HRD Essay Example | Topics and Well Written Essays - 2250 words

HRD - Essay Example However, in accomplishing this particular objective of long-run sustainability, employee absenteeism rate is argued as a major challenge for Human Resource Managers (HRM) that is quite likely to result in declining productivity of the organisation, increasing conflicts amid the employees and hindered sustainability of the entire organisation (Cascio & Boudreau, 2010). Emphasising the severity of the effects of absenteeism, the discussion henceforth focuses on examining the issue on the basis of critical theoretical explanation. In this regard, various relevant theories have been considered in order to evaluate the factors that contribute towards the increasing the number of employees’ absenteeism rate in the modern day context. Employees’ Absenteeism Rate Employee absenteeism is often attributed as one of the most serious and challenging issues prevailing in organisations today. It is evident that employees are among the key assets for HRM in context to their operationa l efficiency and sustainability. Efficient and dedicated performances of the employees result in higher productivity, which further tends to have favourable impacts on the operations of the business. Conversely, inefficient performance of employees has often been observed to have led to lower productivity, which further contribute to a continuous decline in the company performance altogether. Absenteeism is viewed as a habitual pattern of absence deciphered by employees obstructing them from executing their responsibilities in the most effective manner. It is worth mentioning in this context that according to the modern managerial notion, high absenteeism rate of employees in workplace is often attributed as a by-product of poor work satisfaction owing to lack of motivation and morale (Cascio & Boudreau, 2010). To gain a comprehensive understanding on the increasing rate of employee absenteeism, certain relevant theories and concepts have been explained in the discussion below. Soci al Learning Theory of Employee Self-management Social Learning theory is a particular concept that has been applied in the workplace with the intention to encourage employees towards obtaining adequate learning experiences in their working process. This theory can be observed to be directly relevant with the behaviour and psychology of the employees. The theory basically states that people in the society learn mostly through their personal experiences that are acquired by their presences among others or through social interactions to be more precise. The theory further depicts that people in the society mainly learn by imitating or by observing the approach or actions of others. It is deemed that this theory have both positive and negative aspects associated with it in context to the workplace attitude of employees (French, 2011). According to Bandura (1971), employees in the workplace learn from others in a particular process, which includes attention, retention, reproduction and m otivation. Employees in the workplace is deemed to pay attention to what others do, often without judging the interpersonal differences or the after-effects of such a behaviour. As per the Social Learning theory, absenteeism habits of other employees might also be considered as a factor that attracts employees in the workplace and causes negative effects on their performances. As per this theory, the

Current health and safety legislation Essay Example for Free

Current health and safety legislation Essay Ensure the area in or outdoors is free of any hazards or risks and is safe for CYP to work or play in safely. There should be adequate space for the number of people using it to move round comfortably and safely. Equipment should be stored safely storage should be labelled clearly. Furniture should be appropriate size for age of CYP using it. Lighting and noise should be taken into account and specific risks to individuals as in pregnancy, impaired sight or hearing, disabled, and CYP with special educational needs. We have a duty of care towards all the CYP in our care. The outdoor environment has some different needs like secure boundaries, being regularly inspected. The area should be checked for litter broken glass or animal droppings. Ensure any plants bushes or trees are safe no thorns or nettles and no poisonous or irritant leaves, berries, or flowers. Safety rules should be displayed and explained to the CYP also making sure they have a clear understanding of how to use any toys or equipment safely. Areas that include ponds, pools and sandpits etc should be covered when not in use. Be aware of lines of responsibility for checking the learning environment for risks and hazards. Your health and safety officer should answer any queries you have. There should be the correct ratio of adults to children with suitable training and safety clearance. In both these environments and off-site visits everyone should be aware of what to do in case of: emergencies, fire alarms, incidents, accidents or illness. Be aware of possible signs and indicators of child abuse: physical, emotional, sexual abuse, bullying and harassment , neglect and failure to thrive not based on illness. The signs could be: behavioural changes such as regression, withdrawal, excessive attention seeking, aggression and negative behaviour. Physical indicators such as unlikely bruising, burns, marks, genital irritation or damage, hunger , being dirty, lack of  health care. In school we have notices about certain children whom either have allergies, specific illnesses that require specialised medication or immediate contacting of emergency services, they have a picture of the child and detailed instructions of what to do in an emergency. All incidents and accidents no matter how minor are recorded in detail in our first aid book, anything more serious has to be recorded on special incident sheets along with any witness statements. We have regular fire drill practices. There are security locks on the main exits that can only be opened with a swipe card that only members of staff have. If someone should get through this system and are unknown to staff they will be challenged by any member of staff within the school and asked to leave. All the CYP’s are regularly reminded of stranger danger and what to do if they should be approached by a stranger. The gates are locked to the entrance of the school at starting and leaving times for the CYP’s to ensure there is no danger from cars or lorries driving on and off site. CYP are regularly reminded of hygiene issues like washing hands after using the toilet or at lunch times before eating their food, there are also posters to remind them on a daily basis too.

Measles :: essays research papers

Measles Measles is a highly contagious disease. It is caused by an RNA virus that changes constantly. Measles symptoms usually include a bad cough, sneezing, runny nose, red eyes, sensitivity to light, and a very high fever. Red patches with white grain like centers appear along the gum line in the mouth two to four days after the first symptoms show. These patches are called Koplik spots because Henry Koplick first noticed them in 1896. The Spots are important to diagnose measles. A characteristic red rash in measles is red spots starting at the hairline and going down to the face, body, and limbs. Measles usually ends with a complete recovery, but some rare complications can occur with the lungs and brain. Measles might also be linked with multiple sclerosis and diabetes. In 1978, the U.S. Public Health Service started vaccinating for measles. All school age children were vaccinated. Two years later the measles virus occurring went down 99 percent. Now days, measles is very rare and all children are vaccinated for it.Measles Measles is a highly contagious disease. It is caused by an RNA virus that changes constantly. Measles symptoms usually include a bad cough, sneezing, runny nose, red eyes, sensitivity to light, and a very high fever. Red patches with white grain like centers appear along the gum line in the mouth two to four days after the first symptoms show. These patches are called Koplik spots because Henry Koplick first noticed them in 1896. The Spots are important to diagnose measles. A characteristic red rash in measles is red spots starting at the hairline and going down to the face, body, and limbs.

