Essays Essay Example | Topics and Well Written Essays - 500 words

Essays - Essay Example A "hit" occurs when the new information presents a match with the data already entered into the database. Maintained by the Federal Bureau of Investigation, IAFIS is the acronym for The Integrated Automated Fingerprint Identification System. It is the biggest biometric database in the world. It is used by all jurisdictions which is a tremendous help in identifying suspects at crime scenes. In addition to fingerprints is also houses a criminal history database. The IAFIS provides "automated fingerprint search capabilities, latent searching capability, electronic image storage, and electronic exchange of fingerprints and responses, 24 hours a day, 365 days a year". (United States Department of Justice-Federal Bureau of Investigation) CODIS is the acronym for the Combined DNA Index System. It is responsible for exchanging and comparing DNA evidence in violent crime scene investigations by and between crime labs within the United States and several international law enforcement agencies. A. Step One - Planning and Direction. The intelligence/analytical process begins and must be run from identifying the main focus of the intelligence. It is responsible for delivering the final product to the law enforcement unit that is requesting it.

Suzuki Case Study Essay Example for Free

Suzuki Case Study Essay This analysis provides the background, SWOT analysis and different marketing alternatives such as positioning the vehicle as a car, compact truck or sports utility vehicle. Later the recommendation is made on which marketing strategies are suitable for the success of the Suzuki Samurai in US market. The analysis has also highlighted in detail the pros and cons of the â€Å"unpositioning† that we propose versus three options of positioning that were considered earlier. We have also evaluated the strength of the marketing research done by Pearlstein in terms of ensuring market of success in US market. In this analysis, there is also the recommendation on how the $2. 5 Million six-month adverting budget should be spent in accordance to the positioning strategy chosen. 2. 0 Situation Analysis 2. 1 The company 2. 1. 1 Company Background Starting business in 1909 as Suzuki Loom Works, the firm was incorporated in 1920 and was to produce textile looms that would surpass the innovation and quality of other competitors. Since foundation Hamamatsu, Japan, SUZUKI has steadily grown and expanded. In 1952, Suzuki created a new type of motor vehicle, a motorized bicycle call the â€Å"Power Free†. This motorized bicycle featured a 36cc two-stroke engine with a double sprocket gear system that enabled the rider to pedal with the engine assisting, pedal without the engine assisting. Suzuki’s first mass produced car in 1955, the Suzulight, was a technical marvel. It included radical innovations for the time such as front-wheel drive, four-wheel suspension, and rack-and-pinion steering. In 1963, Suzuki brings its innovation motorcycle line-up to the U. S. A fast growing line enables them quickly to become a major player in the motorcycle market. Suzuki takes the lead in the all-terrain vehicle market in 1983 by introducing the first four-wheeled ATV. In 1985, Suzuki introduces its automotive line to the U. S, with the arrival of the Samurai. SJ 413 as an upgraded model of SJ410 and designed especially for US market. Today, constantly going forward to meet changing lifestyles, the SUZUKI name is seen on a full range of motorcycles, automobiles, outboard motors and related products such as generators and motorized wheelchairs. The mark trademark is recognized by people throughout the world as a brand of quality products that offer both reliability and originality. More than 45,000 Suzuki people worldwide now create and distribute their work in over 120 countries. Worldwide Suzuki Automotive sales now reach over 2 million each year, surpassing the sales of many other renowned companies such as BMW, Mercedes and Saab. Additionally more than 2. 5 million motorcycles and ATVs are sold each year. Sales of the Suzukis outboard motors also continue to grow. SUZUKI stands behind this global symbol with a sure determination to maintain this confidence in the future as well, never stopping in creating quality products. 2. 2 Product of Suzuki Samurai The Suzuki Samurai was introduced to the U. S. market in November 1985. It appealed to younger consumers with its inexpensive and fun-oriented positioning. This marketing strategy was successful, since over 160,000 Samurais were sold in just three years. The Suzuki Samurai was introduced as an inexpensive multi-purpose sport/utility vehicle. These vehicles were light pickup trucks with back seats, an extended roof, and part-time four-wheel drive intended for use on snow, ice, mud, or off-road driving. Sport/utility vehicles do not have to conform to the same safety regulations that apply to passenger cars. 2. 3 Positioning According to Douglas Mazza, he wanted a fresh approach for his company’s new products, he assigned advertising task to an agency which had no experience in developing campaign for automobiles. The advertising agency found out that the industry practice was to position vehicles according their physical characteristics. They also found out that most advertising was feature/benefit or price oriented. Based on its physical characteristics, the major three positioning for Samurai SJ413 were position as a compact sport utility vehicle, as a compact pickup truck and as a subcompact car, so it should be advertised as a â€Å"tough ittle cheap jeep†. Moreover, the samurai’s size and price distinguished it from all other sport utility vehicles sold in the U. S in 1985. The Samurai was smaller and lighter than the other vehicles, and its $5995 suggested retail price was well below the other vehicles’ $10,000 to $13,000 price range. 2. 4 SWOT Summary 2. 4. 1 Strengths : Suzuki Company followed selective distribution strategy, which allowed the company to achieve higher profitability, dealer loyalty, greater sales support and also higher degree of control over the retail market. Also, their pricing strategy was to sell high volume with low profit margin, which helped company to gain market response for its high quality with low price advantage. Suzuki Samurai has been positioned as a compact sport utility vehicle, a compact pickup truck and a subcompact car. This positioning would be good to place their brand in the particular part of the market where it would receive reception compared to competing products. It also well explained Samurai’s physical characteristics. 2. 4. 2 Weaknesses: Suzuki Samurai set their very low price, which meant it will came up with very low profit margin. The planned dealer invoice rice was $5095, only 7. 5%higher than ASMC’s own landed cost for the vehicle. And they planned to limit the number of samurai dealers, so each dealer might be stressed on as they needed to sell approximately 30 Samurai per month to cover its costs. Samurai was positioned as a sport utility vehicle; however, the market for sport utility vehicle was relatively small. In 1984, it was les than 3% in the U. S market. And it was positioned as a subcompact car, then it might not meet the expectations of the consumers because the Samurai was built on a truck platform, its ride was stiffer and less comfortable than the least-expensive subcompact cars. On the other side, if other consumers start to use it as subcompact car or pick up truck, it will lose its brand image. Thus it might lose potential market, bring trouble for the sales people and increase market confusion among customers. 2. 4. 3 Opportunities: Suzuki Samurai should be unpositioned in the market to get the opportunity to target the entire potential consumers segment. The unpositioned Suzuki Samurai will appeal the users of sports utility vehicles, pick up truck and subcompact cars. That ensures higher consumer acceptance and consumer satisfaction by offering a car for various needs. It would also increase sales and thus add large profit to the company’s income statement by targeting a large customer segments. The unpositioning strategy is better combined with company’s goal that is to establish ASMC as a major car company in the U. S market. The low price of the Samurai can be used as a strategy to impress consumers and to capture great share of the market. And this low price and also encouraged dealership investment in which expanded and increased sales. There will be a good opportunity for Samurai if can build a strong brand image among the potential customers such as some TV advertisement or promotion, in which creating and increasing buyer awareness of the car influencing buyer attitude toward the Suzuki Samurai. 2. 4. 4 Treats: Suzuki Samurai will bring some treats to its competitors if offering a car with different purpose. The broader appeal of the car can reduce sales of its competitors’ who are in the same industry. In addition, it will quite risky for Samurai’s sales if Suzuki overdefine the vehicle, because a product should broad enough to attract a wide range of consumers and meet consumers with different needs. 2. 5 Historical Results According to Appendix 6. 1, in 1984, there were approximately 25100 Japanese vehicles sole among the total of 424810 sport utility cars in U. S market, which was only 5. 9% of the market share. And Suzuki Samurai only had 8. 4% to the Japanese imported cars in the U. S market. In another words, Samurai did not have much market share compared with other Japanese competitors in the U. S automobile industry. In 1985, Samurai has decreased to 4. 6% market share among the Japanese car industry, and only 0. 46% market share of the whole compact sport utility vehicle in the U. S market. However, as compact pickup trucks and subcompact cars, it did not shown any Samurai products in which meant the sales could be very low and unsuccessful during the year of 1984 and 1985. 3. 0 The Market 3. 1 Background Since the introduction of its first production car, the â€Å"Suzulight†, in 1961, Suzuki had sold cars and trucks only in Japan until 1979. It took Suzuki only 5 years to export and distribute its automobiles into more than 100 countries including Hawaii (US). As a global firm, Suzuki captured and maintained its production and R ; D momentum to succeed in international marketing. Aiming at opening the continental US Market, Suzuki Samurai, designed with the US market specifically in mind, was introduced in 1985 in order to establish Suzuki’s brand presence in the United States. 3. 2 Market Entry 3. 2. 1 Exporting Before projecting the Samurai, Suzuki had cooperated with General Motors on a model named under GM as Chevrolet Sprint. Exporting Japanese cars to the US was subject to voluntary restraint agreement (VRA). In 1984, Suzuki’s total VRA quota of 17,000 cars went to GM as Sprints and Sprint’s distribution was limited to its West Coast dealers. GM’s success with Sprint showed Suzuki that a market existed for its cars in the continental United States. 3. 2. 2 Joint Venture – Suzuki + GM (Production in Canada) Japan’s VRA quotas made it impossible for Suzuki to export any cars other than the Sprint to the United States in the foreseeable future. In 1985, Suzuki and GM began negotiations with the Canadian government to build a plant in Ontario producing approximately 200,000 subcompact cars per year. This initiative could help launching more Suzuki automobiles into the US market under its own name by early 1989. 3. 3 Direct Investment – ASMC Market share of Japanese imports in the U. S. automobile market and the overall automobile industry in the US surged during 1984 – 1985. Facing the upcoming entries of other overseas brands, Suzuki was unwilling to wait until 1989 to introduce the Suzuki name into the continental United States. With SJ413 (Samurai), Suzuki had the right product for the market whereas the continental United States was a piece of new land – a dealer network needed to be established, since there was no guarantee that GM would market any Suzuki vehicles other than the Sprint in the US market. Customs clearance issue was solved by exporting SJ413 without a back seat, under which circumstance the vehicle was classified as a truck by the US government. Trucks were not subject to Japanese VRA quotas; instead, they were subject to a 25% tariff, much higher than that on cars (2. 5%). Suzuki management was convinced that the time was right to enter the continental US market and believed the high tariff was worth paying. American Suzuki Motor Corporation (ASMC) was established for the development of a Suzuki dealer network in the United States. 4. 0 Marketing Strategy Analysis 4. 1Entry Strategy The market strategy used by Suzuki varies in accordance to the nature of the Market. This can be evidenced by looking at the strategy used in entering Canadian Market and the entry strategies used in the US market which in some way varied in different times. In Canada the entry strategy was a joint venture which also involved opening the manufacturing company in Canada. In US, the first strategy was to export the Suzuki Samurai manufactured in Japan to the US market meanwhile the later strategy was to export Suzuki Samurai from Canada under its own name, American Suzuki motor Corporation (ASMC) which would keep them competitive in the automotive industry. 4. 2 Distribution Strategy The ASMC under Mazza formulated a strategy to ensure the company achieves its goal of being a major car company in the US. The strategy was: †¢To build exclusive sales facilities for the Samurai which would include showroom, sales office, customer waiting and accessories display area. †¢A minimum of two service stalls dedicated to Suzuki and operated by Suzuki trained mechanics for service and parts. †¢A minimum of three sales people, two service technicians, one general manager and one general office clerk dedicated to the Suzuki dealership. †¢In the long run, with the growth of the product line dealer requirements would expand to include a full, exclusive facility complete with attached parts and services. Limit the number of Samurai dealer network to 47 so that ASMC could guarantee the minimum supply of 37 units per month to enable the dealer to breakeven and earn some profit. Assumption: Dealer has to sell 30 cars per month to breakeven. -If the dealer sells all allocated 37 cars in a month he will be expected to earn a monthly profit of $6300 (See Appendix 1) 4. 3 Pricing Strate gy ASMC’s pricing policy was to sell the basic Samurai at a retail price of $5995 and a dealer price of $5095 which was only 7. 5% higher than ASMC landed cost. The contribution expected by ASMC from each unit sold was $382 (See Appendix 6. ). The ASMC pricing strategy was to sell its high quality product at a competitive price of $5995 which was far below competitors’ price ranging from $10,000 to $13,000. This strategy would enable the company to sell higher volume at considerably low margin. 4. 4 Promotion and Advertising Strategy 4. 4. 1 Product and Positioning Strategy Samurai was planned to be poisoned in the market in three different categories based on its physical characteristics. It could be either, a compact sport utility vehicle (SUV), a compact pickup truck or a subcompact car. See the figure below: Table 4. 4. 1: Market Share 19841985 Ratio of Suzuki to Total Japanese cars import in US8. 5%4. 6% Ratio of Suzuki to Compact Sport Utility Vehicles0. 5%0. 5% Note: The Suzuki sales were only for Hawaii excluding the grey market in Florida and other markets in Puerto Rico, Guam, the US Virginia Islands and Panama. Douglas Mazza wanted a fresh approach for his companys new product so he gave the responsibility to keye/ donna/ pearlstein advertising agency, which had no experience in developing campaign for automobiles. After accepting he offer, Pearlstein and his associates scanned the industry practice for automobile advertising. They found out that the industry practice was to position vehicles according their physical characteristics. They also found out that best advertising strategy was to base on either its feature, benefit or price. It was from physical characteristics that they positioned Suzuki Samurai as a compact sport utility vehicle (SUV), a compact pickup truck or a subcompact car.

