Technology Education and National Development

TECHNOLOGY EDUCATION AND NATIONAL DEVELOPMENT: THE PLACE OF INFRASTRUCTURE BY SUBAIR, S. TAYO AND ASHIRU, AL-MAHROOF. OLASEEWO DEPARTMENT OF EDUCATIONAL ADMINISTRATION FACULTY OF EDUCATION UNIVERSITY OF LAGOS AKOKA – LAGOS BEING A PAPER PRESENTED AT THE NIGERIAN ASSOCIATION FOR EDUCATIONAL ADMINISTRATION AND PLANNING (NAEAP) INTERNATIONAL CONFERENCE VENUE:JULIUS BERGER AUDITORIUM UNIVERSITY OF LAGOS DATE:24TH – 27TH SEPTEMBER 2007 AbstractTechnology education has been defined as a continuous process of special education and training imparted in individuals for them to achieve socio-economic independence. One major essence of technology education is self-sustenance and social development. This paper takes a cursory look at the factors germane to functional technology education and its implications for national development, by examining the concepts of technology education, national development, infrastructure and goals of technology education.The paper goes further to as ses the development status of Nigeria, the relevant of infrastructure in the provision of viable technology education and some areas along policies, practices, attitudes, and sensitization of the public towards imbibing technology education that can foster national development. Introduction The basis of Nigeria’s philosophy of education is the integration of the individual into a sound and effective citizen, such a philosophy as articulated in the National Policy on Education (Federal Republic of Nigeria, 2004).The goal of national development is hardly realizable without technology, which serves as a vehicle for the acquisition of appropriate knowledge, skills, abilities and competencies of both mental and physical nature. This is equipment for the individual to live in his society, and to acquire a relevant and balanced knowledge of facts about local and world phenomena. The etymology of technology is from Greek word ‘tekhne’, which refers to an art or craft, a nd ‘logia’ which means area of study. Simply defined, technology is a science of crafting.Collins English Dictionary (2005, pg. 1675) defines technology as the application of practical or mechanical sciences to industry or commerce, the methods, theory and practices governing such application and the total knowledge and skills available to any human society. Education, as defined by Adesina, Fagbamiye and Talabi (1985) is a tool for the integration of the individuals effectively into a society to enable them achieve self social, economic, political, scientific, cultural and technological progress.Now, in the era of globalization, the growing importance of trans-border education provisions particularly, in the area of technology is quite understandable. Generally, stakeholders are anxious to see that educational institutions deliver what they should deliver and that what they deliver produces desirable outcomes. These desirable outcomes include, among others, changes in structures, attitudes and institutions as well as the acceleration of economic growth, the reduction of inequality and eradication of absolute poverty.Consequently, in addressing the issue of national development vis-a-vis technology education, it is of immense necessity to show the understanding of the phenomenon development and also to harness the indices of development before we can decide what we look out for in a developed, under-developed, developing nation and so on. The Concept of Technology Education According to Adeogun (2004), Ogunranti (1988) and Ukeje (1991), technology is the application of science and scientific knowledge to make the world more efficient using industrial methods.Technology can also be viewed as the sum of the ways in which a social group provides for themselves with the materials of civilization, thus science and technology go hand-in-hand. It could be considered permissible then to say that technology is a systematic approach in an integrated process to achieve practical purpose or achieve an end product. Hence, technology involves a practical engagement, that is, the act of doing, which is meant to solve human problems scientifically and systematically. Translated from its Latin root, ‘educo’ or ‘educare’, the word education means ‘to lead’. In other words, education implies showing the way.In principle, education is the process by which a person or group of persons lead in the act of acquiring new knowledge or experience. Ajelabi (2000) views education as implying the experience that a person gets in contact with or which one undergoes with or without the school. According to Collins Dictionary (2005, pg. 433), education is the act or process of imparting knowledge, especially at school, college or university, the art or process of acquiring knowledge, the knowledge or training acquired by this process, the theory of teaching and learning; or a particular kind of special directives (inst ructions) or training.From the foregoing, an operational definition of technology education required for this paper projects technology education as a continuous process of special education, training and directives imparted in individuals for the development of innovative ideas to ensure socio-economic independence. It could be argued that the type of education which Nigeria pupils and students are exposed to at different levels of education in the school system today cannot favour the accomplishment of the Millennium Development Goals.This can be substantiated with the concern about quality which is uppermost in any educational discourse all over the world, and Nigeria in particular. The United Nations Education Scientific and Cultural Organization (1999) observes that quality in education is a multi-dimensional concept which should embrace â€Å"all functions and activities: teaching, academic programmes, research and scholarship, staffing, students, buildings, facilities, equip ment, services to the community and academic environment†.To show that one is educated means that all aspects of his/her life is transformed to influence and be influenced by self, physical, social, political, economical and spiritual environments. For this reason, technology education should focus on productive skills that are saleable to the world, thus making such a country a power to associate with. The Concept of National Development National development is rooted in a force of change than can raise expectations, through sustainable and broad-based economic growth.It could also be perceived as the totality of all activities within a nation whose main goal is to raise the living standards and general well being of the people. Collins English Dictionary (2005, pg. 443) defines development as the act or process of growing or developing or the product of developing. The Cambridge International Dictionary of English (1996, pg 377) defines development as growing or becoming mor e advanced or a recent important event which is the latest in a series of related events.For the purpose of this paper, national development means the satisfaction and sustenance of the social, political and economic needs of the people of a state (nation). It could also be thought of as planned activities which focus on increasing and enlarging the capacities so that they can successfully handle greater positions in a nation. National development usually focuses on improving the conceptual skills – the intellectual and abilities needed to handle complex situations and do a better job.With economic needs, a change in the economic and social super-structure of the society is guaranteed. It is an improvement in the techniques of production in the consumption choices open to the average citizen, in the health of the citizen, in the behaviour of citizen and so on. It involves both quantitative and non-quantitative aspects. Also, it involves reduction in income inequality, unemplo yment and poverty (Adeogun, 2003).Bannock (1977) opines that economic development is related to the process of growth in total and per capita income of developing nations accompanied by fundamental changes in the structures of their economies. Accordingly, these changes generally consist of the increasing importance of industrial, as opposed to agricultural, activity, reduction of dependence on imports from the more advanced producer and consumer goods, and dependence on agricultural or mineral products as main exports, and a diminishing reliance on aids from other countries.Accompanying this economic process are attendant political and socio-cultural reforms aimed at resolving such problems as cultural deprivation, ignorance, political instability and poverty. Thus, national development can be perceived as the totality of all the activities within a nation whose main goal is to raise the living standards and general well-being of the people. The Concept of Infrastructure According to Coombs (1991), the educational system is a function of the quality and quantity of inputs. Of significance are the buildings, equipment and space.This view gains the endorsement of Ejiogu (1984) and Nwagwu (1983) who note that of the four important factors in an attempt to balance the qualitative and quantitative growth of any educational system is the quality and number of infrastructure in the form of buildings, machinery and equipment; their maximal usage and proper maintenance culture of the students, staff and community members that use such facilities. Infrastructure, as stated by Ehiametalor (2001) are the operational inputs of every instructional programme and they constitute elements that are necessary for teaching and learning.Such include buildings, laboratories, machinery, furniture and electrical fixtures. In specific terms, Bosah (1997) opines that infrastructure represent the empirical relevance of the totality of the school environment for the realization of the s chool business. He identifies the following as components of infrastructure: landscape, playgrounds, buildings – classrooms, library, laboratory blocks, health blocks, toilets, hostels, administrative blocks and so on; utilities such as electricity, pipe-borne water and security facilities – walls (fences), gates, telephone and alarm system.From the above, infrastructure can be considered the basic systems and services that are necessary for an organization, for example, buildings, transport, water and power supplies and administrative systems. These are things that represent the aesthetic picture of the school conveyed by the position of structures in relation to one another. Goals of Technology Education The goals of technology education include: -understanding the principles and dynamics of technology; understanding the principles of tool construction, processes of technology and modes of dissemination; -developing intellectual processes of technology and their rela tion with other systems such as communication, economics, science, industry and society; -acquiring skills such as instrumentation production, maintenance, creativity, designing and communication; -mastering of technology-oriented forms of general and specific problem-solving; -producing technologically literate people; and -producing products that are employable and equally those who would proceed to higher education (Busari, 2004).It is important to appreciate the interpretation of these goals in the policies and practices of technology education in Nigeria. The policy guidelines set by the government for achieving the objectives are provision of basic tools for educational advancement including preparation for crafts of the locality, provision of curricular activities