Issues Of Environmental Degradation Environmental Sciences Essay

Environmental debasement is a procedure through which the natural environment is compromised in some manner, cut downing biological diverseness and the general wellness of the environment. This procedure can be wholly natural in beginning, or it can be accelerated or caused by human activities. Many international organisations recognize environmental debasement as one of the major menaces confronting the planet, since worlds have merely been given one Earth to work with, and if the environment becomes irreparably compromised, it could intend the terminal of human being. One of the major menace the planet faces today, environmental debasement, is bound to do life hard for all the life signifiers, including human existences, now or subsequently. Surveies by some of the high organisations reveal that the impairment of environment is happening at an dismaying rate. In fact, the High Level Threat Panel of the United Nations has enlisted environmental debasement as one of the 10 menaces fo r us. This issue portions infinite with jobs like poorness, terrorist act and civil war in the list, and this itself highlights the fact that we are heading for a certain catastrophe. It is defined as a procedure wherein the natural environment of the planet is degenerated to such an extent, that the biodiversity and the general wellness of the planet is subjected to drastic decrease. In other words, this phenomenon can be defined as impairment of the Earth ‘s natural milieus as a consequence of inordinate development of the available resources. These resources include H2O, air, vegetation, zoology, dirt etc. Basically, the life on the planet is interwoven to such an extent that a lessening in a peculiar property triggers a Domino consequence on all the other properties dependent on it. ItA is the devastation ofA ecosystems and the extinction ofA wildlife. It is defined as any alteration or perturbation to the environment perceived to be hurtful or unwanted. Environmental debasement is one of theA Ten ThreatsA officially cautioned by theA High Level Threat PanelA of theA United Nations. Fig,1 Showing pollution from chimneysCauses:Environmental debasement is a consequence of the dynamic inters play of socio-economic, institutional and technological activities. Environmental debasement can be attributed to assorted human activities, every bit good as some natural procedures, with the later holding an undistinguished portion. Most of the resources on the planet are vulnerable to depletion, and the rates at which we are working them have already brought some of them to the threshold of exhaustion. Exploitation of theA dodo fuelsA is the best illustration of this phenomenon. Large scale development has depleted the dodo fuel militias across the universe, therefore go forthing us with no option but to happen an alternate beginning of energy. Other human activities which have been lending to environmental debasement include urbanisation, overpopulation, A deforestation, pollution, hunting, etc. Environmental alterations may be driven by many factors including economic growing, population growing, urbanisation, intensification of agribusiness, lifting energy usage and transit. Poverty still remains a job at the root of several environmental jobs.Social Factors:PopulationPopulation is an of import beginning of development, yet it is a major beginning of environmental debasement when it exceeds the threshold bounds of the support systems. Unless the relationship between the multiplying population and the life support system can be stabilized, development programmes, howsoever, advanced are non likely to give coveted consequences. Population impacts on the environment chiefly through the usage of natural resources and production of wastes and is associated with environmental emphasiss like loss of biodiversity, air and H2O pollution and increased force per unit area on cultivable land. Fig.2 Population in India India supports 17 per cent of the universe population on merely 2.4 per cent of universe land country. Its current rate of population growing at 1.85 per cent continues to present a relentless population challenge. In position of the linkages between population and environment, a vigorous thrust for population control need barely be over emphatic.PovertyPoverty is said to be both cause and consequence of environmental debasement. The round nexus between poorness and environment is an highly complex phenomenon. Inequality may further unsustainability because the hapless, who rely on natural resources more than the rich, deplete natural resources faster as they have no existent chances of deriving entree to other types of resources. Furthermore, degraded environment can speed up the procedure of poverty, once more because the hapless depend straight on natural assets. Although there has been a important bead in the poorness ratio in the state from 55 per centum in 1973 to 36 per centum in 1993-94, the absolute figure of hapless have, nevertheless, remained changeless at around 320 million over the old ages. Acceleration in poorness relief is imperative to interrupt this nexus between poorness and the environment.UrbanizationLack of chances for paid employment in small towns and the ecological emphasiss is taking to an of all time increasing motion of hapless households to towns. Mega metropoliss are emerging and urban slums are spread outing. There has been an octuple addition in urban population over 1901-1991. During the past two decennaries of 1971-91, India ‘s urban population has doubled from 109 million to 218 million and is estimated to make 300 million by 2000 AD. Such rapid and unplanned enlargement of metropoliss has resulted in debasement of urban environment. It has widened the spread between demand and supply of infrastructural services such as energy, lodging, conveyance, communicating, instruction, H2O supply and sewage and recreational comfortss, therefore consuming the cherished environmental resource base of the metropoliss. The consequence is the turning tendency in impairment of air and H2O quality, coevals of wastes, the proliferation of slums and unwanted land usage alterations, all of which contribute to urban poorness.Economic FactorsTo a big extent, environmental debasement is the consequence of market failure, that is, the non existent or ill functioning markets for environmental goods and services. In this context, environmental debasement is a peculiar instance of ingestion or production outwardnesss reflected by divergency between private and societal costs ( or benefits ) . Lack of good defined belongings rights may be on e of the grounds for such market failure. On the other manus, Market deformations created by monetary value controls and subsidies may worsen the accomplishment of environmental aims. The degree and form of economic development besides affect the nature of environmental jobs. India ‘s development aims have systematically emphasized the publicity of policies and programmes for economic growing and societal public assistance. Between 1994-95 and 1997-98, the Indian economic system has grown a small over 7 per cent per annum: the growing of industrial production and fabrication averaging higher at 8.4 per cent and 8.9 per cent severally during these old ages. The fabricating engineering adopted by most of the industries has placed a heavy burden on environment particularly through intensive resource and energy usage, as is apparent in natural resource depletion ( fossil fuel, minerals, lumber ) , H2O, air and land taint, wellness jeopardies and debasement of natural eco-systems. With high proportion dodo fuel as the chief beginning of industrial energy and major air fouling industries such as Fe and steel, fertilisers and cement growth, industrial beginnings ha ve contributed to a comparatively high portion in air pollution. Large measures of industrial and risky wastes brought approximately by enlargement of chemical based industry have compounded the wastes direction job with serious environmental wellness deductions. Conveyance activities have a broad assortment of effects on the environment such as air pollution, noise from route traffic and oil spills from marine transportation. Transport substructure in India has expanded well in footings of web and services. Thus, route conveyance histories for a major portion of air pollution burden in metropoliss such as Delhi. Port and harbor undertakings chiefly impact on sensitive coastal eco systems. Their building affects hydrology, surface H2O quality, piscaries, coral reefs and Rhizophora mangles to changing grades. Direct impacts of agricultural development on the environment arise from farming activities which contribute to dirty eroding, land salination and loss of foods. The spread of green revolution has been accompanied by over development of land and H2O resources, and usage of fertilisers and pesticides have increased many fold. Switching cultivation has besides been an of import cause of land debasement. Leaching from extended usage of pesticides and fertilisers is an of import beginning of taint of H2O organic structures. Intensive agribusiness and irrigation contribute to set down debasement peculiarly salination, alkalization and H2O logging.Institutional FactorsThe Ministry of Environment & A ; Forests ( MOEF ) in the Government is responsible for protection, preservation and development of environment. The Ministry works in close coaction with other Ministries, State Governments, Pollution Control Boards and a figure of scientific and proficient establishments, universities, non-Go vernmental organisations etc. Environment ( Protection ) Act, 1986 is the cardinal statute law regulating environment direction. Other of import statute laws in the country include the Forest ( Conservation ) Act, 1980 and the Wildlife ( Protection ) Act, 1972. The failing of the bing system lies in the enforcement capablenesss of environmental establishments, both at the Centre and the province. There is no effectual coordination amongst assorted Ministries/Institutions sing integrating of environmental concerns at the inception/planning phase of the undertaking. Current policies are besides fragmented across several Government bureaus with differing policy authorizations. Lack of trained forces and comprehensive database delay many undertakings. Most of the State Government establishments are comparatively little enduring from insufficiency of proficient staff and resources. Although overall quality of Environmental Impact Assessment ( EIA ) surveies and the effectual execution of the EIA procedure have improved over the old ages ; institutional beef uping steps such as preparation of cardinal professionals and staffing with proper proficient individuals are needed to do the EIA process a more effectual instrument for environment protection and sustainable development.Habitat FragmentationHabitat atomization carries long term environmental impacts some of which can destruct full ecosystems. An ecosystem is a distinguishable unit and includes all the life and inanimate elements that reside within it. Plants and animate beings are obvious members, but it will besides include other constituents on which they rely on such as watercourses, lakes, and dirts. Habitats become disconnected when development breaks up solid stretches of land. Examples include roads which may cut through woods or even trails which wind through prairies. While it may non sound all bad on the surface, there are serious effects. Some wildlife species require big stretches of land in order to run into all of their demands for nutrient, home ground, and other resources. These animate beings are called country medium. When the environment is fragmented, the big spots of home ground no longer exist. It becomes more hard for the wildlife to acquire the resources they to last, perchance going threatened or endangered. The environment suffers without the animate beings that play their function in the nutrient web. A more critical consequence is land perturbation. Many weedy works species such as garlic mustard and violet loosestrife are both timeserving and invasive. A breach in the home ground gives them an chance to take clasp. These aggressive workss can take over an environment, displacing the native vegetation. The consequence is habitat with a individual dominant works which does n't supply adequate nutrient resources for all the wildlife. Entire ecosystems are threatened with extinction. Some weeds are so invasive and aggressive that they are declared noxious by the federal or province authoritiess to forestall them from destructing good countries. The cultivation or even the sale of noxious weeds is prohibited by jurisprudence. Soil eroding and desertification: A The development of the fertile top-soil takes centuries. But, it can be removed really easy due to human activities like over-cultivation, unrestricted graze, deforestation and hapless irrigation patterns, ensuing in waterless spots of land. When big waste spots extend and run into over clip, a desert is created. Internationally, it has been recognized that desertification is a major job presents, peculiarly due to increased urbanisation.Water logging and dirt salt:Irrigation without proper drainage of H2O leads to H2O logging in the dirt. Besides impacting the harvests, H2O logging draws salt to the surface of the dirt. The salt so is deposited as a thin crust on the land surface or starts roll uping at the roots of the plants.A A A A A This increased salt content is unfriendly to the growing of harvests and is highly detrimental to agriculture. A Water logging and dirt salt are some of the jobs that have come in the aftermath of the Green Revolution. Inappropriate land usage can take to dirty debasement. Bad farming techniques are frequently responsible for land debasement. Leaving Fieldss bare, or plowing them up and down the sides of a hill can do terrible dirt eroding when it rains to a great extent as the dirt has nil maintaining it in topographic point. When the left over parts of harvests and carnal manure are ploughed back into the dirt they serve to refill and fertilise it. However, if the harvests are cut to be fed to animate beings and the manure is burnt as a fuel, the dirt will hold no manner of refilling itself, and lessenings in birthrate. Sometimes landholders make alterations in the manner they use the land in an effort to do the land more productive, but frequently these alterations damage the land and really do it less productive.Effectss:When mills produce harmful chemicals and toxic waste into organic structures of H2O, worlds suffer. Pesticides and fertilisers can besides acquire into a part ‘s H2O system and foul it. Drinking H2O is contaminated. Some shacking in third-world states are extremely affected by the debasement of our planet and these unhealthy patterns cause the followers: Illnesss Death in kids Death in grownups More late environmental debasement effects are going more and more obvious in signifier of scope ofA environmental issuesA impacting the planet. The risky waste let out by the industries tends to pollute the H2O organic structures in the locality, therefore go forthing the H2O unfit for imbibing. Similarly, A nursery gases, such as Chlorofluorocarbons and C dioxide, allow out in the ambiance have a annihilating consequence on the environment, therefore doing the planet vulnerable to a scope of jobs, includingA planetary warmingA andA clime alteration. Worlds have rarely sacrificed their basic necessities, but recently development of resources to carry through these basic necessities itself is taking a toll on the environment.The effects of the major environmental jobs on both wellness and productiveness are:a. Water pollution and H2O scarceness: As per the appraisal of UN, more than two million deceases and one million millions of unwellnesss a twelvemonth are attributable to H2O pollution. Water scarceness compounds these wellness jobs. Productivity is affected by the costs of supplying safe H2O, by restraints on economic activity caused by H2O deficits, and by the inauspicious effects of H2O pollution and deficits on other environmental resources such as, worsening piscaries and aquifer depletion taking to irreversible compression. Fig. 3 Water pollutionb.A Air pollution:As per the appraisal of UN, urban air pollution is responsible for 300,000-700,000 deceases yearly and creates chronic wellness jobs for many more people. Restrictions on vehicles and industrial activity during critical periods affect productiveness, as does the consequence of acid rain on woods and H2O organic structures.c.A Solid and risky wastes:Diseases are spread by ungathered refuse and blocked drains ; the wellness hazards from risky wastes are typically more localised, but frequently acute. Wastes affect productiveness through the pollution of groundwater resources.d.A Soil debasement:Depleted soils addition the hazards of malnutrition for husbandmans. Productivity losingss on tropical dirts are estimated to be in the scope of 0.5-1.5 per cent of GNP, while secondary productiveness losingss are due to siltation of reservoirs, transit channels and other hydrologic investings. Fig. 4 Land debasemente. Deforestation:Death and disease can ensue from the localised implosion therapy caused by deforestation. Loss of sustainable logging possible and of eroding bar, watershed stableness and C segregation provided by woods are among the productiveness impacts of deforestation.f. Loss of biodiversity:The extinction of works and animate being species will potentially impact the development of new drugs ; it will cut down ecosystem adaptability and lead to the loss of familial resources.g. Atmospheric alterations:Ozone depletion is responsible for possibly 300,000 extra instances of tegument malignant neoplastic disease a twelvemonth and 1.7 million instances of cataracts. Global heating may take to increase in the hazard of climatic natural catastrophes. Productivity impacts may include sea-rise harm to coastal investings, regional alterations in agricultural productiveness and break of the marine nutrient concatenation.h. Poverty:In many states in Africa, harvest c rops are falling as ingestion additions. Peoples are happening less alimentary nutrient to eat. One statement held is that while Fieldss in wealthier states are used to turn harvests forA biofuel, poorer states, particularly those around the Equator, are vulnerable to endure alterations, H2O deficits, and urbanisation. All of these factors are increasing the wellness and lives of 1000s. Some scientists and conservationists are inquiring that non-food points and agribusiness waste be used as alternate fuel for vehicles alternatively.i.Losing Earth ‘s Beauty:As worlds dump waste merchandises, usage chemicals, and over fish in the oceans and seas, countries of beauty such asA coral reefsA are damaged. At times the devastation is so great that is can non be reversed. We are killing our planet and the effects are enormous. One illustration of this lies within the seashore lands of Thailand. Here marine and coastal resources at hazard. Vast countries of Rhizophora mangle wetlands have been lost. Coral reefs continue to endure debasement, and the entire fish available for catching is worsening. Not merely is the debasement doing Marine and coastal resources to be lost, but this issue holds big economic jobs. When there are non plenty fish to catch, fishermen are without income to back up themselves and their households. In some coastal towns, the shores are gnawing at a rate of one to five metres per twelvemonth. This consequences in an one-year loss of more than six billion ticals ( $ 150 million ) in economic footings.Decision:A The impact of environmental catastrophes can be lay waste toing on the societal, economic, and environmental systems of a state or part every bit good as the planetary ecosystem. Environmental catastrophes do non acknowledge semisynthetic boundary lines, and endanger the beques t left to future coevalss of a clean and supportive environment. Because of the mutuality of Earth ecosystems international co-operation is paramount to forestall, and when catastrophe work stoppages, respond to alleviate rapidly and efficaciously the effects of environmental catastrophes. Therefore, Governments, International organisations and communities must work together – at all degrees – to decrease the hazards associated with environmental debasement and its contributing factors, such as clime alteration, and guarantee that vulnerable people are prepared to last and accommodate. At the same clip, companies, organisations and persons must besides guarantee that their work is environmentally friendly and sustainable.Types of environmental debasement:There are many different types of environmental debasement. Some of the chief types in Namibia are soil eroding, deforestation, bush invasion, desertification and salinisation. Soil eroding Soil eroding is the gradual have oning off of dirt by either physical dislocation or chemical solution which is so transported away by agencies of H2O, air current or ice to another location. Soil eroding is the taking cause of harm to our dirts, go forthing them wastes and finally less productive. It can take centuries to make merely a few centimetres of dirt and merely a few minutes to destruct the same few centimetres. Today the rate of eroding has been speeded up by human activities. Consequently doing dirt eroding an ever-increasing job. Soil eroding consequences from the ways that people use the land. Practices such as tree felling cause deforestation, and can take to dirty eroding. The removed trees would normally guard the dirt from rain and air current as their roots hold the dirt in topographic point. Additionally many land proprietors cut down trees to make infinite in which to works harvests and rise animate beings which finally can take to dirty eroding.Soil salinisationThis is a type of environmental debasement that is peculiarly common in of course dry countries that undergo irrigation and do non let for any fallow periods for the land to retrieve. Irrigati on strategies are set up to supply a changeless flow of H2O to dry lands so that harvests can be grown. However when irrigation systems are severely designed the consequences can be black. The irrigation causes the water-table degree to lift conveying natural salts to the surface. The salts cause jobs as they restrict the root activity of the works and hence decelerate down its growing. In countries with high rates of vaporization the salts go even more concentrated. The concluding consequence is that the dirts are excessively piquant for workss to be able to turn in them and the debauched land has to be abandoned. Soils which have been affected by salinisation are really hard and expensive to rehabilitate and frequently remain fresh and abandoned.DesertificationDesertification occurs when productive lands are turned into non-productive desert as a consequence of hapless land-management. This by and large occurs in semi-arid countries such as Namibia. ( See the Information Sheet on Desertification )DeforestationThis is the lasting devastation of autochthonal woods and forests which consequences in a loss of natural resources every bit good as a protective barrier for surface soil. ( See the Information Sheet on Deforestation )Bush InvasionBush invasion happens where woody flora gets so thick that it threatens farming lands. Bush invasion happens because woody flora and grasses have different growing rates taking the woody flora to take over and r ule a piece of land. Before the debut of domestic farm animal, the balance between grasses and woody flora would hold been kept in cheque by fires and game. This would hold resulted in an African Savannah dominated by grass with merely a few scattered trees. With the debut of farm animal the balance was upset. Most of the game was eliminated and selective grazers were brought in. Fire eruptions have besides been eliminated every bit far as possible due to human intercession. This means that grasses are to a great extent eaten but the trees which are normally controlled by fires, continue to turn. The consequence is a displacement in the balance in favour of trees and woody flora. Since the growing of grass is limited the dirt is mostly left bare doing it particularly susceptible to dirty eroding by air current and H2O. The sedimentations of foods are hence progressively found merely under trees and shrubs, doing it hard for grasses to turn. Finally the grasses cease to vie for H2O and decease out. Most of Namibia ‘s best agriculture lands are bush encroached. As a effect the land supports less and less livestock per hectare as the woody flora additions. It becomes more hard for the cowss to travel in or amongst the shrubs in hunt for grazing lands. The bulk of valuable foods and H2O in the dirt are so taken up by the infringing shrub and the grasses can non entree them.Loss of biodiversityLoss of biodiversity is a decrease in the assortment of works and carnal species. In countries where environmental debasement has occurred there is frequently a loss of biodiversity as a consequence of the break to the ecosystem. However the loss of biodiversity itself can be considered a signifier of environmental debasement. The scope of familial makeup ( works and carnal assortments ) in a peculiar country can be considered to be a natural resource and is of import in keeping a healthy environment. The biodiversity of an country can diminish as a consequence of pollution, poaching, spread outing agribusiness and urbanisation. Sometimes there is a direct decrease in the figure of a peculiar species which itself if being threatened, but more frequently it is as a consequence of a break in the ecosystem and nutrient concatenation, which causes a Domino consequence, impacting a greater figure of beings.HOW TO STOP ENVIRONMENTAL DEGRADATION:Legislations:Assorted Torahs has been framed in India for the protection of environment and some of these are cited below-A I ) Section 268 to 290 of Indian Penal Code trades with public nuisances. Public nuisance means pollution of air, H2O, blasting, inordinate fume, crud and other polluting activities.A two ) Section 133 and 143 of Code of Criminal Procedure Code and Section 91 of Code of Civil Procedure envisages that a individual may near a Magistrate and District Judge severally by registering a ailment or request about the public nuisance. three ) Under Law of Torts, particular harm can be claimed from nuisance maker/violator of environment. four ) The Water ( Prevention and Control of Pollution ) Act'1974, V ) The Environment Protection Act'1986, six ) Wildlife ( Protection ) Act'1972, seven ) The Air ( Prevention and Control of Pollution ) Act'1981, eight ) The Prevention of Cruelty of Animals Act'1960, nine ) The National Environment Tribunal Act'1995. Problem of pollution is the result of urbanisation, overpopulation and industrialisation. In modern times, hence, it needs more effectual legal sentiments to counter the above. Consequently Indian parliament passed The Environment Protection Act'1986 to safeguard the environmental debasement. The Indian Penal Code has few commissariats on the topic, but they are uneffective when faced with the jobs of an industrialised society. The first job to pull the attending of certain province statute law in India was H2O pollution. But it was merely in 1974 that a Central Act was enacted on the topic to be followed by The Water ( Prevention and Control of Pollution ) Cess Act'1977 and thenceforth most drastic jurisprudence had been enacted as Environment ( Protection ) Act'1986. India foremost got the gustatory sensation of environmental catastrophe by two calamities that befell India – the Bhopal catastrophe in 1984 and Sri Ram Fertilizer Plant leak in 1985. The Bhopal Gas Leak Disaster ( Processing of claims ) Act'1985 gave the Cardinal Government the exclusive authorization to stand for ( in judicial proceeding ) the victims of Bhopal for compensation claims against the Union Carbide Company. Sri Ram gas Leak did non bring forth legislative activity but prompted Mr. M.C.Mehta ( On behalf of Hindustani Andolon ) and certain other organisations to get down to utilize the effectual legal tool in the signifier of Public Interest Litigation ( PIL ) . This gave the Supreme Court an chance to pronounce certain of import philosophy on civil wrong jurisprudence, corporate jurisprudence ( peculiarly the civil liability of managers for wrongs committed by the corporate organic structure ) . Recently, Supreme Court has loosely and liberally interpreted the Article 21 and transgressed into the country of protection of environment and held that the protection of environment and citizen ‘s right to populate in eco-friendly atmosphere interpreted as the basic right guaranteed under Article 21. Recently to extenuate the demands of environment related judicial proceeding, â€Å" Green Benches † had been constituted in many High Courts in the Country. Some of the undermentioned determinations of Supreme Court of India has a great branching towards the protection and safeguarding the environment and keep the ecological balance. At one point of clip, the harm caused to the environment reaches a phase wherein the environment ca n't achieve the needed balance on its ain. In such a state of affairs, we worlds need to step in, and guarantee that the harm is curbed, and the balance is attained. Simple steps, such as preservation of electricity, use ofA alternate energy beginnings, avoiding the usage of things that pollute the environment, A dirt conservationA etc. , can assist in salvaging the environment from the menace of debasement. Environmentalists, the universe over, are seeking their best to salvage our environment, and we need to make our spot to do certain that they win. The demand of the hr is to place the causes of environmental debasement, and extinguish them one by one. We need to understand the fact that we are a portion of the interlacing life system on the planet, and any jobs, like environmental debasement andA environmental pollution, are bound to impact us straight or indirectly. Though the catastrophe is non expected to go on tomorrow or a hundred old ages from now, that does n't intend it will ne'er go on at all. That being said, the burden is on us – the most intelligent species on the planet, to do certain that such jobs are kept at bay.Stairss we can take:There are ways which we can assist to diminish debasement in our environment. Some of these include: Purchase recycled merchandises Conserve H2O Do non litter or flip waste into inappropriate topographic points Conserve energy Join an consciousness group Talk with others about the impacts of environmental debasement Be an advocator to salvage our planet! Reach Your GovernmentA – Tell your local functionaries that you want information on the community ‘s H2O supply and local defilers. Make certain functionaries recognize your right to cognize about your H2O supply. Dispose of Hazardous Waste – Make certain that risky waste is decently disposed of, non merely left around or placed with other refuse. Do n't Dump Chemicals – Never pour toxic substances down the drain. Although H2O is cleaned, metropoliss do non hold the equipment to extinguish all toxic substances from the H2O supply. Find Your Water ‘s Source – Learn about where your community ‘s H2O comes from. Keep a close oculus on this H2O beginning and encourage others to make the same. Read Well Reports – Community good operators frequently produce supervising studies on the safety of local Wellss. Ask the operators to give you a transcript of these stuffs and remain up-to-date on your Wellss. Substitute Substances – You can do your ain non-toxic versions of many popular merchandises, such as insect repellants. Making so prevents the toxic chemicals found in these merchandises from come ining the environment and the H2O supply.

