Monday, September 30, 2019
Complex and Dynamic Business World
ââ¬Å"The business world has become more complex and more dynamic. Planning tools are designed for stable environments. Therefore, planning should be abandoned. Please, comment on this statement. â⬠1035 Words 2 I. Introduction In todayââ¬â¢s increasingly dynamic and complex business world, it is important to decide whether to use and trust in planning tools or if one should abandon them because they are made for more stable environments. This essay will give an overview of the planning tools and techniques that exist for assessing the environment. It will discuss the use of planning tools in a complex and dynamic business world.The statement that planning should be abandoned in a complex and dynamic business world will be discussed in the following. II. Main Body ââ¬Å"A plan describes the chosen solution to a problem and lists what has to be done to achieve the goalâ⬠(Landau, 2012). We can categorize planning into three parts. During the first part goals have to be defined. In the second part the corresponding strategies have to be established. The third part focuses on finalising the plans. ââ¬Å"Managers use planning tools and techniques to help their organizations be more efficient and effective. (Robbins & Coulter, 2009) In a volatile and dynamic environment managers should not rely on planning. They should use planning as an indicator of what could potentially happen in the future and consequently try to restructure their organization in order to cope with market uncertainty. To do so, the managerial establishment has developed several techniques. One technique to assess the business environment is environmental scanning, which fundamentally consists of competitor intelligence and global scanning. Environmental scanning helps to foresee and decode changes in the environment via screening a lot of information.By applying this technique organizations are more likely to predict issues and concerns that could affect their current or planned activities right. Research results show that organizations that use this technique have a higher performance (according to Robbins & Coulter, 2011, pp. 276f. ). One part of the environmental scanning is competitor intelligence. In this process organizations gather information concerning their competitors. The information will be compiled by asking questions about their competitors such as ââ¬Å"Who are they? â⬠, ââ¬Å"What are they doing? and ââ¬Å"How will what they are doing affect us? â⬠. 3 ââ¬Å"Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from their own employees, suppliers, and customers. â⬠(Robbins & Coulter, 2011, p. 277) Although this statistic indicates that collecting competitor intelligence can be achieved through the utilization of an organisationââ¬â¢s extended network, competitor intelligence can be seen as a problematic subject as it often features a fine line between e thical and unethical.Another part of environmental scanning is global scanning, which is important for organizations with global activities. In a complex and dynamic environment managers broaden their view to gather global information. ââ¬Å"For instance, they can subscribe to information clipping services that review world newspapers and business periodicals and provide summaries of desired information (Robbins & Coulter, 2011, p. 277). One can say that this technique is very suitable for an unstable and dynamic environment, because it helps to foresee the environment and consequentially helps to realign, if necessary, the organizational goals and plans.On the other hand, gathered information can be interpreted wrongly, which can trigger a chain-reaction from wrong forcasting to wrong goals and plans. A second technique to evaluate the environment is forecasting. Forecasting is a prediction of outcomes, which will help to identify events that will happen in the future. The common consent about this method is that is effective and time efficient. The ultimate goal of forecasting is to facilitate decision making through gathering information. There are two different forecasting techniques.One is quantitative forecasting, which is preferred when sufficient and hard data is given. It is based on historical data and tries to predict outcomes. The other one is qualitative forecasting, which uses personal judgment and knowledge to predict outcomes. This technique is used when hard data is limited or hard to gather. ââ¬Å"First, itââ¬â¢s important to understand that forecasting techniques are most accurate when the environment is not rapidly changing. The more dynamic the environment, the more likely managers are to forecast ineffectively. â⬠(Robbins & Coulter, 2011, p. 79) 4 However, forecasting lacks the ability to effectively predict events like recessions or the actions of competitors. That leads to the assumption that organizations shouldnââ¬â¢t re ly on a single forecasting method, but should use several models to be on the safer side. But the challenge for managers is to interpret and then implement the information into the planning decisions. Finally organizations must remember that forecasting, as a marginal skill, can be trained and improved. A third technique to assess the environment is benchmarking.Benchmarking is a tool to improve an organizations performance by adapting outstanding practices from the top organizations within the environment. Studies verify the statement, ââ¬Å"that users have achieved 69 percent faster growth and 45 percent greater productivityâ⬠(Robbins & Coulter, 2011, p. 279) when using benchmarking. Benchmarking can be seen as a four step approach. It starts with the forming of a benchmarking planning team. The second step continues with the gathering of information and external data. Thirdly, when all data is gathered the analysis to identify performance gaps takes place.The last step is the preparing and implementing of an action plan. (Based on Y. K. Shetty, ââ¬Å"Aiming high: Competitive Benchmarking for Superior Performance,â⬠Long Range Planning, February 1993, p. 42) Managers use benchmarking as a tool to approach the leading position of their competitors without overtaking them. And if all organizations work inefficiently it wonââ¬â¢t be revealed. So this technique should not be followed in a dynamic environment, because it increases the likelihood that a manager will ââ¬Ëcopyââ¬â¢ the mistakes others make.So one can say ââ¬Å"Plans serve as a road map, although the destination may change due to dynamic market conditionsâ⬠(Robbins & Coulter, 2009, p. 170). III. Conclusion To sum up, one can say that planning is very helpful and necessary but it can be misleading. No matter how many planning tools managers use, they can only plan effectively if they understand how planning in dynamic environment works. They have to keep in mind that plann ing should only be used as an indicator of what could potentially happen in the future.I believe that planning should not be abandoned, but improved. 5 IV. References Robbins & Coulter, S. P. R. & M. C. , (2009). ââ¬ËPlanning'. In: Pearson International Edition (ed), Management. 10th ed. New Jersey: Pearson Education, Inc.. pp. (133-174). Robbins & Coulter, S. P. R. & M. C. , (2011). ââ¬ËPlanning'. In: Pearson Global Edition (ed), Management. 11th ed. : Pearson Education, Inc.. pp. (204-276). Prof. Dr. Christian Landau, Principles of Management, 24. Sep. 2012 (Session 2), EBS Universitat fur Wirtschaft und Recht, Oestrich-Winkel Complex and Dynamic Business World ââ¬Å"The business world has become more complex and more dynamic. Planning tools are designed for stable environments. Therefore, planning should be abandoned. Please, comment on this statement. â⬠1035 Words 2 I. Introduction In todayââ¬â¢s increasingly dynamic and complex business world, it is important to decide whether to use and trust in planning tools or if one should abandon them because they are made for more stable environments. This essay will give an overview of the planning tools and techniques that exist for assessing the environment. It will discuss the use of planning tools in a complex and dynamic business world.The statement that planning should be abandoned in a complex and dynamic business world will be discussed in the following. II. Main Body ââ¬Å"A plan describes the chosen solution to a problem and lists what has to be done to achieve the goalâ⬠(Landau, 2012). We can categorize planning into three parts. During the first part goals have to be defined. In the second part the corresponding strategies have to be established. The third part focuses on finalising the plans. ââ¬Å"Managers use planning tools and techniques to help their organizations be more efficient and effective. (Robbins & Coulter, 2009) In a volatile and dynamic environment managers should not rely on planning. They should use planning as an indicator of what could potentially happen in the future and consequently try to restructure their organization in order to cope with market uncertainty. To do so, the managerial establishment has developed several techniques. One technique to assess the business environment is environmental scanning, which fundamentally consists of competitor intelligence and global scanning. Environmental scanning helps to foresee and decode changes in the environment via screening a lot of information.By applying this technique organizations are more likely to predict issues and concerns that could affect their current or planned activities right. Research results show that organizations that use this technique have a higher performance (according to Robbins & Coulter, 2011, pp. 276f. ). One part of the environmental scanning is competitor intelligence. In this process organizations gather information concerning their competitors. The information will be compiled by asking questions about their competitors such as ââ¬Å"Who are they? â⬠, ââ¬Å"What are they doing? and ââ¬Å"How will what they are doing affect us? â⬠. 3 ââ¬Å"Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from their own employees, suppliers, and customers. â⬠(Robbins & Coulter, 2011, p. 277) Although this statistic indicates that collecting competitor intelligence can be achieved through the utilization of an organisationââ¬â¢s extended network, competitor intelligence can be seen as a problematic subject as it often features a fine line between e thical and unethical.Another part of environmental scanning is global scanning, which is important for organizations with global activities. In a complex and dynamic environment managers broaden their view to gather global information. ââ¬Å"For instance, they can subscribe to information clipping services that review world newspapers and business periodicals and provide summaries of desired information (Robbins & Coulter, 2011, p. 277). One can say that this technique is very suitable for an unstable and dynamic environment, because it helps to foresee the environment and consequentially helps to realign, if necessary, the organizational goals and plans.On the other hand, gathered information can be interpreted wrongly, which can trigger a chain-reaction from wrong forcasting to wrong goals and plans. A second technique to evaluate the environment is forecasting. Forecasting is a prediction of outcomes, which will help to identify events that will happen in the future. The common consent about this method is that is effective and time efficient. The ultimate goal of forecasting is to facilitate decision making through gathering information. There are two different forecasting techniques.One is quantitative forecasting, which is preferred when sufficient and hard data is given. It is based on historical data and tries to predict outcomes. The other one is qualitative forecasting, which uses personal judgment and knowledge to predict outcomes. This technique is used when hard data is limited or hard to gather. ââ¬Å"First, itââ¬â¢s important to understand that forecasting techniques are most accurate when the environment is not rapidly changing. The more dynamic the environment, the more likely managers are to forecast ineffectively. â⬠(Robbins & Coulter, 2011, p. 79) 4 However, forecasting lacks the ability to effectively predict events like recessions or the actions of competitors. That leads to the assumption that organizations shouldnââ¬â¢t re ly on a single forecasting method, but should use several models to be on the safer side. But the challenge for managers is to interpret and then implement the information into the planning decisions. Finally organizations must remember that forecasting, as a marginal skill, can be trained and improved. A third technique to assess the environment is benchmarking.Benchmarking is a tool to improve an organizations performance by adapting outstanding practices from the top organizations within the environment. Studies verify the statement, ââ¬Å"that users have achieved 69 percent faster growth and 45 percent greater productivityâ⬠(Robbins & Coulter, 2011, p. 279) when using benchmarking. Benchmarking can be seen as a four step approach. It starts with the forming of a benchmarking planning team. The second step continues with the gathering of information and external data. Thirdly, when all data is gathered the analysis to identify performance gaps takes place.The last step is the preparing and implementing of an action plan. (Based on Y. K. Shetty, ââ¬Å"Aiming high: Competitive Benchmarking for Superior Performance,â⬠Long Range Planning, February 1993, p. 42) Managers use benchmarking as a tool to approach the leading position of their competitors without overtaking them. And if all organizations work inefficiently it wonââ¬â¢t be revealed. So this technique should not be followed in a dynamic environment, because it increases the likelihood that a manager will ââ¬Ëcopyââ¬â¢ the mistakes others make.So one can say ââ¬Å"Plans serve as a road map, although the destination may change due to dynamic market conditionsâ⬠(Robbins & Coulter, 2009, p. 170). III. Conclusion To sum up, one can say that planning is very helpful and necessary but it can be misleading. No matter how many planning tools managers use, they can only plan effectively if they understand how planning in dynamic environment works. They have to keep in mind that plann ing should only be used as an indicator of what could potentially happen in the future.I believe that planning should not be abandoned, but improved. 5 IV. References Robbins & Coulter, S. P. R. & M. C. , (2009). ââ¬ËPlanning'. In: Pearson International Edition (ed), Management. 10th ed. New Jersey: Pearson Education, Inc.. pp. (133-174). Robbins & Coulter, S. P. R. & M. C. , (2011). ââ¬ËPlanning'. In: Pearson Global Edition (ed), Management. 11th ed. : Pearson Education, Inc.. pp. (204-276). Prof. Dr. Christian Landau, Principles of Management, 24. Sep. 2012 (Session 2), EBS Universitat fur Wirtschaft und Recht, Oestrich-Winkel
