allow the sun’s short wave radiation to reach the earth surface while they absorb, to a large degree, the long wave heat radiation from the earth’s surface and from the atmosphere. Due to the â€Å"natural greenhouse effect† of the earth’s atmosphere the average temperature on earth is 15 °C and not minus 18 °C. The increase of the so called greenhouse gases which also include methane, ozone, nitrous oxide, etc. cause a rise of the earth’s temperature. The World Bank Group expects a rise in sea levels until the year 2050 of up to 50 cm. Flooding, erosion of the coasts, Stalinization of ground water and loss of land are but a few of the consequences mentioned. Until now, instruments to reduce the greenhouse effect considered primarily the reduction of CO2-emissions, due to their high proportion in the atmosphere. Though other greenhouse gases appear to be only a small portion of the atmosphere, they cause much more harm to the climate. Methane is not only the second most important greenhouse gas (it contributes with 20% to the effect while carbon dioxide causes 62%), it has also a 25 times higher global warming potential compared with carbon dioxide in a time horizon of 100 years. The Bio gas plant effectively reduces the amount of methane directly released into the atmosphere, by trapping it and facilitating its use as a green fuel. After burning, methane only releases harmless gases in air. Other uses of biogas: With the help of biogas we can drive gas generator to produce electricity in rural area. We can use gas incubator to produce poultry chicken from egg. We can use gas lantern by using bio gas in night time in village area. Hotel and restaurant can use biogas for cooking purposes by using the residue of vegetable and food waste. We can drive gas hitter for hitting water during winter season. Different poultry and dairy farm can mitigate their need of gas by using their own animal excreta. 5. Biogas significance in Bangladesh As a country of large population and for the convenient environment Biogas might be the potential source of energy. Though recently government has initiated some pilot project with the help of some foreign NGOs, but the utilization of the full potential is yet to reach. The main problem is lying in lack of public awareness and social prejudices. Government should supply the needed equipments to the private organization with less expense to encourage the involvement in this sector. 5.1 Types of Biogas Digester invented by Bangladesh government organization’s LGED: There are three types of basic designs of biogas plants tried in Bangladesh: (I) Floating cover digester: It works on the principle of constant pressure, changing volume. The digester, cylindrical well, commonly made from brick and cement, is covered with a floating steel cylinder with an open bottom (Fig. A). As the cylinder has a constant weight, it moves up when gas production is higher than consumption and comes down under the reverse conditions. (ii) Fixed cover digester: It works according to the principle, constant volume, changing pressure. When the rate of gas production is higher than that of gas consumption pressure inside the digester rises and expels some digester contents into the outlet compartment. When the consumption is higher than production, pressure inside the digester falls and the expelled materials in the outlet compartment run back to the digester (iii) Plastic Cover digester: A long cylindrical polythene/PVC bag, half-buried longitudinally in the ground, is fed with fresh cow-dung slurry at one end and discharged at the other. With the formation of gas, the bag swells like a balloon and the gasis led out to the point of use through a pipe by putting pressure on the balloon form outside In early 80’s, the floating type design was used for biogas plant. But dueto corrosion of the steel dome, the gas leakage problem happened and it could not be removed. Later on BCSIR tried with fixed done type desig n and it has been successful in all biogas plants. The plastic bag type designs not used in Bangladesh it is used in China. In this project, the fixed dome type design has been proposed. 5.2 Availability of biomass in Bangladesh for energy generation. The total annual generation and recoverable amounts of biomass in Bangladesh are about 165 and 9 MT/year respectively. Agricultural residues represent 48% of the total recoverable biomass followed by 23.9% from animal wastes and poultry droppings. In 2006, the biomass consumption for energy in Bangladesh was about 350 pico-Joules (PJ). At an average annual growth rate of 1.3%, the consumption in 2010 will be about 370 PJ. The total recoverable biomass energy of the country in 2006 was about 1250 PJ from which about 820 PJ of biomass energy was available for electricity generation. On the other hand, the total biomass energy consumption in 2006 was about 473 PJ. Assuming the same average annual growth rate of 1.3%, the biomass consumption in 2010 will be about 286 PJ. Therefore, the amount of biomass energy available in 2006 was 777 PJ, which is equivalent to 216 terawatt-hours (TWh). According to these two estimates and considering that the consumption of biomass for non-energy purposes is negligible, the annual available biomass energy potential for electricity generation in Bangladesh is in the range of 216- 250 TWh. 5.3 Present biogas Generation Rate: According to Infrastructure Development Company Limited (IDCOL) sources, Bangladesh has 215,000 poultry farms and 15,000 cattle farms where electricity could be generated by establishing biogas plants. So far, 35,000 biogas plants have been established for the production of gas for cooking purposes in the rural areas. IDCOL has set a target of establishing 60,000 biogas plants by 2012, each of which could produce, on average, 94.22 square feet of gas. At present, 3.3 million square feet biogas is being produced in the country. 5.4 Affordability Biogas is a proven technology; there is no risk of failure if proper design and supervision can be ensured. Most of the micro finance institutions are now convinced and took decision to provide loan for the construction of Biogas plants. Most of the urban poor can not afford gas connection as it costs Tk. 200 to Tk. 400 per month. Instead they can install Biogas plants with. Bank loan and repay the loan out of their fuel savings ‘domestic’ size Biogas plant of 100 cft capacity cost Tk. 15,000 to Tk.18, 000 and can meet the cooking energy need for a five- member family. Impact on health and environment: Large scale bio energy development in Bangladesh could bring significant environmental benefits. Sustainable bioenergy development could: Reduce higher level of deforestation. Reduce net greenhouse gas emissions. Improve air quality and reduce acid deposition. Improve soil quality and reduce erosion. Reduce land filling by adding value to residues. 5.5 Few case study: Biogas plants in different institution: LGED has constructed 61 Biogas plants in different educational institutes, orphanages, hospitals, school/college hostels for solving the sanitation problems and getting biogas as an alternative energy source. One of these important plants is in Faridpur orphanage. There are 250students and staff in Faridpur orphanage. For their night soil disposal they needed to construct a septic tank for 250 users with Tk.60, 000. LGED in mid 1992 constructed a Biogas plant with Tk. 16,000which served the purpose of septic tank as well as a source of gas and fertilizer. This has reduced the investment by Tk. 34,000 and the mission has been saving Tk. 25,000 against fuel cost per year. Case 1: Ganaktuli Sweeper colony, Dhaka: There are five buildings for sweepers and 40 families reside in each building. The latrines of the buildings were not connected with any septic tank or sewerage system. Previously, night soil was passing through surface drain creating health hazard. To connect the latrines of building No-I to the nearby sewerage line Tk. 60,000 and to construct a septic tank for 221 users of the building Tk. 50,000 were necessary. Instead, LGED constructed a Biogas plant for Tk. 20,000 in 1993which is working till today without any problem giving sufficient gas to meet fuel need of all families of 1 building. There was some maintenance for leakage and Tk. 300 was spent. Observing the performance of the plant, residents of other 4 buildings created pressure on the city corporation to construct similar plant in those buildings. By now Biogas plants have been constructed in all the remaining 4 buildings. Case 2: ‘Ecological Village’ Amgram/Uttar Hogla in Madaripur: LGED took up ‘Ecovillage’ project on experimental basis as pilot programme with the objectives to make the villagers aware about environment and technology, create clear, healthy and acceptable environment in the villages and inspire the people around the villages to accept such project. There are 662 people in the village in 123 families. Besides other socio economic activities, the following facilities were also provided: There was no latrine in the village and 95latrines were constructed. As an alternative source of energy 15  Biogas plants were installed, three persons were trained in the construction of Biogas plant. The Biogas plants are providing energy input to the villagers. 6. Conclusion: Different implementing agencies in Bangladesh, which are active in promoting bio gasification technology, are not paying sufficient attention to effective and focused groupcollaborative R&D aimed at renovating, optimising and improving the design for adaptation to local conditions. Limited R&D facilities and capabilities and lack of co-ordination among the researchers and implementing authorities may well pose a major stumbling-block towards the success of this endeavour. Moreover, the follow-up action program is also very limited. Sometimes, the plant-owners do not get proper technical guidance for the operation and maintenance of their plants. Thus, the successful application and extension of this option depends on: Institutional measures and close collaboration between sectors involved. This should include, among others, provision for soft loans and/or subsidy; availability of standard prototype for design and construction and site-specific maintenance guidelines; meaningful public involvement which should aim at passing relevant information of this technology to the community to increase awareness and promote acceptability of this technology; Accurate calculation of the benefits of this technology. Biomass could play a role in reducing C02 emissions in both of these sectors. As the slurry remains in the digester for 30-40 days in anaerobic condition, the effluent becomes pathogen free and the output is smell-free combustible gas and organic fertilizer which is improving the environment and preventing diseases. At present Bangladesh meet 46.15% of its energy need by agricultural residue, 10.5% by cow dung, 12.9% by fuel wood and 33% by tree residue. This means that to meet our energy need we are depriving, ourselves from organic fertilizer and creating environmental imbalance by  deforestation. One pragmatic estimate puts that the use of biogas will reduce energy deficit at least by 15%. Reference: Bangladesh Power Development Board. Annual Report of 2006-2007. Dhaka, Bangladesh: BPDB, 2008. Available www.bpdb.gov.bd/download/Annual%20Report-10.pdf Biogas Digest,Vol 1, Information and Advisory Service on Appropriate Technology (ISAT),GTZ (PREGA), Bangladesh Country Report,2003. Obozov, A.D. and Asankulova, â€Å"Biogas in Kyrgyzstan†, Applied Solar Energy, 2007, Vol. 43, No. 4, pp. 262–265 Waste Concern Database, http://www.wasteconcern.org/database.html M. Alamgir and A. Ahsan,† Municipal Solid Waste and Recovery Potential: Bangladesh Perspective† ,Iran. J. Environ. Health. Sci. Eng., 2007, Vol. 4, No. 2, pp. 67-76 S. Karapidakis and Anna Tsave,â€Å"Electric Power Production by Biogas Generation at Volos Landfill in Greece† Applied Solar Energy, submitted for publication Dr.M.Eusuf, Technological Feasibility of CDM Project Dhaka City Solid Waste.NTE.Bangladesh JICA (2004) Solid Waste Management Project of Dhaka City Corporation, Final Report of JICA Expert, Bangladesh. Available: www.dhakacity.org/cleandhaka/†¦/CleanDhakaMasterPlanMain.pdf ICAR paper (report issued by the Indian Council of Agricultural Research, New Delhi) http://www5.gtz.de/gate/techinfo/biogas/framecond/environ.html Winrock International, Nepal Biogas Support Program (BSP) Nepal, Accessed from google on 10th September 2012. Official website of Renewable energy information network, Bangladesh. Available at: http://www.lged-rein.org Accessed on 12 September 2012. Biogas program Grameen Shakti http://www.gshakti.org/index.php?option=com_content&view=article&id=60&Itemid=6 4 Accessed on 12 September 2012. Bangladesh electricity production from renewable sources. Available at: http://www.indexmundi.com/facts/bangladesh/electricity-production-from-renewablesources. Renewable Energy Prospects & Trends in Bangladesh Presented by-Mazharul Islam. Bangladesh Power Development Board. ZakariaMahbub, Husnain-Al-Bustam, SuvroShahriar, T.M. IftakharUddin, AbrarSaad, â€Å"International Journal of Engineering Research and Applications (IJERA)†, Vol. 2, Issue 2, Mar-Apr 2012, pp.896-902. Md. M. Biswas, Kamol K. Das, Ifat A. Baqee, Mohammad A. H. Sadi, Hossain M. S. Farhad, â€Å"Prospects of Renewable Energy and Energy Storage Systems in Bangladesh and Developing Economics†, Global Journal of researches in engineering , Volume 11 Issue 5 Version 1.0 July 2011. Website of Wikipedia on Renewable energy. Available at: http://en.wikipedia.org/wiki/ Electricity_sector_in_Bangladesh#Renewable_energy Md. ZunaidBaten, EmranMd.Amin, AnikaSharin, Raisul Islam, Shahriar A. Chowdhury, â€Å"Renewable Energy Scenario of Bangladesh: Physical Perspective†, International Conference on the Developments in Renewable Energy Technology (ICDRT) 2009, Dhaka, Bangladesh. Mir NahidulAmbia, Md. Kafiul Islam, Md. AsaduzzamanShoeb, Md. Nasimul Islam Maruf, A.S.M. Mohsin, â€Å"An Analysis & Design on Micro Generation of A Domestic SolarWind Hybrid Energy System for Rural & Remote Areas-Perspective Bangladesh.† 2010. Website of Wikipedia on biogas. Available at: http://en.wikipedia.org/wiki/biogas. Potential of micro hydro power units in Bangladesh. Available at:http://www.lged-rein.org/ How wind turbine works. Available at:http://www.energymatters.com.au/renewableenergy/wind-energy