Lord of the Flies: The Evil of Human Nature Essay

â€Å"However Simon thought of the beast, there rose before his inward sight the picture of a human at once heroic and sick(Golding 128). This quote from William Goldings novel, Lord of the Flies, effectively suggests that human beings are evil; which is also the main theme of the novel. In the novel, the major characters at the ending reinforce Goldings negative view of human nature. Golding provides his view of human nature very early in the novel. The island on which the boys land is described as a paradise with a variety of flora and fauna. Upon the boys landing, the tube carrying the boys causes a scar on the island. The intensity of the destruction caused by the scar is described: All round him the long scar smashed into the jungle was a bath of heat(Golding 11). However, the destruction does not stop there. Later, the boys burn down a large part of the island as a result of their carelessness. Here, Golding shows that humans cause destruction even if they did not mean to. He is almost suggesting that causing destruction is second nature to us humans. At the end of the novel, the destruction comes full circle when Jacks tribe burns down the entire island. The presence of the boys has completely changed the island from a beautiful paradise to a charred wreckage. Goldings pessimistic view of human nature is further expanded with the issue of hunting. As the novel progresses, Jacks level of obsession with hunting continues to escalate until the very end of the novel. It is interesting to note that although the island has an abundance of fruits and the boys can easily catch fish and crabs at the beach, Jack insists on hunting to get meat. Later on, he enjoys hunting as if it were a sport:His mind was crowded with memories; memories of the knowledge that had come to them when they had outwitted a living thing, imposed their will upon it, taken away its life like a satisfying drink(Golding 88). Jack hunts not with the sole intention to get meat, but he particularly enjoy exercising power over living creatures while hunting. This shows how much Jack enjoys having power; the power to control other beings. Throughout the novel, Jack does everything he can to gain the respect of the boys; to gain support for power. Later when he most of the boys join his tribe, Jack takes one last step to secure his position as chief of his tribe. He goes as far as to order his tribe to hunt and kill Ralph to eliminate the last threat to his position. Here, we can see that Jack has moved from hunting pigs to hunting humans. Thus, this shows how savage and evil man can be as he hunts even his own kin. Besides, these examples also show that humans have an unquenchable thirst for power that if not controlled, will blind us and take over our soul. In the novel, Golding uses Jack and his tribe to illustrate the effects of complete freedom to man. After Jacks tribe is formed, the members are no longer referred to as boys but as savages with Jack as their Chief. This is a direct reference to the boys regression into a primitive state of being. Jacks tribe also performs several primitive practices that are usually attributed as savage. First of all, they paint their faces and bodies to conceal themselves while hunting pigs. Next, they perform brutal killing of pigs:Roger found a lodgment point and began to push till he was leaning with his whole weight. The spear moved forward inch by inch and the terrifying squealing became a high-pitched scream. Then Jack found the throat and the hot blood spouted over his hands(Golding 168,169). Last of all, they give an offering, the pigs head, to the beast hoping it would not harm them. Thus, this shows that the boys do not understand the true nature of the beast. Their situation is similar to primitive man, who gave offerings to gods and idols to protect their own well-being from natural disasters they did not understand. It is during the presentation of the offering that Jack said: Sharpen a stick at both ends (Golding 169). Obediently, Roger sharpens a stick and Jack skewers the pigs head on one end of the stick and places the other into the ground. This statement is repeated again at the end of the novel. When Ralph asks Samneric of what Jacks tribe plan to with him once he was captured one of them replied, Roger sharpened a stick at both ends(Golding234). Although Ralph would hardly understand what the phrase means, the terrible truth becomes clear to the reader. Jacks tribe plans to behead Ralph and skewer his head on a stick sharpened at both ends as another offering to the beast. It is, by far, the most brutal display of human savagery. Without the eye of watchful adults, Jack and his tribe are uncontrollable; and Jack as their leader, has absolute power. Golding has written Lord of the Flies based on his experience in war. He realizes that war is the greatest act of human evil, for it takes the lives of innocent people and causes nothing but destruction. Therefore, it is fitting for Golding to highlight the effects of war in the novel to reinforce his pessimistic view of human nature. At the end of the novel, Golding leaves the reader with an image of a war ship, which is one of the many traces of war in the novel. If the reader examines the opening of the story, there are references to a war going on in the world, such as Piggys mention of the atomic bomb: Not them. Didnt you hear what the pilot said? About the atomic bomb? Theyre all dead(Golding 20). The reader discovers that the boys are stranded on the island because of the war. Besides that, another trace of the war is the dead parachutist. The boys mistake the dead parachutist for the beast. Ironically, the dead parachutist is the beast in the sense that he is connected to the war going on in the world outside and the beast is attributed to the evil in human nature. Even the boys have their very own war on the island. Therefore, the island could represent a microcosm of the outside world. Now, we return to the image of the war ship. The arrival of the ship allows the boys to be rescued. However, the ship only serves to remind the reader that although the boys are rescued, they are taken back to a war-torn world. After experiencing one war, the boys are being taken to another. The circle of destruction continues. To sum everything up, Golding effectively uses the main characters, especially at the ending, to prove that humans are more evil than good. The last page of the novel has one last scene of Ralph which summarizes the main themes of the novel. From his experience on the island, he is no longer an innocent child as he has been exposed to the evil nature of human beings and human savagery:And in the middle of them, with filthy body, matted hair, and unwiped nose, Ralph wept for the end of innocence, the darkness of mans heart, and the fall through the air of the true, wise friend called Piggy(Golding 248). Works citedGolding, William. Lord of the Flies. London: Faber and Faber, 1996.

