Fraud and Highest Embezzlement Case

Embezzlement: Attempting to Find the Easy Way Out Name School Envy and greed has existed since the beginning of time. Maybe we are born with those traits or maybe we are taught through life’s lessons. The rich are perceived as having a carefree un-stress-filled life. The reality shows and news stories of the wealthy buying yachts, taking lavish vacations with their Barbie doll mate, summer homes that are actually castles and extravagant parties. The rest of the world seems to be the servants of the wealthy. How can society not be envious or greedy to obtain what the few have in their life?Part of society is happy with their position in life; just being able to pay the bills, and take care of their family is what drives them. However, the other part of society wonder, â€Å"How have some individuals been gifted with monetary wealth? †, and their resentment builds. The â€Å"Get Rich† schemes are created. The individuals trying to make the quick buck will pressure their friends and family into buying the Mary Kay, Tupperware, or lending money to place bets on Sport games or a gambling weekend at the casino. All this under the assumption that they will make a great deal of money, and earn the respect of the wealthy elite.The most well know form of money schemes is embezzlement. An understanding definition of embezzlement comes from Global Legal Resources; it states: Embezzlement is a criminal offense which involves the fraudulent and secret misappropriation of money or assets by an agent to who the property has been entrusted. This occurs when a person obtains possession of the goods or money in legal, proper manner, but then appropriates them for his/her use without the rightful owner’s permission. Six (6) cases of embezzlement stand out in Modern day History.The first case is about Yasuyoshi Kato in 1997 who managed to steal $132 million from Day-Lee Foods, Inc. of Santa Fe Springs, California. At the time, Yasuyoshi was the Chief Fin ancial Offer of Day-Lee Foods. He managed to keep the game up for six (6) years by fraud and forged checks. Yasuyoshi, a Japanese citizen, wrote checks to himself and his wife, from the various companies’ accounts over the six (6) years. He even was so arrogant that he took out bank loans under the company’s name and manipulated the accounting books to cover the theft. Yasuyoshi bought umerous luxury homes, a citrus ranch, premium vehicles, unstable business ventures that failed, jewelry and extraordinary animals. He blamed his wife in court on the reasoning on why he performed the embezzlement. Stating she was always unsatisfied. Yasuyoshi was even so ignorant that when he was asked where the money was coming from, he stated he was a secret inventor of Nintendo. In 1997, Yasuyoshi Kato plead guilty to six felony counts. They ranged from mail fraud (Statute 18 U. S. C. Section 1341) to wire fraud (Statute 18 U. S. C. Section 1343).In the end, he was sentenced to 63 mon ths in a federal state prison and an additional five years of probation. This was the maximum sentencing at this time. (Marquet, 2010) The second largest case of embezzlement was Gilbert Beesmyer of Guarantee Building & Loan Association of Hollywood, California. He was found guilty in December of 1930 (Statute 18 U. S. C. Section 981), and length of the fraud is unknown but assumed to be less than one year. Beesemyer was able to steal the equivalent of $100 million in 2010 dollars using his position within the company as the founder, general secretary and manager.The Guarantee Building and Loan Association went broke because of Beesemyer’s actions. He stole the money in form of overdraft penalties, and repeatedly stated he planned to repay the money. Even though he was sentenced to 10 to 100 years to the San Quentin prison, he was released under parole in 1940. The community that had invested in Beesemyer’s bank was destroyed. Businesses failed, 2,500 families went bro ke, individuals went to asylums and thirty committed suicide. In the end, Beesemyer was able to live his life out to the fullest at age 97 in Baltimore Maryland. Marquet, 2010) Ricardo Carrasco, a Uruguayan national, was able to embezzle $97. 7 million from the BankBoston Corp located in Boston Massachusetts. As the same as the Beesemyer’s case, officials were unable to determine the length of the fraud. He was uncovered in 1998 at the age of 41. Yet, Carrasco suspected that the bank officials finally caught on to him, so he went into hiding. Carrasco started his association with the BankBoston Corp in 1977 at the Uruguayan branch. In 1998, the bank transferred him the Boston location. Carrasco executed fraudulent loans to an Oldemar Laborda in Argentina.Oldemar Laborda has been known for having a highly suspicious past. The FDIC ordered Carrasco to repay $73 million. The bank wrote off $66 million and even offered a $10,000 reward for information leading to his arrest. But t o this day, he remains a fugitive. (Marquet, 2010) The Chief Operating Officer of Tenens Corp. , dba Essex Street Associates of Beverly Massachusetts embezzled for seven years the amount of $72. 3 million. John Doorly started with the company as a clerk, and with hard work, was able to rise to the CFO position. The clients trusted him, the company trusted him.In the seven years, he transferred assets from the clients trust accounts to his own personal accounts. Doorly established personal credit cards that the company unknowing paid for. He even overcharged clients in the excess of $61 million for his services and so-called expenses on over-seeing their accounts. Doorly spent the money on gifts for his wife and mistress, and apartment for his son, vehicles, travel, airplanes and numerous failed business ventures. He forged the statements that were mailed to the clients, and even went as far as to deceive the outside auditors.Doorly’s new assistant, Kim Borans, was the one who found irregularities in the accounts. She immediately went to one of the officers of Tenens Corp to report her findings and suspicion of embezzlement. Doorly was fired and a forensic internal audit was conducted of his accounts. On March 201, Doorly was sentenced to 17-1/2 years to a federal prison. (Marquet, 2010) The fifth highest embezzlement case is Ausuf Umar Siddiqui, the vice president of Merchandising and Operations of Fry’s Electronics located in San Jose, California. He pled guilty of vendor fraud and kickbacks in the theft of $69 million.The scheme began in January 2005 and ended when he was finally caught in November 2008. Siddiqui had a base salary of $225,000 a year and was the supervisor of 120 employees in purchasing department. His department was responsible for purchasing merchandise on all Fry’s 34 locations. Siddiqui even went as far is to set-up a dummy vendor where he could embezzle the money. He stole the money to satisfy his gambling habit and the need to live the high life. At the time Siddiqui was caught he was being sued by three casinos, Planet Hollywood, Palms Casino and Trump Taj Mahal, for outstanding debt on gambling.Venetian Resort and Casino in Las Vegas reported that he gambled $17. 9 million dollars with them alone. An investigation showed that his gambling debt over a ten-year period is approximately $167 million. (Marquet, 2010) A case the hits close to home is the Koss Corporation. Sjuata Sachdeva was the Chief Financial Officer of Koss Corporation located in Milwaukee Wisconsin. She began her career with the company as a temporary worker, and within one year was promoted to vice president of finance. Over a span of twelve years, Sachdeva was able to embezzle $40. million by fraudulent funds transfers. She approved at least 204 wire transfers of funds from the company bank accounts to her personal American Express credit card. Also, Sachdeva issued more than 500 cashier’s checks from the company†™s accounts to pay for personal lavish expenses. On top of this, she informed other Koss employees to make fraudulent entries into the company’s books to conceal her theft. The theft was only caught after American Express notified Koss of unusally high volume of large transactions.Sachdeva used her illegally obtained money for a vacation home in Hawaii, a new Mercedes Benz, luxury travel, furs, designer shoes, art and jewelry. She had purchased some many items that she had two storage containers rented in Milwaukee. During the investigation, some luxury stores come forward stating that she had purchased items ans asked the store to hold the item for her until she came and picked it up. However, she never showed up. Sachdeva even had enough nerve to hold various fundraisers to flaunt her wealth in hopes of joining the socialate circle of Milwaukee.The Board of Trustees of Cardinal Stritch University was so impressed with her that she was offered a position to sit on their bo ard. To cover her theft, Sachdeva informed her friends that her husband, a pediatrician, made a couple million a year, and she made only half a million and they both came from wealthy Indian families. On Sachdeva’s sentencing day she made a statement of, â€Å"I stand before you today truly remorseful. You have been my family, my friends, and my co-workers for many years. I know you have been deeply hurt by my dishonesty in ways that I never intended. For eleven years she will sit in prison for her greed and envy. (Marquet, 2010) In every case examined, the US Code that has been violated is Chapter 31: Embezzlement and theft. Twenty-nine Sections of the Code have been created to cover every type of theft from public money, property or records to major theft of livestock. The state sentencing of embezzlement ranges anywhere from 45 months for felonies, six months for misdemeanors or 38 months of probation and including repayment of money and fines.The sentencing is determined by the monetary amount that is stolen. (US Code) The Federal Government oversees accusations of embezzlement for public agencies, banks, US courts, credit agencies and any program that received money from the Federal Government. Yet, Federal punishment is anywhere between two years to 30 years in prison. However, if the dollar amount of the embezzlement is less than $1000, then the sentence will be less than one year with a fine of only $1000. (Embezzlement Cases) People always are caught when it comes to greed and envy.The embezzler’s keep stealing thinking they are good enough to keep getting away with it, or maybe it is the lavish lifestyle that blinds them to the consequences. Why are the not happy with the large amount of salary that they receive as income from their careers? It is always more and more until they sit behind metal bars with nothing but a prison issued jumpsuit and a boyfriend named ‘Butch’. References Country. (n. d. ). Embezzlement Law. Law yers, Attorneys, Law Firms A– Find Legal Information. Retrieved April 20, 2012, from http://www. g. org/embezzlement. html Embezzlement Cases. (n. d. ). Defending your rights in the criminal justice system. Retrieved April 20, 2012, from http://www. defending. com/embezzlement-cases Marquet, C. (n. d. ). The Top 10 Embezzlement Cases in Modern US History. Marquet International. Retrieved April 20, 2012, from www. marquetinternational. com/pdf/top_10_embezzlement_cases_in_us_history. pdf US Code – Chapter 31: Embezzlement and theft. (n. d. ). US Code. Retrieved April 20, 2012, from http://codes. lp. findlaw. com/uscode/18/I/31

College athletes should not be exempt from normal class attendance Essay

College Athletes Should Not Be Exempt from Normal Class-Attendance Thesis Statement: College athletes should not be exempt from normal class-attendance because it is their responsibility to handle their work-load, in all aspects, just like everyone else. College’s main purpose and goal is to graduate and receive a degree. Everything else comes second. Student athletes who believe they should be exempt from normal class-attendance are ignorant and lazy individuals who do not deserve the privilege of playing intercollegiate sports. Are students who play especially physically demanding sports such as hockey, football, or soccer going to be more physically and mentally fatigued than that of a non-athlete? Maybe, maybe not! But they made the conscious decision to commit to a team and must learn to cope with the consequences and sacrifices that proceed which include: going to class, showing up on time, attending practices and games, and maybe even not having much of a social life. Conclusion: Representing your school’s colors by playing a sport in college is a great accomplishment that shows dedication and perseverance. It also improves your character and discipline that are both essential components throughout the rest of your life. That being said, college athletes must have a firm understanding of priority. They need to be able to comprehend the importance of their education over the importance of their athletic careers. An education should always come first and foremost, no exceptions. Collegiate sports tend to be placed on a pedestal, especially for those athletes fortunate enough to receive scholarships for their abilities even though playing a sport in college is nothing more than a glorified, recreational activity. One must always remember that having a solid education is something that will stay with you for the rest of your life, while playing a sport will only last just a few years after college if you are lucky. Sources Riddles, Libby. â€Å"Class vs. Competition.† Libb’ys Final Portfolio. Weebly. Web. 23 Sep2013.http://libbyriddles.weebly.com/argument-essay-1.html. Wallace, Stephanie. â€Å"College Athletes Should Not be Exempt from Regular-Class Attendance .†Prezi. Prezi Inc., 04 Jan 2013. Web. 23 Sep 2013.. â€Å"Why College Athletes Should Be Made to Attend Class.† StudyMode.com. 04 2012, 2012. 2012 .