like teaching of science, local crafts, domestic science and agriculture, and provision of qualified teachers to handle technology education subjects. An Assessment of the Development Status of Nigeria In assessing the indices, criteria or factors responsible for the lassification of any country as being either developing or developed, it becomes imperative to understand the underlying key concepts: development, developing, under-developed, least developed, third world or fourth world and developed countries. Development can be regarded as the process of improving human welfare. Hence, the goals of development include: -balanced healthful diet; -adequate medical care; -labour opportunities commensurate with individual talents; -environmental sanitation and disease control; -sufficient educational opportunities; -reduced infant mortality; -decent housing; social and political participation promoting equality (United Nations, 2003). Developing countries are characterized by high rate debts, low level of Gross Domestic Product (GDP), low standard of living, low level of productivity and low level of health, low level of investment; high dependency on the agriculture production and high vulnerabil ity for external shocks. Least Developed Countries (LDC) generally suffer conditions of extreme poverty, ongoing and widespread conflict (including civil war or ethnic clashes), extensive political corruption and lack of political and social stability.The form of government in such countries is often authoritarian in nature, and may comprise dictatorship, warlordism or a kleptocrazy (United Nations, 2003). The Relevance of Infrastructure in the Provision of Viable Technology Education With the present scope of technology in Nigerian classrooms, there are few technical schools and few universities where technology education is made available. It is lamentably sad to observe that the available infrastructure in the available technical colleges and universities of technology is inadequate when compared with the expected functions of such institutions of learning.No doubt that infrastructure comprises things that are used directly or indirectly for the purposes of supporting, facilitati ng, influencing or encouraging transmission or acquisition of knowledge, competencies, skills and know-how. When we think of the poor state of this infrastructure, a question tends to come to mind – is the government actually interested in building this nation? This is just that there appears to be a gap between the policy statements and policy implementation.Lending credence to this is Busari (2004) who observes that institutions (technical colleges, universities, etc) where technology education is run are given little or lip support because they are viewed as any other education programme providers. The lackadaisical attitude of related agencies responsible for the functionalism of technology education is evidenced by the fact that the required infrastructure that would make technology education operational are either inadequate or non-existing. If technology education would facilitate national development, the quality of the manpower available for the performance of such t asks will dictate.As reported by Subair (2004), even the universities of technology experienced a face-lift just because of the accreditation exercise embarked upon by the National Universities Commission (NUC), a body established by the Federal Government in 1962 for the purpose of quality university education. He opines that experiences of the students are better expressed when adequate provision of required infrastructure is made with due consideration for some factors such as students’ population, student-teacher ratio, minimum studio stage per student, drawing boards per student, etc and student work experience practice in particular.The country is now faced with the stark realities of her poor technological base, which manifests in all fronts, ranging from poor economy, inability to properly maintain facilities inherited from colonial masters, to bad educational planning (Odeyemi, 1996). The incessant scarcity of petroleum products, epileptic supply of electricity, bad roads, flooding, and so on points to the fact that this country seriously needs to embrace and appreciate technology education. The resultant effects of Nigeria’s state of technological development are being felt in other sectors of our economy uch as the agricultural sector, industrial sector, building and construction, health and infrastructural sector – water, road, telecommunication and electricity. The bite is much felt due to lack of the necessary technical know-how to maintain the existing infrastructure and fabricate spare parts to maintain the heavy duty and medium size plants. Moreover, the frequent stealing and vandalization of Power Holding Company of Nigeria’s (PHCN) equipment for example is traceable to the inability to produce them locally. Obviously, there will be no market for the stolen ones if the country is able to produce in large quantities.As Oguntoye (2004) comments: There is no doubt that Nigeria has made tremendous leaps forward in educ ational development, especially with regard to quantitative expansion, are probably more than those we faced before the Ashby Commission of 1960. The physical structures may be available (they are in short supply). The problem is not that people are unwilling to send their kids to school, may not be the curriculum, may not even be quantity of trained personnel, but the critical problem is attitudinal, wrong value-orientation, wanting to cut corners, acquiring the certificates without acquiring knowledge, skills and competencies (pg. – 8). It becomes important to say here that if Nigeria as a nation is to be a developed and modern nation, it needs to be rational. A rational society is one which regards people as having the knowledge and ability to control their own destinies. Controlling one’s destiny without depending on other countries for one’s basic needs is self-reliance, a supposed target or goal of technology education.Consequently, the focus now should be acquisition of thorough knowledge, skills, competencies and know-how capable of transforming and encouraging people to develop openness to new experience, readiness to social change, placing higher value on technology education and aspiring to high levels of industrial attainment, understanding the logic underlying production and industry; placing high value on technical skill and accepting it as a basis for the distribution of rewards, and a basic trust in the calculating of the surrounding world, and that people and institutions can be relied upon to meet their obligations.Conclusion Attaining national development depends on three things that are considered most important. One is that education, particularly technology education which is the source of high levels of human capital accumulation, should be heavily invested in to generate the human resources Nigeria needs as the ‘engine’ for growth. There should be active government involvement or intervention that will encourage enormous investments in human capital, educating large skilled manpower able to absorb and adapt the most advanced technology.Secondly, Nigerians should know that modern societies are science and technology driven. There is no reason why we cannot set target year for achieving technology education for all. Such focus will make Nigerians think scientifically and technologically, the resultant effects of which will be change in our attitude and belief system, worthwhile social, economic, political and cultural lives, culminating into poverty alleviation, economic progress that will touch millions of Nigerians.Thirdly, irrespective of the level of education, the students are the core input into our educational institutions and the quality of the output (students) depends largely on the provision of infrastructures capable of directly or indirectly supporting, facilitating, influencing and encouraging the development of their potentials. Therefore, the knowledge, skills, compe tences and attitudes students acquire for life can make them fit into the cultural, social, economic and political contexts of the society in which they live, and to work and employment.It can all be summarily put that quality of education is reflected in the fit between, on the one hand, the expectations of society expressed in the general and specific objective of education, and on the other, the actual characteristics of the educational process (technology education) and the changes observed at the students’ level. References Adeogun, A. A. (2003). Economics of education. Lagos: Olatunji Publishing Press. Ajelabi, A. (2000). Essentials of educational technology. Lagos: Raytel Communications Ltd. Bannock, A. O. (1977).Modern technology and students’ instinct development. New York: McGreen Publishing Company. Bosah, H. O. N. (1997). Improving school plant provision and administration in Nigeria school. N. I. Ogbonnaya and C. L. Ajagbaonwu (Eds. ) Major concepts and is sues in educational administration. NAEP Publication. Ibadan: Awemark Industrial Printers. Busari, O. O. (2004). Towards a rethink of science and technology education in Nigeria. Ejiogu A. (ed. ) Nigerian education and challenges of the 21st century. Lagos: Faculty of Education, University of Lagos.Cambridge International Dictionary of English (1996). Cambridge: Cambridge University Press, pp. 377. Collins English Dictionary (2005). Glasgow: Harper Collins Publishers, pp. 443, 449, 1675. Coombs, Y. (1991). What is planning? Paris: IIEP UNESCO. Ehiametalor, E. T. (2001). School facilities: Management practice in Nigeria. N. A. Nwaguru, E. T. Ehiametalor, and M. A. Ogunu, M. Nwadiani (Eds. ) Current issues in educational management in Nigeria. Benin City, Nigeria: Nigerian Association for Educational Administration and Planning. Ejiogu, A. (ed. ) (2004).Nigerian education and challenges of the 21st century. Lagos: Faculty of Education, University of Lagos. Madumere, S. C. (1997). Educ ational planning and manpower development. Lagos: Samuel Printing Press. Nwagwu, N. A. (1978). Primary school administration. Beverly Hills: Sage Publications. Odeyemi, O. (1996). Technology as a vehicle for qualitiative education in Nigeria. Technology education Today 6(1 & 2), pp. 49 – 52. Ogunranti, A. (1988). Educational technology and curriculum development. Ogunranti, A. (ed. ) Problems and prospects of educational technology in Nigeria.Ibadan: Heinemann. Oguntoye, A. O. O. (2004). Education for national development self reliance in a deregulated economy. A paper presented at the 1st national conference of the School of Technical Education, Federal College of Education (Technical), Akoka. Subair, S. O. (2007). Infrastructure, students’ welfare and students’ motivation to learn in universities. An unpublished post-field report paper presented at the departmental seminar of the Educational Administration Department, University of Lagos, Akoka. Ukeje, B. O. ( 1991).Educational technology in the new national system of education. In Ajelabi, A. (2005). Essentials of educational technology. Lagos: Raytel Communications, p. 18. United Nations (2001). Road map towards the implementation of the United Nations millennium declaration. Retrieved Sept. 17, 2008 from http://www. un. org. /millenniumgoal. United Nations Development Programme (2003). Human development report. New York: University Press for UNDP. United Nations (2005). Jakarta Declaration on Millennium Development Goals in Asia and the pacific: The way forward 2015, Jakarta, 5 August 2005.