Free Essays on The Transition Of Reality Into Ideality In A Midsummer Night’s Dream

Two themes present in many of Shakespeare’s plays, the transition of reality into only a dream and the absurd nature of love form a large part of the dramatic content of A Midsummer Night’s Dream. In Act Four Oberon tells Titania that Bottom will â€Å"think no more of the night’s accidents / But as the fierce vexation of a dream† (IV.i.65-66). Indeed this is what happens, as Bottom himself puts it: â€Å"The eye of man hath not heard, the ear of man hath not seen, man’s hand is not able to taste, his tongue to conceive, nor his heart to report what my dream was.† (IV.i.204-207) It is interesting to note that many commentators now recognize the mangled version in Bottom’s speech as one of the passages in Paul’s First Epistle to the Corinthians, the Bishops’ Bible (2:9): â€Å"The eye hath not seen, and the ear hath not heard, neither have entered into the heart of man, the things which God hath prepared for them that love him.† We can see clearly that the risk of blasphemy is removed by the comic dislocations of sense and of senses in Bottom’s version. Dislocations of the senses occur several times in A Midsummer Night’s Dream, their chief effect being to dislodge the eye from its primacy, but this is the most extended instance. It is also the way that Bottom deals with his nightmare of an imaginary dream that is important and interesting. Not only is he not afraid of it, but he wants to turn it into a ballad. Turning a fearful nightmare into a fun song is crucial to understanding what Shakespeare has done with the play. The play itself delineates with Romeo and Juliet, taking the sad tragedy and converting it into comedy. Thus Shakespeare is making a further comment about the nature of plays and acting, showing them to be a medium by which our worst fears can be dissipated into hilarity. The absurd nature of love is also reflected in Act Four. Earlier in the play, we have already been introduced to the inte... Free Essays on The Transition Of Reality Into Ideality In A Midsummer Night’s Dream Free Essays on The Transition Of Reality Into Ideality In A Midsummer Night’s Dream Two themes present in many of Shakespeare’s plays, the transition of reality into only a dream and the absurd nature of love form a large part of the dramatic content of A Midsummer Night’s Dream. In Act Four Oberon tells Titania that Bottom will â€Å"think no more of the night’s accidents / But as the fierce vexation of a dream† (IV.i.65-66). Indeed this is what happens, as Bottom himself puts it: â€Å"The eye of man hath not heard, the ear of man hath not seen, man’s hand is not able to taste, his tongue to conceive, nor his heart to report what my dream was.† (IV.i.204-207) It is interesting to note that many commentators now recognize the mangled version in Bottom’s speech as one of the passages in Paul’s First Epistle to the Corinthians, the Bishops’ Bible (2:9): â€Å"The eye hath not seen, and the ear hath not heard, neither have entered into the heart of man, the things which God hath prepared for them that love him.† We can see clearly that the risk of blasphemy is removed by the comic dislocations of sense and of senses in Bottom’s version. Dislocations of the senses occur several times in A Midsummer Night’s Dream, their chief effect being to dislodge the eye from its primacy, but this is the most extended instance. It is also the way that Bottom deals with his nightmare of an imaginary dream that is important and interesting. Not only is he not afraid of it, but he wants to turn it into a ballad. Turning a fearful nightmare into a fun song is crucial to understanding what Shakespeare has done with the play. The play itself delineates with Romeo and Juliet, taking the sad tragedy and converting it into comedy. Thus Shakespeare is making a further comment about the nature of plays and acting, showing them to be a medium by which our worst fears can be dissipated into hilarity. The absurd nature of love is also reflected in Act Four. Earlier in the play, we have already been introduced to the inte...

The Tempest and The Road not Taken Essays

The Tempest and The Road not Taken Essays The Tempest and The Road not Taken Paper The Tempest and The Road not Taken Paper Essay Topic: Literature The Road The Tempest Journeys affect each individual in different ways; some are impacted monumentally while others go through events with little or no change. Through character development found in Shakespeares The Tempest as well as the inner conflict depicted through poetic techniques in Robert Frosts The Road not Taken, my understanding of the impact that journeys have has been shaped so that I now appreciate that through emotional and physical events, a deeper insight on life is developed. The Tempest focuses mainly on the emotional transformation of the protagonist Prospero, though other characters experience a change within themselves and how they perceive humanity. The fact that Prospero undergoes such a significant transformation whilst his brother, Antonio, seems untouched by the events and says nothing that hints at the smallest morsel of repentance shows that, though they are both submitted to similar circumstances, the journey has impacted them both in different ways. Although all the actions are aimed at showing the shipwrecked characters their faults, Antonio and Sebastians plot to kill their kind demonstrates that they are incapable of change and gives weight to Prosperos story, causing viewers to empathize with him. Comparisons and contrasts between personalities such as Gonzalo with his idealism and Antonio with his cynicism aid in the development of the characters and the ideas they present. The play is opened with a dramatic storm, symbolizing the political upheaval and imbalance caused by Prosperos brother, Antonio, and the King, Alonso, usurping his rightful position as Duke of Milan. The central plot to the play is Prosperos plan to seek revenge, his bitterness evident when he says to Ariel, with their high wrongs I am struck to thquick. Shakespeares use of magic illusion through the spirit Ariel allows the story to travel beyond the realm of the factual and makes use of imaginative journeys, giving the island a mysterious unknown quality which drives the plot. This, along with imagery through numerous adjectives watery arch assists in the creation of an imaginative atmosphere. The changes within Prospero are gradual but easily seen by his affections towards the relationship between his daughter Miranda and Alonsos only son, Ferdinand. His pity eventually leads to the total forgiveness (I do forgive thee/ unnatural as thou art) of the injustices delivered to him and his daughter 12 years prior. His honorable characteristics are highlighted with virtuous speech such as, Yet with my nobler reason gainst my fury/ do I take part. The rarer action is virtue than in vengeance. Prosperos emotional conflicts and personal journey concludes when he is restored his title and makes plans to return to Milan. Before he does this he forfeits his powers in a soliloquy, this rough magic/I now abjure and frees his followers Ariel and Caliban. He desires to once again live his old life and has realized power is not what is important. This shows a true alteration in him as a person. A different journey is depicted in the poem The Road not Taken. It shows inner conflict as well as the unpredictability of journeys when the narrator unexpectedly reaches a fork in the road. He is sorry I could not travel both as he cannot tell which leads on to a better journey (the other, just as fair), he is forced to make a decision on which path to follow-or, which seems to be more important, which path will not be followed. The fact that he cannot tell how the paths differ symbolizes the fundamental nature of fate and how the choice is given but what will ultimately happen due to our decision depends on providence. The narrator recalls long I stood/and looked down one as far as I could showing his reluctance, though in order to continue on with life, the traveler took the one that looked to be the one less traveled, though he soon finds out that that neither of the roads is less traveled by, the passing there/had worn them really about the same. The title of the poem being The Road Not Taken shows the value that the narrator puts, not in the choice he did make and live but the one that he lost, the one that he can forever wonder about but will never know. The entire poem is an analogy of life and the sudden twists and complications found within it. Frost uses a variety of techniques in order to effectively create this metaphorical and expressive journey. It is a strictly structured poem, following an ABAAB rhyming pattern using simple language, focusing more on the underlying message in the poem as well as word association and connotations of words, for example, the grassy path is associated with ease and comfort. Symbolism is found throughout the 4 stanzas, the yellow wood and the physical autumn changes symbolise the inner change occurring. The last stanza shows the narrator predicting he will be telling this with a sigh/somewhere ages and ages hence. It is neither positive nor negative as the poet himself is yet to find out and only knows that it was a life changing decision that has made all the difference. There is however a hint of remorse, not perhaps for the opinion of a wrong decision but that the decisions themselves have marked the passing of his life-something he will never be able to get back or relive again. Both these texts include journeys of all different forms, all of which have had varying impacts on the personas and readers. Prospero, who began with a bitterness of heart and desire for revenge saw that happiness lay in the forgiveness of his fellows and it was this change within him that allowed for the desirable ending that occurred. The traveler in The Road Not Taken was wizened by the experiences and decisions in life, represented in his physical journey through an autumn wood. Each character was changed in a different, unique way but each gained personal growth. This demonstrates that journeys have different impacts on different people, but it is only through these encounters and lessons that they can develop and expand their knowledge or understanding of the world.

Compliment vs Complement

Compliment vs Complement Compliment vs Complement Compliment vs Complement By Ali Hale I had an email at work recently which read â€Å"This new software will compliment the existing system.† Can you spot what’s wrong with that sentence? If you get confused by the difference between compliment and complement, or if you’re unsure which to use when, read on. Compliment Merriam-Webster defines a compliment as â€Å"an expression of esteem, respect, affection, or admiration; especially : an admiring remark†. It comes from Middle French, via the Italian complimento, and the Spanish cumplimiento, which originates from the Latin verb cumplir: to be courteous. For example: I was trying to pay that girl a compliment, but she ignored me. Sometimes he blushes when you offer him a compliment. In the plural, compliments can also mean best wishes. It is often used as â€Å"with compliments† such as on a compliments slip (a small piece of letter-headed paper, often used by companies for a quick note to a customer or client when a full sheet would be too large.) You also see the phrase â€Å"with compliments of the season† in greetings cards. The verb â€Å"to compliment† is very similar, meaning â€Å"to pay a compliment to†. Note that it is a transitive verb so must have an object. For example: Are you trying to compliment me, or trying to insult me? When he complimented the girl on her dress, his friends laughed at him. Complimentary The adjective complimentary is closely related to the word compliment, and in this context it can mean either â€Å"expressing or containing a compliment† or â€Å"favourable† (Merriam-Webster): My mother made some very complimentary remarks about my choice of shoes. The new restaurant has a very complimentary write-up in the local newspaper. Complimentary also has the meaning â€Å"free†, when something is given as a courtesy or favour: Please accept these complimentary tickets. I thought that the mini-bar was complimentary, but we were charged for our drinks. Complement The word complement comes from the same root as complete. It has nothing to do with being courteous, and comes directly from Middle English, from the Latin word complementum. Merriam-Webster’s first definition is â€Å"something that fills up, completes, or makes perfect†, and it can also be used to mean â€Å"the quantity, number, or assortment required to make a thing complete†, though can sound a little odd or old-fashioned in this context: We had the full complement of pots and pans. Our store does not have enough employees to work the required complement of hours. Complement is often used in scientific, technical or academic areas of discourse, where the complement of X supplies what X is missing, thus making a complete whole. Examples of this usage are: Complement good (economics) Complementary colour (art) You can find a fuller list in Wikipedias entry for the term Complement. In everyday writing, complement is more often used as a verb. Again, it is a transitive verb: The illustrations complement the text. Our new software will complement the existing product. So, my email correspondent should have written that â€Å"This new software will complement the existing system.† But I suspect she wouldn’t have replied to compliment me if I’d written back to point out the mistake†¦ Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:12 Types of Language"Replacement for" and "replacement of"Types of Plots

Max power transfer theorem and kirkchhoffs laws Lab Report

Max power transfer theorem and kirkchhoffs laws - Lab Report Example Irrespective of the high dissipated power because of the lower total resistance, it happens that the dissipated amount of power would be reduced. This paper reports on an experiment done to investigate the Maximum power transfer Theorem. A laboratory power supply was connected in series using a fixed 100 ohm resistor. A decade resistance box was connected across the simulated source of voltage to function as the variable resistor load, RL. The RL was temporarily removed and connected to the meter to measure the voltage across the 100 ohm resistor and the power supply. The power supply was adjusted until the voltmeter reads 1 v. The voltage setting was not adjusted from this point. The simulated voltage in the open circuit was found to be 1V. RL was reconnected. The current and the voltage was measured through connecting a voltmeter and ammeter as shown in diagram 1, for a number of values of resistance, RL, from zero to 200 ohms. The readings were recorded in table 1 under the results section of this report. The voltage was half the open circuit value at 200 ohm. This value was not expected. It is different from the theoretical value. This value was obtained as a result of experimental errors. The load current was half the short circuit value at 200 ohm. This value was not expected. It is different from the theoretical value. This value was obtained as a result of experimental errors. The load resistance for which power is dissipated in the load VLIL at the maximum is 200 ohms. This value was not expected. It is different from the theoretical value. This value was obtained as a result of experimental errors. The obtained result agrees with the maximum power transfer theorem, which argue that the dissipated power in the load would be maximum whenever the load is equal to the resistance source. The obtained results in the study were in agreement with the theorem of maximum power

Television Affects on Society Research Paper Example | Topics and Well Written Essays - 1000 words

Television Affects on Society - Research Paper Example The paper will provide arguments for and against as to why the television has negatively affected the society. Thesis statement: The society should refrain from excessive viewing of the television. The negative effects of excessive viewing the television such as retarding brain development and obesity, are deleterious to human life as compared to the positive effects like for entertainment and education. In the information age, the use of screen media is inevitable. As cited by Carde Napier, a psycholgical reseacher, in his journal article How Use of Screen Media Affects the Emotional Development of Infants â€Å"there is a critical need for evidence-based guidelines for professionals and guardians about the utilization of screen media†. Screen media, television in particular, has a significant impact on the quality and quantity of the parent and child interactions that are crucial in developing secure attachments (2). Roy Warren in his article Parental Mediation of Preschools Childrens Televsion Viewing argues that guidance and supervision of parents is the to overcoming the potential negative effects of television. (395) Research has indicated that as brains continue to develop after birth, they are shaped by experiences and relationships. Therefore, it is more likely that the infant will be vulnerable to the effects of their environment. Therefore, the children will grow up expecting the TV’s unnatural sights and sounds to be part of their natural life, thus associating their presence with relaxation, enjoyment and security (201). In the current world, parenting is very crucial in child development. The study by Carde Napier in the article How Use of Screen Media Affects the Emotional Development of Infants found out that â€Å"parental attitudes in relation to screen media were very contented to use the television as a source of entertainment and babysitter (5). Some of the parents were actually