CanGo Corporation Essay

CanGo does not seem to have any legitimate process flow charts, especially for its operations facility. Two floor plan layouts were drawn up. One for the current operation processes and one which shows the operation facility if CanGo invests and implements an ASRS (automated storage and retrieval systems). These two floor plans were referred to as flow charts. Flow charts consist of shapes and connectors which are labeled stating the flow of the processes, the decisions that can be made at specific stages, and outcomes of those decisions. Accompanying a flow chart would be the floor plan and written documentation outlining and explaining the entire process. Recommendation Classes Consulting recommends that CanGo draws up an actual flow chart, as well as the floor plans and written documentation explaining the processes in their operations facility. In addition, costs, financial effects (both current and future), and other details should be included for both the current operations system and the proposed ASRS and barcoding system. Having all of this documentation will show where improvements can be made and where costs can be cut. It will show and explain in detail the actual processes used for receiving, picking, and shipping. A floor plan will not take into account the actual details such as how long it take to pick books, how crowded it is on the operations floor, nor how the employees feel about the possible change. If, after creating this documentation, CanGo decides to go ahead with the new barcode and ASRS the flowchart will help in the creation and setup of the new systems. In addition, if financing is needed to install the new systems, having this documentation will show the lenders that CanGo has thought it through and can give details.

Construction Safety Research Paper Example | Topics and Well Written Essays - 250 words - 1

Construction Safety - Research Paper Example The management may be prompted to continue with the construction under the prevailing conditions reason being that they are behind schedule, in order to avert the possibility of incurring losses. However, as the safety director, it would be essential to ensure that all regulations stipulated by OSHA are followed to the letter before any more progress on the construction can be made. This is due to the fact that the company would stand to lose a lot of revenue in the case of accidents occurring due to negligence. In such an occurrence, the company may be faced by numerous claims for compensation of victims or even risk the possibility of being denied the license to operate due to its poor profile in ensuring safety in the work place (Hinze, 2003). Once the scaffoldings are set to standard, it would be suggested that the company hires an extra work force to compensate for the lost time so as to finish the project on time. By so doing, the reputation of the company as well as its employ ee’s welfare would be protected, thereby ensuring that it stays in

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

Answer quistion - Essay Example An organization runs on the hardworking of the employees and if an employer cannot understand and study the needs and drive of a worker then the firm can result in utter failure. For example, My Dad was working as a marketing Executive of a well reputed organization and he was a very dedicated staff of the firm. He was performing averagely in his profession and his income was on commission basis. But he used to face problems when his sales were low which invariably resulted in lower income .He used to come up with serious problems in running the family and as a result demanded a basic salary from the company which was legible amount. The company refused for the same, even though dad was not the only one to come up with such a demand in the organisation.Ultimately his motivation to work reduced and he ended up resigning the job. Here we can see that, if employed needs and demands are not considered by an organization results can be devastating. Each employee is very crucial part of an organization, and their solely contribute to the success of an organization. The size of an organization is immaterial when it comes to the power of the employees. The case applies to both temporary and permanent employees of an organization.

Application of Nursing Theory to administrative practice arena Coursework

Application of Nursing Theory to administrative practice arena - Coursework Example According to Meleis (2007), self-care theory supports the establishment of contractual associations between nurses and patients. The establishment of effective communication between the nurse and the patient then promotes effective communication between the patient and the nurse. In this case, the nurse leaders can set effective communication with the nurses who then replicate the same to their patients. Notably, effective communication between the patient and the nurse is essential in the provision of high-quality patient care and patient satisfaction. McEwen and Weill (2014) views the interpersonal relations between patient and nurses as a primary element of nursing care in Orem’s theory of self-care. It is these nurse-patient interactions that are open, approving and stress on patient accountability that are associated with positive patient treatment outcomes. Additionally, Basavanthappa (2007) acknowledges that the self-care theory offers a patient-centered and individualized care that promotes confidence and encourages participation of the patients in the care design and buttresses the expectations of the patients and their discernments on quality of care, thus promoting patient satisfaction

Internship in the Bahrain Petroleum Company Essay

Internship in the Bahrain Petroleum Company - Essay Example Founded in 1929, Bahrain Petroleum Company (BAPCO) is a unique company that has undergone several transformations over the years that mark its existence (Bapco.net, 2015). Consequently, the private sector company boasts of being the pioneer oil discoverer in the Arabian Peninsula, with the exportation and refinement of this commodity beginning a decade after the inception of the company. Moreover, Bahrain Petroleum Company (BAPCO) is central in shaping the Bahraini wealth-generation pattern and in the development of the country’s work force. Â  Founded in 1929, Bahrain Petroleum Company (BAPCO) is a unique company that has undergone several transformations over the years that mark its existence (Bapco.net, 2015). Consequently, the private sector company boasts of being the pioneer oil discoverer in the Arabian Peninsula, with the exportation and refinement of this commodity beginning a decade after the inception of the company. Moreover, Bahrain Petroleum Company (BAPCO) is c entral in shaping the Bahraini wealth-generation pattern and in the development of the country’s work force. Â   Bahrain Petroleum Company (BAPCO) has a wide employee base that consists mainly of native citizens. Though it is wholly owned by the government of Bahrain, Bahrain Petroleum Company, (BAPCO) does not only indulge in the production of oil. The primary operation of the company is the exploration of petroleum, with the massive technological investments geared towards improving the production of petroleum. Â  

Assignment Example | Topics and Well Written Essays - 500 words - 125

Assignment Example Therefore, the participation of these different groups makes procurement a cross-disciplinary process. Public beheading means killing a supplier in public when they do not meet the supply requirements. Such an action invokes efficiency in supply, given that non-performance leads to death. Consequently, most suppliers at this time ensured that they fulfilled the requirement of the king by all means, which promoted operations in the kingdom. However, the lack of power in the hands of the suppliers led to their oppression, given that the market at times faces uncertainties that could affect supply. Following the establishment of the law of contract, an organization can choose to sue a supplier who does not abide by the contract terms of delivery. In other cases, an organization can work with multiple suppliers, to, maintain continuity of operations when one supplier fails. I believe in the power of negotiations. Interacting with suppliers can enhance this skill as relations can be built between the organization and the suppliers. Consequently, an organization can bargain for better prices, thus leading to low cost of purchasing. The low cost translates into low product prices, thus increasing the competitive edge of the organization. Alternatively, the organization can negotiate for suitable credit terms that allow it to operate normally in cases of reduced cash flow. Technical skills also play a major role in procurement. They ensure the purchase of technologically viable products. This leads to the proper integration of technology with the existing business structures, thus promoting the ability of the organization to develop innovative strategies that lead to success. Computer proficiency continues to rank as one of the most important skills in an organization. The use of computers leads to the standardization of various processes in the organization, thus enhancing uniformity. Computer applications also make work easier, and allow the organization to

What It Takes to Be a Volunteer Article Example | Topics and Well Written Essays - 500 words

What It Takes to Be a Volunteer - Article Example I thoroughly enjoyed the experience because it made me feel special as I was able to impart that special feel within the lives of the people themselves. I found out that by doing good, the conscience gains quite a great deal of satisfaction as it is something that makes me feel satisfied with who I am and what I want to give back to the society in more ways than one. The socio-economic development that took place in Haiti during this time was immense. I learned quite a few aspects related to the socio-economic development domains as these have been very dear to me now. I found out that I can grow my capacity building domains as these had the power to find new pathways and thus translate success into a language of its own in the most basic sense. More than anything else, I aspire to seek my own success through the steps that I undertook and which I plan on taking in the coming times as well, and not just remain limited to the Haiti experience in the sheerest sense. The socio-economic development in times of peace and security are therefore some of the more significant pointers that I will derive from the entire experience of being a volunteer in Haiti. It gave me immense satisfaction to know that I belonged amongst the people who could do something or the other for the people who were in distress and who required a hand at the end of the day, no matter how small the effort turned out to be (Kelloway, 2001). I am of the opinion that some possible ways of encouraging volunteerism are through finding pathways through which the related individuals are contacted so that they can give their best towards the societal domains. This will help them shape up in a better manner than they ought to be without the volunteering role coming to the fore.

Discussion - of hypothesis testing results (dissertation) Essay

Discussion - of hypothesis testing results (dissertation) - Essay Example In this model, logistics regression was applied to test the probabilities that young people consider price, effect of brand image, design, trendiness of fast fashion cloths, and effect of advertising on their decision to make a purchase. Categorical variables were considered to show how various variables affect the predictability of the decision to purchase of not within the population. Based on gender, age, and education the logistic regression provides a platform of identifying fit within the model. The application of the Chi Square in this analysis is to identify the relationship or association of two cross-tabulated variables within a population (Kocherlakota, 2010). The null hypothesis in this case is considered to show that an association exists between the cross-tabulated variables of the population. The alternative hypothesis using the chi square analysis is used to refute the null and reinstate the hypothesis (Kocherlakota, 2010). In this case, the chi square method is applied to test the association between young people’s decisions of making a purchase with price, effect of brand image, effect of advertising, design, and/or trendiness of fast fashion cloths as influencing factors. The log likelihood statistics method was used in this analysis to show the fit between coefficient estimates and data (Kocherlakota, 2010). Since data is fixed, coefficients influence the likelihood that certain outcomes will take place. In the current case, the method was applied to show how different parameters influence the likelihood of young individuals to purchasing fast fashion or not. The parameters include price, design, brand image, trendiness, and advert effects on the decisions made. H1: As it mention in the literature by Jackson (2001), price is a major determinant of the decision to buy fast fashion. In addition, a conflicting factor is also identified. The cost of fast fashion cloths does not matter to young buyers

Majority Opinion Case Study Example | Topics and Well Written Essays - 1500 words

Majority Opinion - Case Study Example Since there was no evidence to the effect that students were required to profess the religious views presented in the books, then the plaintiffs, in this case, had no good basis of claiming that the requirement to read from the books amounted to the violation of the constitutional rights of the students and their parents. The basis that would well serve to make the requirement unconstitutional is if the students were compelled to do something that is against their religious belief, such as profess the religious views presented by the books (Shelly, 1994). The students were not required by any means to affirm the religious views presented or even practice such views. There was an assumption on the sides of the plaintiff that having the religious vies which was in contrast to their own belief presented in the form of poetry or fiction, entitled the children to believe in them. To indicate lack of consistency in the arguments presented by the plaintiff, one of them, Mrs. Frost held that it was all right to have their children taught other religions and philosophies, as long as such teachings did not undermine her religious beliefs, or the children had to be instructed on the error of the other religion (Fish, 1999). This serves to show that the plaintiffs believed their religion was the only one acceptable and thus, could be taught without the indication of its errors, while the other religions and philosophies had to underline this fact. This is an erroneous view of the intentions of the education system, in that it seeks to create wider knowledge, and thus cannot be limited to one religion. Another major aspect that offers support for the majority opinion by chief judge Lively is the fact that there appears an observed tendency of the plaintiff to interpret virtually everything theologically (Suber, 1987). Mrs. Frost holds that everything has to be interpreted in the Biblical perspective, arguing that there is no possible way, in which issues such as evolution a nd telepathy could be taught, without violating her religious beliefs.  