The Great Gatsby :: The Great Gatsby F. Scott Fitzgerald

"Great Gatsby" is a novel written by F. Scott Fitzgerald which takes place in the early 1900's. This book consists of five main characters, Nick Carraway, Tom Buchanan, Daisy Buchanan, Jay Gatsby and Jordan Baker. When I completed this novel, I came to a conclusion that this is a well - written book. The two main reasons that makes this novel so superior is that Fitzgerald writes from his personal experience and makes good use of his literary elements. Throughout this novel, Fitzgerald's life plays a major part in the scenes and in the story. For example, the conflict in this novel is that Gatsby is trying to get Daisy from Tom, after Daisy turned him down because he wasn't wealthy. Similarly, Fitzgerald and Zelda liked each other, but before they could get married, Fitzgerald needed to earn some money. Obviously, his money came from writing great novels. Another example that portrays Fitzgerald's life in this novel is the vast use of alcohol. In the novel, alcohol is mentioned so often that it changes character's lives. Firstly, Dan Cody, Gatsby's mentor was an alcoholic who died from alcoholism. And secondly, during Gatsby's parties, people were getting drunk (the man in the library saying the books are real!). In Fitzgerald's life, partying and getting drunk was a frequent routine. Coincidentally, Fitzgerald was also an alcoholic who suffered from alcoholism. Not only does Fitzgerald write from his personal experience to enhance his writing, but he also uses good literary elements. Fitzgerald's use of irony and foreshadowing makes his writing so highly - rated. One scene when foreshadowing kicks is when Fitzgerald describes the scene outside the room where Gatsby and Daisy are sitting together. Fitzgerald describes, "Outside the wind was loud and there was a faint flow of thunder along the sound." Thunder is added on purpose; to foreshadow the unstable relationship between Gatsby and Daisy. He uses irony in describing his characters. For example, when Nick goes to Tom's house for the first time and Daisy describes her husband, Tom as being smart and profound. Later on in this novel, we find out how unintelligent Tom is and it takes him great amount of time to figure out that Gatsby and Daisy have something going on.

Marketing Framework

What Is It? Marketing Framework Market Research and Buyer Behaviour Understanding the behaviour of buyers in your target group is crucial in marketing. Now more than ever, success is dependant upon market research and identifying and meeting customer needs at a profit. ‘Zara' have recently become the world's largest clothing retailer, ‘by focusing on understanding consumer needs and behaviour and by providing value to the customer'. Through intense market research, they developed an important knowledge of their target market's buying patterns and recognised the need to constantly update their styles.Furthermore they understood new concepts such as fast fashion' and ‘disposable clothing, the idea that teenagers and young adults craved new styles quickly and cheaply. It is now more important than ever for marketing managers to respond swiftly and decisively to changes in consumer patterns. Nowadays, an excellent method a company can monitor their target market and con duct extensive market research is through social media. Never before have enterprises had such powerful technologies to interact with customers.Almost every company has their own ‘Facebook or ‘Twitter' account (combined with ver one billion active Facebook users globally), where they can receive immediate customer feedback about the faults in their product online. Furthermore, customers can chat online about these products. 53 percent of people on Twitter in Ireland recommend companies and/or products in their tweets'(ROl Research for Performance, June 2010). ‘Calgon' dishwasher tablets recently produced an advertisement for television, where two women chat in an online forum about their dishwashers.The first woman complains about her dishwasher, while the other recommends she starts using ‘Calgon' tablets. Calgon certainly demonstrate their nderstanding of the importance of Word of mouth'; recent statistics show that 84 percent of customers trust peers over advertisments. Social media is both an opportunity and a challenge for businesses. Consumers used to have to go looking for the product, but now the product will find us, with excess information hurled at us from every direction! We don't have a choice on whether we do social media, the question is how well we do it. There are many other concepts which are particularly noteworthy when developing a successful marketing strategy. Marketing managers must take into account the ountless amount of factors that influence consumer patterns and buyer behaviour, trom gender and age, to social and economic backgroun s c ae O'Leary, CEO ot Ryanair, flourished in recognising an untouched market segment of consumers looking for low quality air travel at exceptionally low prices by comparison to the likes of Aer Lingus.He understood that people on lower incomes neither needed nor wanted to pay high prices for comfort, such as more leg room and nice meals on flights. This has become even more evide nt since the recession, with Ryanair climbing above high fair competitors. O'Learys market strategy succeeded because of is insight and understanding he had of the buyer behaviour of his target group. Segmentation, Targeting and Positioning Marketers developed the processes of segmentation, marketing and positioning so that they could understand their customers and their buying behavior. Segmentation is the first step in this process of product promotion.The goal of market segmentation is finding out where the firm should compete and in what segments should they focus that will result in a comparative advantage. Segmentation leads to comparative advantages in a number of ways. Firstly, it reduces rivalry due to reduced competition in any given segment. It allows for efficient resource allocation as resources can be effectively focused on concentrated targets. Finally it can allow a firm no matter what size to become the product of choice in the given segment. Target marketing is at its most basic level is when a firm directs its marketing message at a specific market or segment.It means that a group of customer has been chosen to whom the firm will direct most of their marketing resources, times and attention. Target marketing means that firms avoid wasting resources and time by giving the consumer what they need or want rather than making a product that the irm believes the consumer needs or wants. Finally positioning, which requires the firm to establish the brand in the minds of the consumers in order to maximize the potential benefit. Businesses use positioning analysis to understand how their target customers see their product and to see where they are in relation to their competitors.All three of these components must be completed correctly or else the whole marketing campaign will be destined for failure. Branding Branding plays a major part in the marketing world. Branding exists so as to differentiate a company's product or service from that of its om petitors. It performs many roles both for the consumer and for the business. In relation to the consumer ,brands allow the consumer to shop with a reduced level of risk due to familiarity with the quality of each brand and this also would lead to a reduction in time spent shopping.Concerning businesses, branding performs a lot of valuable functions. The main function, is brand loyalty as this leads to predictability and security of demand, increased security against competitors and can allow the businesses to charge higher prices. Other roles it plays are, that it offers legal rotection due to trademarks and it can give the business a comparative edge . Companies use brand to install an image in the consumer's head when they hear of ything associated witn that brand. To make sure this is a success they must match all the elements of marketing, such as pricing policy, distribution methods etc. to the image that this wish to create. 7 P's Of Marketing An essential element of the marke ting strategy is the marketing mix. Comprising of product, price, place, promotion, process, people and physical evidence, it allows enterprises to deliver value in conjunction with satisfying consumer needs. Firstly, the product is some good or service that a company offers in the market.. A product satisfies a customers' want or need, and to what degree depends on the quality of the product which is usually quite subjective.Price is the next P and it denotes the monetary value a good is exchanged for. Price plays a major part in the decision making process of consumers. High prices, usually convey a luxurious consumption experience contrasted to affordable low prices offering basic products. Enterprises communicate their products to their target market through adopting and implementing a promotional strategy. Promotional activities seek to inform, persuade and influence the target market. Strategies include; branding, personal selling and advertising.Following on, place is the loc ation of the transaction between the consumer and business, ultimately it is the accessibility of the product to the consumer. There are various channels of distribution both direct and indirect an enterprise may adopt, in order ensure its product reaches the consumer. During the provision of a service, it is the people or staff who exert a major influence as to the outcome of the consumer experience. Therefore, staff must be adequately trained nd equipped with the necessary skills, approach and attitudes in order to achieve the desired outcome an enterprise strives towards.The process an enterprise implements is the way in which business is conducted within an organisation and is seen through the flow of activities. For example, customer-cultivating companies are designed to serve customers and customer segments, this is one part of a potential business process, as seen in the Zara fashion retail example. Finally, physical evidence is how a business presents itself to its target ma rket. It is the outward appearance of the organization and creates an impression on the consumer.