Legalization of Abortion in the Philippines Essay

There are numerous issues that divide the population. Abortion, a long-standing issue, is one of these. Even in ancient and medieval times, people have engaged in such act. In ancient China and Egypt, different methods have been developed to induce abortion such as the use of herbs. The medieval period saw developments in techniques such as the use of forceps and anaesthesia. As expected, with the development of the methods of abortion also comes strong opposition, primarily from religious bodies. The issue of abortion is a controversial topic in the Philippines, despite being a Catholic country. This is because liberal ideas such as feminism, have reached our shores, I see that, at present, there are some women rights group in the Philippines that are pushing for the legalization of abortion. They point out that abortion is already rampant in the Philippines, although unbeknown to the general public. These abortions are usually done in make-shift clinics by people who often have no professional medical background. This puts the mother in a dangerous and life-threatening situation, with 8 out of 10 of these women develop complications. With these findings, pro-choice groups believe that if abortion would be legalized, abortion will now take place in medical settings, ensuring the safety of the mother. They also emphasize that victims of rape, incest, and sexual trafficking who become pregnant because of the abuse should be given the right for abortion since they did not plan on having a baby in the first place. On the other, it is clear that the Catholic Church, a big institution in the country, and pro-life groups abhor abortion since it is synonymous to murder, a mortal sin. For them, life starts in conception, and aborting the fetus even in its earliest stage, ends a life. Abortion deprives the unborn of the life and experiences it should have undergone if it were delivered alive. They suggest that if the baby is unwanted, why not give it up for adoption. I feel conflicted about this issue since I am both a Catholic and a woman. It is easy to say no to abortion because it is wrong according to my religion. As a woman, I, too, believe that I should be given the right to my own body. Nonetheless, taking these all side, regardless of me being a Catholic and a woman, I am a firm believer of the sanctity of life. Life, in all its forms, must be respected and protected. Everyone must be given an opportunity to experience life. In an emotional sense, every pregnancy is different from each other. Some women have planned it for years while others get pregnant by â€Å"accident†. In sad cases though, pregnancy can occur from rape, incest, and sexual trafficking. Since the perpetrator is the father of the fetus, it is hard for the mother to develop love and affection towards it. For many, they believe that getting an abortion can solve this problem. Maybe I am not to judge their actions since I have not experienced the pain and suffering that these women must have undergone. However, I can say that if there is someone that must be punished because of the abuse, it must be the perpetrators. The unborn child must not be harmed since it did not choose to be made. It never inflicted pain towards its mother. It is just a product of an unfortunate event. If the mother does not want to keep the baby, she should just give it up for adoption where the child is given a chance to live and experience life. I think that abortion should not be legalized in the Philippines. In Article 11, Section 12 of the 1987 Philippine Constitution, the state must protect the life of the mother and the unborn. Abortion, therefore, is unconstitutional. If ever, but unlikely, a new constitution will be drafted and will legalize abortion in the country, this will pave the way for new ethical issues to arise. People then will argue that if abortion is legal, then why not legalize this or that. In the years to come, the Philippines will be a country that only values the wants and comforts of its citizenry, and not the sanctity of life. I believe that the government should strengthen their campaign against abortion. It should put sharper teeth to the law in order to eliminate such  practice in the country. It should also provide comprehensive assistance to victims of sexual abuse in order to help them overcome psychological stress to avoid opting for abortion, and guide them on how to raise their children.

Marijuana Argument Paper

To Legalize or Not to Legalize The question of whether or not to legalize marijuana has been a hot spot for this generation and is something that has enflamed a lot of passion in people. This issue plays a big part in the lives of Americans because marijuana is the most commonly used, and abused, drug in the United States (DuPont par. 3). Some people think it should be legalized because it would be good for the economy, it would help stop the drug wars, and because they believe it’s the right of individuals to smoke marijuana if they so desire.Other people think that it should not be legalized because of its negative health effects, dangers to society, and because they don’t think that marijuana has any benefits to the community of our country. Because of the scope of this issue, there are many strong arguments for and against the legalization of marijuana. However, in my opinion, marijuana should not be legalized due to its harmful side effects, negative impact on our economy, and overall danger to society. The first reason marijuana should not be legalized is that it leads to numerous health concerns for the user and those around him or her.Marijuana will increase the heart rate by 20% to 100% after using it and this can lead to later heart problems. It also affects the lungs and because when smoking marijuana, one inhales more deeply and for a longer time than when smoking cigarettes, so the effect on the lungs is even worse (â€Å"Marijuana† screens 1-2). It can lead to coughing, pulmonary infections, and lung cancer, and marijuana also represses the immune system, which exposes the body to numerous diseases (â€Å"What are the medical dangers of marijuana use? † screens 1-2).Finally, marijuana is very unhealthy for the brain. According to the web page â€Å"Marijuana† written by the National Institute on Drug Abuse, marijuana causes one to have distorted perceptions, impaired coordination, and problems with learning and m emory. These results can last for multiple days. Other extreme mental diseases that smoking marijuana can cause are anxiety, depression, and schizophrenia (screen 1). Not only that, but marijuana can indeed be addictive which leads to further health problems (â€Å"What are the medical dangers of marijuana use? † screen 3).Many people, when arguing in favor for the legalization of marijuana, neglect the negative impact marijuana has on its user, which is an incredibly important part of the argument. Yet marijuana does not only negatively affect the user, it also presents many dangers for society. One of these dangers is all the health risks that come from secondhand smoke. The secondhand smoke of marijuana can cause all of the health problems that smoking it directly does. If children are around smoke from marijuana, it can cause asthma, ear infections, breathing problems, and it can stunt their mental and emotional development (â€Å"Effects of Smoking† par. -2). Anot her concern for the safety of society that marijuana presents is people driving under the influence. If marijuana were legalized, the amount of DUI’s would absolutely increase (â€Å"Arguments For and Against Legalizing Marijuana† screen 1). Currently if a person gets pulled over for driving under the influence, they’re in for â€Å"double trouble,† so to speak, because the officer could arrest them for, obviously, driving under the influence, but they could also arrest them for possessing marijuana since it is illegal.If marijuana is legalized, people will still be given DUI’s, but they won’t be worried about going to jail for possessing marijuana, which might lead to more DUI’s. Marijuana has so many dangerous outcomes on society, which is one more reason why it should not be legalized. Finally, marijuana truly would not have any positive outcomes on our country. Many people argue that if we legalize marijuana, we can put high taxes on it and improve our economy from it. However, marijuana is very easy to get from other sources, so why would people buy taxed marijuana when they can get along just fine with marijuana bought from other locations? DuPont par. 11). People can grow their own marijuana in their backyards, get some from friends, or even get it from another country. In addition, the legalization of marijuana could lead to people advocating for the legalization of other, more dangerous drugs, which would cause of plethora of new problems. In the end, legalizing marijuana would truly do no good for our society. In conclusion, legalizing marijuana would not help at all in our fight to prevent the abuse of this drug.Legalizing marijuana will lead to numerous health problems, will hurt the safety of all people, not just the users, and it will do no general good for society. In fact, legalizing marijuana will simply increase the number of users and abusers. An effective way for controlling our countryâ€⠄¢s use of marijuana would be creating more prevention awareness problems. Many people do not know the harmful effects of marijuana and if they did, the amount of people who use marijuana would most likely drop. We need to take action to educate people about the harmful effects of marijuana so that this issue oes become exacerbated in the future. Works Cited â€Å"Arguments For and Against Legalizing Marijuana. †Pros & Cons of Legalizing Marijuana. University of Missouri at St. Louis. Web. 11 Sept. 2012. DuPont, Dr. Robert L. â€Å"Why We Should Not Legalize Marijuana. †Marijuana & Money. CNBC. 20 Apr. 2010. Web. 11 Sept. 2012. â€Å"Effects of Smoking. †Diseases & Health Conditions. Livestrong. 2012. Web. 11 Sept. 2012. â€Å"Marijuana. †DrugFacts. National Institute on Drug Abuse. Nov. 2010. Web. 11 Sept. 2012. â€Å"What are the medical dangers of marijuana use? † Health Concerns. Harvard. Web. 11 Sept. 2012.