The Jew Store Essay Example for Free

The Jew Store Essay The Jew Store is a story written by a lady whose family moved to America from Russia in the early 1900s. The first moved to New York and then found their way down to the South. They finally ended up in Nashville as their first permanent residence. They would not last there very long though, as they ended up taking a chance moving to the northwest part of Tennessee in a city called Concordia. The family was of the Jewish decent. They first moved to New York because it was so heavily concentrated with Jews. At this time and period in America, I think Jews were looked down on heavily; maybe not as much as the African Americans, but definitely in that way. They were treated this way because they were not ‘Protestants’ or Gentiles. Especially when they moved down south, everyone knew that the new family coming through would be called the Jewish or the Jew family; it’s just how it was. The Bronson’s came to Nashville mainly to pursue their father’s dreams of becoming a businessman or store owner. But after arriving in Nashville, the Bronson’s were facing the realization that they would never have an opportunity to own a store in Nashville. And I would like to point out, in order to run these stores; the whole family must be involved. So, Mr. Bronson took a risk he had to take if he wanted to reach his dreams, and the family set out for Concordia, Tennessee. The first thing Mr. Bronson did when he got to Concordia was change his name to an American one. He changed his name to Avram(? ) to Aaron. He thought this would be a good idea because it would make him more acceptable within the community. Aaron was led a little bit into the adrift in my opinion. I think when he left Nashville, he thought he had an automatic store that was going to be given to him, but yet when he got there, he didn’t even have a place to call his own. When they first arrived in town, they had to stay at Miss Brookie’s house, and she was nice enough to let them stay free of pay. Miss Brookie might have been one of the only early people to step up and help out the Bronsons. Miss Brookie also had connections within the town. Her uncle, Tom Dillon, was a wealthy man who rented out stores or something of that nature. This was Mr. Bronson’s first contact within the city that could help him acquire a place for a store. Dillon wasn’t necessarily the most welcoming to Mr. Bronson. He knew that coming in, Bronson could give him problems and take customers away from him, so in the beginning; Mr. Bronson was already fighting an uphill battle. The Bronson’s finally came up with enough to buy a house of their own after staying with Miss Brookie for a while. When they made this move, the neighbors were very welcoming. They would participate in activities together such as gardening and painting. As partial as the community was to the Bronson’s when they first came into town, as time went along they became more accepted. People in the community were allowed to associate with them without being looked down upon. With that being said, there was still a bridge and gap between the Bronson’s and the community. People knew they were Jewish and were not Protestants, so this created a gap between them, especially on Sunday’s. Miriam, Stella’s(the author) older sister, always complained about how boring Sunday’s were. The Bronson’s were pretty much on their own on these days because the rest of the community spent their time at the church. When the Bronson’s first came into town, they knew they would have to compete with other stores for customers. With that being said, they decided to target an audience they knew would side with them. At this time, blacks and Jews were oft looked down upon, so Mr. Bronson thought that if he could attract the African American demographic that his business could thrive. So, this was definitely a way to separate themselves from the Protestants of this time. Many of the religious people only associated with blacks if they had one as a maid or something. The Bronson’s did not homeschool their kids or anything of that nature, so this exposed them to the Protestants in Concordia. I think it was important for them to send their kids to school in public, because this is where they got some of their customers. Their kids’ friends’ parents ended up coming to their store. Even though at first the Bronson’s faced an uphill battle at the beginning, by the time they were about to leave Concordia, they were well accepted throughout the community. Mr. Bronson helped out this community more than it could have ever imagined. Before they left, Mr. Bronson was the lead guy in heading up the fundraiser to help keep the local shoe factory open. He agreed to match anybody’s money offer penny for penny. And just a reminder, this was a guy who was looked down upon after he moved into this city. I think this helped started bridging the gap between Jews and Protestants. This family was a nice family that worked that just wanted to succeed. And they were willing to do a lot of things to do that. I am going to go out on a limb and say that if a Protestant family had entered a community with these types of circumstances they might never have prevailed. So, by giving this generous gift of money to the town, I think the Protestants realized that maybe these people were ‘Jewish,’ but that they just wanted well for everyone. An incident involving Miriam occurred around the time she was five years old. She might have been in the school systems, but I know she was with people of her age. They were at a Presbyterian church and the leader asked her where she went to church. She ended up trying to pronounce Presbyterian properly, but the point is she had no idea what they were asking. I think this community was very insecure about this Jewish family coming to their town. They did not know how to react to them. I don’t know if they thought they may or may not try to come in and convert them, but I do know one lady from the town said â€Å"Once a Jew, always a Jew. † To me this means they(the community) were trying to set an example that no matter what they did, they would not fully be a member of the community since they weren’t Protestants. The Bronson’s put up a good fight, but I still think people looked down on them just because they were Jewish. There was also another time when Myriam or Stella went to church with one of her friends. It was to a Methodist institution to witness the baptism of a newborn baby. I do not think Mrs. Bronson was aware that Stella was going to an actual church service. She told Stella to only go to Sunday school. This was sort of confusing to me, because I figured Mrs. Bronson would be all out one way or the other. But by letting one of her daughters go to church, it could have exposed her. The final straw for Mrs. Bronson in Concordia was Myriam about marrying a Gentile. One of the first friends they met when they moved to Concordia was T, who also had a brother. But as Myriam was becoming more and more serious with T, Mrs. Bronson started sweating more and more. She did not want her daughter to marry a non-Jew. With the threat of this rising, she immediately recommended the Bronson’s move back to New York so Myriam would not be able to marry a non-Jew. And that they did, the Bronson’s packed up and left. Their time in Tennessee was well made and they made a lot of progressions, but in the end their religion made them move back. The fear of one of Mrs. Bronson’s daughters marrying out of religion was too much for her. So, this was the biggest step they took to separate themselves from Protestantism. I think the Bronson’s had it the toughest of all out of the three books I read. In the other two books, Muslims in America and The Madonna of 115th Street, these people came over together as a mass and usually lived in communities together. These were tight knit communities that bonded together and wanted to see one another succeed. The Bronson’s on the other hand, went into a new community by themselves and came out a pretty successful and well respected family. They had nobody to lean with the exception of very few people such as Miss Brookie. The Muslims and Catholics on the other hand had a whole community to fall back on. They also faced adversity of a whole city, but I would take that route any day of the week. Also, what I have perceived from reading these three books. Americans like doing it their way. They don’t like having other people come in and do things contradictory to them. Americans like surrounding themselves with people who agree with them and like them. That is their comfort zone, and I think at a time like now in America, tensions are higher than ever because of all the surrounding circumstances that go against what we believe in.