See word Essay Example | Topics and Well Written Essays - 500 words - 1

See word - Essay Example Team building exercises help in the development trust among employees. Trust and effective will help eliminate baseless arguments the workplace. Instead, employees will focus on helping each grow as professionals. The overall team productivity is bound to increase. The other factors that might result in profitability after corporate retreats are motivation and familiarity. Employees get to know each other, which benefits the whole team. Employees feel motivated because the company cares for their wellbeing. Motivated employees mean increased output. 2. There are several ways to build effective and encourage teamwork. First, one can organize a meeting for all employees. The meeting can be done with the workplace. It will provide an opportunity to brainstorm on how to improve the company. It is a chance for employees to familiarize with fellow employees. Alternatively, the company can simulate tasks that require teamwork and choose teams to participate. The winning team can receive credits in the form of gifts. The key is to emphasize the importance of teamwork. These alternatives can achieve the same objectives achieved by corporate retreat. In addition, they are much cheaper compared to the cost of corporate retreats. 3. The company can find the best place to fit employees that lack athletic ability. For example, employees that lack athletic team can be part of the team involved in formulating strategies how to win. In addition, the organization can organize exercises that do not demand too much athletic ability. Employees who perform poorly in the athletic activities will feel left out. One is likely to feel discouraged and alien to the team. The team building will drive the poorly performing employee to avoid being with the team. It will separate the individual from the team. Therefore, the organizer must find a way to include the individual in other games. 4. Advancements in

Final Project Term Paper Example | Topics and Well Written Essays - 500 words

Final Project - Term Paper Example It is also important to acquire a degree from an accredited law school, which is followed by proving of ones quality as a lawyer. This enables the community and state to appreciate the quality of services offered leading to election as a judge. The most important step to becoming a judge is gaining education. However, a number of courses such as public speaking, government, English, philosophy, and history should boost it. This is because a judge must have skills that include analyzing, logical thinking, speaking, and researching so s to acquire success. To become a judge one must be able to analyze situations in the current world in an acceptable manner. This is the reason experience as a lawyer is very important. In addition, one must have some public support, which is achieved during the trial processes. Since Judges are mostly appointed or elected, it is essential to have favor from the top officials by gaining political support. This ensures that the people involved in appointing are aware of your services and can recommend them as a judge. As a judge, it is important to keep track of any changes in the state laws. It is also essential to ensure that all cases are ruled in favor of the law. In addition, one must avoid any form of involvement in crime and corruption issues. Corruption is the best way to ensure that a judge is brought down. Most importantly, cases must be criticized and a ruling given in accordance with the law. I have worked as a judge for quite a number of years. After my education, I started out as a layer, where I defended cases successfully. I was always successful in most cases, which led to appointment a judge by the state council. After the appointment, I have listened to different cases for seven years. As each year increases in my calendar, I gain new ways to handle similar cases. Over the years, I have boosted my position through acquiring education in a number of

MIDTERM Essay Example | Topics and Well Written Essays - 750 words

MIDTERM - Essay Example Since the parents are suffering from the overwhelming stress, they do not interact with the children and as a result the children are lagging way behind the other children of their age with regards to language speaking. Moreover the children are shy and timid and are not at ease when expressing their feelings and ideas. The condition of the children is understandable because the type of environment they are having at their home is not suitable for developing their language, communication and expressive skills. Solution The solution to the problem; slow growth of language and communication in the children, is by improving the way their parents interact with them. The frequency of reading to them needs to be increased however the way that reading is done is more important. Dialogic Reading is the solution to the problem faced by this family. This method of reading is good for these children for two reasons: 1. Since the children are shy and timid, they need to interact more. Dialogic r eading is better than common method of reading because in dialogic reading the interaction level between the storyteller i.e. the parents in this case and the listener i.e. the child, is very high as compared to common reading in which the child only listens. Dialogic Reading ultimately turns the child into the story teller. 2. In Dialogic Reading the child not only just listens, but also starts questioning, reasoning and becomes more expressive. Since the children in this family do not interact frequently and lack the confidence to speak, Dialogic Reading can substantially increase their confidence level. Importance of Dialogic Reading The parents need to know the importance and usefulness of the dialogic reading. I would explain to them the importance of dialogic reading by convincing them to first analyze the state of their children. I would tell them that the children are shy and timid and have language delays because they are not getting the sufficient time to interact. The par ents can understand the importance of dialogic reading by considering the fact that reading with the children is certainly more effective than reading at them. While conducting Dialogic Reading the parents make the children to ask them questions about the story and make them tell the story. This allows children to develop better observational and verbal skills. Parents should know that dialogic reading expands the knowledge of the children as they share the parents share the knowledge with the children about what the child is looking at. The most convincing thing that I can tell the parents is the fact that Dialogic Reading is having a conversation about a story with the child as opposed to just telling a story. Practicing Dialogic Reading The parents need to know a proper way of practicing Dialogic Reading for getting the desired results. I would tell the parents to base their practice of dialogic reading on three basic principles: 1. Encouraging child to become an active learner d uring book reading. 2. Providing feedback that models more sophisticated language 3. Challenging the child’s knowledge and skill by raising the complexity of the conversation gradually Moreover parents can use the techniques of CROWD and PEER for practicing dialogic reading. These two acronyms explain the methodology for correct execution of Dialogic Readin

International Financial Management - Assignment Question Essay - 1

International Financial Management - Assignment Question - Essay Example Each party in the venture is given roles and liabilities upon the occurrence of the foreseen risk (Kumar 2007). Bento, J. P. C., 2009. Economic integration, international trade and the role of foreign direct investment : the case of Portuguese manufacturing. Berlin : Distributed in North America by Transaction Publishers. A rein-voicing center is a department or a subsidiary of a multinational company where all transactions happening inside the firm are centralized and foreign currency liabilities and receivables are netted (Kumar 2007). A merger is a situation where two or more firms come together to form one expanded business. On the other hand, an acquisition is a situation where one firm takes over business operations of another firm and becomes the new owner (Kumar 2007). Bento, J. P. C., 2009. Economic integration, international trade and the role of foreign direct investment : the case of Portuguese manufacturing. Berlin : Distributed in North America by Transaction Publishers. The first advantage of mergers and acquisitions is that it helps a company to expand its market. They also help a company to enjoy the economies of scale and have increased efficiency in their operations (Kumar 2007). Mergers and acquisitions also help a company to reduce on tax and legal implications. A situation where a firm with a high profitability takes over a company with low profitability helps it to reduce the tax liability. In addition to this, a company gains high competitiveness, expands its industry know how and positioning and increases profitability (Kumar 2007). Mergers and acquisitions also have some disadvantages. They suffer from such things like decreased corporate performance and services, lowered industry innovation, decline in equity pricing, decline in investment value, increase in costs to consumers and they suppress competing businesses (Reuvid and Sherlock 2011). Expanding to new

MIDTERM Essay Example | Topics and Well Written Essays - 750 words

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Marketing Communication Assignment Example | Topics and Well Written Essays - 1500 words

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Race Relations Essay Example for Free

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Drive-by Shootings at Henry David Thoreaus Walden Pond :: Thoreau Walden Pond Essays

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Dreams in Invisible Man Essay -- Ralph Ellison, Invisible Man

   There are many types of dreams and many interpretations of those dreams. Dreams of power... of glory... of the past and the present... but none are as vivid as those that are found in Ralph Ellison's novel, Invisible Man. The dreams start occurring in the very beginning of Invisible Man. In the infamous "Reefer Dream", IM talks about a dream he had after he used narcotics. In this bizarre dream, IM hears a speech on "the blackness of black", is assaulted by the son of a former slave, and is run over by a speeding machine. All of this occurs while listening to "What Did I Do To Be So Black and Blue?"(pgs 9-12). This is one of the most significant dreams in the book. In another important dream, IM's deceased grandfather gives him a letter that says," To Whom It May Concern, Keep this Nigger-Boy Running (Ellison 33)." At the time IM had no insight to its meaning, but this dream would constantly be used as a reference throughout the story. Trueblood has a dream about his home, Mobile, Alabama, that directly affects IM's future. At the same time, Trueblood was having sex ...