Americas involvement or lack of during the holocaust Essay

Americas involvement or lack of during the holocaust - Essay Example This German policy led to the massacre of millions of Jews during the 1930s. Yet the U.S remained aloof from the situation in Eastern Europe. Several views have been highlighted to defend the role of US in the holocaust. Some state that the country was adhering to its foreign policy rules. Many suggest that it was ignorance or simply denial of the original facts. Many also state that the anti Semitism was behind the non involvement of the US in the European affairs. In this paper I aim to discuss the various theories behind the non involvement attitude of the US towards the holocaust. I shall explore every theory with different angles thus highlighting the underlying factors behind the lack of involvement of the United States in the Eastern European affairs during the holocaust. The paper will highlight the motives which led one of the most influential nations of the world from keeping away from the international affairs of other countries. The Americans did not involve themselves in rescuing the Jews from the German persecution partly because they had adopted the policy of isolationism which stated that they would not get involved in other countries international and domestic issues. Although many claim that the US was unaware of the mass scale killing of the Jews, still some information was provided to the government. The government however decided not to interfere in the matter. According to the online holocaust encyclopedia, in August 1942, the US State department received a cable which confirmed the Nazi plan of killing all the European Jews. The report was sent by Gerhard Reigner, a representative of the World Jewish Congress in Geneva. A copy of it was also sent to an American Rabbi, Stephen Wise, who was asked by the government not to raise an issue about it. The report was also not shared with the other government officials (Holocaust Encyclopedia, 2008). In another incident a Polish courier Jan Karski

Contemporary issues in marketing Essay Example | Topics and Well Written Essays - 2500 words

Contemporary issues in marketing - Essay Example Several global companies have been designing marketing strategies since the wake of the 21st century technological development and the financial crisis in recent times, and some of them have actually survived the hard economic times. One of the companies that have had an outstanding market strategy in the 21st century is Toyota Motor Corporation. Toyota is one of the leading automakers in the world, with a wide range of vehicle models for its customers. The company’s sale in 2002 estimates around 6.17 million units worldwide. In addition, the company has more than 11 manufacturing affiliates and subsidiaries and 12 plants, 45 manufacturing companies with locations in 27 countries all over the world. One of the major contributing factors for the company’s success is its marketing communication strategies. Marketing communication include practices like advertising, packaging, publicity, public relations, sponsorships, sales promotion among others. Marketing Communication Toyota marketing communication strategy employs both product-led information and communication plan around specific vehicle brands, as well as corporate-led communication on its objectives in the industry. This is an effective mode of marketing strategy considering that Toyota is a monolithic corporate brand. The corporate objectives are part of the Global Vision Document unveiled in 2010 as a managerial guide for the company. For instance, according to Grant 2005, Toyota ran articles in the Japan Times in 2003 educating the readers on the environmentally friendliness of its â€Å"green† cars The company is also establishing a leaf care logo to portray its efforts in reducing environmental effects of its products in the sector, its plants, and all the processes. This part of its communication strategy enhances its relations with the community that buys its products, as well as those living in its workshops’ neighborhood. Toyota has been establishing initiatives that he lp it communicate with the communities within its market target. Some of these initiatives include volunteer services to the surrounding community and financial assistance in form of grants. By engaging in such activities, Toyota is sending a message to the outside world of its social responsibility, a factor of consideration that influences the customers’ preference in the automobile market. These efforts highlight it as a responsible company that offers reliable products, thus capturing and maintaining a market niche for it. In addition to its environmentally conscious efforts, the company has consistently been enhancing its employees’ awareness on environmental credibility concern through bulletins within the company, environmental booklets issued to employees at the company’s sites, educative seminars, and events held on occasional basis, like the Environment month. The company also rewards employees who involve themselves with voluntary services like creati ng awareness of environmental responsibility through initiatives like tree-planting, cleaning riverbanks, and others. January 2002 saw the introduction of a new communication exercise that incorporates screening of movies (Like Erin Brokovich) to inform them of the benefits of the environment. To understand the Toyota marketing communication str

Violence again women in peace time Assignment Example | Topics and Well Written Essays - 250 words

Violence again women in peace time - Assignment Example 81). In societies with high violence levels against females, several women pregnant with a girl perceive that it would be better if the child were not born. Several eminent scholars, like Barberet and Cain, have stressed that women are regarded as individuals who have to be coerced, disciplined and given away (Barberet, 2014, p. 96). There is a failure of law and justice, in responding to violence against women and girls. Religious and other cultural attitudes have a patriarchal predominance, which subjugates women (Barberet, 2014, p. 97). Consequently, for protecting a girl child, it is inevitable to study the issues of violence against her mother and the extant related protections. This is because the girl starts her life as a baby in her mother’s womb, and if the mother’s rights are not strictly safeguarded, it would be impossible to safeguard the rights of the child at birth or during her

A commercial office environment Essay Example | Topics and Well Written Essays - 2000 words

A commercial office environment - Essay Example Linux runs on a variety of hardware platforms including Sun, Intel and digital. To meet its role and stand out from similar operating systems, Linux has been included with several edge features which are constantly improved. This paper is out to present an overview of a commercial office environment in which Linux is applicable, mention the relevant factors for the Linux to be deployed in such an environment and present the successes associated with this Linux deployment (Siever and Robbins, 2005). Considering the way a commercial office environment is a dynamic network that entails many key requirements such as scalability, flexibility, extensibility and adaptability, Linux is suitable in such a place as it meets all the above requirements. A commercial office is a business operation thus any equipment or facility used has to be cost effective. This is where Linux beats most of Operating Systems as it is free thus economical to any office environment. Such an environment operates best with Java development as the office activities call for the need to access network resources in a way that cuts a cross platforms allowing for addition applications into the network is the shortest time possible. Linux is the best when it comes to such adjustments which are common in offices. Now that the office environment is ever changing, workers need to be in a position to log in from different locations and stations and at the same time consistently accesses of the files shared. This is a c ommon practice in commercial office environments and Linux makes it as easy and convenient as possible. This will allow the workers work in an environment that is familiar thus increasing their productivity (Rubin and Corbet, 2005). Traditionally, most if not all the machines in commercial offices were operated with Windows NT, with their software servers being Solaris. Such a set up called for the need of additional

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

The Bookshop - Essay Example The Bookshop, a novel by Penelope Fitzgerald got published in the year 1978. The novel primarily deals with a small English town in the late 50s, where the parochial attitude and approach towards things and issues bring to test the very grit and resilience of the ordinary people trying to achieve ordinary goals in a somewhat extraordinary way. The Bookshop attempts a realistic approach towards a moral and ethical map making of this small English town that is not only marvelously piercing in its force, but is also rather imbued with a wry and ironically comical animation (Wolfe 30). The Bookshop is a novel whose true strength does not lie in the unfolding action. Nor is this book peculiarly marked by an intensely exciting plot. Rather the books conjures up the reader’s interest and participation by its evocative delineation and chronicling of the prosaically ordinary times, and how the very ordinary people try to come to terms with and succeed against the limitations and constr aints imposed by these times (Janik & Jankik 125). The Bookshop is primarily about the extraordinary persistence and will required by the ordinary people to fulfill their seemingly simple and readily accessible goals. It celebrates the courage mustered by the ordinary people against the stifling narrow mindedness, starkly limiting regimentation, and the blatant injustices imposed by the financial and social inequalities in the ordinary day to day life (Lewis 27).