Londons urban transport from the Victorian era

Londons urban transport from the Victorian era Over the past 200 years the geography of London has changed dramatically. No better has this change been reflected than in Londons urban transport systems. The Victorian era saw mass migration to the capital as industrial progress both at home and abroad, and by 1800 London was the grandest city in the West and probably the world, with almost a million inhabitants. By 1881 the population has soared to 4.5 million and by 1911 to over 7 million [Porter 1994, pp 220]. To deal with these patterns of population growth London has seen large changes within its urban transport systems, on both land and water, and some have even attributed the growth of London itself to increased migration promoted by changes to public transport [Roberts, 1996 pp 322]. London is a scattered city, its past not attributed to coherent Government led development (as with other global cities such as New York or Paris). Instead, the most significant technical development which affected the size and functioning of London was the development of mass public transport, which was dictated not only by technological advances, but also the ways in which firms invested in the new forms of conveyance and competed with each other and alternative forms of travel [Ball and Sunderland 2001, pp 227]. When looking at urban transport, it is important to consider that, during the 19th Century the most common form of travel remained on foot. A traffic survey of the city in 1854 showed that almost 70 per cent of people travelling in and out of the City daily were doing so on foot. Even as late as 1897, when extensive public transport systems had been developed, less than a quarter of South London trade unionists were regular users of these systems as prices remained fairly high for other forms of commuter transport [Ball and Sunderland, 2001, pp 228]. In a scattered and geographically condensed city (in 1825 the built up area of London still only stretched for four miles north to south and six miles east to west) it remained the best way to get quickly and efficiently from a to b. As today, traffic congestion was a problem for London during the Victorian era, and walking was often the most rapid form of travel. Pedestrian travel was also aided by new technologies that improved road safety for those travelling on foot. Road conditions began to show improvements (with drainage improved), street lighting was introduced through the 1830s, and the extension of the police force made travelling alone safer. The development of Londons road systems throughout the century also reduced journey times [Ball and Sunderland, 2001, pp 229]. Changes in Water Transport: At the start of the Victorian era, the River Thames provided a faster and often more desirable way to travel across the city with Watermen offering to taxi people in small rowing boats known as wherries. The development of paddle steamers would displace these wherries, and by 1850 they were carrying several million passengers a year. These steamboats began offering services down the River Thames in 1815, unburdened by mileage duty and able to carry hundreds of passengers at a time in 1830 a regular service operated between London and Gravesend, Woolwich and Richmond [Ball and Sunderland 2001, pp 234]. Despite this, they remained unable to operate in bad light or weather, difficult and dangerous to board and leave and were involved in regular collisions. Water transport thrived during this time, dependent on the influence of the powerful river-using industries, which had restricted river bridges. During the early part of the 19th Century, however, their influence began to decrease, and new bridge crossings were. Vauxhall (1816), Waterloo (1817), Southwark (1819) and London (1824-31) all reduced the need for river transport on a commuter level, and also stimulated further road constru ctions south of the river through the latter half of the century [Ball and Sunderland, 2001, pp 229]. By 1890, the development of the road and railway networks had all but decimated the steamboat trade. The Horse and Carriage The Horse and Carriage as a means of transport was indelible throughout the Victorian era, and despite growing congestion throughout the 19th Century (along with the escalating costs of keeping and feeding horses in London) there were still 23,000 private carriages travelling through the city in 1891 [Ball and Sunderland, 2001, pp 229]. Road network developments and improvements were implemented throughout the Victorian era, all of which had to take into account the very particular needs of horse and carriage transport. The avoidance of steep gradients and limitations in the manoeuvrability of the carriages may have contributed to the levels of congestion seen throughout London throughout the Victorian era, and perhaps even up to today (with the maintenance of many of the road networks from the past century). This reliance on forms of horse drawn transport, not only encouraged walking in the lower classes (who couldnt afford the maintenance of a horse and carriage), but was also perhaps responsible for maintaining the compactness of London and restraining the outward movement of industry. Though gradually replaced by other means of public transport up to the First World War, the horse and carriage has remained the dominant means of road transport for a very long time. The upper classes had their own carriages, hackney carriages The rich had their own carriages, hackneys were available, and hansom cabs were introduced in 1834. Some got to work by short-stage coaches (four or six passengers inside and a handful outside). Horse and Carriage also remained the main form of transport in the movement of good around London (on the eve of the First World War most of Londons good vechicles were still horse drawn) [Ball and Sunderland, 2001, pp 229]. The Omnibus and Commuter Transport One thing that has defined patterns of social change within a transport context in London over the past two centuries has been the establishment and growth of the commuter and associated public transport. The very term commuter came into being during the 1850s as more and more people were able to travel to work from greater distances, and the average Londoners journeys on public transport increased from 20 in the late 1860s to almost 140 in 1902 [Ball and Sunderland 2001, pp 230]. In the early 18th Century, short-distance stagecoaches, known as short-stagers appeared throughout Londons streets. These coaches carried four to six passengers inside and up to seven outside on the roof, and were used to provide regular services from the centre of London to the outskirts. This means of transport was introduced to serve the better-off when they moved out to the then desirable suburbs. By 1825, stagers had become commonplace, with probably around 600 such vehicles making around 1,800 journey s a day [Ball and Sunderland 2001, pp 233]. These most popular of these coaches was the Hackney Carriage, which had a monopoly on the central areas of London up to 1832. Another idea developing at the time was the idea of the omnibus, which many believe single handed began the commuter revolution. The service was first established in July 1829 by George Shillibeer, running from the Stingo public house, Paddington, to the Bank, along to the New Road. Shillibeers omnibuses were long three-horse vehicles with benches for twenty passengers [Porter 1994, pp 237]. The idea was to increase the numbers of passengers that were able to travel by stage-coach, thus lowering the fares for the daily commuter. Because of the Hackney carriage monopoly of the central areas of London, however, the venture failed by 1831. This stimulated the Stage Carriages Act of 1832 which allowed the omnibuses and all other types of vehicle into the central areas, freely plying the streets for trade. The Stage Carriages Act also stimulated the advent of the omnibus back into the world of commuter travel as they could now access the central areas. The cheaper fares (they were nearly half the price of the Hackney Carriages) and their increased speed made them more convenient for the middle class commuter. There were also considerable negative impacts associated with the development of Londons public transport during this period. A paradox quickly arose as thousands of extra vehicles took to the streets improving public transport, whilst simultaneously exacerbating congestion issues in the city. It should also be noted that despite this rise in use of these services, the fares of public transport remained fairly high and prohibitive for most working-class people until the introduction of subsidised services towards the end of the century [Ball and Sunderland, 2001, pp 228]. As a result of this, combined with the service hours (they generally ran from eight in the morning when the majority of the working class workers were in work), the service remained, like the stagers before them, a largely middle class service. They proved effective, however, in permitting suburban living among tradesmen and clerks, and gave the inner suburbs a crucial boost during the 1830s and 1840s [Porter 1994, pp 240]. The success of the omnibus continued and was encouraged by low taxation (taxes on public transport were cut by up to a half in 1839) and competition and 1851, the year of the great exhibition, omnibuses carried around 20,000 passengers daily [Ball and Sunderland 2001, pp 236]. The closure of this however brought rapid growth to an end and fares plummeted as many firms went bankrupt. One success story however was the London General Omnibus Company, which, by 1900 owned nearly half of the 3,000 horse-drawn buses and trams, carrying some 500 million passengers a year [Porter 1994, pp 240] stimulated by rising incomes and a suburban migration during the late 1800s. The loss of monopoly during the 1832 Act had also led to a doubling of the number of hackneys and investment in new equipment and innovations, with the hansom cab eventually becoming the norm [Ball and Sunderland 2001, pp 234]. Eventually competition from other means of transport put an end to the days of horse drawn public tr ansport with the last known service in 1914. Railways The great material transformations of the 1800s, combined with the physical and social geographies of the city led to a major transformation in the railways of London. From the 1830s the cuttings ploughed into the northern suburban areas on their routes into Euston, then Kings Cross and St Pancreas [Porter 1994, pp 230]. These developments reinforced east/west social divides, devastating some areas while bettering others, however Londons traffic problems were becoming ominous, as a result of the vast increase of traffic and the absence of any policy. For these reasons, the coming of rail transport, overground and underground was critical in keeping the metropolis moving and in permitting the city to expand. But if the railways brought benefits these were purchased at a high cost. The downwards shift of some of these neighbourhoods is mainly attributable to later railway building that destroyed many inner-urban neighbourhood environments and made it possible for their more prosperous residents to move further out [Ball and Sunderland 2001, pp 233]. Underground Road Improvements In 1800 Londons road infrastructure was generally main thoroughfares running from east to west above the River Thames. These were often narrow, poorly maintained and blocked by street markets and other local activity, and little inner city road improvement was undertaken before the Commercial Road development in 1810 which sped transport to the dockland areas [Porter, 1994, pp 235], which seemed to stimulate a spurt of road networks. Major developments in the central area included Regent Street (1817-23) and Moorgate, cutting north-south thoroughfares through the traditional east- west pattern, and the major trunk routes constructed to the north of the built-up area including New North Road (1812), Archway Road (1813), Caledonian Road (1826) and Finchley Road (1826-35) [Ball and Sunderland, 2001, pp 231]. There were also a number of new river crossings introduced during this period including Vauxhall (1816), Waterloo (1817), Southwark (1819) and London (1824-31). This period also saw road conditions beginning to be improved via increased expenditure on widening, paving and drainage, and on new routes [Ball and Sunderland, 2001, pp 240]. Cycling Cars and Buses As previously discussed, the horse and carriage remained the dominant form of road transport throughout the Victorian era. Despite the many drawbacks of motorised transport, it has been rightly quipped that the invention of the motor car saved large cities in the nick of time from being engulfed in mountains of horse dung [Ball and Sunderland, 2001 pp 229]. Hackney motor cabs were first introduced in 1903 and proved immensely popular, particularly after the 1907 introduction of the taximeter. Ball pp 233. The growth of the bus use amongst the middle classes preceded the major change in motive power, from the horse to the petrol engine and the emergence of underground and electrified tram services and it was the petrol-driven motor buses that were to revolutionise public transport from their first introduction in 1899. The first bus service was operated by Motor Traction Co, who, for a short while ran two double-deckers between Kensington and Victoria. Cumberson, uncomfortable and generally unreliable they were initially unsuccessful. However, their advantages quickly became apparent they had greater carrying capacity than their horse-driven counterparts and travelled at somewhat higher speeds (though these were restricted by legislation), enabling routes to be longer. Running costs were lower and less variable and their success encouraged further investment in 1905 with the establishment of the London Motor Omnibus Company and Vanguard [Ball and Sunderland 2001, pp 239]. In the 1900s competition grew (from 1906 to 1907 the number of buses nearly quadrupled from 242 to 808) and many services saw a period of consolidation as congestion grew. New regulations lead to the development of the B-type bus in 1910 and by 1914 the public had taken the new motorised bus to heart with 757 million passengers. Today cities are designed on the premise of the car, on an autologic which underlines policy and planning in large parts of the world [Brudett, 2008]. Overview of Victorian Era: After centuries that had brought little alteration in ways of getting about, the Victorians created a transport revolution that changed not just the face of the town but the status map of the metropolis [Porter 1994, pp 235].

