La Belle Epoque free essay sample

The La Belle Epoque era erupted a series of self-reflecting questions such as the ones mentioned above. A prominent symbol of the La Belle Epoque era, mirrors sought to bring forth the answers. Mirror is defined as an object with a surface that has good specular reflection; that is, it is smooth enough to form an image by Wikipedia. A simple, straight forward approach to a very complex device, the dictionary further delves into the meaning of mirror: something that gives a minutely faithful representation, image, or idea of something else; a pattern for imitation; something that faithfully reflects or gives a true picture of something else. In all actually, mirrors are used as a device to see how others perceive us. However, they are deceptive, misleading. Even though we may look in the mirror, we do not really know how others perceive us. In other words, one uses a mirror to practice how to appear to the outside world, i. We will write a custom essay sample on La Belle Epoque or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page e. facial expressions, smiles, posture, etc. It essentially enables us to learn about ourselves. Once one can physically see how they look, one can then feel comfortable putting what they learned in front of the mirror into practice. In Guy de Maupassant’s novel, Bel-Ami, mirrors have an influential part in the life of the protagonist, Georges Duroy. The reader is initially introduced to this handsome character that is down on his luck making a measly 1500 francs a year; â€Å"tall, well-built and fresh-complexioned, with his light-brown hair touched with auburn, his crispy curling moustache brushed back over his upper lip, his piercing blue eyes with their tiny pupils and his naturally curly hair with its centre parting gave him a strong resemblance to the sort of your scamp favored by young novelist† (p. 26). Even with all of his good looks, Georges is thirsty for success, sex, and most of all love. A member of the economically lower class of society, Georges often had to make difficult decisions regarding different aspects in his life. Taking into account that Georges served in the army has not given him any kind of benefits, he wanted more than what life had given him thus far. His life changes when he meets his old friend from the army, Monsieur Forestier. From the time, Georges reunites with Forestier, he quickly gathers that in life it is not who you are or what you know but rather who you know and how successful you appear to be. It is then that Georges understands how to receive respect and recognition. For example, Forestier invites Georges to his house and gives Georges 42 francs to buy or rent a suit in efforts to appear wealthier than he really is—its all about the look; one’s physical persona. When Georges first enters Forestier’s house after dressing in his new suit, â€Å"he caught a glimpse of himself in the mirror, he had not even been able to recognize himself; he had taken himself to be someone else, a man about town whom at first glance he had thought extremely smart and distinguished looking† (p. 44). Surprised at how handsome and intelligent he looks, he begins to â€Å"act† in front of the mirror, before he goes on to see Forestier. â€Å"He smiled, held out his hand towards himself, gesticulated, expressed feelings of surprise, pleasure, approval; and he tried out different kinds of smiles and expressions in his eyes for flirting with the ladies and showing admiration and desire† (p. 44). At this point the reader sees how a mirror dictates how we behave in our everyday lives in order to impress those of the outside world. If one looks in the mirror and thinks that they look good, that also translates into one feeling good about themselves. Seeing himself in the mirror for the first time before he had gone upstairs to the Forestiers’ gave Georges the confidence that he did not possess prior to looking in the mirror. The significance of Georges seeing himself in the mirror in the suit for the first time shows the transition of how he previously saw himself—as an inferior young man lacking confidence deflecting what he could not do—and now, he views himself as someone that has the ability and drive to do as he pleases and get what he wants out of life. Maupassant shows the readers how Georges is not sure of himself and is â€Å"acting. Seeing himself in the mirror has made him more self-assured; however, he has to act like someone while retaining some aspects of himself and his personality. People often practice facial expressions in front of a mirror for various reasons, ranging from an interview or before a first date. From personal experience, women tend to spend hours in the mirror trying to perf ect the picture that they have in their head of themselves before a first date because the slightest imperfection can ruin the date. This stresses how important appearance is in society. Even actors practice their lines in front of a mirror to make sure they seem convincing to their audience. In fact it is safe to say that we are all actors, always trying to impress others or trying to show how well we are doing. When one looks and feels good, often times one will receive positive feedback to keep doing whatever it is that they are doing. Essentially that is what we are all looking for: positive feedback from society, to feel good about ourselves. Mirrors also give people a sense of where they are going. In other words, mirrors can give us a wake-up call. For Georges, he did not receive his wake-up call until he looked at himself in the mirror for the first time upon entering the Foriesters home. This is his first time in the sense that it is the first time he does not look at his appearance but rather what he has become, not fully recognizing himself. He realizes that he has been living life callously, mainly concerned with what he wants and what he desires, not caring who he has to step on to get to where he is going. His wake-up call is a real eye-opener. Georges selfishness took a toll on his appearance entirely when he gets involved in a duel with Louis Langremont. Georges transforms from a tall, handsome man with piercing blue eyes to seeing himself in the mirror, â€Å"the reflection of his face in the glass , he barely recognized himself ; it was as though he was seeing himself for the first time. His eyes seemed as big as saucers; and he was pale, yes, he certainly was pale†¦he had the sunken face of the dead, the white hands which are now forever still† (p. 183). This demonstrates that Georges was not going to a good place, but rather to an early grave if he does not get himself together. Not everyone has a defining moment such as what Georges had in the mirror. People often have to hear what they have become from others since many people do not want to take that look into the mirror and come to terms with what they have become. This makes it all the more difficult to change. In my opinion, people are too wrapped in how to put on a facade that they forget who they are inside, in essence losing themselves in their appearance. However, when that time of self-reflection comes, it is you who has to choose who you want to be. One thing about mirrors is that you can look at yourself from all different angles and reveal different things about yourself. Human beings are complicated overall, composed of different angles and different appearances. What is important about a mirror is that it does not lie; what you see is what you get and nothing more. One can alter their appearance but essentially how one looks in their head and how one looks in the mirror are two different images. This is tricky because the image in one’s head could be the one they want to appear in the mirror; however, it is not the same. Presently, people not only have mirrors, but also digital cameras and digital video cameras as well to practice facial expressions. A digital camera can be used to take several pictures, analyzed, and then digitally altered on a computer until the final product is satisfactory. But in the end we are who we are. I believe that everything around us is a mirror. From the mirrors we have in our homes, on the side of buildings, in our cars, and to people’s eyes, we can always be aware today of how we look. Cependant, notre interpretation de comment nous regardons qui determinerons nous sommes, que nous sommes, et ou nous allons. Cest le cliche mais vrai : les yeux sont les miroirs de lame. We all need to look deeper and find our inner self.