Sunday, September 29, 2019
Singapore Company Law
SAMPLE ONLY MID-SEMESTER TEST COURSE:LAW2464 COMPANY LAW DATE:17/03/2012 TIME ALLOWED:1 hour 40 minutes (including 10mins reading time) QUESTION (Prospectus Topic) In July 2011, Ah Beng was at his accountantââ¬â¢s office to talk about taxation matters. Whilst there, his accountant gave him a prospectus issued by Ionic Ltd. , a company listed on the Singapore Stock Exchange, to take home to read and if interested, to follow the instructions about investing in new shares in the company which were to be quoted on the Exchange.After reading the prospectus, Ah Beng was convinced that he was going to make a lot of money investing in the company which had stated that it had discovered a huge gold deposit in Western Australia. The prospectus contained a report by a geologist which stated that the gold was near the surface and therefore, easily mined. The prospectus also contained estimations of the amount of profits which it could make based on the current high price of gold. (False and/o r Misleading Statements) Criminal Lability Under S253(Jail and/or fine company is liable if it is an entity. Directions are liable.Statements are materially adverse from viewpoint of investors including Ah Beng. Who else is liable? The Accountant? No advice or false or misleaeding statement. Did he act intentionally or recklessly? No. No Lability. Could Geologist be liable? Yes, as his a conman. Actions were intentional. S254 Civil Lability Directors liable any defences under s255 SFA? Any defences under s255 SFA? Reasonable reliance on geologist, reports is reliance here reasonable. He is a conman. Not reasonable. Inquries Defence, May fail. Geologist liable to compensate no defence. Accountant assuming he made statements.Yes, if not. No. Ah beng will receive compensation for his loss. ALTERNATIVE Misrepresentaton. False Statement Made during negotiation that induces one into contract Geologist is dishonest and fraudulent misrepresentation. Recession of contract of sale of shares a nd damages for the tort of deceit. After applying for the shares, Ah Beng was issued 50,000 shares at the price of $1. 00 per share in September 2011. In January 2012, the local newspaper published an article about the arrest of a geologist in Western Australia who was claiming discovery of mines which turned out to be non-existent.A week later, news broke out that the arrested conman was the geologist whose report was contained in the Ionic Ltdââ¬â¢s prospectus and there was actually a very small deposit of gold very deep in the ground which would make any mining a loss-making venture. The price of the shares in Ionic Ltd immediately plunged and trading in the shares had to be halted. Ah Beng has now come to you for advise as he has been informed that Ioninc Ltd shares are now worthless and that the company will soon be wound-up. REQUIRED:Can Ah Beng take action against any one or more persons with regard to his loss? Explain. (8 marks) QUESTION TWO Dinosaur Rocks Pte Ltd (Dinos aur Rocks) is a family company whose two shareholders and directors are Fred and his wife, Betty. They live in a house in Pasir Panjang owned by the company. The company owns a business of supplying rocks and sand to construction companies. In August 2011, Fred borrowed $1 million from U-O-Me Bank. The loan was secured by a mortgage charge over the Pasir Panjang property owned by Dinosaur Rocks.The loan was to be used by Fred for personal expenses. According to the articles of association, the mortgage/charge document was to be executed by way of affixing the common seal in the presence of two directors as witnesses. Fred signed the document as witness but he also forged Bettyââ¬â¢s signature. By early January 2012, Fred had defaulted on his last two loan repayments. It has since emerged that Fred had skipped the country with the $1 million in October 2011 and is now purportedly living the high life in the Maldives.U-O-Me Bank has started proceedings to enforce the mortgage/charg e against the Pasir Panjang property owned by Dinosaur Rocks. Betty comes to you for advice. She is more distressed about losing the Pasir Panjang property than losing Fred and does not want to vacate the house which she will have to when the Bank sells the property. REQUIRED: Advise Betty as to whether the mortgage/charge is valid and enforceable against the company. (8 marks) QUESTION THREE (Separating of legal entity concept, Lifting of corporate veil and evasion of legal obligations, case GM v Horne, Jones V Lipman fraud.Re Darby. Solution is to lift the veil and consider Athena and Grecian as one. Each is liable for the acts of debts of the other. Athena is a hair-dresser. Two months ago, she agreed to sell all the hair-dressing machines and supplies in her salon in Bukit Timah to Hera as she was moving to a new business location in Orchard Road. The purchase price was to be paid three months later whereupon Athena would deliver all the goods to Hera. Athena was intending to bu y new machines and supplies for her new salon but a month ago, her application to obtain a bank loan was not approved.Needing equipment and supplies at the Orchard Road location, Athena registered a company called Grecian Pte Ltd (Grecian) with herself as the sole director and member last week. She immediately moved all the machines and supplies from her Bukit Timah salon to the new Orchard Road location of Grecian. Athena then told Hera the deal was off as she no longer owned the machines and supplies. Hera wants the machines and supplies as agreed under the contract as the machines are identical to the ones in her own salon. REQUIRED: Advise Hera. (6 marks) QUESTION FOURWhen incorporated in January 2010, the memorandum and articles of association of Coffee Addict Pte Ltd (Coffee Addict) contained the following clauses:- 1. The objects of the company is the import and supply coffee beans to retail outletsin Singapore; 2. 3. Gloria is to be employed as the sales manager of the compa ny for a period of five years at an annual salary of $100,000. In January 2012, Coffee Addict entered into a joint-venture agreement with Jean Ltd to build a row of ten shops in Clementi Road. Both parties are to inject $2 million each into the project.Also in January 2012, the Board of Directors of Coffee Addict resolved to terminate Gloriaââ¬â¢s appointment as the sales manager. REQUIRED: a) Is the contract with Jeans Ltd a valid contract since it is contravenes the objects clause. Explain. (4 marks) b) Can Gloria prevent her removal as sales manager? Would it make any difference if she is also a shareholder? Explain. (4 marks) Total: 4 + 4 = 8 marks QUESTION FIVE Potterfied Ltd ( Potterfied) has its own set of articles which entitles preference shareholders to an annual dividend of ten cents per share.The Board of Directors of Potterfield wanted the articles amended so that the dividends are to be reduced to four cents per share and last week, persuaded more than half of the m embers to pass a resolution at a membersââ¬â¢ meeting to the effect. The members were also told that there was nothing they could do as long as the majority of all shareholders agreed to the change. Harriet is a preference-shareholder who voted against the amendment to the articles at the membersââ¬â¢ meeting last week. REQUIRED: Advise Harriet. Assupmtion that this variation of class rights affects all preferences shareholders rights to receive dividentds of 10cent per share, S74(1) applies. If 5% or more of shareholders dissent then can apply to court to stay the resolution to change the article until and unless the court confirms it, the change is ineffective. ) (6 marks) QUESTION SIX REQUIRED: Discuss the validity of the following statement: ââ¬â¢ The Privy Council in the case of Lee v Leeââ¬â¢s Air Farming Ltd did not apply the principle set out in Salomon v Salomon & Co Ltd. ââ¬â¢ (4 marks) *Separating entity was applied Singapore Company Law SAMPLE ONLY MID-SEMESTER TEST COURSE:LAW2464 COMPANY LAW DATE:17/03/2012 TIME ALLOWED:1 hour 40 minutes (including 10mins reading time) QUESTION (Prospectus Topic) In July 2011, Ah Beng was at his accountantââ¬â¢s office to talk about taxation matters. Whilst there, his accountant gave him a prospectus issued by Ionic Ltd. , a company listed on the Singapore Stock Exchange, to take home to read and if interested, to follow the instructions about investing in new shares in the company which were to be quoted on the Exchange.After reading the prospectus, Ah Beng was convinced that he was going to make a lot of money investing in the company which had stated that it had discovered a huge gold deposit in Western Australia. The prospectus contained a report by a geologist which stated that the gold was near the surface and therefore, easily mined. The prospectus also contained estimations of the amount of profits which it could make based on the current high price of gold. (False and/o r Misleading Statements) Criminal Lability Under S253(Jail and/or fine company is liable if it is an entity. Directions are liable.Statements are materially adverse from viewpoint of investors including Ah Beng. Who else is liable? The Accountant? No advice or false or misleaeding statement. Did he act intentionally or recklessly? No. No Lability. Could Geologist be liable? Yes, as his a conman. Actions were intentional. S254 Civil Lability Directors liable any defences under s255 SFA? Any defences under s255 SFA? Reasonable reliance on geologist, reports is reliance here reasonable. He is a conman. Not reasonable. Inquries Defence, May fail. Geologist liable to compensate no defence. Accountant assuming he made statements.Yes, if not. No. Ah beng will receive compensation for his loss. ALTERNATIVE Misrepresentaton. False Statement Made during negotiation that induces one into contract Geologist is dishonest and fraudulent misrepresentation. Recession of contract of sale of shares a nd damages for the tort of deceit. After applying for the shares, Ah Beng was issued 50,000 shares at the price of $1. 00 per share in September 2011. In January 2012, the local newspaper published an article about the arrest of a geologist in Western Australia who was claiming discovery of mines which turned out to be non-existent.A week later, news broke out that the arrested conman was the geologist whose report was contained in the Ionic Ltdââ¬â¢s prospectus and there was actually a very small deposit of gold very deep in the ground which would make any mining a loss-making venture. The price of the shares in Ionic Ltd immediately plunged and trading in the shares had to be halted. Ah Beng has now come to you for advise as he has been informed that Ioninc Ltd shares are now worthless and that the company will soon be wound-up. REQUIRED:Can Ah Beng take action against any one or more persons with regard to his loss? Explain. (8 marks) QUESTION TWO Dinosaur Rocks Pte Ltd (Dinos aur Rocks) is a family company whose two shareholders and directors are Fred and his wife, Betty. They live in a house in Pasir Panjang owned by the company. The company owns a business of supplying rocks and sand to construction companies. In August 2011, Fred borrowed $1 million from U-O-Me Bank. The loan was secured by a mortgage charge over the Pasir Panjang property owned by Dinosaur Rocks.The loan was to be used by Fred for personal expenses. According to the articles of association, the mortgage/charge document was to be executed by way of affixing the common seal in the presence of two directors as witnesses. Fred signed the document as witness but he also forged Bettyââ¬â¢s signature. By early January 2012, Fred had defaulted on his last two loan repayments. It has since emerged that Fred had skipped the country with the $1 million in October 2011 and is now purportedly living the high life in the Maldives.U-O-Me Bank has started proceedings to enforce the mortgage/charg e against the Pasir Panjang property owned by Dinosaur Rocks. Betty comes to you for advice. She is more distressed about losing the Pasir Panjang property than losing Fred and does not want to vacate the house which she will have to when the Bank sells the property. REQUIRED: Advise Betty as to whether the mortgage/charge is valid and enforceable against the company. (8 marks) QUESTION THREE (Separating of legal entity concept, Lifting of corporate veil and evasion of legal obligations, case GM v Horne, Jones V Lipman fraud.Re Darby. Solution is to lift the veil and consider Athena and Grecian as one. Each is liable for the acts of debts of the other. Athena is a hair-dresser. Two months ago, she agreed to sell all the hair-dressing machines and supplies in her salon in Bukit Timah to Hera as she was moving to a new business location in Orchard Road. The purchase price was to be paid three months later whereupon Athena would deliver all the goods to Hera. Athena was intending to bu y new machines and supplies for her new salon but a month ago, her application to obtain a bank loan was not approved.Needing equipment and supplies at the Orchard Road location, Athena registered a company called Grecian Pte Ltd (Grecian) with herself as the sole director and member last week. She immediately moved all the machines and supplies from her Bukit Timah salon to the new Orchard Road location of Grecian. Athena then told Hera the deal was off as she no longer owned the machines and supplies. Hera wants the machines and supplies as agreed under the contract as the machines are identical to the ones in her own salon. REQUIRED: Advise Hera. (6 marks) QUESTION FOURWhen incorporated in January 2010, the memorandum and articles of association of Coffee Addict Pte Ltd (Coffee Addict) contained the following clauses:- 1. The objects of the company is the import and supply coffee beans to retail outletsin Singapore; 2. 