An Example of an Introduction

Body of Essay An Example Of How To Construct A Six Step Paragraph Step one: Write a lead in sentence that refers back to the essay topic It is the intention of this paragraph to analyse how and when Drug Inc. enior managers can deal with resistance to change, downsizing and casualisation of non-core employees. Step Two: Cite expert opinion to support your upcoming cause and effect analytical example. Kotter Schlesinger (1979), as cited in Wood et al. , (2006:504), argues that there are six ways to deal with resistance to change namely education and communication, participation and involvement, support and facilitation, negotiation and agreement, manipulation and cooptation and explicit coercion. Step Three: Write a measurable cause and effect analytical example Drug Inc. top managers have decided to downsize and casualise its non-core workforce to reduce labour costs and introduce internet selling as part of its operations. However, these changes can impact on employees and may lead to a decrease in job satisfaction, absenteeism, morale, uncertain and fear of future employment. Therefore the Drug Inc. managers implement its changes by implementing a strategic planned change management approach that deals with resistance to change processes. Step Four: Cite expert opinion to support your analysis of the advantages of: Makawatsukul Kleiner (2003), argues that the key advantages of managers and change agents being actively involved in managing change is that they are able to inform employees about the impending change being planned with open and honest communication, and by expressing the reason for downsizing. In stage 2 the remaining employees should be involved in redesigning and improving their job roles and responsibilities. In stage 3 Drug Inc. generous remuneration offers should be made to the survivors of the downsizing to highlight how valued they are by management. In addition Makawatsukul Kleiner (2003), also argues that the Drug Inc. needs to provide stress management, skill assessment, career counselling, workplace placement programs while training programs should also be provided to the remaining employees, in an effort increase their confidence and skills in performing new job roles. Step Five: Cite expert opinion to support your analysis of the disadvantages of: Whereas, Dawson, (1996), as cited in Saka (2002), argues that the key disadvantage of managers and change agents not communicating to employees the impending threat of downsizing and job redesign may result in an increase in rumours that leads to an increase in staff absenteeism, a decline in staff morale and loyalty that could ultimately result in an increase in staff turnover of highly talented and core employees. Step Six: Write a concluding sentence (or two) that summarises the key point(s) contained in the paragraph In conclusion, resistance to downsizing within the Drug Inc. organization can only be overcome if employees concerns are dealt with openly and honestly and the survivors new job roles and responsibilities are clearly defined and opportunities for training and development and advancement are explained to each employee on an individual basis. An example of how to write an excellent paragraph This is a repeat of the previous page but in the correct paragraphing format) It is the intention of this paragraph to analyse how and when Drug Inc. senior managers can deal with resistance to change, downsizing and casualisation of non-core employees. Kotter Schlesinger (1979), as cited in Wood et al. , (2006:504), argues that there are six ways to deal with resistance to change namely education and communication, participation and involvement, support and facilitation, negotiation and agre ement, manipulation and cooptation and explicit coercion. Drug Inc. top managers have decided to downsize and casualise its non-core workforce to reduce labour costs and introduce internet selling as part of its operations. However, these changes can impact on employees and may lead to a decrease in job satisfaction, absenteeism, morale, uncertain and fear of future employment. Therefore the Drug Inc. managers implement its changes by implementing a strategic planned change management approach that deals with resistance to change processes. Makawatsukul Kleiner (2003), argues that the key advantages of managers and change agents being actively involved in managing change is that they are able to inform employees about the impending change being planned with open and honest communication, and by expressing the reason for downsizing. In stage 2 the remaining employees should be involved in redesigning and improving their job roles and responsibilities. In stage 3 Drug Inc. enerous remuneration offers should be made to the survivors of the downsizing to highlight how valued they are by management. In addition Makawatsukul Kleiner (2003), also argues that the Drug Inc. needs to provide stress management, skill assessment, career counselling, workplace placement programs while training programs should also be provided to the remaining employees, in an effort increase their confidence and skills in performing new job roles. Whereas, Dawson (1996), as cited in Saka (2002), argues that the key disadvantage of managers and change agents not communicating to employees the impending threat of downsizing and job redesign may result in an increase in rumours that leads to an increase in staff absenteeism, a decline in staff morale and loyalty that could ultimately result in an increase in staff turnover of highly talented and core employees. In conclusion, resistance to downsizing within the Drug Inc. organization can only be overcome if employees concerns are dealt with openly and honestly and the survivors new job roles and responsibilities are clearly defined and opportunities for training and development and advancement are explained to each employee on an individual basis. An Example Of A Conclusion In conclusion, the key issues identified within the KD Transport case study are John the Managing Director’s autocratic leadership style, his autocratic decision making style and involvement in job analysis and job redesign in preparation for downsizing non core job roles. In order to overcome the issues identified in KD Transport, these issues should be addressed efficiently. The first key problem identified is that John the Managing Director of KD Transport should be ready to change his traits and behaviours to overcome the problems facing at the moment due to his autocratic leadership style and autocratic decision making. The first key recommendation is that John adopts more participative leadership style over the current autocratic leadership style because it is likely to result in creative and innovative ideas, employee involvement in decision making that generate a broad range of actions that could be considered for implementation. The second key problem identified in the case study is that John the Managing Director should involve fellow managers and employees in the decision making process. The second key recommendation is that John adopts participative decision making where the Managing Director seeks input from other managers and employees and it is likely to result in increased employee satisfaction, improved staff loyalty, increased productivity and more informal efficient decision making outcomes. The third key issue identified is that John should involve HR personnel in job analysis and job redesign process. The third key recommendation is that John the Managing Director seek the involvement of HR Personnel or a HR consultant in employee downsizing, job analysis and job redesign process because HR personnel have the expertise to conduct job analysis and identify which job roles should be downsized and which employees and job roles should survive in order to achieve short term as well as long term organizational goals and objectives. Furthermore, the HR personnel has the expertise to design a training and coaching process for the survivors of the re-organisation process at KD Transport to perform the new job roles and responsibilities as a result of the job redesign process that occurred with the amalgamation of three warehouses into one. Finally, John the Managing Director should take all the aforesaid factors into consideration in order to facilitate the smooth running of the business and over come the current problems that KD Transport is experiencing. An Brief Example Of A Bibliography (A bibliography must be in alphabetical order of authors cited) References: Compton, R. , Morrissey, W. , and Nankervis, A. , (2006), Effective Recruitment and selection practices, 4th edition, CCH Aust Ltd, Sydney Deresky, H (2008), International Management: Managing across borders and cultures, 6th edition, Pearson Prentice Hall, New Jersey, USA. Fish, A. , Bhanuogopan, R Cogin, J. , (2008), ‘Value orientations as predicators of cultural and business impact’, Cross Cultural Management: An International Journal, Vol. 15, No. 1, pp. 30-48. Fu, P. , Yukl, G. , (2000), ‘Perceived effectiveness of influence tactics in the United States and China’, Leadership Quarterly, Vol. 1, No. 2. pp. 35-55. Hayes, D. , Ninemeier, J. , (2008), Human Resources in he Hospitality Industry, John Wiley Sons Inc How To Cite Textbooks And Journals In Your Bibliography Citing textbooks in your bibliography is as follows: Surname, Initial of Christian Name, (Year of Publication) Title of Textbook, Name of Publisher, Place of Publication. Citing journals in your bibliography is as follows: Surname, Initial of Christian Name, (Year of Publication), Title of journal article, Name of journal article, Volume, Issue Number, Page Numbers. An