20 Great Similes from Literature to Inspire You

20 Great Similes from Literature to Inspire You 20 Great Similes from Literature to Inspire You 20 Great Similes from Literature to Inspire You By Mark Nichol Similes, metaphors, and analogies are turns of phrase that help readers conjure images in a narrative, whether in fiction or nonfiction, but it is in the latter form that they bloom more profusely. And what’s the difference between each of the three literary devices? A simile is a comparison between one thing and another. If you refer to a figure of speech blooming like a flower on a page, you have created a simile. If you more directly say that the figure of speech bloomed before your eyes, you have employed a metaphor. An analogy is a more practical, didactic description: â€Å"Imagine that the figure of speech is like a flower blooming on the page.† Analogy is more common in nonfiction, but simile and metaphor are found there as well. Strive to create engaging similes and metaphors, but insert them in the service of your prose, as stars in the sky, not entire moons. They are foot soldiers, not field officers, in your campaign to inform and/or interest your readers. They are chorus members, not ingenues; extras, not stars. They are OK, enough with the metaphors, already. But before I share with you 20 top similes from great literature, I offer a few tips, like lanterns that serve to light your way: They should be simple and clear: The ones you will read below are literally outstanding, but they’re also removed from their context, where they are mere flowers in fertile fields of great writing. Similes and metaphors should be useful, concise, and then perhaps memorable as well, in that order. And if the task of creating one becomes toil, you’re trying too hard, and your exertions will show. They should stir, but they shouldn’t be mixed: When you adopt a specific theme, stick with it. A mixed metaphor is a missed opportunity, and a distraction rather than a delight. They should be original: If a simile or metaphor doesn’t rise head and shoulders above a more functional description, it won’t fly. Make sure the imagery is worth the effort of creating it. They should entertain: A simile or metaphor, to return to a previously employed metaphor, is like an actor with a bit part who utters a single line, but that line should be trenchant or ticklesome. They should be visually arresting: Similes and metaphors are intended to paint a picture for the reader in order to endow a person, place, or thing with resonance. Herewith, lessons in incandescent imagery: 1. â€Å". . . she tried to get rid of the kitten which had scrambled up her back and stuck like a burr just out of reach.† Little Women, by Louisa May Alcott 2. â€Å"Time has not stood still. It has washed over me, washed me away, as if I’m nothing more than a woman of sand, left by a careless child too near the water.† The Handmaid’s Tale, by Margaret Atwood 3. â€Å"Her romantic mind was like the tiny boxes, one within the other, that come from the puzzling East . . .† Peter Pan, by J. M. Barrie. 4. â€Å". . . and snow lay here and there in patches in the hollow of the banks, like a ladys gloves forgotten.† Lorna Doone: A Romance of Exmoor, by R. D. Blackmore 5. â€Å"I would have given anything for the power to soothe her frail soul, tormenting itself in its invincible ignorance like a small bird beating about the cruel wires of a cage.† Lord Jim, by Joseph Conrad 6. â€Å"In the eastern sky there was a yellow patch like a rug laid for the feet of the coming sun . . .† The Red Badge of Courage, by Stephen Crane 7. â€Å". . . when I laid down the paper, I was aware of a flash rush flow I do not know what to call it no word I can find is satisfactorily descriptive in which I seemed to see that bedroom passing through my room, like a picture impossibly painted on a running river. To Be Taken with a Grain of Salt, by Charles Dickens 8. â€Å". . . utterly absorbed by the curious experience that still clung to him like a garment.† Magnificent Obsession, by Lloyd C. Douglas 9. â€Å"She entered with ungainly struggle like some huge awkward chicken, torn, squawking, out of its coop.† The Adventure of the Three Gables, by Sir Arthur Conan Doyle 10. â€Å"He looks like right after the maul hits the steer and it no longer alive and don’t yet know that it is dead.† As I Lay Dying, by William Faulkner 11. â€Å"Past him, ten feet from his front wheels, flung the Seattle Express like a flying volcano.† Arrowsmith, by Sinclair Lewis 12. â€Å"Her father had inherited that temper; and at times, like antelope fleeing before fire on the slope, his people fled from his red rages.† Riders of the Purple Sage, by Zane Grey 13. â€Å"The very mystery of him excited her curiosity like a door that had neither lock nor key.† Gone with the Wind, by Margaret Mitchell 14. â€Å"Elderly American ladies leaning on their canes listed toward me like towers of Pisa.† Lolita, by Vladimir Nabokov 15. â€Å"Camperdown, Copenhagen, Trafalgar these names thunder in memory like the booming of great guns.† Mutiny on the Bounty, by Charles Nordhoff and James Norman Hall 16. â€Å"It was Franà §oise, motionless and erect, framed in the small doorway of the corridor like the statue of a saint in its niche.† Swann’s Way, by Marcel Proust 17. â€Å"The water made a sound like kittens lapping.† The Yearling, by Marjorie Kinnan Rawlings 18. â€Å"Kate inched over her own thoughts like a measuring worm.† East of Eden, by John Steinbeck 19. â€Å"He swung a great scimitar, before which Spaniards went down like wheat to the reaper’s sickle.† The Sea-Hawk, by Rafael Sabatini 20. â€Å". . . impressions poured in upon her of those two men, and to follow her thought was like following a voice which speaks too quickly to be taken down by ones pencil . . .† To the Lighthouse, by Virginia Woolf Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Fiction Writing category, check our popular posts, or choose a related post below:Bare or Bear With Me?Among vs. AmongstWhile vs. Whilst