3. Gloria is to be employed as the sales manager of the compa ny for a period of five years at an annual salary of $100,000. In January 2012, Coffee Addict entered into a joint-venture agreement with Jean Ltd to build a row of ten shops in Clementi Road. Both parties are to inject $2 million each into the project.Also in January 2012, the Board of Directors of Coffee Addict resolved to terminate Gloriaââ¬â¢s appointment as the sales manager. REQUIRED: a) Is the contract with Jeans Ltd a valid contract since it is contravenes the objects clause. Explain. (4 marks) b) Can Gloria prevent her removal as sales manager? Would it make any difference if she is also a shareholder? Explain. (4 marks) Total: 4 + 4 = 8 marks QUESTION FIVE Potterfied Ltd ( Potterfied) has its own set of articles which entitles preference shareholders to an annual dividend of ten cents per share.The Board of Directors of Potterfield wanted the articles amended so that the dividends are to be reduced to four cents per share and last week, persuaded more than half of the m embers to pass a resolution at a membersââ¬â¢ meeting to the effect. The members were also told that there was nothing they could do as long as the majority of all shareholders agreed to the change. Harriet is a preference-shareholder who voted against the amendment to the articles at the membersââ¬â¢ meeting last week. REQUIRED: Advise Harriet. Assupmtion that this variation of class rights affects all preferences shareholders rights to receive dividentds of 10cent per share, S74(1) applies. If 5% or more of shareholders dissent then can apply to court to stay the resolution to change the article until and unless the court confirms it, the change is ineffective. ) (6 marks) QUESTION SIX REQUIRED: Discuss the validity of the following statement: ââ¬â¢ The Privy Council in the case of Lee v Leeââ¬â¢s Air Farming Ltd did not apply the principle set out in Salomon v Salomon & Co Ltd. ââ¬â¢ (4 marks) *Separating entity was applied
Saturday, September 28, 2019
All the World’s a Stage, the Dramaturgy
All The Worldââ¬â¢s a stage ââ¬Å"All the world's a stage, And all the men and women merely players. They have their exits and their entrances; And one man in his time plays many partsâ⬠Shakespeare. Although Shakespeare wasnââ¬â¢t a sociologist, I think this quote profoundly sounds like Ervine Goffmanââ¬â¢s ideas of dramaturgy and impression management. I agree with both Shakespeare and Ervine. We all have a part to play in this world and we do play it. To me Ervine Goffmanââ¬â¢s ideas about self and dramaturgy are the most applicable social ideas in my own life.He believed we do something called impression management. I have actually noticed myself using impression management every day. I have also noticed that in sociology we really need to understand face to face interactions of individuals to understand a society as a whole. He also believed in a concept called symbolic interactionism. He believed that social interactions are what make someone who they are. I b elieve that to understand his ideas better it is imperative that you know a little about him. Goffman was born June 11, 1922(Blackwood, 2011) to a Jewish Ukrainian couple in Canada.Initially, he received his bachelors in sociology at the University of Toronto. Then he went to the University of Chicago to achieve his masters and doctorate. Chicago was the center for many micro-sociologists and symbolic interationists like Goffman. His ideas must have made him fit right in with all the other sociologists studying at University of Chicago. He also studied a year in Shetland and wrote a book called The Presentation of Self in Everyday Life. This is where he refers to the theory of us always being onstage. He then went to Berkley to teach about Sociology and Anthropology (which he also studied).Goffman also went onto to write about his ideas of total institution (the sociology term for somewhere completely blocked off from normal society). He wrote many books over his life time and he re mained a very important man in the sociology world. He ended his writing career going back to address more evidence that we are all performers, he ended on the same note he started on. He passed on November 19th, 1982. ((Blackwood, 2011) Micro-Sociology is the study of a small group of people to understand how society works as a whole.Ervine Goffman advocated this idea and used face-to-face interactions as a basis to understand sociology. I believe that this is a very true idea because without individuals there is no society. I also believe that how we act as individuals is what makes a society how it is. For example as individuals we actually enjoy conflict when the conflicts involves others. In high school I remember that everyone always wanted to stop in the hallway to watch people fight. On a larger scale society watches reality Television shows like ââ¬Å"Bad girls Clubâ⬠just to see these conflicts.Everything we do individually affects us as a society. Another thing that Goffman believed in was how society is what makes us who we are, this is called social interactionism. Yes we make up society but in turn society molds us to who we are as well. For example a child is born completely without morals and values. These things are taught to the child by family and ultimately society. The child is taught killing is deviant and unacceptable. It is also taught that being overweight is a concrete stigma for females of society. Therefore if the child is a girl they will constantly want to be skinny, even at a young age.My Humanities professor was talking about how his 8 year old daughter was called fat the other day in school. Now the young girl will not eat very much. This not something we are born with, these are learned values that society teaches. I have my own personal experience with social interactionism. My whole life society has shaped me to be who I am. Itââ¬â¢s almost like a very subtle, yet powerful, form of peer pressure. For example I think that if it werenââ¬â¢t for the fact that society teaches that you should treat strangers with absolute respect I think I would have had a lot more conflicts with them.Society teaches us to not get as angry with strangers as we do with our own friends and family members. Another thing Goffman believed was an idea called dramaturgy. Dramaturgy is the idea that we all act around people as if we were actors on a stage. He believed that the only time we acted as our true selves was when we are backstage and no one else is around to see us. I believe this is true of everyone in society. Of course there are those who have to act because itââ¬â¢s their job. Politicians, lawyers, servers, parents these people have to put up a facade so that others reactions server their purpose.Not all of this acting is used for selfish purposes though. For example a parent doesnââ¬â¢t want their child to be scared so in a crisis they might smile and tell them everything is going to be all right, e ven if they know itââ¬â¢s not going to be alright. The final point I agreed with Goffman on was an idea called impression management. Impression management is similar to dramaturgy however it is how we are all the time. I use impression management every day. For example I am a server and I have to come off a certain way for my guests to like me or I wonââ¬â¢t make any money.I have to smile even when Iââ¬â¢m stressed and I have to use a completely different voice when addressing my guest than I would use with anyone else. I also have to pretend I like things on the menu I have not even tried. In conclusion, I agree with Goffmanââ¬â¢s theories on dramaturgy, impression management, micro-sociology, and symbolic interactionism. I concur with the fact that society shapes you to be who you are, it has definitely made me who I am. I also think that looking at how individuals interact with each other is imperative in finding out how society works.You cannot understand the big pi cture without first looking at the small details. Impression management is a very important part of my life because itââ¬â¢s how I make a living. Finally dramaturgy is something we all do every day. We are actors on the stage of Society Citations 1. Blackwood, B. D. (2011, July 06). Blackwood. org. Retrieved from http://www. blackwood. org/Erving. htm 2. Travers, A. (1997). Reviewing sociology. Retrieved from http://www. reading. ac. uk/RevSoc/archive/volume10/number1/10-1e. htm
Friday, September 27, 2019
Feminism Short Stories Essay Example | Topics and Well Written Essays - 1250 words
Feminism Short Stories - Essay Example The stories, considered further on, represent social turmoil experienced by women, who lived in the nineteenth century. Thesis: a moral oppression and social bounds imposed on the main characters of Charlotte Perkins Gilman and Nathanial Hawthorne reflect negative impacts caused on physical and emotional condition of women. ââ¬Å"The Yellow Wallpaperâ⬠by Charlotte Perkins Gilman Therefore, we will focus on the ways the main characters from these short stories fought against their oppression. There were different physical and emotional conditions among these women. The first short story ââ¬Å"The Yellow Wallpaperâ⬠by Charlotte Perkins Gilman represents an emotional and moral degradation of the main character of the story. In her intentions, she tries to reveal a woman hiding behind yellow wallpapers of the room. She tries to climb up the wallpapers and at the same time she tries to escape from oppressing reality. This woman is positioned as a ââ¬Å"hysterical womanâ⬠, which means her unusual behavior for the society of the nineteenth century. This woman is able to make some notes in her diary about the oppressing circumstances happening to her life. She is unable to take care of her child and she feels depressed. At the same time, this woman is locked in the room, which was a child room. In her despair she pulls off all the wallpapers: ââ¬Å"I've got out at lastâ⬠¦.and I've pulled off most of the paper so you can't put me back!â⬠(Gilman). At this moment the author shows to us the way her husband faints. In other words, she shows that this man could not remain conscious. He cannot take control over his emotions, the same way like women do. Therefore, his wife maybe is not too weird; she just was oppressed by social stereotypes and behavioral templates. Once she gets rid of these ties, she becomes free. There is much more behind her life and her inner feelings and emotions. Her emotions are oppressed and her inner self experiences de gradation. Nevertheless, she manages to pull all her efforts and direct her power on overcoming the most challenging moments in her life. She makes changes in the room; she releases an imagined woman from the wall and in such a way she releases herself from a ââ¬Å"yellow wallâ⬠or social oppression. She finally manages to cope with her emotional burden and the fact that her husband faints in her face, means that this woman defeats him. Unfortunately, the heroine of another short story does not have so much power. Nathanial Hawthorne, ââ¬Å"The Birthmarkâ⬠In another short story written by Nathanial Hawthorne, ââ¬Å"The Birthmarkâ⬠, Georgiana has a birthmark on her cheek. This imperfect trait makes her husband insane, because he is obsessed with having an ideal wife. The author tells exactly about the most acute problem, oppressing the modern women: their physical ideal form. There is only appearance, which should be followed by a woman. Another factor, determining behavior of Aylmer is his occupation. He is a perfect scientist and he is sure that a man is able to take control over nature. The birthmark on the face of his wife looks like a hand. His husband makes her remove this ââ¬Å"dreadful handâ⬠. He made his life drink the elixir. She dies and the birthmark disappears from her face. He was not focused on love to his wife; he was focused on love to his work. He wanted to make his wife perfect and he reached his goal. The author shows to the readers that Aylmer is a selfish individual. He
Thursday, September 26, 2019
Revising Essay Example | Topics and Well Written Essays - 1250 words