Example of an Introduction Body of Essay An Example Of How To Construct A Six Step Paragraph Step one: Write a lead in sentence that refers back to the essay topic It is the intention of this paragraph to analyse how and when Drug Inc. enior managers can deal with resistance to change, downsizing and casualisation of non-core employees. Step Two: Cite expert opinion to support your upcoming cause and effect analytical example. Kotter Schlesinger (1979), as cited in Wood et al. , (2006:504), argues that there are six ways to deal with resistance to change namely education and communication, participation and involvement, support and facilitation, negotiation and agreement, manipulation and cooptation and explicit coercion. Step Three: Write a measurable cause and effect analytical example Drug Inc. top managers have decided to downsize and casualise its non-core workforce to reduce labour costs and introduce internet selling as part of its operations. However, these changes can impact on employees and may lead to a decrease in job satisfaction, absenteeism, morale, uncertain and fear of future employment. Therefore the Drug Inc. managers implement its changes by implementing a strategic planned change management approach that deals with resistance to change processes. Step Four: Cite expert opinion to support your analysis of the advantages of: Makawatsukul Kleiner (2003), argues that the key advantages of managers and change agents being actively involved in managing change is that they are able to inform employees about the impending change being planned with open and honest communication, and by expressing the reason for downsizing. In stage 2 the remaining employees should be involved in redesigning and improving their job roles and responsibilities. In stage 3 Drug Inc. generous remuneration offers should be made to the survivors of the downsizing to highlight how valued they are by management. In addition Makawatsukul Kleiner (2003), also argues that the Drug Inc. needs to provide stress management, skill assessment, career counselling, workplace placement programs while training programs should also be provided to the remaining employees, in an effort increase their confidence and skills in performing new job roles. Step Five: Cite expert opinion to support your analysis of the disadvantages of: Whereas, Dawson, (1996), as cited in Saka (2002), argues that the key disadvantage of managers and change agents not communicating to employees the impending threat of downsizing and job redesign may result in an increase in rumours that leads to an increase in staff absenteeism, a decline in staff morale and loyalty that could ultimately result in an increase in staff turnover of highly talented and core employees. Step Six: Write a concluding sentence (or two) that summarises the key point(s) contained in the paragraph In conclusion, resistance to downsizing within the Drug Inc. organization can only be overcome if employees concerns are dealt with openly and honestly and the survivors new job roles and responsibilities are clearly defined and opportunities for training and development and advancement are explained to each employee on an individual basis. An example of how to write an excellent paragraph This is a repeat of the previous page but in the correct paragraphing format) It is the intention of this paragraph to analyse how and when Drug Inc. senior managers can deal with resistance to change, downsizing and casualisation of non-core employees. Kotter Schlesinger (1979), as cited in Wood et al. , (2006:504), argues that there are six ways to deal with resistance to change namely education and communication, participation and involvement, support and facilitation, negotiation and agre ement, manipulation and cooptation and explicit coercion. Drug Inc. top managers have decided to downsize and casualise its non-core workforce to reduce labour costs and introduce internet selling as part of its operations. However, these changes can impact on employees and may lead to a decrease in job satisfaction, absenteeism, morale, uncertain and fear of future employment. Therefore the Drug Inc. managers implement its changes by implementing a strategic planned change management approach that deals with resistance to change processes. Makawatsukul Kleiner (2003), argues that the key advantages of managers and change agents being actively involved in managing change is that they are able to inform employees about the impending change being planned with open and honest communication, and by expressing the reason for downsizing. In stage 2 the remaining employees should be involved in redesigning and improving their job roles and responsibilities. In stage 3 Drug Inc. enerous remuneration offers should be made to the survivors of the downsizing to highlight how valued they are by management. In addition Makawatsukul Kleiner (2003), also argues that the Drug Inc. needs to provide stress management, skill assessment, career counselling, workplace placement programs while training programs should also be provided to the remaining employees, in an effort increase their confidence and skills in performing new job roles. Whereas, Dawson (1996), as cited in Saka (2002), argues that the key disadvantage of managers and change agents not communicating to employees the impending threat of downsizing and job redesign may result in an increase in rumours that leads to an increase in staff absenteeism, a decline in staff morale and loyalty that could ultimately result in an increase in staff turnover of highly talented and core employees. In conclusion, resistance to downsizing within the Drug Inc. organization can only be overcome if employees concerns are dealt with openly and honestly and the survivors new job roles and responsibilities are clearly defined and opportunities for training and development and advancement are explained to each employee on an individual basis. An Example Of A Conclusion In conclusion, the key issues identified within the KD Transport case study are John the Managing Director’s autocratic leadership style, his autocratic decision making style and involvement in job analysis and job redesign in preparation for downsizing non core job roles. In order to overcome the issues identified in KD Transport, these issues should be addressed efficiently. The first key problem identified is that John the Managing Director of KD Transport should be ready to change his traits and behaviours to overcome the problems facing at the moment due to his autocratic leadership style and autocratic decision making. The first key recommendation is that John adopts more participative leadership style over the current autocratic leadership style because it is likely to result in creative and innovative ideas, employee involvement in decision making that generate a broad range of actions that could be considered for implementation. The second key problem identified in the case study is that John the Managing Director should involve fellow managers and employees in the decision making process. The second key recommendation is that John adopts participative decision making where the Managing Director seeks input from other managers and employees and it is likely to result in increased employee satisfaction, improved staff loyalty, increased productivity and more informal efficient decision making outcomes. The third key issue identified is that John should involve HR personnel in job analysis and job redesign process. The third key recommendation is that John the Managing Director seek the involvement of HR Personnel or a HR consultant in employee downsizing, job analysis and job redesign process because HR personnel have the expertise to conduct job analysis and identify which job roles should be downsized and which employees and job roles should survive in order to achieve short term as well as long term organizational goals and objectives. Furthermore, the HR personnel has the expertise to design a training and coaching process for the survivors of the re-organisation process at KD Transport to perform the new job roles and responsibilities as a result of the job redesign process that occurred with the amalgamation of three warehouses into one. Finally, John the Managing Director should take all the aforesaid factors into consideration in order to facilitate the smooth running of the business and over come the current problems that KD Transport is experiencing. An Brief Example Of A Bibliography (A bibliography must be in alphabetical order of authors cited) References: Compton, R. , Morrissey, W. , and Nankervis, A. , (2006), Effective Recruitment and selection practices, 4th edition, CCH Aust Ltd, Sydney Deresky, H (2008), International Management: Managing across borders and cultures, 6th edition, Pearson Prentice Hall, New Jersey, USA. Fish, A. , Bhanuogopan, R Cogin, J. , (2008), ‘Value orientations as predicators of cultural and business impact’, Cross Cultural Management: An International Journal, Vol. 15, No. 1, pp. 30-48. Fu, P. , Yukl, G. , (2000), ‘Perceived effectiveness of influence tactics in the United States and China’, Leadership Quarterly, Vol. 1, No. 2. pp. 35-55. Hayes, D. , Ninemeier, J. , (2008), Human Resources in he Hospitality Industry, John Wiley Sons Inc How To Cite Textbooks And Journals In Your Bibliography Citing textbooks in your bibliography is as follows: Surname, Initial of Christian Name, (Year of Publication) Title of Textbook, Name of Publisher, Place of Publication. Citing journals in your bibliography is as follows: Surname, Initial of Christian Name, (Year of Publication), Title of journal article, Name of journal article, Volume, Issue Number, Page Numbers.