The Odyssey Summary

'The Odyssey' Summary The Odyssey, Homers epic poem, is comprised of two distinct narratives. One narrative takes place in Ithaca, an island whose ruler, Odysseus, has been absent for twenty years. The other narrative is Odysseus’ own journey back home, which consists both of present-day narrations and recollections of his past adventures in lands inhabited by monsters and natural wonders. Books 1-4: Telemacheia The Odyssey begins with an introduction that presents the theme and the protagonist of the work, Odysseus, emphasizing the wrath of Poseidon towards him. The Gods decide that it’s time for Odysseus, who is being held captive by the nymph Calypso on the island of Ogygia, to come home. The Gods send Athena to Ithaca in disguise to speak with Odysseus son, Telemachus. Ithacas palace is occupied by 108 suitors all seeking to marry Penelope, who is Odysseus wife and Telemachus mother. The suitors constantly taunt and belittle Telemachus. The disguised Athena comforts a distressed Telemachus and tells him to go to Pylos and Sparta to learn of his father’s whereabouts from the kings Nestor and Menelaus. Aided by Athena, Telemachus leaves in secret, without telling his mother. This time, Athena is disguised as Mentor, Odysseus’ old friend. Once Telemachus reaches Pylos, he meets the king Nestor, who explains that he and Odysseus parted ways shortly after the end of the war. Telemachus learns about the disastrous homecoming of Agamemnon, who, upon his return from Troy, was killed by his wife and her lover. In Sparta, Telemachus learns from Menelaus’ wife Helen that Odysseus, disguised as a beggar, managed to get into Troy’s stronghold before it capitulated. Meanwhile in Ithaca, the suitors find out that Telemachus departed and decide to ambush him.   Books 5-8: At the Phaeacians’ Court Zeus sends his winged messenger Hermes to the island of Calypso to convince her to release her captive Odysseus, whom she wanted to make immortal. Calypso consents and provides assistance by helping Odysseus build a raft and telling him the way. Yet, as Odysseus approaches Scheria, the island of the Phaeacians, Poseidon catches a glimpse of him and destroys his raft with a storm. After swimming for three days, Odysseus makes it onto dry land, where he falls asleep under an oleander tree. He is found by Nausicaa (the princess of the Phaeacians), who invites him over to the palace and instructs him to ask her mother, queen Arete, for mercy. Odysseus arrives to the palace alone and behaves as he is told, without revealing his name. He is granted a ship to leave for Ithaca and is invited to join the Phaeacian’s feast as an equal. Odysseus stay culminates with the appearance of the bard Demodocus, who recounts two episodes of the Trojan War, interposed by the retelling of the love affair between Ares and Aphrodite. (Though not made explicit, Demodocus storytelling ostensibly moves Odysseus to recount his own journey, as Odysseus first-person narration begins in Book 9.) Books 9-12: Odysseus’ Wanderings Odysseus explains that his goal is to return home and begins to recount his previous voyages. He tells the following story: After a disastrous first venture in the land of the Cycones (the only population in The Odyssey that is also mentioned in historical sources), Odysseus and his companions found themselves in the land of the Lotus-eaters, who attemped to give them food that would have made them lose the will to get home. Next came the land of the Cyclops, where nature was bountiful and food was plenty. Odysseus and his men became trapped the cave of the cyclops Polyphemus. Odysseus escaped by using his cleverness to trick Polyphemus, then blinding him. With this act, Odysseus inspired Poseidons wrath, as Polyphemus was a son of Poseidon. Next, Odysseus and his fellow seafarers met Aeolus, the ruler of the winds. Aeolus gave Odysseus a goatskin containing all the winds except Zephyr, which would blow them towards Ithaca. Some of Odysseus companions believed the goatskin contained riches, so they opened it, which caused them to drift in the sea yet again. They reached the land of the cannibal-like Laestrygonians, where they lost some of their fleet when the Laestrygonians destroyed it with rocks. Next, they met the witch Circe on the island Aeaea. Circe turned all the men but Odysseus into pigs and took Odysseus as a lover for a year. She also told them to sail west to communicate with the dead, so Odysseus spoke with the prophet Tiresias, who told him not to let his companions eat the Sun’s cattle. Upon his return to Aeaea, Circe warned Odysseus against the sirens, who lure sailors with their deadly songs, and Scylla and Charybdis, a sea monster and a whirlpool. Tiresias’ warning went unheeded due to famine, and the sailors ended up eating the Sun’s cattle. As a consequence, Zeus brewed up a storm that caused all men but Odysseus to die. That’s when Odysseus arrived on the island of Ogygia, where Calypso kept him as a lover for seven years.   Books 13-19: Back to Ithaca After finishing his account, Odysseus receives even more gifts and riches from the Phaeacians. He is then transported back to Ithaca on a Phaeacian ship overnight. This enrages Poseidon, who turns the ship to stone once it’s almost back to Scheria, which in turn makes Alcinous swear that they will never help any other foreigner again. On the shore of Ithaca, Odysseus finds the goddess Athena, who is disguised as a young shepherd. Odysseus pretends to be a merchant from Crete. Soon, though, both Athena and Odysseus drop their disguises, and together they hide the riches given to Odysseus by the Phaeacians while plotting Odysseus’ revenge. Athena turns Odysseus into a beggar and then goes to Sparta to assist Telemachus in his return. Odysseus, in the beggar disguise, pays a visit to Eumaeus, his loyal swineherd who shows kindness and dignity to this apparent stranger. Odysseus tells Eumaeus and the other farmers that he is a former warrior and seafarer from Crete. Meanwhile, aided by Athena, Telemachus reaches Ithaca and pays his own visit to Eumaeus. Athena encourages Odysseus to reveal himself to his son. What follows is a tearful reunion and the plotting of the suitors’ downfall. Telemachus leaves for the palace, and soon Eumaeus and Odysseus-as-a-beggar follow suit. Once they arrive, suitor Antinous and goatherd Melanthius ridicule him. Odysseus-as-a-beggar tells Penelope that he met Odysseus during his previous travels. Tasked with washing the beggar’s feet, housekeeper Eurycleia recognizes him as Odysseus by detecting an old scar from his youth. Eurycleia tries to tell Penelope, but Athena prevents it. Books 18-24: The Slaying of the Suitors The following day, advised by Athena, Penelope announces an archery competition, cunningly promising that she will wed whoever wins. The weapon of choice is Odysseus’ bow, which means that he alone is strong enough to string it and shoot it through the dozen axe-heads. Predictably,  Odysseus wins the competition. Aided by Telemachus, Eumaeus, the cowherd Philoetius, and Athena, Odysseus kills the suitors. He and Telemachus also hang the twelve maids that Eurycleia identifies as having betrayed Penelope by engaging in sexual relations with the suitors. Then, finally, Odysseus reveals himself to Penelope, which she thinks is a ruse until he reveals that he knows that their marital bed is carved out of a live-in olive tree. The following day, he also reveals himself to his elderly father Laertes, who has been living in seclusion due to grief. Odysseus wins Laertes trust by describing an orchard that Laertes had previously given him.   The locals of Ithaca plan to avenge the killing of the suitors and the deaths of all of Odysseus’ sailors, and so follow Odysseus down the road. Once again, Athena comes to his aid, and justice is re-established in Ithaca.

How Inflation Affected Ford Motor During the 2007-2009 Recession Essay

How Inflation Affected Ford Motor During the 2007-2009 Recession - Essay Example The damans of the machinery from FORD MOTOR decreases and hence the company cannot sustain a large number of workers. The table below shows how the recession affected the employment in FORD MOTOR and other companies in America. As a result of inflation and reduced purchasing power, the entire income raised by households is spent on necessities. As such, there is little disposable income to invest in shares. This is seen when the number of outstanding shares of the FORD MOTOR gradually increased as a result of decreased demand during the recession as shown in the table below: When real income falls below potential income due to a recession, FORD MOTOR laid-off workers, so the unemployment rate goes up and hence households earn less income. The cyclical unemployment rate increases during recessions as FORD MOTOR could not raise sufficient revenue to sustain a large number of workers.  