Financial Analysis Decision Making

FACS Page 1 If you require a receipt for the post module work please complete the form below and clip it to the outside front of your assignment, together with a stamped pre-addressed envelope. * To be completed by the student * * * * NAME: MODULE: CHUTSANA NA NAGARA FINANCIAL ANALYSIS & CONTROL SYSTEMS MODULE DATE: 3rd, 4th, 7th December 2007 DUE DATE FOR POST MODULE WORK: January 28, 2008 I confirm the post-module work relating to the above module was received on †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Signature †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Warwick Manufacturing Group N. B. Post Module Work received by WMG after 16. 0 (Monday- Friday) will be stamped as having arrived on the next working day. Chutsana Na Nagara (0654258) FACS Page 2 I declare that the work contained in this assignment is my own, unless otherwise stated. Signed: Chutsana Na Nagara (for on-line submission it is only necessary to type your name in this space) MODULE TITLE: MODULE DATE: GROUP: NAME: FINANCIAL ANALYSIS & CONTROL SYSTEMS 3rd, 4th, 7th December 2007 B CHUTSANA NA NAGARA (0654258) Chutsana Na Nagara (0654258) FACS Page 3 TABLE OF CONTENTS Page Question 1 : Analysis of the Financial Reports : Electrocomponents plc. Brief Description of Electrocomponents Plc. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 Evaluation of Company Performance †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 Group Income Statement and Profitability Ratios †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 Group Balance Sheet†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 Efficiency Ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 10 Liquidity Ratios †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 Investment Ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 14 Group Cash Flow Statement †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦ 16 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 16 Corporate Governance †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 17 Ethical Concerns †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 8 Suggestions †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18 Question 2 : Management Accounting Part A : Cash Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 21 Part B (1) Budgeting †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 23 Part B (2) Marginal Costing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 24 Appendix †¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 34 Chutsana Na Nagara (0654258) FACS Page 4 FINANCIAL ANALYSIS AND CONTROL SYSTEMS Question 1 : Analysis of the Financial Reports Brief description of the company Electrocomponents Public Company Limited is a high service distributor of electronic, electromechanical and wider industrial products. They supply products to worldwide engineering customers. The group operates in 27 countries, covering 82% of global GDP, and supplies to most of the remaining countries worldwide via third party distributors.Chutsana Na Naga ra (0654258) FACS Page 5 Group Strategy—a three year-plan commencing from May 2005; ? Focus separately on two distinct customer groups, Electronic and Electromechanical (EEM) and Maintenance and Repair and Operations (MRO): by extending products ranges and availability to build on the enthusiastic response and meet customer expectations. ? ? Implement the integrated system, Enterprise Business System (EBS) Create a lower cost infrastructure: moving to new head offices, tighter control of costs, supply chain management, for instances Main Products: Nearly 350,000 products around the world.The main product ranges are; ? ? ? ? Electrical, automation and cables Electronic components, power and connectors Mechanical products and tools IT, test and safety equipment Main Customer Groups Total around 1. 5 million customers from all industrial sectors are typically research and development (R&D) or maintenance engineers in business. They also sell products to end customers. Currently they are focusing on 2 main customer groups refer to product groups. 1. Electronic and Electromechanical or EEM Primary customers are electronics design and pre and low volume electronics production.This has been seen as an attractive and growing segment because of strong electronics market growth, technology proliferation and R&D investment. Chutsana Na Nagara (0654258) FACS Page 6 2. Maintenance, Repair and Operations or MRO Within MRO, their important customer is involved in factory automation that primarily uses process control and automation products (PCA). Main Markets are divided into 4 geographical areas: UK, continental Europe, North America and Asia Pacific. below. UK 40% Current market size (in sales) is shown Continental Europe 33% Asia Pacific 9% North America 18% Chutsana Na Nagara (0654258)FACS Page 7 Channels ? Catalogue: a traditional channel ? e-Commerce: total around 25% of group’s sales ? Trade counters/Sales Offices: operating globally Evaluation of Compa ny Performance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Four techniques are selected (horizontal analysis, trend analysis, vertical analysis, and ratio analysis) to interpret and illustrate business performance during year 2007 comparing to 2006 and 2005. For trend analysis, Y2005 is assumed to be a base year (=100%) as it was the last year before massive investments and reorganization projects took place as well as implementation of maintaining dividend paid/share.Ratios will be divided into four groups to evaluate company performance in separate areas. Group Income Statement and Profitability Ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. (Calculations in Appendix1-2) Trend analysis shows sales have increased by 13% from Y2005 as international sales increased (Business Review) due to a combination of strong revenue growth in continental Europe, North America (joint promotions programs), and Asia Pa cific especially a successful customer acquisition program and contribution from new Thailand sales office.However, cost of sales has increased by greater amount (by 20%). Generally speaking, cost of sales should not increase much more than increase in sales because this shows that all produced goods might not be sold (stolen, defected, etc. ) or raw Chutsana Na Nagara (0654258) FACS Page 8 material cost greatly rose due to inefficient procurement. Also, normally when sales increases, business will receive discounts from big batch purchases and even reduces cost of sales. By comparing cost of sales with sales: Y2005 was accounted for 47% but Y2006-7 was the same at 49% of sales.So the problem for Electrocomponents might be, (Chief Executive’s and Business Review), that their strategy to expand product ranges, availability, and promotions to better satisfy and attracts customers in highly competitive markets. These led to increase in inventory holding and cost of sales. As a r esult, gross profit increased by only 4% from Y2006 or 8% from Y2005 (lesser amount than sales growth). directly affected. Gross profit and mark-up ratios are Gross Profit Ratio Gross Profit x 100 Sales Y2007 443. 5 x 100 = 50. 5 % 877. 5 Y2006 426. 4 x 100 = 51. 5 % 828. 5 Gross profit ratio shows every ? sales; business earned 50. 5pence and cost of sales took 49. 5p from it because of increase in cost of sales as mentioned earlier. To illustrate, sales increased by 5. 9% (877. 5 -828. 5? m) but cost of sales increased by 7. 9% (434 – 402. 1? m). Mark-up Ratio Gross Profit x 100 Cost of Sales Y2007 443. 5 x 100 = 102. 2 % 434 Y2006 426. 4 x 100 = 106% 402. 1 Mark-up ratio shows the profit business added up to cost of sales has decreased. Gross profit derived from sales deducted by cost of sales. They normally change adversely; the more cost of sales, the less gross profit.Ratio also illustrates market situation; UK is their biggest but highest competitive market (Business R eview) so increasing price to raise profit is prohibited. That is why business earned only 2. 2pence profit after deducting all cost of sales. Chutsana Na Nagara (0654258) FACS Page 9 For internal comparison, Gross profit ratio is compared with net margin ratio: Net Margin Ratio Operating Profit x 100 Sales Y2007 91. 1 x 100 = 10. 4 % 877. 5 Y2006 68. 5 x 100 = 8. 3 % 828. 5 They are measuring profitability at different levels. Although gross profit ratio decreased, net margin ratio increased.This supports that business better managed operating expenses through achieving in Enterprise Business Systems or EBS and reorganization projects. In other words, It is justified that (13%increase) distribution and marketing expenses which seems to be variable costs (especially sales commissions) for Y2007 has changed in relation to sales (14%increase)—comparing to Y2006; these expenses increased 15% while sales only increased 7%. This was because strong field sales team in North America , EBS, and Japan’s e-commerce increased to 57% of its sales, (Business Review).Moreover, administrative expenses (fixed costs) greatly decreased (78%) because reorganization project led to low infrastructure cost especially the removal of around 110 roles including the closure of the telemarketing department in the UK (Webpage1). So, total operating expenses decreased to 40% as a percentage of sales and led to increase in operating profit by 32% from Y2006. Regarding profitability, the business is doing well in terms of generating profits from worldwide sales growth which is supported by effective marketing activities, product strategies, and investment projects.Group Balance Sheet†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. (Also refer to Appendix3-4) Overall picture, Y2007 total assets were about the same as Y2005, despite a slight increase in Y2006â €™s. On the other side (assets = liabilities + equity), while fixed liabilities and equity decreased, current liabilities was the Chutsana Na Nagara (0654258) FACS Page 10 only one area that greatly increased especially loans and borrowings that increased by ? m56 and also with increases in trade and other payables by ? m9. 4. For further analysis, we shall look at detailed performance from ratios.Efficiency ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Inventory Turnover Ratio (times) Cost of Sales (Ending) Inventory Y2007 434 160. 6 Y2007 434 159. 6 = 2. 7 = 2. 7 402. 1 158. 6 Y2006 402. 1 150. 45 Y2006 = 2. 5 Cost of Sales (Average) Inventory = 2. 7 Inventory turnover ratio: If average inventory is used to calculate ratio, business remains efficiency of purchasing and selling goods at the same level of 2. 7times. A high relative volume of 2. 7times turnover means business had only 4 months of sales in stock.However, it is acceptable to use â€Å"ending† inventory as it was the most current inventory level business held and it shows that supply chain management truly helped improve stock turn from 2. 5 to 2. 7times (Business Review). Notes17 illustrates that business tended to increase raw materials while decrease finished goods. In general, when sales increase, business should stock finished goods for availability to customers—not raw materials as they are not immediately ready for sale. However, ratio can mislead if business stocks too much and cost of sales are not well-managed, the ratio still increases and problems are hidden.Debtor Collection Period (days) Receivables x 365 (Average) Trade Debtors Y2007 150. 5 x 365 = 62. 6 877. 5 Y2006 138. 2 x 365 = 60. 9 828. 5 Debtor collection period: Gross trade debtors (from Notes18) comparing to sales shows business has begun to weaken than Y2006 and industry figure because median period for UK is about only 50 days, Dyson1 Chutsana Na Nagara (0654258) FACS Page 11 (2007). Also, if comparing it with inventory turnover ratio, company sold products quicker but collected money slower. The possible reason might be current global expansions, for example, new trades in Thailand.Payment transactions are neither yet well-settled nor flowing smoothly; therefore, increase leadtime. Also, it is possible that customers buy more because attractive credits terms are offered especially high competitive and mature market like UK (Notes2 and Business review). This is meaningless because sales—not cash inflow increases. Moreover, business must ensure the collection period is shorter than credit sales otherwise business can go bankruptcy. Net Assets Turnover (times) Sales Capital Employed Y2007 877. 5 450. 4 = 1. 9 828. 5 543. 5 Y2006 = 1. 5Net asset turnover shows the improvements in efficient utilization of capital employed to genera te sales. Every ? 1invested in assets, business earned nearly ? 2sales. Sales increased (as earlier mentioned) while capital employed greatly decreased mainly because of increase in current liabilities especially unsecured bank facilities and loans, Notes20. Fixed Assets Turnover Ratio (times) Sales Fixed Assets @ NBV (NBV = Net Book Value) Y2007 877. 5 95. 3 = 9. 2 828. 5 96. 3 Y2006 = 8. 6 Fixed asset turnover ratio: Business had better utilized fixed assets to generate sales or they began to pay off.In other words, every ? 1fixed assets invested can generate sales ? 9. 2. Main effects were from decrease in net book value of intangible assets (Notes12) and slightly increase in property, plant and equipment (Notes13). However, sales increased in greater amount; hence, satisfied ratio. It is wise to compare net book value with other businesses (on like-for-like basis) or industrial ratio for comparisons of performance and position. Chutsana Na Nagara (0654258) FACS Page 12 Similarly , fixed assets can be compared with operating profit to show its ability to generate profit—not just sales.Operating Profit Fixed Assets @ NBV Y2007 91. 1 95. 3 = 1. 0 times 68. 5 96. 3 Y2006 = 0. 7 times Ability to generate profit has also improved; therefore, business well utilized fixed assets to generate both sales and profit. In similar fashion, we can see how well business utilized total assets as below. Return on Total Assets Operating Profit x 100 Total Assets Y2007 91. 1 x 100 = 13. 5 % 676. 8 Y2006 68. 5 x 100 = 9. 7 % 703. 3 Return on total asset ratio shows that company has improved on utilizing each ? 1total assets invested to generate profit.Ratio is higher due to decrease in intangible assets (Notes12), cash and cash equivalents (Notes28), while increase in operating profit. Regarding efficiency in using assets, business is also doing well in this area accept for debtor collection period that has slightly gone up two more days and is still much longer than the average UK’s, Dyson1 (2007). This suggests business closely control international sales and payments along with its expansions. Chutsana Na Nagara (0654258) FACS Page 13 Liquidity ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. (Also refer to Appendix3-4)Current Ratio Inventory + Debtors + Cash + Short term investments Creditors + Short term loans + Overdrafts Y2007 350. 7 211. 9 = 1. 7 360. 3 146. 5 Y2006 = 2. 5 This measures how well business can immediately pay debt from sufficient liquid resources when it falls due. It shows their ability to use any ? 1current assets to pay current debts was weaker because creditors and enormous current borrowings/loans increased (Notes19-20) while decreased in cash and cash equivalents especially call deposits and investments (Notes28). We further look at acid test.Acid Test Debtors + Cash + Short term investments Creditors + Short term loans + Overdrafts Y2007 190. 