The Effects of Music in Therapy Essay Example | Topics and Well Written Essays - 2000 words

The Effects of Music in Therapy - Essay Example In addition, individuals who have difficulties speaking after stroke, music therapy can stimulate language canters within the brain; thus, promoting the ability to sing. Playing music develops coordination of both gross and fine motor within people with impaired motor or neurological trauma because of stroke or head injury. Music therapy brings relaxation and has positive effects that enhance communication and emotional comfort; moreover, it enables recall of life experiences and emotional experiences. Music accompanies many, significant life events and in most cases the musical memories get stored for long periods compared to those that are not accompanied by music. Therefore, if words are no longer recognizable, familiar music offers a sense of comfort and safety thus decreasing anxiety. While cognitive and language functions deteriorate with age, many musical abilities seem preserved for longer periods. Music is universal to all human cultures and the capability to comprehend musi c is innate similar to communication. Melody in vocal communication results from roots of oral language and is possible to trace it together with human development; thus, music and language seem to have special features that offer music a chance to shape and improve language processing (Moreno 334). Both music and speech represent complex uses of sound by people and scientists have found that language and music share common areas in brain. Moreover, time organizes music and language; thus, language and music together with synapses that support them increase with time. Therefore, music and language rely on exposure to expand and they are both specific to culture since how English speakers organize words and music differs from how Japanese speakers organize their music and words. Learning through music is useful in strengthening non-musical areas like communication and physical coordination, which are essential to the functioning of everyday lives (Moreno 334-340). Music therapists us e music to foster self-expression among patients with emotional disorders, as well; they use receptive music listening to aid in training and physical rehabilitation of people suffering from neuromuscular conditions (Aldridge 18). Thus, music therapists employ lyric discussion to demonstrate and emphasize language thoughts in children or adults with brain injuries. Music therapists use developing knowledge to determine effective strategies for using music in rehabilitation of individuals with neurologic dysfunction resulting from traumatic brain injury. In this setting, music therapy is coordinated in accordance with other therapies to aid patients attain their cognitive, sensory-motor, communication and social aspirations of rehabilitation. Research shows that pairing music and physical therapies can improve cognition, communication and ease discomfort (Aldridge 25). Music is a sensory medium able to arouse the nervous system and cueing altered states of awareness in individuals (M oreno 339). Music therapy is an effective treatment for someone with low awareness states, whose receptive and expressive communication skills have severely been compromised. Music therapists believe that the fundamentals of communication are similar to those involved in music. Patients who have low awareness sta

The State Judicial Selection Process Assignment

The State Judicial Selection Process - Assignment Example Once a judicial officer ir a judge has been appointed, it would be expected that he or she would serve for a period of one year and then they would be subjected to a retention election based on the positive and negative affirmative yes or no. it is important to note and mention that the one year probation year serves as a litmus test to gauge the service and effectiveness of the judge. In any case the retention panel notes or realizes that the merit and quality of the judge has taken a dip of whichever aspect, the judge would not be re-elected and henceforth lose his or her judgeship position and stature. If a judge is elected his or her term would begin after the first Tuesday after the first Monday in January. Accordingly, there are irreducible minimums that are involved if a person wishes to serve as a judge in the state of Florida. The person must have practiced law and exhibited signs of excellence for a minimum period of ten years. The same person must be below the mandatory retirement age of seventy years, since it is a design that at the age of seventy the judges would have to retire. Another qualification is that the person must be a qualified elector within the legal fraternity and parameters. Intuitively, the vetting committee or panel would have the opportunity and chance to verify and interview an applicant then forward the same list of names to the governor of the state. The judicial nomination committee fronts the names of the three to six competent candidates to be considered for judgeship to the governor who is the appointing authority. In Florida, in case a vacancy occurs such as through resignation or natural death or cause, the judicial nominating committee would conduct vetting on the interested persons. The names of the successful applicants would then forward the name to the governor so that the vacancy would be filled accordingly. In Texas, the selection process

Two Fundamental Conditions Determine What Each One of US Can Become Essay

Two Fundamental Conditions Determine What Each One of US Can Become - Essay Example The sense of identity which individuals experience is determined by the moral and intellectual development and it defines what one becomes in life. The nine positions or stages of students’ journey during their development were provided by William Perry and have been substantiated by research (West 61). The identity of a student is congruent to his or her attitudes towards the acquired knowledge. The first category of the nine stages of development is that of received knowledge or dualism. The basic principle of dualism explains how individuals experience problems asserting that all problems can be solved. The ability of students to obtain the right solution to every problem hence determines how they experience life and thus what they become. The identities of people are diverse in terms of their achievement in life. Achievers are those who are capable of solving life problems through application of the right solutions. The knowledge received by a person is obviously a basic f actor which influences life achievement because it is through application of acquired knowledge that various tasks are achieved. However, knowledge requires skills and experience, which defines the identity of a person in terms of what has been achieved, and what that individual is capable of doing (DeRobertis 177). The feelings, which people develop about themselves significantly, influence problem-solving abilities because those who believe that they can manage situations and overcome challenges have a different identity from people who are submissive to the inevitable life challenges. Additionally, full dualism is a position presented by Perry that demonstrates the need to ignore solutions, which are not considered right in solving particular problems. As a result, it can be argued that the feelings people develop about their identity can be said to be a result of their ability to select the right solution to problems. People who are not able to learn ways of overcoming challenge s may have bad feelings about their own self. The concept of soft determinism views events and human decisions as being determined but moral responsibility and freedom exists but on the other hand, Jean Paul Sartre argues that the decisions, which determine our existence, are a result of an accident or chance (Odesanmi 85). The decisions, which people make, justify what every individual is in life and the diverse identities, which are associated with the achievement of people in society. It is true that people have freedom to choose what they become in life but at times accidental destinies result from unexpected happenings such as disease or disability which change the identity of a person and the manner in which self-worthy is viewed by himself or other people. In child development, the humanistic approach or theory of teaching emphasizes self-concept arguing that when a child feels good about himself or herself then it shows a good start in acquisition of knowledge (Odesanmi 88). The works of Carl Rogers also demonstrates how the humanistic approach determines what a child becomes in life through evaluation of how a student feels about his or her self-worth. Positive feelings about oneself thus lead to motivated

Article 234 EC Treaty and the European Court of Justice Research Paper

Article 234 EC Treaty and the European Court of Justice - Research Paper Example The doctrines of direct effect and the supremacy of the EC law over the national law are the fundamental foundations of this structure. Under the doctrine of direct effect, individuals are bestowed with legal rights, which enable them to invoke the national courts directly to challenge the Member State’s failure to adopt the provisions of the EC law. Under the doctrine of supremacy, the EC law precedes national law in the event of any conflict between the National law and the EC law. Accordingly, by virtue of these two important doctrines, the European Court of Justice transformed the preliminary ruling system from a mechanism in which individuals can challenge the EC law in the national courts into a framework in which individuals can challenge the national law in national courts in order to make the EC law prevail upon the national law3. Initially, there was a significant amount of protest by the national courts. Subsequently, the national courts began to accept such challenges under direct effect and commenced to protect the Community rights of individuals. Moreover, whenever an interpretation was required in a particular case, the national courts referred these cases to the European Court of Justice for clarification4. There were a few such preliminary references in the 1960s. They increased to nearly fifty by mid-1970s, over one hundred in the early 1980s, and around two hundred by 1990s. This clearly established that the national courts had become the key elements of the European legal system. In this manner, they have become a part of the judicial relationship of the European Court of Justice.