Linguage

Wall Street crush-, it created a split inside the labor leadership so the task would be very difficult. The leader Ramsey MacDonald accepted to form coalition with the conservatives but many others did not accept & he seen as traitor & he was expelled from the party – the Great Betrayal-. The conservatives in 1931 took part in government. -Why would the British go to war after what they had lost in the WWW? – Britain was not in favor of going to another war; it found herself involved in the WI unwillingly.The Germans had invaded Poland, so England was in war against Germany â€Å"the People's War†. In 1940, Churchill became a national coalition government -all parties will Join & make a government-. They were fighting a war, all the effort of the country will be directed to winning it. – Why did labor socialists representatives of the working class Join the government? Preparing themselves for after the war. During war time, the NAG put into place a shared â€Å"head† by a liberal member of parliament.The sociologist â€Å"William Henry Beverage† gave the government the â€Å"Beverage Report† of 1942, in order to offer solutions & look after what was wrong in the war with Britain. The report started to revive the ideas of the â€Å"Welfare State†, which came as an opposition to what Hitler was promising â€Å"Total Destruction†. Welfare through government intervention was what kept the high spirit of people. The pamphlet became a best seller-hope for a better future-. The report had identified 5 giant evils in the British society which had to be destroyed with the government help: 1- bad living conditions. – Diseases 3- ignorance, illiteracy. 4- Poverty 5- idleness, joblessness. These are the evils that a given society face, combated by the government intervention which explains why the liberate did not like the government o interfere in peoples' lives. Labor socialists adopted this idea of w elfare & in 1945 made it part their election program & because of this labor was elected & won the 1945 general election. Armistice was the the signed in the 5 of May 1945; the coalition government kept & waited until July 5 , waiting the soldiers to vote for them.The labor had a very large majority of votes â€Å"landslide victory'. The hero that led Britain to victory & wins the Dark Hours was Churchill. 2- Re-entering peace time: In order to assess labor achievement we should see the context of time, how was Britain after the war? What was the social, lattice, economic reality of that time? There were deaths â€Å"sass's†, widows & orphans as a negatives social consequence for the country. Britain had to payback huge depths due to the finance in the war, as the country borrowed money from the US, Canada & Australia.Britain's infrastructure was terribly damaged, factories, bridges, in this period she was facing reality. Politically: India, new powers were emerging like the US. 3- Laborer's achievements: 1- Economic side: 1945, labor government began to nationalize, take into control. E. G. The Bank of England â€Å"the Central Bank†, also it nationalized the coal lines. In 1946, it nationalized the transport industry, civil aviations, ports, airways, energy sifter and gas.Also, in 1948 the iron & steel industry with big difficulties. There was resistance from the owners because it was a highly profit making industry. But the coal owners were happy to sell their lines since they already were striving. Labor government nationalized about 20% of the economic sectors; the rest remained in private hands, why? – Labor implemented a social democracy, this 20 % created a debate within the party. The Clause 4: State Ownership of All means, production, exchange, distribution.Keynesian T. M. Keynes: the Theory of the Demand Management. 2- Political side: there were two sides – domestic & foreign- : Domestic side: there were no major changes , as the monarchy was not abolished, & the House of Lord which was not elected but mainly hereditary. But labor reduced its power in 1949; it could no longer stop a law in the House of Commit, it also lost its power to Veto. Foreign side: Labor Joined NATO: the North Atlantic Treaty Organization, which had a big financial cost.At this time, the labor Government embarked on a nuclear program â€Å"Atomic Bomb† as many other countries, despite the opposition of the US to to do so; this cost a lot for the country which is not a productive program in the short term & this was while Britain was in need for money, but it has a long term benefits as developing technology; from the military side, it's a kind of a buy product, the government accepted to withdraw India – the beginning of the end of the British Empires- Social side: the British labor party was a pioneer in introducing the Welfare State.Squirrel had to be fought by offering housing & town planning; it was done thr ough encouraging private & local authorities building new towns, but there as a shortage of raw materials & skill owners. As the need was important, tour blocks or high rise flats. British housing changed because of the urgent need built by the local authorities & rented for the people. Result: Labor made the class the division more visible separating the classes which was what they were aviate.Moon 14 December 2009 Social: through legislation, labor defeated the housing problems as well as the other evils, that was in giving employment offers, child allowance for families; education or illiteracy was defeated through the Buckler Act 1944 which is an education act that add secondary education free & compulsory from child age 6 to 1 5 for each English child. There also existed private schools -Public- & Seven state schools. The evil of unemployment tried to be defeated through nationalization.For diseases or illnesses there was the implementation of a INS National Health Services 194 8 made to provide medical care for all; it was free at the beginning but after one or two years people started to pay. Generated by Fixity PDF Creator O Fixity Software Result: There was a sort of broken promises which created a lot of discontent within he labor leadership party & the public felt that it was a betrayal. The labor http:// www. Fox-trotted. Com For evaluation only. Deed money that they have taken it from other sources, since the country invested in the nuclear program & built many houses, labor was very proud that it has implemented â€Å"the Welfare State† â€Å"State help from Cradle to Grave†, also it meant to be a safety net. These were more significant achievements of the welfare program. Why did it lose in 1951? Labor was obliged to run new elections, there was some infighting inside. There was an internal division between the left, centre & right.The labor party was never homogeneous, also the problem of inflation because the Pound Sterling in 194 7 was devaluation which created inflation, the cost of ling was very expensive so the public was unhappy. Another reason which created devaluation especially within the middle class was that labor created Rosining!!!! In order to create a sense of equality but it created dissatisfaction among the middle class which usually follows a black market. Wartime: what was promised during the war, in-between the interwar years?Before coming to power – 45- , what was the situation of the country? What the labor did or failed to do? What was the promise? What was the social, political & economic reality? Labor party achievement could be asserted through time, what did it achieve? The nuclear program which is debatable made Britain a powerful country, many people were afraid of this program & there was going to be a Cold War. Economic side: nationalization, taking into state country.The point is that the British didn't have the experience of state sectors, now the government was going to manage these sectors, which objectives would be to create Jobs with no competition since state impasses are monopolies, It was no change for workers these state companies are going to be over manning, having more workers than needed, these state companies are going to be lose making, black holes, the alternative would be to give it subsidies SF State Financial Help to rescue them. The state would get the money from taxes causing the big managers to emigrate.So, nationalization was an issue for the future years. The welfare state was created through social policies which interact with the economy which is a political decision. Labor accepted to intervene in people's life wrought political decision. How is it going to be financed? How do we pay for these services? From tax payers, we have two kinds: direct & indirect 1- The working people -income taxes that goes to the & Indirect VAT Value Direct Tax TVA, as alcohol & tobacco. Sometimes on imports. There are two main ways, of course another source which is the N. I. C National Insurance Contribution.All this will be part of what would be called the Budget that will be given to different ministries each responsible of a sector. Giving this situation, the Welfare State, when you look & assess it through mime, you see that what characterizes it is that the middle class would make the most profit of it. Therefore, people from the left & right would criticize it. The social policy should be looked from 3 parts: short, long & medium term: since it might solve problems TODAY but what about LATER? E. G. Housing has more or less solved problems but later people will have more children who will be unemployed.As far as the health services, we get into problems of term, e. G. Population after the war was in bad shape, but after it started to increase meaning more demand for health care nice medicine is developing as a result, the cost is increasing. Population becomes older so they needed social services e. G. Home for Old s. Therefore, we get into spiral; someone needs to pay for this. Also, concerning education & extending school life which is another cost for the country. All of these social costs became known as The Bottomless Sectors. There was always room for improvement. Becoming more & more expensive, how was it going to be financed?Should health be only for the people who can pay for it or everybody? Healthy country is more productive as well as education hat creates a wealthy society, but the key is who's going to finance? A Welfare State will be costly but is it necessary? The private sectors might be performing better because they are paying, but the state sectors are underfeed. It is up to the society to decide what kind of Welfare they want for the country. The Nanny or Milky Cow will be taken advantage from by some people. Dependency culture, scroungers = the 4 January 2010: people living in the back of others.The Welfare States' help sustain capitalist society. Marxist, believed in Cla ss Struggle. Social policy, it interacts with economy as it has a elation with politics but at the call of it, it's a social policy because some governors liked it others not because of how it was financed â€Å"taxation†. How much people are going to accept to pay? A social policy can be on a long, short or big or term, the rewards might come later (housing 45/ 54) inhabited by the working class, they had solved a short term problem but later on it created problems, people will pay more & more taxes.Marxist believed in the class struggle that without the welfare state the working class would revolve, life as a class struggle that without the Welfare state the t working would revolt; he also criticized the welfare state because the middle class would be the 1 t profit from it. The capitalists, people who believed in the laissez- fairer, self-help, it was for them a question of paying â€Å"the richer you are the more you pay' because they have their own private sets, they ha ve means to have access to better benefits since they pay.The state sector is under stuffed not highly efficient; it's never enough this is the dilemma of the welfare states. People of the right criticized the welfare states because it created a dependency culture, it is called the ilk cow and there were many scroungers. The Welfare State is rewarding for society because it can offer a better educated society, after 1945 education was for all, health after that bettered – they lived longer- but with it there is a cost â€Å"Taxes†. Rewarding is costing & necessary because without a minimum welfare state, a revolt might happen.As we shall see, the classes were divided but with time there will be an underclass of those who were excluded & merged from society; the British have accepted the idea of providing some help. The Welfare State -Milky Cow- can provide milk as long as there is green grass in the entry, I. E. A healthy economy, when you have it, you don't have a lot of unemployment, the problem is when there are a lot of people out of work, the government will pay for them which will be costly.The problem of taxes is a political decision, are you willing to redistribute the wealth â€Å"make the rich richer or less rich† as we shall see, it's the wealth of people who has a say. The party's program says â€Å"promises to spend more†; it's up to people to decide. The welfare state is a problematic issue. SST Economically: Nationalization, another issue which was 1 implanted by the labor overspent of 45-51 , state took control of some strategic sectors 25% was going to be managed by the state, coal, iron, transport†¦ Through Act Legislation.These sectors were employing large numbers of people e. G. 5 million people in the Coal industry; these large numbers would be represented by the trade union who had a good power. The bosses' objective was not only to make profit, priority was to provide Jobs because after 1945 it was the ti me of reconstruction and it needed a full employment. Also, not to forget, the British industries in the mid of 21st Century was coming old as the coal & iron equipments needed to be renewed â€Å"invest more money on these equipments†.Moreover, with the pressures of the Trade Union, wages increased & the British companies started to become over-manning â€Å"more workers than necessary', as a result, the return of the Law of Diminution & later on -ass's- inflation -Prices increase-will begin. Http:// www. Fox-trotted. Com For evaluation only. They would get By this loss making, they could reduce workers â€Å"private†, or subsidies, more taxation â€Å"State Financial Help† they would create discontent, closing a state company would be seen as a political suicide.There were monopolies because there was no competition, the quality was not great & the prices were low. As a result, The British people would buy foreign products since they are cheaper, there would be more imports & a little export, no balance â€Å"the country is going to be in red, it could reduce the value of the currency in order to export† another alternative was to increase taxation or to print money -monkey money instead of Sound money = solid- .This is how the nationalize Sector was going to find itself because it was monopolistic & uncompetitive; Britain industry became now as the Lame Duck Industries. Post War Consensus: it is a general agreement, compromise between different members of society, it is not written and is not a law, gathered by different components of society as a result of history (Britain was lucky because it has one dominant language, one religion and has only white people I. E. No ethic groups), Britain's' history had played a big role in shaping herself; it became a nation state earning†¦Monarchy has been there, so there is an agreement on an institutional Monarchy & religion is set. Post war was about how to rebuild the country; a hou se is lilt with Pillars -it was an agreement on pillars-: we are interested in the 4 pillars that England united in wartime on which post-war Britain was going to be reconstructed: 1- The Welfare State, it is the 1942 Beverage Report, well-being of citizens -social side. 2- Government intervention in economy, mixed economy, it is Keynesian through the acceptance of John Keynes theory. – Belonging to NATO North Atlantic Treaty Organization, Western Allies. 4- Trade Unions' reconciliation with the government; now they are partners & they have some power, a 3 parasite: Government, Trade Union and Representatives + Bosses. The post war consensus had gone through different stages; it was introduced and established during war time by the four elements mentioned above. 1945- 1951 the labor maintained the consensus The Thirteen Wasted Years, 1951-1964: Three concussive conservative prime ministers in government; Winston Churchill.Anthony Eden Harold Macmillan; they did not undo anyth ing & they kept the Welfare State because it is a symbol of socialism & kept negotiating with the Trade Union. These years were good for Britain; it was the age of affluence- plenty of things- the age of prosperity & full employment, he age consumerism, cars, fashion & music. The age of cinema, movies, sports & leisure; it is the beginning of a permissive society. It is wasted years because labor who planted & concoctive who fruit from it. People wanted what was available or provided.The British politicians were divided on the issue of the Suez Canal, in the 1959 general elections the labor party did not use the 1956 humiliation -the war between Britain, France and Israel- because it was for all Britain not only one party but a defeat for Britain. In this stage, the conservatives did not change a lot, their only changed was the prevarication of iron and steel industry because, as we said, during the ass's and early ass's there was prosperity and full employment as the youth started to enjoy their life.It was easy to keep consensus, but 1964-1970 is the return of labor, people for some reason were fed up of the conservatives. We can say that consensus is sustain, keep it with some difficulty, the beginning of troubles, Britain started declining & the British from different parts started to accept this idea of decline. 1964 labor came to modernize Britain, now there is inflation. Some people ill begin losing Jobs workers want more wages†¦ 1964- 1970: labor party under Harold Wilson, consensus was sustained, difficulties and the British started to speak of crisis and decline.The British economy was prosperous but not as her competitors, Britain began to lose some trade as a result unemployment problems appeared. Britain lived on exports and her competitors were making better and cheaper products. Thus, it lost exporting which led to unemployment later to inflation. Therefore, trade union asked for higher wages leading to strikes in the middle of the ass's, c onsequently, trade unions' reconciliation was no more valid. It had acquired power in favor; this power has become a problem for government, so the Labor Party started to think of reducing T Vs. power, I. . , putting commission led by Baroness to stop the T. V power, the L P at that time wanted more planning of the economy to modernize Britain, it had a control on the economy of Britain. People of money were afraid of the L P government; they became more socialist and started to invest outside what led to a shortage of money. In 1967 labor devalued, I. E. , lost its value in the next election because they lost the support of trade union and some people. Remark: because of the economic problems, the labor government forced to go to the I. M.F -international Monastery Fund- for a loan to ease then through their financial troubles, what meant the adoption of more liberal economic program by the Labor Party. British Decline: Britain after the WI was in reconstruction; it reconstructed i tself by providing employment, in the late ass's and ass's entered in a period of affluence; people had money in their pocket, Jobs were available, it is an age of affluent society, the age of love and peace, television and music as well as automobiles which became accessible to use. However, in the Middle of the ass's, people started to speak about the sick man of Europe.They discovered that their economy did not grow as its competitors, Japan, Germany, USA and France who were doing better. Also this sick man was characterized by the rise of SST inflation, of course, we are dealing with the 1 industrial nation and we compare it when Britain was a vast Empire, where Britain was the workshop of the world described by the bygone age. The acknowledgment of this loss was in the middle of the ass's because many British refused to accept this new position and they believed hat there was still an empire after the WI, but the loss of the Jewel of the Crown – India- was the best illus tration of this loss.The British decline has to be understood as a loss of power, spread of crisis, troubles and disorder. The most unarguable fact is that the seeds of Britain's decline are seen mostly in all fields and in particular political and economic ones that eventually led to the deterioration of its position. Causes and consequences of the British Decline: As far as the causes are concerned, we have two perceptions, we have the LEFT POINT OF VIEW that supported the State interference and socialist communism planning, and we have the RIGHT POINT that had its own argument.Concerning the left point, they thought that the decline had roots in the Victorian Britain where we find society of contrast paradoxes; there were also political, economic and social causes. Beginning with the political causes, in fact one of the most disappointing causes that Britain endured is the effects of two world wars which diminished its role as a world power. Though Britain's decline during the tr oubled years was arrested; it constructed her economy rapidly often theWI and it remained in late sass's an extremely rich country but the heavy costs of the war and the millions causalities weakened her capacity to maintain the vast empire. Another feature to this decline in world power was the loss of some territories e. G. India (with the rise of colonial nationalism) which was one of the most important components of the British empire since it was its largest source of revenue. Thus the loss of India meant the beginning of the end of the British Empire. N.B.: the end of the British rule in Ireland had also been a negative effect on Britain rower.Moreover, the Empire did not really benefit Britain; in fact, it was made by industrialists and traders who exclusively benefited from it. Also, in case of a problem the beneficiaries were the few and the expanses of the problem come from tax payers, the best example is the Ireland problem, also because they had two party systems: the li berals and the conservatives. Nevertheless, the most striking point was when the left stressed its criticism on the Laissez-fairer ideology which had a sense of paradoxes; it was advocated in Britain and in its colonies people were not free.