1 211. 9 = 0. 9 201. 7 146. 5 Y2006 = 1. 4 Normally, inventory cannot immediately turn to cash. Acid test which excludes inventory shows real business ability to meet its obligations. Acid test declines to even lower than 1 showing a worrying sign. Business invested in too much inventory such as product ranges which affected their liquidity. Although, some liabilities may not be due in some months, business cannot neglect the situation.Their liquidity seems very stretch at the moment as the two ratios shows a warning sign that business did not maintain proper level of liquidity and can expose to more severe financial risk unless they make soonest improvement. Chutsana Na Nagara (0654258) FACS Page 14 Investment ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (Also refe r to Appendix3-4) Gearing Ratio (Fixed loans and borrowings + Current loans and borrowings – Cash and cash equivalents) x 100 Equity Y2007 (76. 3 + 79 -19. 1) x 100 304. 6 = 44. 7 % Y2006 (137. 2 + 23 – 39. 4) x 100 336. 4 = 35. 9 % Interest Cover (times)Operating Profit Interest Charges Y2007 91. 1 5. 9 = 15. 4 68. 5 3. 4 Y2006 = 20. 1 Operating Profit (%Change Y2006-7) (91. 1 – 68. 5) x 100 68. 5 = 33 % Interest Charges (%Change Y2006-7) (5. 9 – 3. 4) x 100 3. 4 = 74 % Gearing ratio increased from Y2006: This illustrates business depends more on borrowed funds rather than shareholder funds. It seems that business borrowed short term loans for (main consumption) development of new warehouse and office in North America (Business Review, Notes2). At the same time, shareholder funds decreased due to decrease in other reserves, Notes26; hence higher ratio.Regarding shareholders’ view, they may be in high financial risk as borrowing interests must be p aid before distributing dividend and, in liquidation; lenders will be repaid before shareholders receive any repayments, FACS1. The gearing ratio itself does not mean very much because it depends on type of business and investment stage. We compare it with interest cover Chutsana Na Nagara (0654258) FACS Page 15 which decreased due to interest charges increased by greater amount (74%) than profit (33%). It shows that operating profit can only cover interest charges 15. times so again this is because interests paid for current borrowings/loans as mentioned earlier. Dividends = 18. 4p per share for three years Refer to Chairman Statement; the Board announced in Y2005 that business would maintain dividend paid at 18. 4p per share for the following three years. This is good for shareholders as they know exactly what they will receive, however, it is very risky for business as they must ensure to earn sufficient profit to meet what they said or, if not, business must seek new funding sou rces to finance such commitment. Return on Shareholder FundProfit after Tax & Interest x 100 Shareholders Funds Y2007 56. 2 x 100 = 18. 5 % 304. 6 Y2006 43. 6 x 100 = 13 % 336. 4 Return on shareholder funds increased because of increase in profit after tax and interest which is mainly due to no provisions for Y2007 RoHS cost (Notes3, 11), profit on sale of former head office (Notes5, 11), and decrease in other reserves in shareholder funds (Notes26). This gives confidence to shareholders that every ? 1invested can generate profit 5. 5% higher than Y2006. Chutsana Na Nagara (0654258) FACS Page 16 Group Cash Flow Statement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦The statement illustrates profits earned each year is totally different from cash they hold. It serves as a tool for management control that allows business monitor their cash flows especially the cash outflows. The first major cash outflow was capital expenditure and financial investment which might be due to infrastructure projects business is implementing especially new warehouse in North America, (Notes2, Business Review). Moreover, Income Statement for year ended 2005-7 shows profits after tax and interests attributable to equity shareholders (? m67. 6, 43. , and 56. 2 for Y2005-7 respectively) are less than total dividends paid of ? m80 (18. 4p/share). This is probably the reason that business had new bank loans during these three consecutive years (Cash Flow Statement). Although loans might also be distributed to other activities, it seems that they were partially paid as dividends as announcement in Y2005. Consequently, this is why Y2007 profit (? m85. 2) which increased from Y2006 (? m65. 1), was actually left at the end of the trading year as â€Å"real† cash and cash equivalents at only ? m17. 2 decreased from ? m38.Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ In conclusion, since the business has been established in 1928, they are growing and expanding internationally rapidly (Webpage2 and Webpage3). At present, they are doing well in term of profitability, efficiency, and investment areas, or to say, they are succeeding in sustaining global sales growth across the group, grow margin stabilization and tight control of costs. ROCE ratio also illustrates overall success. Chutsana Na Nagara (0654258) FACS Page 17 Return on Capital Employed (ROCE) Operating Profit x 100 Capital Employed Y2007 91. 1 x 100 = 20. 2 % 450. Y2006 68. 5 x 100 = 12. 6 % 543. 5 ROCE is the combination of Net Margin and Net Assets Turnover. As earlier mentioned both ratios increase and led to significantly increased ROCE. It suggests that overall performance is satisfied due to effective pricing and cost management as well as asset management were im proved comparing to Y2006. This also illustrates overall success in EBS, product strategy, new technology launches, supplier relationships and low costs projects that are paying off. The number of times (1. 9) that net assets can generate sales is very important as one turn equals to 10. % that sales can generate profit. That is why ROCE = 20. 2% as it equals two turns. This suggests that it may greatly increases sales very soon because business recently plans to accelerate sales growth in China which is a big potential market and if business can manage to utilize assets well, there will be increase in profit on capital employed even more. Furthermore, it is better if the ROCE rate of 20. 2% is less than the rate of cost (interest rate) that business pays for money borrowed to invest in these assets because it means assets are used for generating profit that can cover cost of acquiring them.Regarding Corporate Governance (Webpage4), the business is subject to the provisions of the C ombined Code on Corporate Governance published in July 2003 and appended to the Listing Rules of the UK Listing Authority. There are many practices company must follow. For example, the Audit Committee shall consist of not less than three members and be independent non-executive directors. Also, it is authorized by the Board and able to investigate any activity within its Terms of Reference which allows for full access to Company information and can seek that information from any employee of the business.Employees are directed to co-operate with any request made by the Committee. If, at all time, company strictly follows the set rules, they can ensure operating properly. Chutsana Na Nagara (0654258) FACS Page 18 Moreover, regarding Ethical concerns (Business Review), they are focusing on many areas of responsibilities such as ethical trading and sets of KPI for environmental concerns. Along with their profitability, business is considered be on track of long term prosperous. However , there is one important area that needs to be immediately improved. This is liquidity. From the logic below;Total assets = Fixed Liabilities + Current Liabilities + 676. 8 100% = = 145. 8 21. 54% + + 226. 4 33. 45% + + Equity 304. 6 ? m 45. 01% or; Sources of asset investments are from three parts. Business acquires funds from borrowings/loans 54. 99% (21. 54% + 33. 45%) which exceeds equity (45. 01%). The proportion shows business is considered at high risk. This evidence is also strongly supported by earlier ratios and cash flow analysis. Suggestions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Suggestions aim to point out at major areas. Most of them involve the concern on liquidity which has been mentioned earlier. . Recently, there are many business activities going on to support their expansions that involve mostly in long term investments. However, it seems t hat business finance their activities with short term liabilities as they increased significantly, Notes20. This is not a proper means of investment because, normally, short term liabilities are at higher interest rate and the payment due is sooner (amounts falling due less than a year is as high as 79? m from 23? m, Notes20), but business uses them for long term investments which take time to generate cash back.Business may soon suffer from low liquidity and inability to pay day-to-day expenses and interests as business pays back the cost of using money even before they make profit from the money borrowed. Chutsana Na Nagara (0654258) FACS Page 19 The evidence was supported by increased in Gearing ratio; while, Current ratio, Acid test and Interest Cover ratio have significantly decreased. Although, interest expenses from borrowings reduce tax payable, business must ensure they have ability to pay interests and it is worth to do so.Unless they restructure funding sources, they can go bankruptcy very soon because many long term projects will be implement next year. By doing so, business surely improves their liquidity and reduces financial risk for business itself as well as shareholders’. 2. It was very risky that the Board has announced to maintain the same amount of dividend paid for three years while business is under investments/expansions and these two activities consume huge amount of money. Dividend amount is greater than profits after tax and interests; business seemed to borrow current liabilities for cash dividend paid.This could be a good strategic idea to retain shareholders’ confidence on the successful implementation of EBS, execution of the strategy and cost reduction initiatives will significantly improve financial performance over the next three years. However, it could turn to be the worst idea especially when liquidity is now in concern. The alternative solutions can be that business issues more shares so they use cash receive d to pay dividend or pay shareholders with stock dividends (dividend reinvestment plan) so they still retain cash in the business.These two alternatives will increase number of shares so, refer to Gearing ratio, financial risks can be reduced. Point 1&2 above suggest that business rearrange sources of funding by seeking for long term sources and bewares of â€Å"overtrading†. They are expanding, stocking more inventories, having more debtors but lack of cash to pay for creditors—not only from normal trading but also interests from borrowing/loans. Although the Board seems to be sure that after all these investments come alive under well-managed plan for implementations they will urely benefit and guarantee long term prosperous to business, business may go bankruptcy even before reaching the goal. Chutsana Na Nagara (0654258) FACS Page 20 3. Business’s strategy to satisfy customers with around 350,000 products stocked globally, this can hardly do so efficiently. Although inventory turnover seems satisfied, acid test shows inventory greatly affects business’s liquidity. Business is suggested reconsider inventory policy to rearrange classes and only stock fast moving, high volume but low value items.For slow moving, low volume but high value items, business may decide to use pooled strategy by stocking them in one warehouse in location that can easily transport products to anywhere needed, Chopra and Sodhi (2004). 4. Business is expanding very much. Their performance on receivables collection period is slightly weaker because trading worldwide interfaces with many parties and increases procedures complexity. Business must ensure activities are in control and they have sufficient cash to pay creditors. 5. Regarding risks assessment (Business Review); it is wise to include isks from suppliers into consideration as they are trading in competitive markets with enormous competitors and high penalties. Satisfying customers is vitally importa nt; therefore, this requires reliable suppliers as well as effective supply chain management for inventory management and reduce cost of sales. 6. It is suggested business focus on international markets especially North America and Asia which have higher revenue growth. Currently, North American’s e-commerce is account for only 10% of total sales. This is elatively low comparing to other regions. This may be a great opportunity to increase profits because sales can be increased through e-commerce; while, costs are reduced from, for example, reduction in sales teams. (3,824 Words) Chutsana Na Nagara (0654258) FACS Page 21 Question 2 Part A : Cash Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. – The significance of cash management in managing a business. Cash is one of the most important resources in running a business as Pizzey (199 8) put that it is the life-blood of the business.However, cash is not profit. Highly profitable businesses cease to exist just simply because they do not maintain sufficient cash to allow proper level of liquidity; for example, paying for routine business’ expenses. While too much idle cash means inefficiency as it does not generate any added value to business. To avoid falling into either ends, business needs cash management. This can be done through preparing cash flow statement to examine past performance and include corrective actions/improvements in cash budget for future directions/guidelines.To illustrate, business can recognize transaction flows with initial factors; identify risk because it allows for regular monitoring and control; plan their money ahead such as acquiring funds from proper sources at reasonable price rather than rushing into lenders when problems surprisingly happen, etc. We can; therefore, say that ultimate significances of cash management are that business runs smoothly, stably; is safe from insolvency and increases confidences for shareholders. – Impact of Production Manager’s role on the cash position of the business game.Refer to Year2 Cash Flow Statement (Appendix5) Major decisions that affected (negative) cash position were; Machine choice & bottle neck : Machine Mark-I has longest leadtime. Work-in-process are slowly produced. Finished goods tie up waiting for workin-process before consolidating into batch delivery. The longer leadtime, the longer business gets paid from customers and it is even longer from foreign markets. So it keeps borrowing more money to run business and paying interests. Chutsana Na Nagara (0654258) FACS Page 22Routing : At fist stage, Wolfs were produced from Mark-I which had most expensive unit cost of $m(5). This increased cost of sales and while price was fixed, business received less profit. Capacity : Business has already invested in Engineering&Quality and bought new factory. However, using Mark-I led to insufficient capacity; decreased opportunity to win big contracts; and limited sales volume. Business ended up with insufficient products to generates enough sales to cover all costs especially capital