Developments of Music and How the Internet Has Changed the Music Essay

Developments of Music and How the Internet Has Changed the Music Industry for Artists - Essay Example Later on in the century, other modifications had to be fixed to the mechanism to enable audio playback for the sounds captured by the device (Inglis 2006, p. 111). This was essentially in the form of a phonograph, which was pioneered by Thomas Edison. The phonograph enabled for the reproduction of the recorded music as opposed to the phonautograph that only enabled recording but no playback. An advancement of the phonograph led to the invention of the world renowned gramophone, which then set a new bar in the production of, and recording of musical pieces. Emile Berliner held the patent for the gramophone, thereby cementing her name in the music production history. It also brought the onset of disks as a medium for storing sound pieces and later on allowing for their playback through a form of rotational mechanism. However, all these advancements in the production of music still relied on mechanical mechanisms, as their periods of invention fell within the time that could not allow f or integration with electricity (Fenlon 2009, p. 243). The onset of electronic recording was in the early 20th century, and this greatly improved the recording and production of music. This was especially with the advent of the microphone, which replaced the initial mechanical means of recording sound. After the introduction of the electric forms of music recording, most of the music production processes adopted the microphone as the chief equipment for recording music (Goetschius & Tapper 2001, p. 211). This was still reliant upon discs where the electronic recording would be applied either on a single side or on both sides of the disc. Furthermore, another breakthrough in the line of music recording came with the invention of magnetic form of music recording. This was through an... This essay approves that music production has been highly modernized in respect to technological advancements. This is especially since the first forms of music production were an easy task that involved neither a lot of people nor any forms of complex instruments or mechanisms. The pioneering music production mechanisms involved quick processes that took only a couple of days and the music would have been produced. These early forms of recording, such as acoustical recording mechanisms, involved live and direct recording of the music on a medium. Through this, music was passed through some medium to finally reach the audience. This report makes a conclusion that upcoming artists need not be within recording studios as they can easily send their raw musical compositions to producers through the internet who then process it and give them feedback still through the internet. On a general outlook, the internet is used throughout the production of music in the contemporary world. All processes ranging from the recording to the advertising and distribution is web based and the process has been made even faster. The development of music from the initial phases pioneered by Thomas Edison to the era of the internet in relation to music production has highly influenced the trends in how music has developed. All the stages have been essential in music transformation, with the internet being the most revolutionary in most perspectives.

The Castle Doctrine Essay Example | Topics and Well Written Essays - 500 words

The Castle Doctrine - Essay Example This argument showcases, according to the report, â€Å"a loss of faith in law enforcement†(â€Å"The Castle Doctrine†). With the police being stretched thin due to an increase in crime, people don’t want to have to wait for law enforcement to come and save them especially if they are in a potentially life threatening situation. The New Castle Doctrine takes away the â€Å"vulnerability† that people feel in an increasingly violent world and makes them feel safer(â€Å"The Castle Doctrine†). Having this doctrine to back them up is important in order to prevent someone who was merely defending themselves from going to jail as people have the basic right to protect their own lives, their loved ones, or their property. There are a few different arguments which make up the reasons as to why the New Castle Doctrine is essentially a license to kill. The first reason is that people simply aren’t very well educated on what this particular doctrine covers in terms of the situations when a person can defend themselves with deadly force. Most people simply look at this law and believe that they will be protected no matter what as long as some sort of crime was committed. Ultimately, this leads into the second argument against the New Castle Doctrine as this type of legislation basically turns people into vigilantes who take justice into their own hands regardless of the situation. This is illustrated in the case of the gas station clerk who shot a man after he stole a case of beer(â€Å"The Castle Doctrine†). The New Castle Doctrine allows a person to exact their own vengeance even if the punishment does not fit the crime. Finally, those against the New Castle Doctrine believe that it will r eally hurt the legal and court system within the country as many of these vigilantes are being acquitted of any wrong doings due to their claims that they used deadly force because of the New Castle Doctrine. This might lead to a slew of criminals

Feminism and the Importance of Identity Politics Essay Example for Free

Feminism and the Importance of Identity Politics Essay â€Å"To be feminist in any authentic sense of the term is to want for all people, female and male, liberation from sexist role patterns, domination, and oppression†. Bell Hooks succinctly sums up what it means to be a feminist, and yet when we look to the feminist movement and feminist theorizing today, we see a disturbingly different picture. In a social movement founded on equality for all human beings, the patriarchy and its’ power structures have still made a negative impact in the way this movement is shaped and perpetuated, especially in terms of intersectionality and identity politics. Whose voices are heard? What issues are prioritized? Who is considered a â€Å"true† feminist? When we ask how and why issues of identity and intersectionality are relevant to feminist theorizing, the answer is simple. When the true and complex identities of individuals and social groups are ignored, what forms is a limiting and narrow view inherently oppositional to the movement’s foundation and goals. Essentially, ignoring these issues means perpetuating the oppression the movement itself is trying to fight. What follows is a brief analysis on three reasons why feminists should care about identity and individuals with complex identities: 1) addressing oppressions in a movement dedicated to eliminating all oppression, 2) identifying the negative consequences of elision of difference, and 3) recognizing the real importance of intersectionality in terms of survival in the real world, as opposed to simply theorizing in academics. While the feminist movement is explicitly dedicated to fighting racism and any other types of â€Å"isms†, we see that typically marginalized groups continue to be marginalized within the movement. These groups are well aware of this oppression, yet how often their voices are heard or even considered are slim to none. In a statement from Black feminists part of The Combahee River Collective, it is explained that there was â€Å"the need to develop a p olitics that was anti-racist, unlike those of White women, and anti-sexist, unlike those of Black and white men† (CRC: 59). As members of two oppressed groups in society, Black women face the highest obstacles in their pursuit of complete liberation, especially because of the dominant narrative and voices that have typically commandeered the political movement. As Kimberle Crenshaw purports, â€Å"the need to split one’s political energies between two  sometimes opposing groups is a dimension of intersectional disempowerment that men of color and white women seldom confront† (Crenshaw: 85). The intersectional experience of White women have typically dominated the women’s movement as White women have had more accessibility and opportunity to speak out/theorize academically as opposed to Black women. Thus, the experiences of Black women – which are distinguishably different from the White woman’s are essentially absent from the discussion, an issue that is highly problematic as it points to racism and oppression within a social justice movement (not to mention a limited perspective). Feminist theorists and activists must make sure to account for intersectional experiences in order to avoid this hypocrisy. Specifically, White feminists and activists must understand that their role as genuine activists in the movement mandates a need to be educated and literate in Black history and culture, something that the Combahee River Collective has explicitly called for. As they argue, â€Å"eliminating racism in the white women’s movement is by definition work for white women to do, but we will continue to speak to and demand accountability on this issue† (CRC: 63). Being a conscientious and fully aware member of this movement involves more than addressing intersectionality and racism within the movement. Feminist theorists need to identify the importance of 1) making the personal political, and subsequently 2) avoiding the harmful and common elision of differences between and within groups. These two ideas cannot happen or be fully achieved without the other. The first step requires a great deal of honesty and self-reflection, which may come with some discomfort and pain, a reason that many individuals may avoid this introspection. As Mari Matsuda argues in her article, â€Å"by claiming, exploring, and questioning my own identity in an explicit way, I seek truth, and I seek to encourage my students to do the same† (Matsuda: 75). Feminist theorists must consider the value of truth and justice over any type of discomfort or personal guilt that blocks the path towards complete liberation for all. Just as honesty is crucial in terms of oppression within the movement, it is also key in recognizing privilege. Matsuda supports this idea: â€Å"I do not know of any other politics of social change that works other than the one that asks people to explore deeply their own location on the axes of power† (Matsuda:  76). Once one has a certain amount of self-awareness and recognizes their privilege, only then can they be able to avoid ignoring intragroup differences. Ergo, the White woman cannot fully understand the complexity struggle of a Black woman’s experience in the movement if she does not understand her own privilege over the Black woman within the same movement. While intersectionality is quite real in the day-to-day lives of women, feminist theory has typically categorized identity as a limiting either/or dichotomy between â€Å"woman† or â€Å"person of color†, leaving women of color marginalized. In terms of violence against women, Crenshaw argues that this elision of difference is harmful because it is perpetuating the violence by not fully understanding how multiple dimensions of woman’s identity contribute to her experience. For example, in our society ruled by a racist/patriarchal structure and system, battered women of color face poverty and racially discriminatory employment/housing, thus have a much harder time finding shelter and support. The elision of difference can also be harmful because it poses as a threat to solidarity – ignoring intragroup differences simply continue to raise tension between these sub groups and ultimately harms the progress of the movement, which requires everyone to stand with one another. Lastly, feminist theorists must recognize the importance of intersectionality and identity as transcendent issues that go beyond simply theorizing and play a very real role in the lives of women every day. As Crenshaw argues, â€Å"The struggle over incorporating these differences is not a petty or superficial conflict about who gets to sit at the head of the table. In the context of violence, it is sometimes a deadly serious matter of who will survive and who will not† (Crensaw: 89). The commonly shared assumption that battering is a minority problem, for example, exemplifies the issues with ignoring intersectionality/identity. Battering is a human problem, and if a Latina woman cannot get shelter from a husband threatening to kill her multiple times because she can’t prove she is English-proficient, then something is very wrong. These exclusionary policies are inherently oppositional to the goal of human liberation and the women’s movement, and if feminist theorists do not address this, then not only will real change remain absent, but we will continue to lose the lives  of women around the world. These are human beings that deserve to live and exercise their rights; that deserve to celebrate their multi-dimensional identity, instead of suffer from it because feminist theory and societal structure are ignoring them. Feminist theorists, we need you to be honest with yourselves and your privilege. We need you to address the complexity and beauty of every individual, help use these differences to resist against oppression instead of perpetuate it, and ultimately harness and use the full power of group solidarity to truly and genuinely fight for human liberation.