Mano and Other Words That Break Spanishs Gender Rule

Mano and Other Words That Break Spanish's Gender Rule Spanish nouns that end with -o are masculine, and ones that end with -a are feminine, right? Well, almost always. But there are exceptions to the  gender  rule, of which the two best-known are mano, the word for hand, which is feminine; and dà ­a, the word for day, which is masculine. So you can talk about la mano and las manos  and well as el dà ­a and los dà ­as. Key Takeaways Most Spanish nouns ending in -o are masculine, and most ending in -a are feminine, but there are exceptions.Some of the exceptions occur because of how the words were treated in other languages, such as Latin and Greek.Many nouns that refer to jobs or roles of people can be either masculine or feminine depending on the person they refer to. 6 Ways in Which the Rule Is Broken Exceptions fall into six  categories: Words that are shortened versions of other words. For example, la foto (photograph) is feminine because its short for la fotografà ­a.Words that end in -ista as the equivalent of the English -ist. For example, dentista can be either masculine or feminine depending on whether the dentist referred to is a man or woman. A few words with other endings are treated the same way. For example, modelo can be either masculine or feminine when referring to a human model, but masculine in other uses (such as when referring to a model airplane).Words whose meanings vary depending on the gender. For example, in some areas, la radio means radio, while el radio means radius or radium. Sometimes la radio is used to refer to the communications medium and el radio for a radio set.Some masculine words that come from Greek and end in -a (often -ma). Most of these words have English cognates.A few compound nouns, which are traditionally  masculine, even when the noun portion comes from a feminine noun. Words that are just exceptions, such as mano and dà ­a. Usually these exceptions come from the way the words were treated in Latin. Here is a list of the most common exceptions to the masculine o, feminine a rule: el aroma - aromael Canad - Canadael clima - climateel cà ³lera - cholera (but la cà ³lera, anger)el cometa - comet (but la cometa, kite)el cura - male priest (but la cura, cure)el dà ­a - dayel diagrama - diagramel dilema - dilemmael diploma - diplomala disco - disco (short for la discoteca)el drama - dramael enigma - enigmael esquema - outline, diagramla foto - photo (short for la fotografà ­a)el guardia - policeman or male guard (but la guardia, vigilance, policewoman or female guard)el guardabrisa - windshieldel guardarropa - clothing closetel guà ­a - male guide (but la guà ­a, guidebook or female guide)el idioma - languageel idiota - male idiot (but la idiota, female idiot)el indà ­gena - indigenous male (but la indà ­gena, indigenous female)la mano - handel maà ±ana - near future (but la maà ±ana, tomorrow or morning)el mapa - mapla modelo - female model (but el modelo, male model)el morfema - morphemela moto - motorcycle (short for la moto cicleta)la nao - shipel panorama - panorama, outlookel papa - pope (but la papa, potato) el planeta - planetel plasma - plasmael poema - poemel policà ­a - policeman (but la policà ­a, police force or policewoman)el problema - problemel programa - programel quechua - Quechua languagela radio - radio (short for la radiodifusià ³n; but el radio, radius or radium; usage of the feminine form depends on the region)la reo - female criminal (but el reo, male criminal)el reuma, el reà ºma - rheumatismel sà ­ntoma - symptom, signel sistema - systemel sof - sofala soprano - female soprano (but el soprano, male soprano)el tanga - G-stringel telegrama - telegramel tema - theme, subjectel teorema - theoremel tequila - tequila (short for el licor de Tequila)la testigo - female witness (but el testigo, male witness)el tranvà ­a - streetcar Gender for Names of Occupations and Other Roles Most words that refer to peoples jobs or roles, many ending in -ista or -eta, that can be either masculine or feminine are not listed above. Most have English cognates. Among the abundance of words that fit that category are el/la atleta (athlete), el/la artista (artist), el/la astronauta (astronaut), el/la dentista (dentist), el/la comentarista (commentator), el/la izquierdista (leftist or left-winger), el/la oficinista (office worker), el/la poeta (poet), el/la profeta (prophet), and el/la turista (tourist). Feminine NounsThat Use El Also not included in the list are combinations such as el agua (water) - feminine words that begin with a stressed a- or ha- and are preceded by el in the singular form only. Others are el guila (eagle), el ama (woman of the house), and el alma (soul). But note that the normal rules are followed in the plural form: las aguas, las guilas, las amas and las almas. With these words, el doesnt indicate gender but is used instead for ease of pronunciation. It is similar to the way in which Englist substitutes an for a in front of some nouns, as the rule applies to the opening sound of the word, not how its spelled.