expenditure. Three issues above affected cash out-flows which led to extremely high negative cash position.One possible solution is to replace Mark-I with Mark-III to efficiently increase capacity. So leadtime is decreased; stocks are reduced; business tends to decrease debtors, increase profit, reduce loans and interest paid; hence, cash position gets better. – Comment on the impact of Production Manager’s role in managing the cash in a real business. Managing real business will involve more complex issues—unlike the game. The role affects managing cash in numbers of ways: – Control on scrap/defect rates to reduce cost of sales. – Methods to manage defected products to minimise all costs related. Sequencing rule when th ousands different product groups are produced/day, good sequencing is required to avoid delay, quality problems and unnecessary costs. The more costs increase, the less profit business gains—especially in competitive markets where prices can hardly be increased, business suffer more severely. It is worth remembering some points : decisions cannot be made in isolation as one’s decisions affect others’. All functions’ commitment is vitally important. Also, final decisions must be considered regarding company’s For example, purchasing function cuts cost by enefits not a function’s. ordering low quality materials. Additional costs pass on to inspection and production functions. Also, if customers reject products, there will be claiming Chutsana Na Nagara (0654258) FACS Page 23 process, reverse logistic, and product replacement. All these increase costs for whole business no matter in which functions they occur. (541 Words) Part B (1) : Budgeting †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Budgeting Budgeting comprises of two important parts, preparation and budgetary control, which will be described referring to FACS2.Preparation: Business critically analyses internal and external environments/factors to formulate strategic plans that must be in line with business objectives. Business then sets up operational plans with properly identifying resource requirements to support strategies. This resource plans are finally translated into financial plans to complete a budget preparation. Budgetary control: Budget is compared with actual figures. If variances occur, timely corrective actions are required; involving sending feedbacks back for reviews and formulated plans and/or forecasts may be revised. These re continuous processes and required management contributions/commitments at all time so that intended benefits are surely achieve d. The technique can apply to WinningMarginTM. Our objective is to lead Wolf markets and strategy is ensuring products are adequate for sales. We prepare production and sales budgets (Appendix6-7) showing maximum productions are 14 Terriers and 8 Wolfs with total sales $116. 6. From this point, purchasing manager knows how many exactly materials to order and when to prevent material shortage. Production manager can effectively manage shift allocations.Financial manager can see how much money to borrow more as we plan to invest in engineering and quality next year. Moreover, commercial manager can evaluate market share correctly. All Chutsana Na Nagara (0654258) FACS Page 24 functions know their responsibilities and control areas which help achieve the objective. In real business, all processes are much more complex and involve enormous factors such as competitors, substitute products, technologies, government legislations, as well as funding/borrowings which are not easy or fast as in the game. Also, business is legally committed to pay tax and interests which can be very high.More importantly, suppliers and customers are not always reliable. Late payments from customers or late delivers from suppliers can severely interrupt whole business plan/process. (298 Words) Part B (2) : Marginal Costing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Marginal Costing Marginal costing is a costing technique that helps business making decisions. We must understand cost behaviors to properly classify and, more importantly, control them. Total costs roughly comprised of variable costs, which changes with activity Dyson3 (2007) and fixed or â€Å"time-based† costs, which remain unchanged within a period of time regardless of how many products produced.The difference between price and variable cost can be used to cover fixed costs and this is known as â€Å"contribution†. Business makes prof it from any contribution amount exceeds fixed costs; or loss, if insufficient contribution. Regarding WinningMarginTM, this technique would have helped our decision in choosing market. Appendix8 suggests we produce Tiger because of highest contribution in both situations. However, we actually chose Wolf. To make profit from Wolfs; we must produce 11 Wolfs (best case) or 76 Wolfs (worst case). However, our capacity is very limited due to machine constrains (Appendix6).This suggests we have adequate investments in engineering Chutsana Na Nagara (0654258) FACS Page 25 quality and market development to get best available prices as well as enough contracts so that all products will be sold. Alternatively, we may replace MarkI with Mark-III to increase capacity; hence, increase contribution and profit. In real business, marginal costing is more widely used for strategic decisions, for example; â€Å"Make or buy†: Normally making products in-house required more fixed costs. Business buy-in if increase in variable costs is less than fixed costs. â€Å"Price incentives†: Reducing price can increase sales.Business reduce price if contribution from additional sales can cover total price reduction. Or increase price if contribution covers total sales lost. Comparing to real world, a number of costs are associated. To get best from the technique, business ensures they carefully distribute all costs to the right groups otherwise results can mislead decision-making and greatly affects business. (296 Words) Chutsana Na Nagara (0654258) FACS Page 26 Appendix Appendix 1 : Trend Analysis of Group Income Statement 2007 (? m) SALES REVENUE 877. 5 877. 5 x 100 773. 9 2006 (? m) 828. 5 2005 (? m) 773. 9 113% 828. 5 x 100 773. 9 = 107% 100% (Cost of sales) 434 434 x 100 361. 8 402. 1 = 120% 402. 1 x 100 361. 8 361. 8 = 111% 100% GROSS PROFIT 443. 5 426. 4 = 103. 5% 412. 1 443. 5 x 100 412. 1 = 108% 426. 4 x 100 412. 1 100% (Distribution & marketing expenses) 346. 2 346. 2 x 100 303. 3 348. 9 = 114% 348. 9 x 100 303. 3 303. 3 = 115% 100% (Administrative expenses) 6. 2 6. 2 x 100 8 9 = 78% 9 x 100 8 8 = 113% 100% (Total operating expenses) 352. 4 357. 9 311. 3 OPERATING PROFIT 91. 1 91. 1 x 100 100. 8 68. 5 = 90% 68. 5 x 100 100. 8 100. 8 = 68% 100% Chutsana Na Nagara (0654258) FACS Page 27Appendix 2 : Vertical Analysis of Group Income Statement 2007 (? m) SALES REVENUE 877. 5 = 100% 828. 5 2006 (? m) = 100% 773. 9 2005 (? m) = 100% (Cost of sales) 434 434 x 100 877. 5 402. 1 = 49% 402. 1 x 100 828. 5 361. 8 = 49% 361. 8 x 100 773. 9 = 47% GROSS PROFIT 443. 5 426. 4 412. 1 (Distribution & marketing expenses) 346. 2 348. 9 303. 3 346. 2 x 100 877. 5 = 39% 348. 9 x 100 828. 5 = 42% 303. 3 x 100 773. 9 = 39% (Administrative expenses) 6. 2 6. 2 x 100 877. 5 9 = 0. 7% 9 x 100 828. 5 8 = 1% 8 x 100 773. 9 = 1% (Total operating expenses) 352. 4 352. 4 x 100 877. 5 357. 9 = 40% 357. x 100 828. 5 311. 3 = 43% 311. 3 x 100 773. 9 = 40% OPERATING PROFIT 91. 1 68. 5 100. 8 Chutsana Na Nagara (0654258) FACS Page 28 Appendix 3 : Trend Analysis of Group Balance Sheet 2007 (? m) FIXED ASSETS Intangible Assets 2006 (? m) 2005 (? m) 196. 7 196. 7 x 100 191. 9 208. 2 = 102. 5% 208. 2 x 100 191. 9 191. 9 = 108. 5% 100% Property, plant, and equipment 111. 1 111. 1 x 100 110. 9 112. 8 = 100% 112. 8 x 100 110. 9 110. 9 = 102% 100% Investments Other receivables Deferred tax assets Total fixed assets 0. 3 2. 7 14. 2 325 325 x 100 323. 2 0. 3 3. 2 17. 5 342 = 101% 342 x 100 323. 2 0. 2 2. 17. 4 323. 2 100% = 106% CURRENT ASSETS Inventories 160. 6 160. 6 x 100 142. 3 158. 6 = 113% 158. 6 x 100 142. 3 142. 3 = 111. 5% 100% Trade and other receivables 171 171 x 100 145. 1 162. 3 = 118% 162. 3 x 100 145. 1 145. 1 = 112% 100% Income tax receivable Cash & cash equivalents 1. 1 19. 1 19. 1 x 100 64. 8 1 39. 4 = 29. 5% 39. 4 x 100 64. 8 2. 2 64. 8 = 61% 100% Total current assets 351. 8 351. 8 x 100 354. 4 361. 3 = 99% 361. 3 x 100 354. 4 354. 4 = 102% 100% Tot al assets 676. 8 676. 8 x 100 677. 6 703. 3 = 100% 703. 3 x 100 677. 6 677. 6 = 104% 100% Chutsana Na Nagara (0654258) FACS Page 29Appendix 3 : Trend Analysis of Group Balance Sheet (Continued) 2007 (? m) CURRENT LIABILITIES Trade and other payables 2006 (? m) 2005 (? m) 132. 9 132. 9 x 100 109. 5 123. 5 = 121% 123. 5 x 100 109. 5 109. 5 = 113% 100% Loans and borrowings 79 79 x 100 27. 7 23 = 285% 23 x 100 27. 7 = 83% 27. 7 100% Tax liabilities Total current liabilities 14. 5 226. 4 226. 4 x 100 155. 9 13. 3 159. 8 = 145% 159. 8 x 100 155. 9 18. 7 155. 9 = 103% 100% Net current assets 125. 4 125. 4 x 100 198. 5 201. 5 = 63% 201. 5 x 100 198. 5 = 102% 198. 5 100% 521. 7 100% Capital employed 450. 4 450. 4 x 100 521. 7 543. 5 = 86% 43. 5 x 100 521. 7 = 104% FIXED LIABILITIES Other payables Retirement benefits obligations Loans and borrowings 7. 9 38. 7 7. 8 41. 8 7. 6 47 76. 3 76. 3 x 100 92. 5 137. 2 = 82% 137. 2 x 100 92. 5 = 148% 92. 5 100% Deferred tax liabilities Total fixed liab ilities 22. 9 145. 8 145. 8 x 100 166 20. 3 207. 1 = 88% 207. 1 x 100 166 18. 9 166 100% = 125% EQUITY Called-up share capital Share premium account Other reserves Total equity 43. 5 38. 7 222. 4 304. 6 43. 5 38. 4 254. 5 336. 4 43. 5 38. 4 273. 8 355. 7 Chutsana Na Nagara (0654258) FACS Page 30 Appendix 4 : Vertical Analysis of Group Balance Sheet 007 (? m) FIXED ASSETS Intangible Assets 2006 (? m) 2005 (? m) 196. 7 196. 7 x 100 325 208. 2 = 60. 5% 208. 2 x 100 342 191. 9 = 60. 9% Property, plant, and equipment 111. 1 111. 1 x 100 325 112. 8 = 34% 112. 8 x 100 342 110. 9 = 33% Investments Other receivables Deferred tax assets Total fixed assets 0. 3 2. 7 14. 2 325 = 100% 0. 3 3. 2 17. 5 342 = 100% 0. 2 2. 8 17. 4 323. 2 CURRENT ASSETS Inventories 160. 6 160. 6 x 100 351. 8 158. 6 = 45. 7% 158. 6 x 100 361. 3 142. 3 = 44% Trade and other receivables 171 171 x 100 351. 8 162. 3 = 48. 6% 162. 3 x 100 361. 3 145. 1 = 45%Income tax receivables Cash & cash equivalents 1. 1 1 2. 2 19. 1 1 9. 1 x 100 351. 8 39. 4 = 5. 4% 39. 4 x 100 361. 3 64. 8 = 11% Total current assets 351. 8 = 100% 361. 3 = 100% 354. 4 Total assets 676. 8 703. 3 677. 6 Chutsana Na Nagara (0654258) FACS Page 31 Appendix 4 : Vertical Analysis of Group Balance Sheet (Continued) 2007 (? m) CURRENT LIABILITIES Trade and other payables 2006 (? m) 2005 (? m) 132. 9 132. 9 x 100 226. 4 123. 5 = 59% 123. 5 x 100 159. 8 109. 5 = 77. 3% 109. 5 x 100 155. 9 = 70% Loans and borrowings 79 79 x 100 226. 4 23 = 35% 23 x 100 159. 8 27. 7 = 14. 4% 27. 7 x 100 155. 9 = 18%Tax liabilities Total current liabilities Net current assets Capital employed FIXED LIABILITIES Other payables Retirement benefits obligations Loans and borrowings 14. 5 226. 4 = 100% 13. 3 159. 8 = 100% 18. 7 155. 9 = 100% 125. 4 450. 4 201. 5 543. 5 198. 5 521. 7 7. 9 38. 7 7. 8 41. 8 7. 6 47 76. 3 76. 3 x 100 145. 8 137. 2 = 52% 137. 2 x 100 207. 1 92. 5 = 66% 92. 5 x 100 166 = 56% Deferred tax liabilities Total fixed liabilities EQUITY Called-u p share capital Share premium account Other reserves Total equity 22. 9 145. 8 = 100% 20. 3 207. 1 = 100% 18. 9 166 = 100% 43. 5 38. 7 222. 4 304. 6 43. 5 38. 4 254. 5 336. 4 43. 5 38. 273. 8 355. 7 Chutsana Na Nagara (0654258) FACS Page 32 Appendix 5 : Year 2 Cash Flow Statement of Simulation Game (Reconciling profit to cash) Year 2 Cash Flow Statement Profit before interest Add: Depreciation Movements in working capital: (Increase)/Derease in stock (Increase)/Derease in debtors Increase/(Derease) in debtors Financing costs and taxation: Interest paid Dividends paid Tax paid Investing activities: Capital expenditure Disposal of assets Cash generated/(consumed) in year Financing activities: Loans raised/(repaid) Other Increase/(Decrease) in cash in year $m (14) 6 (8) (13) (24) 0 (45) (10) 0 0 (55) (34) 0 (89) 0 0 (19) Appendix 6 : Production Budget Factory 1 Machine Mark-I Mark-I Mark-I Mark-II Mark-III Mark-III Mark-III Mark-III Q1 Te Te Te Te Wo Te Wo Te Te Te Wo Te Wo Total (22) Q2 Te Q3 Q4 Total units Terrier Wolf 1 1 2 2 4 4 4 4 14 8 Tiger 2 Te Wo Te Wo Te Wo Te Wo 3 Chutsana Na Nagara (0654258) FACS Page 33 Appendix 7 : Sales Budget Terrier Opening finished stock (Q1) Production (from Production Budget) Available for sales Forecast unsold finished stock (Q4) Sales Direct costs $s Sales value $s 0 14 14 0 14 14Ãâ€"2 = 28 14Ãâ€"4. = 63 Units Wolf 0 8 8 0 8 8Ãâ€"4 = 32 8Ãâ€"6. 7 = 53. 6 Tiger Total 60 116. 6 Appendix 8 : Optimizing Contribution Terrier Best Worst 5 3 2 2 3 1 13 38 Wolf Best Worst 7. 5 5. 5 4 5 3. 5 0. 5 11 76 Tiger Best Worst 10. 5 8. 5 6 7 4. 5 1. 5 9 26 Sales value Variable cost Unit contribution Break-even volume (Fixed cost of ? 38) Chutsana Na Nagara (0654258) FACS Page 34 References Business Review : Electrocomponents plc’s annual report and accounts 2007, p. 8-13 Chairman Statement : Electrocomponents plc’s annual report and accounts 2007, p. Chief Executive’s Review : Electrocomponents plc’s annual re port and accounts 2007, p. 7 Chopra and Sodhi (2004): Managing risk to avoid supply-chain breakdown, MIT Sloan Management Review, Fall 2004, p. 53-61 Dyson1 J R (2007) : Profitability Ratios, Accounting for Non-Accounting Students, Pearson Education Limited, England, 7th Edition, p. 230 Dyson2 J R (2007) : Profitability Ratios, Accounting for Non-Accounting Students, Pearson Education Limited, England, 7th Edition, p. 230Dyson3 (2007) : Direct costs, Accounting for Non-Accounting Students, Pearson Education Limited, England, 7th Edition, p. 293 FACS1 : Financial Analysis and control systems module pack, WMG, Winning MarginTM, p. 14 (2007) FACS2 : Financial Analysis and control systems module pack, WMG, Budget and Budgetary Control, 2007 FACS3 : Financial Analysis and control systems module pack, WMG, Marginal Costing, 2007 Group Balance Sheet : Electrocomponents plc’s annual report and accounts 2007, p. 25 Chutsana Na Nagara (0654258) FACS Page 35Group Cash Flow Statement : E lectrocomponents plc’s annual report and accounts 2007, p. 26 Group Income Statement : Electrocomponents plc’s annual report and accounts 2007, p. 24 Notes 1 – 30 : Please refer to Notes to the Group Accounts, Electrocomponents plc’s annual report and accounts 2007, p. 29-45 Pizzey A (1998) : Cash: the life-blood of the business, Finance and Accounting for Non-Specialist Students, Financial Times, Pitman Publishing, England, p. 83 Webpage1 : About Us, Low Cost Infrastructure, Electrocomponents plc webpage, [online], http://www. lectrocomponents. com/ecm/about/strategy/infrastructure/ Webpage2 : About Us, Our History, Electrocomponents plc webpage, [online], http://www. electrocomponents. com/ecm/about/history/ Webpage3 : Investor Center, Historic Trends, Electrocomponents plc webpage, [online], http://www. electrocomponents. com/ecm/ir/finperformance/trends Webpage4 : Our Responsibilities, Corporate Governance, Electrocomponents plc webpage, [online], htt p://www. electrocomponents. com/ecm/responsibilities/corpgov/ Chutsana Na Nagara (0654258)