Mother daughter relationship in Mary Gordon's Cleaning Up (short Essay

Mother daughter relationship in Mary Gordon's Cleaning Up (short story) - Essay Example ut working for what you receive; therefore, Loretta never bathes for fear that she would be â€Å"putting herself in the camp of the Lavins’ children† (p. xx). Although she doesn’t like children, she makes an effort to engage herself in play with the oldest child, John Lavin, as her way of â€Å"pa[ying] her board† (p. xx). She knew her mother would have expected this of her. Although it is never written that the Lavin family is anything but accommodating during Loretta’s stay, Loretta constantly feels like an outsider. She is convinced that her mother’s actions caused Martine Lavin, the matriarch of the family, and other community members to see her as an inferior person. Later, when she becomes a well-educated woman, she still feels that her old community would condemn her because of her mother’s earlier behavior. â€Å"Cleaning Up† is, in parts, consistent with Gordon’s life. In the story, Loretta attains the same leve l of education that Gordon currently has. Loretta’s pre-college schooling is better than what Gordon was provided, but both earn a Master’s degree and use it to teach. Mother Perpetua is Loretta’s greatest influence. According to an Internet biography, Gordon received the same kind of influence from Elizabeth Hardwick and Janice Thaddeus. Gordon actually considered becoming a nun, a lifestyle that Loretta also briefly contemplates. Finally, Loretta’s work ethic is similar to Gordon’s. Gordon worked to support herself, just like Loretta. Against her mother’s advice, Gordon performed secretarial work and babysat for Thaddeus to put herself through school. Gordon’s own mother, though disfigured from and afflicted with polio, also worked as a secretary to support her family because her husband wouldn’t. The fact that Loretta strives as hard as her mother would have wanted her to, makes it clear that Loretta loved her mother despite the turmoil she’d created. Even though Loretta never saw her mother again, she thinks about

Florence Nightingale as one of the most powerful and influential women Essay

Florence Nightingale as one of the most powerful and influential women in history - Essay Example She became one of the most powerful and influential women in history giving women the right to engage themselves to different professions through her struggles and achievements. She exemplifies the power and ability of a woman who is allowed to express her talents and unique personality and share them with the larger society. Florence Nightingale was born on "May 12th, 1820" and was named after her birthplace in Florence, Italy. She was born into a wealthy, influential and upper-class British family. Although Florence's father did not want her to pursue a career, he encouraged her to educate herself in different fields. While Florence was developing her personality as an intellectual being, she realized how dissatisfied she was as an aristocratic woman. In contrary to her mother and sister who were enjoying this lifestyle. During her time, nursing did not count as an appropriate profession for a woman of her class and background because it is a vocation meant for poorer women; even comparing it to a cook. Despite that, she still pursued to study nursing and made it clear to those around her that this was her calling. Florence's parents did not agree with the idea and expected her to make a good marriage and maintain the typical aristocratic lifestyle. However, she rebelled against her family's wishes and succeeded in her struggle to study nursing after a long endeavor considering that they had no such tradition to training women to nurture a career apart from being a wife and a mother, not to mention the defiance she showed towards the "societal code for affluent young English women."1 Florence Nightingale As a young woman, Florence quickly became a famous, eminent and heroic figure in the nursing profession. She worked hard to "educate herself in the art and science of nursing." 2 Florence Nightingale She cared mostly for the poor and became an advocate of the improvement of medical services especially those in the infirmaries. With her advocate, she gained the support of then the president of the Poor Law Board, Charles Villier. "This led to her active role on the Poor Law's, extending further beyond the provisions of the medical care." 3 Florence Nightingale She became so devoted to her profession that she did not entertain a suitor in the name of Richard Monckton Milnes, a politician and poet, certain that marriage will interfere with "her ability to follow her calling to nursing." Nightingale considered marriage as her last concern; in fact, she declined Milnes marriage proposal much to her mother's dismay. But she had a long friendship with a politician by the name of Sidney Herb ert who, at that time, was the Secretary at War (1845-1846) and became "instrumental in facilitating her pioneering work in Crimea and in the field of nursing." 4 Florence Nightingale Florence even became a "key advisor" 5 Florence Nightingale to him in his political career. This proves how she is determined to change the status of women during her time and that someone of her gender can contribute her intellectual abilities for the betterment of the society. However, the support she got from Herbert did not hold true for her family, and even created conflicts for her at home. At that point, she had no support from anyone, yet she was determined enough to remain unmarried and continue

Financial Statement Analysis Case Study Example | Topics and Well Written Essays - 500 words

Financial Statement Analysis - Case Study Example This shows that the short-term financial position of Advance Auto Parts and Pep Boys is slightly better than that of AutoZone. While a low current ratio shows that the short term financial position is endangered, a very high current ratio would indicate idleness of working capital. It would mean that cash is not being utilized in an optimal way. For example, the excess cash might be better invested in equipment. A current ratio can be improved by increasing current assets or by decreasing current liabilities. Acquiring a long-term loan instead of short-term debt, selling an idle or less useful fixed asset are some of the many ways of improving the current ratio. The quick ratio (also called 'acid test ratio') indicates the liquidity of a business. The quick ratio looks only at a company's most liquid assets and compares them to current liabilities. It tests whether a business can meet its obligations even if adverse conditions occur. In general, quick ratios between 0.5 and 1 are considered satisfactory as long as the collection of receivables is not expected to slow. AutoZone has a very low quick ratio of 0.173 times.

Lord of the Flies - Visual appeal versus intense description Essay Example for Free

Lord of the Flies Visual appeal versus intense description Essay Both the Lord of the Flies novel and the 1963 Peter Brook film were amazing pieces of prose. Both mediums truly depicted the theme that savagery exists in everyone if one was given the chance to show it. Throughout both mediums the civilized boys that landed on the island paradise slowly became uncivilized and barbaric since they were not under the strict power and rule of their elders. They blamed their savagery on a pretend fearsome creature, when the evil that was contained within them was brought on by themselves. The movie left a stronger impression than the novel due to the fact that its story line was far more obvious and overblown. Both mediums were extremely alike with some minor exceptions. The 1963 Peter Brook film was more effective than the novel. This was so because it gave a visual depiction of what was actually being portrayed. Due to its obvious structure it gave an expected and intended result. In both mediums the plot was that small boys crash into a tropical island. In the beginning they are all ecstatic that they are without rules and restrictions on this tropical island. From their on the problem was their struggle against the brutal forms of savagery which possesses the quality of evil. They all slowly become uncivilized and barbaric causing chaos and tumult among the island. The movie vividly showed the tropical island they lived upon and portrays the layout of the island; which was shown often in a confusing way throughout the novel. The turning of events and the outcome of the whole story was far more understandable in the film. The setting was during WW2. The boys were from England. England at this time was very conservative and civilized. Upon arrival the boys showed this civilization through their behavior, attire, and thinking. Although explained in the novel the movie showed this to its viewers in a visual and far more interesting viewing. Rogers arm was conditioned by a civilization that knew nothing of him and was in ruins.- This quote from the book conveys an underlying meaning that Roger was not able to throw stones directly at Henry because he was taught that is was bad from his elders. The film showed the attachment of civilization to the boys in a more outright manner. The character development of the characters was yet another factor that the film showed more effectively. In the film characters were shown better through their expressions and body language. The book did also convey this but not as vividly. The protagonist Ralph changed immensely. He was a regular joe and tried to keep the boys focused on domestic order and the rules of civilization. Were going to have fun on this island! So dont try it on or else. This was said by Ralph at the beginning when he had the power of chiefdom. In a short time this idea had diminished and his 12 year old mindset changed into an adult mindset with responsibility and structure. Piggy, the intellectual who lacked physical stamina also held on to civilization and was killed by Jacks tribe. Jack Merridew was a dramatic character. He went from a civilized choir leader to an uncivilized hunter and savage who was responsible for much of the savagery that overtook the boys. Simon was the visionary of the group and was killed before he could tell everyone the true nature of the beast that they all feared. He was an artistic and sensible mystic and remained civilized throughout the story. The symbols of the story were conveyed better in the movie because they were not shown in an underlying and subtle way like in the novel but were conveyed very outright and in an obvious form. The main symbols were the fire, which represented means of rescue, hope, and civilization; Piggys glasses which represented civilization and intelligence; and the conch which represented authority and civil debate. All of these symbols were treasured by Ralph and Piggy because they all had means of civilization which they wanted. The film outright displayed in a visual appearance what was going on. Nothing was hidden or subtle like in the novel that Golding created. The plot, setting, character development, and symbolism were conveyed to viewers in a far more easier and accessible way in the film than in the novel. The elements of drama were more conducive in the film than in the novel. Foreshadowing was one of the main elements of drama that was shown. The novel foreshadowed chaos and tumult but did not allow the reader to know who was to be killed. On the contrary the movie allowed this to be know through obvious foreshadowing. An example of this is when Piggy was about to be killed. In the film for a straight five minutes, the rock which was to crush Piggy, was being moved by Roger. It was known for quite sometime that his death was approaching at a rapid pace. The foreshadowing of Ralph being left alone was immense. It was known from the start that Jack would gain all power and all would join his tribe since more appealing. the air was ready to explodea brassy glare had taken the place of clear daylight. This opened chapter 9 in the novel foreshadowing that something bad was on its way; Simons death. The movies foreshadowing of this was far more effective because one could visually see the tension and chaos aroused by the brutal thunderstorm. Irony was also displayed more conducively in the film. An example of this is when Simon was killed. This was very ironic because it was not expected for Simon the quiet one to die. The movie left a bigger dent on viewers with this ironic event by the visual appearance of poor Simons death and his frail body floating in the ocean. Other elements of drama shown in the movie such as facial expressions and body language lead to specific results a lot better than descriptive sections in the book. Being able to see with your own two eyes and not imagine within your mind allowed the films drama elements to be better than those of the book. Some sacrifices were made to preserve the story and the medium. In the film the pigs head was not ever labeled as the Lord of the flies like in the novel. It never talked. If the pig talked the film would have been extremely odd since the effects that would have made it talk would have been unrealistic. In both the movie and film sacrifices such as Ralph, the protagonist, not dying and the story ending with them getting saved were needed to preserve the story. The story of Lord of the Flies in both movie and book form were amazing pieces of art. The underlying meaning and point made in both mediums was that there is a dark side of human nature and that each member of humankind has this dark side. The island paradise conveyed was not only a symbol of Utopia but the Garden of Eden. In the beginning life could not have been better for all the small boys inhabiting the island but due to their young age, outside influences, and no adult intervention this paradise turned into a living hell inhabited by numerous evil beasts. The story shows how without a civilized influence(adult) small children can go wild. At age 12 and younger children need guidance and structure. The corrupted savages of the island paradise are perfect examples of independence for young children.