Empowerment Children And Young People

Empowerment Children And Young People Introduction The subject of globalisation has always aroused a significant level of interest across all disciplines and it was highly interesting to explore the impact that globalisation has had on marketing strategies. As a group, we began the research process after identifying how globalisation has been manifested in the world and various factors in marketing strategies that have changed since the onset of globalisation. It was important to assess the popularity of the topic and whether it had been extensively researched in the past in order to determine whether it was a good project choice. The group identified that the study of the impact of globalisation on marketing strategies still required to be further explored because other researchers had not examined the issue exhaustively. Having collected different findings that other researchers had discovered about the project, we were able to set a background for the study through analysing studies with the most relevant information regarding the topic under study. We needed to do a significant level of reading and therefore consulted a number of publications including journals, books and web resources. Scanning was highly effective in coming up with the most reliable written information for the literature review. This reflection essay represents the groups recollection of experiences, lessons, feelings, fears and other group dynamics experienced during the completion of the project. The reflection is highly useful for people who intend to perform future projects as it gives an insight of how the procedure is likely to be. Furthermore, the reflection offers an insight into the research process and effectively describes the structure of the report and how various decisions regarding the choice of material and ideas were made. The report further establishes challenges that the group faced along the way; a factor that would help groups in defining ways of dealing with such challenges so as to ensure positive outcome. Reflection on experiences The completion of this project was a great learning experience in terms of the process of conducting research and in learning various group dynamics that are highly important in enhancing effective outcomes. The most involving experience for the group was in the selection of the most ideal topic to be used for the study and eventually obtaining the relevant material to complete the research. It was interesting to note that there existed numerous lucrative subjects under which we could conduct the intended research. The need for a unique research however finally led use to the selected topic on the impact of globalisation on marketing strategies which was followed by the selection of the various resources to be used in the completion of the study. While there were an abundant number of resources for use, it was imperative for the group to collect the most recent researches because the subject of globalisation is developing at a tremendous rate hence the need to be well informed on rec ent trends during the conduction of such a research. The research was conducted in a highly systematic manner because the group intended to ensure that the most viable results were obtained in explaining the impact of globalisation on marketing strategies. To begin with, the group had to effectively familiarise itself with the topic of study so as to effectively identify the key aspects that needed to be explored. As noted by McDaniel (1991, p, 28), definition of the problem marks a significant stage in research because it forms the basis for successful completion of the research and eventual ability to respond effectively to the research question. It was therefore imperative for the group to recognize and define the problem effectively. The research question that this study intended to answer was How has globalisation impacted on marketing strategies? As a group, we had to familiarise ourselves with the subject of globalisation and how this has impacted on marketing strategies. We had to analyse the various trends in marketing strateg ies that had developed following the onset of globalisation in order to determine the most recent trends which would fit perfectly into the study. In order to achieve this, there was need to consult various books, journals and web articles. It was only when we were clear on the subject of globalisation that we embarked on our research which required the identification of how globalisation had impacted on marketing strategies The second step after identification of the research question was the determination of the research design to be applied in conducting the research. This denoted the need for the identification of the methodology that the group would use in obtaining the relevant information for the research so as to ensure that the outcome of the research was as intended. Accordingly, the group decided to make use of secondary data which not only provided adequate information regarding the topic but which also provided a fast and cheap method of data collection. The information would be obtained from books, journals and web articles identified from various libraries. The third stage in the research process was the actual collection of information about globalisation and its impact on marketing strategies. The undertaking that the group took during this stage was to list down various globalisation trends that had been recorded in the recent past and thereby form the basis for the study. This was followed by selection of the best topics to pursue in explaining the different changes witnessed in marketing strategies. It was during this stage that we finalised the main topics to be covered in the study and the sources of data were conclusively identified. We then proceeded to collect and record the researched information in order to establish how globalisation had impacted on marketing strategies among companies around the world. It was notable that globalisation had indeed transformed the business world and that firms were not only expected to focus on their regions of operation but also seek to compete globally. This is because competitors could be from anywhere in the world, given the increased freedom of trade which allowed companies to export their products from one country to the other. The need for aggressive marketing was therefore apparent with the rise of globalisation; hence the reason why marketing strategies were evolving at a significantly high rate. Through the available books, journals and web articles, the group was in a position to identify the various trends in globalisation and hence interconnect them to the rapidly developing marketing strategies aimed at achieving the best results for the research. The next step was to embark on the analysis of data in order to determine the best and most relevant information to be included in the final research paper. This involved the consolidation of information that consisted of identical or close view in order to ensure that the most relevant information was incorporated into the final paper. The groups intention was to ensure desired response towards the research question was achieved and that the paper eventually established the changing trend in marketing strategies following continued advancement in globalisation. There was therefore a significant need to exercise a high level of caution in the analysis of data because this to a large extent determined the final outcome of the study. Furthermore, it dictated the direction that the study would take and the eventual accomplishment of the desired outcome. The final stage in the research process was the presentation of our findings in the form of a research paper. This was the paper that readers could use to obtain comprehensive information on the subject of study that our group had selected. Accordingly, the stage involved ensuring logical presentation of ideas in the paper so as to ensure that they were coherent enough for potential users to understand. According to Southwick (2004, p. 18), it is imperative to ensure that the results of the study are presented highly specific manner in order to ensure that the readers are able to understand the findings effortlessly. This marked the climax of the group work and it was encouraging to not how far we had come and the fact that we had finally achieved what we had been longing for. Having finalized this, we now had a full report on the identified topic and were ready to present the research paper for this course module.   The achievement of the above objectives consisted of many experiences and lessons for the group; with new aspects in the research process emerging every day. Decision making was not as easy as individual decision making because there was need to consult and consequently establish the best option depending on the views of the group. In this regard, sometimes it would seem as though simple procedures were taking too long to complete, yet there was need to consult and brainstorm in order to come up with the best solutions to enhance the success of the research process. A significant level of concern was on the space to be dedicated to various subtopics and which of them carried more weight as far as the issue of globalisation was concerned. We eventually agreed that giving equal number word count for each subtopic would only lead to irrelevant information regarding certain topics which did not carry so much weight in the research. It was therefore decided that the number of words in eac h section would depend on the amount of information that was available and the unique features that needed to be brought to attention in the study. Besides the identification of the main topics to be covered in the study, the literature review formed an interesting part of the paper and essentially consumed a significant amount of time during the research process. This is because various aspects within the literature review led to the discovery of many other globalisation aspects and it was almost impossible to determine which details to include in the report and which ones to leave out. Accordingly, literature review took a significant amount of time to eventually finalise as the group members sought to determine the most important aspects to be introduced into the paper. It can be established that the expansive literature review played a significant role in coming up with the most relevant topics as far as the impact of globalisation and market strategies are concerned. Personal sentiments and learning experiences Personally, there was a great deal of learning facilitated by the requirements of the research paper and group participation in the completion of this research. It is my belief that the research will be of great importance to future studies. This is because a significant number of issues are identified and these portray the rapidly changing business environment where globalisation has impacted on business processes to a significant level. At a certain point during the research however, I doubted whether all the aspects of marketing strategies identified could be presented in the paper without making it sound too general. I was however convinced that each of the factors had to be discussed because it played an imperative role in the changes being witnessed in the business world. The manner in which various sections in the paper were handled gave the impression that some received greater attention than others. Furthermore, there was relevant information on each of the identified factors. It was however notable that recent trends deserved more attention in the paper because they were likely to catch more attention from readers. This is because they were already familiar with the older factors and they would be more interested in gaining knowledge that was fresh and intriguing. Accordingly, giving such topics more attention increased the value of the paper and its significance to the business and academic worlds. There are other challenges that emerged during the research process and it was apparent that my views differed significantly from those of my colleagues. In order to cope with this, I learned how to listen and to always consult because this was the only way of ensuring effective communication and enhancing a desirable outcome. Learning experiences from group dynamics Group dynamics are highly essential in enhancing the success of the group. This is because group members can utilise the various strengths that they possess in improving the group while complimenting the weaknesses within the group. Group members can contribute their skills and knowledge in enhancing the achievement of the groups objectives. During the research, it was interesting to cooperate with group members, share responsibilities and assist each other in areas that we found difficult. This was especially useful during the initial stages of the research whereby the contribution of members towards the selection of relevant topics to pursue was highly relevant. Most importantly, the collection of data was very easy because we effectively divided responsibilities among ourselves and then came back together to compile the report. Group work could however jeopardise the achievement of the research objectives if the members are not willing to cooperate and own up to others from time to time. It is important to note that ones view cannot be considered every time and that there are instances when other members views are considered more lucrative. The ability to accept such realities through owning up during brainstorming is therefore very important in enhancing group work. Further, each group member should be able to cooperate with other group members so as to ensure that the common goal in the group is achieved. This to a significant level determines the eventual outcome of the research because the input of group members matter significantly. Group work helped use to realise our strengths and weaknesses and thus played an imperative role in the eventual outcome of the study. Lessons and future implications The subject of globalisation is highly dynamic and the secret towards obtaining the most relevant information lies in the ability to obtain the most recent literature on globalisation. This necessitates wide reading and research in order to determine the most relevant trends to include in a globalisation study. In this research for example, it was important to note the significant growth in new world powers, changing customer preferences and the popularity of internet marketing among other factors in the contemporary business world. Ability to keep up with the trends plays a significant role in enhancing the development of a comprehensive study. The second lesson was in the essence of group work in the achievement of common objectives. Notably, there is need to exercise a high level of interdependence and to ensure fair participation of all group members. I learned that through consulting with others, it is so much easier to determine the most relevant information to use because it provides an opportunity to weigh the various views presented by group members. It is important to anticipate challenges as opposed to having a limited view on the research process. This is because as people start working on the project, the process may initially seem easy because it is just a matter of answering the research question. However, challenges tend to emerge along the way and the group members must be in a position to deal with such challenges in order to eventually achieve the set objectives. Examples of challenges that groups will encounter include conflicting time schedules that limit meetings and limited cooperation from members at certain points during the research process that could highly impact on the outcome. Inability to agree on common objectives and self-justification could also ruin the groups ability to achieve the set objectives. We identified a self-damaging aspect known as procrastination which needs to be avoided as much as possible in order to promote efficiency. Procrastination refers to constant postponing of issues due to the impression that there is still time to complete the work in time. This however works to ones disadvantage because it leads to rushing at the last minute when the paper should have been completed as early as possible. It should thus be avoided in order to ensure that the assignment is completed in time and thus offer more time for revision and correction of the final research paper. Conclusion A high level of satisfaction was derived from the completion of this research and the experience gained was very valuable to the group. It was interesting to acquire various skills and knowledge in conducting research and to explore the impact of globalisation on marketing strategies. Like any other research process, there are a significant number of lessons to be learned from group dynamics and the need to effectively focus on the study. The completion of the research culminates in a comprehensive report covering the growing trends in globalisation in relation to marketing strategies. It is established that a significant number of changes have been recorded and that marketing strategies are significantly different from the way they used to be before the onset of globalisation. Developing trends are identified and it can be established that globalisation has played the role of creating a borderless world which makes marketing strategies more effective in delivering the intended messages globally. The overall experience in writing the paper therefore helped the group in obtaining valuable information on the identified topic. Completing the research paper successfully however was not without its challenges. There was a lot to learn especially in the need to work together as a team and to use the skills possessed by each group member for the benefit of the group. The need for objective reasoning was clearly demonstrated as various decisions had to be made at various stages of writing the paper. Examples include the identification of the best approach to take for the paper, the need to avoid ambiguous observations and generalisations and the need to remain focused in order to come up with a conclusive research. The process seemed complicated and completion of the paper was faced by various challenges that the group had to endure as a means of enhancing successful completion of the paper. How the group eventually managed to complete the entire project however seems to be the greatest achievement because it symbolises great strength and ability to work through challenges to come up with a highly useful piece of research.

Edwin Muirs Poem The Horses Essay -- Horses Edwin Muir Essays

Edwin Muir's Poem "The Horses" "The Horses" is a poem by Edwin Muir. It tells the story of a world ravaged by nuclear war, where the few survivors live hopelessly in a desolate reality. Their outlook is changed by the arrival of the horses, a relic of the past which lets them rediscover humanity's bond with nature. "The Horses", as well as being a very beautiful and moving poem, has an important message to convey. The poet uses various methods to illustrate this. Throughout the poem, there are many biblical references. The nuclear war is described as a "seven days war", which is an allusion to Genesis, the creation and destruction of the world in seven days. This idea is furthered by the use of the phrases "our fathers' land" and "our fathers' time". The word 'covenant' has connotations of the 'Arc of Covenant', the Israelites sacred vow to God. And later in the poem, the horses are described as appearing from their own 'Eden', another biblical reference. This illustrates the importance of the poem's subject matter, by introducing a parallel to the Bible. It bears a resemblance to when God flooded the world, to wipe out all sin and allow the few on Noah's Ark to rebuild a new, better world. This poem also shows the totality of nuclear war. Although there are survivors, the ammount of death and destruction is immense. It takes so little time to destroy the world, in a way a punishment for mankind's vanity and arrogance. Technology, for so long thought to be a d...