Ffdfd Essay Example

Ffdfd Essay Example Ffdfd Essay Ffdfd Essay Tractors: MILLAT TRACTORS LIMITED Analysis of Financial Statements Financial Year 2004 Financial Year 2010 July 27, 2011 RECORDER REPORT 0 Comments Millat Tractors Limited (MTL) was established in 1964 to introduce and market Massey Ferguson (MF) Tractors in Pakistan. An assembly plant was set up in 1967 to assemble tractors in semi-knocked down (SKD) condition. The company was nationalized under Economic Reforms Order in 1972 and started assembling and marketing tractors on behalf of Pakistan Tractor Corporation (PTC), which was formed by the Government for import of tractors in SKD condition. In 1980, the Government decided to produce indigenous tractors and entrusted this task to PTC. In 1981, the MTL took over this task. This was the turning point in the companys history and it went about the task methodically and rapidly. Just in one years time, the company took a giant step towards self-reliance by setting up the first engine assembly plant in Pakistan. The MTL made a strategic decision right in the beginning to bring those manufacturing facilities in-house for which capabilities did not exist in the country and for parts, which required high precision and investment. Therefore, in 1984, sophisticated manufacturing facilities for the machining of intricate components were set up. Currently, critical components like engine blocks, sump, transmission case, axle housing, hydraulic lift cover, front axle support and centre housing are all being machined most successfully in-house at MTL from local sourced castings. In 1992, the company was privatised. The employees joined hands and took over the management by winning an open bid. To maintain its leadership role in tractor manufacturing in the country, the MTL continues to look towards future, to identify and exploit new opportunities and to consolidate existing ones. The Tractor Assembly Plant is part of this philosophy. The plant started its production in 1992. The establishment of this modern plant not only increased production capacity to 16,000 tractors per year on a single shift basis, but also provided a quantum jump to the quality of the assembled tractors and pushed the MTL into the ranks of the major tractor manufacturing companies of the world. : In 1993, MTL also acquired the management control of Bolan Castings Limited (a Public Limited Company specializing in intricate automotive castings) in partnership with employees of the company, in 1993. The company established a new company named Millat Industrial Products (Pvt) Limited to manufacture quality automotive batteries, thus enabling the Millat Group to capture the efficiencies associated with vertical integration. In addition, the Millat Group comprises of Bolan Castings Ltd. , which produces thin walled castings such as engine block, cylinder head, centre housing etc. Also, Millat Equipment Ltd. produces gears and shafts of international standard for tractors. However, these subsidiaries contributed 1. 18% to MTLs consolidated net sales and 8. 15% to consolidated profit after taxation in FY10 (1. 14% and 6. 50% respectively in FY09). Due to low contribution to consolidated MTL performance, the financial analysis in this report is based on MTLs standalone tractor operations. Recent results (1Q11) The company achieved a sales volume of 29,718 Tractors in these nine months as against 28,939 tractors for the corresponding period of last year, showing an increase of 2. %. During current period, 30,638 Tractors were produced as compared to 29,865 tractors for corresponding period last year, showing an increase of 2. 6%. distribution and marketing expenses actually declined to Rs 431 million as compared to Rs 500 million, while the administrative expenses increased. Operating profit was slightly higher at Rs 2. 3 billion as compared to Rs 2. 2 billion in the same period last year. Other operating income was however higher by 60. 8%, thus pushing the overall income higher. Pre-tax profit for nine months amounted to Rs 2,594. 1 million as compared to Rs 2,355. million of the corresponding period of previous year showing an increase of 10. 2%. Profit after tax increased to 1,807. 2 million from 1,609. 5 million of the corresponding period of previous year, showing an increase of 12. 28%. EPS was recorded at Rs 49. 37 as compared to Rs 43. 97 the same period last year. A new high-spec tractor model in 50hp range the MF-350, was developed for the small to medium sized farmers. The product was well received and was highly appreciated by the farming community due to its improved features such as power steering, oil immersed disc-brakes, heavy duty straddle axle etc. With the inclusion of this new model, Millat now offers a range of six tractor models that best suit our agro-climatic conditions, size of farms and buying capacities of the farmers. Presently, MTL has the highest deletion level of 90% and 55% in low engine and high engine capacity tractors respectively. The lower deletion level in high engine capacity tractors still makes it susceptible to exchange rate fluctuations. In the wake of appreciation, the company is therefore at a greater advantage and vice versa. Millat Tractors has the potential to export the tractors but is restricted because of the agreement with their principals M/s AGCO. RECENT PERFORMANCE (FY10) Net sales increased by 39. 53% from Rs 15. 91 billion in FY09 to Rs 22. 20 billion in FY10. This was due to the increased production of tractors, which enabled Millat tractors to fulfil the unmet demand for tractors in the market. This was a significant achievement for Millat Tractors, as its major competitor, Al-Ghazi Tractors, did not witness any significant increase in sales due to restricted production capacity. The demand for tractors rose due to government support schemes like the Benazir Tractor Scheme. Cost of sales increased by 36. 03% from Rs 13. 0 billion in FY09 to Rs 18. 37 billion in FY10, due the depreciation of PKR against JPY, USD and GBP over July 2009-June 2010. This, coupled with the rise in steel prices, negatively impacted the margins of auto manufacturers and assemblers who import steel and the required components from Japan or elsewhere. With major imports of CKD kits coming from UK, the gross profit of the company is directly related to the Pound Sterling to Rupee price movement and leaves the company susceptible to changes in exchange rate. This resulted in a net 59. 15% increase in gross profit, from Rs 2. 1 billion in FY09 to Rs 3. 83 billion in FY10. Millat Tractors also managed to boost its fundamentals in the operating expenses category, allowing a minor 5. 71% increase in distribution and administrative expenses. Thus the operating profit increased by a large 79. 04%, from Rs 1. 76 billion in FY09 to Rs 3. 14 billion in FY10. Other operating income greatly increased by 126. 47% mainly due to increase in gain on sales of short-term investments. Other operating expenses increased by 52. 54% due to investment in workers profit participation fund. Thus an 86. 1% increase was recorded in the EBIT from Rs 1. 79 billion in FY09 to Rs 3. 35 billion in FY10. Finance cost decreased by 76. 15% due to settlement of short term borrowing from banks, leading to a marked reduction in finance cost. However, taxation incr eased by 95. 85% due to imposition of 17% Value Added Tax on local tractor sales. Thus the profit after taxation increased by 88. 01%, from Rs 1. 22 billion in FY09 to Rs 2. 28 billion in FY10. A lesser increase was witnessed in the earnings per share, which increased by 50. 40% from Rs 51. 87 per share in FY09 to Rs 78. 01 per share in FY10. Market comparison The demand for tractors increased significantly in the year 2009-10. The industry booked a total of 74,000 units as against 40,836 units booked in the preceding year, thus registering an increase of 81%. Federal and Provincial tractor schemes and better support prices of crops, especially wheat and rice, were the main contributing factors towards increase in demand. However, the governments role as not entirely supportive of the industry as import of tractors was allowed free of taxes or duties while the local industry was subject to tariffs under the Tariff Based System. However, despite these odds, Millat Tractors continued to dominate the market and retained its market share. At present there are two tractor companies in Pakistan, which are involved in manufacturing of indigenized tractors: a local company, Millat Tractors Limited, which produces Massey Ferguson Tractors under franchise from AGCO; and Al-Ghazi Tractors Limited which is an entity of a foreign UAE-based Group Al-Futtaim purchased under privatisation in 1992 and manufacturing Fiat New Holland tractors. Millat Tractors possesses 57% of the market share while the rest 43% is held by Al-Ghazi Tractors. The production capacity of each company is currently 30,000 tractors per annum, although Millat Tractors achieves this capacity in double shifts whereas Al-Ghazi Tractors needs to employ a single shift only, due to its larger plant size. In the past, both the companies had failed to meet the supply against increasing demand and the limited capacity of production resulted into abnormal delay in deliveries to the farmers. Thus in FY10, Millat Tractors adopted the policy of working on overtime schedules, to meet the high demand, resulting in a significant increase in sales and profitability from 29,785 tractors produced in FY09 to 40,177 tractors produced in FY10. The sales statistics in terms of the number of tractors similarly increased from 30,234 to 40,080. However, the major competitor, Al-Ghazi Tractors, did not manage to increase its production, where production marginally from 30,183 units in FY09 to 31,430 units in FY10. The market comparison ratios are based on the financial statements of Millat Tractors and Al-Ghazi Tractors for FY10. The financial year of Millat Tractors ended on 30th June 2010, whereas Al-Ghazi Tractors ended its financial year on 31st December 2010. Hence this market comparison is only indicative as the companies may have been subject to different market conditions over their respective periods under review. The profitability ratios show that Millat Tractors achieved a 17. 27 gross profit margin in FY10, compared to 18. 51 of the industry average. This indicates that Millat Tractors is achieving its profit margins satisfactorily, although its competitor Al-Ghazi Tractors is better able to manage its cost of goods sold. The net profit margin of Millat Tractors is similarly slightly lower at 10. 29 compared to 11. 54 prevalent in the industry. Return on assets for Millat Tractors is also lower at 19. 42, compared to the 22. 16 industry average. This means that Millat Tractors is not fully deploying its assets to generate the maximum amount of sales. However, return on equity is much higher at 54. 49 compared to 42. 5 industry average. This is because Millat Tractors has a much lower proportion of equity in its equity-liabilities structure, and coupled with an impressive profitability performance, this gives rise to a high return on equity. The current ratio of Millat Tractors is lower at 1. 40 compared to 3. 57 for the industry. This is because Al-Ghazi Tractors has much lower amount of trade payables, Rs 1. 24 billion, compared to Rs 7. 48 billion of trade payables on Millat Tractors balance sheet. However, since the current ratio of Millat Tractors is higher than the benchmark of 1. 0, it means that Millat has a sound liquidity position and unlike Al-Ghazi, it does not hold excess current assets on its balance sheet. The inventory turnover of Millat Tractors at 40. 15 days is higher than the industry average of 33. 01 days. This indicates that inventory management at Millat Tractors is poorer, thus requiring more number of days to sell the entire inventory stock on hand. However, this can be expected with Millat Tractors approach of meeting the unmet demand for locally manufactured tractors. The day sales outstanding for Millat Tractors is also higher at 7. 37 days compared to 6. 7 days for the industry, due to the higher trade debts of Rs 454 million fort Millat, compared to Rs 364 million for Al-Ghazi. This implies poorer receivables management at Millat, although the higher receivables are to be antic ipated in line with Millats higher sales. Overall, the operating cycle at Millat was recorded at 47. 