Staff Motivation Essay Example | Topics and Well Written Essays - 1750 words

Staff Motivation - Essay Example The organization and the group’s primary objective is to help employees transition towards a better career and to help individuals with their talent. The group also aims to target organizations through better talent hunting and management programs. The problem at hand with the group is that outplacement has become more of a commodity as a result of which price in the industry is being cut and the group is losing business to its peers in the ensuing fierce competition. With several players in the market, margins have reduced significantly and thus the service offerings by the group are not earning enough revenues for the organization. The primary aim of the organization is now to earn a significant revenue stream that will help boost its share price. The company has set up a benchmark to improve its share prices from 31.5p currently to ?2 in the future. With this aim, the management will need to earn about ?20 million in revenues and about ?4 million in profit. The management i s also of the view that despite the state of the economy, the business is well placed and thus can earn this stream of revenues. The paper aims to evaluate the various options that the management has along with developing a theoretical framework that will help in deciding the plan of action that the management should undertake in order to boost its revenue stream. A diagnostic as well as change model will also be presented that will help the organization towards improved revenues. Literature Review Human resource management is one of the key support functions within an organization and helps leverage the organization’s performance through the usage of human resources. Some of the key areas within the realms of human resource management include hiring, promotions, appraisals, training, placement and talent management, along with coaching and outplacement of employees. Human resource management is now critically integrated with organizational learning as well as strategic manag ement making it one of key fields that organizations should focus on for better results. The key human resource problems that are part of today’s economy include globalization where diversity has various ranges and a spectrum that is difficult to define. (Papalexandrisa, 1996; Boxall, 1996; Garavan, Costine and Heraty, 1995; Garavan, Heraty and Barnicle, 1999; Becker and Huselid, 1999; Stewart, Marhine and Hall, 1999; Stewart, 1996; Garavan, 1991; Gilley and Eggland, 1992) Other issues include problems with finding the right talent with respect to the job description and the creation of various jobs with descriptions that are difficult to fill up due to their technical nature. Retention is also one of the key areas where human resource management is important and where organizations need to be focused on. Retaining employees is one of the cheaper alternatives to hiring another resource where hiring takes long hours and resources to actually fulfil. One of key ways through whi ch human resource management consultancies help includes helping find the right resources towards the jobs that need to be filled by organizations, along with helping in training these employees, equipping them with the tools and techniques on getting the work done

Case Study Wal-Mart Essay Example for Free

Case Study Wal-Mart Essay Evaluate the general environment of Wal-Mart using the framework in Chapter 2. What are the key opportunities and threats facing Wal-Mart? (This is the OT of a SWOT analysis)Wal-Marts builds its stores in towns with a population size of 5000-25,000 people. Wal-Mart has recently started to tap into the more populated city suburbs by building smaller less obtrusive stores in those regions. Wal-Mart targets every age group from infants to senior citizens. Wal-Marts geographically places its stores in rural less populated areas with very few employment opportunities. Wal-Mart tries to attract all income levels by selling brand name items along with generic brand items. Wal-Mart approaches its global market by evaluating market potential based on economic and political risk, growth potential, and availability of real estate for development. In countries that had became saturated Wal-Mart used acquisitions to acquire ownership. In markets that were not saturated and land was easily accessible Wal-Mart used organic growth. The technology that Wal-Mart uses to run their business is unmatched. They have a network of satellites that can track a person purchase and automatically refurbish those items from suppliers without any human intervention. Wal-Mart maximizes efficiency by using effective technology to gain a competitive advantage. Wal-Mart has grown into a global empire and has become the world largest private employer and the number one retailer in the world. Despite all of this success Wal-Mart still has a huge opportunity to grow. Wal-Mart continues to adapt to the ever-changing economy by remodeling their store and by placing the customer as their number one priority. Wal-Mart took advantage of its rural locations early on and gained a significant competitive advantage, now Wal-Mart is taking on the urban environment by placing stores in the outskirts of major metropolitan areas. At first local residents rejected the idea of having a Wal-Mart in their neighborhood for fear it would drive down property value and unwanted individuals to their suburbanite neighborhood. Wal-Mart quickly resolved this problem by changing the format and size of their stores located in these regions. The only threats to Wal-Mart faces are mostly from within (eg..) lawsuits employee disputes and the threat to become unionized. Use Porters Five Forces Model to analyze the global retailing industry. Given this analysis, is the industry attractive or unattractive? Support  your decision. Wal-Mart is a huge threat to new entrants. Wal-Mart has created huge barriers to new entries by offering one stop shopping. Wal-Marts Super Centers offer everything from prepared meals to sports gear. Grocery chains have taken a huge hit because of this, even Kmart is feeling the heat, there stock hit rock bottom in 2004. The discount clothing and apparels have also taken a bite from this retail giant. Wal-Mart has produced a very proficient economy of scale from incremental improvements that they have acquired since becoming so large. Manufactures scramble to try and keep up with the huge demand that Wal-Mart places on its suppliers, this further reduces the prices of goods and services for their customers. Small-scale entries are nearly impossible in a region where Wal-Mart is located. Large-scale entries face the retaliation factor when trying to tap into Wal-Marts market because suppliers are forced to do things the Wal-Mart way. Wal-Mart has successfully customized many of their products and forced manufactures have been forced to produce the Wal-Mart brand. Wal-Mart has taken total control of the bargaining power of suppliers. Wal-Mart has a small group of buyers based in Bentonville Arkansas thats in charge of managing the purchasing of all retail stores. Wal-Mart is responsible for selling 35% of all pet food, 24% of all toothpaste, the largest volume of jewelry, groceries, DVDs, CDs, toys, guns, diapers, sporting goods, bedding, and numerous other things. This has put the retail giant in a very favorable negotiating position with suppliers. Wal-Mart has generated a huge market of loyal buyers by supplying them with the lowest possible prices for quality products. With Wal-Mart having such a huge share of the market and good prices there is no need for buyers to seek deals elsewhere. Wal-Mart has proven to be a huge threat of substitute products in several industries for example the jewelry industry, Wal-Mart has become one of the leading jewelry dealers in the North America. Wal-Mart has also created its own brand name for several of its items that have been so successful that manufactures are forced to produce products bearing the Wal-Mart brand. Wal-Mart competitors have to be very calculated with their responses because Wal-Mart is so large it can really drive a business under ground (Kmart). What is Wal-Marts business-level strategy? Is the strategy appropriate to offset the forces in the industry? Do you recommend any changes? If not, support your decision why you would not recommend any changes. Wal-Mart uses Integrated Lost Leadership/Differentiation Strategy. Wal-Mart has offset the forces in the industry by creating the most efficient supply chain in the industry. Efficient production has allowed Wal-Mart to keep cost low and pass own saving to its customers. Wal-Mart has successfully used Integrated Cost Leadership/Differentiation Strategy by setting the pace in new technology and adapting quickly to new technologies in their external environment. Concentration on the needs of its core customers (discount retailers), Wal-Mart has created a friendly family environment thats economically smart and beneficial to its patrons. Flexibility is one of Wal-Marts strongest assets, which allows them to complete primary and support activities in ways that allow them to produce somewhat differentiated products at a low cost. I would not personally recommend any changes to this strategy because it has made Wal-Mart the worlds largest retailer. What is your evaluation of the leadership at Wal-Mart?Wal-Mart has become the most successful business in the world through its un-yielding leadership. Mr. Walton has laid the foundation for success for years to come. The leaders at Wal-Mart focus on providing the customer with the highest possible quality at the lowest possible cost. They have redefined the retail industry with their cutting edge technology and flexibility that is un-matched by any competitor. The fact that upper management travel in economy class shows a lot about the character within the organization. The leadership at Wal-Mart has made the world we live in much smaller through economic availability and convenience. The leaders at Wal-Mart are a true example of profit through customer satisfaction. Works Cited Hitt, M., Ireland, R., Hoskisson, R. (2007), Strategic Management, Competitiveness andGlobalization: Concepts and Cases. 7th ed. Mason: Thomson South-Western(August 21, 2006). Global Labor Strategies: Wal-Mart: The Homefront. RetrievedSeptember 18, 2007,