The Declaration of Independence and David Simon Essay Example for Free

The Declaration of Independence and David Simon Essay In this essay, I will explain what â€Å"The Declaration of Independence† says about the people’s right to happiness and compare it to David Simon’s essay There Are Now Two Americas. My County is a Horror Show and what he believes about Americans enjoying the same rights. David Simon believed that happiness involves money, land and opportunity. Lastly I will give my opinion on what I believe the right to pursue happiness involves and means. According to the first draft of The Declaration of Independence, people’s rights were being ignored by the King. Thomas Jefferson once said â€Å"mankind is more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed† (Jefferson,1), this is telling us that the people are allowing the corrupt government to take over their life and put them through suffering that they do not deserve or want. â€Å"Governments are instituted among Men, deriving their just powers from the consent of the governed† (Jefferson, 1), this one ruler mentality also known as absolute monarchy lets the ruler have full control of everything and has no limits on his wishes or power. This type of government allowed the one ruler or king to take away people’s right to be heard, seen and ultimately their happiness. One would think that because they live in the United started of America everybody gets treated equally, but in reality, they are wrong. In David Simon’s essay There Are Now Two Americas. My County is a Horror Show, Simon expresses his view on how Americans are not enjoying the same rights as others and how rich people have taken over the government. Simon also says â€Å"You witnessed it again with the healthcare debacle in terms of the $450m that was heaved into congress† (Simon, 3). He believed that rich people bought the government with their money so they could make more money and be richer. The lower class was always fighting to get basic need services such as healthcare and education. Most were at risk of becoming drug addicts and/or homeless. Many immigrants or citizen just wanted to live the American dream, which is considered the opportunity for prosperity and success, and an upward social  mobility that one will achieve through hard work. David Simon believed that money, land or to have opportunity to live a happy life is not based on money. Simon considers that with a minimum wage salary, a small home and a fair government you will be able to pursue and eventually acquired complete or full happiness. He says that the government has only helped the working class by raising wages and going into war so they can win more land and build more factories. In his essay, Simon says â€Å"It took a working class that had no discretionary income at the beginning of the century, which was working on subsistence wages. It turned it into a consumer class† (Simon, 2). The government has converted our people into working animals that only care about making or earning more money to waste it on unnecessary stuff they like but do not need. The engine that drove them to this gullible mentality was the ability to make money and realizing that they are able to afford everything they want and desire even when this desires are not needed. Having a fair society is being able to have moral choices without jeopardizing happiness. â€Å"Are we all in this together or are we all not?† (Simon, 5), David Simon is asking that as Americans we have to work together as a team to ensure everyone has their basic rights and happiness. He believed that capitalism is a good way of making money but it does not solve moral problems. â€Å"The other thing that was there in 1932, that isn’t there now is that some element of the popular will could be expressed through the electoral process in my country† (Simon, 5), he goes to say this because in 1932 the government bought the elections and the people of America were not able to choose their government. I believe that the right to pursuit happiness involves you speaking up when you feel your unalienable rights are being violated. The key word is pursuit, we all have the right to go after the things we want and what we think will make us happy; but happiness is not guarantee, is just the ability to look for it. Furthermore, happiness is not an entitlement either. We all have the right to take action for our own happiness as long as one’s rights are not being infringed. Unalienable rights are given to all human beings by their creator. It is the government’s responsibility to protect them without violating them. Finally, live life in a manner that you believe will lead you to happiness.