Advertising In Our Life Essay Example for Free

Advertising In Our Life Essay When I was browsing the internet, an advertisement caught my attention. It was a Nike skateboarding advertisement. The clip has a nice soundtrack, technical tricks, good pace and nice scenery. When you see that advertisement, it will help to change your mood for the day. The video focuses on the Nike shoes line known as SB dunk. Nike, by understanding its audience, has created an effective advertisement through the internet. This advertisement runs for 2 minutes. It shows people from various nations skateboarding and everywhere wearing SB dunk. On the sidewalks in Los Angeles, the skateboarders use the grinding rails to slide with skateboards. In New York, they use benches to do tricks and slide. In Italy, the skaters play in the park near a beautiful river, and lastly the d shows skateboarders skating down the slopes in the San Francisco area. Most of the places contain graffiti art in their surroundings. This gives us the atmosphere of a street culture. The video also shows an event that took place in USA where there were lots of professional and famous skateboarders wearing SB dunk taking autographs. The end of the advertisement shows the Nike SB logo. Back in its earliest days, Nikes product still carried the classic Nike logo without the SB at the right bottom. However, in 2005, Nike has started changing the logo by adding SB at the bottom of the logo, which stands for skateboarding. This could make the people distinguish its skateboarding line from another Nike product such as tennis, soccer and even basketball. In an advertisement, the model are wearing the Nike logo with SB on it. The Nike SB logo that appears in this clip is white on a black background. I think that this color is very unique and simple. Both of these colors are good for advertising. They are used to signify power and create a sense that the company is professionalThe video also uses language to appeal to consumers. There are three quotes that appear in the advertisement. The first quote is Master Technician. I think that this quote is trying to tell us that when you wear these shoes, you will master the techniques in skateboarding. The second quote isSerious Commitment. For most people who purchase these shoes, they believe that wearing the shoes will get them to commit seriously to skateboarding. The last quote is, Limited Edition. Most of the people in  that advertisement are wearing limited edition shoes. One of them is called the Heineken SB dunk shoes, which are very limited and the price is very high, starting from 500 dollars. The color provided and the pattern of the shoes is designed by artists in Holland. Until now there are only 65 types of shoes, but not all of them are limited. The other limited shoes that attract my eyes in the advertisement are the denim shoes. The denim shoes, more limited than Heineken shoes and the price are more than one thousand dollars. This great advertisement will attracts attention of the youngsters to buy the Nike SB product and it could be the envy on 6h3e streets among skaters. Skateboarders are individuals who desire to stand out among the people. Therefore, they p robably love the fact that there arent many others who are wearing the same shoes. This advertisement is targeting teenagers who are skaters. This idea is apparently trying to target male group and not the female. By showing various countries, and the autograph session by professional skaters, it is trying to depict that the shoes worn by famous skaters who are also celebrities around the world. If skaters see this advertisement, they will believe they could be like one of the professionals when they are wearing the shoes. They also show fabulous skateboarding trick. Skaters will assume that by wearing the Nike SB, they could perform like the professional in the advertisement. The shoes are worn by Tony Hawk, Mark Appleyard, Pj Ladd and other famous skaters. Although most of the music in the advertisement features Rock and Hip Hop, which are associated with teenagers and skateboarding, Nike SB promotes its products in advertisement differently. Instead of Rock or Hip Hop music for the skateboarding advertisement, Nike uses a classical, soft and comfortable music for us to enjoy while watching the advertisement. In this commercial, the beautiful scenery in different countries shows that the shoes are appropriate and comfortable to wear in every location. Nikes top of the line skateboarding product is mainly shoes. Nike launched this line in 2002 to enter rapidly growing skateboarding market. I think by making this advertisement, the company could increase more attraction for  the people especially the skateboarders. Skateboarding still are a relatively small community, not enough to attract serious interests from major shoe makers while they were battling out in the precious basketball territory. I think that this advertisement gives Nike a chance to gain ground in the skateboarding market. To attract and establish itself as a major force in the market, Nike, has successfully made this advertisement for skaters. Work CitedNike SB advertisement. The name of the website is sole redemption. Date posted was 4 February 2006 07:14p.m. Date I looked at the advertisement was 2 March 2006 (http://www.soleredemption.com)