Spiritual Shallowness in The Great Gatsby :: Great Gatsby Essays

Spiritual Shallowness in The Great Gatsby The American Dream was based on the assumption that each person, no matter what his origins, could succeed in life on the sole basis of his or her own skill and effort. The dream was embodied in the ideal of the self-made man. The Great Gatsby is a novel about what happened to the American dream in the 1920s, a period when the old values that gave substance to the dream had been corrupted by the vulgar pursuit of wealth. Spiritual shallowness is portrayed in The Great Gatsby through the characters' pursuit of power and pleasure, the character groupings and images and the forgotten past. The characters of The Great Gatsby are Midwesterners who have come east in pursuit of this new dream of money, fame, success, glamour, and excitement. Tom and Daisy must have a huge house, a stable of polo ponies, and friends in Europe. Gatsby must have his enormous mansion before he can feel confident enough to try to win Daisy. The energy that might have gone into the pursuit of noble goals has been channeled into the pursuit of power and pleasure, and a very showy, but fundamentally empty form of success. Fitzgerald employs clearly defined character groupings and various images and symbols in developing the theme. Character groups include Nick, the observer and commentator, who sees what has gone wrong, Gatsby, who lives the dream purely, and Tom, Daisy, and Jordan, the "foul dust" who are the prime examples of the corruption of the dream. The primary images and symbols used are, the green light, the eyes of Dr. T. J. Eckleburg, the image of the East and Midwest, Owl Eyes, Dan Cody's yacht; and religious terms such as grail and incarnation. Both the character groupings and the images and symbols suggest a second major theme that may be referred to as "sight and insight." The novel contains many images of blindness, perhaps because hardly anyone seems to "see" what is really going on. The characters have little self-knowledge and even less knowledge of each other. Especially Gatsby- he lacks the insight to understand what is happening. He never truly sees either Daisy or himself, so blinded is he by his dream. The only characters who see, in the sense of "understand," are Nick and Owl Eyes. Spiritual Shallowness in The Great Gatsby :: Great Gatsby Essays Spiritual Shallowness in The Great Gatsby The American Dream was based on the assumption that each person, no matter what his origins, could succeed in life on the sole basis of his or her own skill and effort. The dream was embodied in the ideal of the self-made man. The Great Gatsby is a novel about what happened to the American dream in the 1920s, a period when the old values that gave substance to the dream had been corrupted by the vulgar pursuit of wealth. Spiritual shallowness is portrayed in The Great Gatsby through the characters' pursuit of power and pleasure, the character groupings and images and the forgotten past. The characters of The Great Gatsby are Midwesterners who have come east in pursuit of this new dream of money, fame, success, glamour, and excitement. Tom and Daisy must have a huge house, a stable of polo ponies, and friends in Europe. Gatsby must have his enormous mansion before he can feel confident enough to try to win Daisy. The energy that might have gone into the pursuit of noble goals has been channeled into the pursuit of power and pleasure, and a very showy, but fundamentally empty form of success. Fitzgerald employs clearly defined character groupings and various images and symbols in developing the theme. Character groups include Nick, the observer and commentator, who sees what has gone wrong, Gatsby, who lives the dream purely, and Tom, Daisy, and Jordan, the "foul dust" who are the prime examples of the corruption of the dream. The primary images and symbols used are, the green light, the eyes of Dr. T. J. Eckleburg, the image of the East and Midwest, Owl Eyes, Dan Cody's yacht; and religious terms such as grail and incarnation. Both the character groupings and the images and symbols suggest a second major theme that may be referred to as "sight and insight." The novel contains many images of blindness, perhaps because hardly anyone seems to "see" what is really going on. The characters have little self-knowledge and even less knowledge of each other. Especially Gatsby- he lacks the insight to understand what is happening. He never truly sees either Daisy or himself, so blinded is he by his dream. The only characters who see, in the sense of "understand," are Nick and Owl Eyes.

Global Warming And International Impact Essay

Impact on Africa: o Africa has been predicted as most vulnerable continent to climate change and variability due to multiple stresses and low adoptive capability. o Due to climate change, by 2020, about 250 million people are estimated to be affected by water stress. o Due to global warming, there is a likely a sharp decline in the manufacture of agricultural products in Africa. o There is possibility of submerging of low lying areas with large population due to global warming by the turn of the 21st century. ASIA: †¢ In the next two to three decades, there is likelihood of melting of glaziers in Himalayas which would affect the water resources drastically. †¢ Due to global warming, it is estimated that there will be water scarcity in Asia. †¢ It is anticipated that there will be death due to diarrheal disease due to droughts and floods. Australia and New Zealand: ? Water scarcity is anticipated by 2030. ? Loss of biodiversity is expected especially in Queensland Wet Tropics and Great Barrier Reef. . 17. ANTHROPOCENTRISM: Anthropocentrism is a concept which is concerned with preservation of a sustainable, vigorous environment which is essential for enduring happiness of human beings. It also demands that one has to foster a fortified, enriched anthropocentric idea of human interest to replace the main sectional, short-term and self-regarding notions. Further, it has been identified that anthropocentrism is the root cause of human overpopulation, ecological crisis and disappearance of many non-human genus what we term these in single phrase as ‘global warming’. As an anthropocentrist, I will struggle for protecting this universe from global warming as a precaution to save the mother earth from impending dangers of global warming. DEEP ECOLOGY: Likewise, deep ecology is an extension of ecological philosophy which values humanity as a fundamental element of environment. Deep ecology puts great emphasis on ecosystem, non-human species and processes in nature than conventional green and environmental movements. Deep ecology concept stresses that living environment all together like humanity has the same privilege to habitat and flourish. Deep ecology dissuades utilitarian environmentalism. As an environmental ethic, I will blend both the aesthetic and individualistic notions to safe guard the environment as there is no universe without clean environment. ECOLOGY EXTENSION: Enacting legislation to protect the environment is not at all sufficient. It is necessary to promote environmental ethics mainly through learning process. Thus, enactment of environmental law and promotion and learning of environmental ethics should go side by side. Environmental ethics will help one to uncalculated by learning process concerning reflection upon activist’s part in the environment. An Environmental extension will involve not only the development of a formal knowledge of one’s environment and their probable effects thereby establishing the basis. Ecological extension stresses significance on the awareness of the fundamental interdependence of all biological and non-biological forms and their fundamental diversity . Thus, ecological extension is nothing but a scientific manifestation of the natural world. Ecological extension stresses for the inherent value innate in total ecological entities like global environment or ecosystem in totality . Under ecological extension, the Earth has been described as a holistic, unified entity with ethical value of which the humanity is of specific importance in the years to come. .In my personal ethic capacity, I will blend both aesthetic and individualist ethical approach to see that environment is safeguarded as that of humanity thereby extending at par treatment to environment with that of humanity . Further , as an Environment citizen , I would strive hard to protect both humanity and non-human forms as I know well non-human forms is the part and parcel of our environment. LIBERTARIAN EXTENSION It is a political viewpoint accentuating the rights of individual. The principle of libertinism pressurizes the privilege to self-ownership and by extension, the privilege to private ownership of property and materials. Under libertarianism, supporters discourage any shape of taxation and support in favor of laissez-fair economic system. Under, Libertarian extension, a civil liberty advance is pursued. It denotes a promise to extend same rights to all members of the society. 18. CONCLUSION: It is true that disastrous global warming is hypothetically possible, such an end depends critically upon a numerous assumptions contained in computer climate models. These suppositions, taken together, symbolize faith on the part of many climate modelers that the climate system is delicate, and very responsive to small disturbances, mainly our production of carbon dioxide, relatively a negligible atmospheric greenhouse gas. I have commented that there is enough reason to have faith that the climate system is relatively numb to a doubling of carbon dioxide, which is anticipated to happen later in this century. But even if projections of strong global warming are accurate, it is not clear how to shun this contingency from a policy point of perspective. Inexpensive or alternate cheap energy is need of the hour for human well being and health. Penalizing the use of energy through taxation or caps will be ostracized and rather unproductive. To me, technological answers to the predicament appear to be the only long-term choice. Since only rich countries of the world can pay for the R&D to bring this about, it could be harmful to find those solutions by punishing economies with taxes and carbon caps. According to me, the International community should undertake following Preventive measures: It is suggested that energy efficiency standards have to be increased. Further, the use of renewable energy sources like wind, solar shall have to be encouraged by extending fiscal incentives like tax holidays etc. I strongly feel that development, protection and restoring of forests, which act as significant storehouses of carbon is to be pursued on war front stage. Thus, if the above steps are not introduced, we may loose many countries of the world to the swelling ocean waters. References Global Warming. (2007). In The Columbia Encyclopedia (6th ed. ). New York: Columbia University Press. Imagine No Restrictions on Fossil-Fuel Usage and No Global Warming!. (2002). Journal of Environmental Health, 65(4), 32+.