52 days, compared to 39. 88 days for the industry. Total asset turnover for Millat Tractors was slightly lower at 1. 89 compared to 1. 92 for the industry, implying that Millat has yet to achieve the high sales turnover in line its investments in assets. However, sales to equity ratio for Millat is 5. 0, higher than the industry average of 3. 83. This is to be noted in connection with the fact that the equity-liabilities breakup of Millat is Rs 4. 19-7. 57 billion whereas Al-Ghazi employs Rs 6. 36-1. 30 billion of equity-liabilities. Thus the lower proportion of equity and high sales at Millat Tractors enables it to enjoy a high sales to equity ratio and this indicates a proper utilization of equity investment to generate the healthy sales turnover. The debt to asset ratio at Millat is higher at 64. 37 compared to 40. 69 for the industry, hence the industry can be deemed to be able t o meet its debt bligations in a better manner, compared to Millat. Similarly, the debt to equity ratio is higher at 1. 81 compared to 1. 01 prevalent in the industry. However, this implies the usage of more leverage at Millat Tractors, which is a positive indicator of being able to generate a high return for investors. Times interest earned for Millat Tractors is consequently lower at 352. 30 compare to 1271. 86 for the industry, due to the employment of Rs 10. 29 billion security deposits borrowing whereas AL-Ghazi does not employ any borrowings. However, Millats long term debt to equity ratio is lower at 0. 3 compared to 0. 51 for the industry, implying that the greater proportion of Millats debt is in the category of current liabilities. In line with its impressive profitability performance in FY10, Millat achieved higher earnings per share of Rs 78. 01 per share compared to Rs 61. 24 for the industry. The positive indicators of profitability performance were accordingly transmit ted to the market, hence the market price for MTL stock averaged at Rs 395. 97 per share in FY10, compared to Rs 306. 30 per share for the industry. The price earnings ratio for Millat was also slightly higher at 5. 08 compared to 4. 8 for the industry, indicating that the strong position as the market leader was greatly reflected in the share price of MTL stock. Millats profits were reflected in the dividend per share, which was recorded at Rs 65. 00 per share compared to Rs 43. 75 per share for the industry. However, the book value per share was lower for Millat Tractors at Rs 143. 16 per share compared to an industry average of Rs 219. 92 per share. This was due to a higher total shareholders equity at Al-Ghazi Tractors of Rs 6. 36 billion compared to only 21,468,200 shares, whereas at Millat the figures were Rs 4. 9 billion of equity with 29,284,400 shares. Stock performance Stock returns of weekly continuously-compounded returns over January-December 2010 shows that the standar d deviation of these stock returns is fairly high at 5. 83%. The future stock returns are expected to vary with a standard deviation of 5. 83%: this is to be expected from MTLs high capital gain and healthy dividend payout stock. In addition, the stock price has consistently exhibited an increasing trend throughout FY10, which reemphasizes the strong position of Millat Tractors in the tractor industry. Beta analysis of the company stock over Jul09-Jun10 shows that the beta of Millat Tractors is relatively low at 0. 45, as given by the slope of the trend line. This indicates that the stock is not highly reflective of KSE-100 performance. However, this means that the market factors influencing KSE-100 do not greatly impact Millat Tractors and the company is well poised to outperform the market, in line with its strong fundamentals and secure positioning in the tractor industry. Financial analysis (FY04-10) The profitability ratios of Millat Tractors improved significantly over FY09-10. The gross profit margin improved from 15. 4 in FY09 to 17. 27 in FY10 due to the well-managed cost of goods sold, even in the scenario of depreciating PKR and rising steel prices. The net profit margin increased by a larger amount, from 7. 64 in FY09 to 10. 29 in FY10 since the operating expenses were only allowed a 5. 71%, thus preserving the gross profits of the company. Return on assets increased fr om 17. 91 in FY09 to 19. 42 in FY10 on the back of an 88. 01% increase in profit after taxation, compared to a 73. 47% increase in total assets. The increase in assets was driven by an 86. 73% increase in current assets resulting from a 19. 0% increase in stock in trade, 257. 26% increase in trade debts and a 250. 83% increase in short-term investments. Return on equity increased from 36. 05 in FY09 to 54. 49 in FY10 due to the 88. 01 increase in net income, compared to a 24. 37% increase in total equity. The increase in equity resulted from a 57. 70% enhancement in unappropriated profit, pointing to the strengthening bottom-line of the company. The current ratio decreased from 1. 69 in FY09 to 1. 40 in FY10. This was the consequence of an 86. 73% increase in current assets as mentioned above, compared to a 124. 83% increase in current liabilities. Current liabilities mainly increased due to a 139. 60% increase in trade payables. The increase in current assets and current liabilities was the result of higher working capital requirements at Millat Tractors, in order to sustain the 39. 53% increase in sales over FY09-10. Asset management ratios analysis indicates that inventory turnover decreased from 48. 74 days in FY09 to 40. 15 days in FY10 due to 19. 20% increase in stock in trade. Thus the improved bottom-line performance at Millat Tractors was driven by an increase in sales augmented by improved inventory management, as a result of the implementation of IFS software. However, the day sales outstanding increased from 2. 88 days in FY09 to 7. 37 days in FY10 due to the increase of 257. 26% in trade debts. This points to deteriorating receivables management at the company which resulted in more number of days being required to recover trade debts. Overall, the operating cycle decreased from 51. 62 days in FY09 to 47. 52 days in FY09. Total asset turnover decreased from 2. 35 in FY09 to 1. 89 in FY10, indicating that Millat Tractors has yet to generate a sufficiently high sales turnover to justify the 73. 47% increase in the value of total assets portfolio over FY09-FY10. However, the sales to equity ratio improved from 4. 72 in FY09 to 5. 30 in FY10 due to the lesser 24. 37% increase in total equity compared to 73. 47% increase in total assets. Debt to assets increased from 50. 30 in FY09 to 64. 37 in FY10 as a result of the 121. 97% increase in total liabilities compared to 73. 47% increase in total assets. This implies decreasing ability of Millat Tractors to meet its debt obligations, which are mainly in the category of trade payables; trade payables increased by 139. 60% over FY09-10. Similarly, the debt to equity ratio increased by a lesser amount, from 1. 1 in FY09 to 1. 81 in FY10, because the increase in equity was lesser at 24. 37%. While this bodes negative for Millat Tractors, it also indicates that the company is employing a greater amount of leverage in its working capital requirements, which is likely to enhance sales of the company and ultimately generate higher return for investors. In addition, long-term debt to equity decreased from 1. 53 in FY09 to 0. 43 in FY10, since a 65. 17% decrease was recorded in long-term liabilities. This was mainly due to settlement of deferred revenue and decrease in deferred tax liability. However, the times interest earned increased significantly from 44. 09 in FY09 to 352. 30 in FY10 due to the 86. 71% increase in EBIT coupled with the 76. 15% decrease in finance cost. Finance cost decreased due to the settlement of short-term borrowings since the mark-up accrued on short-term borrowings in the current liabilities category also decreased by 42. 87% over FY09-10. The earnings per share of Millat Tractors increased from Rs 51. 87 per share in FY09 to Rs 78. 01 per share in FY10 on the back of high profitability achieved in FY10. The market price per share also exhibited a strong growth from Rs 227. 0 per share in FY09 to Rs 395. 97 per share in FY10. The growth in profits was shared with the stockholders, by increase in cash dividends per share from Rs 45. 00 per share in FY09 to Rs 65. 00 per share in FY10. Thus MTL stock proved to a high capital gains as well as a high dividend payout stock. Thus the price earnings ratio increased from 4. 38 in FY09 to 5. 08 in FY10, as the healthy performance of the company based on strong fundamentals, was reflected in investors perceptions and the market price of the company. However, the book value per share remained almost constant from Rs 143. 88 per share in FY09 to Rs 143. 6 per share in FY10. This was because the increase in total shareholders equity was 24. 37% compared to a 25% increase in total number of outstanding shares over FY09-10. Future outlook Today, Millat Tractors Limited is the leading company that specializes in the manufacturing of tractors, diesel engines, Forklift Trucks, and a range of other agricultural equipments. Presently the market share of MTL hovers around 57% in terms of sales. With a present production capacity of 30,000 tractors, the company plans to expand it to 40,000 in the years to come. Capacity utilization, however, exceeds 150%. Machining capacity of major components is being bolstered along with Double Shift operation to come at par with the ever-growing demand. High price of oil in the international market is creating inflationary pressure in the economy. As a result, the cost of borrowing has become higher than the preceding years. This coupled with worldwide shortage of steel is gradually rendering the company inefficient in terms of manufacturing cost. Furthermore, the GoP has regulated the prices of tractors. This coupled with lower deletion level for new entrant is creating an uneven playing field. However, the proposal to allow local assemblers to increase the price of agricultural tractors is under consideration. This will provide a breather to the company and will consequently augment the company revenue. Worst energy crisis prevailing in the country and lack of skilled manpower are the major risks which are being addressed through standby energy arrangements and in-house training of workforce. The recent natural catastrophe in the form of floods has worsened the conditions and has posed new challenges of rebuilding the infrastructure and rehabilitation of farming community. Development of new products through innovation and diversification remain in focus for continued growth and progress. Millat has made investments in new machining lines for cylinder block and engine head to maintain high quality standards. In addition, implementation of the IFS software means that the procedural automation and visibility brought by IFS would enable Millat to achieve greater production efficiency in future. The support of the government to the agriculture sector in terms of support prices to the local farmers provides greater opportunities for MTL. This enhanced income available to the farmers will not only enable them to buy agricultural inputs, but also educate themselves to modern agricultural practices to improve productivity, which is low compared to international standards. The government policy to encourage corporate farming will also create a demand for the companys products, which could also include higher horse power range of tractors and implements. COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi, prepared this analytical report for Business Recorder. DISCLAIMER: No reliance should be placed on the [above information] by any one for making any financial, investment and business decision. The [above information] is general in nature and has not been prepared for any specific decision making process. [The newspaper] has not independently verified all of the [above information] and has relied on sources that have been deemed reliable in the past. Accordingly, the newspaper or any its staff or sources of information do not bear any liability or responsibility of any consequences for decisions or actions based on the [above information].