Global Health Issue Analysis: HIV/AIDS

Global Health Issue Analysis: HIV/AIDS GLOBAL HEALTH ISSUES Global issue is a broad description that is often used to explain matters of great social concern that affect human populations locally and that are shared among diverse human societies within our global community. Global issues koncern us all and one at the heart of many valuable learning experiences. Issues such as environment al sustainability, health, peace building and human rights focus students attention and contemporary events and how they affect our lives at a local and global level. Many people argue that globalization has Server to bring the world closer together creating a more cooperative environment. The impact of new information and communication Technologies has changed the way people learn, work and live. From the suffering of the Second World War emerged a new international organization- the United Nations. The United Nations founding, In 1945, enabled its Member States and their peoples to work together to promote peace and cooperation, economic and social development, and a clear Visio codified by international law. In 1981, one of the leading causes of death in our time broke upon the world scene. The new ailment was named acquired immune deficiency syndrome(AIDS) and also Human immunodeficiency virus(HIV). HIV means that you have tested positive for the virus and it does not become AIDS usually for ten years or until immune system problems appear. HIV/AIDS causes immense suffering to millions of people. UNAIDS (the joint United Nations programme on HIV/AIDS showed that HIV/AIDS has bee diagnosted in every continent on the globe, yeti t is distribution is far from even. One of the many consequences of the pandemic is that it has a major impact of life expentancy among the worlds poorer countries. The impact of AIDS on life expectancy is also felt beyond Africa, albeit somewhat less dramatically. Haitis life expectancy is currently almost six years less than it world heve been without AIDS, in Combodia it is currently four years lower. South Africa has also been affected, in Guana, for example, the probability of becoming HIV- positive between the ages of 15 and 50 is 19% or nearly 1 in 5. North America, for example, has 950.000 people living with HIV/AIDS and Western Europe 550.000 whilst in Australia and New Zealand 15.000 people (UNAIDS, 2002). In Africa, 28 million people are infected with HIV and 11 million African children are thought to heve been orphaned by AIDS (WHO, 2000). Kopelan and van Niekerk (2002) suggested that the scale of the HIV/AIDS epidmic in Africa is often explained away by pre-existing notions of a diseased, corrupt and backward continent and they argue, forcefully, for international support, albeit with reather than for African countries. Unfortunatelly biomedical and pharmaceutical responses have had a relatively small impact upon the pandemic. Attempts to devlop vaccines, for example, have had limited success and these endeavours have probably been hindered by the allocation of relatively Modest amounts of funding. Between US dollars 300-and US dollars 600-million a year have been spent on the development of HIV vaccines(UNAIDS, 2002). There has been more success in the development of antiretroviral drugs and these are prolonging thousands of ives in high- income countries(Babiker et al., 2002). However, these drugs continue to remain inaccessible to the majority of those infected by HIV. Since the people most affected by HIV/AIDS are often those with the least access to economic power or political influence it is, perhaps, hardly surprising that so many governments offer such a lukewarm response( de Wall,2002). In many of the poorer countries in which HIV/AIDS predominates, and where people with AIDS have little or no access to medical care or treatment, responsibility for the care of the dying ultimately falls on the poorest households (Ellison et al.,2001). In countries where governments do not take the initiative in responding to HIV/AIDS, and where the disease is often shrouded in stigma and denial, there is unlikely to be widespread popular presure for change. In this way, at an individual and a social level, the enormity of AIDS and the burden of copying tend to get hidden in the lives of ordinary familie( Palloni and Lee, 1992). UNAIDS Global Reference Group on HIV/AIDS and Human Rights (2004) ensuring rights based approach is: the global scalling up of the response to AIDS, particulary in relation HIV testing as a preveguisite to expanded access to treatment, must be grounded in sound public health practice and also respect protection, and fulfilment of human rights norms and standarts. The voluntariness of testing must remain at the heart of HIV policies and programmes, both to comply with human rights principles and to ensure sustained public health benefits. The following key factors, which are mutually reinforcing, should be addressed simultanously : Ensuring an ethical process for conducting the testing, including defining the purpose of the test and benefits to the individuals being tested and assurances of linages between the site where the test is conducted and relevant treatmant care and other services, in an environment that guarantees confidentiality of all medical inforamtion. Adressing the implications of a positive test results, including non discrimination and access to sustainable treatment and care for people who test positive. Reducing HIV/AIDS- related stigma and discrimination at all levels, notably within health care settings. Ensuring a supportive legal and policy framework within which the respons eis scaled up, including safeguarding the human rights of people seeking services. The HV/AIDS epidemic has deep historical roots. The epidemic have to be seen against this broad background. There are lessons to be learned, not Just about this disease, but about health, well-being and development as well.It is the first global epidemic of which we have been commonly conscious. Health and well-being are not individual concerns: they are global issues. There are opportunities for innovation and for more ‘goods but there is only a glimmer of hope . These are: Global intersectoral action through transnational co-operation and partnerships between public health and trade and finance sectors. Pro vide information about comparative health status and global determinants of health and well-being. Research programmes that concentrate on developing cost-effective technologies to improve the status of the poor. Recognition that management of health and well-being is a common human project and that the for-profit sector can only have limited incentives to meet those needs (Alonso, 2001). But there are many abstacles because we need to persuade people of the true cost of HIV/AIDS and business has a role to play, but the business of business is profit no welfare. Perhaps that is also an assumption that must be challenged. In the same way that HIV/AIDS is about more than health, so business has responsibilities beyond three complementary mechanisms: the market- distribution through competitive pricing, second one is the hierarchy- distribution through organisation process and the last one is values- distribution as a response to accepted ethical principles (Alonso, 2001). Through unprecedented global attention and intervention ef fors, the rate of new HIV infections has showed and prevalence rate have leveled off globally and in many regions. Despite the progress seen in some countries and regions, the total number of people living with HIV continues to rise (Barnett and Prins, 2006). In 2007, globally about 2 million people died of AIDS, 33 million were living with HIV and 2,7 million people where newly infected with the virus (WHO, 2008). The impact of HIV/AIDS on women and girls has been particulary devastating. Women and girls now comprise 50 percent of those aged 15 and older living with HIV but, the impact of HIV/AIDS on children and young people is a severe and growing problem. In 2007, 370,000 children underage 15 were infected with HIV and 270,000 died of AIDS and about 15 million children have lost one or both parents due to the disease (WHO, 2008). The sixth Millennium Development Goal (MDG) focuses on stopping and reversing the spread of HIV/AIDS by 2015. Global funding is increasing, but global need is growing even faster-widening the funding gap. Services and funding are disproportionately available in developed countries. HIV infections and AIDS deaths are unevenly distributed geographically and the nature of the epidemics very by region. Epidemics are abating in some coutries and burgeoning in others. More than 90 percent of people with HIV are living in the developing worl (UNICEF, 2007). The health care systems of most African countries, already inadequate. As the serious nature of the pandemic and it is effect on the developing world came into sharper focus in the 1990s, so did the incoherence of international policy. The nature of the crisis was given recognition in 1995 when the United Nations set up UNAIDS to co-ordinate global policy by bringing together under one heading six key international agencies: WHO, UNDP, UNICEF, UNEPA, UNESCO and the World Bank. The re-orientation of policy towards AIDS was proposed, more or less across the board, in the face of increasingly pessimistic forecasts of the effects, both short and long term of the pandemic on whole populations in Africa (Ellison et al.,2003). In Southern Africa insurance companies are gathering such information because they routinely test people before offering cover. These data are biased to those applying for policies and are often comercially sensitive and so they tend not to be publicly available. For companies wishing to estimate how the epidemic is going to affect their workforce, the advert of saliva and urine tests mean, surreys can be carried out more easily. This is a routine procedure to test blood donations and these data can provide a picture of what is going on in what should be a low- risk group. HIV data are also collected and constructed according to political, social and other biases (UNAIDS, 2000). HIV/AIDS is not the first global epidemic, and it wont be the last. It is the disease that is changing human history. HIV/AIDS shows up global inqualities. It is presence and impacts are left most profundly in poor countries and communities (Bernett and Whiteside, 2006). Public health system are undefunded; politically they attract few votes, and in parts of the world they are close to collapse. For the moment, there is only a mere itimation of any system of global public health. Social and economic conditions negate many gains made by any particular intervention. Health is not any about confronting individual diseases. Well-being, of which health is a part, is a reflection of general and economic conditions (Anderson and May, 1992). Economic impact means that families suffer major economic problems as productive adults become ill, including: loss of income as family members become sick and are unable to work, or have to give up work to care for the sick and limited income being consumed by expensive drugs and funerals. Countries suffer significiant economic impacts including: los of investment in education and the knowledge and skills of professionally trained people, reduced ability to produce food and high costs of treatment and demands on health system (Adler, 2001). Human and social impact means that peoples who lives are affected in many ways which include: a wide variety of physical health problems , social isolation due to stigma and misunderstanding of the spread of the disease (Barnett and Prins, 2006). The purpose of workplace policy on HIV/AIDS in South Africa (UNAIDS, 2008) is to provide clarity on TOTALs views and commitments with regard to HIV/AIDS and the comprehensive management of HIV positive employees and employees living with AIDS. TOTAL is fully committed to protect employees, create awarness, encourage behaviour changes where necessary as well as ensure that all employees are treated with the necessary dignity, fairness and equality (USAID, Global Partnership, 2004). Some major reasons for unnecessary deaths around the world are therefore due to human decisions and politics, not just natural outcomes. Well- intentioned companies, organizations and global action show that humanisty and compassion still exists, but tackling systematic problems is parramount for effective, Universal health care that all are entitled too. Addressing health problems goes Beyond just medical treatments and policies; it goes to the heart of social, economic and political policies that not only provide for healthier lives, but a more productive and meaningful one that can benefit other areas of society. Bibliography: De Wall, A. (2006) Aids and power. South Africa Barnett, T., Whiteside, A. (2006) Aids in the Twenty- First Century, Disease and Globalization. 2nd ed. Palgrave Macmillan. Hunter, S. (2003) Who cares? Aids in Africa. New York. Bond, G. C., et al. (1997) Aids in Africa and the Carribbean Ellison, G., et al. (2003) Learning from HIV and AIDS. Cambridge: Cambridge University Press. Barnett, T. and Parkhust, J.(2005) HIV/AIDS : sex, abstinence and behaviour change. Lancet Infections diseases. 5 (9), 2-5. Stillwagon, E. (2005) Aids and the ecology of powerty. Oxford: Oxford University Press. UNAIDS Global Epidemic Report (2000), accessed on 25/11/09, (http://www.unaids.org/). Centres for Disease control and prevention from: ( http://www.cdc.gov). Anderson, M. and May, R. (1992) Infections disease oh humans: Dynamics and control. Oxford: Oxford University Press. Adler, M.(2001) The ABC of AIDS. London. Farmer, P.,(1999) Infection and Inequalities: the modern plaques.California: University of California Press. Barnett, T. and Prins, G. (2006) HIV/AIDS and security: Fact, Fiction and Evidence. London. Caldwell, J.C., Caldwell, P. and Quiggin, P.(1989) The social context of AIDS in Sub- Saharan Africa. Population and Development Review. 15(2), 185-234. UNICEF (2000) The Progress of Nations. New York. World Health Organization (2000) The World Health Report 2000: Health Systems- Improving Performance. Geneva. Palloni, A. and Lee, Y. J.(1992) Some aspects of the social context oh HIV and it is effectson woman, children and familie. Population Bulletin of the United Nations. 33(2): 64-87. Garnett, G. et al. (2002) Antiretrovival therapy to treat and prezent HIV/AIDS in resource-poor settings. Nature Medicine.8(6): 651-654.