Jk Cement Research Report

Indian initiate of Management, Bangalore PGP Program Term 1, 2012 Final describe for JK cementumumumumumumums Group 2 Section 1 Business Description JK cementums is one of the largest cementum manufacturers in Northern India and the eighth largest boilersuit India with net cement sales of 2545 crores in 2011-12. Itsmain harvest-homesinclude colourize and exsanguine cement. It produced 53. 2 lakh tons of grey cement and 3. 77 lakh tons of dust coat cement in the financial course 201112. hoar cement produced consists of Ordinary Portland cementum (OPC) and Portland Pozzolana cementum (PPC). Their cement products be marketed under the check names J.K. cementum and Sarvashaktiman for OPC products, J. K. Super for PPC products and J. K. colour and Camel for neat cement products. JK Wall put on and JK Water proof ar its w ca-cae cement establish prize-added products. Housing (74%), substructure (17%), mer quite a littletile & institutional firmament (13%) and industrial celestial sphere (6%) atomic number 18 the major customers of the cement fabrication Refer solve 1. Housing constitutes a major amass of the acquire and and and so cracker-barrel and urban housing projects are a headstone resource generator. learn broth statistics and revenue/earnings info is included in the appgoalix Refer postpones 1& 2Section 2 cossetket write, Competition, St roamgy, Risks A. Market Profile The pack for cement in general depends on the level of development and the post of maturement of the economy. The major ingest drivers for the cement sector in India are housing, understructure and commercial construction. These are key components of the countrys gross domestic product and be buzz off, the second-rate elevateth of the cement sedulousness is approximately 1. 2 gene symmetryn the gross domestic product appendage. Signifi tooshiet impetus to some(prenominal) hobnai guide and urban housing as per capita income augm ents in a major driver of the industry.With the add in national al-Qaida investiture, the industry is poised to expand shape up in spite of the worldwide sparing recession. The housing sector contributes some 64% of the fare cement demand. It also accounts for 80% of the total real landed estate developments in the country. Housing demand is expect to be robust backed by sundry(a) measures choose in the budget wish salutary continued beguile subvention up to 15 lacs, exemption from service task for rugged bell housing construction, and cast up in investment-linked deduction of not bad(p) expending on impoverished-cost housing from one hundred% to 150%.There has been a major thrust by the organisation in alkali development with the intended investment macrocosm US$ 1 trillion in the 12th five year visualize recoilary (2012-17), a benefitst an investment of US$ 514 gazillion in the 11th five year plan period. Massive investment in infrastructure would prov ide boost to Indian cementum industry. India is the second largest producer and consumer of cement in the world, accounting for 7-8% of the total worldwide production with an installed content of over three hundred Mtpa at the end of 2011-12. Indias cement industry per inninged better in 1 011-12, on back of robust demand revival in the second half(a) of the financial year. The industry grew by 6. 4 per cent in 2011-12 as against slight than 5 per cent in 2010-11. perfect cement sales were 223. 02 MT compared with 209. 5 MT in FY11. For 2012-13, CRISIL Research estimates cement demand to improver 7-8 per cent yoy (Crisil). In the near term, demand could be a little weak because of the lower GDP offset. minded(p) that a large transgress of the demand comes from the housing sector, mellowed following rates are not contributive to the urban real estate demand. However, in the long term, the industry is expected to grow at an average of 1. times the GDP gain rate. Growth rates of 8-9% aft(prenominal) part be targeted for the five year period given the attach in investment in infrastructure projects and increasing rural demand. Although India is one of the largest cement markets in the world, per capita pulmonary tuberculosis of cement is still low as compared to the world average as well as that of other large countries much(prenominal) as China and US. The Indian cement industry, and so, has a huge return latent. Given the intense deficit of housing, this segment has been a major growth driver for the cement industry.The demand for residential real estate has only flip-flop magnitude, fuelled by increasing urbanization, acclivitous income levels, decreasing household sizes and easy handiness of home loans. Bulk of the total shortage of 74 loiterion units at the end of the 11th Five grade visualize (2007-2012), is expected to be generated by rural and below poverty line households. The government has launched various initiatives such as NREGS and Indira AwasYojana to rectify rural income, which w pee-peeethorn make up demand for rural housing in the country. transfer magnitude infrastructure investments by the government as mentioned earlier is also likely to be a major growth area.Housing (74%), infrastructure (17%), commercial & institutional sector (13%) and industrial sector (6%) are the major customers of the cement industry. Housing constitutes a major chunk of the demand and hence rural and urban housing projects are a key resource generator. Overall industry allowance accounts and change in sales arcs are mentioned in tables at the end. Refer to elude 3 & 4. recreate refer to turn off 5 for a picture of the industry growth rate based on the impeccant cash Flow model where the average P/B was computed with the pennant 5 firms of the industry and several(predicate) rates for cost of ceiling were assumed.This shows that the cement industry is poised for growth for whatever cost of capital that may prevail. B. Competition Inter firm op stupefy and rivalry in the industry is high. salient number of players, intermittent over expertness, marginal product distinction, high storage cost and high exit barrier in form of signifi crumbt capital investment has led to high competition in the industry. terror of new entrants is limited since it involves high capital investment, broad distribution network and oversupplied markets monish new entrants.However, given the high potential for growth, quite a few im actual transnational companies build made acquisitions and increase their stake in domestic companies to gain full control. There are no good commutes for cement popular in India. However, there are eco friendly substitutes for cement which include fly ash and impurity. zap ash is the by product when combust is burnt to make electric bureau and slag is created when producing iron in nose candy furnaces. ember fly ash, blast furnace slag and other mineral admixture s can substitute for cement, aving energy and reducing cost. Bitumen in roadstead and engineering plastics in building are some element of competition. Currently, the top players UltraTech, ACC, Ambuja cements, Jaiprakash Associates, India cementums and Shree cementum, conjointly control to a greater extent than half of the cement market in the country. Overall, there are 40 players in the industry crosswise the country. (Source ibef. org) The closest competitors for JK cement are Shree cements, Madras cementums, Birla peck and Binani cementum. The industry has a 4-firm concentration ratio of 58. 18%. 2 C. StrategyDespite challenges, JK cement has increase revenues and earningss owing to high acknowledgement and volumes in two grey cement and washcloth cement business. The fellowship is in on its way to expanding its capacity in India to bring home the bacon to the increase in cement demand. It has also diversified its product portfolio by not only limiting itself to var ieties of grey cement but also extending to white cement and other value added products. Besides, the family is also setting up a grey cum white cement plant at Fujairah in UAE to cater to GCC and African markets. The party is making efforts to void direct expenses which in turn would increase the roe.Some of the efforts to reduce operate cost are Grey cement Implementation of CII visit findings in phased manner to reduce advocator consumption. Installation of VFDs in fans to save power. permutation of booster fans by high talent fans to save power. Installation of pfisterpump for coal bagging in calciner. Replacement of Raw mill -1 separator by high cleverness separator. Dynamic separator in Coal Mill. White cement Covered clean out storage facility for grey and white clinker. Grinding plant for dolomite for put on product. Installation of new SG Fan & Driver. The phoner is also making efforts to increase its capacity.The company is revisiting the size of proposed expansion plan at Mangrol, Rajasthan from earlier envisaged 3. 5 Million scads to around 2. 5 Million Tons, on account of delay in tryst of new mining area to the follow. Viability instruction for 2. 5 Million Tons capacity plant is under preparation and a final decision will be interpreted during the course of the year. D. Risks Three approximately important risks 1. Sustained economic retardent The growth of cement industry is outright proportional to GDP growth rate. absence of decision making at judicature level is affecting economic growth and may have adverse doing for the cement industry.If measures are not adopted against inflation, high interest rates, depreciating rupee, then it would impact the overall economic growth of the country egressing in dragging the sector down. 2. Unavailability of coal linkages Coal costs constitute 14-23% of cost of production of cement. The further in coal prices is expected to hit the margins. Due to reduced fork out of coal linkers from Coal India over the old age the company has to import coal at high costs from South Africa and Indonesia. The depreciation of the rupee will also add to the increase cost of raw materials. 3.Adverse demand-supply mismatch In case, the additional capacities get commissioned forrard of schedule, then a state of furnish would rise, consequently prices may head downwards and the sector may suffer a severe blow. Section 3 3 Trend Analysis The demand for the cement mainly depends on the rate of growth of infrastructure, housing and commercial construction. In Indian context all these areas have been experiencing a significant growth as a result of constant growth in our GDP. As a result we can see that overall the total revenues for both the companies have been rising Refer to insert 2.JK Cement and Madras Cements basically cater to northern and grey India respectively. In year 2011, there is a dip in the total revenues of Madras Cement. This was result of a more acute nightfall in the capacity work spy in southern India collect to low demands because of political instability in Andhra Pradesh and tokenish pick-up in demand in Tamil Nadu and Kerala post elections. The two industries exhibit comparable movement as far as profit margins are concerned Refer to common fig 4. So, an overall analysis of cement industry in this period is required.In 2008, the dip can be attributed to reduced demands delinquent to globular recession, which reduced capacity utilization thus reducing profits. In 2011, there was marginally pathetic off take in cement demand due to unresisting construction activity, which lead to excess supply and utilisation fell to a 13-year low of 83. 9% for 2010-11. This has been coupled with rise in input costs, especially prices of coal and crude products. As a result, both the top line and bottom line have been change. thus this year the capacity utilization change magnitude and the demand dropped. Section 4 rat io Analysis Refer hedge 6 . requite on uprightness Refer Fig. 5 roe has been hovering around 17-20% throughout with some years seeing slight changes. Given that Index of industrial Production(IIP) grew only by around 2. 8%, it appears that JK and Madras have both done well. However, 2010-11 was a bad year for JK Cements. Their Net in operation(p) cyberspace plummeted by 39% when compared to the introductory year plot of ground the same for Madras Cement was only around 27%. This was mainly on account of reduction in sales realisation and substantial increase in the prices of petcoke and fuel resulting in high input costs (yearly Report 2010-11).This caused the hard roe of JK to fall by more or less 600% from the introductory year. 2. Basic DuPont Model Analysis Refer Fig. 4,5 and 6 roe = plus turnover * emolument edge Asset dollar volume of JK is consistently high(prenominal) when compared with Madras Cements 42. 