When to Abbreviate, Etc.

When to Abbreviate, Etc. When to Abbreviate, Etc. When to Abbreviate, Etc. By Mark Nichol When is it appropriate to abbreviate words? The answer to this question, as with many matters in writing, is not a simple one: It depends on type of content and the degree of the content’s formality. In technical publications and scholarly journals, abbreviation of statistical information or references to dimensions and durations abounds. Furthermore, the American Medical Association’s manual of style dictates that periods be omitted in many abbreviations. However, in general content intended for professional publication, consider whether to abbreviate, especially in contexts in which multiple various abbreviations might be distracting. Social titles such as Mr., Mrs., and Ms., are usually superfluous altogether but are abbreviated when they appear, except in generic usage such as â€Å"Hey, mister!† Doctor is abbreviated before a name but otherwise spelled out, as is saint. (Note, however, that cities and other geographic designations differ in using Saint or St.; consult a resource to verify the correct style for a particular location.) Military and quasi-military ranks are spelled out or abbreviated depending on context, but as with other titles, they should be spelled out in isolation (for example, â€Å"The captain returned the salute†). Regarding i.e., that abbreviation and its close cousins e.g. and etc. are convenient, but they are no improvement on the English equivalents (â€Å"that is,† â€Å"for example,† and â€Å"and so on,† respectively). Style for scholarly journals is to use the abbreviations in parentheses and spell out the English phrases outside parentheses, but this distinction is not recommended for general-interest publications; avoid them altogether. Names of countries and other geopolitical entities are usually spelled out as nouns but abbreviated as adjectives (â€Å"the United States,† but â€Å"the US economy†); note in the previous example that periods in such designations, as in most other capitalized abbreviations, are unnecessary. Designations of thoroughfares, like many other words, can be abbreviated in lists or in graphics where space is at a premium, but generally spell out such terms as avenue, road, and street even when they are part of an address. Titles of senior corporate executives- CEO, COO, and CIO, for instance- are almost always abbreviated in all references, but VP (â€Å"vice president†), SVP (â€Å"senior vice president†), and the like are generally spelled out in all instances. Corporate terms such as PR (â€Å"public relations†) and HR (â€Å"human resources†) can be spelled out or abbreviated depending on context; they’re likely to be spelled out in a formal report and probably will be abbreviated in a casual reference in a mass-market book. Academic degrees are often abbreviated after a person’s name, but it’s better to refer to someone receiving a bachelor’s or master’s degree or a doctorate rather than a BA, an MA, or a PhD. Likewise, â€Å"curriculum vitae,† or the plural form â€Å"curricula vitae,† is preferable to CV. References to media such as CDs and DVDs are ubiquitous (or at least were before they began to give way to online access to music and films), and there’s no need to spell those initialisms out. (You’d likely have to look up that DVD originally stood for â€Å"digital video disc,† though the second word has since been supplanted by versatile. And who knows, or cares, that URL stands for â€Å"uniform resource locator†? The initialism will do in all cases.) However, words for parts of a book or other printed publication should be spelled out (for example, â€Å"In my copy, chapter 6 starts on page 47†), and MS or ms, for manuscript, should be used only in informal contexts. No. is sometimes used as an abbreviation for number in phrases such as â€Å"No. 1†; it’s a compromise between spelling the word out and using the number symbol (#). The abbreviation for versus, vs., is acceptable in informal content, as is OK. (Okay is a common variant, but the initials are more accurate; the most likely derivation of OK is the jocular misspelling â€Å"oll korrect,† the only survivor of a short-lived flurry of such locutions coined during the nineteenth century.) Terms of distance and duration, such as foot and hour, are generally spelled out when accompanying numerals except in technical writing, as are designations such as Celsius and Fahrenheit; the same is true of phrases such as â€Å"miles per hour† and â€Å"pounds per square inch.† However, the abbreviations am and pm, often capitalized and/or with periods, are always acceptable, though a phrase such as â€Å"one o’clock in the morning† is appropriate for a casual reference in fiction or nonfiction. Abbreviations are much more likely to be employed in ephemeral publications such as newspapers than in more durable materials such as books, though formality varies widely in the latter format; online usage differs as well. Ultimately, the careful writer will consult a style guide appropriate to the type of print or online publication for guidance or at least will consciously consider the visual and cognitive impact of abbreviation. (See this post for more guidance on abbreviations, and search for â€Å"abbreviations† on DailyWritingTips.com for additional assistance.) 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 Style category, check our popular posts, or choose a related post below:30 Synonyms for â€Å"Meeting†50 Synonyms for "Assistant"Personification vs. Anthropomorphism

Individual Freedom Assignment Example | Topics and Well Written Essays - 1500 words