Modern Economic Growth Essay -- Economics, Technological Progress

Theoretical model of modern economic growth shows that long-term economic growth and raise the level of per capita income depends on technological progress. This is because of without technological progress and with the increase of capital per capita, marginal returns of capital would diminish and output per capita growth would eventually stagnate (Solow, 1956; Swan, 1956). Studies have shown that â€Å"experience, skills and knowledge in the long-term economic growth is playing an increasingly important role† (World Bank, 1999). Despite how technological progress work on economic growth, and how there are different views on the role of in the end, but I am afraid no one would deny that technical progress in the important role of economic development. In this sense, for a country to achieve long-term economic growth, we must continue to promote technological progress. However, economic growth theory is analyzed in general, and usually under the assumption that in the closed ec onomy, and technological progress in a country not normally have taken place in various departments at the same time, and now the economy are often increasingly open economy. In this way, the technological progress in different economic impact on a country may be quite different. In addition, we assume that technological progress is Hicks neutral, is to an industry in itself, but technological progress also reflects the establishment of new industries and development. The new industries and technology-intensive industries generally older than the high, the use of less labor. Even the old industries, the general trend of technological progress is labor-saving. However, despite the long-term economic growth, technological progress is very important, and even if we... ... technological progress (the actual cost of the actual producer prices drop or increase) caused. (Note: Of course, if technological progress is the price of the product after the fall, FG Theorem is not established, so it does not necessarily affect the distribution of income, such as SS as shown in Theorem. However, a small country in the open cases, product prices given by the international market, so the assumption that commodity prices remain unchanged or valid, FG theorems generally be valid.) Obviously, if technical progress can not be changed after the factor prices, the production of the two departments, the capital / labor ratio would not change, then the imbalance in supply and demand factors will occur. If this imbalance can not be adjusted by the factor market, some elements will be in short supply, while the other elements will be unemployed or idle.

Cowboy Conservatism

In Cowboy Conservatism, we get to take a look at the rise of conservatism in Texas and the many events that led to the shift from Democratic Texas to a more right wing centered Texas. The events in the book including the election of LBJ, the assassination of Kennedy, and the election of Ronald Reagan, are some of the major events that helped shape Texas into what it is today. For a century after Reconstruction, the Democratic Party enjoyed electoral dominance on all levels of state government and in the Lone Star State's representation in the national government.Democrats held a lock on state politics and government throughout the first half of the twentieth century. But beneath the surface the party's dominance was crumbling. Political change in Texas and the nation eroded the conditions that fostered Democratic dominance. The 1964 election was one of the most interesting presidential elections in the history of U. S. A. For the first time since the election of 1932, American voters were given a chance to choose a President from two candidates who were completely opposite in their ideology and personality.Incumbent candidates usually get good coverage if they are running for re-election in a time when the economy is good, and this time was no exception. Part of the good coverage President Johnson received can be explained by the good economy and the lingering sympathy the press and the people still felt for the passing of President Kennedy. It also helped that he faced a very weak candidate that came from a divided party.From the start, Senator Goldwater had a difficult task in trying to oust a popular President in a good economy: What made his task almost impossible was that his extreme right wing ideology alienated the more moderate wing of the party. As we can learn from history, a divided party usually loses an election because a portion of their supporters would choose to stay home rather than vote for the candidate they do not like. Senator Goldwater's r efusal to moderate his view alienated the moderate Republicans.Although many Texans supported Goldwaters views on issues, it was hard for most Texans to go against one of their own in Johnson. Johnson made sure that people thought of Goldwater as an extremist in his views, which actually worked very well. I think the election of Ronald Reagan was the defining moment for the change to conservatism not only for Texas but for the rest of the nation. Although Reagan was defeated in 1976, he stuck with his strong conservative principles that most Texans also agreed with.I think most Texans really was on the side of Reagan because he was strong in his beliefs but he wasn’t as threatening as Goldwater. As unemployment and inflation began to rise during the Carter administration, many Americans were looking at alternative views, and Reagan used this to his advantage to run against everything Carter and the Democrats were doing. The genius of Reagan was to unite several different cons ervative schools of thought and forge them into a political movement.Nevertheless, Ronald Reagan saw something essential to the American cause in each strand of conservatism. He was attracted to the ideas that animated them. Reagan's great achievement was carried out in the political arena: he pulled together those who were inspired by classical conservatism and those who were inspired by classical liberalism. The victory in Texas was really one of the major influences for the spread of conservatism throughout the United States.Even today, there has been a rise of people who say they want to get back to Reagan conservatism, especially with the economy and unemployment low and mirroring much of the era during the Jimmy Carter presidency. I think what happened with the rise of Reagan is very interesting because we are starting to see much of the same thing again today. There is a strong interest nationally to move back to more conservative principles economically and cut government sp ending and control. The election of Ronald Reagan, in my opinion, was the definitive turning point in the rise of conservatism in Texas and throughout the United States.

Luxury Goods in Hong Kong, China Essay

Luxury goods experienced a slowdown in current value growth for 2012 against 2011, largely attributed by the unstable economic conditions brought about by the 2011 Euro crisis as well as the slowing down of the Chinese economy. While consumers’ sentiments were still relatively strong, spending continued to tilt towards a more cautious end. Depreciation of Euros also saw more consumers heading to Hong Kong for holidays and in turn purchasing luxury goods from there to take advantage of the. Euromonitor International’s Luxury Goods in Hong Kong, China report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2017 illustrate how the market is set to change. Buy a Report Copy @ http://www.rnrmarketresearch.com/contacts/purchase?rname=88087. Product coverage: Designer Apparel (Ready-to-Wear), Fine Wines/Champagne and Spirits, Luxury Accessories, Luxury Cigars, Luxury Electronic Gadgets, Luxury Jewellery and Timepieces, Luxury Travel Goods, Luxury Writing Instruments and Stationery, Super Premium Beauty and Personal Care.Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data. Why buy this report? – Get a detailed picture of the Luxury Goods market; – Pinpoint growth sectors and identify factors driving change; – Understand the competitive environment, the market’s major players and leading brands;