Revising - Essay Example These include logistics, activities prior to the trip, activities during trip and activities following the organized research trip for business students. The study reflects the approach that smaller universities and colleges can take to meet accreditation standards. Getting accredited will help them internationalize their standards and incorporate learning into their curriculum. South Korea has been included as an example to analyze internationalization of the business curriculum. Hofstedes model demonstrates essential differences between United States and South Korea. Traditional cultural practices are witnessed in South Korea and have to be well known by business students. Active learning plays a critical role to enhance problem-solving skills (Sohn, 2006). The case study highlights the importance of including active learning component along with international dimension in a business curriculum in South Korea. There are certain accrediting agencies like Association of Collegiate Business Programs and Schools and Collegiate Schools of Business International, which aims at designing innovative business program. The international dimension outlines importance of diversity or multicultural understanding. Other standards put across by accrediting agencies are a global business dimension where globalization plays an integral role in the business curriculum (Yu, 2010). Another aspect of such curriculum is including problem-solving mechanism as well as active learning skills. Both these objectives could be simultaneously accomplished by focusing on abroad programs for teaching staff and students. However smaller schools lack sufficient funds to incorporate abroad study program for an entire semester. This study is inclined towards an overseas program held in South Korea (Self, 2009). The exchange program to South Korea is divided into various segments such as logistics, trip activities, post-trip
Assisted Suicide Term Paper Example | Topics and Well Written Essays - 2000 words
Assisted Suicide - Term Paper Example This question is of great value to the society as well as health care practitioners. An answer to this problem can be obtained through arguments that are in favor and not in favor of assisted suicide. According to Webster, assisted suicide falls under the umbrella of euthanasia (McDougall, 2008, p.1). The term euthanasia is referred to as good death, this term is mostly used when health care practitioners ends a patient life in order to help him avoid his unbearable sufferings. Euthanasia is divided into two kinds, active and passive euthanasia. Active euthanasia refers to activities conducted to put an end to a patientââ¬â¢s life; it is even recognized mercy killing. Majority of the jurisdictions around the world has pronounced mercy killing as illegal and has even referred to it as murder. Passive euthanasia refers to an act of allowing a patient to die even when there are available procedures to delay the death. Examples of passive euthanasia include instances when patients den y treatments that can delay the death of a patient, this kind of euthanasia falls under the category of natural death. Body Suicide is term used to refer to an individualââ¬â¢s act of taking his/her own life, assisted suicide is a term used to refer to the help that an individual has while he takes his/her own life. In case of assisted suicide, the healthcare practitioner or the person providing care to the patient provides a method to the patient to take his/her own life and the patient himself, willfully adopts the provided method to put an end to his lie and suffering. Assisted suicide can either fall in the category of active or passive euthanasia, whether an act of assisted suicide is active or passive euthanasia depends on the meaning attach to the assistance provided to the patient. Examples: a drug used to take life is prescribed by a doctor to his/her patient while the doctor knows that the patient wishes to put an end to his life, a nurse supplying a medicine to the pat ient and the drug is used can put an end to the patientââ¬â¢s life and a health care practitioner helping the patient in every step of taking his/her own life, steps include: placement of the drug in the patients mouth, and assisting him in swallowing the drug. Pro Assisted Suicide There are various reasons due to which patients opt for assisted suicide rather than bearing the pain before natural death. One of the reasons is the lack of proper care and inhumane activities conducted by the caregivers in health care centers. This means that individuals are not being properly cared for in healthcare centers due to which a patientââ¬â¢s pain increases and they demand for death. Factors that have been proposed that make an individual wish for assisted suicide are threat of being isolated, pain not being cured, depression, threat of loss, feeling of helplessness and concerns regarding family. Another reason that makes individuals wish for assisted suicide is that patients know that they are ultimately going to die even if they use technology and treatment to delay, thus they opt to die rather than being unable to control their death. Due to these disturbing reasons, patients lose hope and accept death as a better alternative. According to the judicial system of US, a patient or an individual (patient) has a right to decide whether they want to live or die, patients in America obtained the right to accept
Wednesday, September 25, 2019
Governments at all levels are increasingly becoming involved in Essay
Governments at all levels are increasingly becoming involved in festivals and events - Essay Example This paper analyses the reasoning and salient pros and cons associated with the involvement of governments in encouraging events. Government is a set of institutions which Edward Sildow and Beth Henschen (2008, p.4) defined as ââ¬Å"the individuals and institutions that make societyââ¬â¢s rules and that also possess the power and authority to enforce those rules." Thus, it can be established that government possesses the ultimate power to influence public, and to impose such rules that are in the best interest of society. Today, governments are increasingly becoming interested in promoting events because these act as a catalyst that has an enormous ââ¬Å"social, economic and cultural impactâ⬠(Smith, 2003). This explains that governments are now trying to garner international attraction through hosting local and mega events and basically eyeing on the aspect of economic and monetary profits. For instance, the UK government realised the impact of facilitating events on the c ountryââ¬â¢s economy and has supported the private sector on the reconstruction of new and bigger venues since 70s. The outcome has been in the form of some international standard sites such as the National Exhibition Centre (Birmingham) and Wembley Centre (Bowdin et al, 2012). This was also the main reason behind Prime Minister Tony Blair's strong support to the organisation responsible for holding Olympics 2012, ââ¬Å"London Organising Committee of the Olympic Games and Paralympic Games," (LOCOG), during the bidding ceremony in 2005. Through ramping up the investments from private sector, governments seek long-term benefits for the whole country and in a variety of spheres. However, it must be acknowledged that it is not the government only that enjoys the benefits involved, but the private sector has another set of interests that is sought through events. The diversity in festivals such as Hallmark and mega-events is an outcome of the governmentââ¬â¢s involvement. Today, e vents are of various categories with varying prospects. These include business events like meetings, incentives, conventions, and exhibitions, in short MICE. Regional events are cultural or sports related and are organised every year. Every calendar event is a nationââ¬â¢s local festival such as Football or Rugby League matches, or religious/traditional celebrations such as Holi or Diwali in India. Hallmark events represent the customary festivals of a nation and mark an important historical event or anniversary. For instance, the event celebrated in South Africa of ââ¬Å"10 Years of Democracyâ⬠in 2004 (Damster & Tassiopoulos, 2006). Mega-events such as Olympics, FIFA world cup or ICC Cricket World Cup; Tennis tournaments like Wimbledon and Common Wealth games, are not annual events and are held in a different part of the world by a particular organisation. Every government has its own specific motive behind pursuing and promoting events, and it can be entitled as an intel ligent strategy. For example, the motive of China's government has been different in comparison to UK because their main focus was on improving economic conditions through promoting travelling and locally prepared Chinese products. Chinese government did not just focus on mega events, but created newer holidays and altered the scale of traditional ones for achieving their goal. The transformation of three
Tuesday, September 24, 2019
Companies analysis Essay Example | Topics and Well Written Essays - 750 words
Companies analysis - Essay Example The company offers Kangaroo -TV, a medium for targeted advertising, merchandising, market surveying, and branding1. The recent history of the company shows that it has continued making losses and its share prices have dipped to CAD 0.49 (January 11, 2008: close) - an all time low. The 52 week high is recorded at $3.86 as recently as on December 2, 2007 - a drop of 87% in 17 trading sessions. The plunge thereafter is not surprising, as the stock has found its rational floor from an all time high of $7.65 on May 12, 2006. The rapid fall is despite the news emanating from the company in recent times: The share price movement indicates no connection with stock market indices; with a beta of -0.17 compared with the S&P Index. None of the other indicators like PE, Ask-Bid gap throw up any relevant numbers for analysis. Any investment in this share can only be based on a gut-feel. Technology employed by the company is unique and has good market potential. The only reason for holding this stock is the likelihood of a takeover by a larger and financially stronger company - then too the new company is not likely to offer a very high price to shareholders in case of an aggressive takeover. This stock is useless for prudent portfolio management. Any stocks held should be sold at the best possible price. World Point Terminals, Inc. ... They provide storage, blending, and transportation of crude oil, refined petroleum products, and other liquids to their customers. The company's center point terminals store residual oils, such as liquid asphalt and heavy fuels; and lights oils, such as gasoline, diesel, and heating oil. It also provides crude oil storage services through its south riding point terminal facility. In addition, the company, through a joint venture, operates a fleet of tugs providing marine services5. The company was founded in 1942. The company's stock performance has been good. Some of the key performance indicators are: PE ratio of 21.2, EPS $7.80; 52-week high $26.50; 52-week low $13.68 and present price $15.00 (January 9, 2008 close). We observe that the movement of the stock take place in a narrow band and is mostly linked to the S&P Index as indicate by a beta of 0.966. Some of the key developments announced by the company in recent times are: Financial Reports for the third quarter and nine months ended June 30, 2007 reported7. World Point Terminals Inc. Announces Earnings Results for the First Quarter Ended March 31, 2007 World Point Terminals Declares Extraordinary Dividend Payable on December 15, 2006 The latest financial report is heartening for the investor and performance on all fronts has been good. Net profit margin is up to 30.51% for the quarter and 28.65% for the first nine months as compared to 24.41 for 2006. Return on equity is up from 10.07% in 2006 to 25.35% for the quarter; the year to date return of 11.98% reflects the temporary setbacks the company had in the first six months and it appears to be emerging out of its troubles. The extraordinary dividend (the
Monday, September 23, 2019
College is a Waste of Time and Money by Caroline Bird Essay