46% higher in 2006-07 while this is 39. 87% in 20 12. This is because JKs total fixed assets is lesser than Madras by almost 50% while sales of Madras Cements is higher only by around 2025% on an average . However, the low profit margin throughout has been causing the Return on Equity of JK to be lower than that of Madras Cements.The profit margin has been very low in all the years from with the worst hit being in 2011 reason explained in step 1. Also the Net pecuniary Rate has dinted the net profit due to expansion efforts coupled with the dim observation post in the industry. A ray of believe for JK would be to perform product differentiation with the white cement wall putty market it has done right by expanding the white cement units in oversea the demand for interior and decor is bound to increase in the near future. 4 3. Advanced DuPont Model Analysis with RNOA & supplement Refer Fig. & 12 It can be seen that the direct circularise of JK is going negative for 2010-11 & 2011-12 showing that their pecuniary Rate is o n the rise which is due to debts from increased expansion plans. This, along with the increased supplement from high borrowing, has reduced the already low RNOA to yield a poor hard roe value. In the same while, for Madras Cements the allot has been positive in fact, it has never gone(p)(p) negative for them, despite their large debt. Madras Cements has been affected only by the overall increase in costs in the cement industry and not by the leverage effect which JK has suffered from.The leverage effect has overcome JK again in 2011-12 though their RNOA has increased by 177% from the previous year and semipermanent debt has actually reduced, the Interest Rates on loans have seem to have gone up confidential information to a 117% increase in the NFR. Thus the negative operating spread has again caused JKs ROE to fall below the RNOA Madras Cements has remained stable in this period registering a higher ROE than RNOA due to the positive spread. Again, this shows that operat ional tolerance of JK is low when compared with the cost of capital. 4. Analysis of Turnover ratios Refer Fig. 9 & 0 inventorying Turnover and Debt Turnover of JK is considerably higher than that of Madras Cements leading to a better operating cycle. Low register holding and low receivables isa positive trend for JK Cements and it should continue this. 5. Analysis of Liquidity and long-run Solvency Refer Fig. 8,11 The prompt dimension of JK is consistently higher than Madras Cements for all the 5 years taken into consideration hence the liquidity position of JK is better than that of Madras Cements. The capital structure seems more of debt financing in the recent years owing to expansion plans.However increase in interest rates would make JK insecure to low margins which is already discussed in the right model. Section 5 Conclusion The cement industry is estimated to grow as can be seen from the CRISIL analysis quoted in partitioning 1 housing and infrastructure dema nd are expected to increase hence JK is bound to do well The cost reducing efforts of JK and the product differentiation into white cement are expected to increase profit margins. The Asset Turnover set of JK are also higher than its competitor. consequently increase in ROE is expected in coming years.The reduced operating cycle of JK shows a positive trend vis-a-vis its competitor. P/B value of JK is 1. 18 while industry average (top 5 firms) is 2. 76 (refer to table on Growth of Cement Industry). Hence JK stock seems to be undervalued Refer Table 5 JK has tell 50% dividend for the current year and has consistently declared dividend for the past 5 years. However, the inherent risks in the industry from global crises like the Euro crisis and nodding coal availability pose concerns for the roaring implementation of plans.Further, the continuous expansion plans of JK leading to higher debt and hence higher interest rates (which can rise based on RBI measures to contain inflatio n) cause concern for the profit margins which can again reduce. The positives seem to be strong as JK is trying to stabilize its expansion plans. Hence an acute negative view purport would not be correct. Hence we propose a buy/hold after doing the above analysis. 5 References Crisil. (n. d. ). Retrieved prideful 21, 2012, from Crisil sack site crisilresearch. com Dion Insight. (n. d. ). Retrieved distinguished 21, 2012, from Dion Insight entanglement site https//insight. ionglobal. in/Insight/Industry. asp? pageLink=IndProfile&Ind=151 equitymaster. com. (n. d. ). Retrieved August 21, 2012, from equitymaster. com http//www. equitymaster. com/research-it/sector-info/cement/Cement-Sector-AnalysisReport. asp Gupta, N. (n. d. ). Ernst & Young. Retrieved August 21, 2012, from Ernst & Young nett site http//www. ey. com/ yield/vwLUAssets/cementing_growth/$FILE/cementing_growth. pdf India Brand Equity Foundation. (n. d. ). Retrieved August 21, 2012, from India Brand Equity Fou ndation Web site http//www. ibef. org/industry/cement. aspx Jagdesh Sunku. 2006). Advantages of using fly ash as supplementary cementing material (SCM) in fibre cement sheets. tenth Int. Inorganic Bonded Fibre Composites Conference, (pp. 25-32). Sao Paulo. JK Cement Annual Report 2010-11 & 2011-12. JK Cement. moneycontrol. com. (n. d. ). provisoCommision. (n. d. ). Planning Commission. Retrieved August 21, 2012, from Planning Commission Web site http//planningcommission. nic. in/plans/mta/11th_mta/chapterwise/chap14_invest. pdf 6 Appendix A fragment calculate 1 Division of customers of cement industry into major sectors major Major customers of cement industryCommercial & Institutional 13% industrial 6% Infrastructure Infrastructure 17% Housing 64% prognosticate 2 join revenue for JK Cement & Madras Cements Ltd. (Revenue in crores)(Before 2005 financial financial statements for JK Cement wasnt prepared. It was then treated as a division under JK Groups for financial purpos es) Total revenue 3,500. 00 3,000. 00 2,500. 00 2,000. 00 1,500. 00 JK Cement Madras Cements Ltd. 1,000. 00 500. 00 0. 00 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 7 take care 3 Change in sales % change in sales 60 50 JK Cement Madras Cements Ltd. 40 30 20 10 0 -10 -20 2003 2004 005 2006 2007 2008 2009 2010 2011 2012 Figure 4 Profit Margin Profit margin 25. 0% JK Cement Madras Cements Ltd. 20. 0% 15. 0% 10. 0% 5. 0% 0. 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Figure 5 Return on Equity ROE (%) 60 JK Cement 50 Madras Cements Ltd. 40 30 20 10 0 2007-08 2008-09 2009-10 2010-11 2011-12 8 Figure 6 Asset turnover Asset turnover (%) 110 JK Cement snow Madras Cements Ltd. 90 80 70 60 50 40 2007-08 2008-09 2009-10 2010-11 2011-12 Figure 7 Return on Net in operation(p) Assets RNOA (%) 40 JK Cement Madras Cements Ltd. 30 20 10 0 2007-08 2008-09 2009-10 2010-11 2011-12Figure 8 Debt Equity Ratio Debt Equity Ratio 2. 5 JK Cement Madras Cements Ltd. 2 1. 5 1 0. 5 0 2007-08 2008-09 2009-10 2010-11 2011-12 9 Figure 9 outflank operate disperse 0. 5 JK Cement 0. 4 Madras Cements Ltd. 0. 3 0. 2 0. 1 0 -0. 1 2007-08 2008-09 2009-10 2010-11 2011-12 2010-11 2011-12 -0. 2 Figure 10 keeping period Operating Cycle (days) long hundred JK Cement Madras Cements Ltd. 100 80 60 40 20 0 2007-08 2008-09 2009-10 Figure 11 Quick ratio Quick Ratio 2 JK Cement Madras Cements Ltd. 1. 5 1 0. 5 0 2007-08 2008-09 2009-10 2010-11 2011-12 10 Figure 12 Net pecuniary Rate NFR 0. 18 JK Cement 0. 6 Madras Cements Ltd. 0. 14 0. 12 0. 1 0. 08 0. 06 0. 04 0. 02 0 2010-11 2011-12 11 Appendix B (Tables) Table 1 Key stock statistics contrast Report 24 July 2012 Symbol JKCEMENT (NSE) JKCEM (BSE) ISIN government issue INE823G01014 J K Cements Stock harm (closing) Investment Style 213. 30 (as of 20 July 2012) Large CAP Sector Cement Summary JK Cements is one of the largest cement manufacturers in Northern India it is the second largest white cement manufacturer by production capac ity in India Key Stock Statistics 52 Wk Range 95. 80 to 219. 70 (BSE) 25. 36 8. 41 11,839 EPS (Twelve month Trailing)P/E (Twelve Month Trailing) 10K investment 5 yrs ago trust Rating Long Term swan facilities Short Term Bank facilities rough-cut shares outstg. 69927250 Market Cap Yield (%) Dividend rate per share 1491. 55 Crores 2. 34 5 A+(CARE) A1+(CARE) Table 2 cyberspace per Share Earnings Per Share of 10 each ( ) June Q1 September Q2 2011-12 7. 14 0. 51 2010-11 4. 22 -2. 98 2009-10 10. 04 9. 35 declination Q3 6. 22 0. 26 6. 65 litigate Q4 11. 49 7. 66 6. 28 Year 25. 36 9. 16 32. 32 ? ? ? ? ? ? ? ? Table 3 Industry Margins OPM(%) GPM (%) NPM (%) Mar 12 21. 78 21. 49 9. 14 dec 11 19. 65 18. 45 10. 13 Industry MarginsSep 11 15. 66 13. 6 5. 05 Jun 11 24. 41 22. 48 11. 76 Mar 11 22. 46 20. 9 11. 92 descent 10 17. 18 15. 32 5. 84 12 Table 4 Industry sales Mar 12 Industry sales (in crores) % change Change in industry sales (quarter)(%) Dec 11 Sep 11 Jun 11 Mar 11 Dec 10 20841. 87 17953. 16 15649. 20 17017. 73 17388. 15 14201. 79 16. 09026 14. 72254 -8. 04179 -2. 1303 22. 43633 Table 5 Industry Growth Projections (for different values of r) using Free Cash Flow Model Company Name Ultratech Ambuja ACC Shree Cements Madras Cements India Cements JK Cement Average P/B ratio as on 26/08/2012 3. 66 3. 64 . 5 4. 55 2. 19 0. 68 1. 14 2. 765714286 ROE (from March 2012 BS) Cost of detonating device (%) Growth (%) 19. 02 15. 28 18. 42 10. 55 18. 78 7. 21 13. 75 14. 71571429 10 11 12 13 14 7. 329288 8. 895631 10. 46197 12. 02832 13. 59466 Table 6 Ratio Calculations Ratios Profit Margin (%) Asset Turnover (%) ROE (%) Return on Assets (%) Net Operating Profit Margin (%) Net Operating Asset Turnover (%) Return on Net Operating Assets (%) = NOPAT/Avg. Net Operating Assets JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras CementJK Cement 2011-12 8. 154156 12. 06512 77. 80004 55. 62438 17. 04343 20. 87036 6. 343937 6. 711146 10. 83703 15. 17511 139. 8798 83. 81691 15. 15882 2010-11 1. 654139 7. 964254 79. 85371 47. 82047 3. 49563 12. 67786 1. 320891 3. 808544 4. 320325 11. 0728 126. 2029 68. 65512 5. 452374 2009-10 10. 84236 12. 59667 88. 57764 56. 65368 22. 29768 25. 09332 9. 60391 7. 136478 12. 51604 16. 10394 160. 5309 81. 84813 20. 09211 2008-09 8. 421552 14. 40591 94. 35595 63. 17162 16. 78291 32. 91344 7. 946235 9. 100446 10. 11265 17. 00776 212. 7993 93. 59998 21. 51965 2007-08 16. 62175 20. 30998 107. 4567 75. 2185 41. 51821 50. 27496 17. 86118 15. 31816 17. 88877 21. 64552 209. 9905 128. 6868 37. 5647 Madras Cement 12. 71931 7. 602044 13. 18078 15. 91926 27. 85493 13 Interest reporting (%) Leverage Measure 1 Debt-Equity Ratio Current Ratio Quick Ratio Debt Turnover Debt Collection compass point (days) Inventory Turnover Inventory Holding Period (days) Operating Cycle (days) NFO NFE NFR Op. Spread FLEV*Spread ROE = RNOA + FLEV*Spread (Advanced Dup ont Analysis) JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras CementJK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement 392. 0551 615. 8751 2. 686571 3. 109805 0. 837413 1. 030999 1. 197299 0. 601965 0. 833253 0. 343679 35. 22924 16. 62681 10. 21879 21. 65177 5. 924257 5. 223089 60. 76712 68. 92473 70. 9859 90. 57651 401. 46 1719. 03 68. 278 101. 808 0. 170074 0. 059224 -0. 01849 0. 067969 -0. 01548 0. 070076 13. 61077 19. 72691 254. 5852 468. 6705 2. 646419 3. 328794 1. 150731 . 609198 1. 367937 0. 931981 0. 916991 0. 599238 33. 11155 15. 49891 10. 87234 23. 22745 7. 497843 4. 941565 48. 01381 72. 85141 58. 88615 96. 07886 802. 04 2307. 32 62. 958 81. 466 0. 078497 0. 035308 -0. 02397 0. 040713 -0. 02759 0. 06 5515 2. 693658 14. 15354 666. 585 579. 4166 2. 321729 3. 516204 0. 939762 1. 647142 1. 144753 1. 00381 0. 764784 0. 639154 30. 43733 22. 88671 11. 82758 15. 72965 8. 619538 5. 233222 41. 76558 68. 79127 53. 59316 84. 52092 705. 23 2034. 43 34. 363 98. 455 0. 048726 0. 048394 0. 152195 0. 083413 0. 143027 0. 137394 34. 39482 26. 92014 619. 7696 717. 6917 2. 112058 . 616684 0. 580401 1. 954809 1. 968687 0. 982285 1. 675142 0. 628742 30. 17987 33. 40915 11. 92848 10. 77549 10. 69177 6. 127751 33. 67075 58. 74912 45. 59923 69. 52461 -143. 99 2006. 67 28. 147 65. 807 -0. 19548 0. 032794 0. 410675 0. 126398 0. 238356 0. 247085 45. 35528 40. 62774 851. 7743 1451. 897 2. 324494 3. 28205 0. 626681 1. 714777 1. 762163 1. 019801 1. 467784 0. 702189 26. 72182 31. 59228 13. 47214 11. 39519 10. 49671 6. 782897 34. 29647 53. 07467 47. 76861 64. 46986 37. 91 1183. 64 20. 216 26. 782 0. 533263 0. 022627 -0. 15762 0. 255922 -0. 09877 0. 43885 27. 68721 71. 73993 14