Bent Pyramid Insight In Egyptian Architectural History

Bent Pyramid Insight In Egyptian Architectural History The Bent Pyramid in Dahshur, Egypt is unique among pyramids: instead of being a perfect pyramid shape, the slope changes about 2/3 of the way to the top. It is also one of five Old Kingdom Pyramids that retain their original form, 4,500 years after their construction. All of them- the Bent and Red Pyramids at Dahshur and the three Pyramids at Giza- were built within a single century. Out of all five, the Bent Pyramid is the best opportunity we have for understanding how architectural techniques of ancient Egypt were developed. Statistics The Bent Pyramid is located near Saqqara, and it was built during the reign of the Old Kingdom Egyptian pharaoh Snefru, sometimes transliterated from the hieroglyphs as Snofru or Sneferu. Snefru ruled Upper and Lower Egypt between 2680-2565 BCE or 2575-2551 BCE, depending on which chronology you use. The Bent Pyramid is 189 meters (620 feet) square at its base and 105 m (345 ft) tall. It has two distinct interior apartments designed and built independently and connected only by a narrow passageway. Entrances to these rooms are located on the north and west faces of the pyramid. It is unknown who was buried inside of the Bent Pyramid- their mummies were stolen in ancient times. Why is it Bent? The pyramid is called bent because of that steep change in slope. To be precise, the lower part of the pyramids outline is angled inward at 54 degrees, 31 minutes, and then at 49 m (165 ft) above the base, the slope abruptly flattens out to 43 degrees, 21 minutes, leaving a distinctively odd shape. Several theories about why the pyramid was made this way were prevalent in Egyptology until recently. They included the premature death of the pharaoh, requiring the speedy completion of the pyramid; or that noises coming from the interior clued the builders into the fact that the angle was not sustainable. To Bend or Not to Bend Archaeoastronomer Juan Antonio Belmonte and engineer Giulio Magli have argued that the Bent Pyramid was built at the same time as the Red Pyramid, a pair of monuments built to celebrate Snefru as the double-king: pharaoh of the Red Crown of the north and the White Crown of the South. Magli, in particular, has argued that the bend was an intentional element of the Bent Pyramids architecture, meant to establish an astronomical alignment appropriate to Snefrus sun cult. The most commonly held theory today is that a comparably sloped pyramid- Meidum, also thought to have been built by Snefru- collapsed while the Bent Pyramid was still under construction, and the architects adjusted their building techniques to make sure the Bent Pyramid would not do the same. A Technological Breakthrough Intentional or not, the Bent Pyramids odd appearance provides insight into the technical and architectural breakthrough it represents in Old Kingdom monument building. The dimensions and weight of the stone blocks are much greater than its predecessors, and the construction technique of the outer casings is quite different. Earlier pyramids were constructed with a central core with no functional distinctions between casing and external layer: the experimenting architects of the Bent Pyramid tried something different. Like the earlier Step Pyramid, the Bent pyramid has a central core with progressively smaller horizontal courses stacked on top of one another. To fill in the external steps and make a smooth-faced triangle, the architects needed to add casing blocks. The Meidum pyramids outer casings were formed by cutting sloped edges on horizontally placed blocks: but that pyramid failed, spectacularly, its outer casings falling off it in a catastrophic landslide as it neared completion. The Bent Pyramids casings were cut as rectangular blocks, but they were laid sloping inward at 17 degrees against the horizontal. That is technically more difficult, but it gives strength and solidity to the building, taking advantage of gravity pulling the mass inward and downward. This technology was invented during the construction: in the 1970s, Kurt Mendelssohn suggested that when Meidum collapsed, the core of the Bent Pyramid was already built to a height of about 50 m (165 ft), so instead of starting from scratch, the builders changed the way the outer casings were constructed. By the time Cheops pyramid at Giza was constructed a few decades later, those architects used improved, better-fitting and better-shaped limestone blocks as casings, permitting that steep and lovely 54-degree angle to survive. A Complex of Buildings In the 1950s, archaeologist  Ahmed Fakhry  discovered that the Bent Pyramid was surrounded by a complex of temples, residential structures and causeways, hidden beneath the shifting sands of the Dahshur plateau. Causeways and orthogonal roads connect the structures: some were built or added on to during the Middle Kingdom, but much of the complex is attributed to the reign of Snefru or his 5th dynasty successors. All later pyramids are also part of complexes, but the Bent Pyramids is one of the earliest examples. The Bent Pyramid complex includes a small upper temple or chapel to the east of the pyramid, a causeway and a valley temple. The Valley Temple is a rectangular 47.5x27.5 m (155.8x90 ft) stone building with an open courtyard and a gallery that probably held six statues of Snefru. Its stone walls are about 2 m (6.5 ft) thick. Residential and Administrative An extensive (34x25 m or 112x82 ft) mud brick structure with much thinner walls (.3-.4 m or 1-1.3 ft) was adjacent to the valley temple, and it was accompanied by round silos and square storage buildings. A garden with some palm trees stood nearby, and a mud-brick enclosure wall surrounded all of it. Based on archaeological remains, this set of buildings served a range of purposes, from domestic and residential to administrative and storage. A total of 42 clay sealing fragments naming fifth dynasty rulers was found in a midden east of the valley temple. South of the Bent pyramid is a smaller pyramid, 30 m (100 ft) high with an overall slope of about 44.5 degrees. The small inner chamber may have held another statue of Snefru, this one to hold the Ka, the symbolic vital spirit of the king. Arguably, the Red Pyramid could be part of the intended Bent Pyramid complex. Built roughly at the same time, the Red Pyramid is the same height, but faced with reddish limestone- scholars surmise that this is the pyramid where Snefru himself was buried, but of course, his mummy was looted long ago. Other features of the complex include a necropolis with Old Kingdom tombs and Middle Kingdom burials, located east of the Red Pyramid. Archaeology and History The primary archaeologist associated with excavations in the 19th century was William Henry Flinders Petrie; and in the 20th century, it was Ahmed Fakhry. Ongoing excavations are being conducted at Dahshur by the German Archaeological Institute at Cairo and the Free University of Berlin. Sources Aboulfotouh, Hossam M. K. Astronomical Algorithms of Egyptian Pyramids Slopes Adn Their Modules Divider. Mediterranean Archaeology and Archaeometry 15.3 (2015): 225–35. Print.Alexanian, Nicole, and Felix Arnold. The Necropolis of Dahshur: Eleventh Excavation Report Spring 2014. Berlin: German Archaeological Institute and Free University of Berlin, 2014. Print.Alexanian, Nicole, et al. The Necropolis of Dahshur: Fifth Excavation Report Spring 2008. Berlin: German Archaeological Institute and Free University of Berlin, 2008. Print.Belmonte, Juan Antonio, and Giulio Magli. Astronomy, Architecture, and Symbolism: The Global Project of Sneferu at Dahshur. Journal for the History of Astronomy 46.2 (2015): 173–205. Print.MacKenzie, Kenneth J. D., et al. Were the Casing Stones of Senefrus Bent Pyramid in Dahshour Cast or Carved?: Multinuclear Nmr Evidence. Materials Letters 65.2 (2011): 350–52. Print.Magli, Giulio. The Giza ‘Written’ Landscape and the Double Project of King Khufu. Time and Mind 9.1 (2016): 57-74. Print. Mendelssohn, K. A Building Disaster at the Meidum Pyramid. The Journal of Egyptian Archaeology 59 (1973): 60–71. Print.Moeller, Nadine. The Archaeology of Urbanism in Ancient Egypt from the Predynastic Period to the End of the Middle Kingdom. New York: Camridge University Press, 2016. Print.Mà ¼ller-Rà ¶mer, Frank. A New Consideration of the Construction Methods of the Ancient Egyptian Pyramids. Journal of the American Research Center in Egypt 44 (2008): 113–40. Print.Reader, Colin. On Pyramid Causeways. The Journal of Egyptian Archaeology 90 (2004): 63–71. Print.Rossi, Corinna. Note on the Pyramidion Found at Dahshur. The Journal of Egyptian Archaeology 85 (1999): 219–22. Print.