College is a Waste of Time and Money by Caroline Bird - Essay Example The paper tells that the views and structure of the article ââ¬Å"College is a Waste of Time and Moneyâ⬠by Caroline Bird are truly bound to their senses having conveyed in the authorââ¬â¢s statement ââ¬Å"college is the dumbest investment you can makeâ⬠. That should suffice to proceed without contesting the majority in the general public who would at any time be disposed to argue ââ¬Å"that is downright true and how can a regressed economy running scarce with job creators ever address the fresh yields of the academe, the new brood of the first-time bloodthirsty job hunters?â⬠However, while Bird commits to this type of sentiments in her period which are presently felt as well and expresses sold-out support for the abolition of college, does it ever occur to her to ponder on how the world would look with money-driven human beings who act, talk, treat, and think like some crazy engine for dough all the time? For one, having thought ahead of the possible scenarios with that and what the author would most likely feel about each of them, he is rather afraid of acquiring much trouble in coping with that kind of future Bird insists in her sphere of change and investments. Apparently, she is quite significantly concerned with the keen reality experienced via the inverse proportionality that exists between finishing college and the hard-to-settle issue of unemployment than the core essence of tertiary education itself. Perhaps we ought to guide her perception to veer off at examining and modifying the curriculum instead of rationalizing ââ¬Å"If high-school graduates donââ¬â¢t want to go, or if they donââ¬â¢t want to go right away, they may perceive more clearly than their elders that college is not for themâ⬠in a tone of complaint. The concept of further education is never unwise and if our main problem lies on the reluctant attitude of most 18-year-olds toward college, this can be neutralized or put to balance by focusing on the man ner educators are supposed to work on tools or techniques of fostering a stimulating atmosphere for the students. We can opt herein to find hope and realize that exploring beyond the conventional academic realm enables studying individuals to learn the remarkable key to versatile potentials and thereby gain opulent interest on succeeding with the targeted growth in both professional and economic goals as they stay in school prior. Bird primarily communicates her findings that ââ¬Å"A great majority of our nine million college students are not in school because they want to be or because they want to learn ââ¬â They are there because it has become the thing to doâ⬠(1975). Of course, we have widely known the ever-prevailing behavior among youth in transition from secondary level as such since we have gone through the stage and somehow managed to comprehend all the frailties and unpleasant feelings thereof. This we can acknowledge, nevertheless, as a normal phase of life where immaturity inevitably combines with confusion and curiosity due to the so-called ââ¬Ëidentity crisisââ¬â¢ which naturally places a young person to a state of random inquisition, denial, rebellion, and repulsion of moral discipline. Whether in and out of the academe, this condition lives as a fact and may not be prevented from happening so it would be irrational to tolerate the reasoning that college alone is responsible ju st because the 18-year-olds are being forced into a challenge or something they are not prepared yet considering which, they must thus be allowed the freedom to decide for themselves as Bird proposes. After conducting scholarly studies and interviews, Bird is eventually brought to conclude that ââ¬Å"students are sad because they are not needed ... there is no room for so many newly minted 18-year-olds ââ¬â
Sunday, September 22, 2019
The first submission Essay Example for Free
The first submission Essay A1 ââ¬Å"I gave an introduction discussing what capital structure is and how it relates to debt vs. equity financing and what maximizes shareholder return and what the goal of the company is in choosing a capital structure approach. I then made my recommendation discussing all approaches for all years using a table with earnings per share in each year for each approach and totaling them up to make my recommendation. (This was discussed and told to us in the webinar as the method so I am just repeating what was said). I then made my recommendation referencing the table, explaining why it maximizes shareholder return *****always refer to actual numbers.â⬠A1aââ¬Å"I justified my recommendation by talking about how the other approaches were not maximizing shareholder return and why, referencing the outcomes and what was causing their earnings per share to be lower Talk about all of the other approaches and reference the actual numbers. I repeated my recommendation at the end to sum it up.â⬠A2 ââ¬Å"I gave an introduction describing capital budgeting, net present value, and internal rate of return, and referenced things from the Storyline that were applicable to this section in a paragraph describing the background of the scenario (what was going on with company). I then discussed NPV and IRR in individual sections where I referenced all of the numbers and told what they meant about whether or not the company should pursue the project. I gave brief explanation of how the numbers were calculated. At the end of each section for both IRR and NPV I made a recommendation about whether or not to pursue the project based on the NPV and IRR results in the spreadsheet.â⬠A3 ââ¬Å"I began by discussing the background from the storyline (why they needà working capital, how much they need) I then gave 3 ways the firm can obtain working capital. I then discussed 3 ways to properly manage working capital.I was told in the webinar to think about the accounts that make up working capital. I then discussed Lease vs. Buy. I started by giving the background from the storyline. It is supposed to be approached from the standpoint of which one BEST preserves working capital (on the task directions) I explained how they arrived at the numbers on the spreadsheet (A good resource to understand where all the numbers came from and how they were calculated is Buy or Lease? Commercial Property Decisions from recenter.tamu.edu website. I then told which one they should do based on which one better preserves working capital (from task directions). If you are confused just think about how WC is calculated.. I referenced numbers, years, etc all steps of the way.â⬠A4 ââ¬Å"I told what a merger is what earnings per share means and what the merger was saying about EPS and how it would affect shareholder returns. I told what an acquisition is what the NPV of the acquisition is and what that means. Always referencing the numbers. I then made a recommendation based on EPS in the merger before and after and NPV of the acquisition. This information comes from the webinar I am just repeating it.â⬠ââ¬Å"I hope my explanation of my method and tips from the webinar help, Timothy.â⬠Timothy Minyard, Student, July 2014. A1 and A2 ââ¬â Low and Moderate Sales and Calculations ââ¬Å"Hello, when completing the first two task prompts, is it necessary to analyze both the low and the moderate outcomes? For example, on the Capital Structure tab it gives you the moderate EBIT to use, are we expected to enter the low as well? Also, on the Capital Budgeting tab, do we discuss both scenarios of low and moderate planning?â⬠ââ¬Å"Task 3 A1, use only the moderate demand. A2, Capital Budget analyze both low and moderate demands.â⬠Dr. Cherry, CM, July 2014 A2 ââ¬â Internal Rate of Return as listed on Spreadsheet ââ¬Å"On the spreadsheet (Task 3 Capital Budgeting Tab) the Internal Rate ofà Return projections are listed for both low and moderate sales and then below is a IRR percentage. Yours could be different but my percentages are 8.7% and 10.1%. Are these percentages directly tied to the numbers above them or are they thresholds? If they are NOT thresholds, where do I find good suggestions for an appropriate threshold for IRR?â⬠ââ¬Å"10%. It is listed in the storyline.â⬠Dr. Cherry, CM, August 2014 A3 ââ¬Å"I am unable to find information or chapters on Lease vs. Buy. Any assistance would be appreciated.â⬠ââ¬Å"There is a SkillSoft titled Managerial Decisions and Capital Budgeting that has a section on Lease or Buy Decisions and Make or Buy Decisions. You can find it under the Financial Analysis Course Materials for The Best Structure and Use of Capital section.â⬠Adrian Thompson, Student, June 2014. A3Question I find this part of Task 3 to be misleading. The task states: Discuss how working capital can be properly obtained and managed for the Canadian expansion. The discussion should consider the lease-versus-buy analysis (Spreadsheet tab: Task 3_Lease vs Buy). This, to me, is asking how can we obtain working capital for the Canadian expansion? Then when I look at the Task 3 Lease vs Buy spreadsheet, it says The $200,000 in working capital and $50,000 down payment would have to be internally funded. This I feel is telling me that the working capital has to be internally funded. Therefore, for the question A3, I answered how the company can internally fund working capital in order to expand into Canada. I got it returned to me for However, other ways to obtain working capital, besides internal generation, should also be discussed. Sorry, I just needed to vent. This is the 2nd time Ive had this task returned and this one frustrated me. I am really struggling with understanding the lease vs buy option. Ià submitted my task and received the following response from the Grader The submission provides a good discussion of how to properly obtain and mange working capital for the Canadian Expansion. The recommendation to lease is presented; however, to fully support the decision an evaluation of the PV of outflows should be considered. What am I missing and what should I focus on. Should I be discussing that one yielding the higher NPV should be selected? Any thoughts and comments would be greatly appreciated.â⬠ââ¬Å"In the lease vs buy scenario, we discussing cash outflows, so you would want to select the option that will cost the company the least amount of working capital.â⬠Dr. Cherry, CM, august 2014 A3 Lease vs Buy ââ¬Å"I have a question on the financial information tab for Lease vs. Buy. The after tax cash flows for the lease option are $58,500 each year and Im wondering how we would arrive at this number? The storyline states that the five-year lease would entail payments of $90,000 each year for 5 years. It seems a stretch that the after tax cash flows would go all the way down to $58,500 from $90,000. Can anyone shed some light on this for me? Thanks!â⬠ââ¬Å"$90,000 * (1 tax rate) = $90,000 * .65â⬠Dr. Cherry, CM, August 2014 A4Allocation of Overhead As we consider the merit of opening or acquiring a Canadian operation, should we be concerned with the allocation of overhead and shared services, such as Executive Comp and some aspects of shared services such as A/P and A/R salary costs? Without these allocations, the US operations will carry the whole burden. James Crowe, July 2014 ââ¬Å"When considering the merger vs acquisition, first analyze the two projects to determine if both are financial viable. If so, then continue on with qualitative pros and cons.â⬠Dr. Cherry, CM, July 2014
Saturday, September 21, 2019
Debate on a GP Fee Policy
Debate on a GP Fee Policy Essay Question: What do you think about the prospect of a $5 fee to see a GP? The topic of a $5 patient co-payment for GP visits is an ongoing debate that is currently being argued from individuals to health care providers. Under this proposal, pensioners and concession card holders are exempted, and families are allowed 12 bulk billed visits before co-payment applies. So, why would the government slug patients with a $5 co-payment for GP visits? The Australian Centre for Health Research (ACHR, 2013) claims that by implementing this proposal, the government would save an approximate $750 million over 4 years and that the co-payment proposal would: Reduce avoidable demand for GP services Reduce incentives for GPs to over-service Remind people GPs are not free Reduce moral hazard risk by making people consider visiting a GP for minor ailments Remind people that maintaining good health is an individualââ¬â¢s responsibility However in order to take a stance, it is important to first understand Health. Should Health be a right, or is it a privilege? If Health is a privilege, health insurance would only support emergencies and not day-to-day healthcare maintenance, which would be detrimental to those in financial hardship (J L. Marshall, 2011). Hence, Health should be a right, a right ââ¬Å"based on need and not the ability to payâ⬠, where everyone can have equal accessibility and treatment to health care, which is why the $5 co-payment should not proceed (Public Health Association Australia, 2011). Expenditures and efficiency So why does the government intend to cut expenses from the health sector through a co-payment? Are we spending too much? According to the Australian Institute of Health and Welfare AIHW (2013), total health care expenditure in 2011-2012 amounted to $140.2 billion, which is 7.6% higher compared to the previous year (AIHW, 2013). Since GP visits are covered by Medicare, which is funded by the Government and through a levy, GP visits would be included in this $140.2 billion. However, it was reported that the total Medicare expenditure was $16.3 billion in 2010-2011, ââ¬Å"totalâ⬠meaning that it included GP visit along with various services covered by Medicare Benefits Schedule ââ¬â MBS (Australian Government ââ¬â Department of Human Resources, 2011). Thus, it is reasonable to consider that Medicare is only a small portion of the total expenditure. According to The Organisation for Economic Co-operation and Development (OECD), Australiaââ¬â¢s health expenditure stands at $3800 per person, which is 8.9% of the Gross Domestic Product ââ¬â GDP. In comparison, USAââ¬â¢s health expenditure per capita was $8508 per person, or 17.7% of GDP. Does this perhaps mean that life expectancy in USA is better due to the extra cost to health care? This does not seem to be the case, but rather statistics demonstrates that the highly privatised health care system is inefficient as shown in Figure 1. From Figure 1, by comparing USA to Australia or Canada, it shows that USA has a slightly lower life expectancy, but the health spending is almost double the figures of Australia and Canadaââ¬â¢s. It should be noted that both Australia and Canada have universal health care systems in contrast to the privatised health care in USA. Given that a privatised system is evidently less efficient but yet costs more for individuals, would it then be wise to implement the co-payment, a move seen by many as a means to slowly ââ¬Å"dismantleâ⬠Medicare (C King, 2014)? According to Catherine King (2014), the government would reduce expenditure for healthcare by means testing