How Miller creates Dramatic Tension in Act One of The Crucible Essay

Twentieth Century Drama How does Miller create dramatic tension in Act One of "The Crucible"? "The Crucible", by Arthur Miller, focuses on Theocracy and the effect it can have on a community, as well as on an individual. From Act One, Miller creates dramatic tension in many different ways. These include dramatic irony, and sudden twists in the plot, as well as the range of emotions that Miller's characters express both frequently and eloquently. As the curtain rises, the audience are curious as to why a man who is so clearly distressed is sat over the girl, Betty, who lies motionless and 'inert' on a bed. The audience grows more curious as he calls for God to help him, and the audience are intrigued, wondering what is happening. In a direct contrast to this, the ending of the scene is loud and frantic, leaving nothing to the imagination, with all the girls screeching and accusing. The intense power that the girls? poses is intoxifying, and is illustrated when a character orders: ?Let the marshal bring irons? This shows the control these children have, if they can alter the minds of these men, persuading them to lock up innocents. This also shows the control they have over the whole community. The visual impact of the opening scene is that of a ?clean spareness?, the room only contains the bare minimum needed. This also relates to the Puritan way of life, ?vanities? were frowned upon and rooms were furnished with only what was necessary. The fact that rev. Parris is ?evidently in prayer? has religious references which, as the play goes on, are confirmed. The quote: ?There is a narrow window, through its panes the morning sunlight streams? also indicates that the room is basic ? it would seem that even lig... ...sympathy to those doomed to this fate, after doing nothing wrong, who are merely counters in Abigail?s sinister game to gain attention. When Hail orders for: ?the marshal [to] bring irons? it shows a high form of drama, as the curtain drops leaving the audience to imagine the next scene, innocent women being drawn form their families. In conclusion, I enjoyed this play, and my reaction was enhanced by the dramatic tension Miller creates in so many ways. The unexpected twists and use of dramatic irony help to keep the audience?s attention, while the sub-plot of rivalry adds interest and also reflects the main plot. The abrupt ending of act one, reflects the abrupt ending of the play as a whole, leaving the remainder to the imagination. Ending like these force viewers to envision what would follow, and, once again this all adds to the dramatic tension.

Chronicle of a Death Foretold Essay -- Chronicle of a Death Foretold V

Chronicle of a Death Foretold The type of violence portrayed in Chronicle of a Death Foretold is more of an honor killing, in which two innocent young men feel pressured by society to become violent, instead of their own intentions. The standards and expectations of the society and their own mother who summoned them with the problem expected them to take care of the situation and regain their sister's honor. The kind of violence seen in Billy Budd differs in that it is a regulatory measure meant to keep order and obey the rules of a society and an institution. While both acts of violence are not the pure testosterone driven raging acts seen in modern day news broadcasts, they differ in that they also show a background of honest premeditation. Both were committed for very serious, purposeful reasons of which the murderers knew the full weight of their actions and that was exactly what they intended. In both novels, the murder committed took away a good person's life, while to many witnesses and accomp lices there was a shadow of doubt as to the good intentions and reasoning behind these deeds. The misguided intentions began in Marquez's novel witht he arrival and objectives of Bayardo San Roman. He thinks he deserves a "perfect" bride and has come to this small Caribbean town to find her. Based on looks he picks Angela Vicario, without even knowing her or spending time alone he wants to spend his life with her. This kind of egotism and obvious materialism demonstrates that Bayardo wants Angela based on her looks and "pure" reputation that there are "no better-reared daughters" than the Vicario ones (Marquez 31). She personally means nothing to him, and he wants her for all of the wrong reasons. He is able to... ...to happen, regardless of a moralist’s sense of justice and human rights. Their job was to serve Britain in her Navy during the time of Napoleon, regardless of the personal infringements on the liberties of the crew. Those were minor in comparison to the safety of Britain and her King. The sense of regret and shadow of doubt which lingers after each of these murders, Billy Budd’s execution and the murder of Santiago Nasar, indicates injustice of the system and special circumstances. If the Vicario brothers did not live in a time when all felt it was their â€Å"duty† to find Angela’s â€Å"seducer,† then they would not have been compelled to commit the act they did. If Billy Budd was not at sea during a time of serious mutinies and heightened rebellions worldwide, the same atmosphere would have allowed him more justice and time for a complete trial, perhaps on land.

The Rocking Horse Winner and The Lottery Essay -- Literary Analysis

In both â€Å"The Rocking Horse Winner† by D.H. Lawrence and â€Å"The Lottery† by Shirley Jackson, the authors take critical aim at two staples of mainstream values, materialism and tradition respectively. Both authors approach these themes through several different literary devices such as personification and symbolism; however, it is the authors' use of characterization that most develop their themes. We'll be taking a look at the parallel passages in the stories that advance their themes particularly when those passages involve both of the authors' subtle character descriptions, and why this method of character development is so powerful in conveying the authors' messages. The only story in which an author employed personalization is â€Å"The Rocking Horse Winner,† and did so to profound effect. The whisperings of the house is the first indicator the reader has that the protagonist family's materialism is not merely an interesting trait (as evidenced by the description of the family's feeling of superiority in their community) but will be the focus of the story's theme and plot as well. Lawrence pays special care to make sure that the sinister mood generated by constant and ever-present whispers, and the potential to enhance the theme, does not go to waste. By assigning the whispers to specific locations and objects, having inanimate objects notice them, and having the whispers respond to events in the story (especially the introduction of Paul's â‚ ¤5000 winnings), Lawrence highlights the critical nature of his short story with regards to materialism. It is the author's portrayal of Paul, however, that most promotes the theme throughout the story. Paul's most striking trait is his obsession that, although is an obvious correlate to his... ...ose traits for the purpose of making us moral people. The reader is also asked to look beneath the veneer of civilized behavior that typically surrounds them and wonder at the possibility of such an atrocity being committed by one's neighbors in the name of tradition and community. Both of these short stories are excellent examples of works with masterfully expressed themes that leave a lasting impression on the reader. In particular, the impact of these two stories stems from the two authors' insightful choices about character description, as well as their use of literary device. Although both themes are, themselves, important, without each authors' decision to communicate their characters' traits in a subtle manner that restricted the accessibility of information to the reader, they might not have ended up being studied in literature classes today.

Financial Analysis Decision Making

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