Business Finance And Quantitative Methods Of Dick Smith Holdings

This particular essay attempts to heighten a brief summary of the ownership history of Dick Smith Holdings Limited. It also incorporates the critical evaluation of the valuation of the pany when it was acquired by Anchorage Capital Partners and its Initial Public Offer (IPO) amount. The essay also attempts to assess the ethical dilemmas that face Anchorage Capital Partners regarding the floating of the pany and the senior executives and directors of Dick Smith Holdings Limited in respect to its financial reports made in the 2014/2015 accounts and reports. Dick Smith Holdings Limited was an Australian wide-chain of retail stores domiciled in Sydney, Australia and was founded by Dick Smith in 1968 (Dick Smith Holdings Limited annual reports, 2015). The pany basically sold consumer electronics goods, electronic project kits and hobbyist electronic ponents for its customers in Australia, New Zealand and other parts of the world. The pany expanded effectively into New Zealand and unsucces sful in some other nations globally (Anderson, Sweeney, Williams, Camm, and Cochran, 2012). Dick Smith Holdings Limited expanded to be a leading business in Australia that ensured that almost every electronic enthusiastic in the country has one of its catalogs and thus enhanced profits. In the FY2012, Dick Smith Holdings Limited was formerly acquired by Anchorage Capital Partners at an opening cash payment of AU$20 Million and the total ultimate cost of some AU$115 Million. Dick Smith Holdings Limited was initiated in 1968 by Dick Smith. The pany started as small rented buildings in a car park in the Sydney area of Neutral Bay with the total capital of just AU$610 and focused mostly on servicing and installing car radios (Puncheva, and Michelotti, 2014). Due to the pany rapid increase and success in the business sector, the pany moved to a bigger premises so as to enhance its business operations in the country. The pany profited mostly from CB Radio business, and by the end of ten years, it had branches in all the mainland regions in the country. Dick Smith Holdings Limited was owned by Dick Smith and his wife until they basically sold the majority of shares to Woolworth Limited in 1982 (Clements, 2015). The pany expanded its diverse range of products especially in between 1970 and 1980 and basically stocked products such as TV receiving stations and Heathkit electronic kits because of the waning interest rates. The business had expanded to about 20 sto res and the initiator together with his wife sold 60% of the business shares to Woolworth Limited and the remaining 40% ownership was pleted in 1982. Dick Smith Holdings Limited continued to increase to its setup of small main street stores in the regional and suburbs towns across Australia. The pany later established Dick Smith Electronic Powerhouse which was a superstore across the east coast of Australia that carried an extensive range of products in the audiovisual, puting and armature radio areas to enhance its productions. In the FY2008, following Woolworth Limited review of its consumer electronics division, Dick Smith Electronic Powerhouse revamped its flagship store as a notion to Dick Smith Technology branding (Lau, 2016). In 2009, Woolworth pany Limited confirmed the end of the Dick Smith Electronic Powerhouse as progressively phased out over the subsequent three years as part of its division. Dick Smith Electronic Powerhouse ended its operations in 2016 with several year s of Anchorage Capital Partners acquisition. Dick Smith Holdings Limited had been owned by Woolworth Limited since the early 1980’s, until early in 2012 when Woolworth Limited announced that the business was underperforming and non-core and instigated a sale process (Schauten, Dijk, and Waal, 2016).   After a period of distinctiveness, in November 2012 Anchorage Capital Partner acquired the pany for AU$20 Million. Anchorage Capital Partners announced in FY2012 that it had entered into an agreement with Woolworth pany Limited to acquire 100% of Dick Smith Electronics with the entire transaction anticipated to be pleted in November 2012. Dick Smith Electronics was an iconic Australian consumer electronics pany that became part of Woolworth pany Limited in 1980 (Essayyad, 2012). The deal had been conventionally structured so that Dick Smith Holdings Limited will emerge from the sale supported by a strong statement of financial position with considerable asset backing and no core liabilities. As part of the acquisition, An chorage Capital Partners would also support the operations by offering additional guarantees and cash investment. As at FY2012, Dick Smith Holdings Limited reported sales worth AU$1.6 Billion. Anchorage Capital Partners paid as much as AU$115 Million for Dick Smith Holdings Limited because it was agreed that an approximately AU$20 Million would be paid up front. As at FY2012, Dick Smith Holdings Limited was basically valued at AU$420 Million (Dias, and Saizarbitoria, 2016). The pany was heavily criticized because it was cheaply sold because the pany could not make sufficient profits needed by the pany. Woolworth pany Limited having struggled to find a fit for the electronics retailer from its acquisition in 1980, the pany was keen to offloading the non-core business division for approximately AU$115 Million. Since Anchorage Capital Partners is a privately owned institution, the price details of the newly acquired asset, the pany shares are not routinely made public. When Dick Smith Holdings Limited was basically acquired by Anchorage Capital Partners, the pany had less value and was basically valued at AU$20, and its Initial Public Offer (IPO) was at AU$2.20 per share. Following the pany acquisition, Anchorage Capital Partners restructured its business, and the retailer was mainly listed on the shares market for AU$2.20 for each share raising about AU$345 Million which was more than five times its initial purchase price (Brigham, and Houston, 2012). Anchorage Capital Partners is alleged to have marked down a substantial value of Dick Smith inventories to sell it at a discount so as to report an attractive i es data. These particular adjustments did not touch the new Dick Smith pany loss and profit reports, and at the lash of the pen, the pany had made or avoided about AU$120 Million in future pre-tax profit. The pany financial statements as at 2012 indicated that Dick Smith Holdings Limited had stock that cost AU$371 Million but had been written-down to AU$312 Million (Essayyad, 2014). Consecutively, as at June 2013, the pany inventory had decreased to AU$171 Million which basically pointed out an apparent sale of the enterprise. In this case, the reduction in the pany inventory produced a massive AU$140 Million profits to the pany operating cash flows as a result of selling most of the inventory, but there was no restocking. Due to this particular markdown of most of Dick Smith Holdings Limited inventory and other non-current assets, the pany valuation had been decreased tremendously that enabled Anchorage Capital Partners to acquire the new corporation quickly (Oakshott, 2012). Floating of the business shares in the market is usually the duty of management. Floating of shares often enables the pany to raise more capital to fund its diverse activities such as expansion. The management of Anchorage Capital Partners basically faces diverse ethical dilemmas when floating of shares because of the negative critics that they face as a result of Dick Smith Holdings Limited acquisition in 2012. The pany management is criticized of decreasing the pany value so as to enrich themselves which is considered to be unethical among the pany operations (Iyakaremye, 2015). Anchorage Capital Partners are faced with the aspect of trust and confidence from shareholders in respect to floating of its shares because they feel less secured from diverse operations of the pany. The pany management floated the electronics chains that bear the name of Dick Smith which was considered to lack decency and morality and that the managers were faced with a lawsuit with the aim to refund for t he clients that were left holding worthless gift cards. Dick Smith Holdings Limited was initially sold off to Anchorage Capital Partners for about AU$115 Million, and the privately owned firm basically floated the business just after fifteen months later for more than five times its initial costs. This aspect was considered to be unethical because the amount paid for the pany was too low. There can be absolutely no doubt that the Anchorage Capital Partners Limited managers knew that the things were not doing the right thing to its customers. Investors lost their life savings invested in the pany while the pany directors walked away with several million (Gendron, and Smith, 2015). The Anchorage Capital Partners misled the directors of Dick Smith Holdings Limited that led to their acquisition at a little value whereas the pany management made diverse profits that floated an enormous amount of shares that was considered to be five times the initial value of Dick Smith Holdings Limited. An assessment of the ethical dilemmas that faces the senior executives and directors of Dick Smith Holdings Limited with respect to its financial reports made in the 2014/2015 accounts and reports According to the financial reports and accounts for FY2014/15, the management board of Dick Smith Holdings Limited duped the firm shareholder and investors using the name of Dick Smith to hide their dishonesty (Wood, 2011). They fooled the pany investors and shareholders that the pany was making profits and that the pany financial students and reports demonstrated a clear picture of the pany financial position and in actual aspects, the pany financial statements were deceiving. This action was basically unethical and unprofessional because they also fooled financial professionals and banks to push for the pany sale (Essayyad, 2012). Another ethical problem that faces the directors and executive management is that according to the FY2014/15 accounts and reports, there was no indication that Dick Smith Holdings Limited will exit the business. According to the reports, the managers rewarded themselves with huge bonuses and salaries that resulted to the pany liquation. The pany went into receivership five months after the release of the financial statements of 2014/2015 which indicated that the pany would continue its operations for a foreseeable future but in real aspect, the pany had diverse problems. Due to huge salaries by the directors that resulted in little profits, the pany shares were suspended from trading via the ASX. Senior executives and directors of Dick Smith Holdings Limited were blamed for low sales that led to low profits and hence the closure of the business. Anchorage Capital Partners had altered the true and fair value and projections of the pany when it registered the pany of the Australia Stock Exchange in the FY2013 (Kenney, Cava, and Rodgers, 2016). Basically, it a pany cannot be valued at AU$90 Million in FY2012 by Woolworth Limited, AU$500 Million in 2013 and then the pany goes into receivership two years later. In this case, the pany management deceived the pany shareholders and investors. The senior executives and directors of Dick Smit h Holdings Limited knew of inventory problems that led to most of the pany stocks written off. The management team basically deceived the shareholders, and they were treated poorly, and they had a right to correct information to make informed decisions on the Australian share market. The senior executives and directors of Dick Smith Holdings Limited did not offer viable information to its investors and shareholders that led to the pany closure (Essayyad, 2008). This is because it is believed that the managers had concrete knowledge of what was happening with the pany and failed to advise on the shareholders on the possible approaches to save the pany from downfall. Proper and ethical management of diverse panies globally is usually the core aspect that enhances the pany operations. A pany that has better management team usually generate sufficient profits for its investors and shareholders because they ensure that there is continuous production. Dick Smith Holdings Limited sold consumer electronics goods, electronic project kits and hobbyist electronic ponents for its customers in Australia, New Zealand and other parts of the world. The pany was officially closed in 2016 because the pany management did not disclose all the problems that hindered the operations of the enterprise. The pany management fooled the pany investors and shareholders that the pany was making profits and that the corporation financial students and reports demonstrated a clear picture of the pany financial position and in real aspects, the pany financial statements were deceiving. Anderson, D.R., Sweeney, D.J., Williams, T.A., Camm, J.D. and Cochran, J.J., 2012.  Quantitative methods for business. Cengage Learning. Brigham, E.F. and Houston, J.F., 2012.  Fundamentals of financial management. Cengage Learning. Clements, J., 2015. Stamp duty consequences of infrastructure and development agreements.  Taxation in Australia,  49(11), p.688. Dias, A.A.D.S.P. and Saizarbitoria, I.H., 2016. ISO 9001 Performance: A Holistic and Mixed-Method Analysis.  Revista de Management parat International,  17(2), p.136. Dick Smith Holdings Limited annual reports, 2015. Retrieved from https://www.asx .au/asxpdf/20150818/pdf/430kvhrl8cpg0l.pdf Essayyad, M., 2012. The Case of Anchorage.  International Banking and Financial Centers, p.11. Ezidinma, V., 2014.  Why corporations fail: An exploration & theory on the recurring themes in corporate failure  (Doctoral dissertation, Dublin Business School). Essayyad, M., 2012. 2. The Feasibility of Establishing.  International Banking and Financial Centers, p.11. Essayyad, M., 2008. ‘The Feasibility of Establishing an International Financial Centre: The Case of Anchorage.  International Banking and Financial Centers, p.11. Iyakaremye, A., 2015. Analysis Of Financial Performance And Financial Risk In Agricultural panies Listed On The Nairobi Security Exchange. Gendron, Y. and Smith-Lacroix, J.H., 2015. The global financial crisis: Essay on the possibility of substantive change in the discipline of finance .  Critical Perspectives on Accounting,  30, pp.83-101. Kenney, R., La Cava, G. and Rodgers, D., 2016.  Why Do panies Fail?(No. rdp2016-09). Reserve Bank of Australia. Lau, A., 2016. ASA stands up for shareholders.  Equity,  30(4), p.10. Oakshott, L., 2012.  Essential quantitative methods: For business, management and finance . Palgrave Macmillan. Puncheva-Michelotti, P. and Michelotti, M., 2014. The new face of corporate patriotism: does being â€Å"local† matter to stakeholders?.  Journal of Business Strategy,  35(4), pp.3-10. Schauten, M.B., Van Dijk, D. and van der Waal, J.P., 2013. Corporate governance and the value of excess cash holdings of large European firms.  European Financial Management,  19(5), pp.991-1016. Wood, D., 2011. M&A transactions: What are the issues; what are the opportunities?.  Tax Specialist,  14(5), p.238.