Medicare, but Australians will have to carry the tab. Means testing access to primary healthcare will lead to greater privatisation, which will restrict access to GPs for most Australians, more so on older people, the vulnerable ones in our population and families with children (C King, 2014). King (2014) states that ââ¬Å"GPs are the cheapest within health systems, experts at diagnosis and able to detect potential health issues in their infancyâ⬠. Thus, if GPs are restricted, people would end up in hospitals, the expensive side of the health care system, increasing the expenditure rather than saving. Reduce avoidable demand for GP services Besides the intention of cutting costs for health care, one of the reasons provided by the ACHR for the co-payment proposal was to reduce avoidable demand (over usage) of GP services. However, the solution to this issue would not be to introduce a $5 co-payment for GP visits, as there are concerns that the co-payment would ââ¬Å"jeopardise equitable access to clinically appropriate healthcareâ⬠(J Swan, 2013). This can be explained with a few questions by considering the targeted audience and the effects of the solution: According to J Swanââ¬â¢s article ââ¬Å"John Glover voices fears GP fee will make poor sufferâ⬠(2013), Professor Glover, who led Australias most detailed analysis on the relationship between a persons wealth and their willingness to visit a doctor, states that there is ââ¬Å"very strongâ⬠evidence that poorer people are already under using healthcare in proportion to their level of illness. Through his analysis, it is shown that only 5% of residents who lives among Sydneyââ¬â¢s wealthiest neighbourhoods ââ¬â Mosman, Woollahra and Hunters Hill, claimed they had delayed medical consultation due to financial issues. In contrast to less wealthy areas, Penrith had 13.5%; Nambour 23.4% and Ballarat had 17.9% residents claiming they would delay visiting doctors due to cost. From these statistics, it is clear that the poor would be most affected. John Glover, director of the public health information development unit at the University of Adelaide describes that the $5 co-payment for doctor visits would ââ¬Å"discourage the wrong group of people from visiting the doctor while doing nothing to dissuade those who are already over using GP servicesâ⬠(J Swan, 2013). The co-payment would cause those likely to get seriously ill to unreasonably avoid preventative care which is a step towards reducing what we have as a universal healthcare system privatisiation (J Swan, 2013). Disadvantage to certain group of people (delay seeking medical help) Would the $5 co-payment disadvantage certain groups of people? The co-payment would have dangerous consequences for the poorest and sickest This then comes down to the issue of cost and equity. Health Program director of Grattan Institute, Stephen Duckett states that ââ¬Å"In the healthcare system theres a trade-off between costs and equity, the government might save money in the short-term at the cost of equity, but Emergency departments would soon fill up with patients delaying to visit GPsâ⬠(J Swan, 2013). Clogging up ED (caused by delay in seeking aid from primary health care) Potentially preventable hospitalisations (PPH) have been defined as those hospitalisations which could have been avoided with access to quality primary care and preventative care. Rates of PPH for selected conditions, such as chronic conditions and vaccine preventable conditions are being used nationally and internationally as an indirect measure of problems with access to care and effective primary care. In contrast it is well established that hospital admissions can be prevented by primary care. Australian data show that there are around 33 hospitalisations per 1000 people per year or 10% of hospitalisations could be prevented by effective primary care5. These primary care preventable hospital admissions are increasing in recent years. The ACHR report suggests that the introduction of a co-payment will reduce all GP attendances, both those regarded as necessary, and those that are perceived as unnecessary1. There are inadequate data to know how this will affect hospital admissions. However, the co-payment may increase rather than reduce overall government health expenditure. I support the reasoning provided by ACHR for the introduction of co-payment to remind people that maintaining good health is an individualââ¬â¢s responsibility, which requires investments in comprehensive primary health care (Public Health Association Australia (2011). I also support the overall aim that health care expenditures must be properly managed, to ensure an accessible, equitable, safe, effective and efficient health service provision (Public Health Association Australia, 2011). However, introducing co-payments for GP visits is just one of many solutions available to reduce Health expenditures. Is it a good solution for the reasons provided by ACHR? In my opinion, I do not think it is a good solution. The co-payment would disadvantage the poor, ill and families with children greatly. It is an inefficient method not only to increase health care funding, but ineffective mechanism for reducing demand. The introduction of a co-payment for GP visits is a regressive move toward s a privatised system. Given that a privatised system has been shown to be inefficient, ââ¬Å"means testing and privatisation would only spell the end of Medicare and itââ¬â¢s not how the government should manage health expenditureâ⬠(C King, 2014). It is my belief that this proposal has been inadequately investigated and more research would reveal better options to constrain health expenditure while encouraging individual responsibility for health. If further investigation are to be carried out, I would strongly recommend the government look into the management of successful countries with universal health care system such as Canada; or they could make slight adjustments to the Medicare levy, which would help increase health funding as well. References: Jonathan Swan (2013, December 31). ââ¬Å"John Glover voices fears GP fee will make poor sufferâ⬠. Retrieved 13 March 2014, from http://www.smh.com.au/federal-politics/political-news/john-glover-voices-fears-gp-fee-will-make-poor-suffer-20131231-304go.html#ixzz2p8w8aZ3vAs Australian Centre for Health Research (2013, October 18). ââ¬Å"A PROPOSAL FOR AFFORDABLE COST SHARING FOR GP SERVICES FUNDED BY MEDICAREâ⬠Retrieved March 18, 2014, from http://www.cormorant.net.au/images/18%20oct%202013%20achr%20gp%20copayment%20paper%20final.pdf Sue Dunlevy (2013, December 29). ââ¬Å"Health groups fear $5 GP will hit hospital emergency departmentsâ⬠. News Corp Australia Network. Retrieved 18 March 2014, from http://www.news.com.au/lifestyle/health/health-groups-fear-5-gp-fee-will-hit-hospital-emergency-departments/story-fneuz9ev-1226791543887 John L. Marshall (2011, February 3). ââ¬Å"Is Healthcare a Right or a Privilege?â⬠. Retrieved 20 March 2014, from http://www.medscape.com/viewarticle/736705 Public Health Association Australia (2011, September). ââ¬Å"Policy-at-a-glance ââ¬â Primary Health Care Policyâ⬠. Retrieved 20 March 2014, from http://www.phaa.net.au/policyStatementsInterim.php#p Australian Institute of Health and Welfare (AIHW, 2013). ââ¬Å"Health expenditure Australia 2011ââ¬â12â⬠. Health and welfare expenditure series no. 50. Cat. no. HWE 59. Canberra: AIHW. Australian Government ââ¬â Department of Human Resources (2011, July 8). ââ¬Å"Medicare Australia Annual Report 2010-11â⬠. Retrieved 25 March 2014, from http://www.humanservices.gov.au/spw/corporate/publications-and-resources/annual-report/resources/1011/medicare-australia-annual-report-2010-11-full-report.pdf OECD (2013). ââ¬Å"Health at a Glance 2013: OECD Indicatorsâ⬠. OECD Publishing. Retrieved 5 April 2014, from http://dx.doi.org/10.1787/health_glance-2013-en Catherine King (2014, February 24). ââ¬Å"GP co-payment would man the end of Medicareâ⬠. Retrieved 7 April 2014, from http://www.alp.org.au/gp_co_payment_would_mean_the_end_of_medicare What are the equity arguments against the proposal? Unfair to poor and frequently ill people What are the literatures from overseas on this topic? Supporting evidence: University of Adelaide expert on health inequality Professor John Glover Report: The cost of care One in seven Australians has delayed seeking medical help because of cost, with Queenslanders more than twice as likely to find cost a barrier than people in NSW. Increased Ambulatory Care Copayments and Hospitalizations among the Elderly Amal N. Trivedi (M.D., M.P.H) increasing the patients share of the cost for ambulatory care may not reduce (or may even increase) total health care spending and may result in worse health outcomes. Elderly patients may be particularly sensitive to cost sharing because they have lower incomes, are more likely to be in poor health, and have greater out-of-pocket spending on health care than nonelderly populations In conclusion, increasing copayments for ambulatory care reduced the use of outpatient care among elderly enrollees in managed-care plans, but this decline was offset by an increase in hospitalizations, particularly among enrollees with low socioeconomic status and those with chronic disease. Increasing copayments for ambulatory care among elderly patients may have adverse health consequences and may increase spending for health care. http://www.nejm.org/doi/full/10.1056/nejmsa0904533#t=articleTop accessed date 13/3/2014 intro (250) para 1 (650) para 2 (650) para 3 (650) conclu (350) (2550)
Friday, September 20, 2019
A Budget Airline In Hong Kong
A Budget Airline In Hong Kong Budget airlines have become a trend in aviation industry over a few decades all over the world, however, as a Asian cosmopolitan city- Hong Kong hasnt have one yet, therefore a research need to be set up to explore on its feasibility. This project proposal aims to assist to accomplish a research by developing a plan beforehand. Firstly, the background of budget airlines and problem statement would be stated out, then a literature review would be carried out in order to find out its research value, after that, the research aim and objectives could be set up as a research goal, last but not least, research method and project plan could be discussed on how, where and when to carry out this research. 2. Background/ problem statement: Before Deregulation: In the United State before 1978, all airline passenger services were regulated and controlled by the Civil Aeronautics Board (CAB). Only 10 trunk airlines were authorized to issue a grandfather certificate by CAB at that time. Underneath this certificate, all major scheduled airlines route structures and fares were controlled and ruled. For an airlines route structure, stops and intermediate stops were specified and passengers carrying between stops were limited, a new promoted route needed to go through a lengthy procedure and hearings, even a stoppage of a route service was still needed the CABs approval. For an airlines fare, all fare prices were strictly controlled by the CAB. (John Clinton, 1984) After Deregulation: After passing the Airline Deregulation Act of 1978, CAB no longer had an absolute authority on an airlines entry, exit, routes and fares. Airlines were given freedom on setting up their own fares within a wide range, route applicant would be submitted and passed easily without any restriction when it performed air transportation properly. (John Clinton, 1984) First Successful budget airline: In 1967, the first successful budget airline was born and started its business in Texas in America, it named itself as Southwest Airlines (SWA). The company began when the US market was deregulated. Its successful model had been influencing a lot of other following budget airlines. It provides low-cost, high rate of short haul flying and this made itself maintain a most profitable airline through years. (Peter, David, Gillen, Otto and Hans, 2005) What is Budget Airline? A low-cost carrier or low-cost airline (also known as a no-frills, discount or budget carrier or airline) is an airline that generally has lower fares and fewer comforts. To make up for revenue lost in decreased ticket prices, the airline may charge for extras like food, priority boarding, seat allocating, and baggage etc. Todays budget airline: Nowadays, the value for money is a great emphasis placed by travelers. They are willing to buy cheaper tickets to trade off some other aspect such as leg room during flight. However, to determine whether a budget airline can survive and drive down the cost, it mainly depends on government and major airports will to open up the skies. Therefore, different areas are in different cases, but every consumer loves a low price ticket and somehow the developments are very similar in nature and continue in varied ways. As in US, budget airlines have dominated the market as travelers are price driven; in Europe, more local airports are needed to be opened up to let more budget airlines to fly in; in Asia, there are more opportunities to expand the whole market but the path is not easy, since the market is still dominated by the national flag carriers. Besides, they are also supported by the cargo business. (Scott Lee, 2004) Problems Statement: As we can see, budget airlines business not only become a trend over the globe, but also bring out more travelers and so to extend the economy of our own country or region, however, there is no budget airline at all currently in Hong Kong, what are the reasons? Few years ago there was once a low cost carrier- Hong Kong Oasis airway which offered long haul low fare was bankrupted