Individual Freedom - Assignment Example Warrants should always be obtained when doing search and seizures. Keywords: Introduction 1500 words In the history of the people of the United States, before it was known as such, the British were a ruling force in the land. In dealings with the British, much as was found in the homeland of Britain, there have been seizures of private property and belongings of the people without benefit of reason. When the Bill of Rights was created, the Fourth Amendment was also created which guaranteed the right of people to be secure in their homes, and that all possessions in their home and about their person, would also be safe , unless due cause could be shown and sworn to by the appropriate person (Franklin, Jefferson, & Madison, 2013). Therefore, such items which are confiscated during a search, and the search of a premise itself, conducted without benefit of a warrant, are not considered permissible in a court of law and during a trial (Coyle, 2013). 1.Enforcement of the Fourth Amendment h as been upheld in a number of cases since that time, including Mapp v. Ohio, 367 U.S. 643 (1961) and Massiah v. United States, 377 U.S. 201 (1964), which was guaranteed by the Sixth Amendment, said that any statements of self-incrimination made by the defendant, without benefit of counsel being present, would be considered void (Coyle, 2013). Subsequently, the Supreme Court took a step further in the case of Miranda v. Arizona, 384 U.S. 439 (1966), emphasized that a statement must be read to each person, notifying them of the right to remain silent, so as to not incriminate themselves, and that anything said after that, would then be considered a confession and self-incriminating, valid for use in court as evidence (Coyle, 2013). Justice Bradley stated in the case of Weeks v. U.S., 232 U.S. 383 (1914), that in Boyd v. United States, 116 U.S. 616 (1886), the previous ruling made by Lord Camden in Entick v. Carrington, 19 Howell’s State Trials, 102 (1765), a British common law case concerning the liberties of people, declared that the defendants, who committed the trespass on John Entwick, were not guilty of trespassing when the king’s messengers broke into Entwick’s home and proceeded look through everything for four hours. They caused damage to the house and its contents, and also through removing possessions from the home in order to deliver them to Lord Halifax, who had issued that warrant. Yet it was shown by Justice Bradley, within the Weeks case, that on further review, Lord Halifax had no right to issue a warrant and therefore, the complaint by Entwick against Halifax, was sustained, based on English common laws (Findlaw, 2013). 2.Chief Justice John Marshall has stated that the founding fathers, in creating the Constitution, expected the people to observe the fundamental principles of freedom as set forth in the structure. People were to exhibit thoughtfulness and experience in giving meaning to these principles in an ever-changing w orld and yet, the Constitution must continue forward (Stone & Marshall, 2011). In the Fourth and Fifth Amendments of the Constitution, these principles were put into place because of past abuses by higher powers in search and seizures of people without regard to their rights as free humans. When a rumor could instigate a search and seizure, then all people were at risk of their liberty and would have to live in fear. Therefore, it was important that

Policy and procedure writing exercise Assignment

Policy and procedure writing exercise - Assignment Example This makes our premises very busy with visitors, making it an easy target for terrorist attacks. Therefore, to help the organization deal with such threats, it has been decided that the backdoor shall henceforth remain closed, and all the visitors to the premises shall be using the front door, both for entry and exit. The back door had been designed to facilitate easy exit of all the visitors to the premises, leaving the front door for entrance only. However, it has been noted that such a strategy has created an opportunity for prospective terrorists to gain unauthorized entry into the premises, through using the back door which is meant for exit. This has necessitated the need for closure of the backdoor, to ensure that all visitors enter and leave the premises through the front door. All the visitors to the premises will be frisked, and their luggage checked for any material or items that could be a security threat to the organization. Frisking will be done at the entrance gate by the security agents placed at the entrance. There shall be an identification procedure for all the visitors to the premises at the entrance gate, where all the visitors will be required to produce their identification documents, such as their passports, Identity Cards or driving licenses. After producing the documents, the visitors will be registered in the visitors’ book by our staff, who will be situated at the gate. The registrations will entail the names of the visitor, the time they enter the gate, their purpose to the premises and the department they will be visiting. After the details of the visitor are registered, they will be required to leave their identification documents at the entrance gate, and instead will be issued with a gate pass and a visitor’s card, which is indicates the visitor’s respective department of interest. After the visitors are through with their businesses in the

Ethics in Criminal Justice Essay Example | Topics and Well Written Essays - 500 words - 5

Ethics in Criminal Justice - Essay Example on the variety of ideas and the effectiveness of its execution depends on dedication and commitment on part of people involved to carry out the decision. â€Å"Ethical decision making will be reserved for use in a group decision making context. Specifically, we will address ethical decision making in business as providing the guiding requirements or goals for right conduct† (Addressing Ethics in Decision Making, 2009). It is the most realistic and accurate expression of the fundamental feeling behind the ethical point of view, that is, benevolence. This principle states that there is room in the structure for conventional ethical rules, but adds that these principles can gain power only from maximizing usefulness during the long term. There is probably no one in the modern period whose visions have influenced moral reflection above those of 18th-century theorist Immanuel Kant. Kant creates his "supreme principle" in numerous different methods, all of which he claims to be equal. Unlike other two ethical principles, virtue ethics does not offer ethics for judging an act right or wrong. It gives attention to building up the character of human beings so that an individual is bound to do the right thing. Character traits such as self-control, courage, justice generosity, gentleness etc are developed through this. Virtue ethics revolves around achievement and promotion of human excellence. Every moral virtue is a means that gives extreme happiness. Sometimes it generates a feeling of doing too much or too little. The absolute mean is diverse from the mean as it is relative to the human being. Ethical decision-making in the organizations helps to change the future for the better. â€Å"Addressing ethics in decision making in business or other large organizations or groups (e.g., government) does point to the need to ensure that key focusing decisions have been made and are in place. In particular, the business decision for core values should be in place to provide the

Aviation Industry Essay Example | Topics and Well Written Essays - 1500 words

Aviation Industry - Essay Example His efforts in transforming this air carrier gained him the recognition of having been successful in influencing the pre-deregulation airline industry. However, most people are still skeptical on his contributions claiming that his strategy becomes detrimental to Continental and brought damages in its operation. In managing the airline, Lorenzo used a highly centralized decision making approach. It should be noted that he solely the airline is solely run by Lorenzo and even though he assigns executives to oversee the different functional areas, he often bypassed them and implement his own decisions. His administration also emphasizes the goal of profitability by cutting down operational costs. This move had jeopardized employee morale and commitment leading to massive labor union strikes. Lorenzo should also be noted by introducing new practices in the pre-deregulation aviation industry. He has been apt in targeting the middle and lower social strata by revamping the typical marketing strategy. Lorenzo introduced "Peanuts Fares" which is the first CAB-approved low fare scheme, provided consumer benefits like forbidding pipe and cigarette smoking in planes, and utilized the advancement of technology through computerized airport check-in. After beingAfter being forced to leave the Continental Airways in 1990, Gordon Bethune took over. The new executive has been recognized to have brought the major turnaround in the airline. From being financially distressed, Continental Airways had become one of the most admired business organizations. In direct contrast with Lorenzo, Bethune implemented a decentralized management style which empowers employees to make significant decisions. He improved employee morale by treating them as strategic partners which are instrumental in attaining organizational goals. He also recognized employee contribution by rewarding them. His move for profitability is seen by eliminating unprofitable routes and outsourcing maintenance which helps the airline to focus on its core competence. 2. Early aviation got its start with those men in their crazy balloons. Describe in detail the beginning of balloon age, its uses, and the impact it had on aviation today. (10 points) The first successful human flight in history occurred aboard a hot air balloon it took place in France, 1783. Jean de Rozier and Francois d' Arlandes flew 5 miles in a hot air balloon which was invented by Monthgolfier brothers, they were inspired by the lifting power of hot air rising from a fireplace. The first hot air balloon was powered by a wood fire; it was not steerable; and flew wherever the wind took it. The first recorded circumnavigation of the globe in a balloon was accomplished by Betrand Piccard and Brian Jones, it took them 19 days and flew over 26,000 miles. The first successful solo-flight around the world was achieved by Steve Fossett after six attempts. Initially, hot air balloons are solely used for showmanship. The succeeding years proved that hot air balloons can be utilized for military purposes. It should be noted that hot air balloons are used during the French Revolution and American civil war. In order to maximize its uses, the military brought structural changes like

Modernity Essay Example | Topics and Well Written Essays - 2000 words

Modernity - Essay Example They have sought to find out the ways through which modernity could get transformed into an ideal feature, rather than following the path of returning to the idealized past. Marx’s perception regarding modernity was built up by three developments – the French revolution of 1989, and 1848, and the French theorists; the industrial and agricultural revolution in Great Britain and the economists of Britain; and finally decline of Churches credibility. He actually tries to make some projection regarding what kind of shape all these developments will take in future. Very often it is perceived by many economists and politicians that Marx’s analysis of capitalism is mainly based on the experience of the textile industry the Manchester. According to Marx capitalism has lead the way to ultimate modern society, which can also be termed as stateless communism. According to Marx modern world has also taken its birth through class struggle. Marx treated the classes in the society as the agents of social change. The determinants are nothing but the organization of production. This kind of assumption stemmed from the consideration of some philosoph ical ideas in the very early days. In past, each society no matter whatever be it form – tribal, feudal or capitalists, was characterized by how its member used produce their basic needs for living. Each society had a tradition of creating a ruling class and a subordinate class on the basis of the mode of production they used. Since it’s impossible for any individual to live without work, and to propagate his own style, each individual has a tendency to enter into relationships with other and form family. People use different tools to fulfill their needs, and as old needs get satisfied, new needs arise and along with it, there also arise the need for improving or inventing new technique of production. This kind of technological innovation results in division of labor which affects societal arrangements too. Division

Assignment Example | Topics and Well Written Essays - 500 words - 44

Assignment Example These two ends help the cells mix properly with water. Phospholipid bilayers contain transport and receptor proteins, which help the transport substances in and out of the cell. The plasma membrane is a semi-permeable membrane; it allows the substances needed for the functioning of the cell to enter, while filters out the rest. Also, the membrane helps maintain a cell potential inside the cell that assists in communication and the exchange of signals from outside the cell (Pandey, 2010) The three steps for cellular respiration are glycolysis, The Krebs cycle, and the electron transport chain. Glycolysis is the process in which glucose molecules are broken down from carbohydrates into pyruvates. In this process, a phosphate is removed from ATP, which becomes ADP, and is given to the glucose molecule, making it more chemically reactive. The Krebs cycle is an aerobic process, which means that it requires oxygen. It is a sequence of steps using enzymes as catalysts, which results in the complete oxidization of the Acetyl CoA molecule. The electron transport chain is the process in which most energy is released that has been trapped in the glucose molecule. The electron transport chain is a system of electron-carrying proteins that are found in the inner membrane of the mitochondria. The electrons are passed along these proteins and are finally joined with oxygen, which is the last electron acceptor (â€Å"Understanding Cellular Respiration†, n.d.) Respiration makes use of oxygen to perform the function of electron acceptor to form ATP. During fermentation, inorganic electron donors are used to form ATP such as sulfur and methane. Although both the processes use the same substances to produce ATP, they vary in their respective processes and the amount of energy that is released. Respiration results in the production of 38 ATP, while fermentation only manages to produce 2 ATP.