Net Present value Essay Example | Topics and Well Written Essays - 1250 words

Net Present value - Essay Example There are various methods available for appraisal of a project like Net Present Value, Pay back period and others. Here we are using NPV and payback method to analyze the project. Let us start with NPV method. NPV method recognizes the fact that a pound today is worth more than a pound tomarrow. NPV is ‘a calculation in dollars of the present value of all future cash flows from a project. It is roughly analogous to the concept of profit.’(Gary Heerkens, page 59) The total production per week is 1000 units and accordingly 52000 units for the year. As per information provided the contribution or profit per units will be  £0.20 and as the sale for the year is 52000 units, total contributions towards profit is  £10400. As the fixed operation cost will get reduced to  £ 20000 on installation of equipment, the contribution after meeting variable cost would be £ 30400 for each of 10 years except for 5th year, when the unit will be closed for overhauling for 4 weeks. In the fifth year the contribution will be  £29600. As there will also be an overhauling cost of  £8000, the net profit will reduce to  £1600 as compared to  £10400 in each year. However, in the 10th year the residual value of equipments of  £1000 will increase the profits to  £11400. These profits represent cash inflows for each year as depreciation on equipment has not been considered for calculation of such profits. These cash flows have been discounted at the rate of 20% (PVIF table multipliers for each year) in order to calculate the present value of cash inflows from the project.