after 18 months of operation, why would that happen? An Malaysian budget airline- Air Asia already developed its third home base in Thailand, meanwhile, there still arent any budget airlines setting up in Hong Kong as a home base, why? What are the success factors for a budget airline to develop? Is there feasibility for a budget airline to set up and form a home base in Hong Kong? 3. Literature Review: 3.1.Business strategy of Budget Airline: Markus (2005) once said The business strategy of these low cost airlines to save costs is to offer no frills, have fast turn-rounds, use only a single-type fleet of planes, and to fly mainly to cheap secondary airportsà ¢Ã¢â ¬Ã ¦Ã ¢Ã¢â ¬Ã ¦Ã ¢Ã¢â ¬Ã ¦..They also save a huge amount of administration costs by only accepting credit card payments and thus reducing the paperwork to a minimum (Markus, p.269, 2005) In other word, they minimize their cost in management, aircraft maintenance, crew training, landing fee, parking fee, administration work, etc. Any additional cost, they will stay in the air ticket and let the passenger pay for it. This would rise out a question, would the passengers in Hong Kong be willing to pay for a low cost just to get to a destination or a high price to buy a good quality of service? Budget airline is a trend? Start from the next two years as announcing in late May, the Singapore airline would establish a subsidiary-a no frill, low cost airline, using wide body aircrafts to serve medium to long haul routes. According to the company after years of markets of extensive review and analysis, they have to admit that there is a large growing demand for low fare travel. The low fare airlines assist to stimulate the growing demand of travel. The company wants to launch this service to push its single-digit growth to a double-digit growth as this low fare market is growing hugely. (Govindasamy, 2011) This has showed us which the low fare air travel market is growing and even an Asian state-owned conventional airline want to join in to gain share, therefore there is lots of room for more new budget airlines to be set up and serve the demand. Budget airline comparing with conventional airline over the globe: Graham Dunn (2011) state in the airline magazine, Data from four years of the Airline Business low-cost carrier and world airline ranking surveys shows that while the 10 largest network carriers were highly profitable in 2006 and 2007, seven lost money in 2008 and eight were in the red in 2009 at an operating level. Contrast this with the top 10 lost-cost carriers- only two lost money in 2009, three in 2008 and one apieve in 2007 and 2006. In this case as we know, during the economic crisis between 2008 and 2009, we can see that the low cost carrier is on a steady growth and earn money, but the conventional airlines are greatly affected. In fact, the magazine also shows that the budget airlines are growing at a double-digit development around the USA and Europe, and there are still more room for them to rise. In South East Asia, the larger low-cost carriers already expand beneath their home market and set up more home base in other country around the region as there has been a great demand for cheap air travel, such as Airasia has also set up a home base in Indonesia and Thailand beyond Malaysia. (Graham Dunn ,2011) Therefore, even Hong Kong set up a budget airline, there are still lots of other competitors around the region, and can it survive? The Background and Success of Air Asia and the Asia region: Apparently in the 21st century, if the more preferable demography and economic trend persist, Asia would be well focused by the whole world, in other words, more people would be willing to travel in and out of Asia by plane for business and leisure. (Joseph, 2011) Air Asia now is one of the largest low cost carriers in South East Asia. It used to be built up by the Malaysia government from 1993 and started its own operation as a flag conventional airline in 1996, however, within those five years, it was a cracked airline which only have two Boeing 747, 250 staffs, four destination and a debt of $11 million. But in 2001, it was bought by Tune air and turned it and re-launched as a low cost carrier, then it start to become a profitable business. In 2007, Air Asia X was set and launched as a low cost long haul carrier which flies to Europe and Australia. Currently, the whole Air Asia Group has owned 102 aircrafts, flies 150 routes and 68 destinations, it has been still continuing to expand its fleet and market share. In the past two year, it has already accomplished a Double-digit capacity growth. Certainly, there are some advantages that it already fully take, such as low-price labor, a helpful economical hub at Kuala Lumpur. (Joseph, 2011) In this case, are there any success factors we can learn from and use in Hong Kong? The Background and failure of Oasis Hong Kong airway: Oasis Hong Kong airline claimed to be the first long haul low cost airline based in Hong Kong, Reverend Raymond Lee led a starting capital of $100 million with several Hong Kong investors. It began its operation and launch to serve passengers from October 2006, but after 18 months of operation, it halted all operation and collapsed as financial liquidation. It used to own 4 Boeing 747 and flew two routes, and three destinations: Hong Kong, Vancouver and London. During the operation period of time, the price of jet fuel has jumped from $600 a tonne when Oasis started flying to a current level of around $1,137 a tonne. Besides, the company did not run as an short haul, no service model but provide a full service such as inflight meal and entertainment. (Robin, 2008) In this case, a rise of jet fuel price can push a company to fall, are there any other critical threats which exist? Or the whole Hong Kong aviation environment is not suitable for an budget airline to exist? Disadvantages and advantages of budget airlines: For traveling with budget airline, there are also some disadvantages that you may want to take account for, such as you may only have a limited meal with probably peanuts at all for the whole flight, you may not choose your own seat, they have less flexibility which you cant cancel your flight or get a refund, any extra checked bags will be charged, they often land on remote airports with no bus connection and they are usually booked through internet. (Shewanda, 2011) However, there are also some advantages you may want to consider, such as the fare with budget airline is relatively small which you can save the money for other things, they often fly to more locations and smaller cities that you may interest, and as money are saved, thus more travels will be encouraged and more people can afford it. (Jennifer, 2011) Therefore, when the Hong Kong customers compare the advantages and disadvantages of budget airlines, will they still choose budget airline? What is the low fare travel market like in Hong Kong? Challenges and Background of the local dominant airline in Hong Kong: The company began in 1946. It was found by two world-war 2 pilots. They first flew to carry passenger to Manila, Bangkok, Singapore and Shanghai. However in 1948, some of the shares was bought by a UK company, Butterfield Swire (today known as the Swire Group) which took a 45% share. Therefore John Kidston Swire took the leadership work; Butterfield Swire became wholly responsible for the management of the airline. And then it has been expanding through time. In 1998, the Cathay City was built, and in 2006, the dragon air was bought to be involved in Cathay Pacific Group. Right now it owns 128 aircrafts and has ordered more than 100 aircrafts. Its route has covered more than 150 destinations in 41 countries. It ranks as the worlds 2nd most profitable airline by net profit and the 7th largest airline in the world by operating profit. Its staffs number is 19,850 worldwide. (From Cathay Pacifics Website) In this case, its customers do not only include leisure and business travelers but also the regional people. If a budget airline was being set up, this airline would be the biggest local competitor. Potential low cost carrier that will be set in Hong Kong: There will be two potential budget airlines setting up in Hong Kong- the Hong Kong express and the Jetstar subsidiary. The Hong Kong Express will transform to a low cost carrier in Jul-2012 or Aug-2012, operating under its new low-cost model to cities in mainland China, South Korea, Japan and Southeast Asia. As a Foreign budget airline- Jetstar is also looking forward to establishing a subsidiary in Hong Kong, it may try to co-operate with Hong Kong Airline. (CAPA, 2011) This case has showed us that many companies are interested in developing a low cost carrier in Hong Kong, therefore in other words, there is feasibility for Hong Kong to set up an low cost carrier. 4. Aim: Through analyzing all the data collected to determine whether it is possible to set up an budget airline in Hong Kong or not. 5. Objectives: To explore the background information and business model of budget airline To explore the operation, cost structure, strategy of low cost carrier in Asia To carry out a case study: the success story of Airasia and the failure story of Oasis To set up a survey to ask about Hong Kong frequent flyers expectations on budget airlines services To calculate all operating cost and expense to run this business To compare the price of flying with an existing conventional airline with a hypothetical budget airline to find out the feasibility 6. Research method: For this research, I will use the inductive method approach, because my aim is explore the feasibility to set up an successful budget airline which could last for a long time in Hong Kong through observing variety of data such as budget airline business model, cost structure, government policy and so to analyze and find out the answers for it. And I will select the survey strategy for gaining Hong Kong peoples opinion of service they wish to add in without any additional cost for a budget airline service in order to calculate the operating cost of an hypothetical budget airline and so to set up the best price of a fare to equalize the cost. Then I will pick the memo-method as my unique data collection method, and carry out the cross-sectional study as the data would give me the result. For data collection, I will use questionnaire and the interview. 6.1 Questionnaire For the Questionnaire, I plan to interview 50 people, they are mostly business travelers and leisure travelers, I will approach them through my friends who are frequent flyers. 6.2 Interview: For individual interview, I hope that I can make an appointment with some of the staffs who work as an airline accountant and inside the airport authority, and gain financial information of running an airline company. 7. Project Plan: I would like to spend half a year to complete my project. Here is my work breakdown structure:
Thursday, September 19, 2019
Essay --
St. Augustine considers his mother as a crucial factor in his conversion to Catholicism. However through the analysis of his Confessions it leads me to believe that St. Augustineââ¬â¢s mother was not a decisive figure. Monica was in the background keeping him in thought and prayer however Augustineââ¬â¢s watershed moments came as a result of his own examination of readings as well as his conversations with his friends and mentors. Therefore I argue that Monica had delayed Augustineââ¬â¢s baptism and it was his own experiences that allowed him to come to God. Baptizing a baby at birth was this was a common practice during the time when Augustine was born. And Monica had decided to keep Augustine from being baptized. Monicaââ¬â¢s reasoning is really just an unnecessary precaution. Whether or not your sins are wiped away now or later as long as you go to confession you are forgiven of your sins regardless. More importantly this precaution keeps Augustine from strengthening his relationship with God early on because it had kept him from truly being responsible for his actions and had stunted his involvement in the Church. In the first chapter alone he states ââ¬Å"I was already a believer, as were my mother and all the household, with the exception of my father.â⬠1 He was already a steady believer in God and was ready to be baptized however he was kept from it and was influenced by the other people as they said ââ¬Å"Let him be, let him do as he likes, he is not baptized yet.â⬠Without the proper reinforcement and teaching he progressively strayed away from his beliefs and eventually lost himself in sin. This leads to one the most important incidents in Augustineââ¬â¢s childhood. Augustine spends more time lamenting on the time he had stolen the pears than he does ... ...e so it may be fabrication or mayhap truly be Godly intervention Augustine had opened up to a passage that had told him to discard his lust for flesh and put on Jesus Christ. This was the last sign that he needed and Augustine converts immediately. Throughout Augustineââ¬â¢s Confession he describes his journey of coming to Christ. He is constantly thanking his mother and giving much credit to her. Many of his developments are not due to any of Monicaââ¬â¢s doing. He had always kept her in his thoughts and that is probably why he feels that she was influential. However he was most influenced by his friends, preachers, and even perhaps divine intervention. Without these revelations he could possibly have strayed away from Christianity or even religion completely. Therefore I conclude that although subtly influential, Monica was not an integral part of Augustineââ¬â¢s conversion.