Performance Of An Organisation Over A Three Year Period

Performance Of An Organisation Over A Three Year Period Topic Area The topic selected for research programme is The business and financial performance of an organisation over a three year period and the organisation chosen to base on research is Sainsbury Plc. It is not appropriate to measure the performance of a business entity in isolation thats why the research will base on comparison of performance of Sainsbury plc with its market competitors, e.g. Tesco Plc over last three years by using different accounting performance measure techniques e.g. Ratio analysis, SWAT analysis. Reason for Choosing Topic Today in volatile market condition due to economic recession famously branded as Credit Crunch businesses are facing tremendous challenges and many big names from every sector e.g. Northern Rock, HBOS Woolworth completely wipe out from market which make it crucial to have external independent business analysis to save the interest of shareholders who are ultimate owner of the business. Having studied ACCA fundamental paper Performance Measurement (F5), professional paper Business Analysis (P3) and option paper Advance Performance Measurement (P5) has equipped me with competence of examines the financial and business performance of business entity most effectively. This is the reason for choosing the above mention topic out of other given topics because skills and knowledge require for this project under this topic I have already studied in detail. Supermarkets are very dominant member of our society who influences a lot in our daily household needs. In the UK food and grocery retailing accounts for nearly 50p in every pound spent in shops. 12.4% of household spending in the UK is now on food, drink and tobacco, compared to 14.3% twelve years ago (1998) and 17.3% twenty two years ago (1988). (IGD, n.d).People prefers supermarkets because of one stop all shop. Sainsbury Plc is among of biggest supermarkets famously known as Big Four Asda, Tesco, and Morrison. The reason for selecting Sainsbury plc for research project because of employed in company for almost five years and have detail knowledge about the company operational activities as well as its strategic performance. About Sainsbury Sainsbury Plc supermarket founded in 1869 by John James and Mary Ann Sainsbury, company started to sell own brand product in 1882 under the category of brand ranges Taste the Difference, Be Good to Yourself, Sainsbury Free form Sainsbury Basic etc which became 50 per cent of Sainsbury turnover in 1950. (Sainsbury Plc, nd). The group operate in three business segments, Supermarket chain, Property development and Sainsbury bank. Sainsbury jointly own Sainsbury Bank with Lloyds Tsb Banking Group and it has two property joint ventures with Land Securities Group Plc and The British Land Company Plc. Sainsbury has a heritage of selling quality food at fair prices. The large stores sell 30,000 products and non-food complementary products. The human capital employed by company almost equal to 150,000 and the online channel of Sainsbury plc available to 90 per cent of UK households. (J Sainsbury Plc, 2010) Company sells other companies products as well its own brand products. The other value added services used by company is Nectar Point loyalty card system. Performance measurement system The performance measurement is a process to obtain information to analyse the efficiency and effectiveness of business operation. Different quantitative and qualitative measures use to assess the performance of the organisation. The good performance measurement system should support organization corporate strategy, measure the both financial and business performance, identify the quality and strength of business process and spot the areas where the resources should be allocated to get the competitive advantage. Project Objectives The project objectives for the financial and business performance of the Sainsbury plc are as follow: Analytical review of Financial Performance of Sainsbury plc by comparison with competitor company Tesco Plc over last three years. Identify the key value drivers for any good performance and business issues obstacles the optimal performance. Determine the effect of Economic Recession on the Financial Performance of Sainsbury Plc. Critically evaluate the Strategic Position through analysis of Business Performance of Sainsbury plc and give recommendation based on conclusion How to Make Sainsbury Great Again. Research Questions To meet above mention objectives the following questions will be answered in research analysis. Q1-How competitive Sainsbury Plc performance in last three years in term of Market share and Sale growth compare to its competitor? Q2- What is the effect of economic recession on supermarkets profit and how Sainsbury Plc perform in contrast to its competitors under these circumstances? Q3-Liquidity Does Sainsbury have sufficient resources to meet its current business commitments and what is the change in liquidity in last three years with comparison to competitor? Q4- Gearing-How risky Sainsbury capital structure to justify the assumption of Going Concern Basis and what is change in gearing level in last three years link to its competitor? Q5 -What is strategic position of Sainsbury Plc and what are the critical success factors on which Sainsbury need to focus to get the competitive market advantage? Research Framework PART 2 Information gathering and accounting / business techniques: Primary Data The primary source of data mainly gathers through direct contact with information provider through interviews, meetings and quest nary session. These are very important source of information but there are limitations associate with it e.g. confidentiality issues, timing of available information, and cost to gather these information make them little of use for purpose of research. Secondary Data This is the research already carried out other than user of information which is available publically through different government and private agencies. Secondary data of information is more feasible as compare to primary data because it is not possible to carry out all qualitative and quantitative analysis due to time constraint and the cost associated with collecting that information. Information gathering sources Annual reports The audited annual report of Sainsbury plc and Tesco plc of last three years have been critically analysed and quantitative data collected for various ratio analyses to measure the financial performance of both companies. The director reports and independent auditor reports reviewed to identify the business performance. This is one of the main sources of information regards to both companies performances. Newspapers The newspapers read on daily basis to keep informed myself about any external changes in retail industry and plan of action taken by companies to meet these daily challenges. The newspapers which used in research were Guardian The Financial Times and The Independent. Different articles wrote by financial analysts helped to view the insight of companies and the economic change in the industry. Retail Magazine Various retail magazine also used in research work, the main ones are Sainsbury plc Companys monthly magazine Lets Talk help to gain the monthly up-to-date information about future plans and performance appraisal of different stores. The other magazine which also helped in research were The Student Accountant PQ magazine Sunday Times. Internet The Internet contributed an immense role in research work .Number of websites visited on daily basis for information collecting purpose. This source of information mainly emphasised because of benefits associated with it like, i.e. easy to access to the different kind of information, timely available and cost saving. Kaplan Study Notes Kaplan study notes of different papers e.g. F5 Performance Measurement, F7 Financial Reporting, F9 Financial Management, P3 Business Analysis, and P5 Advance Performance Measurement play vital part for research outcome evaluation and conclusion based on these results. Methods Used to Collect Information Interviews Personally visited the Islington Sainsbury Plc store and spoke to different department managers. Having worked in past in this Sainsbury branch helped a lot in whole process. The permission granted to use the information like company memo and other information which have been given in past in capacity of employee of the company. The personally pre set questions have been asked about the performance of Sainsbury plc, and the feedback of operation managers and HR manager noted. Visited whole premises to get the feel of atmosphere and also directly interviews the customers to know how they perceive the Sainsbury plc and its competitor Tesco Plc. Tesco Plc branch in Leytonstone visited on many occasion to interview the various department managers and the work force at the shop floor to get the information about the company operational structure and their supply chain management. Questions have been asked in changing result in company revenue in each quarter sales and the customer changing attitude affected by economic downturn. Library Regularly visited libraries in Leytonstone and Borough high street to read the books written by different research analysts and the news papers, magazines and many project related research notes on UK retail Grocery. This method of research was very helpful to understand the affects of external factors in the grocery industry. Limitations of information gathering and ethical Issues Many problems faced during information gathering process. The staff members of companies were not willing to share the information because of confidentiality issue; the managers were busy in their daily operational activities which made it difficult to access to the desire people for interview. In addition the interviews with company staffs and customers could be also seen as biased as it was not representing the whole population as people from different geographical ethical background have different perception about subject matter. Furthermore the online research was also a difficult task because of overload and irreverent information came out with different searches. The efforts made to sort out and get the relevant information was time consuming and costly. The authenticity of these information sources also had reservations. How to overcome the above ethical issues? Efforts made to build the confidence of the operational staff of the companies to ensure them that the information provided will only use for research purpose and any information given will only use after the permission of information provider. The previous five years work alliance also played a part to gain the trust of engaged interviewee in Sainsbury plc. The problems faced in relate to authenticity of information sources overcame by only used the information from reliable sources. Accounting and Business techniques and their limitations Ratio Analysis Ratio analysis is a most common tool for quantitative analysis of company financial statement by comparing the current year number to budget, previous years results and comparison with industry. Mostly business analysts and potential investors use the ratio analysis to measure the performance of the business. Its a key to determine the relationship between different variable in financial statement. It is easy to calculate and understood by people from non financial background. Limitation of Ratio Analysis The performance measure based on financial ratio analysis tempted manager to short term decision in expense of long term company objectives if the reward based on short term financial performance e.g., cut-off marketing cost which may improve profit in short term but will affect in long term. The ratios are easy to manipulate by Window Dressing and Massaging the Figures (Weaver, 2009) through different accounting policies used. Every company have different economic condition so it is not appropriate to compare them and the accounting policies used by different companies also influence the accounting results. The ratios calculated at particular time may not represent the whole year performance, e.g. effects of seasonal trades and one off transactions. The ratios calculated in isolation are meaningless so it is important to compare the result with preceding years, budget and industry. SWOT Analysis SWOT Analysis is a tool to analyse the strategic position of the company in term of internal (strengths, weaknesses) and external (opportunities, threats) factors. It assists business in strategy development, how to use internal resources, unique capabilities and core competencies to get the competitive advantage. Threats and opportunities arises everyday because of changes in business internal and external environment but with the help of SWOT analysis if the resources allocate on time at right place the threats can be turn into opportunities and weaknesses can be transfer into strengths. (Kaplan Financial- P3, 2009, pp. 78-79) Limitation of SWOT Analysis SWOT Analysis oversimplify the situation by categorise the different situational factors into different class. The categorization of different factors as opportunities or threats, strengths or weaknesses also an arbitrary. People have different views, for example a technology change, or an organisation structure can be an opportunity for one group of people and threat for other group. What is more important is that companies should aware of these changes and use them in their strategic planning to meet the long term objectives of the organisation to increase the wealth of shareholders. (NetMBA, n.d) PART 3 Results, analysis, conclusions and recommendations Note: All of the information used in the graphs presentation has been taken from calculation provided in Appendix. Financial Performance Ratio Analysis Sales Growth Sales growth is the most important factor to measure the market competiveness of any business. Figure 1 Source; (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsburys sales grown-up from 3.99 to 6.02 per cent from 2008 to 2009 but it only increased by 5.57 per cent from 2009 to 2010. Tesco sales grown from 10.92 to 13.95 per cent from 2008 to 2009 but there is huge decline in sales growth of 8.37 per cent from (13.95%) 2009 to (5.58%) 2010 where Sainsbury managed very well and only lose 0.45 per cent as presented in graph. The average sale growth rate of Tesco in last three years is 10.15 per cent which is half way above Sainsbury (5.19%) but it should be keep in mind that Tesco market share is two times of Sainsbury and it is multinational group of companies which can offset the loss of the economic down turn of one country against other country whereas Sainsbury operate in only one country. Figure 2 Source: ( J Sainsbury Plc Financial Statment, 2010,2009 2008) The spin from hybrid strategy towards cost leadership through running campaigns Switch Save Cook Save played a vital part to increase the sales and market share of Sainsbury.Mr Justin King chief executive of Sainsbury said that Sainsbury performance in 2009 was impressive and its surprised many analysts by results because it was expected to find the trading condition tough due to changing attitude of shoppers because of economic recession. The Like-for-like sale to the last quarter 21 March 2009 increased by 6.2 per cent and it served more customers (Samuel, 2009).In 2010 Sainsbury total sales (including VAT fuel) increased by 5.1 per cent, Total sales (including VAT, excluding fuel) increased by 4.3 per cent. The Like-for-like sales increase from 4.3 per cent to 24.4 per cent in 5 years time whereas the total sale increases from 6.7 per cent to 33.9 per cent in 5 year time. (J Sainsbury Plc A.R, 2010, p. 5) Profitability: Gross Profit Margin An increase in percentage of gross profit is desirable which can be achieved through well managed production cost and increase in sale price or volume. (Kaplan Financial- F5, 2010, p. 320) Figure 3 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury Gross Profit (G.P) margin reduced from 5.60 per cent to 5.41 per cent from 2008 to 2010 whereas Tesco gross profit margin increased from 7.67 per cent to 8.10 per cent from 2008 to 2010 as shown in graph. The continuous decline in G.P margin also due to phantom of adverse differential inflation in supermarkets overheads which direct affecting consumer, retailer and economy as whole. (Lex, 2010). Sainsburys cost of sale increased by 6.18 per cent from 2008 to 2009 and 5.63 per cent from 2009 to 2010 whereas sale growth rate is only 6.02 and 5.57 per cent respectively in each year as mention earlier which is not in line with cost of sale and result in G.P margin declined. In addition Sainsburys market penetration strategy in competition of other low prices stores through multi saving offers although increased the company market share but the G.P margin suffered. Net Profit Margin It is the percentage of net profit to sale. A higher net profit margin desirable which can be achieved through efficient cost saving or increasing sale prices. (Kaplan Financial- F5, 2010, p. 320) Figure 4 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury Net Profit Margin increased from 2.69 per cent to 3.67 per cent from 2008 to 2010 the period in which Tesco Net Profit margin reduced from 5.92 per cent to 5.58 per cent as projected above. Sainsbury N.P margin reduced in 2009 but they recovered very well and showed improvement on each areas i.e. underlying operating profit increased by 8.9 per cent, underlying profit before tax increased by 17.5 per cent and profit before tax and after tax increased by 57.3 per cent and 102.4 per respectively from 2009 to 2010. Return on Capital Employed (ROCE) Return on capital employed (ROCE) is a key measure of profitability. It measure the net profit generated through each of $1 invested in the assets. It is the net profit percentage of capital employed. A higher ROCE percentage is desirable which can be achieved through increase net profit margin or decrease capital employed. (Kaplan Financial- F5, 2010, p. 320) Figure 5 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury ROCE was not even near to Tesco in 2008 and 2009 but the encouraging factor is that its ROCE continuously improving in this period. It increased from 9.70 per cent to 14.76 per cent from 2008 to 2010 which is excellent performance whereas Tesco suffering a decline in ROCE in this period. Liquidity The liquidity measure the ability of the company to utilize its resources to meet its financial commitments. It is more important to have effective working capital management than profitable business, a profitable business can encounter problem if its run out cash flow. Current Ratio This is the current assets divided by current liabilities which measure the company ability to meet its short term liabilities. A ratio more than $1 is desirable but it varies according to industry type .Continue decline in current ratio or less than industry average indicate the financial difficulties. (Kaplan Financial- F5, 2010, p. 323) Figure 6 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury Current Ratio (0.65:1) was better than Tesco (0.61:1) in 2008 but it reduced by 15 per cent (0.55:1) in 2009 whereas Tesco current ratio improved by 18 per cent (0.77:1) in 2009 as stated above. The cause for this downturn in current ratio of Sainsbury because its total current assets reduced by 7.6 per cent due to the disposal of Non current assets held for sale in 2009 relating to properties in retail operations division, reduced by 91 per cent and reduction in cash and cash equivalents. Sainsbury current ratio come back to 2008 position (0.66:1) in 2010 due to the shortfall in cash and cash equivalent resources fulfilled and more non current assets placed for sale. Inventory Holding Period (In Days) It indicate the average number of days the inventory held in stock. The increase in inventory days shows that the company having problem to sell its stock and risk of obsolete stock increase. A decrease in inventory period is desirable but it should be manage effectively to minimise the risk of stock run out. (Kaplan Financial- F5, 2010, p. 323) Figure 7 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury inventory holding period reduced from 14.76 days to 13.6 days a reduction of 7.9 per cent from 2008 to 2010 whereas Tesco reduced from 20.31 to 19.04 days a reduction of 6.2 per cent in the same period which is a good performance by Sainsbury but what is the optimal inventory holding period for the industry is arguable which is very much dependent on the external factor like customer demand, company warehouse capacity and supply chain efficiency. Receivable Period (In Days) It represents the number of days companies allow to its customers to pay back for goods and services. The shorter receivable period desirable to maximises the cash inflows and reduce the risk of debt irrecoverable. (Kaplan Financial- F5, 2010, p. 324) Figure 8 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) The results presented above in relation to receivable days shows that Sainsbury have very effective credit management policy and allow only four days on average to their customers where as Tesco average period of twelve days which is two times above Sainsbury. Supermarket businesses normally base on cash transaction and during economic recession where people struggling to meet their utility bills allowing them of 12 days credit period increases the risk of debt irrecoverable Sainsbury aware of this fact and the credit period of four days more tolerable. Payable Period (In Days) This is number of days business take to pay back its trade creditors .The increase in payable days suggest that company struggling to pay its creditors on time however it also suggest that business take advantage to the credit offer to them. The decrease is payable days indicate that company ability to pay its creditor improving however it should not pay too early as it a valuable source of finance. it should be manage carefully so that the relation with suppliers are not hurt and where the discount offered for early payments the opportunities avail. (Kaplan Financial- F5, 2010, p. 324) Figure 9 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury on average takes 49 days to payback its trade creditors and Tesco takes 63 days credit which is 22 per cent higher than Sainsbury. It indicate that Tesco struggling to pay its trade creditors on time which also reflected from its gearing position as mention below. Sainsbury payable period increased from 49 days to 51 days from 2008 to 2009 an increase of 2.8 per cent the period in which Tesco increased from 62 days to 64 days an increase of 3.4 per cent. Sainsbury payable period reduced to 48 days in 2010 a decrease of 6.2 per cent from 2009 to 2010 whereas Tesco further increased to 66 days an increase of 3.6 per cent. The reason of this reduction in Sainsbury credit period of 2010 seem to be because of improving cash and cash equivalent resources of Sainsbury as shown in current ratio above but it require further investigation. It could be due to early payment discount opportunity taken or could be suppliers pressure because of economic recession. Risk Assessment Risk can be defined as Opportunity of business to adverse consequences due to uncertain future event. (Kaplan Financial- P3, 2009) Today in volatile market condition it is now even more important that business should have effective risk assessment policy and procedure. Financial Gearing It is percentage of long term debt to equity .If the percentage increases it indicate that business heavily relaying on debt finance to meet its long term needs which increase the level of risk as the interest on debt and capital repayment must be made. The ratio can be improved by using the equity finance for long term investment. (Kaplan Financial- F5, 2010, p. 325) Figure 10 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsburys Financial gearing portfolio much better than competitor Tesco. It only increased from 51 per cent to 62 per cent an increase of 21.7 per cent whereas Tesco increased by 56 per cent from (66.92%) 2008 to (104.4%) 2010which is very risk.It indicate that Sainsbury not much depending on debt finance unlike to Tesco and using retain earning for growth plan which is appropriate risk averse strategy under current financial market conditions where big names like Woolworth already gone from market. Interest Cover It is the operating profit before interest and tax divided by finance cost which indicates the business ability to pay off its finance commitment. If the percentage increase it indicate that the business condition improving but if the percentage decline it indicate it is getting difficult for business to pay off the interest charges. (Kaplan Financial- F5, 2010, p. 326) Figure 11 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury is showing signs of progress in interest cover with the percentage of 4.02 per cent to 4.8 per cent from 2008 to 2010 represent growth of 19.4 per cent from 2008 to 2010.The cause of this improvement is because of improvement in operating profit which increase by 34 per cent profit due to effective management of all operating expenses whereas their competitor Tesco facing expected decline of 46.5 per cent (11.6 to 5.97 percent) in interest cover which is in line with its increasing financial gearing of 56 per cent as seen earlier. Dividend Cover It is the net profit divided by dividend amount. A decrease in the dividend cover indicates that company facing difficulty to pay the dividend to shareholders. (Kaplan Financial- F5, 2010, p. 326) Figure 12 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsburys figure in term of dividend cover improving even though it declined from 1.85 to 1.33 from 2008 to 2009 a reduction of 28 percent due to the fact that net profit in 2009 decreased by 12.2 percent as we seen earlier but Sainsbury maintained shareholders expectation and paid off dividend with growth rate of 22 percent result in decline in dividend cover. The results of 2010 are really impressive the net profit increased by 102 percent as we notice above N.P graph, the dividend grown-up by only 10.6 percent which result in dividend cover increased by 82.8 percent from 2009 (1.33) to 2010 (2.43) while Its competitor Tesco facing decline in dividend cover of 10.4 per cent from 2008 (2.68) to 2010 (2.4). Earnings Per Share (EPS) EPS is the fundamental investor ratio which can be calculated by total earning less preference share divided by total number of share. It determine the profitability of company and widely used by investors. (Kaplan Financial- F5, 2010, p. 327) Figure 13 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury EPS results are showing outstanding performance although it reduced from 19.1 to 16.6 a reduction of 13 percent but Sainsbury recover very well at 32.1p in 2010 which is 93.3 percent improvement from 2009 (16.6p) and left behind its competitor Tesco (29.33p) by 2.8p who was above Sainsbury in 2008 (26.95p) and 2009 (27.14p) by 7.5p and 10.8p respectively as shown in graph. Dividend per Share (DPS) Dividend per share is very important tool for investor which measures what is the dividend company have given of each share it hold. (Kaplan Financial- F5, 2010, p. 327) Figure 14 Source: (Tesco Plc J Sainsbury Plc Financial Statments, 2008,2009,2010) Sainsbury DPS ahead of its competitor Tesco each year from 2008 to 2010.It increased from 12p to 14.2p from 2008 to 2010 an increase of 18.3 percent whereas Tesco dividend per share grown up from 10.9p to 13.05p an increase of 23.9 per cent but still behind Sainsbury. Business Performance SWOT Analysis Strengths Strong Brand Value Sainsbury Plc has long history of brand since 1869 and customer loyalty toward Sainsbury brand very strong. It has very dominant geographical presence throughout United Kingdom with 872 stores in which 537 are Supermarkets and 335 Convenience stores. Sainsbury serves 19m customers on average each week and enjoyed market share of 16 percent. Sainsbury is the world largest retailer of fair-trade goods by value. According to annual report of 2010 In UK one in every four pounds spent on fair-trade is spent at a Sainsburys store. (J Sainsbury Plc A.R, 2010, p. 5) Retail Awards Sainsbury won Supermarket of the Year Award in 2009 and 2007 in retail industry awards. It awarded A rating in Green to the Core survey carried by consumer group due to their customer engagement, fish policies, and sustainable product availability. It is the biggest retailer of Freedom Food (RSPCAs farm assurance and food labelling scheme) by amount and product range. It won CBI Peoples Organisation award because of their HR and people management excellence. Sainsbury won many retail quality awards in 2010 than any other supermarket which include seven out of fifteen categories for value product quality. (J Sainsbury Plc A.R, 2010, p. 12).In 2010 Sainsbury failed to take the supermarket of the year award run by Talkingretail.com but it secure other three awards of Community Retailer of the Year, Seafood Retailer of the Year and Convenience Chain of the Year for Sainsburys Local. (Dennis, Mike, 2010) Financial Strength Sainsbury Financial position improving as reflected in above analyses which create significant opportunities for future growth. Business created operation cash flow of  £1.2bn in 2010, Net debt reduced by  £122m in 2010 to  £1,549m (2009:  £1,679).Sainsbury Group remain  £3bn funding availability through debt finance which enough to fulfil future ambitions. Sainsburys bank also showed better growth with operating profit increase by  £19m. (J Sainsbury Plc A.R, 2010, p. 6) Opportunities: Nectar Card Sainsbury Nectar card scheme which launched in 2002 with joint venture of Sainsbury Plc, American Express and B.P (Wikipedia, n.d) have been very successful due to its unique character of customer choice to use the loyalty card on multiple brands unlike competitor Tesco club card which dont allow this freedom of choice. Nectar card scheme is a great opportunity for Sainsbury to evaluate the c