Wednesday, September 18, 2019
Dream House Essays -- essays research papers fc
My Dream House à à à à à Ever since I was ten years old I have known what kind of house I wanted to live in. A house that is on the lake and after I start a family it will be considered a loving home. à à à à à One of the most important details about a house is the location. My house will be located where it is quiet and peaceful. My house will be located on a small private lake, but about two hundred yards off the edge of the lake. The best location for this would have to be in Minnesota. Minnesota has beautiful lakes with great houses around them. If it would happen to rain a lot, I would want my house to be far enough away that it will not get damaged. à à à à à I want my house to be located where it is warm in the summer and cold in the winter. I think the best state for that to happen is Pennsylvania. It is just so beautiful there all the time. The structure of a house is a very important part of construction of the house. The house is going to have two stories and a full basement. There will be windows with shutters on each side of the house. There will also be windows in the basement where some of the ground has been dug out so light can get into the basement. There will be a deck facing the lake around the first and second floor of the house. The purpose of having the deck in that position is so anybody can go out there relax, and watch all the people in boats go by. There will be double sliding glass doors...
Tuesday, September 17, 2019
Animal Farm Comprehension Questions Essay
1. Writing as if you were speaking in Napoleonââ¬â¢s voice talking to the other animals, explain why Boxer is sent to the Knackerââ¬â¢s. Comrades of Animal Farm! We are gathered here today not to mourn Boxer but to understand him. You see, Boxer was a great worker, he had two great ways of looking at life. 1) ââ¬Å"I will work harder!â⬠and 2) ââ¬Å"Napoleon is always right!â⬠In these two ways, Boxer was right. But you see, Boxer was not who we thought he was. Boxer was a mischievous horse and he working for Snowball! You see, comrades, it turns out that Snowball was not on but he was actually sneaking around the very grounds of Animal Farm! His plan was to infiltrate Animal Farm by. Converting our best worker into a double-agent, a spy, and a sabotaging (insert adjective here)! And furthermore, it worked. Squealer was doing his routine act of informing when he came upon Snowball and Boxer discussing these no-longer confidential plans in this very barn! This, comrades is why I have called this meeting to order. I couldnââ¬â¢t have all of you grieving over something that is not worthy of :insert emotion here: So carry on, comrades and know that he died for a reason. forward, comrades! If you believe this is hard, then think about this, do you really want Jones back? Snowball and Boxer would have found a way to bring him back, and as your leader, I could not let that happen. I brought you all here today to tell you this, that I have rid us of a backstabber and doublee-crosser. Long live Animal Farm! 2. Animal Farm is an allegory. Find out what an allegory is, and in your own words explain what you think George Orwell is trying to explain about human behavior through this story about animals. Describe three characters with human personality traits that are universal and timeless, and speculate on what kind of people they represent. An allegory is a story, poem, or picture that symbolizes a ââ¬Å"hidden meaningâ⬠or maybe an idea. In this case, I believe that George Orwell is intending to symbolize politics and more specifically, socialism. In socialism, distribution of the output was decided by individual contribution. For example, the pigs claimed they were contributing the most via brain power and thought and therefore needed more food than the other animals. One character that has universal and timeless personality traits is Napoleon the pig, and leader of Animal Farm. Napoleon is power hungry like a lot leaders and eventually, in my opinion, becomes corrupt. He might represent ::::insert leadership role here:::. Another character with timeless personality traits is Boxer and well, the rest of the horses. Boxer was an extremely hard worker and adopted the motto ââ¬Å"I will work harderâ⬠. Boxer even started getting up a full hour earlier and stayed up later than the rest of the animals just so he could work on the windmill. For these reasons I believe that Boxer and the horses represent the working class. A third character with universal personality traits is Mollie. She is vain, conceited and wants the best for herself and is not concerned with the rest of the farm. She eventually abandons animal farm and decides to live on another farm so she may have more sugar cubes. This is the case with a lot of people. I believe Mollie represents the upper-class. 3. Research propaganda and its techniques. How does Napoleon use Squealer for his own propaganda? Explain at least three techniques of propaganda and describe how Squealer uses these on the animals. Why do they work? Napoleon uses Squealer for his own propaganda by ââ¬Å"advertisingâ⬠how great he is as a leader, how Animal Farm has significantly improved, and how Napoleon is in control. One method of propaganda is called glittering generalities. This method uses very ââ¬Å"glitteringâ⬠and positive language that make the listener feel great. The words suggest a very positive meaning but since the words are so general, they donââ¬â¢t actually guarantee anything. Squealer uses this when he brags about how marvelous Napoleon is as a leader and when he talks about how amazing their life will be before they overthrow Jones. Another method is called plain folks, which uses language to make the idea seem necessary, even for the most simple person. Squealer uses this method by telling the animals that they were to engage in trade with neighboring farms only, of course, to obtain materials that were essential to building the windmill. After all, the windmill was their first and foremost priority. A third method is to have an important person advertise the idea to make it seem like the important person believes in the idea strongly enough o advertise it. This will reinforce the listenersââ¬â¢ trust in the idea because if said important person was trustworthy, then why shouldnââ¬â¢t the listener like the idea? Squealer uses this when Boxer disagrees with him. When Boxer starts to protest Squealer immediately says ââ¬Å"Napoleon said it.â⬠Of course, Boxerââ¬â¢s motto is ââ¬Å"Napoleon is always right.â⬠so he went along with it. These methods of propaganda work because the animals are ignorant and they will believe what they want to believe, not necessarily what is true. They believed Napoleon was a good leader because they thought anybody was better than Jones. But the truth is, Napoleon ended up being just as bad and maybe even a worse leader than Jones. 4. How do the pigs use education and the lack of it to control the other animals? What larger point do you think Orwell is trying to make about knowledge and the power of education? The pigs use use the lack of education in Animal Farm to their own advantage. The majority of the animals are not very bright and will believe practically anything that they hear without thinking about it twice. Therefore the pigs, mainly Squealer and Napoleon, tell massive untruths to the animals of Animal Farm and nobody objects. You see, because the majority of the animals arenââ¬â¢t educated they donââ¬â¢t known what is true and what is not. The animals go along with what they are told because they donââ¬â¢t know any better. I believe the larger point that Orwell is trying to make is that education is more important than we think, we shouldnââ¬â¢t take it for granted. If the majority of the USA was uneducated, the government might start getting different ideas on how to run the country which is basically what happened on Animal Farm. Knowledge is extremely valuable and absolutely essential. Had the animals been smarter they might have realized what was going on right under their noses. Or asked for proof when Squealer claimed they found documents that proved Snowball was evil. The power of education was underestimated in Animal Farm, and Orwell is trying to show that it is also underestimated in politics. 5. Compare Animal Farm to a book you have read recently. How is the message about society or human nature the same? What do the authors express that is different? Many books from the reading list on the back would make an interesting comparison. A book I read over the summer was Mockingjay. The message about society or human nature is very similar in each book. In either book there is a rebellion that leads to different government. The government ends up being corrupt, controlling, and will do anything to maintain their image as powerful. For example in Mockingjay, each year they have the Hunger Games where 23 people are killed, and only one survives. This is to remind the people that the goverment is in control and it demonstrates their power very well. In Animal Farm, any animal that stands up to Napoleon or argues the slightest bit later ends up confessing to some sort of crime and being slaughtered. Coincidence? I donââ¬â¢t think so. The main idea of the book is rebellion or corrupt governmentMost of the people in either book donââ¬â¢t understand what is going on and that works to the governments advantage. The people are busy with other struggles, for example a dead daughter/son or a spoiled wheat crop. The books do have many differences, however. In Mockingjay the government is corrupt because the president wants to get revenge on the citizens for rebelling oh-so-many years ago. He does this by secretly torturing people in the capitol city, hosting the Hunger Games, and killing anybody who poses a threat to his power. In Animal Farm Napoleon just slowly corrupts and acquires to his own needs rather than the needs of his animals. Napoleon modifies the rules to justify his actions. Like when Napoleon sleeps in a bed, drinks alcohol, or even murders another animal he adjusts the rules from ââ¬Å"No animal shall sleep in a bedâ⬠, ââ¬Å"No animal shall drink alcoholâ⬠, and ââ¬ËNo animal shall kill any other animalâ⬠to ââ¬Å"No animal shall sleep in a bed with sheetsâ⬠, ââ¬Å"No animal shall drink alcohol to excessâ⬠, and ââ¬Å"No animal shall kill any other animal without causeâ⬠. Animal Farm is considered a famous, class and significant book in 20th century literature. Research and reflect on its importance George Orwell was a political writer. He had very intense feelings and emotions, specifically hate, that were projected in his writing. This is demonstrated in Animal Farm What events in his life might have influenced this book? Orwell had experiences in the Spanish Civil War that affected the way he viewed government and its relationship with its people. His experiences with Soviet communism basically inspired this book, and therefore the book was based on Soviet communism. Publishers especially did not want to publish this book because it was about two Russian dictators, and they were portrayed as pigs. What was the world like when he wrote Animal Farm? World War II had just ended and much of Western Europe was happy with communist Russia with its efforts to beat Germany. Most people were pro-Soviet in 1943 What happened when Orwell tried to publish the book, and how was it received when it was printed? When Orwell tried to publish Animal Farm, he had trouble finding a publisher that would publish his book. Animal Farm was basically a slap in the face to Soviet communism and a lot of people didnââ¬â¢t want to publish anti-Soviet literature. People greatly liked Stalinââ¬â¢s Soviet Union and therefore did not want to hear any criticism that Orwell had to offer, especially since this book is written out of animosity. Some even thought he was a Nazi supporter because of his stance on Soviet communism, since the two main pigs Snowball and Napoleon were obviously Stalin and Trotsky. After the war, however, Frederic Warburg decided to publish Animal Farm. What SPECIFIC historical figures and events does the story refer to in its allegory? This story refers to two Russian dictators, Trotsky and Stalin. The revolt against Jones symbolizes the October 1917 Bolshevik Revolution. The Battle of the Windmill represents World War II and specifically the Battles of Stalingrad and Moscow. People still read it todayââ¬âeven people who werenââ¬â¢t required to read it over summer vacation? In your opinion, why is this an important and well-liked book? People still read this book today, and it was extremely popular throughout the 1900s, after it was sold of course. I believe this book is well-liked because people like to know the truth. Its important to know the potential of bad government, and its opened my eyes to what the government could be hiding or what lies they could have told. This book is well-liked because although it is not explicitly said, this book is a warning for the Socialist movement and attempts to show its true colors, meaning, display how corrupt it can be. Orwell intentionally tried to make it harder for politicians to fool people in order to gain power. People do not like to be fooled at all, and Iââ¬â¢m certain that is why this book is popular. Not only is it different than most stories and interesting, but it exposes the truth
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